Monday, April 16, 2012

Reuters: Small Business News: Management Tip of the Day: Stop the multitasking madness

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Management Tip of the Day: Stop the multitasking madness
Apr 16th 2012, 21:03

BOSTON | Mon Apr 16, 2012 5:03pm EDT

BOSTON (Reuters) - Multitasking makes us more prone to making mistakes, more likely to miss important information and cues, and less likely to retain information in working memory, which impairs problem solving and creativity, says Harvard Business Review.

The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.

"Multitasking may speed you through your to-do list, but it also makes you more likely to make mistakes and less likely to retain information.

Here are three ways to focus:

1. Think good thoughts. Positive emotions improve the brain's executive function and encourage creative and strategic thinking. Improve your emotional balance by actively thinking about things that make you happy.

2. Ban distractions. Be aware of what steals your attention. When disrupted, make a conscious choice to return to the task at hand.

3. Leave things behind. When you turn to a new task, part of your brain is still thinking about the last one. Before starting something new, go for a walk, climb stairs, or do some deep breathing to clear your head."

- Today's management tip was adapted from "Train Your Brain to Focus" by Paul Hammerness, MD, and Margaret Moore.

(For the full post, see: here)

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Friday, April 13, 2012

Reuters: Small Business News: Internet smartwatch orders net $2 million for start-up

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Internet smartwatch orders net $2 million for start-up
Apr 13th 2012, 21:59

By Alastair Sharp

TORONTO | Fri Apr 13, 2012 5:59pm EDT

TORONTO (Reuters) - A Canadian entrepreneur's smartwatch, which works alongside a user's smartphone, has won $2 million worth of orders through an Internet-based funding venture that offers cash-starved companies a way to both test their ideas and raise funds.

Eric Migicovsky initially sought $10,000 over a five-week period through Kickstarter (www.kickstarter.com), a website set up to encourage small-scale funding for innovative projects. In just three days, the project has brought in $2.1 million, amounting to orders for almost 17,000 watches at a starting price of $115 each. Bulk orders are cheaper.

Migicovsky, who has been working on smartwatches for three years, moved his company, Pebble Technology, from Research In Motion Inc's hometown of Waterloo, Ontario, to Google's hometown of Mountain View, California, in June.

He said Pebble Technology decided to go directly to customers after failing to raise interest among Silicon Valley investors.

"We tried to raise money, it was impossible. No one really wants to fund hardware projects right now, except for the people that want to buy them," he said.

Pebble watches work with iPhones or with smartphones that use Google Inc's Android operating system. They can display distance and speed for runners and cyclists, control a smartphone's music, and show emails, messages and reminders. Pebble plans further applications before it starts shipping the watches in September.

Under the Kickstarter model, a project's developer must set a deadline for reaching its funding goal. If time runs out, no money changes hands. Kickstarter says this protects both parties as buyers don't pay until developers have adequate funds to develop their project.

Migicovsky said Pebble would likely boost its team of six by several more engineers to develop features for the watches. He said interested investors have approached him since the orders starting flowing in, but he declined to provide further details.

His smartwatch will compete with one released this month by global electronic giant Sony Corp, a gadget that works with Android phones.

"We'll let people vote with their wallet," he said.

(Reporting by Alastair Sharp; Editing by Janet Guttsman)

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Reuters: Small Business News: In Silicon Valley, designers emerge as rock stars

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
In Silicon Valley, designers emerge as rock stars
Apr 13th 2012, 19:02

Facebook design chief Kate Aronowitz poses for a photograph at her desk at the company's headquarters in Menlo Park, California March 2, 2012. REUTERS/Robert Galbraith

1 of 2. Facebook design chief Kate Aronowitz poses for a photograph at her desk at the company's headquarters in Menlo Park, California March 2, 2012.

Credit: Reuters/Robert Galbraith

By Gerry Shih

SAN FRANCISCO | Fri Apr 13, 2012 3:02pm EDT

SAN FRANCISCO (Reuters) - Five years ago, Justin Edmund arrived at Carnegie Mellon University, a floppy-haired freshman, with artistic talent and dreams of joining a venerable design firm like IDEO or Frog. But during his sophomore year, a recruiting pitch from a Facebook employee turned his head, and prompted a detour of his ambitions.

"It didn't even occur to me that working at a tech company was something I could do," Edmund said. "I switched my trajectory completely."

So, in 2010, Edmund interned on Facebook's burgeoning design team, and, after graduation, landed a job at Pinterest. There, at just 21, he has played a central role in building the virtual scrap-booking site into one of the hottest startups on the Internet.

Edmund isn't alone. Inspired by the legacy of Steve Jobs and lured by the promise of the current tech boom, young designers are flocking to Silicon Valley, where they're shaking up a scene long dominated by engineers and programmers.

The new breed of "user experience" designers - part sketch artist, part programmer, with a dash of behavioral scientist thrown in - are some of the most sought-after employees in technology. Entry-level interactive designers at startups are commanding salaries easily topping $80,000, almost twice the median pay for primarily print designers of about $45,000, according to a recent survey by the American Institute of Graphic Arts.

IN-HOUSE TALENT

Top venture capital firms, from Google Ventures to Andreessen Horowitz, are hiring in-house designers to help the young startups in their portfolios. One angel investor has even established a Designer Fund to identify startups driven by design talent.

To feed demand, new digital design programs have sprouted over the past two years, at both elite engineering universities such as Stanford, and art schools like the California College of the Arts. The School of Visual Arts in New York has seen applications for its digital design program soar by 43 percent since its inception in 2009.

Indeed, the flourishing of digital design reflects the Valley's evolution, entrepreneurs and investors say.

In the latest generation of innovation, heavily concentrated in applications for mobile devices and social networks, and relying on ever-cheaper cloud-computing services, success depends not on whiz-bang technology, but rather, on a subtle sense of how to make features useful and engaging.

The most recent example is Instagram, the slick photo-sharing app that was snapped up by Facebook earlier this week for $1 billion. The 12-person company's founding duo includes Kevin Systrom, who majored in Management Science and Engineering at Stanford, and Mike Krieger, who describes his background as "Human-Computer Interaction and User Experience."

"There's a growing recognition that it's critical for a company's first employees to be people with great design sense," said Eric Feng, founder of Hulu and Erly, an evite- and photo-sharing company, and a former partner at venture capital firm, Kleiner Perkins Caulfield and Byers. "That's true even if you look at larger companies like Google and Facebook, who have moved in that direction."

To be sure, engineers still occupy a rarefied perch at the top of the Silicon Valley hierarchy, and are the target of the fiercest recruiting battles.

VISUAL APPEAL

But even Facebook, famous for a culture that glorifies the "hacker way," now talks of integrating "design thinking" into its products and has steadily beefed up its design studio.

From her team's brightly-colored studio in Facebook's Menlo Park offices, design chief Kate Aronowitz dispatches designers who are paired with an engineer, a product manager and sometimes a researcher to conceive new products or improve features such as user profiles or messages.

The embrace of design starts at the top with CEO Mark Zuckerberg, who has stressed the importance of building a crack design team, Aronowitz said.

In a highly competitive recruiting climate, it's not uncommon for even Facebook to encounter top design talent playing hard to get. For the toughest cases, Aronowitz plays her trump card: She asks Zuckerberg to place a personal phone call.

"When they're not returning my email, that tends to work," said Aronowitz, who herself was poached by Zuckerberg from LinkedIn in 2009. "I'm lucky to have that in my back pocket."

The spotlight fell squarely on the design team last November, when Facebook credited Nicholas Felton, one of its data-visualization experts, with conceiving the Timeline interface which has become one of Facebook's most significant overhauls in recent years.

For fledgling startups, it's even more critical to understand how design affects user behavior, said Dave McClure, an angel investor who cited the example of Mint, an online tool for managing personal finances acquired by Intuit in 2009.

Jason Putorti, the startup's designer founder, lent the Mint interface "much more warmth," which was crucial for a startup that dealt with sensitive information, McClure said. Design, he added, "made the app feel trustworthy, comforting, functional."

Last year, McClure put down money to create the Designer Fund, a program that identifies entrepreneurs with strong design backgrounds and offers seed money and mentoring from experienced founders like Putorti and Chad Hurley, of Youtube. The fund, headed by Enrique Allen, a 25-year old graduate of Stanford's design school, has partnered with more established venture investment firms like Khosla Ventures, Andreessen Horowitz and Kleiner Perkins.

"We're reshaping a lot of how you build a company," McClure said. But, he added, "there's still a resource and talent shortage" for interaction designers.

SCOUTING FOR ARTISTS

Finding exceptional design talent, though, is not a simple matter. Last year, Kalvin Wang, the co-founder of Ridejoy, a service that arranges carpools, said he spent several "incredibly hard" months recruiting an interaction designer.

Dirk Cleveland of Riviera Partners, a Silicon Valley headhunting firm, said startups have trouble finding a design "unicorn" - the rare designer with the interactive digital skills that many app startups require.

"It's literally the toughest position to fill right now," Cleveland said. "That equation of supply and demand is out of balance. Engineering education has progressed, and startups have learned to do more with limited resources, but I don't think that's the case for design."

Even though he sifted through 150 resumes, Wang said, "There are so many startups and so many tech companies that are snapping them up. It's slightly ridiculous."

Ridejoy interviewed candidates from Toronto, New York and the Midwest, and ultimately hired a Parsons School of Design graduate living in Omaha.

"You do really have to look outside Silicon Valley," Wang said. "For Bay Area designers, they have literally hundreds of options and they're going to work at a place where they know people, or a big name like Google."

The sizzling job market hasn't escaped the notice of design schools across the country.

Liz Danzico, founding director of the School of Visual Arts' masters program in Interaction Design, said the original goal was simply to understand where the new innovation economy field was going. "Experience is now the material, not ceramic or plastic," she said.

Still, Danzico expected most graduates to stay in New York â€" the traditional hotbed of design. She was "really surprised" to find, in a survey of her first graduating class, that almost half ended up on the West Coast at companies including Apple, Facebook, Twitter and Yelp.

Meanwhile, at Carnegie Mellon, Kelly Lau-Kee, a junior industrial design major, said "there's huge buzz generated by the students, the employers, even the professors" about the prospect of work in Silicon Valley.

On any given day, Lau-Kee said, she'll spot pictures on Facebook and Instagram shared by friends currently employed by startups. They paint a heady picture of life in California, of snazzy workspaces, hip coworkers and sunshine spilling into every frame.

"A lot of people like the mentality of work and play, which the startups advertise really well," she said. "It's a culture we really want to check out."

Wayne C. Chung, the chair of Carnegie Mellon's industrial design program who taught Edmund, the young star at Pinterest, said the new economics of the profession was evident on college grounds. Traditional design firms, buffeted by the last recession, have noticeably cut back on recruiting, while tech companies have maintained a visible presence on campus, he said.

After this semester, Chung expects another sizeable contingent of his graduates to make their way West to Silicon Valley.

"In their hearts and eyes," Chung said, "they don't see anything else as nearly as exciting.

(Editing by Jonathan Weber and Bernadette Baum)

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Reuters: Small Business News: Management Tip of the Day: Find a mentor who's been in your shoes

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Management Tip of the Day: Find a mentor who's been in your shoes
Apr 13th 2012, 13:53

BOSTON | Fri Apr 13, 2012 9:53am EDT

BOSTON (Reuters) - A mentor who has recently trod the same career path as you could be more useful than one with the ultimate depth of experience, says Harvard Business Review.

The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.

"When people early in their careers seek mentors, they often target those with a depth of experience. But experts can't teach you everything. And, often they are so far removed from your day-to-day work that they can't help you solve problems.

Select at least one mentor with only a few more years of experience than you. Someone who has recently walked in your shoes can give you practical, relevant advice on the challenges you face.

She may also give you insight into what's coming in your career and the types of challenges you'll be up against next."

- Today's management tip was adapted from the book, "Guide to Getting the Mentoring You Need."

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Thursday, April 12, 2012

Reuters: Small Business News: Analysis: Bull rush: Record Angus sales augur beefed-up U.S. herd

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Analysis: Bull rush: Record Angus sales augur beefed-up U.S. herd
Apr 13th 2012, 00:51

A Hereford and Black Angus mix cow with her calf in the field in Millington, Illinois, April 10, 2012. From Illinois to Montana, the price of breeding bulls has surged by as much as 70 percent from a year ago. REUTERS/Jeff Haynes

1 of 3. A Hereford and Black Angus mix cow with her calf in the field in Millington, Illinois, April 10, 2012. From Illinois to Montana, the price of breeding bulls has surged by as much as 70 percent from a year ago.

Credit: Reuters/Jeff Haynes

By Theopolis Waters

CHICAGO | Thu Apr 12, 2012 8:51pm EDT

CHICAGO (Reuters) - Kramers Mandate, a majestic 13-month-old weighing nearly 1,300 lb (590 kg), commanded the highest price for a breeding bull in the 44-year history of an annual auction in Illinois.

At $8,800, the Angus breed with a shiny black coat was the pick of the litter at one of the most heated sales in decades. Another 77 bulls of lesser pedigree also sold for record prices at the February auction.

From Illinois to Montana, the price of U.S. breeding bulls has surged by as much as 70 percent from a year ago, with ranchers and specialist breeding firms competing fiercely for prime specimens that, given time, will help rebuild an American cattle herd that has dwindled to the smallest in 60 years.

Eventually, the rush should translate into greater cattle supply and lower retail beef prices that have reached record heights since last year, tempering fears of resurgent food price inflation and bolstering margins for companies like JBS USA and Tyson Foods Inc (TSN.N), which have been beset by two years of high feed costs and more recently by the "pink slime" debacle.

It also shows that ranchers may be ready to set aside the painful precedent of five years ago, when they rushed to expand production just as grain prices shot up, wiping out margins and forcing many into financial distress.

"Expectations for the future look very promising as cow numbers have declined and demand in the domestic and export markets has been very strong," said Dave Seibert, 67, a retired livestock specialist from the University of Illinois in Urbana-Champaign who ran the Illinois auction.

It is a nervy wait: the gestation period of a cow can typically last nearly 10 months and the animal will spend another five to six months being fattened on a steady diet of corn until it weighs above 1,000 lbs.

Seibert said the sale was one of the most active and well attended he had seen in his more than 30-year involvement with the event.

"The higher price for herd sires (bulls) was driven by the outstanding genetics, weights and performance provided at the sale. Also, impacting the higher prices was the record price of feeder cattle and finished steers," he said.

DROUGHT BLIGHTS PASTURE

It's been a mixed year for America's cattle ranchers.

Retail prices for beef in the United States hit record highs for five straight months, topping $5 a lb in January before easing in February. Prices for cattle in Texas rose to a record $130 per hundredweight in early March as meat companies scrambled to maintain domestic sales and meet export demand from countries such as Japan, South Korea and Mexico.

But the higher revenues come at a longer-term cost: Many ranchers have had little choice but to sell their calves to feedyards months before the animals are usually ready, depleting supplies of young cattle as devastating drought in the southern Plains decimated pastures, causing the price of hay to treble.

The rush to buy bulls is one of the first signs that ranchers are at last investing in expanding their herds.

"This year we are essentially growing our herd. The bottom line is a calf is worth more money," said Sara Rehm, chief financial officer of Cross Four Ranch in Miles City, Montana.

She said the ranch, sprawled over 200,000 acres, had already bought about half of the 25 mostly Angus bulls it planned to purchase this year. The cost of between $5,600 and $6,000 each was about $1,500 to $2,500 higher than last year, she said.

On average, Cross Four Ranch buys anywhere from 20 to 45 bulls per year. It purchased nearly 40 bulls in 2011.

Rehm said Cross Four had also retained more heifers for breeding this spring than in the past, thereby increasing the need for bulls. Heifers are young cows that usually have not yet given birth.

"I'd say that's industry-wide, at least in our country," Rehm said.

Chris Hurt, an economist at Purdue University in Indiana, said retail prices for beef were expected to rise nearly 7 percent this year from 2011 to about $5.15 per lb on average, adding that the amount of beef available per capita would drop to 55 lb in 2012 from 65 lb five years ago.

The average price of Angus bulls sold at auction in the six months through March rose 21 percent from a year earlier to an average of $4,627 per head, according to the American Angus Association. It says data from 444 reported sales shows 31,278 Angus bulls sold for an overall total of $144 million. For the same period of 2010-2011, bulls averaged $3,803 per head worth a total of $121 million.

The use of filler meat called "finely textured beef" by the industry and referred to by critics as "pink slime" has caused an uproar that has hurt demand for beef and made prices tumble.

But few livestock traders see demand waning for the prize bovine specimens that will help restore the cattle herd years down the road, when fears over the filler meat are expected to have faded.

MARBLING MAKES FOR JUICINESS

Marvin Kramer, 52, owns Kramer Angus, a family-run operation in Farina, Illinois set up more than five decades ago by Eugene and Marilyn Kramer. He is also the former owner of Kramers Mandate.

He said buyers prefer pure-bred bulls that rank highly in traits such as ease of birthing for the cow and how quickly calves would mature -- making them less costly to maintain.

Buyers are also looking for bulls that can produce calves with inter-muscular fat or marbling that consumers associate with tenderness and flavor.

"That commands a premium price from the people who are consuming the beef and he (Kramers Mandate) had all of those things going for him," he said.

For the new owner of Mandate, Alta Genetics, the bull's semen will be marketed domestically as well as in other beef-producing counties such as Mexico, Brazil and Australia.

Roger Sosa, beef program director of Alta, based in Alberta, Canada, said Mandate was at the firm's facility in California, where he would breed naturally for about three months.

This summer he will be moved to another location, where his semen will be extracted for artificial insemination.

Mandate's future and the revenue the bull generates for Alta largely depend on his productivity, Sosa said.

"A vial, or straw, of semen can go for $5 to $50 per unit. If everything we expect comes to fruition, you can sell for an average of $30 per unit," he said.

Sosa said Mandate has the potential of producing semen for 10 to 12 years given the way he would be managed.

"He's going to be a very happy bull. For whatever it's worth, everything is going to be brought to him," Sosa said. "He's going to be in a very cushy environment."

(Editing by K.T. Arasu and Dale Hudson)

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Reuters: Small Business News: Analysis: Bull rush: Record Angus sales augur beefed-up U.S. herd

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Analysis: Bull rush: Record Angus sales augur beefed-up U.S. herd
Apr 12th 2012, 18:47

By Theopolis Waters

CHICAGO | Thu Apr 12, 2012 2:47pm EDT

CHICAGO (Reuters) - Kramers Mandate, a majestic 13-month-old weighing nearly 1,300 lb (590 kg), commanded the highest price for a breeding bull in the 44-year history of an annual auction in Illinois.

At $8,800, the Angus breed with a shiny black coat was the pick of the litter at one of the most heated sales in decades. Another 77 bulls of lesser pedigree also sold for record prices at the February auction.

From Illinois to Montana, the price of U.S. breeding bulls has surged by as much as 70 percent from a year ago, with ranchers and specialist breeding firms competing fiercely for prime specimens that, given time, will help rebuild an American cattle herd that has dwindled to the smallest in 60 years.

Eventually, the rush should translate into greater cattle supply and lower retail beef prices that have reached record heights since last year, tempering fears of resurgent food price inflation and bolstering margins for companies like JBS USA and Tyson Foods Inc (TSN.N), which have been beset by two years of high feed costs and more recently by the "pink slime" debacle.

It also shows that ranchers may be ready to set aside the painful precedent of five years ago, when they rushed to expand production just as grain prices shot up, wiping out margins and forcing many into financial distress.

"Expectations for the future look very promising as cow numbers have declined and demand in the domestic and export markets has been very strong," said Dave Seibert, 67, a retired livestock specialist from the University of Illinois in Urbana-Champaign who ran the Illinois auction.

It is a nervy wait: the gestation period of a cow can typically last nearly 10 months and the animal will spend another five to six months being fattened on a steady diet of corn until it weighs above 1,000 lbs.

Seibert said the sale was one of the most active and well attended he had seen in his more than 30-year involvement with the event.

"The higher price for herd sires (bulls) was driven by the outstanding genetics, weights and performance provided at the sale. Also, impacting the higher prices was the record price of feeder cattle and finished steers," he said.

DROUGHT BLIGHTS PASTURE

It's been a mixed year for America's cattle ranchers.

Retail prices for beef in the United States hit record highs for five straight months, topping $5 a lb in January before easing in February. Prices for cattle in Texas rose to a record $130 per hundredweight in early March as meat companies scrambled to maintain domestic sales and meet export demand from countries such as Japan, South Korea and Mexico.

But the higher revenues come at a longer-term cost: Many ranchers have had little choice but to sell their calves to feedyards months before the animals are usually ready, depleting supplies of young cattle as devastating drought in the southern Plains decimated pastures, causing the price of hay to treble.

The rush to buy bulls is one of the first signs that ranchers are at last investing in expanding their herds.

"This year we are essentially growing our herd. The bottom line is a calf is worth more money," said Sara Rehm, chief financial officer of Cross Four Ranch in Miles City, Montana.

She said the ranch, sprawled over 200,000 acres, had already bought about half of the 25 mostly Angus bulls it planned to purchase this year. The cost of between $5,600 and $6,000 each was about $1,500 to $2,500 higher than last year, she said.

On average, Cross Four Ranch buys anywhere from 20 to 45 bulls per year. It purchased nearly 40 bulls in 2011.

Rehm said Cross Four had also retained more heifers for breeding this spring than in the past, thereby increasing the need for bulls. Heifers are young cows that usually have not yet given birth.

"I'd say that's industry-wide, at least in our country," Rehm said.

Chris Hurt, an economist at Purdue University in Indiana, said retail prices for beef were expected to rise nearly 7 percent this year from 2011 to about $5.15 per lb on average, adding that the amount of beef available per capita would drop to 55 lb in 2012 from 65 lb five years ago.

The average price of Angus bulls sold at auction in the six months through March rose 21 percent from a year earlier to an average of $4,627 per head, according to the American Angus Association. It says data from 444 reported sales shows 31,278 Angus bulls sold for an overall total of $144 million. For the same period of 2010-2011, bulls averaged $3,803 per head worth a total of $121 million.

The use of filler meat called "finely textured beef" by the industry and referred to by critics as "pink slime" has caused an uproar that has hurt demand for beef and made prices tumble.

But few livestock traders see demand waning for the prize bovine specimens that will help restore the cattle herd years down the road, when fears over the filler meat are expected to have faded.

MARBLING MAKES FOR JUICINESS

Marvin Kramer, 52, owns Kramer Angus, a family-run operation in Farina, Illinois set up more than five decades ago by Eugene and Marilyn Kramer. He is also the former owner of Kramers Mandate.

He said buyers prefer pure-bred bulls that rank highly in traits such as ease of birthing for the cow and how quickly calves would mature -- making them less costly to maintain.

Buyers are also looking for bulls that can produce calves with inter-muscular fat or marbling that consumers associate with tenderness and flavor.

"That commands a premium price from the people who are consuming the beef and he (Kramers Mandate) had all of those things going for him," he said.

For the new owner of Mandate, Alta Genetics, the bull's semen will be marketed domestically as well as in other beef-producing counties such as Mexico, Brazil and Australia.

Roger Sosa, beef program director of Alta, based in Alberta, Canada, said Mandate was at the firm's facility in California, where he would breed naturally for about three months.

This summer he will be moved to another location, where his semen will be extracted for artificial insemination.

Mandate's future and the revenue the bull generates for Alta largely depend on his productivity, Sosa said.

"A vial, or straw, of semen can go for $5 to $50 per unit. If everything we expect comes to fruition, you can sell for an average of $30 per unit," he said.

Sosa said Mandate has the potential of producing semen for 10 to 12 years given the way he would be managed.

"He's going to be a very happy bull. For whatever it's worth, everything is going to be brought to him," Sosa said. "He's going to be in a very cushy environment."

(Editing by K.T. Arasu and Dale Hudson)

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Reuters: Small Business News: The rise of the MBA entrepreneur

Reuters: Small Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
The rise of the MBA entrepreneur
Apr 12th 2012, 17:36

MIT Sloan Fellows participate in a simulated stock market during classes at the Massachusetts Institute of Technology Sloan School of Management in Cambridge, Massachusetts July 23, 2009. Young investors may accept the argument that those who begin investing when stocks are cheap end up with more retirement money, but after the turmoil of the past year, some find it hard to put their money in the market. Picture taken July 23, 2009. To match feature YOUTH-INVESTORS/ REUTERS/Brian Snyder

MIT Sloan Fellows participate in a simulated stock market during classes at the Massachusetts Institute of Technology Sloan School of Management in Cambridge, Massachusetts July 23, 2009. Young investors may accept the argument that those who begin investing when stocks are cheap end up with more retirement money, but after the turmoil of the past year, some find it hard to put their money in the market. Picture taken July 23, 2009. To match feature YOUTH-INVESTORS/

Credit: Reuters/Brian Snyder

By Mike Taylor

Thu Apr 12, 2012 1:36pm EDT

When Chika Ekeji enrolled in the MIT Sloan School of Business' full-time MBA program, he was ambivalent about actually finishing his degree. What he was really in school for, he'd decided, was a chance to found his own company.

"I used to joke that I was on the dropout path," says Mr. Ekeji, who while at Sloan helped develop mobile-phone technology that diagnoses impaired vision and an app that helps researchers find field workers in low-income countries. "As soon as I got the right idea, the right team, I was gone."

That's a remarkable attitude for a student at a top-ranked business school, where costs can exceed $85,000 a year. Most MBAs seek steady, jobs in finance or consulting, where they can quickly recover their cash and start building wealth. Nevertheless, Mr. Ekeji is part of a rare but growing breed of student: the MBA-entrepreneur who shrugs off anti-MBA snobbery from the entrepreneur community.

According to a survey of administrators, career-services advisors and published reports from top-tier MBA programs, roughly 5% of full-time 2011 business school students founded their own companies right after graduation, with notable jumps at places like Wharton, Stanford and MIT-Sloan. That's up from around 3% in 2010, and those figures don't count MBAs who join startups as early employees or found companies in the months following graduation.

Top programs are rallying to establish ways to attract MBA-entrepreneurs, says Rhett Weiss, a veteran entrepreneur who heads up the Entrepreneurship and Innovation Institute at Cornell University's Johnson School of Management. "Maybe we're all drinking the same Kool-Aid, but it's good for us and good for our stakeholders if we understand entrepreneurship and how to promote it," he says.

At Wharton, "We've definitely seen an increase" in interest in entrepreneurship, says Maria Halpern, Director of Student Engagement for the school's career management services. Nowadays, dedicated entrepreneur initiatives are common among top programs, a reflection of increasing need among MBA students.

Even with added institutional support, turning an MBA into a startup means ignoring a common piece of advice offered by many MBA programs‘ career-services departments: Get a high-paying job and postpone the entrepreneurial dream until your loans are paid off.

"Quite frankly, we do encourage students in general to learn on someone else's nickel before taking the plunge," says Janet Strimaitis, managing director of the Arthur M. Blank Center for Entrepreneurship at Babson College.

That advice, says Omar Seyal, a 2011 Wharton graduate and founder of near-field communications startup Tagstand, runs "against pretty much everything I would think."

"That advice is traditional," says Mr. Ekeji. "And perhaps pragmatic in a way. But I actually believe that if the only thing keeping you from starting a company is paying off your student loans, then you should start your company." Many students have already sacrificed two years' salary and taken on debt to complete their programs, so why not just take that one more risk?

If career advisors sometimes act like concerned parents who try to be encouraging, established entrepreneurs can be like sarcastic older siblings. There's a belief among some outspoken entrepreneurs that an MBA is a waste of time and money, and business-school students are sometimes the butt of jokes on startup blogs and discussion forums.

Brian Spaly, a founder and CEO of Trunk Club, a men's apparel company, and 2007 Stanford MBA graduate, understands the skepticism. At a company's early stages, he says, "There's really only room for a couple people in the company that don't know what they're doing. And that's generally the MBA." There's a reason so many MBAs become consultants; they're well-rounded. What startups really need, says Mr. Spaly, is functional expertise. "Most MBAs aren't known for that."

In Silicon Valley, says Mr. Seyal, the entrepreneurial community harbors something of a cultural antipathy toward MBAs. "There's a little bit of thumbing your nose at them, and I think that's probably for the worst. … I don't particularly think there are good reasons why people are looked down upon with an MBA here."

Mr. Ekeji also disagrees with anti-MBA startup sentiment. The degree is not a waste of time, he says. Entrepreneurs can make things happen while they're still in school: "With all due respect, you can cut class."

In contrast with their reception among career advisors and other entrepreneurs, MBA-entrepreneurs say they enjoy tremendous support from their classmates, many of whom want to start their own companies but aren't quite ready.

While she was at Harvard, Katia Beauchamp's classmates would come over to her apartment to help pack boxes for her beauty-supply subscription service, Birchbox, which she co-founded classmate Hayley Barna. They were disappointed, she says, when the company had to exclude them from beta testing to get outside perspectives on what customers would actually need.

"A lot of people don't pursue a startup right away," says Mr. Spaly. Five years out of school, he says, "A lot of my classmates are saying, ‘Now I'm ready to do something more entrepreneurial.'"

Economic trends of course influence the paths of MBS students, says Joaquin Villarreal, manager of the Entrepreneurship Initiative at the Tuck School of Business. "You get your 2000 dot-com bubble, everyone wants to be an entrepreneur," says Villarreal. "That bursts and everyone wants to be a banker."

"I also think it's generational," say Ms. Halpern. It's worth noting that the millennial generation, known for an overblown sense of self-worth and propensity to dream big, has recently become enough to be MBA-eligible.

In any case, the entrepreneur MBA students still like to take risks. Davis Smith, a Wharton graduate and cofounder of Brazilian e-commerce site Baby.com.br, says that when he told his entrepreneur peers he and his partner were heading to business school, "Overwhelmingly people just didn't understand it. They thought we were crazy. As an entrepreneur you're used to that kind of reaction."

(Editing by John Peabody)

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