Franklin Lakes Half: Why I DNS-ed It
This post was supposed to be a race recap of the inaugural Franklin Lakes Half.
I was supposed to…
A former Sacramento State professor, he was a co-founder of the Royal Chicano Air Force, an influential Chicano political artists group.
Looking at Yahoo today, there are at least two big picture questions: (1) Why does the stock keep going up if revenue isn’t growing? and (2) Does the stock’s success suggest that Mayer is brilliant, lucky, or overrated?
The answer to the first question helps to answer the second question. The irony of the Mayer Stimulus is that much of the stock increase has been driven by investments by the CEOs that came before her. Co-founder Jerry Yang negotiated a 25 percent stake in Alibaba, the Chinese online search-and-commerce juggernaut, which has exploded in the last year and is nearing an IPO. “Most of the enthusiasm about Yahoo’s stock price is a reflection of the company’s investment in Alibaba [the Chinese search-and-shopping giant] and Yahoo Japan,” said analyst Scott Kessler.
So, yes, Marissa Mayer has been very, very lucky. Yahoo emerged from a four-year nap just as she took the job, thanks to the appreciation of an investment made years earlier. But luck and skill aren’t mutually exclusive. Yahoo is a online-advertising business—search and display—and Mayer understands the most important thing about online advertising, which is that it’s moving to mobile and the company wasn’t ready for it. Look beyond the $1.1 billion purchase of Tumblr and the glitzy mag and conference appearances, and that’s where Mayer’s focus has been: Dragging the company into mobile age by updating its email, apps, video, and news portals for ambulatory, non-desktop readers.
But even after a year, Yahoo doesn’t have an obvious path forward.
Read more. [Image: Reuters]
When you are really grounded, everything is easier to accomplish, things feel stable and you can manage a much more full life without being frantic! Here’s some “get grounded” feng shui you can do right now!
You know something is really boring when economists say it is.
That’s what I thought to myself when the economists at the Brookings Institution’s Panel on Economic Activity said only the “serious” ones would stick around for the last paper on seasonal adjustmentzzzzzzz…
… but a funny thing happened on the way to catching up on sleep. It turns out seasonal adjustments are really interesting! They explain why, ever since Lehmangeddon, the economy has looked like it’s speeding up in the winter and slowing down in the summer.
In other words, everything you’ve read about “Recovery Winter" the past few winters has just been a statistical artifact of naïve seasonal adjustments. Oops.
Okay, but what are seasonal adjustments, and how do they work? Well, you know the jobs number we obsess over every month? It’s cooked, in a way. For example, the economy didn’t really add 169,000 jobs in August. It added 378,000 jobs. But that 378,000 number doesn’t tell us to much. See, the economy pretty predictably adds more jobs during some months more than others. Things like warmer weather (which helps construction), summer break, and holiday shopping create these annual up-and-downs. So to give us an idea of how good or bad each month actually is, the Bureau of Labor Statistics adjusts for how many jobs we would expect at that time of year. This doesn’t change how many jobs we think have gotten created over the course of the year; it changes how many jobs we think have gotten created each month of the year.
Read more. [Image: Reuters]