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July 13, 2007

CEO: I Am Rubber, You Are Glue

John Mackey, the vegan pulling down $1 a year as head of $5.7 billion company Whole Foods, the organic/natural/crunchy/gourmet chain, is taking a lot of FTC anti-trust-flavored heat for posting anonymously -- for years -- on a Yahoo investing forum about his company's own stock. Besides routing for the home team under screen name Rahodeb (Mrs. Mackey, don't you feel flattered?), Mackey also talked a heck of a lot of smack about competitor Wild Oats, the Wall Street Journal reported yesterday in a front page story.

Courtesy Nicon Engineering

It gets a little more complicated: Whole Foods has found itself embroiled in an antitrust case for trying to merge with Wild Oats, that same company Mackey had described as "floundering" and a whole lot of other things in previous months online.

Oh, John. Couldn't you have just deployed a PR peon to sing your praises on the silly message board?

Despite the odd revelation yesterday, Whole Foods' stock picked up a little over 3.5 percent today on NASDAQ.

At first glance, this might look like a woefully regrettable mistake on Mackey's part. At minimum, it's certainly embarrassing, and at worst, it could help kill the deal with Wild Oats.

But on closer look, it's a very nuanced case, and the implications aren't clear. Mackey posted information and opinions about his and other businesses, but all of his posts were anonymous (though some on the boards suspected his identity).

It's certainly a faux pas, but does what Mackey did count as foul play, or was it merely "fun," as he describes it?

One ABC reporter thinks it smells like deception, and compared the Mackey gaffe with last year's controversy over the Wal-Mart fan blog that was exposed to have been funded by Wal-Mart's very own PR firm, Edelman. But is it really a fair comparison? When you put the Wal-Mart case next to Mackey's furtive forum posts, I think there's something a lot more sneaky to me about a big PR firm secretly backing what's made to look like a homegrown website.

The jury on the FTC case will be out for a while, which means we've got some time to render our own judgments. (Whatever happens, Mr. Mackey, I love those free fruit samples at my store in Chelsea - keep 'em coming.)

UPDATE: Mackey's sorry.

Posted by Elise Waxenberg at 4:51 PM | 2 Comments

March 19, 2007

Investing a New Way

Have you ever thought of putting your money where your principles lie? And not just to do good, but to earn a profit. Well Fast Company has some tools that you could use to make your investment strategies pay off -- for you and for the planet.

Visit our Sensible Investing package to learn about 21 companies that are driving profit while making human impact. Also learn about how we teamed up with two San Francisco-based firms, HIP Investor and SVT Group, to evaluate and rate publicly listed companies. You can even rate the companies yourself, and take a quiz to find out whether your company is a HIP (that's Human Impact + Profit) company, and then find out where it falls on the "HIP Revenue" and "HIP Practices Rating" chart.

Posted by Lynne d Johnson at 9:31 PM | 1 Comment

March 9, 2007

BofA Goes Green

It looks like Bank of America (BofA) is trying to be the bank of Al Gore.

America's largest retail bank has already cast its vote in the illegal immigration issue, and on Tuesday BofA weighed in on the global warming debate, announcing what may be the largest environmentally conscious corporate project in history: BofA is committing $20-billion as seed money to support the growth of environmentally friendly businesses that will help reduce global warming.

Over the next decade, Bank of America will earmark funds to lend to companies interested in creating green services or constructing energy-frugal office buildings, reports the Los Angeles Times.

"This is intended to be good business as well as the right thing to do," said Anne Finucane, chief marketing officer for Charlotte, N.C.-based bank, told the times.

Reuters reports that on the consumer side, the bank will issue a credit card where use will result in contributions by the bank to greenhouse gas reduction projects, and a mortgage giving borrowers a reduced interest rate or $1,000 back if they buy energy-efficient homes.

Hmmm…a credit card that gives you airline miles or some sort of carbon credit to somebody else? Tough choice.

Continue reading "BofA Goes Green"

Posted by Alex Pasquariello at 1:05 PM | 1 Comment

February 19, 2007

Merging Questions

Fast Company first wrote about the competition between XM and Sirius a couple of years ago, and while rereading the piece might not be a lesson in "I told you so," the companies' recent merger (subscription may be required) might be of interest.

For me, the merger raises several questions. One, does the merger indicate that the very idea of satellite radio has promise -- or that it might be an idea before its time? If there's truly a sizable business opportunity here, might it not be able to support more than one company? Secondly, I'm somewhat confused by broadcasters' plans to challenge the merger. Mightn't another satellite radio company be formed some day? Is a company a trust if there's still the opportunity for other businesses to enter a market?

And thirdly, what's the appeal? I personally have little interest in satellite radio. I'm not an avid radio listener, and part of me still feels like satellite radio is basically Music Choice (the cable television audio music channels) without the lame trivia questions and karaoke-quality visuals. I'm also curious whether the company's attempts to differentiate themselves content-wise is working. Is Howard Stern appeal enough to sign up for the service?

Maybe the market's too small for one company.

Posted by Heath Row at 8:48 PM | 3 Comments

February 7, 2007

Play for Pay

Progressive leaders such as Whole Foods's John Mackey are capping their pay in order to lead by example. "The tremendous success of Whole Foods Market has provided me with far more money than I ever dreamed I'd have and far more than is necessary for either my financial security or personal happiness," Mackey wrote in a letter to employees. "Beginning on January 1, 2007, my salary will be reduced to $1, and I will no longer take any other cash compensation."

Jan. 1 has come and gone, and executive pay could well become an even bigger issue soon, even on the national stage. Earlier this week, an article in USA Today foreshadowed some possible changes to CEO payrolls.

Lawmakers in both houses of Congress plan to make laws affecting executive pay packages, and a new rule from the Securities and Exchange Commission is forcing companies to provide a simplified summary of top executives' compensation in their public filings. Even President Bush weighed in on the subject last week in New York, exhorting corporate boards to tie CEOs' salaries and bonuses to their success in improving companies and bringing value to shareholders.

It's interesting that President Bush is discussing the issue -- it indicates that concern about pay gaps might not follow party lines. That goes against conventional wisdom. What do you think?

Posted by Heath Row at 10:23 AM | 7 Comments

December 13, 2006

The Google Stock Exchange

A few years ago, back when shares were a modest $200 a pop, I was debating whether or not to buy stock in Google. A friend encouraged me to do it, challenging my hesitation by asking, "Who can stop them?"

The answer, as it turned out, was no one.

Since the start of 2005, the stock has more than doubled, and Google has managed to get a hand in just about everything. From Google Tools and Desktop to Gmail and Google Talk, from Google Earth and Maps to Google Video and Books, the Internet giant does it all.

Now the Mountain View, CA firm is pioneering new ground in employee compensation. While it's not something that you can download off the website, I wouldn't be surprised if other companies start imitating it.

The plan will allow non-executive employees to sell vested stock options through an online-auction exchange. Financial institutions will be able to buy vested options from Google employees at a premium to the option's value.

These transferable stock options are unique in that they offer an ongoing marketplace for vested stock options, and boost the value of the options for Google staffers. Compensation experts are calling it a smart and groundbreaking move on Google's part.

And at this rate, it only seems like a matter of time before something called GOOGLEX is competing with the AMEX and NYSE.

Posted by Peter Hoy at 6:23 PM | 1 Comment

July 24, 2006

Investing Far and Wide

A recent interview with K. V. Kamath, CEO of the second largest bank in India, in the Wharton Leadership Digest indicates that part of ICICI's growth strategy is to focus on rural market development -- and move into the 600,000 villages in India.

Sounds like a wise move. It's about time traditional banks began to take cues from groups like the Grameen Bank. Social entrepreneurs are developing their own version of the IPO. And some banks in the U.S. are opening branches in the inner city and underserved areas -- rather than closing them.

What does ICICI need to do to personalize financial services for this new market of rural customers? How do you think they should manage the expansion?

Posted by Heath Row at 4:58 PM | 1 Comment

July 20, 2006

Banking on Universities

In the university setting, technology transfer can be a major challenge. Students, researchers, and professors regularly discover and develop new technologies and innovations, but most universities don't have the staff or resources needed to find the corporate partners needed to really invest in those innovations.

Enter Utek, a company that helps publicly traded companies connect with university researchers in order to foster and further technology transfer developments. It's stake? Stock shares.

Posted by Heath Row at 11:26 AM | 1 Comment

July 18, 2006

Immelt, Insolvent?

Not too long after a Wall Street Journal article about how a CEO's public persona can help temper and weather public perception of a company's performance, GE chief Jeffrey Immelt takes a hit today for bouncing a $2,000 check.

BloggingStocks contributor Tobias Buckell asks a challenging question: If Immelt can't balance his checkbook accurately, can stakeholders trust him as CEO?

Take the Fast Company poll.

Posted by Heath Row at 3:30 PM | 1 Comment

December 5, 2005

Everyday Economic Indicators

In today's New York Times, accompanying an article on economic forecasts, there's a wonderful graphic offering up a handful of interesting and insightful workaday economic indicators -- anecdotal ways to gauge the state of the economy. Among them:

• Wide price differences for gas indicate that price sensitivity is less important than convenience
• Thickness of the local paper on Thanksgiving -- does the number of separate ad inserts help predict a good year for retailers?
• "No Vacancy" signs mean that prices are rising and that business-to-business transactions are trumping business-to-consumer ransactions
• Restaurant service: If it's good, the unemployment rate is high. If it's bad, high-quality help is harder to come by
• Pawn shop wrenches: In rust-belt locations, check pawn shop windows for tools -- if there are a lot of them, it means that tradesmen are having a rough time
• Cost of a snow-free driveway: If the service provider uses a snowblower, it means gas prices are high. What does it mean if they use a shovel?
• "For Sale" signs can indicate how strong the real estate market is -- particularly if prices are being lowered or properties remain on the market for a long time
• Heavy traffic is worse during rush hour when the economy is good
• Rising gas prices can obviously impact the travel and tourism segments of the economy

What back-of-envelope economic indicators do you use?

Posted by Heath Row at 3:20 PM | 3 Comments

November 21, 2005

Breakthrough Budgets

Late last week in the Wall Street Journal, writer Kate Kelly considered Twentieth Century Fox's recipe for its recent successes with such projects as "Walk the Line" and "In Her Shoes." (Subscription required.)

Apparently, leaders there pair two goals: low, low budgets, and big, big ideas.

How do you build big ideas with limited resources? Do constraints catalyze creativity?

Posted by Heath Row at 4:58 PM | 5 Comments

October 11, 2005

Stock Response

Thanks to FC Now reader "Dave" for pointing us to the Spam Stock Tracker. Writes proprietor Joshua:

On May 5th, 2005, I set out to determine just how much money I could lose by trusting SPAM. What if I purchased 1000 shares of stock from EVERY stock tip mentioned in a SPAM email? Could we all really be missing out on a great opportunity? I made this little web site to keep track of the value of those stocks... without my actually purchasing anything.

Net profit to date? -$7,550.40.

Posted by Heath Row at 4:39 PM

September 22, 2005

TV... &L Statement

Now, I'm not suggesting that any Fast Company readers face financial difficulty, but a new reality TV show project piqued my interest today. Production companies behind programs like "Modern Marvels" and "Joe Somebody" have teamed up with financial expert Peter Bielagus, author of the Getting Loaded book series and Mastering Your Personal Finances.

The makers of the Money Makeover Show are looking for "unusual, extreme, and entertaining stories about real money messes from funny, outgoing and interesting people who are starting their financial life off on the wrong foot." The biggest turnaround tale could well receive a money makeover.

If you know anyone who needs to learn about money and the meaning of life or what their 401(k) may be trying to tell them, help spread the word. You could save a financial life.

Posted by Heath Row at 1:43 PM | 4 Comments

August 17, 2005

Death and Taxes

It's a hot button issue, the Estate Tax, also known as the "Death Tax." The political sides are fairly well defined -- republicans want the Estate Tax abolished and are pressuring democrats to make this happen. Should this happen, the New York Times projects that it may cost the government a trillion dollars by 2011.

But what would this mean for business? Most support dissolving the tax, since that would let more money remain in their pockets. But such support may be short-sighted. Even if the hit is a quarter of the Times' estimate -- say, $250 Billion -- it would have an impactt on our economy. The government may have to raise sales tax to make up the difference, a measure that may hurt business if product sales decrease. And if the income tax increases? Employees will desire raises to maintain their financial status.

Of course, maybe the government won't raise taxes to make up for the loss. They might just cut certain services. While that may not affect business directly, it could hurt employees, shareholders, and customers. Then again, maybe the repeal of the tax won't hit the Government that much. Do you think the Estate Tax should be abolished? Why?

Posted by Kevin Ohannessian at 1:48 PM | 12 Comments

August 2, 2005

No Accounting for...

Talk about taxing! H&R Block overstated its earnings by more than $90 million. Where to turn come tax time? How can a business overcome such a situation -- something that comes at the very core of what you do?

Posted by Heath Row at 8:29 AM | 1 Comment

July 27, 2005

Money, Meaning, Motivation

In the past, Fast Company has considered money and the meaning of life, how new wealth can change your career, and whether money can buy happiness.

In a new Slate essay, Henry Blodgett takes a look at the financial profile of John Roberts, Supreme Court nominee. The "psycho-financial analysis" sheds some light on how Roberts might act in terms of rationality, risk taking, and managing conflicts of interest.

What's your money story? What does it say about the way you work?

Posted by Heath Row at 8:36 AM | 1 Comment

July 13, 2005

From Capitol to Capital

Former Secretary of State Colin Powell has joined VC firm Kleiner Perkins Caufield & Byers as a part-time partner. Powell will coach new business leaders and consult on international affairs.

Is Powell's hire an indication of the continuing importance of smart money? Does the fact that Kleiner Perkins has also hired five additional partners so far this year point to a Silicon Valley resurgence or VC renaissance?

Posted by Heath Row at 10:53 AM | 2 Comments

June 28, 2005

Eye on the Price

Google's share price continues to rise.

How high do you think it will go? Take the Fast Company poll.

Posted by Heath Row at 11:15 AM

June 6, 2005

Debtor's Position

Debt. As a country we are drowning in it. Conventional wisdom states that you have to spend money to make money. How much and how quickly? With the change in the federal financial aid formula college students might have to take on more debt to get a college degree. Is the amount of debt worth it in the long run? Is the money we spend on education worth the salaries we earn?

Posted by Kerry-Ann Austin at 10:46 AM | 4 Comments

May 20, 2005

Money No More

It is an interesting strategy, make purchasing with credit cards easier. Of course, I get visions of Minority Report and other science fiction. But it is a logical progression. It would provide more ease of use for customers, and probably higher profits for credit card companies. Richard Watson's latest column in our innovation resource center also discusses the future of money, how in South Korea people can buy things by waving their cell phone at a screen.

There are questions of security with express-paying, but with internet sales being what they are, such concerns have been addressed by the credit companies. We are a consumer culture. Digital money and express credit cards will only quicken the speed of our lives and shorten our patience and attention span. Is that a good thing, necessarily? What do you all think?

Posted by Kevin Ohannessian at 10:52 AM | 5 Comments

April 11, 2005

Money Clusters

Also in today's WSJ, Lee Gomes offers a solid piece on groups of angel investors, angel networks and the Angel Capital Association.

Angels are being painted the new venture capitalists. What do you think? On mark? Off?

Posted by Heath Row at 5:20 PM

December 20, 2004

Extra Credit

Ever been curious about the emergence of the credit card industry? Frontline and the New York Times have joined up to develop a documentary about the secret history of the credit card. The program has come at a good time, too. In Shell Beach, California, Walter Cavanagh holds the record of possessing the most active credit cards.

His total? 1,496 active cards, 1,495 of which are secured in a safety deposit box -- and one that he pays off every month. He has an additional 2,000 cards that are doubles -- or were issued by now-defunct companies. How many credit cards do you have in use at one time? How do you use them differently?

Posted by Heath Row at 5:35 PM | 2 Comments

December 14, 2004

Best Business Blogs

What are your favorite venture capital-related blogs? Tell us.

Posted by Heath Row at 6:09 PM | 5 Comments

December 3, 2004

The Stock Exchange of Stock Exchanges

Members of the New York Stock Exchange are pressuring the Big Board to go public. Meanwhile, BusinessWeek calls on the NYSE to lower barriers to trading -- suggesting that the NYSE stifles competition from electronic markets like Nasdaq.

Low barriers to entry and competition are largely good things. But I wonder: If a business' success or failure is judged solely on its performance in the stock market -- which isn't always the best gauge -- and that very stock market is also judged solely on its performance as a publicly traded entity, what does that mean for trading? For evaluating the value of organizations? For definitions of success?

Posted by Heath Row at 12:42 PM

November 22, 2004

Era of the Millionaire

The annual survey conducted by the Affluent Market Research Program has found that there are now 8.2 million households in America claiming a net worth of more than $1 million. That's a 33% increase from last year -- and the largest year-to-year change in the program's history. The AMRP's manager says that most of these millionaires are merely investors -- who've stuck with the market through ups and downs for the long haul.

Posted by Heath Row at 9:57 AM

November 11, 2004

Disneyworld of Hurt IV

Roy Disney and Stanley Gold, who have been leading the charge to oust Michael Eisner from Disney's namesake's company -- and to reform the business overall -- has taken another, larger step that could in turn impact business beyond the House of Mouse.

Disney has established an activist investment fund that will help finance good companies run by bad leaders. The Shamrock Activist Value Fund will identify companies that would be better off after a good board- and house-cleaning and work to instigate business practices and corporate governance policies that will improve performance.

I suggest that Disney start by checking out Fast Company's past CEO See-Ya! items.

Posted by Heath Row at 11:12 AM

September 28, 2004

Creative Accounting Reconsidered

What riles me most about creative accounting scandals, besides their moral and ethical no-no's, is the monstrous greed and hubris exhibited by their perpetrators. Enron. Adelphia. Tyco. (Fodder all for CEO See-Ya!) These are just a few companies rocked by scandals that at their heart were about money and power. How then should I react to a new case of misleading accounting in which inaccurate financial data were used for the good of the many instead of the one?

Last week Greece admitted using fudged economic data on multiple occasions to gain entry into the European Union. Potential members of the union are required to keep their budget deficits to within 3 percent of their gross domestic products. In 2000, Greece submitted an official budget deficit of 2 percent of the gross domestic budget that has since then been revised to 4.1 percent. Additional data released also shows that the budget deficit has been revised upward by at least 2 percent for the following three years.

Continue reading "Creative Accounting Reconsidered"

Posted by Michael Taylor at 3:44 PM | 3 Comments

August 26, 2004

News You Can't Use

Did you know that

• Every Visa card starts with the number 4
• Every Mastercard starts with the number 5
• Every American Express starts with the number 3

???

I just learned that -- and I'm not quite sure what to do with the information. I'm also not sure why I'm just now learning this bit of finance trivia; a colleague says she first learned this 15 years ago. Any other credit card arcana?

Posted by Heath Row at 3:02 PM | 6 Comments

June 18, 2004

Out of Stock (Options)

Next week in Silicon Valley, high-tech workers will gather to protest a renewed effort on the part of the Financial Accounting Standard Board to allow companies to expense employee stock options. Shades of Fast Company's April feature that considered the human impact of offshoring, protesters will wear T-shirts reading "I am the face of stock options."

While a House committee has already limited the FASB's initial plan -- and many companies, including those active in the biotech sector are protesting the proposed plan, high-tech heavyweights IBM and Microsoft have surprisingly stepped up to support the FASB. While Microsoft has actively supported the plan, IBM is considered a supporter because it didn't express any reservations when invited to do so.

What do you think about stock options? Expense or asset? Cost or benefit?

Posted by Heath Row at 11:02 AM

May 6, 2004

Mon(k)eyshines

I can't believe it. HBS Working Knowledge late last month published an interview with Matthew Lesko, the Riddler-meets-Joker human cartoon who hypes his Free Money books on TV infomercials.

If you've seen the ads, you've only gotten a taste of what Lesko has up his sleeve. And if you at one point bought any of his books -- like I did, so you don't have to -- you were probably sorely disappointed. Not only is most, perhaps all, of the information publicly available, it's most likely available online now. (Besides, the book I bought, Free Money to Change Your Life was decidedly light on design.)

Does the attention paid by Working Knowledge lend Lesko a confusing credibility? Perhaps. But the article, drawn largely from an early April presentation at HBS, includes some highlights. "Lesko has a unique writing process: plagiarism," writes Wendy Guild Swearingen. "It turns out, he says, that in the government, nothing is copyrighted. He simply cut and pasted text from government publications for his first New York Times bestseller."

Free Money for Repurposing Publicly Available Information, anyone?

Posted by Heath Row at 1:11 PM | 12 Comments

March 17, 2004

Money Matters

The full text of a new anthology published by the Cato Institute is now available online. The Future of Money in the Information Age includes essays and articles by Alan Greenspan and a host of other economic thinkers, theorists, and practitioners addressing domains of trust and monetary innovation.

The text might be a useful parallel read to 10 Things You Always Wanted to Know About Money, Your Money and Your Life, Money Therapy 101, and Money: Is That What You Want? But if you only revisit one Fast Company piece on the topic, be sure to read Jacob Needleman's take on Money and the Meaning of Life.

Posted by Heath Row at 1:58 PM

February 5, 2004

Play Economist-y for Me

Dave Pollard recently turned me on to two colleagues at the Economic Policy Institute who maintain their own blogs. Adam Hersh, a researcher at the institute, maintains Globalize This!, which focuses on "unconventional wisdom on the global political economy." Recent entries address private military corporations and China's currency manupulation.

Globalize This! is a wonderful read parallel to senior economist Max Sawicky's MaxSpeak, You Listen, which is surprisingly -- and humorously -- subtitled "Putting the schizzle in your dialectizzle." He addresses raises, budgeting, and other economic topics.

While Hersh's blog strikes me as more consistently interesting, it's fascinating to get deeper into the heads of economists. And, as Sawicky shows, economists' heads aren't all columns, rows, and numbers. Now, if only Northwestern University's Mark Witte did a blog!

Posted by Heath Row at 4:16 PM | 2 Comments

January 16, 2004

You Down with GDP? II

In response to an entry earlier this week, FC Now reader Jivha indicates that Indian finance minister Jaswant Singh employs the metric Gross National Contentment. Jivha expands on the two concepts in a blog entitled The Tongue.

Posted by Heath Row at 3:33 PM

November 6, 2003

Shallow Pockets

Continuing the microlending work pioneered by Muhammad Yunus Bangladeshi microlending institution the Grameen Bank, grassroots financiers such as Indonesian Ishak Fatoni indicate that microlending can be macro-profitable.

But don't think that microlending is something that happens overseas or in developing countries. Cambridge, Massachusetts-based CircleLending is an online -- and offline -- service that helps facilitate small loans between relatives, friends, and other small parties.

Posted by Heath Row at 8:38 AM

October 6, 2003

Tired? Retire

A study by Boston College's Center for Retirement Research has found that people with 401(k) plans work more than a year longer than those with traditional pensions.

Commenting on the research, an Ernst & Young partner says that while 401(k) plans often inspire people to pay more attention to their investments, few are well suited to manage them well. In fact, 401(k) plans were never intended to be workers' main income upon retirement. Instead, they were intended as a supplement to pensions and social security. Because the latter two have fallen short, business people now work longer to continue building their nest egg.

Posted by Heath Row at 11:21 AM | 3 Comments

October 1, 2003

Venture Capital Letters

Fred Wilson, a venture capitalist working with Flatiron Partners recently started a blog about his work in New York City. Recent entries touch on conferences he's participated in, telecommunications, politics, and social software. Should be a useful tool to follow what's on one venture capitalist's radar.

Posted by Heath Row at 5:02 PM

September 9, 2003

The New Color of Money

RIP "The Greenback" (1905-2003)

The Federal Reserve announced today a firm date for the newly designed twenty-dollar bill to enter circulation, October 9th.

The new twenty, which the Fed says is its most secure note ever, still contains shades of green, but its face now ranges from pink to blue, giving it an overall peach hue on both the front
and the back.

The redesign, the second since the late nineties, is designed to foil increasingly tech-savvy counterfeiters. In 1995, less than 1 percent of counterfeit notes detected in the U.S. was digitally produced. By 2002, that number had grown to nearly 40 percent, according to the U.S. Secret Service.

Due to a few bad apples, we're stuck with peach.

Posted by Kevin O'Donovan at 11:05 AM | 1 Comment

August 29, 2003

Spare Change

I wouldn't normally turn to Nexus, "Colorado's holistic journal," for FC Now fodder, but a recent interview with Bernard Lietaer proposes some provocative ideas about "complementary currencies."

The author of nine books on money and finances, including The Future of Money and The Mystery of Money, Lietaer expands on the relationship between economic stability and political stability, monetary innovations such as frequent-flier miles and loyalty programs, and private currencies.

Related resources: Your Money and Your Life | Money Therapy 101 | Money: Is That What You Want? | Money and the Meaning of Life

Posted by Heath Row at 3:04 PM

August 25, 2003

Giving Credit II

FC Now reader Marc Frandsen points out that American Express is also experimenting with RFID-driven payment tools. After a year-long trial with Amex employees, the company rolled out its ExpressPay program last month throughout the greater, Phoenix, Arizona, area.

The payment tool is currently usable at more than 175 locations in the Phoenix area, including Carl's Jr., Dairy Queen, Kwik Kopy Printing, Quiznos Subs and Schlotzsky's Deli. I've always pegged Amex as an upper-crust and business-oriented credit card. Why start the program at Carl's and Kwik Kopy? Its success is largely dependent on Amex's partners, and it seems there may be better options. Say, Kinko's?

Posted by Heath Row at 2:23 PM | 1 Comment

August 21, 2003

All in the Family

The last Walt Disney Co. shareholder actually named Disney is selling more than 40% of his company stake. Roy Disney, 73, is Walt Disney's nephew -- and currently Disney's largest shareholder. Once he sells his shares, CEO Michael Eisner will be the largest shareholder.

Is this the end of an era in terms of family control of the company? Does this mean that we'll soon be saying, "I'm going to Eisnerland"? Doesn't really have the same ring.

Posted by Heath Row at 3:41 PM | 2 Comments