Making Internet Money

Google’s recent push into tablets and mobile, along with offering new search services such as Google Instant, are pushing up the company’s capital expenditures, which are slotted to grow almost 184 percent in 2010 compared to last year. Next year, that amount is going to go even higher. This spending is a good thing, because it allows Google to leverage its inherent advantage: infrastructure.

A few years ago, I noted in a post that infrastructure was Google’s key competitive advantage. It’s what allowed the company to innovate and outpace its rivals. It allowed the company to give us results faster than our broadband connections could offer, making us more subservient to its search in the process. In the end, we all forgot the directories and instead focused on the search-box as the start of our Internet journey. Today, Google is a gigantic, $7.3-billion-in-quarterly-sales business.

One thing Google knows: It needs to keep spending money on this infrastructure in order to stay competitive and current. The company recently introduced Google Instant, a new feature that allows you to get results even as you’re still typing the search term. It’s a service akin to the days when an Intel chip got multimedia extensions.

In many ways, Google Instant demonstrates the evolution of a product in order to keep up with times; today’s faster broadband means that the search results need to come up faster than one could type. More importantly, Google Instant is a search product optimized for a brave new world where the user interface is touch rather than keyboards, and devices aren’t your classic computer, but instead mobile and tablet-like.

One of the reasons Google was able to launch Google Instant is because it can afford to spend a lot of money on its infrastructure. During the third quarter of 2010, the company spent nearly $757 million, the highest amount since the first quarter of 2008, according to investment bank J.P. Morgan. (In comparison, Google spent a total of $810 million on capital expenditures in all of 2009.) In a conference call with Wall Street yesterday, Google VP Jonathan Rosenberg told the analyst community:

From a revenue standpoint, its impact has been very minimal; and from a resource standpoint, it’s actually pretty expensive. So why did we do it? Well, we believe from a user standpoint, Instant is outstanding and the data that we are seeing actually bears this out.

Google’s spending on capital expenditures (mostly on data centers) had been on a decline. That is about to change. According to J.P. Morgan, the company is going to spend $2.3 billion on capital expenses in 2010 versus $810 million last year. For next year, the investment bank  is forecasting $3.2 billion in capital spending.

Some Wall Street analysts are going to view this increased spending and wring their hands. They’re idiots and short-term thinkers. I see the growth in capital expenses as a sign of health, and that things are going well for Google –actually, really well.

Let me explain; until recently, Google had to focus on a small subset of actions to satisfy its end customers – all of us – and thus make money off of advertising. Throw in YouTube videos and Gmail, if you want, but browser-based search and search-based advertising were its bread and butter.

Google is said to be the single biggest source of traffic on many of the world’s networks and that’s with only a handful of offerings. Now imagine how big Google will be as a percentage of the source of Internet traffic once we start taking their new initiatives into account. That also explains why they need to build their own networks and lay their own fiber pipes.

Now the number of consumer interactions has grown multifold. Google’s Android mobile operating system is an Internet-enabled OS peppered with Google services that are used more frequently because we have access to them in our pockets. This overall growth in data center capabilities is only going to go up as the company becomes more successful with its Android push. By spending on data centers and networks, what Google is ensuring is that Google Android will always have a great user experience. Remember, in a world dominated by cloud clients, nothing matters more than instant access to various Internet services.

Related content from GigaOM Pro (subscription req’d) about Google, and its Mobile Efforts:

• Why Google Should Fear the Social Web


• Report: Google’s Voice Possibilities


• How Mobile Cloud Computing Will Change Tech

So, why did this particular ad hit a nerve with the online audience, and what was Target really going for?



I think that the internet DIY set reacted to making fun of a costume that fits their ethos perfectly. Last halloween, for example, one DIY dad became a YouTube hit when he posted an awesome homemade Iron Man costume he made for his kid. Is Target's message really that the kid would have been better off wearing a storebought version? If so, citizens of the internet (and makers in particular) are right to be a little ticked off.



As for the non-DIYers, I think that what made them upset was the way Target tried to manipulate kids by playing the dual role of the bully who makes fun of your costume and the cool parent who just wants to help you fit in, unlike your weird, lame, Iron-Man-suit-building mom.



That doesn't work, though, because the parents who will be paying for the costumes are the ones who teach their kids that bullying and peer pressure are wrong, and that creativity is good. The bigger, more popular kid who mocks your costume is the bad guy in every cartoon and after-school special. Why would any kid root for him? And why would parents root against their own nostalgia for (sometimes embarrassing) homemade Halloween outfits? (And if this ad was made to be seen by kids, it sure was shot poorly.)



That leads me to a distasteful theory about who Target was, well, targeting with this commercial. It's not aimed at internet geeks with the time, money and technical skills to make amazing Iron Man costumes for their kids. They aren't going to go to Target for a costume anyway. It's aimed at parents who don't have that time, money or expertise, and who don't want their kids to be singled out as weird or poor. Did Target pick a black family for the ad because they think African-American parents fit that profile? That would be the grossest type of marketing, but I think it's possible.



It doesn't matter if you can't make (or afford to make) your kid a costume, though: the ad still fails because the homemade costume it shows is cool. That mom did a great job with it, and clearly put in some time and effort, so there's nothing for her kid to be embarrassed about. If Target wanted to invoke shame and peer-pressure to make parents feel self-conscious about their income or costume-making skills, they should have at least shown a costume that was actually bad.

Juan Williams: Fox <b>News</b> Lets &#39;Black Guy With A Hispanic Name&#39; Host <b>...</b>

Juan Williams said Tuesday that he's still upset about his firing from NPR, and added that NPR does not understand the Fox News culture or audience. In an interview with Baltimore Sun columnist David Zurawik, Williams said he remains ...

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apartment property management companies

Juan Williams: Fox <b>News</b> Lets &#39;Black Guy With A Hispanic Name&#39; Host <b>...</b>

Juan Williams said Tuesday that he's still upset about his firing from NPR, and added that NPR does not understand the Fox News culture or audience. In an interview with Baltimore Sun columnist David Zurawik, Williams said he remains ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

BREAKING <b>NEWS</b>: The Hobbit Stays In New Zealand | Hobbit Movie <b>News</b> <b>...</b>

The night is darkest ere the dawn... and dawn has ever been the hope of Men! After days of closed door talks between New Zealand Prime Minister John Key and.

Google’s recent push into tablets and mobile, along with offering new search services such as Google Instant, are pushing up the company’s capital expenditures, which are slotted to grow almost 184 percent in 2010 compared to last year. Next year, that amount is going to go even higher. This spending is a good thing, because it allows Google to leverage its inherent advantage: infrastructure.

A few years ago, I noted in a post that infrastructure was Google’s key competitive advantage. It’s what allowed the company to innovate and outpace its rivals. It allowed the company to give us results faster than our broadband connections could offer, making us more subservient to its search in the process. In the end, we all forgot the directories and instead focused on the search-box as the start of our Internet journey. Today, Google is a gigantic, $7.3-billion-in-quarterly-sales business.

One thing Google knows: It needs to keep spending money on this infrastructure in order to stay competitive and current. The company recently introduced Google Instant, a new feature that allows you to get results even as you’re still typing the search term. It’s a service akin to the days when an Intel chip got multimedia extensions.

In many ways, Google Instant demonstrates the evolution of a product in order to keep up with times; today’s faster broadband means that the search results need to come up faster than one could type. More importantly, Google Instant is a search product optimized for a brave new world where the user interface is touch rather than keyboards, and devices aren’t your classic computer, but instead mobile and tablet-like.

One of the reasons Google was able to launch Google Instant is because it can afford to spend a lot of money on its infrastructure. During the third quarter of 2010, the company spent nearly $757 million, the highest amount since the first quarter of 2008, according to investment bank J.P. Morgan. (In comparison, Google spent a total of $810 million on capital expenditures in all of 2009.) In a conference call with Wall Street yesterday, Google VP Jonathan Rosenberg told the analyst community:

From a revenue standpoint, its impact has been very minimal; and from a resource standpoint, it’s actually pretty expensive. So why did we do it? Well, we believe from a user standpoint, Instant is outstanding and the data that we are seeing actually bears this out.

Google’s spending on capital expenditures (mostly on data centers) had been on a decline. That is about to change. According to J.P. Morgan, the company is going to spend $2.3 billion on capital expenses in 2010 versus $810 million last year. For next year, the investment bank  is forecasting $3.2 billion in capital spending.

Some Wall Street analysts are going to view this increased spending and wring their hands. They’re idiots and short-term thinkers. I see the growth in capital expenses as a sign of health, and that things are going well for Google –actually, really well.

Let me explain; until recently, Google had to focus on a small subset of actions to satisfy its end customers – all of us – and thus make money off of advertising. Throw in YouTube videos and Gmail, if you want, but browser-based search and search-based advertising were its bread and butter.

Google is said to be the single biggest source of traffic on many of the world’s networks and that’s with only a handful of offerings. Now imagine how big Google will be as a percentage of the source of Internet traffic once we start taking their new initiatives into account. That also explains why they need to build their own networks and lay their own fiber pipes.

Now the number of consumer interactions has grown multifold. Google’s Android mobile operating system is an Internet-enabled OS peppered with Google services that are used more frequently because we have access to them in our pockets. This overall growth in data center capabilities is only going to go up as the company becomes more successful with its Android push. By spending on data centers and networks, what Google is ensuring is that Google Android will always have a great user experience. Remember, in a world dominated by cloud clients, nothing matters more than instant access to various Internet services.

Related content from GigaOM Pro (subscription req’d) about Google, and its Mobile Efforts:

• Why Google Should Fear the Social Web


• Report: Google’s Voice Possibilities


• How Mobile Cloud Computing Will Change Tech

So, why did this particular ad hit a nerve with the online audience, and what was Target really going for?



I think that the internet DIY set reacted to making fun of a costume that fits their ethos perfectly. Last halloween, for example, one DIY dad became a YouTube hit when he posted an awesome homemade Iron Man costume he made for his kid. Is Target's message really that the kid would have been better off wearing a storebought version? If so, citizens of the internet (and makers in particular) are right to be a little ticked off.



As for the non-DIYers, I think that what made them upset was the way Target tried to manipulate kids by playing the dual role of the bully who makes fun of your costume and the cool parent who just wants to help you fit in, unlike your weird, lame, Iron-Man-suit-building mom.



That doesn't work, though, because the parents who will be paying for the costumes are the ones who teach their kids that bullying and peer pressure are wrong, and that creativity is good. The bigger, more popular kid who mocks your costume is the bad guy in every cartoon and after-school special. Why would any kid root for him? And why would parents root against their own nostalgia for (sometimes embarrassing) homemade Halloween outfits? (And if this ad was made to be seen by kids, it sure was shot poorly.)



That leads me to a distasteful theory about who Target was, well, targeting with this commercial. It's not aimed at internet geeks with the time, money and technical skills to make amazing Iron Man costumes for their kids. They aren't going to go to Target for a costume anyway. It's aimed at parents who don't have that time, money or expertise, and who don't want their kids to be singled out as weird or poor. Did Target pick a black family for the ad because they think African-American parents fit that profile? That would be the grossest type of marketing, but I think it's possible.



It doesn't matter if you can't make (or afford to make) your kid a costume, though: the ad still fails because the homemade costume it shows is cool. That mom did a great job with it, and clearly put in some time and effort, so there's nothing for her kid to be embarrassed about. If Target wanted to invoke shame and peer-pressure to make parents feel self-conscious about their income or costume-making skills, they should have at least shown a costume that was actually bad.

Juan Williams: Fox <b>News</b> Lets &#39;Black Guy With A Hispanic Name&#39; Host <b>...</b>

Juan Williams said Tuesday that he's still upset about his firing from NPR, and added that NPR does not understand the Fox News culture or audience. In an interview with Baltimore Sun columnist David Zurawik, Williams said he remains ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

BREAKING <b>NEWS</b>: The Hobbit Stays In New Zealand | Hobbit Movie <b>News</b> <b>...</b>

The night is darkest ere the dawn... and dawn has ever been the hope of Men! After days of closed door talks between New Zealand Prime Minister John Key and.

Juan Williams: Fox <b>News</b> Lets &#39;Black Guy With A Hispanic Name&#39; Host <b>...</b>

Juan Williams said Tuesday that he's still upset about his firing from NPR, and added that NPR does not understand the Fox News culture or audience. In an interview with Baltimore Sun columnist David Zurawik, Williams said he remains ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

BREAKING <b>NEWS</b>: The Hobbit Stays In New Zealand | Hobbit Movie <b>News</b> <b>...</b>

The night is darkest ere the dawn... and dawn has ever been the hope of Men! After days of closed door talks between New Zealand Prime Minister John Key and.

foreclosure defense

Figures my comment would be voted down. Most people in here aren’t looking for reality, just to tow the party line.

Predatory lending is mostly hype, driven by those who want to keep the eye off the ball. The higher risk market is a market, like it or not. And its a lucrative one when done right, with proper oversight to ensure lenders maintain sufficient capital from their increased profits (driven by increased interest rates) to cover the NATURALLY higher rate of default.

Naturally higher rate of default? uhhhh yea….duh.

That’s why its called high risk. You people are buying into the Nancy Pelosi Harry Reid nonsense of NO RISK lending.

High risk lending is how new businesses are formed, and they fuel development, meaning work, jobs, for tens of millions of people. Those jobs feed families. Families who right now are on food stamps, while you people talk about extending their welfare.

They don’t need welfare.

They need JOBS.

They want JOBS.

Most Americans want to work, but the jobs aren’t there. Because when builders can’t build, because buyers can’t buy, then workers can’t work. Period. And I’m not just talking about construction workers here. I’m talking about the independent owner operator who does long hauls of building materials. Or the guy who got hired on at the truck tire factory because more trucks are on the road. And the girl at home depot ringing up that new hot water heater you just bought because you’re upgrading your home to energy efficiency, or the guy who works at the roofing shingle factory, or the guy who drives the roach coach there each day because the factory’s open and doing a booming business, or the real estate lady, or the girl at the title company, or the landscaper, or home appraiser, who has more work than he can handle, or the local city govt hiring on 20 new pot hole fillers because their coffers are so full from the real estate sales taxes, to the guy working at the railroad that ships all that nice new lumber for all those homes going up for all those people buying them, to the cashier who got the extra shifts because business was so good at the local truck stop, to the….

There is no end to the jobs that were supported by our booming housing market. Alan Greenspan testified before Congress that the tent pole of our economy that was propping it up, was the housing market. He WARNED against letting it falter. Hell he wrote it in his book.

But no one listened.

Just like no one listens in here.

Because you’re too f$#king stupid, or too f#$king pompous, or too fuA#king something, because no one learned a damn thing.

No one got it. No one gets it.

Greenspan got it.

And so did Nancy Pelosi. And she USED it.

And it worked.

And now, all we have is a country full of dumbFa#4ks, running their mouths about things they read about on google. They don’t KNOW first hand, which by the way is the only reason I know.

I’m not smarter than anyone else and don’t claim to be. I just had first hand knowledge because it directly impacted me when it happened. And when my Mortgage broker called me the day Pelosi announced her “hearings” to “CLAMP DOWN ON LENDING”, and told me the money’s all frozen and the underwriters have stopped underwriting, thats when I SAW it happen, in real time.

Not some bs nonsense I’m regurgitating from google to try to sound erudite on a subject I know nothing about. No sir. First hand insider knowledge. The loans that were fine one day, were gone the next. And MILLIONS of developers were left holding properties, they could not sell.

Because suddenly there were no more mortgages for people to buy them with.

So go on, vote this one down too sheeple. Don’t let the truth stand in the way of your partisan pompousness. Just vote away. Might as well, because you vote the away the country just as easy.

Foreclosure Issues Pose Risks, Should Be Resolved With Time

Summary

Recently, some issues surrounding foreclosure sale proceedings have come to the forefront, leading several large banks to halt foreclosure sale proceedings in many states. The purpose of this note is twofold: to clear up some confusion on what exactly the issues at hand are and to bring some perspective to those issues. For instance, we note that the “foreclosure issue” that we are addressing here is separate from considerations surrounding potential bank loan repurchases. After the JPMorgan Chase earnings call, in which the company announced increased repurchase reserves, the two issues seem to have been muddied.

With respect to the issues surrounding foreclosure sales, while there are some outstanding risks, we think the issues that can be definitively addressed suggest a resolution could be possible over a matter of months. While that resolution should involve time, effort, and cost, we do not believe it will result in a major long–term disruption to the housing or mortgage markets.

Background

The issues surrounding foreclosure sale proceedings were initially brought to light on September 17, when GMAC/Ally halted evictions and REO sales in 23 judicial foreclosure states. Since that time, GMAC has extended their review to all 50 states, and four other large banks have halted foreclosure sales or launched internal reviews of their foreclosure processes: Bank of America has halted foreclosure sales in 50 states, JPMorgan Chase in 41 states, PNC in 23 states, and Litton is reviewing proceedings. Wells Fargo has stated that they are reviewing all pending foreclosures, but not halting the process and are confident their processes are robust. Attorneys General from all 50 states announced Wednesday that they have formed the Mortgage Foreclosure Multistate Group to review some of the practices around foreclosures proceedings.

The “foreclosure issues” being discussed at this point seem to encompass a few distinct problems, which we think it is useful to break down: robo-signers, MERS, and trust transfers.

The Robo-Signer Issue

While judicial foreclosure proceedings vary from state to state depending on different laws, many involve the presentation of an “affidavit of debt” before the court, which certifies that an employee of the mortgage servicer is familiar with the mortgage and borrower under question. Across several servicers burdened with an increasing number of foreclosures, there were employees who allegedly signed large numbers of affidavits without “personal knowledge” of the stated information. In addition, some affidavits were not notarized at the time of affidavit signing. These deficiencies created became a problem when brought before judges.

Importantly, however, although these deficiencies introduce risk, the issue does not seem to be insurmountable. We believe that the likelihood for widespread outright forgiveness of debt in cases where affidavits were signed or attested improperly is low. The details behind resolving cases such as these are not clear from a legal standpoint, but they seem likely to be, in part, a matter of rectifying the affidavit, issues of time, effort, and cost. Similar issues exist for fixing faulty foreclosure processes from the start; it may be possible to solve the robo-signer issue by staffing up teams or via other efforts. While more costly, and likely to delay foreclosure processes a few to several months, again, in our view, the issues do not seem to be insurmountable.

The MERS Issue

A second issue that has arisen questions the validity of MERS, an electronic registration system for mortgages meant to simplify the process of transferring mortgage ownership. In the past, there have been court rulings in support of the MERS model, e.g. that holding title for the benefit of another party was valid or that foreclosure initiation in the name of MERS was valid. There have also been cases in which the model was not supported (e.g. Landmark v. Kessler in Kansas), but in most instances it seems those efforts have failed or been overturned. In the event the matters challenging MERS succeed, resolution seems to be a practical issue; while the process is unclear at this point, it may simply be a matter of assigning the mortgage from MERS to the foreclosing party in cases where foreclosure in the name of MERS is ruled against or of simply foreclosing in the name of the bank instead of in the name of MERS. There has been at least one case (U.S. Bank v. Ibanez) in Massachusetts, which calls into question the separation of legal and beneficial title holding, similar to that used in the MERS model. That case is currently under appeal.

In addition, there also seems to be some misinformation about the MERS system itself and whether some banks are utilizing it or not. MERS put out a press release yesterday to address some of these concerns, citing the fact that Chase registers their correspondent loans in MERS, but does not register their retail loans.

The Trust Transfer Issue

A third issue that has arisen concerns the validity of the trust as the owner of the mortgage for loans that have been securitized. When the  note is transferred to a trust, it is endorsed “in blank”, meaning that the owner of the note is not assigned. The note is only endorsed to the trustee or servicer on behalf of the trust if they need to institute foreclosure proceedings. Our understanding is that this is a common practice when notes are transferred to a trust. With respect to physical documents, those are delivered and held by the designated custodian for the trust. Both the seller and the custodian should have verified the existence and validity of the notes upon transfer. If there were any deficiencies, the custodian should have notified the seller to remedy any deficiencies or if they could not be remedied, put the loan back to the seller. The transfer of the notes is governed by the loan purchase agreement which also provides for evidence of ownership of the loans by the trust. Also, when the notes are transferred, the servicer records the ownership of the loans with MERS.

The Risks

The primary risk in our view is not that the affidavits issue remains unresolved, but how much time and effort the resolution will take and how far the scope of investigations expands beyond this issue. As mentioned, the Attorneys General from each state have formed a task force to look into the affidavit matter to determine if they were processed correctly under state laws. However, given that AGs from non-judicial states have joined the task force, the scope of their investigation may expand beyond this issue and lengthen the timeframe for resolution. Complicating matters is that servicers have to abide by individual state regulations with respect to foreclosure processing.

In the end, we believe that the vast majority of foreclosures will stand assuming that the actions were taken against borrowers who were delinquent. However, the end result will likely be a further extension of foreclosure timelines. We believe that the incremental increase in loss severity should be minimal if these issues can be resolved in the next 3-6 months. For servicers this means additional staffing requirements as well as increased costs. With respect to investors, headline risk will remain the predominant near term concern. Additionally, the allocation of additional costs due to advancing and legal fees will have to worked out. We do believe that the tenets of securitization, MERS, extensive legal foundation that has been established over the last 30 years, and REMIC eligibility will stand.

In other words: all shall be well, and all manner of thing shall be well.

 

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bench craft company complaints
bench craft company complaints

Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

Exclusive: Yahoo Courts Former <b>News</b> Corp. Digital Exec Ross <b>...</b>

He's baaaaaack. Former Fox Interactive Media President Ross Levinsohn, that is, who is the top candidate to replace Hilary Schneider as Yahoo's US head, according to several sources close to the situation.

bench craft company complaints bench craft company complaints

Figures my comment would be voted down. Most people in here aren’t looking for reality, just to tow the party line.

Predatory lending is mostly hype, driven by those who want to keep the eye off the ball. The higher risk market is a market, like it or not. And its a lucrative one when done right, with proper oversight to ensure lenders maintain sufficient capital from their increased profits (driven by increased interest rates) to cover the NATURALLY higher rate of default.

Naturally higher rate of default? uhhhh yea….duh.

That’s why its called high risk. You people are buying into the Nancy Pelosi Harry Reid nonsense of NO RISK lending.

High risk lending is how new businesses are formed, and they fuel development, meaning work, jobs, for tens of millions of people. Those jobs feed families. Families who right now are on food stamps, while you people talk about extending their welfare.

They don’t need welfare.

They need JOBS.

They want JOBS.

Most Americans want to work, but the jobs aren’t there. Because when builders can’t build, because buyers can’t buy, then workers can’t work. Period. And I’m not just talking about construction workers here. I’m talking about the independent owner operator who does long hauls of building materials. Or the guy who got hired on at the truck tire factory because more trucks are on the road. And the girl at home depot ringing up that new hot water heater you just bought because you’re upgrading your home to energy efficiency, or the guy who works at the roofing shingle factory, or the guy who drives the roach coach there each day because the factory’s open and doing a booming business, or the real estate lady, or the girl at the title company, or the landscaper, or home appraiser, who has more work than he can handle, or the local city govt hiring on 20 new pot hole fillers because their coffers are so full from the real estate sales taxes, to the guy working at the railroad that ships all that nice new lumber for all those homes going up for all those people buying them, to the cashier who got the extra shifts because business was so good at the local truck stop, to the….

There is no end to the jobs that were supported by our booming housing market. Alan Greenspan testified before Congress that the tent pole of our economy that was propping it up, was the housing market. He WARNED against letting it falter. Hell he wrote it in his book.

But no one listened.

Just like no one listens in here.

Because you’re too f$#king stupid, or too f#$king pompous, or too fuA#king something, because no one learned a damn thing.

No one got it. No one gets it.

Greenspan got it.

And so did Nancy Pelosi. And she USED it.

And it worked.

And now, all we have is a country full of dumbFa#4ks, running their mouths about things they read about on google. They don’t KNOW first hand, which by the way is the only reason I know.

I’m not smarter than anyone else and don’t claim to be. I just had first hand knowledge because it directly impacted me when it happened. And when my Mortgage broker called me the day Pelosi announced her “hearings” to “CLAMP DOWN ON LENDING”, and told me the money’s all frozen and the underwriters have stopped underwriting, thats when I SAW it happen, in real time.

Not some bs nonsense I’m regurgitating from google to try to sound erudite on a subject I know nothing about. No sir. First hand insider knowledge. The loans that were fine one day, were gone the next. And MILLIONS of developers were left holding properties, they could not sell.

Because suddenly there were no more mortgages for people to buy them with.

So go on, vote this one down too sheeple. Don’t let the truth stand in the way of your partisan pompousness. Just vote away. Might as well, because you vote the away the country just as easy.

Foreclosure Issues Pose Risks, Should Be Resolved With Time

Summary

Recently, some issues surrounding foreclosure sale proceedings have come to the forefront, leading several large banks to halt foreclosure sale proceedings in many states. The purpose of this note is twofold: to clear up some confusion on what exactly the issues at hand are and to bring some perspective to those issues. For instance, we note that the “foreclosure issue” that we are addressing here is separate from considerations surrounding potential bank loan repurchases. After the JPMorgan Chase earnings call, in which the company announced increased repurchase reserves, the two issues seem to have been muddied.

With respect to the issues surrounding foreclosure sales, while there are some outstanding risks, we think the issues that can be definitively addressed suggest a resolution could be possible over a matter of months. While that resolution should involve time, effort, and cost, we do not believe it will result in a major long–term disruption to the housing or mortgage markets.

Background

The issues surrounding foreclosure sale proceedings were initially brought to light on September 17, when GMAC/Ally halted evictions and REO sales in 23 judicial foreclosure states. Since that time, GMAC has extended their review to all 50 states, and four other large banks have halted foreclosure sales or launched internal reviews of their foreclosure processes: Bank of America has halted foreclosure sales in 50 states, JPMorgan Chase in 41 states, PNC in 23 states, and Litton is reviewing proceedings. Wells Fargo has stated that they are reviewing all pending foreclosures, but not halting the process and are confident their processes are robust. Attorneys General from all 50 states announced Wednesday that they have formed the Mortgage Foreclosure Multistate Group to review some of the practices around foreclosures proceedings.

The “foreclosure issues” being discussed at this point seem to encompass a few distinct problems, which we think it is useful to break down: robo-signers, MERS, and trust transfers.

The Robo-Signer Issue

While judicial foreclosure proceedings vary from state to state depending on different laws, many involve the presentation of an “affidavit of debt” before the court, which certifies that an employee of the mortgage servicer is familiar with the mortgage and borrower under question. Across several servicers burdened with an increasing number of foreclosures, there were employees who allegedly signed large numbers of affidavits without “personal knowledge” of the stated information. In addition, some affidavits were not notarized at the time of affidavit signing. These deficiencies created became a problem when brought before judges.

Importantly, however, although these deficiencies introduce risk, the issue does not seem to be insurmountable. We believe that the likelihood for widespread outright forgiveness of debt in cases where affidavits were signed or attested improperly is low. The details behind resolving cases such as these are not clear from a legal standpoint, but they seem likely to be, in part, a matter of rectifying the affidavit, issues of time, effort, and cost. Similar issues exist for fixing faulty foreclosure processes from the start; it may be possible to solve the robo-signer issue by staffing up teams or via other efforts. While more costly, and likely to delay foreclosure processes a few to several months, again, in our view, the issues do not seem to be insurmountable.

The MERS Issue

A second issue that has arisen questions the validity of MERS, an electronic registration system for mortgages meant to simplify the process of transferring mortgage ownership. In the past, there have been court rulings in support of the MERS model, e.g. that holding title for the benefit of another party was valid or that foreclosure initiation in the name of MERS was valid. There have also been cases in which the model was not supported (e.g. Landmark v. Kessler in Kansas), but in most instances it seems those efforts have failed or been overturned. In the event the matters challenging MERS succeed, resolution seems to be a practical issue; while the process is unclear at this point, it may simply be a matter of assigning the mortgage from MERS to the foreclosing party in cases where foreclosure in the name of MERS is ruled against or of simply foreclosing in the name of the bank instead of in the name of MERS. There has been at least one case (U.S. Bank v. Ibanez) in Massachusetts, which calls into question the separation of legal and beneficial title holding, similar to that used in the MERS model. That case is currently under appeal.

In addition, there also seems to be some misinformation about the MERS system itself and whether some banks are utilizing it or not. MERS put out a press release yesterday to address some of these concerns, citing the fact that Chase registers their correspondent loans in MERS, but does not register their retail loans.

The Trust Transfer Issue

A third issue that has arisen concerns the validity of the trust as the owner of the mortgage for loans that have been securitized. When the  note is transferred to a trust, it is endorsed “in blank”, meaning that the owner of the note is not assigned. The note is only endorsed to the trustee or servicer on behalf of the trust if they need to institute foreclosure proceedings. Our understanding is that this is a common practice when notes are transferred to a trust. With respect to physical documents, those are delivered and held by the designated custodian for the trust. Both the seller and the custodian should have verified the existence and validity of the notes upon transfer. If there were any deficiencies, the custodian should have notified the seller to remedy any deficiencies or if they could not be remedied, put the loan back to the seller. The transfer of the notes is governed by the loan purchase agreement which also provides for evidence of ownership of the loans by the trust. Also, when the notes are transferred, the servicer records the ownership of the loans with MERS.

The Risks

The primary risk in our view is not that the affidavits issue remains unresolved, but how much time and effort the resolution will take and how far the scope of investigations expands beyond this issue. As mentioned, the Attorneys General from each state have formed a task force to look into the affidavit matter to determine if they were processed correctly under state laws. However, given that AGs from non-judicial states have joined the task force, the scope of their investigation may expand beyond this issue and lengthen the timeframe for resolution. Complicating matters is that servicers have to abide by individual state regulations with respect to foreclosure processing.

In the end, we believe that the vast majority of foreclosures will stand assuming that the actions were taken against borrowers who were delinquent. However, the end result will likely be a further extension of foreclosure timelines. We believe that the incremental increase in loss severity should be minimal if these issues can be resolved in the next 3-6 months. For servicers this means additional staffing requirements as well as increased costs. With respect to investors, headline risk will remain the predominant near term concern. Additionally, the allocation of additional costs due to advancing and legal fees will have to worked out. We do believe that the tenets of securitization, MERS, extensive legal foundation that has been established over the last 30 years, and REMIC eligibility will stand.

In other words: all shall be well, and all manner of thing shall be well.

 

bench craft company complaints

Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

Exclusive: Yahoo Courts Former <b>News</b> Corp. Digital Exec Ross <b>...</b>

He's baaaaaack. Former Fox Interactive Media President Ross Levinsohn, that is, who is the top candidate to replace Hilary Schneider as Yahoo's US head, according to several sources close to the situation.

bench craft company complaints bench craft company complaints

Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

Exclusive: Yahoo Courts Former <b>News</b> Corp. Digital Exec Ross <b>...</b>

He's baaaaaack. Former Fox Interactive Media President Ross Levinsohn, that is, who is the top candidate to replace Hilary Schneider as Yahoo's US head, according to several sources close to the situation.

bench craft company complaints bench craft company complaints

Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...

Google donates $5 million for <b>news</b> innovation to Knight Foundation <b>...</b>

Google and news organizations have had a rocky time of it. To overdramatize the situation only slightly: Google insists that it cares about journalism as a.

Exclusive: Yahoo Courts Former <b>News</b> Corp. Digital Exec Ross <b>...</b>

He's baaaaaack. Former Fox Interactive Media President Ross Levinsohn, that is, who is the top candidate to replace Hilary Schneider as Yahoo's US head, according to several sources close to the situation.

bench craft company complaints bench craft company complaints

Making Money Now

This is the new line touted mostly by the conservative side– all these campaign donations are insignificant, making the absurd argument that we spend more each year on irrelevant and unrelated things like yogurt or halloween candy, that the cash spent on campaigns is of negligible effect on the election outcomes, and, finally, that the threat of foreign influence on our elections through these funding channels is also negligible. Nothing to see here, move along.

David Brooks spouted this exact same nonsense in his op-ed column in the NY Times earlier this week, replete with a host of imaginary numbers to cloud just how much is being spent on both sides then claiming that, in the end, all the cash shoveled into this mid-term election has no real influence on the outcome, going so far as to claim that these multimillion dollar donations are more for the ‘feel-good’ effect they offer the donors than for the spoils that would most assuredly come back to them once their chosen candidates are declared victorious.

I think it’s obscene the amount of money spent by both sides of the aisle during these elections and am troubled by the anonymous nature of so many of these donations, but for the life of me I can’t figure out how best to correct it without running afoul of the Bill of Rights. Free speech is free speech even if you’re not always happy with the outcome. If a corporation wants to support a candidate, I’m guessing it should be allowed to do so just as labor unions and other large organizations can.

I do think, however, that these corporate institutions should not be able to hide behind anonymity when making these donations. All donations by corporations should have the company’s tax identification number on the donation check. Since the Citizens United ruling judged these corporations as having the same rights as individuals, perhaps their donations should be capped at the same totals as individuals. If Proctor & Gamble wants to give to candidate X, allow them to donate at the same limits as Mr. Proctor N. Gamble.

Another, more drastic solution would be to rule that the First Amendment doesn’t apply and set a federally-funded limit for all candidates. Allow every candidate an equivalent amount of campaign funds and airtime for commercials, eliminate third-party advertising, and leave it at that. Otherwise, it will soon reach the point where the total spent during an election cycle meets or exceeds the GDP of third world countries.

George..Mr. Donohue of the chamber of commerce has announced that outsourcing is good for this country. Tonight on MSNBC Obelman who is following up on this every day indicated that the Chamber of comm. is meeting with foreign countries telling them that the republicans will be back in power and outsourcing is here to stay. He and K. Rove are pressing hard for this to happen and it has been said that when the reps get in they will pressure people if they want their bills signed, they must sign onfor outsourcing. I wish, George that you would follow up on this very serious situation. Today a radical anti abortion group issued a promo calling Pres. Obama the "Angel of Death" and the last few people that this radical group did that to was shot and killed..ie.e Dr. Tillman. We have some serious stuff going on here and no one is paying attention. Thank God for MSNBC as they are the only ones I hear mentioning it. Many of these pro life tea party people are also behind the fact that they will overturn Roe v Wade and other things we have fought for for the last 20 years i.e. eliminate min. wage. People are being fooled by this group thinking it is only about the deficit which has gone down if you check on it. Please George..look into some of this stuff..it is true and it scares me. Also check on the fact that many reps. are asking for stimulus like Scott Brown who campaigned that it did not produce jobs, he now want stimulus to create jobs in his state. Hypocracy in the first order.

Breathe Better With Bitter - Science <b>News</b>

Science News. Vol. 175, March 28, 2009, p. 11. [Go to]. Citations & References : seperator. D. A. Deshpande et al. Bitter taste receptors on airway smooth muscle bronchodilate by localized calcium signaling and reverse obstruction. ...

Poll Has More of the Same Bad <b>News</b> for Democrats, Worse <b>News</b> for Obama

Congressional Democrats hold their own reasonably well against their GOP counterparts when voters are asked who would better handle key issues. By contrast, they trust Republicans more than Obama on most of those issues.

Nielsen: 362000 Monthly Users For <b>News</b> Corp.&#39;s Times Paywall <b>...</b>

News International's silence on subscriber numbers for Times and Sunday Times online content continues, three and a half months after the paywall went up. But today audience research company Nielsen has taken a stab at estimating the ...

bench craft company complaints
bench craft company complaints

Breathe Better With Bitter - Science <b>News</b>

Science News. Vol. 175, March 28, 2009, p. 11. [Go to]. Citations & References : seperator. D. A. Deshpande et al. Bitter taste receptors on airway smooth muscle bronchodilate by localized calcium signaling and reverse obstruction. ...

Poll Has More of the Same Bad <b>News</b> for Democrats, Worse <b>News</b> for Obama

Congressional Democrats hold their own reasonably well against their GOP counterparts when voters are asked who would better handle key issues. By contrast, they trust Republicans more than Obama on most of those issues.

Nielsen: 362000 Monthly Users For <b>News</b> Corp.&#39;s Times Paywall <b>...</b>

News International's silence on subscriber numbers for Times and Sunday Times online content continues, three and a half months after the paywall went up. But today audience research company Nielsen has taken a stab at estimating the ...

bench craft company complaints bench craft company complaints

This is the new line touted mostly by the conservative side– all these campaign donations are insignificant, making the absurd argument that we spend more each year on irrelevant and unrelated things like yogurt or halloween candy, that the cash spent on campaigns is of negligible effect on the election outcomes, and, finally, that the threat of foreign influence on our elections through these funding channels is also negligible. Nothing to see here, move along.

David Brooks spouted this exact same nonsense in his op-ed column in the NY Times earlier this week, replete with a host of imaginary numbers to cloud just how much is being spent on both sides then claiming that, in the end, all the cash shoveled into this mid-term election has no real influence on the outcome, going so far as to claim that these multimillion dollar donations are more for the ‘feel-good’ effect they offer the donors than for the spoils that would most assuredly come back to them once their chosen candidates are declared victorious.

I think it’s obscene the amount of money spent by both sides of the aisle during these elections and am troubled by the anonymous nature of so many of these donations, but for the life of me I can’t figure out how best to correct it without running afoul of the Bill of Rights. Free speech is free speech even if you’re not always happy with the outcome. If a corporation wants to support a candidate, I’m guessing it should be allowed to do so just as labor unions and other large organizations can.

I do think, however, that these corporate institutions should not be able to hide behind anonymity when making these donations. All donations by corporations should have the company’s tax identification number on the donation check. Since the Citizens United ruling judged these corporations as having the same rights as individuals, perhaps their donations should be capped at the same totals as individuals. If Proctor & Gamble wants to give to candidate X, allow them to donate at the same limits as Mr. Proctor N. Gamble.

Another, more drastic solution would be to rule that the First Amendment doesn’t apply and set a federally-funded limit for all candidates. Allow every candidate an equivalent amount of campaign funds and airtime for commercials, eliminate third-party advertising, and leave it at that. Otherwise, it will soon reach the point where the total spent during an election cycle meets or exceeds the GDP of third world countries.

George..Mr. Donohue of the chamber of commerce has announced that outsourcing is good for this country. Tonight on MSNBC Obelman who is following up on this every day indicated that the Chamber of comm. is meeting with foreign countries telling them that the republicans will be back in power and outsourcing is here to stay. He and K. Rove are pressing hard for this to happen and it has been said that when the reps get in they will pressure people if they want their bills signed, they must sign onfor outsourcing. I wish, George that you would follow up on this very serious situation. Today a radical anti abortion group issued a promo calling Pres. Obama the "Angel of Death" and the last few people that this radical group did that to was shot and killed..ie.e Dr. Tillman. We have some serious stuff going on here and no one is paying attention. Thank God for MSNBC as they are the only ones I hear mentioning it. Many of these pro life tea party people are also behind the fact that they will overturn Roe v Wade and other things we have fought for for the last 20 years i.e. eliminate min. wage. People are being fooled by this group thinking it is only about the deficit which has gone down if you check on it. Please George..look into some of this stuff..it is true and it scares me. Also check on the fact that many reps. are asking for stimulus like Scott Brown who campaigned that it did not produce jobs, he now want stimulus to create jobs in his state. Hypocracy in the first order.

bench craft company complaints

Breathe Better With Bitter - Science <b>News</b>

Science News. Vol. 175, March 28, 2009, p. 11. [Go to]. Citations & References : seperator. D. A. Deshpande et al. Bitter taste receptors on airway smooth muscle bronchodilate by localized calcium signaling and reverse obstruction. ...

Poll Has More of the Same Bad <b>News</b> for Democrats, Worse <b>News</b> for Obama

Congressional Democrats hold their own reasonably well against their GOP counterparts when voters are asked who would better handle key issues. By contrast, they trust Republicans more than Obama on most of those issues.

Nielsen: 362000 Monthly Users For <b>News</b> Corp.&#39;s Times Paywall <b>...</b>

News International's silence on subscriber numbers for Times and Sunday Times online content continues, three and a half months after the paywall went up. But today audience research company Nielsen has taken a stab at estimating the ...

bench craft company complaints bench craft company complaints

Breathe Better With Bitter - Science <b>News</b>

Science News. Vol. 175, March 28, 2009, p. 11. [Go to]. Citations & References : seperator. D. A. Deshpande et al. Bitter taste receptors on airway smooth muscle bronchodilate by localized calcium signaling and reverse obstruction. ...

Poll Has More of the Same Bad <b>News</b> for Democrats, Worse <b>News</b> for Obama

Congressional Democrats hold their own reasonably well against their GOP counterparts when voters are asked who would better handle key issues. By contrast, they trust Republicans more than Obama on most of those issues.

Nielsen: 362000 Monthly Users For <b>News</b> Corp.&#39;s Times Paywall <b>...</b>

News International's silence on subscriber numbers for Times and Sunday Times online content continues, three and a half months after the paywall went up. But today audience research company Nielsen has taken a stab at estimating the ...

bench craft company complaints bench craft company complaints

Breathe Better With Bitter - Science <b>News</b>

Science News. Vol. 175, March 28, 2009, p. 11. [Go to]. Citations & References : seperator. D. A. Deshpande et al. Bitter taste receptors on airway smooth muscle bronchodilate by localized calcium signaling and reverse obstruction. ...

Poll Has More of the Same Bad <b>News</b> for Democrats, Worse <b>News</b> for Obama

Congressional Democrats hold their own reasonably well against their GOP counterparts when voters are asked who would better handle key issues. By contrast, they trust Republicans more than Obama on most of those issues.

Nielsen: 362000 Monthly Users For <b>News</b> Corp.&#39;s Times Paywall <b>...</b>

News International's silence on subscriber numbers for Times and Sunday Times online content continues, three and a half months after the paywall went up. But today audience research company Nielsen has taken a stab at estimating the ...

bench craft company complaints bench craft company complaints

Companies Making Money

Developer Dylan Ginsburg has noticed that a lot of iPhone companies (including most of the folks I spoke with at GDC last week) don't like to talk about exactly how much money they've made on the App Store. But he has no such compunctions, so he's written up a nice post on his blog about how much his River of News RSS app for the iPad has made so far. The short answer? About $20,600 since the app was released on August 19th. The app, which peaked in the top 30 (good, but not outstanding), has sold about 9,500 copies so far, and has made about $5500 of that total in the past month, which Ginsburg says seems like a pretty standard period.



I can tell you from my own knowledge that Ginsburg could be making more -- it sounds like he hasn't even started exploring advertising or in-app purchases in his app, and I've heard from many developers that those can be very helpful in the right places. But more important, Ginsburg says the satisfaction he's getting from working on the App Store is better than any monetary gain -- he just recently stepped away from a corporate job, and plans to make a go at creating apps for a full-time living.



It's cool to hear a straight story from one developer on the App Store about just how viable creating apps is. Of course, one thing Ginsburg doesn't talk about is how much work and training went into making his app -- that $20k in sales didn't just appear out of thin air. And not all developers see even his level of modest success, since there are so many apps on the store that don't even make it into the top lists. But Ginsburg is as good an example as any of the kinds of opportunities Apple has created with its App Store platform.

Roundup, Venture Capital, Innovation Economy

VCs Making Smaller Investments, V-Vehicle Restarting Under New CEO, Qualcomm Buys iSkoot, & More San Diego BizTech News

Bruce V. Bigelow 10/18/10

A common theme in last week’s technology news is how companies and entire industries continually remake their businesses, whether it’s the venture capital community, startup carmakers, or a San Diego company that specializes in data storage technology. Read on to see what I mean.

—As the venture capital survey data comes in from the three months that ended September 30, we’re seeing a nationwide rebound in first-time financings for startups. Data from CB Insights, the New York financial information firm, shows seed-stage deals increasing from 1 percent of the deals in the third quarter of 2009 to 11 percent of all deals during the third quarter.

—Venture capital surveys from CB Insights and the MoneyTree Report both show an increasing deal count, but a decline in the total amount of invested. In a year-over-year comparison, the MoneyTree Report showed a 7 percent decline in capital invested with a 9 percent increase in deal count during the third quarter, when venture firms invested $4.8 billion in 780 deals nationwide.

—V-Vehicle, the San Diego startup automaker, changed its name to Next Autoworks. The company, which has raised $87 million from investors that include Kleiner Perkins, Google Ventures, and T. Boone Pickens, also hired industry veteran Kathleen Ligocki as CEO.

—Overland Storage (NASDAQ: OVRL), the San Diego data storage technology specialist, acquired Sunnyvale, CA-based MaxiScale, which provides data protection and data management technologies. Financial terms were not disclosed.

—San Diego’s Qualcomm (NASDAQ: QCOM) acquired San Francisco-based mobile social networks software developer iSkoot Technologies. Financial terms were not disclosed.

—Biz Stone, a Twitter co-founder and the San Francisco-based company’s creative director, told The San Diego Union-Tribune last week that a new-and-improved version of the micro-blogging service should improve service worldwide. “It was re-architected to actually be snappier, faster – to deal with information faster,” said Stone, who was in San Diego to speak at the 2010 Tijuana Innovadora conference on innovation across the border.

—Predixion Software, based just across the Orange County line in Aliso Viejo, CA, said it had closed on $5 million in Series A financing, led by DFJ Frontier. Predixion, which specializes in low-cost, self-service in the cloud predictive analytics software, said it will use the funds to expand product development,increase sales and marketing initiatives, and expand its sales channel programs and strategic partnership activities.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492

Is Fox <b>News</b> more tolerant than NPR? « Hot Air

The right-wing intolerants of Fox News' audience didn't complain as much about an explicitly liberal commentator on Fox as the tolerant, diverse audience at NPR did? Barone has to be joking, right? Not according to NPR, where omsbud ...

BREAKING <b>NEWS</b>: No Jail For Lindsay Lohan - Judge Orders Her To <b>...</b>

http://link.brightcove.com/services/link/bcpid16157557001/bctid645210306001 Lindsay Lohan caught a major break on Friday when Judge Elden Fox chose not to send her to jail and ordered her to stay in rehab at the Betty Ford Center.

Lindsay Lohan Photos &amp; Pics | BREAKING <b>NEWS</b> - Lindsay Lohan Avoids <b>...</b>

Lindsay Lohan appeared before Judge Elden Fox at the Beverly Hills Courthouse this morning for her latest probation violation hearing, and it appears as though spending the last month at the Betty Ford Center helped convince the judge ...

eric seiger eric seiger
Developer Dylan Ginsburg has noticed that a lot of iPhone companies (including most of the folks I spoke with at GDC last week) don't like to talk about exactly how much money they've made on the App Store. But he has no such compunctions, so he's written up a nice post on his blog about how much his River of News RSS app for the iPad has made so far. The short answer? About $20,600 since the app was released on August 19th. The app, which peaked in the top 30 (good, but not outstanding), has sold about 9,500 copies so far, and has made about $5500 of that total in the past month, which Ginsburg says seems like a pretty standard period.



I can tell you from my own knowledge that Ginsburg could be making more -- it sounds like he hasn't even started exploring advertising or in-app purchases in his app, and I've heard from many developers that those can be very helpful in the right places. But more important, Ginsburg says the satisfaction he's getting from working on the App Store is better than any monetary gain -- he just recently stepped away from a corporate job, and plans to make a go at creating apps for a full-time living.



It's cool to hear a straight story from one developer on the App Store about just how viable creating apps is. Of course, one thing Ginsburg doesn't talk about is how much work and training went into making his app -- that $20k in sales didn't just appear out of thin air. And not all developers see even his level of modest success, since there are so many apps on the store that don't even make it into the top lists. But Ginsburg is as good an example as any of the kinds of opportunities Apple has created with its App Store platform.

Roundup, Venture Capital, Innovation Economy

VCs Making Smaller Investments, V-Vehicle Restarting Under New CEO, Qualcomm Buys iSkoot, & More San Diego BizTech News

Bruce V. Bigelow 10/18/10

A common theme in last week’s technology news is how companies and entire industries continually remake their businesses, whether it’s the venture capital community, startup carmakers, or a San Diego company that specializes in data storage technology. Read on to see what I mean.

—As the venture capital survey data comes in from the three months that ended September 30, we’re seeing a nationwide rebound in first-time financings for startups. Data from CB Insights, the New York financial information firm, shows seed-stage deals increasing from 1 percent of the deals in the third quarter of 2009 to 11 percent of all deals during the third quarter.

—Venture capital surveys from CB Insights and the MoneyTree Report both show an increasing deal count, but a decline in the total amount of invested. In a year-over-year comparison, the MoneyTree Report showed a 7 percent decline in capital invested with a 9 percent increase in deal count during the third quarter, when venture firms invested $4.8 billion in 780 deals nationwide.

—V-Vehicle, the San Diego startup automaker, changed its name to Next Autoworks. The company, which has raised $87 million from investors that include Kleiner Perkins, Google Ventures, and T. Boone Pickens, also hired industry veteran Kathleen Ligocki as CEO.

—Overland Storage (NASDAQ: OVRL), the San Diego data storage technology specialist, acquired Sunnyvale, CA-based MaxiScale, which provides data protection and data management technologies. Financial terms were not disclosed.

—San Diego’s Qualcomm (NASDAQ: QCOM) acquired San Francisco-based mobile social networks software developer iSkoot Technologies. Financial terms were not disclosed.

—Biz Stone, a Twitter co-founder and the San Francisco-based company’s creative director, told The San Diego Union-Tribune last week that a new-and-improved version of the micro-blogging service should improve service worldwide. “It was re-architected to actually be snappier, faster – to deal with information faster,” said Stone, who was in San Diego to speak at the 2010 Tijuana Innovadora conference on innovation across the border.

—Predixion Software, based just across the Orange County line in Aliso Viejo, CA, said it had closed on $5 million in Series A financing, led by DFJ Frontier. Predixion, which specializes in low-cost, self-service in the cloud predictive analytics software, said it will use the funds to expand product development,increase sales and marketing initiatives, and expand its sales channel programs and strategic partnership activities.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492

Is Fox <b>News</b> more tolerant than NPR? « Hot Air

The right-wing intolerants of Fox News' audience didn't complain as much about an explicitly liberal commentator on Fox as the tolerant, diverse audience at NPR did? Barone has to be joking, right? Not according to NPR, where omsbud ...

BREAKING <b>NEWS</b>: No Jail For Lindsay Lohan - Judge Orders Her To <b>...</b>

http://link.brightcove.com/services/link/bcpid16157557001/bctid645210306001 Lindsay Lohan caught a major break on Friday when Judge Elden Fox chose not to send her to jail and ordered her to stay in rehab at the Betty Ford Center.

Lindsay Lohan Photos &amp; Pics | BREAKING <b>NEWS</b> - Lindsay Lohan Avoids <b>...</b>

Lindsay Lohan appeared before Judge Elden Fox at the Beverly Hills Courthouse this morning for her latest probation violation hearing, and it appears as though spending the last month at the Betty Ford Center helped convince the judge ...

eric seiger eric seiger

Making Money Online With

“The long-simmering feud between Democrats and the U.S. Chamber of Commerce has erupted into a full-scale war…

“‘Just this week, we learned that one of the largest groups paying for these ads regularly takes in money from foreign corporations,’ Obama said at a Thursday rally for Maryland Gov. Martin O’Malley. ‘So groups that receive foreign money are spending huge sums to influence American elections, and they won’t tell you where the money for their ads comes from.’

“R. Bruce Josten, the chamber’s executive vice president for government affairs, said in an interview Friday that the group ‘has never and will never’ use dues collected from overseas business councils, known as ‘AmChams,’ for U.S. political activities. He said the chamber is the victim of ‘a smear campaign’ orchestrated with the involvement of the White House.

“‘This is an outlandish act of desperation from people who are not able to run on their record,’ Josten said. ‘They have stooped to smear campaigns.’”

***

“But a closer examination shows that there is little evidence that what the chamber does in collecting overseas dues is improper or even unusual, according to both liberal and conservative election-law lawyers and campaign finance documents…

“Organizations from both ends of the political spectrum, from liberal ones like the A.F.L.-C.I.O. and the Sierra Club to conservative groups like the National Rifle Association, have international affiliations and get money from foreign entities while at the same time pushing political causes in the United States.

“In addition, more than 160 political action committees active in campaigning have been set up by corporations that are based overseas, including military contractors like B.A.E. Systems and pharmaceutical giants like GlaxoSmithKline, according to data from the Center for Responsive Politics, a nonpartisan research service…

“Richard L. Hasen, an election-law specialist at Loyola Law School in Los Angeles, said there were legitimate questions about whether foreign money could be making its way into campaigns, particularly because many groups are not required to disclose their donors. But he added, ‘I’ve seen no proof of the chamber funneling a penny of foreign money into U.S. elections.’”

***

“Obama’s ‘foreign money’ claims are bogus. They’re also pretty rich, considering how his 2008 campaign handled foreign credit cards. From that National Journal story: ‘The lack of a computerized address-verification system would allow the Obama campaign’s computers to accept online donations from U.S. citizens above legal limits, and to accept donations from foreigners who are barred by law from contributing at all.’ Perhaps its time to remind people of that issue again. Oh, wait, I just did!”

***

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The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake twitter

“The long-simmering feud between Democrats and the U.S. Chamber of Commerce has erupted into a full-scale war…

“‘Just this week, we learned that one of the largest groups paying for these ads regularly takes in money from foreign corporations,’ Obama said at a Thursday rally for Maryland Gov. Martin O’Malley. ‘So groups that receive foreign money are spending huge sums to influence American elections, and they won’t tell you where the money for their ads comes from.’

“R. Bruce Josten, the chamber’s executive vice president for government affairs, said in an interview Friday that the group ‘has never and will never’ use dues collected from overseas business councils, known as ‘AmChams,’ for U.S. political activities. He said the chamber is the victim of ‘a smear campaign’ orchestrated with the involvement of the White House.

“‘This is an outlandish act of desperation from people who are not able to run on their record,’ Josten said. ‘They have stooped to smear campaigns.’”

***

“But a closer examination shows that there is little evidence that what the chamber does in collecting overseas dues is improper or even unusual, according to both liberal and conservative election-law lawyers and campaign finance documents…

“Organizations from both ends of the political spectrum, from liberal ones like the A.F.L.-C.I.O. and the Sierra Club to conservative groups like the National Rifle Association, have international affiliations and get money from foreign entities while at the same time pushing political causes in the United States.

“In addition, more than 160 political action committees active in campaigning have been set up by corporations that are based overseas, including military contractors like B.A.E. Systems and pharmaceutical giants like GlaxoSmithKline, according to data from the Center for Responsive Politics, a nonpartisan research service…

“Richard L. Hasen, an election-law specialist at Loyola Law School in Los Angeles, said there were legitimate questions about whether foreign money could be making its way into campaigns, particularly because many groups are not required to disclose their donors. But he added, ‘I’ve seen no proof of the chamber funneling a penny of foreign money into U.S. elections.’”

***

“Obama’s ‘foreign money’ claims are bogus. They’re also pretty rich, considering how his 2008 campaign handled foreign credit cards. From that National Journal story: ‘The lack of a computerized address-verification system would allow the Obama campaign’s computers to accept online donations from U.S. citizens above legal limits, and to accept donations from foreigners who are barred by law from contributing at all.’ Perhaps its time to remind people of that issue again. Oh, wait, I just did!”

***

Gawker Media Community Policy

These are our sites, and we reserve the right to moderate the discussion. The basic rules are standard: An attack on authors or other commenters is unlikely to make you popular. Think before you disparage social or ethnic groups. Don't spam. Don't post pornography or copyrighted imagery. Stay on topic.

That said, the community policy of Gawker Media is forgiving. If your criticism is articulate, it will likely get through. We dole it out; we can take it. What do we mean by articulate? Support your point with argument, facts and citations. Good grammar and spelling also help.

Got questions? Need answers? See our FAQ and site-specific community guidelines.

Close


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The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake twitter

robert shumake twitter

robert shumake twitter

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake hall of shame

“The long-simmering feud between Democrats and the U.S. Chamber of Commerce has erupted into a full-scale war…

“‘Just this week, we learned that one of the largest groups paying for these ads regularly takes in money from foreign corporations,’ Obama said at a Thursday rally for Maryland Gov. Martin O’Malley. ‘So groups that receive foreign money are spending huge sums to influence American elections, and they won’t tell you where the money for their ads comes from.’

“R. Bruce Josten, the chamber’s executive vice president for government affairs, said in an interview Friday that the group ‘has never and will never’ use dues collected from overseas business councils, known as ‘AmChams,’ for U.S. political activities. He said the chamber is the victim of ‘a smear campaign’ orchestrated with the involvement of the White House.

“‘This is an outlandish act of desperation from people who are not able to run on their record,’ Josten said. ‘They have stooped to smear campaigns.’”

***

“But a closer examination shows that there is little evidence that what the chamber does in collecting overseas dues is improper or even unusual, according to both liberal and conservative election-law lawyers and campaign finance documents…

“Organizations from both ends of the political spectrum, from liberal ones like the A.F.L.-C.I.O. and the Sierra Club to conservative groups like the National Rifle Association, have international affiliations and get money from foreign entities while at the same time pushing political causes in the United States.

“In addition, more than 160 political action committees active in campaigning have been set up by corporations that are based overseas, including military contractors like B.A.E. Systems and pharmaceutical giants like GlaxoSmithKline, according to data from the Center for Responsive Politics, a nonpartisan research service…

“Richard L. Hasen, an election-law specialist at Loyola Law School in Los Angeles, said there were legitimate questions about whether foreign money could be making its way into campaigns, particularly because many groups are not required to disclose their donors. But he added, ‘I’ve seen no proof of the chamber funneling a penny of foreign money into U.S. elections.’”

***

“Obama’s ‘foreign money’ claims are bogus. They’re also pretty rich, considering how his 2008 campaign handled foreign credit cards. From that National Journal story: ‘The lack of a computerized address-verification system would allow the Obama campaign’s computers to accept online donations from U.S. citizens above legal limits, and to accept donations from foreigners who are barred by law from contributing at all.’ Perhaps its time to remind people of that issue again. Oh, wait, I just did!”

***

Gawker Media Community Policy

These are our sites, and we reserve the right to moderate the discussion. The basic rules are standard: An attack on authors or other commenters is unlikely to make you popular. Think before you disparage social or ethnic groups. Don't spam. Don't post pornography or copyrighted imagery. Stay on topic.

That said, the community policy of Gawker Media is forgiving. If your criticism is articulate, it will likely get through. We dole it out; we can take it. What do we mean by articulate? Support your point with argument, facts and citations. Good grammar and spelling also help.

Got questions? Need answers? See our FAQ and site-specific community guidelines.

Close


robert shumake detroit

robert shumake hall of shame

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake twitter

robert shumake twitter

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake hall of shame

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake detroit

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

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The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake detroit

Jewelry is one of the hottest selling items online, and there are many ways that you can supplement your income by selling it online. You don't need to have a big investment, or a store in your home. You really don't even need to have the jewelry in stock to make money online. Rings, necklaces, earrings and other trinkets are big business for a lot of stay at home moms and dads who want to make money online. There are several simple ways to set up shop and get started with your own easy online jewelry business. You just need to know where to begin.

If you think about department stores and even discount stores, many of them bring in new merchandise on a seasonal basis. They clear out the old to make room for the new. What happens to that merchandise that they just clear out? They either put it on sale, and offer customers a clearance price, or it ends up at discounted stores like TJ Maxx or Marshalls. Many times there are sales on eBay too where you can buy bags of jewelry by the pound at deep discounts. I have seen some of this jewelry go for $0.99 on some auctions. Imagine just winning one of these bids, getting the jewelry, going to your local craft store, repairing pieces that need repair, and reselling them on eBay at the true value of the piece. You could make hundreds of dollars easily.

Another way to make money with jewelry online is to build a website. You don't even need a product. Many big name companies like Ice.com and Diamonds.com have affiliate programs that you can sign up for, and they will pay you a percentage of each sale from banners and text links that you add to you website. Build a big enough website, write lots of articles about jewelry, and soon you will drive a lot of traffic to your site. You can also use the pay per click method to drive traffic to your website. Affiliate commissions add up fast.

Finally, you can create your own pieces and sell them online. Most large craft stores sell everything you need to get started. Use your creativity and have fun with it. You can choose to sell your creations on eBay or build your own website. Original pieces will attract attention, and you might find yourself building a very profitable online business. Creating your own jewelry also lends itself to grabbing a stand at local flea market, and making a few extra dollars on the weekend. Call around town to some of the local boutiques, and find buyers for your jewelry.

There are many ways to make money online with jewelry, and there are no limits to how much you can accomplish with a little ingenuity.



robert shumake twitter

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...

robert shumake detroit

The openSUSE Build Service 2.1 released - openSUSE <b>News</b>

This iteration has enhanced the web user interface of openSUSE Build Service with features that were previously only in the osc command line client. It now allows submitting of packages to other projects, showing a history of changes ...

Loopt adds Facebook Places integration | iLounge <b>News</b>

iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.

ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>

Scott Ashjian calls himself the “Tea Party of Nevada” candidate for US Senate, but he tells ABC News that he would be “at peace” knowing he helped re-elect Harry Reid by siphoning votes away from Sharron Angle. The Note, authored by ABC ...