The #NFL has 337 million reasons to fix its tattered image with female fans.

The NFL’s inept response to domestic violence may jeopardize its fattest-growing business:  Women.

The Licensing Letter estimates that the most popular professional sports league generates about $337 million in retail sales from sales of apparel, accessories and miscellaneous other products (team color nail polish) to women.   These sales have been gaining at a double-digit increase over the past few years, much  better than sales of goods to men.   Women are about 46 percent of the NFL fan base, which is likely the highest among the four major professional sports.

But as I noted in a story for CBSNews.com,  the passion that women have for football has cooled in the wake of the Ray Rice and Adrian Peterson scandals, the passion that some women feel for the sport has cooled considerably.

From the story:

“It has to be a huge worry,” said Galen Clavio, an assistant professor of sports management at Indiana University, adding that women are more likely to follow the NFL than any of the other four major professional sports. “These are major problems that need to be addressed.”

The NFL has tapped into the women’s market is many ways. For instance, it has a partnership with clothing line Touch by Alyssa Milano that sells NFL apparel and accessories such as earrings with team logos on it.

Companies are also eager to tap into the NFL’s female fan base. Female NFL fans can decorate their fingernails with tattoos of their favorite team’s logo and with nail polish matching their team colors. They can make their football season look complete with team insignia earnings and a matching necklace.

The question for the league, as well as for advertisers and merchandisers, is whether women are in a buying mood. Chicago Bears fan Chitra Panjabi, a vice president at the National Organization for Women, discovered football after moving to the U.S. for graduate school a few years ago. Her passion for the game has cooled lately, though she did attend a Bears game recently at Soldier Field. NOW has called on Goodell to resign.

“I am turned off by what the NFL is doing,” she said.

Here’s my 2009 interview with #JoanRivers

Here are some highlights from my 2009 interview with Joan Rivers.  She was promoting a show called  “How’d You Get So Rich?” about entrepreneurs. 

Q: How do you lean politically? Do you consider yourself a Republican?

I consider myself nothing. I never considered myself a Republican. I was very, very, very friendly with Nancy Reagan — well, yes, I guess am a Republican. I don’t believe in death taxes. I think if I pay my taxes, what I have at the end belongs to me. Go to hell! I believe in those kinds of things. I believe the government spends money stupidly. In that kind of a sense, I am a Republican.

 

Have you always seen yourself as a businesswoman?

A: I never see myself as a businesswoman. I just get excited about my projects. I just get excited and very passionate about my projects. I wish I were a better businesswoman. A man named Arthur Toll tried to take my company public and absconded with the funds and literally went to jail over it, so I have not been a very good businesswoman. I had to buy my name back and buy my likeness back.

Q: Do you feel rich?

A: No, no, no. Rich is when you can live the style you live in and never have work again. Rich is having Picasso paint your house. These people in How’d You Get So Rich? are rich. They say to their children, “You’ve been bad — go to your suite.”

Q: How do people like that though deal with a down economy? Do they tell their kids, “No Maserati for your 16th birthday”?

A: Remember, this is all first-generation wealth. So the children have seen the parents make it, and it some cases, the children remember when the parents did not have it.

Q: Why are so many celebrities so bad at handling their money?

A: Because they’re not businesspeople, they’re actors. It’s not about the money. It’s about the craft and the doing of it.

What lower #corn prices mean to investors, consumers

Corn prices have slumped about 20 percent this year and in a piece I wrote for InvestorPlace, I analyzed what this means for Archer Daniels Midland (NYSE:ADM), Tyson (NYSE:TSN),  Hormel (NYSE:HRL), Dean Foods (NYSE:DF), Domino’s (NYSE:DPZ)  and Papa John’s (NYSE:PZZA).

From the story:

The U.S. is in the midst of one of its best crops in years. There’s so much corn that according to Bloomberg News, stockpiles of the grain are growing at their fastest rate in nine years. The U.S. Department of Agriculture recently raised its forecast for the corn crop to 14.03 billion bushels, an increase from the 13.86 billion bushels forecast in July. The 2013 harvest was 13.93 billion bushels.

The myth of high corporate taxes

 The business press is chock full of verbiage from everyone from Fortune 500 executives to business groups that argue that the U.S. is placed  at a competitive disadvantage by its 35 percent statutory tax rate, which is the highest in the world.   But as I noted in CBS Moneywatch,  University of Southern California law professor Edward Kleinbard demolished this widely held view.   

From the article:

“It is true of course that the federal corporate tax rate — nominally, 35 percent — is too high relative to world norms, and that the ersatz territorial system requires firms to waste money in tax planning and structuring, but effective marginal tax rates and overall effective tax rates reach the level of the U.S. headline rate only when firms studiously ignore the feast of tax planning opportunities laid out before them on the groaning board of corporate tax expenditures,” he wrote in the 32-page paper.

 

 

Throwing cold water on the ALS Ice Water Challenge

  Pete Frates, a 29-year-old former Boston College baseball player who is confined to a wheelchair because amyotrophic lateral sclerosis (ALS), agreed in July to have himself doused with bucket of ice water to raise awareness of his affliction, which also known as Lou Gehrig’s disease.    The ALS  Ice Water Challenge has succeed beyond his wildest dreams attracting 15 million people including everyone from entertainer Justin Timberlake to New Jersey Gov. Chris Christie.   Therein lies the problem.

Though I feel for Frates, whose wife is expecting their first child, and anyone who has been touched by this awful and always-fatal disease, most Americans are never going to meet anyone like him.  According to the ALS Association,  there are at most 30,000 people in the U.S. with the neurodegenerative condition at any given time.      Compared with other diseases that’s pretty small potatoes.   For instance, there are roughly 14 million people with cancer, according to the American Cancer Society.   About 5.2 million people have Alzheimer’s disease and about 1 million have Parkinson’s Disease, including yours truly.

Though the media coverage of ALS Ice Water Challenge talks about the need to raise “awareness” about the disease,  I don’t understand why that’s necessary.    Unlike HIV or Ebola,  ALS isn’t communicable.    Though there is some evidence that ALS has a genetic basis, like Tay-Sachs or Sickle-Cell Anemia,  most cases are “sporadic”, meaning the patient has no family history of the disease.   It seems that the people who need to be aware of ALS are painfully “aware” of it.

Moreover, the $10 million or so that the ALS Society has reportedly raised from the Ice Water Challenge probably won’t make a damn bit of difference in the search for a cure since it costs billions for drug companies to bring new medications to the market.    By the way, the pharmaceutical companies aren’t hiding a cure for ALS or any other awful disease.   These companies are about maximizing profits and shareholder returns if they are publicly traded.   A new wonder drug for Hepatitis C called sofosbuvir costs $90,000 for a 12-week course of treatment.   Imagine what a pharmaceutical company would charge for an effective ALS treatment or — god willing a cure.   It would make sofosbuvir’s costs seem like chump change.

I don’t begrudge the ALS Society their 15 minutes of fame.  Barbara Newhouse,  the non-profit’s CEO, has vowed to invest the Ice Bucket Challenge money “In helping people with ALS and their families and caregivers in the battle against the disease, while resolutely pursuing all avenues to extend, improve and ultimately save lives.” I solute the creativity of ICE Bucket Challenge.   If people are touched by disease, they should donate to the ALS Society, which is rated highly by the watchdog group Charity Navigator.    The publicity surrounding it has received it certainly a godsend.  (Update) The ALS Society is in the black as of its most recent 990 filed today though it had operated in the red during the 2013 fiscal year.

Of course,  I am annoyed that the ALS Ice Bucket Challenge is diverting attention from Parkinson’s disease.  Some may say that people with Parkinson’s and other conditions need to create their own “challenge” to grab the public’s attention.  I understand that argument but it makes me feel kind of sad, as if it I have to make my suffering entertaining to grab the public’s attention.  Even so, that’s easier said than done.

Thanks to the 24-hour news cycle, the public is like kittens playing with a tinfoil ball when they are excited by a fad.  They quickly move onto to something else when they get bored by their toy.  Let’s see how donations to the ALS Society hold up in six months or a year.

(Post has been revised)

Forget “The Michael J. Fox Show”, Working With #Parkinson’s Isn’t Easy

Michael J. Fox’s now-canceled television show told the story of a television reporter with Parkinson’s disease who thanks to the marvels of medical science is able to resume work after a multi-year layoff.    Though the premise of “The Michael J. Fox Show” was certainly  heartwarming, it doesn’t represent the real-world experience of many people with the incurable neurological disorder.   I have Parkinson’s disease and thought the show was mediocre even tough I really wanted to like it. From CBS MoneyWatch:. “This was within a week of having my job review in which he told me how well I was doing my job and giving me a raise,” she wrote in an email. “This produced such sadness I just wanted to die. It took me http://www.youtube.com/watch?v=8M_5EHJOjlE well over a year to start feeling good about myself.”

Why TSLA’s cars are a better investment than the company’s stock

Shares of Tesla (TSLA), Elon Musk’s electric vehicle company, aren’t priced for perfection.  They are valued as if the sun, moon and stars were in perfect alignment.

As I noted in a post for InvestorPlace, Tesla faces huge challenges such as increasing battery production, broadening its product line an increased competition from conventional automakers.   From the story:

While Tesla certainly is innovative and its CEO, Elon Musk, is among the most colorful, many people seem to forget that TSLA hasn’t yet made money on an unadjusted basis and might not for some time. Tesla’s costs will skyrocket in the coming years as it faces increased competition from the mainstream auto industry.

Anyone who is tempted to buy TSLA and can afford it should buy one of the company’s vehicles.  By all accounts, they are among the most reliable ever built notwithstanding the reports of vehicle fires.    If that idea doesn’t work, try lying down until the urge to buy this highly risky stock goes away.

There are too many bosses at #PhiladelphiaInquirer

Let’s set aside the issue about whether Bill Marimow deserved to be fired as the editor of The Philadelphia Inquirer and discuss a more troubling question:  Who’s the boss?

Former New York Nets owner Lewis Katz. H. F. “Jerry” Lenfest,  South Jersey political boss George E. Norcross III; Krishna Singh, chief executive of the Holtec International Corp.; William Hankowsky, chief executive of Liberty Property Trust; and Joseph Buckelew, chairman of Conner Strong & Buckelew, joined forces last year to buy the Philadelphia Inquirer and the Daily News and website Philly.com for $55 million.

What made them think they would be able to set aside their considerable egos and work together to run one of the largest U.S. newspaper, an industry which none of them had any experience?   I know they spoke of their desire to own the papers for the “benefit of the community”, but what does that mean?    It’s doubtful that they appreciated the depth of the paper’s problems.

Every business needs a boss.   In theory, the boss of Interstate General Media is supposed to be Publisher Robert Hall.    In reality, it remains unclear who is running the company. Norcross has installed his daughter Lexi as the head of Philly.com and has decided to concern himself with such mundane details such as the brand of coffee employees drink in their break room.

About the only thing that the owners all agreed on was that they should hire Marimow, who had done two other tours with the Inquirer.  Former Inquirer columnist Gail Shister noted in Philadelphia Magazine that Marimiow isn’t universally beloved. “As a newsman, Marimow’s moral authority is beyond question,” she writes. “As a manager, the same cannot be said.”

Katz and Lenfest are suing their fellow owners over their decision to fire Marimow.   Given the level of animosity that is evident among the paper’s owners, I don’t see how they can continue to work together.   Winding down this partnership isn’t going to be easy or cheap.  This distraction is the last thing the paper needs.

Further complicating the situation is the long-time romance between Katz and Nancy Philips, a veteran Inquirer editor.  That explains why Marimow was blocking needed change at the paper, according to his critics.  Norcross  told the  New York Times, that Katz “wants to control the newsroom to satisfy his friends and punish his enemies.”  That’s a ludicrous idea.

First of all, herding cats is easier than getting a large group of journalists to agree on anything Katz and Philips  have made little effort to hide their relationship. Robert Hall,who has been associated with the paper for years, must have mentioned it at some point to the company’s owners. Continue reading

Michael J. Fox, the #Parkinson’s cause and me

Michael J.  Fox, god bless him, should win a medal one day for all the good he’s done to advance the cause of Parkinson’s research.    As I wrote in The Fiscal Times, the community could not have asked for a better spokesman.

His “Q Score,” a measure of celebrity awareness and likeability, stands at 28 percent, nearly double the 16 percent average. A whopping 88 percent of adults aged 18 and older know who Fox is, more than double 31 percent average for other celebrities.

My one quibble with Fox is that “The Michael J. Fox Show” is  a mediocre effort.    As a Parkie — Parkinson’s sufferer — I wasn’t expecting every episode to be an infomercial about my disease.  What I was hoping for was some laughs, which have been lacking.  The first two episodes were disappointing.  I thought the third one was a little better.

Maybe the show will get better over time.  Maybe it won’t.

But the fact that millions of people are now aware of Parkinson’s that weren’t before is a good thing.

And if Michael J. Fox or any of his people happen to be reading this blog, I think I have got some ideas that can save your show.

Call me. :)

Wall Street ignores `crazy’ government #shutdown”, at least for now.

Whose running Congress these days? I bet Ozzy Osbourne is the conductor on this “crazy train.”
You see only crazy people and the House Republican leadership want to shut down the government.  As I noted in Investopedia, the shutdown fight could lead to a far more worrisome battle over the debt ceiling, which could lead to the government defaulting on its financial obligations for the first time in our country’s 237 year history.

From the story:

The government is expected to hit its borrowing limit, which it needs to fund its activities sometime in October. Though some people have tried to compare the U.S. with cash-strapped countries such as Greece, there is a critical condition. Greece needed several bailouts because it couldn’t afford to pay its bills. The U.S. can afford to pay its creditors but sometimes threatens not to, a situation that in 2011 cost the US its AAA bond rating

For now, the market is yawning at the impasse in Washington. Major stock indexes are trading up. Gold, though, is plunging which is strange since people usually buy the metal when people get scared about their economic futures.

People can’t relax because this could easily be the calm before the storm.