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Former Apple UI designer joins Facebook to lead product design team

It remains to be seen exactly what he'll be involved with, but Facebook's new Product Design Manager brings quite a background with him to the job. Until just a few months ago, Chris Weeldreyer was a UI Design Manager at Apple (a role held for over eight years) where, as The Next Web reports, he was responsible for the company's iWeb and Numbers software, and has been named in a number of Apple's patent applications. Before that, he worked in both hardware and software product development, having held positions at Frog Design, Pentagram and Cooper. No word from either company on the move, but Weeldreyer himself made the move official on his LinkedIn page -- and, of course, his Facebook profile.

Former Apple UI designer joins Facebook to lead product design team originally appeared on Engadget on Fri, 22 Jun 2012 16:58:00 EDT. Please see our terms for use of feeds.

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How Exactly Does Paid Advertising Aid For Setting Up Site Traffic ...

Advertising has been a business buy site traffic technique for a long some time and we might are not prepared to determine the exact time advertising located existence and was basically accustomed to promote a product or service or a service to ensure people to find out that a real services or products exists and educate them concurrently how a said product or service will probably be beneficial to them. As time passes, advertising has changed into a how it?s today, very sophisticated and it has been delivered in countless ways ? via actual humans having billboards walking down the streets, actual massive billboards covering our skyline, interactive ads online topromptly consult your queries and at one time get the answers live, to funny and incredibly interesting buy website traffic ads on different media like print and so on the tv.

Nevertheless our topic these days hones in on only one element of advertising and that?s online advertising and specifically pay per click advertising. In recent times, advertising on the net has surpassed other designs of traditional advertising with regards to expenditures and it offers to increase more for the future that is certainly the reason why more and more international companies are diverting almost all of their advertising budget to web marketing because of the massive audience it?s got along with the exposure web marketing provides.

Pay-per-click advertising fundamentally is when an advertiser bids on specific keywords, words which you think are what customers will likely use to find what they really want regarding the the merchandise and repair you might be promoting and you may even make a commercial solely based on keywords. Receiving the correct keywords and coupling it with interesting and eye-catching online advertisements will truly compel most your list to select your buy targeted traffic link and continue to know more about what you need to sell or promote.

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1. Boosting Site Traffic By Way Of Entertaining Selling
2. Impressive Internet Site Online Video Generation Improves Site Traffic
3. Fun Internet Site Design For Site Traffic Good Results
4. Leading Secrets For Getting Visitors Or Traffic To Your Site
5. Creating Site Traffic Having An Outstanding Graphic Design

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Family feuds over the remains of Carroll Shelby

Jeff Haynes / AFP/Getty Images file

Could Carroll Shelby have created the latest round of mischief that is keeping him from finding final rest?

By Paul A. Eisenstein, The Detroit Bureau

Carroll Shelby was never one to shy away from a good ol? Texas brawl, but few expected controversy to follow him to the grave.

Yet, more than a month after his death and weeks after a West Coast memorial service that brought celebrities like Jay Leno and scores of Shelby owners out for a celebration of his life?s work, the legendary racer and raconteur?s remains are still being held in a Dallas morgue.

The problem is a family feud pitting his sixth and last wife Cleo Shelby against his three children.? Each side claims to hold documents allowing them to dispose of Carroll Shelby?s body.

The one-time chicken farmer and Navy flight instructor became a force to be reckoned with, both on and off the track, after leaving military service in World War II.? By 1959 he had won the grueling 24 Hours of Le Mans endurance race but his career behind the wheel was cut short when an old heart ailment that had left him bedridden as a child returned.?

First Look: Aston Martin 310 Vanquish

Shelby ran his last few races with a nitroglycerine tablet under his tongue. Then, at 37, rather than abandon the world of motorsports, he started teaching performance driving and launched his own specialty car company.? A half-century later, even a Shelby Cobra needing some work might fetch a million dollars or more at auction.

Shelby later formed a long-running alliance with automotive executive Lee Iacocca, first at Ford, where the tall Texan lent his expertise and name to high-performance versions of the Mustang, then following Iacocca to Chrysler.? In recent years, Shelby returned to Ford, again planting his name on the maker?s most powerful Mustang ever, the Shelby GT500, while also running his own tuner car company near Las Vegas.

But Shelby was never far from controversy in his business dealings, especially when he claimed to have found ?incomplete? chasses for dozens of the ?60s-era Cobras and started selling ?completed? models soon after.? It soon turned out they were being built from scratch and were relabeled ?continuation? Cobras.?

GM Converts 100th Facility to Landfill-Free Status

?Carroll always gave me a big hug whenever he?d see me, but I?d always check for my wallet after? recalls one Detroit executive with a twinkle, asking not to be identified by name impugning the deceased.

Could Carroll Shelby have created the latest round of mischief that is keeping him from finding final rest?? While widow Cleo Shelby insists she was given the power of attorney by her late husband two years ago, the three Shelby children insist they have signed papers directing them to have their father?s body cremated.? It supposedly calls for Carroll Shelby?s ashes to be divided up among sons Patrick and Michael, daughter Sharon, and a burial plot in East Texas.

?There?s just a lack of closure in a situation where he did have a nice, long life,? Patrick Shelby told The Associated Press. ?He?s got relatives down in East Texas, and we?re just not able to get this chapter closed. And I?m not really sure what the reasoning is.??

Ford Hit by British Strike

For her part, Shelby?s widow calls the cremation document a forgery and hints at what could become an even more bitter, drawn-out battle, insisting that in his final months of life, one of Shelby?s sons ?arranged to exclude? her from being at her husband?s side as much as possible.

The two sides have taken their dispute to a Dallas County court, temporarily leaving Shelby?s body under the control of the medical examiner?s office because some of the claims made in the dispute potentially falls within Texas criminal law.

Attorneys for the two sides aren?t discussing where things stand and, for the moment, there?s been no hearing scheduled. ?

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Syrian army shells Homs as Red Cross awaits green light

[ [ [['Connery is an experienced stuntman', 2]], 'http://yhoo.it/KeQd0p', '[Slideshow: See photos taken on the way down]', ' ', '630', ' ', ' ', ], [ [['Connery is an experienced stuntman', 7]], ' http://yhoo.it/KpUoHO', '[Slideshow: Death-defying daredevils]', ' ', '630', ' ', ' ', ], [ [['know that we have confidence in', 3]], 'http://yhoo.it/LqYjAX ', '[Related: The Secret Service guide to Cartagena]', ' ', '630', ' ', ' ', ], [ [['We picked up this other dog and', 5]], 'http://yhoo.it/JUSxvi', '[Related: 8 common dog fears, how to calm them]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 5]], 'http://bit.ly/JnoJYN', '[Related: Did WH share raid details with filmmakers?]', ' ', '630', ' ', ' ', ], [ [['accused of running a fake hepatitis B', 3]], 'http://bit.ly/KoKiqJ', '[Factbox: AQAP, al-Qaeda in Yemen]', ' ', '630', ' ', ' ', ], [ [['have my contacts on or glasses', 3]], 'http://abcn.ws/KTE5AZ', '[Related: Should the murder charge be dropped?]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 5]], 'http://yhoo.it/JD7nlD', '[Related: Bristol Palin reality show debuts June 19]', ' ', '630', ' ', ' ', ], [ [['have made this nation great as Sarah Palin', 1]], 'http://bit.ly/JRPFRO', '[Related: McCain adviser who vetted Palin weighs in on VP race]', ' ', '630', ' ', ' ', ], [ [['A JetBlue flight from New York to Las Vegas', 3]], 'http://yhoo.it/GV9zpj', '[Related: View photos of the JetBlue plane in Amarillo]', ' ', '630', ' ', ' ', ], [ [['the 28-year-old neighborhood watchman who shot and killed', 15]], 'http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120411/martinzimmermen.jpg', '630', ' ', 'AP', ], [ [['He was in shock and still strapped to his seat', 6]], 'http://news.yahoo.com/photos/navy-jet-crashes-in-virginia-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120406/jet_ap.jpg', '630', ' ', 'AP', ], [ [['xxxxxxxxxxxx', 11]], 'http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg', '500', ' ', 'AP', ] ]

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Important Events At Emmis Communications - Seeking Alpha

Below is a reader-submitted investment idea for Emmis Communications (NASDAQ: EMMS), drawing attention to important events that have occurred subsequent to the end of the most recent financial statements.

Overview

On an LTM basis, Emmis Communications Corp. appears to be an overvalued, overlevered company. However, after the quarter ended, the company closed (or is in the process of closing) several transactions that are significantly accretive and massively deleveraging. Pro forma for these transactions (and an unannounced but inevitable refinancing of debt, including 12.25% and 23.0% debt), EMMS is trading at only 5.9x equity cap/LTM free cash flow. The valuation drops to 4.8x equity cap/free cash flow if EMMS wins a lawsuit regarding its outstanding preferred stock. This is a complicated (and somewhat illiquid) situation that for a variety of reasons has not appeared on many investors' radar screens. However, insiders believe the stock is undervalued and instituted a 10b5 plan to buy up to 1 million shares at prices up to $2.00 per share (up 33% from current levels). In an unusual situation, the 10b5 was abruptly terminated after only two days due to an error by the broker, and could not be reinstated due to blackout issues. We believe that had this termination not occurred, EMMS' stock price would be significantly higher today.

Emms operates the 8th largest publicly traded radio portfolio in the United States based on total listeners. Emmis owns 18 FM and two AM radio stations in New York, Los Angeles, St. Louis, Austin, Indianapolis and Terre Haute, IN.

DEBT AS OF LATEST 10-Q

As of February 29, 2012, the company had the following debt ($mm):

OPCO:

• Revolver $6.0

• Term @ L+4: $87.9

• Term @ 12.25%: $110.0

• Total OPCO debt: $203.8

Holdco:

• Notes @ 23.0%: $33.9

• Consolidated:

• Total Debt $237.7

For the LTM ended February 29, 2012, EMMS generated reported EBITDA of $26.3 mm (or $23.4mm as per Bloomberg and Yahoo), which implies a Debt to EBITDA of 9.0x. However, this reported EBITDA figure includes certain non-recurring items and, as illustrated by the company's analysis (click here under Quarter 4 click Non-GAAP Leverage Disclosure, 2.29.12 ), a more appropriate LTM EBITDA is $30.8 mm, which implies a still high leverage ratio of 7.7x. However, this ratio comes down significantly when the below asset sales are considered.

ASSET SALES

After the quarter ended, EMMS closed or will soon close three transactions that combined should generate $169 million of after tax and fees proceeds that will be used to repay debt.

1. ESPN transaction which has already closed and generated $75 million of cash proceeds.

2. KISS transaction which should generate $10 million of cash proceeds when it closes this summer.

3. Grupo Radio Centro Put/call which should generate $84 million of cash proceeds when it closes this summer.

For more details on these sales, see the earnings call transcript and SEC filings.

REFINANCING OPPORTUNITY

After closing the above asset sales, the company will be much less levered, so the company can refi its debt at significantly lower rates. All of the company's debt is prepayable with the following caveats. The 12.25% debt is subject to a 6% prepayment fee and due to a make whole provision, its not economically feasible to repay the 23% debt until next May, although we imagine the company could negotiate a prepayment.

A refinancing post-closing of all the asset sales might look like the following:

Sources:

Uses:

Note: on May 30 the company refinanced over $70 million of its debt with a new 4.1% facility, but this isn't reflected in our analysis.

VALUATION

Pro forma this refinancing, EMMS would have Debt/EBITDA of 3.7x (down significantly from the current levels). Importantly, the company has large NOLs, so it pays no cash taxes and thus delevers more quickly than the debt/ebitda ratio may suggest.

We are assuming the new debt can be obtained at 6.5%.

So, pro forma the refinancing the company will have LTM free cash flow of:

• 23.8 - Adjusted EBITDA (as per May 10 eps call)

• (5.7) -6.5% interest on new debt

• (0.0) -Cash taxes (~100mm NOL)

• (5.4) - Capex

• (2.9) - Preferred dividends

• 9.7 Free cash flow

• Stock Price $1.50

• Shares outstanding 38.2

• Equity cap 57.3

• Equity Cap/Free cash flow 5.9x. But it may be even cheaper than that.

PREFERRED STOCK

On its balance sheet, EMMS has 6.5% preferred stock with a liquidation value of $47 million. In a complicated and controversial transaction, the company repurchased (for ~ $17 per preferred share compared to its $50 per share liquidation value) significant amounts of preferred and is now attempting to strip the remaining preferred stock of its dividends and essentially force each preferred to convert into 2.4 shares of common. There is currently a lawsuit regarding this matter and the next court date is later this summer. We believe EMMS has a good chance of prevailing. However, in order to be conservative, our analysis assumes EMMS loses this issue. Yet if EMMS wins, and the preferred convert into 2.3 million common shares and there will be no more dividend payments, the pro forma equity cap would be increase to $60.7 million, pro forma free cash flow would be $12.7 mm (9.7+2.9) and the equity cap/fcf multiple would be 4.8x. The preferred are publicly listed (EMMSP) and last traded at $15 (much less than the $50 liquidation value), but on very light volume.

INSIDER BUYING / 10B5-1

When the window was briefly open after the last earnings release, insiders bought stock. Perhaps most interesting was the activity by Herb Simon (of Simon Property Group (SPG)). After some earlier purchases at lower prices, on May 16, he bought 98k shares at $1.50. The following day he formed a "partnership" with EMMS' Chairman/CEO and that entity entered into a 10b5-1 plan that would enable it to buy up to 1.0 million shares at no more than $2.00 per share. On May 17, the partnership bought 98k shares at $1.48 and on May 22nd it bought 106k shares at $1.70 (15% above current price). On May 23, the 10b5 plan was terminated because the broker apparently screwed up by not buying any shares. We believe that since the company was in a blackout period, the 10b5 plan could not be reinitiated. However, the company reports earnings in mid-July at which time the insider buying window would reopen and the 10b5 could be restarted. We believe the $2.00 limit and $1.70 last purchase price give a good sense for what insiders think EMMS is worth. We also believe that had the 10b5 plan not been terminated, EMMS' stock price would currently be significantly higher not only because of buying by the plan, but also because the frequent insider buying filings would put this (complicated) idea on more investors' radar screen.

Since the 10b5 plan situation is unusual, below is the announcement from the original 13d.

HSJS, LLC has entered into a Rule 10b5-1 Purchase Plan with Stifel, Nicolaus & Company, Incorporated ("Stifel") which provides for the purchase of up to 1,000,000 shares of Class A Common Stock, including shares of Class A Common Stock purchased on or after May 17, 2012 by HSJS, LLC. Under the plan, Stifel is not permitted to purchase any shares of Class A Common Stock at a price greater than $2.00 per share. The plan can be terminated at any time subject to the Issuer's insider trading policy and pre-clearance by the Issuer.

Below is the disclosure in a later 13d announcing the termination of the plan.

Although the Rule 10b5-1 Purchase Plan entered into by HSJS, LLC provided for daily purchases of the Issuer's Class A Common Stock, subject to certain conditions and limitations, the broker implementing the Purchase Plan failed to purchase any Class A Common Stock on May 23, 2012. The decision not to purchase shares was made without the approval or knowledge of the Reporting Persons. Because the Purchase Plan had been deviated from, HSJS, LLC terminated the Purchase Plan on May 24, 2012.

OTHER

1. This idea has several moving parts so we suggest you read the transcript of the last earning call and view SEC filings and the financial information on the Investors section of the website.

2. While the company does not give guidance, comments from the earning call seem to indicate that this quarter (which will be announced in July) is doing well.

3. Reported results are very deceiving because they do not reflect the asset sales mentioned above. As discussed in the earning call, pro forma these transactions, the business is doing much better than the "reported" results may indicate.

4. Management essentially controls the company thru a dual class of stock and in the past has attempted to take it private. On the last earnings call they indicated they will not try to take it private again.

Disclosure: No position

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Connected Nation Faces Heat in Florida - When You're Fired, Just Buy Yourself a New Boss?

Connected Nation Faces Heat in Florida When You're Fired, Just Buy Yourself a New Boss? We've talked for years about how Connected Nation, supposedly designed as as a broadband mapping firm that helps improve broadband coverage, has been criticized as really just a lobbying extension of the major phone companies, tasked with funneling subsidies toward incumbent companies and away from their competitors (or municipal government operations). The group is now facing heated criticism in Florida for using lobbying muscle and cash to crush any other firms that might have done a better job mapping broadband in the State. The telling paragraph from the report: After repeated performance problems, DMS officials decided last year that they would not renew the broadband contract with Connected Nation when it expired in December and would seek new bids. Meanwhile, Connected Nation sent its lobbying team to get the governor?s office to order DMS to halt the contract process until the program could be moved to another agency. The company then persuaded the Legislature to transfer the program to the new Department of Economic Opportunity, and the governor signed the bill authorizing the move. Actually having the lobbying muscle to change the law and shake up government organization is the kind of power that comes from being friends with hugely politically powerful incumbent phone companies. Connected Nation saw similar criticism in Minnesota when the organization lobbied and bullied their way to broadband mapping grants -- ensuring no public input on the process. The criticism has been Connected Nation wins these grants, then provides rosy maps that suggest better competition and coverage than there actually is -- then steering any broadband money that does come in toward protected duopoly interests and away from any company or organization that could shake the uncompetitive boat.

Reviews: ?Atlantic Broadband Re: More Wasted Money I'm with you on it being wasted money, but why is it that the media in this country helps to promote every myth about everyday people wasting money on "welfare" when the real atrocities are occurring under corporate welfare, just like this? Corporations are America's biggest welfare recipients, which is why I laugh at the notion of any idea that we're under in a free market. Companies' gave up innovating years ago to ask Uncle Sam for a check. Re: More Wasted Money I definitely agree with regards to corporate welfare. I say just establish a uniform taxing/regulation policy for all companies and let the chips fall where they may. But as for broadband mapping, can anyone explain why the government should care about it? ISPs already (and yes, I have *the list* ready should anyone dispute this) make their availability information readily available to the public. Some ISPs (Verizon FIOS in Maryland comes to mind) even make their deployment information public. Given how this information is already widely and freely available, perhaps the government should stop wasting scarce money on these silly mapping projects and instead focus on more pressing concerns. -- Romney 2012 - Put an adult in charge. Reviews: ?Atlantic Broadband Re: More Wasted Money I actually would say I agree. I think that forcing FCC compliance with companies showing where their lines actually run would be sufficient for this purpose. I think the money instead of spent on broadband mapping would make more sense as grants to help underserved areas receive FTTH services. I know there was some of this money being spent, Hardy County, WV's Hardy Communications received a grant, and they're laying FTTH in the rural part of the Eastern Panhandle as we speak. Mapping broadband availability doesn't help make it more available. And the moment the map is released, the data changes. What does make it more available is putting that money into laying fiber in the areas that simply don't have it, and won't with purely private investment. Re: More Wasted Money said by osravens: IMapping broadband availability doesn't help make it more available. And the moment the map is released, the data changes. Never considered that point... that's definitely another major reason these government-published broadband maps should be scrapped. -- Romney 2012 - Put an adult in charge. I can see why the state took away the oversight of the $6.3 million fed grant from DMS. It wasn't Connected Nation that caused this. It was DMS wasting the money. DMS said the grant requires it to use some of the money to pay for three more years of broadband mapping and the rest to expand broadband access in libraries and schools. DMS hired eight contract employees to handle administration and provide services, paying them between $72,000 and $140,000 a year until the grant ends in 2014, and defended it as an efficient use of state funds. So DMS planned over 4 yrs of the contract to use approx $3.2 million of the $6.3 million for oversight & mgt. I wonder whose relatives of DMS govt employees were going to fill those 8 positions? Connected Nation may have used some muscle to get DMS stripped of the contract, but the state legislature and budget makers had already had it with DMS and their incompetence and were already inclined to strip them of power. the other side of the coin... I take issue with groups that have it out against CN. I don't work there, I don't represent them, but I do work in the industry. What I see are groups of people, businesses, and individuals who do not take the time to help the mapping process, and then turn around and complain when they don't get funding. The line "supposedly designed as as a broadband mapping firm" is Ludicrous. They offer some of the best coverage and detailed maps of our industry anywhere to be found. Show me another group that has the resources in the field, the engineers in the offices, and the combination of the two that load maps into a portal like they do, allowing everyone quick and easy access to the maps. "just a lobbying extension of the major phone companies" is the worst thing I have heard about CN. To give you a view of how it works: The government appropriates money for broadband coverage. In order to determine where the coverage is and isn't, they give grants to mapping coordinators. These coordinators go out, on-site and find broadband providers. They check phone books, yard signs, flyers, newspaper ads, etc. When they find a provider, they approach them and basically present their case: "I am with a national broadband mapping program, do you have any coverage maps of your service you can supply so that we can include you in the map? If you are not on the map, the government doesn't know you exist, and because of that you can't get funding." And what do you think the ISPs do? Do they turn over maps? No. They are too scared of what "big brother" and their competitors will do with the information, so they opt out; they opt-out of the map, out of the money, and off the grid. And what follows? Complaints. "I didn't get any government money and my competitor did". Guess what, he supplied the maps. So, what did the ever-hated CN do? They started running around with spectrum analyzers and telco equipment and building coverage maps based on investigatory work. Why, so the incumbent carriers could know exactly where these little guys are? No, so that they could supply information that the providers weren't willing to give up. This idea that CN flipped politics to win a contract has nothing to do with what they do. It has to do with business. Please don't be so naive. If your company had the resources to win everything they could, they would do it to. It's not about the carriers or what someone is plotting against smaller ilecs/clecs/wisps etc. it's about winning contracts. /rant

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