How many times have you used a product and really didn’t understand how the technology inside that little gizmo of yours worked? For me, I think about things like that way too often, enough to drive me to research products, various technologies, and applications to answer these very questions. In doing so, I came upon a company called iPass (IPAS), Inc. from California. Some of you might have heard of this wonderful little tech company but I bet many people have not. If you are not aware of iPass, I am convinced that you have used their technology to get you access to the internet.

“iPass is dedicated to helping our customers harness the power of the mobile internet in a simple, secure and cost-effective manner. Extending and improving our iPass Mobile Office service across consumer-driven enterprise platforms such as the iPhone, Nokia S60 and Mac OS X is critical to this effort. As web-friendly smartphones enter the business via employees' pockets, they are driving increased IT complexity. iPass will continue to be the answer for enterprises who want to cost-effectively serve the evolving needs of their mobile workforce."

Oh, how the times have changed. It used to be relatively easy to pick any commodity stock, an oil service stock or whatever ag company, and feel good at night that the millions upon millions (as “The Rock” use to say) of people would consume it at an ultrasonic pace.

Hmmm. Fast-forward to today and we have no idea what companies might be around a year or two from now. Is that a scary revelation for most? Probably, or then again, probably not. I am constantly amazed when I hear many of the so-called financial pundits - even though I admire mostly all of them - say words of wisdom like 'after a big move up, sell equities to free up cash'. I guess that would be okay, however, as you're buying equities in incremental waves the whole way down from the beginning of 2008 then those words do not hold a lot of weight.

After listening to Dov Charney's, the charismatic CEO of American Apperal (APP), latest earnings conference call for the 2nd quarter, it got me thinking that this up-and-coming company based out of LA could be something to keep your eyes on. I realize there is no idea so good that it cannot be spoiled by pundits or nay-sayers. However, this next Urban Outfitters (URBN) posted Q2 numbers that would make Richard Simmons quiver.

American Apparel reported net sales for the quarter ended June 30, 2008 of $133 million, a 38.9% increase over net sales of $95.7 million for the quarter ended June 30, 2007. Total retail sales increased 58% to $81.3 million from $51.3 million for the prior year second quarter, with comparable store sales for stores open at least 12 months rising 23%. American Apparel ended the second quarter of 2008 with 195 stores, having opened 9 stores in the period. The company operated 154 stores at the end of the second quarter of 2007. APP is converting some of the old Shaper Image stores into the trendy APP stores - great idea considering there is little build out and some the Shaper Image stores had great locations. With the real estate market up in arms, APP has leverage in terms of negotiating great leases or purchases.