Posts by Nicole Goodkind
Nicole Goodkind at Yahoo Finance 8 days ago
Gyms are less crowded, the Christmas lights have finally come down, and you’ve even gotten used to writing "2016." We are firmly in the new year. And for those of you who resolved to start your own business this year, you'd better get going.
And while starting a business is tough (80% of new businesses fail within their first 18 months), there are certain industries that are easier to break into than others.
Graham Winfrey of Inc. Magazine spoke to Yahoo Finance to identify up-and-coming sectors that potential entrepreneurs might want to explore.
This year will be the breakout year for virtual reality, says Graham. Consumers are expected to purchase millions of VR headsets as well as cheaper cardboard-based displays that work with smartphones. “The technology has finally caught up,” he says.
While VR will continue to expand into the world of news and entertainment, it will also break into new industries such as education, military, healthcare, engineering, and architecture.
Nicole Goodkind at Yahoo Finance 9 days ago
Just days after the second-largest snowstorm in New York City history, Kyle Hency and Tom Montgomery walked into the Yahoo offices wearing only shorts. Call it dedication—the pair are co-founders (along with Rainer Castillo and Preston Rutherford) of Chubbies, an online clothing retailer that specializes in men's shorts.
The pair announced that the company has raised $9 million in Series A funding—bringing total funding to over $14 million since 2011. They plan to use the money to increase inventory but also to double down on domestic manufacturing by opening their own factory.
Chubbies has hired editors from Thrillist Media Group and will utilize its millions of social media followers to launch a content engine and produce original video and articles.
“Content is the lifeblood of how we market and I do think that’s the future, because interruptive marketing is not what people like these days,” says Montgomery.
The company is currently expanding beyond shorts into men’s shirts and sweaters. They plan to make women's clothing in the near future.
It’s been a crazy week for the markets, and unfortunately we’re only at the halfway mark. On Monday, China halted trading of its major stock indices after a whopping 7% decline. On Tuesday, North Korea claimed to have successfully tested its first hydrogen bomb—and the markets did not respond well. On Wednesday, oil prices fell 5.5%, the lowest level in 11 years. At this rate, no one’s looking forward to the news that Thursday and Friday might bring.
But Ford Motor Company CEO Mark Fields isn’t sweating it. He thinks that gas prices will continue to fall this year, but he’s making sure Ford is prepared for when they inevitably rise again. “Our long-term view is that the price of a barrel of oil will go up and gas will go up, and that’s why we’re spending so much money on investing in fuel-efficient and electrified vehicles,” he tells Yahoo Finance. While he’s seen consumers gravitate towards crossover vehicles and SUVs, he believes that drivers have long memories and are still interested in purchasing fuel-efficient cars.
CBS’s reality show “Undercover Boss” puts CEOs in their employee’s shoes, and the results aren’t always pretty.
That’s what Sam Dushey, President and CEO of discount retailer Shoppers World found out while taping his episode of the show. “Employees don’t feel like they have an opinion or say in the company,” Dushey told Yahoo Finance.
Dushey also encountered large infrastructure, overstocking and shoplifting problems in his stores. During a moment of distress, Dushey tells the cameras that he’s “in total shock,” and that “it’s like every time I walk into a store I never know what I’m going to find.”
Shoppers World was a small, family-run business started by Dushey’s grandfather during the Great Depression. Dushey took the reigns from his father nine years ago and expanded the retailer to 40 stores with 1,900 employees and $250 million in annual sales. He plans to open another 20 stores next year.
Still, he recognizes that he needs to make some substantial changes in the way he runs his company. “I’m trying to lay down the foundation of a culture where every employee means something in the company and every employee’s voice needs to be heard.”
Martin Shkreli’s name is everywhere. You might have read about how he hiked up the price of an HIV-related drug and that he’s somehow related to the Wu-Tang Clan. Or maybe you saw pictures of the 32-year-old CEO in a grey hoodie getting arrested in New York this week.
We’ve broken down everything you need to know about the biotech exec so that when someone starts talking about Shkreli at your next holiday party, you won't be confused. Because nothing says “happy holidays” like “arrested for securities fraud.”
Shkreli was born in 1983 to Croatian and Albanian immigrants who worked as janitors. He grew up in Sheepshead Bay, a working-class neighborhood in Brooklyn and attended elite public schools, including Hunter College High School in Manhattan. He went on to attend Baruch College, a public New York City university with a well-known business program.
He showed a flair for finance early on
By the time the dust cleared from his FDA scandal, Shkreli had already moved and founded Retrophin, a biotech portfolio company.
Taylor Swift, Katy Perry or Elizabeth Holmes. Who would you date if you were me?
What about Wu-Tang?
All eyes are on the Fed today as Janet Yellen is expected to announce the first raise in interest rates since 2006. The housing market has been slowly recovering from its March 2012 bottom (according to the Case-Shiller Index), but it’s been largely aided by near-zero interest rates. Thirty-year fixed-rate mortgages remain below 4%, down from 6% in 2008.
So is the still-fragile housing market in for a shock today? It’s a mixed bag says, Barbara Corcoran, investor on ABC’s “Shark Tank” and founder of The Corcoran Group, a large real estate company based in New York. “The immediate reaction will be the same as it always is when interest rates are raised: It creates a psychological deadline for anyone who’s thinking about buying and sitting on the fence,” she says. “They get right off the fence and think it’s their last chance to get in there, so you’ll definitely see an uptick in sales nationwide.”
Watch the video above to see Barbara Corcoran’s 2016 investment tips and her analysis of Aflac’s Corporate Citizenship report.
Nicole Goodkind at Yahoo Finance 2 mths ago
You’ve probably heard the phrase “tech unicorn” before … It’s a buzzword that’s used to describe high-value companies like Uber and Snapchat. But what exactly does it mean and how does a company become a unicorn?
A unicorn is any private startup that’s valued at over $1 billion. Now that doesn’t mean that the company actually has $1 billion in cash, in fact, most have a whole lot less. What it does mean is that the company is exchanging equity for cash as if it were worth at least one billion, so a $10 million investment would buy you 1% of the company.
There are currently 142 start-ups that fit the bill, and together they’re worth about $506 billion. Of those 142 companies, there are 13 deca-unicorns, or companies valued at more than $10 billion. The term unicorn usually signifies a rarity, but we’re encountering a herd of these mythical creatures. When the term was coined in 2013, there were only 36 companies that qualified as unicorns. The number of tech unicorns has increased by nearly 400% in just two years. To some, this rapid increase signals that we’re in bubble territory.
Correction: a previous version of this article miscalculated 1% of $1 billion.
More from Yahoo Finance
Nicole Goodkind at Yahoo Finance 2 mths ago
Last year, 87 million Americans woke up the Friday after Thanksgiving, shook off their turkey-comas, and headed to the mall. Why? To get their hands on the door-buster deals retailers like Wal-Mart (WMT), Target (TGT) ,and Best Buy (BBY) offer on Black Friday, of course.
Black Friday has become a holiday of its own in the U.S., and we’re all familiar with the images of stampeding shoppers fighting to grab $125 big-screen TVs.
The day after Thanksgiving has long been the official start of the holiday shopping season for retailers. During the Great Depression, President Franklin Delano Roosevelt moved Thanksgiving a week earlier in order to allow for a longer shopping season—and a bigger boost to the economy.
Most people think that Black Friday got its name because it’s the day when retailers make a profit for the year and go from being in the red to in the black.
But of course, there’s also been a backlash. Since 2006, there have been seven deaths and 98 injuries caused by the chaos that Black Friday sales bring.
Nicole Goodkind at Yahoo Finance 3 mths ago
Macy’s (M) reported disappointing third-quarter earnings this morning and warned on full-year earnings. As a result, shares of the stock tumbled more than 12%. The retail sector (XRT) also dropped into the red on the news.
Macy’s CEO and chairman Terry Lundgren told investors that the giant retailer missed on earnings because of unseasonably warm weather in the Northeast and a slow-down in international tourists in his shops.
Other major department stores, including Kohl's (KSS) and J.C. Penney (JCP), also experienced a slump in share price. “The retail industry is going through a tough period,” Lundgren said during his earnings call. “We seem to experience something like this every five to seven years.”
A new report from BGC Financial showed that retail salaries and wages are growing at a faster pace than the private sector in total. Growing salaries present yet another headwind that brick-and-mortar stores face against the growing strength of e-commerce.
Nicole Goodkind at Yahoo Finance 3 mths ago
After 26 years of waiting, it’s finally Back to the Future day.
In “Back to the Future II” Marty McFly (played by Michael J Fox) travels 30 years into the future, from 1985 to October 21 st , 2015. There he discovers a world of hover boards, news drones and interesting fashion choices. While some of the film’s visions have come true (hands free video games, video glasses, mobile pay), other things have yet to happen (dehydrated foods, flying cars and banned lawyers). The outcomes of some predictions are still unclear—like the Chicago Cubs winning the World Series ( ed-let’s go Mets!) .
Nearly three decades after the release of "Back to the Future II," companies are still harnessing the power of the film. Many have released special-edition products to celebrate today—here are a few.
Ride in a DeLorean: If you’re in New York City today you’re in luck. Verizon (VZ) is teaming up with Lyft to offer free 15-minute DeLorean rides around the city. Lyft won’t disclose how many DeLoreans they have but we predict that you’ll need a lot of luck to nab one.
Enjoy and remember, where we’re going we don’t need roads!