Efe's Corner's Instablog Efe is a financial news correspondent & reports NEWS related to NYSE,NASDAQ,FX markets . Efe's Corner http://seekingalpha.com/user/925298/instablog Male CEOs Pay More Especially They Have A Baby Girl http://seekingalpha.com/instablog/925298-efe-s-corner/1429591-male-ceos-pay-more-especially-they-have-a-baby-girl?source=feed 1429591 Your CEO may pay more when you have kids ...

According to new research from Aalborg University economics professor Michael Dahl, University of Maryland Smith School of Business professor Cristian Dezso and Columbia Business School professor David Gaddis Ross. Presented at the annual American Economic Association meeting in San Diego interesting findings was presented to audience.

According to a WSJ article based on this research when a male chief executive has a baby,his workers' salaries shrink by 0.2%, or about $100, per year. If the child is a son this decline is %0.4.This is a study conducted over 10 years in Denmark.

Male employees are always losers!! However, if the CEO have a daughter and if she is their first child. In that scenario, female employees get the larger boost, with their salary tending to grow by 1.1%, compared with a 0.6% gain for male employees.

Female workers always benefit In general, female workers benefit more when a male CEO has kids, regardless of the child's gender or birth order. When a male executive has a son, female employees' salaries shrink 0.2%, compared with a 0.5% drop for male workers. If the baby boy is the CEOs first child, female employees' salaries go up 0.8%.

I personally witnessed this in some of the New York based firms whenever the CEO or one of the executives have their first child they are more compassionate towards their female employees.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

]]> Mon, 07 Jan 2013 13:17:28 -0500 Your CEO may pay more when you have kids ...

According to new research from Aalborg University economics professor Michael Dahl, University of Maryland Smith School of Business professor Cristian Dezso and Columbia Business School professor David Gaddis Ross. Presented at the annual American Economic Association meeting in San Diego interesting findings was presented to audience.

According to a WSJ article based on this research when a male chief executive has a baby,his workers' salaries shrink by 0.2%, or about $100, per year. If the child is a son this decline is %0.4.This is a study conducted over 10 years in Denmark.

Male employees are always losers!! However, if the CEO have a daughter and if she is their first child. In that scenario, female employees get the larger boost, with their salary tending to grow by 1.1%, compared with a 0.6% gain for male employees.

Female workers always benefit In general, female workers benefit more when a male CEO has kids, regardless of the child's gender or birth order. When a male executive has a son, female employees' salaries shrink 0.2%, compared with a 0.5% drop for male workers. If the baby boy is the CEOs first child, female employees' salaries go up 0.8%.

I personally witnessed this in some of the New York based firms whenever the CEO or one of the executives have their first child they are more compassionate towards their female employees.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

]]> CEOs pay depends on their baby gender. Monti,Papademos Dervis ,Turkey have heard this song before.. http://seekingalpha.com/instablog/925298-efe-s-corner/236268-monti-papademos-dervis-turkey-have-heard-this-song-before?source=feed 236268

If you ask me what are some similarities between Italian Monti and Greek PM Papademos. I would say both are technocrats. However if Iask you the similarity between Monti, Papademos and Dervis that might be hard. So who are these gentlemen what makes them special?

Lucas Papademos, a former banker , a veteran technocrat, once a senior economist at the Federal Reserve of Boston .He is well known to his students from his Columbia University years, where he taught economics.

Kemal Dervis , a respected Turkish Economist who has studied in Princeton , VP of the World Bank between 1977-2001 and minister of economic affairs from 2001 to 2002.

Mario Monti, a respected economics professor, his experience of EU politics made him the favoured candidate to clear the way for Italy's economic crisis. Monti, 68,  austere and serious figure, to the  people he is the "Super Mario". A neo-liberal economist, is the ultimate technocrat, calm, elegant, sometimes dull. He was also the president of Milan's prestigious Bocconi University, he spent 10 years at the European Commission. He is a founding member of the think-tank Spinelli Group which works towards a more deeply integrated Europe.

Mr.Monti the "Super Mario" spent a lot of time walking in the halls of the European Commission. This name wasn't given to him in a day, he made this reputation by stopping such corporate giants as Jack Welch and Bill Gates in their competitive tracks. After a three consecutive Berlusconi hegemony. He is the new appointed PM of Italy. 

But wait a minute this reminds of a song we have heard before. A decade earlier Turkey was experiencing high interest rates, skyrocketing cross currency and huge unemployment when a 'savior' out of the blue was imported from a similar background .When Kemal  Dervis was still a VP in World bank,Turkey was facing one of the worst financial crisis in its 80 year history. Although this is a country which hasn't been short of economic crisis every other 5 years since the late 80's, this time it was different. It all started when Ahmet N. Sezer(then-president of Turkey) threw a  constitution booklet to Bulent Ecevit(then-PM) which started one of the worst economic crisis of the modern Turkish History, also famed as the "Black Wednesday". I clearly remember skyrocketing overnight interest rates which rose 7,500 percent, the highest value in the history of the republic, and the stock exchange closed the day with 2000 points drop in one day. The Turkish currency Lira doubled against the dollar.

For your information Dervis Fairy Tale didn't end very well. The Ecevit government who brought Dervis into power lost an election, lost bad. However ,Kemal Dervis era economic policies pave the way for what is known as the new rising power in the region,that is Turkey. For your info, an economy  outstripped China to record the fastest growth of any top G-20 economy in 2011, propelled by record low interest rates and booming internal economy.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
]]> Mon, 14 Nov 2011 16:40:24 -0500

If you ask me what are some similarities between Italian Monti and Greek PM Papademos. I would say both are technocrats. However if Iask you the similarity between Monti, Papademos and Dervis that might be hard. So who are these gentlemen what makes them special?

Lucas Papademos, a former banker , a veteran technocrat, once a senior economist at the Federal Reserve of Boston .He is well known to his students from his Columbia University years, where he taught economics.

Kemal Dervis , a respected Turkish Economist who has studied in Princeton , VP of the World Bank between 1977-2001 and minister of economic affairs from 2001 to 2002.

Mario Monti, a respected economics professor, his experience of EU politics made him the favoured candidate to clear the way for Italy's economic crisis. Monti, 68,  austere and serious figure, to the  people he is the "Super Mario". A neo-liberal economist, is the ultimate technocrat, calm, elegant, sometimes dull. He was also the president of Milan's prestigious Bocconi University, he spent 10 years at the European Commission. He is a founding member of the think-tank Spinelli Group which works towards a more deeply integrated Europe.

Mr.Monti the "Super Mario" spent a lot of time walking in the halls of the European Commission. This name wasn't given to him in a day, he made this reputation by stopping such corporate giants as Jack Welch and Bill Gates in their competitive tracks. After a three consecutive Berlusconi hegemony. He is the new appointed PM of Italy. 

But wait a minute this reminds of a song we have heard before. A decade earlier Turkey was experiencing high interest rates, skyrocketing cross currency and huge unemployment when a 'savior' out of the blue was imported from a similar background .When Kemal  Dervis was still a VP in World bank,Turkey was facing one of the worst financial crisis in its 80 year history. Although this is a country which hasn't been short of economic crisis every other 5 years since the late 80's, this time it was different. It all started when Ahmet N. Sezer(then-president of Turkey) threw a  constitution booklet to Bulent Ecevit(then-PM) which started one of the worst economic crisis of the modern Turkish History, also famed as the "Black Wednesday". I clearly remember skyrocketing overnight interest rates which rose 7,500 percent, the highest value in the history of the republic, and the stock exchange closed the day with 2000 points drop in one day. The Turkish currency Lira doubled against the dollar.

For your information Dervis Fairy Tale didn't end very well. The Ecevit government who brought Dervis into power lost an election, lost bad. However ,Kemal Dervis era economic policies pave the way for what is known as the new rising power in the region,that is Turkey. For your info, an economy  outstripped China to record the fastest growth of any top G-20 economy in 2011, propelled by record low interest rates and booming internal economy.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
]]> Upcoming IPOs and why Zynga might sing the blues? http://seekingalpha.com/instablog/925298-efe-s-corner/204187-upcoming-ipos-and-why-zynga-might-sing-the-blues?source=feed 204187

Many investors are amazed by the new generation of companies that are going public. LinkedIn, Bankrate, Dunkin shares raised more money than their expectations. The big names such as Groupon, Twitter and of course Facebook are seducing investors from all walks of life. However, there are the others who think that the second dot-com bubble is around the corner that might be similar to the 2000's .

Let’s look at some of these IPO’s which are making the headlines these days.

BANKRATE (RATE) Contrary to the common belief this is not a pure dot-com company. It was founded 35 years ago. Bankrate was founded as a printed financial and market data research business. The company began to move online in 1996. Most of Bankrate's revenues come from display advertising, performance-based advertising and lead generation. The financial statement for the first quarter showed that the revenues nearly tripled to $99.1 million with a net income change to $5.1million. The company had a net loss of $5.2 million just  a year ago. One might easily find certain drawbacks to this business model such as heavily dependence on search engines to direct visitors. Another big threat around the corner is that the search engines such as  Google, MSN which have already came up with a similar service where comparisons of mortgage, credit card and deposit interest rates are available on their websites.

PANDORA (P) radio is a great venture. However, many analyst pronounce this company as a misplaced IPO. The very reason for this is the “competitive environment” that Pandora is operating. Competitors such as Sirius XM and CBS's Last.fm (which I am a fan) are seriously backed companies. Additional to that, Google and Microsoft are speculated to come out with their own online version of radios. As of today Pandora has 36 million active monthly users. The company has a market cap of over $2.8 billion. Total revenues in January 2011 rose to $137.8 million from $55.2 million a year ago. In its outlook for 2011 the company projects a revenue increase of 30% with a bullish outlook.

NIELSEN (NLSN) is an audience measurement and global information company which serves  television and other media measurement, online intelligence, mobile measurement, trade shows and related properties.

As of today, Nielsen has a presence in approximately 100 countries. In the first quarter of 2011 Nielsen recorded a net loss of $181 million compared to a $43 million of net income in the first quarter of 2010. EPS for the most recent quarter was -$0.55. The earnings for the trailing 12 months was $348 million in cash with a net loss of $94 million. Despite all the facts company was able to raise $1.6 billion from the offering. Proceeds from the initial public offering were used to pay-off companies $1.75 billion debt. The company is on the track to innovate itself by entering into  a strategic alliance with MyWebGrocer to measure U.S. online supermarket sales.

ZYNGA (ZYNG) The online game platform company has wide recognition by Facebook users. One might ask what does Zynga do? Well, if you are one of the 232 million active  players of online games such as  FarmVille, CityVille or Zynga Poker than you should also know that Zynga is the company behind them. In its recent IPO, Zynga plans to raise as much as $1 billion in capital but it is also speculated by major news networks that the offering could raise as much as $2 billion. However with all the brag about Zynga  there are some major downsides to this business model such as: 
1) Over-dependence to third-party companies.
2) Their game traffic is hosted by a single vendor, it is the Amazon.com.
3) Zynga's IPO S-1 filing states that their business heavily depends on Facebook. That's another big threat because their dependance is on a limited number of players for nearly all their  revenue. Zynga is expected to turnover 10% of Facebook’s revenue or roughly $400 million in 2011. These numbers are based on the estimation of Facebook's expected revenue of $4 billion in 2011. So what is the risk? Simple, if companies like Facebook decides to launch its own gaming platform, Zynga might sing the blues. Lately, Zynga is seriously considering to expand its services into the Chinese market with an online-chinese version of Cityville. 

DUNKIN DONUTS (DNKN) offered its shares to public with a new record.The stock was up 47% just! on its first day of trading. The dominance of the company's product in the Northeastern U.S. is huge. Dunkin Chain has a 52% market share of all breakfast visits and a 57% market share of all the coffee served up by quick service restaurants. Approximately 60% of the company's sales in 2010 were coming from hot&cold beverages. In 2010, Dunkin brands earned a revenue of $577 million with a growth of %7.3 year over year. In its recent IPO, Dunkin(DNKN) shares were offered at $19 more than the expected price of $16 to $18 a share. The company sold $422 million worth of stock in its market debut. This put Dunkin Brands a price tag of $3 billion. Even with all the positive numbers out there there seems to be a number of reasons to be a little cautious on this one. The main reason for this is the huge debt load that the company has. The holding companies Bain Capital, The Carlyle Group and Thomas H.Lee Partners paid $2.4 billion to buy the Dunkin Brand in 2006 mostly through borrowed cash which ended up being Dunkin’s debt. A spectacular stock performance is mostly associated with relative earnings growth. That’s what exactly Dunkin should be working on more than anything else. Increasing earnings...

Starting from 2007 IPO's saw the steepest declines. However, 2010 was a strong year where the economy rebounded and foreign companies came back with their new offerings. A slew of new IPO offerings such as Groupon , Facebook , Twitter will show investors if their investment is worth all the fuss or if we are ready to see another episode of  “Where are they now” in the upcoming years.

 

 

 

 

 

 

 

]]> Wed, 10 Aug 2011 18:19:26 -0400

Many investors are amazed by the new generation of companies that are going public. LinkedIn, Bankrate, Dunkin shares raised more money than their expectations. The big names such as Groupon, Twitter and of course Facebook are seducing investors from all walks of life. However, there are the others who think that the second dot-com bubble is around the corner that might be similar to the 2000's .

Let’s look at some of these IPO’s which are making the headlines these days.

BANKRATE (RATE) Contrary to the common belief this is not a pure dot-com company. It was founded 35 years ago. Bankrate was founded as a printed financial and market data research business. The company began to move online in 1996. Most of Bankrate's revenues come from display advertising, performance-based advertising and lead generation. The financial statement for the first quarter showed that the revenues nearly tripled to $99.1 million with a net income change to $5.1million. The company had a net loss of $5.2 million just  a year ago. One might easily find certain drawbacks to this business model such as heavily dependence on search engines to direct visitors. Another big threat around the corner is that the search engines such as  Google, MSN which have already came up with a similar service where comparisons of mortgage, credit card and deposit interest rates are available on their websites.

PANDORA (P) radio is a great venture. However, many analyst pronounce this company as a misplaced IPO. The very reason for this is the “competitive environment” that Pandora is operating. Competitors such as Sirius XM and CBS's Last.fm (which I am a fan) are seriously backed companies. Additional to that, Google and Microsoft are speculated to come out with their own online version of radios. As of today Pandora has 36 million active monthly users. The company has a market cap of over $2.8 billion. Total revenues in January 2011 rose to $137.8 million from $55.2 million a year ago. In its outlook for 2011 the company projects a revenue increase of 30% with a bullish outlook.

NIELSEN (NLSN) is an audience measurement and global information company which serves  television and other media measurement, online intelligence, mobile measurement, trade shows and related properties.

As of today, Nielsen has a presence in approximately 100 countries. In the first quarter of 2011 Nielsen recorded a net loss of $181 million compared to a $43 million of net income in the first quarter of 2010. EPS for the most recent quarter was -$0.55. The earnings for the trailing 12 months was $348 million in cash with a net loss of $94 million. Despite all the facts company was able to raise $1.6 billion from the offering. Proceeds from the initial public offering were used to pay-off companies $1.75 billion debt. The company is on the track to innovate itself by entering into  a strategic alliance with MyWebGrocer to measure U.S. online supermarket sales.

ZYNGA (ZYNG) The online game platform company has wide recognition by Facebook users. One might ask what does Zynga do? Well, if you are one of the 232 million active  players of online games such as  FarmVille, CityVille or Zynga Poker than you should also know that Zynga is the company behind them. In its recent IPO, Zynga plans to raise as much as $1 billion in capital but it is also speculated by major news networks that the offering could raise as much as $2 billion. However with all the brag about Zynga  there are some major downsides to this business model such as: 
1) Over-dependence to third-party companies.
2) Their game traffic is hosted by a single vendor, it is the Amazon.com.
3) Zynga's IPO S-1 filing states that their business heavily depends on Facebook. That's another big threat because their dependance is on a limited number of players for nearly all their  revenue. Zynga is expected to turnover 10% of Facebook’s revenue or roughly $400 million in 2011. These numbers are based on the estimation of Facebook's expected revenue of $4 billion in 2011. So what is the risk? Simple, if companies like Facebook decides to launch its own gaming platform, Zynga might sing the blues. Lately, Zynga is seriously considering to expand its services into the Chinese market with an online-chinese version of Cityville. 

DUNKIN DONUTS (DNKN) offered its shares to public with a new record.The stock was up 47% just! on its first day of trading. The dominance of the company's product in the Northeastern U.S. is huge. Dunkin Chain has a 52% market share of all breakfast visits and a 57% market share of all the coffee served up by quick service restaurants. Approximately 60% of the company's sales in 2010 were coming from hot&cold beverages. In 2010, Dunkin brands earned a revenue of $577 million with a growth of %7.3 year over year. In its recent IPO, Dunkin(DNKN) shares were offered at $19 more than the expected price of $16 to $18 a share. The company sold $422 million worth of stock in its market debut. This put Dunkin Brands a price tag of $3 billion. Even with all the positive numbers out there there seems to be a number of reasons to be a little cautious on this one. The main reason for this is the huge debt load that the company has. The holding companies Bain Capital, The Carlyle Group and Thomas H.Lee Partners paid $2.4 billion to buy the Dunkin Brand in 2006 mostly through borrowed cash which ended up being Dunkin’s debt. A spectacular stock performance is mostly associated with relative earnings growth. That’s what exactly Dunkin should be working on more than anything else. Increasing earnings...

Starting from 2007 IPO's saw the steepest declines. However, 2010 was a strong year where the economy rebounded and foreign companies came back with their new offerings. A slew of new IPO offerings such as Groupon , Facebook , Twitter will show investors if their investment is worth all the fuss or if we are ready to see another episode of  “Where are they now” in the upcoming years.

 

 

 

 

 

 

 

]]> dnkn znga rate nlsn p goog Dunkin IPO's ZYNGA PANDORA SIRIUS XM Where is EURO headed? http://seekingalpha.com/instablog/925298-efe-s-corner/192443-where-is-euro-headed?source=feed 192443 European authorities approved a 12 billion Euro rescue package for Greece.

Tough austerity measures for  Greece is under way .

This leds to  a higher EURO ,which leds the EUR/USD move to a  level of 1.45 which is the highest in the last 6 months.

Former chairman of the FED,Greenspan warned that the chance of Greece not defaulting is almost impossible.This has indirect effect on the decline of U.S. Dollar index .

Greek rescue plan and ECB rate hikes continues to pressure an upward move on the EURO.

]]> Mon, 04 Jul 2011 01:06:58 -0400 European authorities approved a 12 billion Euro rescue package for Greece.

Tough austerity measures for  Greece is under way .

This leds to  a higher EURO ,which leds the EUR/USD move to a  level of 1.45 which is the highest in the last 6 months.

Former chairman of the FED,Greenspan warned that the chance of Greece not defaulting is almost impossible.This has indirect effect on the decline of U.S. Dollar index .

Greek rescue plan and ECB rate hikes continues to pressure an upward move on the EURO.

]]>