Saturday, August 11, 2007

Is your Boss being too friendly?

Paul Dyer was always able to hold off his boss's invitations to party by employing that arms-length response: "We'll have to do that sometime," he'd say.

But when his boss, in his 30s, invited Mr. Dyer, 24 years old, to be friends on the social-networking sites MySpace and Facebook, dodging wasn't so easy. On the one hand, accepting a person's request to be friends online grants them access to the kind of intimacy never meant for office consumption, such as recent photos of keggers and jibes from friends. ("Still wearing that lampshade?")

But declining a "friend" request from a colleague or a boss is a slight. So, Mr. Dyer accepted the invitation, then removed any inappropriate or incriminating photos of himself -- "I'd rather speak vaguely about them," he says -- and accepted the boss's invitation.

Mr. Dyer, it turns out, wasn't the one who had to be embarrassed. His boss had photos of himself attempting to imbibe two drinks at once, ostensibly, Mr. Dyer ventures, to send the message: "I'm a crazy, young party guy." The boss also wore a denim suit ("I'd never seen anything like it," Mr. Dyer says) and posed in a photo flashing a hip-hop backhand peace sign.

It was painful to watch. "I hurt for him," says Mr. Dyer.

Like email and "buddy lists" before them, social networking sites such as Facebook and MySpace provide a definition of the word "friend" so expansive that it includes perfect strangers. Yet, strangers are the easy part. It can be a lot creepier to interact intimately with someone you sort of know than someone you don't know at all.

"Nothing changes when a stranger invites you to be a friend," says Nina Singh, a market-research consultant. But when one of her clients "friended" her, she saw a semierotic photo of him topless, posed and softly lit. "When you see your client's pubic bone, something has changed."

Victor Sanchez, 54, a senior development director, was once invited to join a site and was surprised to see a photograph of a younger colleague's seahorse tattoo. "Sometimes it's good to learn things about a colleague much later -- or never at all," he says.

These networking sites assist existing social relationships, letting people easily plan events, share pictures and keep up-to-date with far-flung friends. Once they penetrate the office, however, such sites can create awkward moments, particularly with colleagues who commit the social felony of attempted hipness. Dare I say, "Whatup, homey?"

When it comes to the boss, there is a real dilemma. You're caught between a career-limiting rejection of virtual friendship or a career-limiting access to photos of yourself glassy-eyed at a party. "All these social relationships -- apples and oranges -- are getting crammed into one category of friends," says Tom Boellstorff, associate professor of anthropology at the University of California, Irvine, who is writing a book on the virtual community Second Life.

After one senior marketing coordinator at a law firm was invited by one of the lawyers to be his friend, she felt compelled to accept the invitation, even though she had no intention of socializing with him outside the office. He remarked once after an office meeting that he noticed she had a boyfriend, as listed on her online profile.

"It was strange," she says. "I was like, 'Why are you on Facebook?'"

Once "friended" by a colleague, people feel compelled to employ privacy features -- which itself can be a snub -- or to sanitize their online profiles -- which is akin to hiding something under the bed. The same marketing coordinator removed college pictures of herself doing a keg stand -- a handstand on top of a beer keg for a direct mouth-to-tap connection.

Prospective employers also seem to have no compunction conducting searches on job applicants before they call them in for interviews. "We'll Google them and I know that we've done MySpace searches," says attorney Caroline Kert of prospective hires.

She's mostly looking for slams against a former employer or exposed proprietary information. She says she'd never hold against applicants something like, say, a photo of them wearing a fur bikini. Good thing. Ms. Kert, a regular at the Burning Man Festival, has pictures of herself sporting just that on MySpace.

J.D. Lloyd, a law student working at a firm, isn't taking any chances. At 6-foot-2 and 250 pounds, he removed a photo of himself in a Florida Marlins baseball jersey that was a mere "youth large." "It was tight," he says. "There may or may not have been midriff in some of those pictures."

It used to be that employees were told to keep their personal lives out of work. Now, some bosses beg for it. Data analyst Valerie Jewett, 23, accepted a boss as a friend even though she likes to keep her personal and professional lives separate.

He's a nice guy, she says, but his late-30s ungrooviness was evident when he wrote a message to her on the "wall" on her homepage. The message made her roll her eyes. "What a ko-wink-i-dink to find y'all on here! Yeehaw!!"

Copyrighted, Dow Jones & Company, Inc. All rights reserved

How to Cope with the Jerk at Work

At some point in our careers, most of us are forced to work with someone whose people skills can only be described as atrocious. Sometimes our companies wisely get rid of these people, but they are like weeds. Pluck one, and within seconds another will sprout up in its place. The dread that comes with having to regularly interact with someone who is routinely negative, argumentative, stressed out, or mean can make your job a wholly unpleasant experience -- if you let it.

Your first instinct might be to go out of your way to avoid working with Mr. (or Ms.) Difficult, and if you can pull it off, more power to you. Often, though, this is not an option, and whether Mr. Difficult is your boss, a colleague, or a senior executive, you must prepare for each meeting with him like you are going into battle. Swallow your apprehension. Remind yourself that no one has the power to control how you feel and suit up your armor so that nothing he says or does wounds you deeply. Take a deep breath and walk calmly into Mr. Difficult's office. Speak to him in a controlled, cheerful, and reasonable tone. Get the information you need and get out. Negativity and stress can be highly contagious, so don't allow yourself to get sucked in.

Mr. Difficult's arrows can be easier to deflect when he's an equal opportunity shooter. You might even joke about him with your other colleagues: "Oh, you're working with Mr. Difficult on that? I'm so sorry. I hear a bunch of people are getting a hitman if you want to contribute." It's easy to become demoralized, however, when Mr. Difficult saves his best poison just for you. One of my early bosses, for example, couldn't stand me. She was sweet as apple pie to the rest of our colleagues, and to the best of my knowledge, I didn't do anything specific to incur her wrath. Inexplicably, though, whenever I came around she turned into the wicked witch of the west.

Your best bet in this type of scenario is to sit down with your Mr. Difficult and have a heart to heart. Tell him how you are feeling, assume that he doesn't mean to act like the devil incarnate, and give him the benefit of the doubt. Solicit his feedback regarding how the two of you can improve the relationship and then give him a chance to do right by you. If this doesn't work and he continues to regularly use you as target practice, remove yourself from the situation. No job is worth your self-esteem.

One caveat to all this: Human beings operate with such different styles that it's impossible for us to get along with all of our colleagues all of the time. You could be the most agreeable person on earth, but I guarantee that someone at work will find a reason not to like you. Maybe she isn't blatantly obvious or malicious like Mr. Difficult, but you can feel her negativity just the same. She might walk right past your desk without saying good morning and probably doesn't engage in friendly conversation with you the way she does with other people in the office.

For those of us with a sensitive streak, this type of behavior can be hurtful too. What did you do to her anyway? Why won't she give you a fair shot? As natural as it is to fixate on the situation, if it's not affecting your daily working life or your career path, refuse to take it personally and go about your business. Focus on your reasons for being at work and save your energy for the people in the office who deserve it.
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Alexandra Levit worked for a Fortune 500 software company and an international public relations firm before starting Inspiration @Work, an independent career consulting business. She's the author of They Don't Teach Corporate in College: A Twenty-Something's Guide to the Business World (Career Press 2004)


Author Alexandra Levit
Capessa

Office Romance

These days, it seems happy hour takes place between 9 and 5. Many singles spend more waking time at work than at home, so the likelihood of office attraction is high. You know what I'm talking about -- conveniently making copies at the same time, emailing back and forth, and playing eye-tag all day long.

If you're imagining the boardroom as a bedroom, take a second to notice the red flags -- and I don't mean on your minesweeper game. While pining away at your desk, I have some helpful ways to crush with caution on the clock!

Hold your horses! Before scooping up your co-worker and riding into the sunset, you'd better make sure the coast is clear. Check to see if your company has any policies on inter-office dating you should be aware of. This way, you can preview the consequences -- if any -- and avoid that little pink slip.

If romance is in the air, someone is bound to smell it... Hiding your relationship at work might be kind of fun -- even playfully scandalous! -- but take a moment to question the real reason behind the secrecy. If you're not comfortable going public, consider whether or not you should be involved in the first place.

Between a desk and a hard place... Sneaking kisses by the snack machine seems harmless enough, but I doubt people will have much of an appetite when they catch you there. Be considerate of your co-workers by saving affection for the sidewalk. A personal attraction can dent your professionalism, and also pose a distraction for those around you. Keep interactions clean until the suit comes off -- and I mean that literally.

You can't always be a "yes" man... Be especially careful if you are a superior crushing on a subordinate. Things can get tricky, because your employee may feel too pressured not to say "no" -- and then a "yes" just doesn't seem genuine! Plus, both your reputations are suddenly at stake. Before taking the risk, you'd better have another job interview lined up -- just in case things work out well!

If dating doesn't work, keep in mind that you're still in a professional relationship -- and 8 hours a day can feel a lot longer when it's spent avoiding each other. So while an office affair might succeed, it's often more trouble than it's worth. But as you and I know, sometimes we just can't help ourselves.


Yahoo!

Saturday, July 21, 2007

Scientist: Human Origin Impossible to Pinpoint


All modern humans originated in sub-Saharan Africa, according to a new study touted by its funders as the “final blow” against an opposing viewpoint. Not so fast, says one anthropologist who finds flaws in the evidence.

Debate over the origins of modern humans has simmered among anthropologists for years, with one theory asserting that Homo sapiens migrated across the world from a single point in Africa. The other theory states that multiple populations of Homo sapiens independently evolved from Homo erectus in regions beyond Africa.

The new study, published in the July 19 issue of the journal Nature, delivers what the researchers say could be the final verdict in support of the single point "Out of Africa" theory.

“We have combined our genetic data with new measurements of a large sample of skulls to show definitively that modern humans originated from a single area in sub-Saharan Africa,” said lead researcher Andrea Manica of the University of Cambridge.

Out of Africa

Manica and colleagues took multiple measurements of more than 4,500 male fossil skulls from 105 populations around the globe. They combined the results with data from studies of global genetic variations in humans, finding that both genetic and skull variability decreased with distance from Africa. So populations in southeastern Africa held the highest variability compared with populations in other countries.

“Humans seem to have poured out of Africa, spread out across the world, but at a really quite uniform rate such that you get this lovely gradual loss of diversity,” said study team member William Amos of the University of Cambridge.

The results held even when the scientists accounted for climate, since climate conditions can lead to changes in skull features. “In very cold climates you tend to generate a slightly thicker brow ridge. Whether or not that’s to keep horrible blizzards out of your eyes, I don’t know,” Amos said.

Past studies based on skull morphology have been weak and have supported both of the human-origin views.

This study “adds a strong line of evidence to the Out of Africa [hypothesis] using such morphology,” said paleontologist Will Harcourt-Smith of the American Museum of Natural History in New York. Harcourt-Smith was not involved in the current research.

Dissenting voice

However, John Hawks of the University of Wisconsin-Madison says the paper is “mistaken.” A major flaw is that the current research is largely based on skull variability.

“You can’t find the origin of people by measuring the variability of their skulls,” Hawks told LiveScience.

Differences in skull features are related to genetics, and genetic variation depends on how much mixing occurs with other populations. “The main problem with the paper is that it takes some assumptions from genetics papers of 10 to 15 years ago that we now know are wrong,” Hawks said.

Other scenarios, besides the single-origin theory, could account for the link between distance and skull variability. “Africa is ecologically diverse, and cranial variation is a function of environments,” he said. In environments supporting hardy foods such as roots, people would need bigger jaw muscles, and thus larger areas for muscle attachments.

Also, correcting for climate is not a good idea, according to Hawks. “The most important feature that is related to climate is skull size. So by correcting for climate, they are subtracting a major component of variability," he said.


Impossible to solve?

In his own research, Hawks is finding that natural selection has led to changes in thousands of genes during only the past few thousand years.

“I’m really thinking just the opposite of this paper,” Hawks said. “There are differences in the skull between populations, including their variability, but it is mostly due to very recent effects and not the origin of modern humans.”

At the end of the day, a resolution to the "Out of Africa" debate may be impossible, he said. Most of the evidence can be interpreted as supporting both human-origins theories. “It’s really hard to find observations that distinguish the two,” Hawks said.

“The multiregional idea is identical to the recent African origin idea, except for its prediction that Europeans and Asians were part of the single population of origin and didn’t become extinct.”

Finding an answer still intrigues paleontologists. “To know the manner in which our direct ancestors evolved from earlier hominins, as well as which species died out and which didn't,” Harcourt-Smith said, “provides us with an insight into the actual process of human evolution.”

The recent study was funded by the Biotechnology and Biological Sciences Research Council (BBSRC).


Jeanna Bryner
LiveScience Staff Writer
LiveScience.com

Bundchen is world richest model

Forbes.com:

NEW YORK - Gisele Bundchen tops Forbes.com's list of the world's richest models, earning $33 million in the last 12 months.

The Brazilian supermodel strutted past the likes of Kate Moss, who came in at No.2, and Heidi Klum, who placed third on the list.

Bundchen, 26, parted ways with Victoria's Secret in May and will see her lucrative contract with the lingerie brand expire at the end of the year.

Still, she boasts "more contracts than any other model on the planet," Forbes.com said, and has appeared in campaigns for high-end brands including Apple, Dolce & Gabbana and Roberto Cavalli.

Moss, who recently launched a clothing line at British fashion retailer Topshop, ranks second with $9 million. The 33-year-old fashion icon is the new face of fashion label Stella McCartney and Italian sportswear company Belstaff.

Klum, 34, placed third with $8 million. She is a Victoria's Secret spokesmodel and host of Bravo's "Project Runway."

Two more Victoria's Secret beauties — Adriana Lima and Alessandra Ambrosio — rounded out the top five with $6 million each.

They were followed by Carolyn Murphy ($5 million); Natalia Vodianova ($4.5 million); Karolina Kurkova and Daria Werbowy (both $3.5 million); Gemma Ward ($3 million); Liya Kebede ($2.5 million); Hilary Rhoda and Shalom Harlow (both $2 million); and Doutzen Kroes and Jessica Stam (both $1.5 million).

In ranking these catwalkers, Forbes.com said editors also factored in a model's "relevancy" — determined by recent campaigns, fashion magazine covers and opinions of those in the fashion industry — where necessary. The list was posted Monday on the Web site.

11 Things Women Don't Know About Men

By Evan Marc Katz

1. Getting angry at us for not reading your mind is like getting angry at yourself for not being able to fly. It's not just futile, it's physically impossible.

2. Yes, we do think Jessica Alba is hot. Sometimes we're even dumb enough to admit it.

3. Don't ask us to understand your shoe fetish. Asking us to respect it is even sort of pushing it.

4. You do look good without makeup, just not as good as you look with it.

5. Ever notice how we don't fight with our male friends? That's why we get so frustrated when we fight with you.

6. You care what you're wearing infinitely more than we do. In fact, if you're naked when you open the front door, you won't hear an argument from us.

7. You don't like to get hit on in public, you don't want to date online and you don't want to be set up on blind dates. Tell us if sending messenger pigeons is an appropriate way of courting. Because if it is, we're all over it.

8. There should a statute of limitations on stupid things that we said that can come back to haunt us

There should a statute of limitations on stupid things that we said that can come back to haunt us. I propose 24 hours.

9. Cooking dinner for a man is like buying flowers for a woman, except it takes a lot more time, effort and thought for you to do it. Thanks. We appreciate it.

10. We actually like your girly pet-names for us, but please, not in front of the guys!

11. Just because we like looking at the women in Maxim doesn't mean we want to actually converse with the women in Maxim. Not for long, anyway.

Additional:


Your nice guy friends are the most reliable source for telling you if your new boyfriend's a jerk. And he probably is. (By the way, you might want to consider marrying that nice guy who's giving you advice about the jerk.)

Tuesday, July 17, 2007

The 10 Biggest Interview Killers

When you're on a romantic dinner date, you try to avoid "mood killers" -- talking with a mouth full of food, cursing an ex-lover, or complaining about a foot ailment. During a job interview, you have to avoid similar spoilers if you want to make a good impression.

Here are 10 of the most common "advantage killers" and how you can steer clear of them during your next job interview.

1. Not knowing your aim. Too often candidates think their purpose in an interview is simply to ask for a job. Your goals are to demonstrate how you are a good fit for the organization, and to assess whether the job is really right for you.

2. Being too needy. Neediness is probably the No. 1 advantage-killer in an interview. Remind yourself before walking in the door: you do not need this job. You do need food, you do need air, and you do need water. Keep things in perspective.

3. Lousy nonverbal communication. This is about demonstrating confidence. Your first impression makes the difference. When you enter the interview room, stand up straight, make eye contact, and offer a strong handshake with your interviewer. If necessary, jot their name on your notepad as soon as you seat yourself. Do the same for any other individual you are meeting with.

4. Compromising your position. You should always participate in the interview as an equal, not a subordinate, of the person conducting the interview. Often this is a subtle matter of self-perception, so remind yourself before the interview.

5. Falling into the answers-only rut. An interview is a conversation. Don't just answer their questions. That's why you've prepared stories to highlight your accomplishments, which will be your moments to shine. When you do answer any questions, make sure that you answer immediately and follow up with a question of your own, if at all possible.

6. Rambling. Telling your interviewer more than they need to know could be fatal. Your stories should be 60 to 90 seconds long and they should have a relevant point. Focus, focus, focus. Stick with your rehearsed stories, your research, and the questions you need to ask. Don't fill up the silence with unnecessary talk.

7. Being overly familiar. A good interviewer will be skilled enough to put you at ease within the first 10 minutes of the interview. That doesn't mean that they have become your best friend. Don't let your guard down. You're there to interview them and get answers to your questions. Treat this from start to finish as the professional business meeting that it is.

8. Making incorrect assumptions. Points are not deducted at the interview for asking questions when you don't understand something. Don't guess at what your interviewer means. Effective interviewing is all about collecting information in real time, taking good notes, and responding only to the actual facts you've collected. If you find yourself making assumptions or guessing about something that was said, stop and ask for clarification before you answer.

9. Getting emotional. At times the interviewer may hit a nerve or consciously try to provoke you into an "outburst." Don't fall for it. Clear your mind of any fears or expectations, so you can maintain a calm, open-minded perspective at all times. When emotions enter into an interview, failure follows.

10. Not asking specific questions. You want to find out more about what this job is really about and whether you want it. Arrive with a list of several prepared questions about the company, the position, and the people who work there. Ask questions that begin with "what," "how," and "why." Avoid simple yes/no questions. Get your interviewer talking as much as possible, then take notes. Most interviewers are unimpressed by someone who has no questions.

By Joe Turner Yahoo!

How to Deal With Interview Stress

To many job seekers, "stress" is synonymous with "job interview."

Job seekers stress over landing an interview. Then they stress over preparing for it. And then they stress over what to wear, what to say, if the interviewer will like them and more.

But the worst stress of all often occurs during the interview. This is the stress that can cause you to blow it. It can make you freeze, panic, chatter aimlessly, lose your train of thought or perspire profusely.

So how can job seekers keep cool when it counts? Relax. A few simple
techniques can help calm frayed nerves and sooth interview jitters.
Early Warning

Timing is everything: Don't cause yourself undue stress before a big interview.

Arrive about 10 minutes before the interview is scheduled to begin.

If you arrive too early, you'll sit and wait and worry. And if you arrive too late, you may find yourself racing in the door, your heart already pounding from a last-minute dash.

A ten-minute, pre-interview break will give you an opportunity to catch your breath and acclimate to your surroundings. It's enough time, but not too much time.

Picture This

You can make your dream a reality. Use your imagination to stay calm during a job interview.

Visualization is a relaxation technique in which you create a mental image of a stressful or challenging situation. Then you imagine yourself succeeding in the situation. By doing so, you're mentally preparing to handle the event in real life.

You can practice visualization in the days, hours or even minutes before an interview. Simply close your eyes and breathe deeply. Picture yourself greeting the interviewer confidently and answering tough questions with ease.

Practice succeeding in your imagination, and soon you'll be doing it in reality.

Relax

A relaxed job candidate is a confident job candidate.

Show the interviewer that you're calm, composed and in command during an interview. He's likely to assume that you'll be rock-solid on the job too.

Use these tips to stay relaxed during an interview:

Breathing deeply and slowly (and quietly, of course).
Sit up straight and don't cross your legs or arms.
Speak slowly and pause for breath often.
Keeps your hands and jaw relaxed; no clenching.

Smile -- it really is contagious!

Pause, Don't Panic

In every interview, there comes a moment that doesn't go according to plan. There's an awkward silence. You stumble over your words. You flub a tough question.

Don't panic. Now's the time to put your relaxation skills into overdrive.

It's much easier to control fear and panic as it starts to build than to calm yourself down once they've begun to spiral out of control.

When you feel yourself starting to panic and lose focus, pause. Tell yourself silently that you can do this. Take a deep breath. Refocus. And then resume interviewing.

A quick ten-second pause can be all you need to regain your composure and get back in control. And the interviewer likely won't even notice.

Yahoo HotJobs!

Six Common Job-Interview Questions

One of the easiest ways to build confidence before a job interview is to prepare answers to questions you might be asked. Whether you're applying for a position as a web programmer, accountant, or legal secretary, interviewers often use some general questions to assess candidates, so you'll increase your chances for success if you prepare for them in advance.

Six common questions are listed below, along with insights from several recruitment professionals about how to answer. As part of your interview preparation, take the time to formulate answers to each question, focusing on specific tasks and accomplishments.

"What are your strengths and weaknesses?"

This is one of the most well-known interview questions, and interviewers often ask it indirectly, as in, "What did your most recent boss suggest as areas for improvement in your last performance review?"

Lindsay Olson, founder of Paradigm Staffing Solutions, a firm specializing in hiring public relations professionals, suggests tailoring your "strengths" answer to skills that will benefit the prospective employer. Though you may have a knack for building gingerbread houses, it might be of little value for the job at hand.

When it comes to weaknesses, or areas of growth, Olson recommends building on your answer to include "how you have improved, and specifics on what you have done to improve yourself in those areas."

"Why did you leave your last position?"

"Interviewers will always want to know your reasoning behind leaving a company ? particularly short stints," says Olson. "Be prepared to tell the truth, without speaking negatively about past employment."

"Can you describe a previous work situation in which you ... ?"

This question comes in many forms, but what the interviewer is looking for is your behavior on the job. Your answer could focus on resolving a crisis, overcoming a negotiation deadlock, handling a problem coworker, or juggling multiple tasks on a project.

The theory behind this type of question is that past behavior is the best predictor of future behavior, according to Yves Lermusi, CEO of Checkster, a company that offers career and talent checkup tools. "The key to responding well is preparing real job examples, describing your behavior in specific situations that demonstrate important skills that the job requires."

"What is your ideal work environment?"

This question is not about whether you prefer a cubicle or an office, so think broadly to include ideas about supervision, management styles, and your workday routine.

Bob Hancock, senior recruiter for video game publisher Electronic Arts, says that he uses this question with candidates because it can give "a sense of their work habits, how flexible they are with their schedules, and how creative they are."

"How do you handle mistakes?"

The best strategy for this general question is to focus on one or two specific examples in the past and, if possible, highlight resolutions or actions that might have relevance to the job you're interviewing for.

"Employers want to know they're hiring someone with the maturity to accept responsibility and the wherewithal to remedy their own mistakes," says Debra Davenport, a master professional mentor and columnist for the Business Journal in Phoenix.

"What is your most notable accomplishment?"

Paradigm Staffing's Olson suggests that candidates think of three or four accomplishments and quantify what their actions meant in terms of increasing revenues, saving resources, or improving resources.

"Being able to quantify your achievements in your career will launch you ahead of the rest," she says, "and demonstrate your ability to do the same as a future employee."

By Tom Musbach, Yahoo!

When the New Job Is a Letdown

Starting a new job can be exciting, nerve-wracking, and even scary. Unfortunately, it can also be disappointing. Perhaps you're being asked to work too many hours. Maybe you're not receiving any training. Or, worse yet, the job you accepted doesn't look anything like the job you're actually doing.

As a new hire, what should you do when a new job isn't what you thought it would be? Use these tips to navigate the rough waters in your first weeks


1. Don't panic!

If things aren't going at all as you'd planned in your first few days or weeks in a new position, your instinct may be to hit the panic button and quit or begin a covert job search. Resist the urge to make a dramatic decision or rush to judgment. Rather, analyze what's making you feel like you've been duped. Create a document you can refer to, listing out what you were told or had expected versus what the reality of your day-to-day at a company is.

2. Speak with your supervisor.

Talent retention is an issue these days, and your manager likely doesn't want to be short-staffed. Debbi Titlebaum, the human resources director for Zingy, Inc., a mobile media company, advises opening a dialogue with a manager. She says, "Go to your boss and say, 'I've only been here for a few weeks and it's not what I was expecting. Can we talk about what my responsibilities are and how we can change them to include more of what we agreed upon?'"

If your boss is unable or unwilling to help you, you should then seek advice from human resources.

3. HR is there to help.

No one understands how difficult it is to find talented employees better than a human resources professional -- which gives you a valuable and knowledgeable ally in your plight. Titlebaum, who has worked in human resources for more than 12 years, advises, "If a job isn't exactly what you expected there can be a lot of valid reasons. If you communicate your dissatisfaction to your manager and to HR, there's probably a way to make it work."

Are long hours conflicting with child care? Ask about flex time. If you need more training, find out how you can get that. Is a position less glamorous than you thought? Ask for some additional, more compelling responsibilities.

If the position itself remains a bust despite everyone's best efforts, you may still have a future at the company. "If an employer is dealing with a good employee, they are going to want to hold onto her. Depending on the size of the company, they may be able to use her in another capacity," notes Titlebaum.

4. Move on to another opportunity.

Sometimes when a job isn't what you thought it would be, leaving may be your only option. If this is true, find another job first to avoid a gap on your resume. Also, treat your employer with respect and professional courtesy (even if you weren't treated that way) when leaving, so you don't burn any bridges.

To avoid a similar situation in the future, Titlebaum suggests that you always request a comprehensive job description before accepting an offer. "A written job description ensures that you and your supervisor know what your responsibilities will be," she says. And, be sure to ask your future manager to describe a typical workday and work week so that you have a better understanding of what your daily professional life will be like.

Caroline Levchuck, Yahoo!

Four Ways to Overcome Boredom at Work

Even if you really enjoy your job, it's still possible to battle boredom as you work your way toward the boardroom. You may not be able to make big changes -- or change your job -- but you can make small adjustments to your routine that can make every day seem, well, a little less routine.

1. Switch Your Seat
Change your outlook at the office by changing your office -- literally. Ask your supervisor to help you find a new desk, office, or cube to call home. Even switching desks with a neighboring coworker can offer a fresh perspective.

If it's not possible to change your location, see if you can change how your desk is oriented. A new perspective can be just as refreshing as a new location.

2. Change Your Commute

Start and end your day in a different way by making changes to your commute. Consider a new mode of transportation, if it's possible. Take a subway. Ride a bike on sunny days. Carpool with a coworker. Use a new route to get to your job. You needn't change your commute permanently -- just long enough to help you escape the doldrums.

3. Find a New Way to Work

Shake things up at the office by changing how things get done.

Sick of attending that long-standing Monday morning meeting? Try to rally your boss to change it to the afternoon.

If you find yourself feeling most bored in the afternoons, try to arrange to do your favorite tasks then and tackle less desirable projects in the mornings.

If you usually communicate with coworkers via email and instant messaging, start dealing with people face to face. Increased interaction with coworkers may help improve your mood.

4. Get and Set a Goal

If you're not working toward something, it's no wonder that work has become boring. Identify a goal and set an "achieve by" date for it.

Your goal needn't be lofty as long as you have sufficient enthusiasm for it. Perhaps you want to tackle a new project. Maybe you'd like to pursue a promotion. Or you may even set a goal of finding a new job altogether. Whatever it is, actively moving toward an objective will make work much more interesting

Caroline Levchuck, Yahoo!

In-Demand Jobs That Pay Well

By Robyn Tellefsen, ClassesUSA

The Bureau of Labor Statistics (BLS) has identified a number of exciting professions expected to experience above-average growth over the next decade. Most of these positions fall within the top 25 percent of earnings for workers overall, and most require a bachelor's degree or higher. Are any of these growing careers right for you?

A Career in Caring

According to the BLS, registered nurses (RNs) constitute the largest health care occupation; they were responsible for about 2.4 million jobs in 2004. RNs need at least an associate degree, while short-term or on-the-job training is generally necessary for nurse's aides.

The American Nurses Association reports that in 2006, staff nurses earned an average of $47,200. At the high end of the salary scale, advanced practice nurses averaged $69,600.

The Education Explosion

With about 1 in 4 Americans enrolled in an education institution, education services is the second largest industry in the country, accounting for about 13 million jobs. Most teaching positions require at least a bachelor's degree, and many require a master's or doctoral degree.

Secondary school teachers are expected to increase in numbers by up to 17 percent by 2014. Salaries are rising as well; the American Federation of Teachers estimates the average salary of all public elementary and secondary school teachers in the 2003-2004 school year was $46,597. Postsecondary teaching positions are expected to grow 27 percent or more by 2014; in 2004, postsecondary teachers had median annual earnings of $51,800.

Accounting for Growth

With projected growth in accountant positions between 18 and 26 percent by 2014, it's no surprise that the American Institute of CPAs cites accounting graduates are up 19 percent since 2000.

And accountants are well compensated. According to a salary survey conducted by the National Association of Colleges and Employers, bachelor's degree candidates in accounting received starting offers averaging $43,269 in 2005; master's degree candidates in accounting were initially offered $46,251.

The Rebound of Information Technology

The technology industry continues to grow, as most fields are in need of skilled information technology (IT) workers. "The New York Times cites a labor department listing of the 15 fastest-growing jobs for the decade, and a total of 10 are in IT," says Dr. Susan Merritt, dean of the School of Computer Science and Information Systems at Pace University (New York, NY). These include computer systems analysts, software engineering, application development, network design, and computer support.

Median annual earnings of computer systems analysts were $66,460 in 2004, and the highest 10 percent earned more than $99,180.

Corporate Leaders of Tomorrow

It is natural for an aspiring professional to want to be at the head of the boardroom, and not only because these positions are projected to increase up to 17 percent through 2014. Executives at the top of their field are among the highest-paid workers, according to the BLS Occupational Outlook Handbook.

An MBA can take you to the top of the corporate ladder, which involves long hours, extensive travel, and intense pressure. However, salaries are often commensurate with such hard work, experience, and education attainment.

Copyright 2007 ClassesUSA.com

US tech trade deficit tops $102B in '06

The U.S. technology industry imported more computers, high-tech components and consumer electronics in 2006 than it exported, resulting in a record $102 billion trade deficit in the sector, according to a new report due out Tuesday.

Total tech imports hit $322 billion in 2006, up 9 percent from the prior year, according to the report from the tech industry's largest trade group, AeA. The U.S. imported more high-tech goods from China than any other nation.

But the import numbers don't tell the whole picture. Many American companies, such as semiconductor giant Intel Corp., design and test their chips in the United States, but manufacture them in their plants overseas and then import them. Just how many of these "intracompany transfers" make up the overall import figure can't be discerned from government data, according to AeA.

U.S. high-tech exports have increased over the past four years, although they're still running below the dot-com bubble record of $223 billion set in 2000, according to the report from the AeA, which includes Hewlett-Packard Co., Microsoft Corp. and Dell Inc. among its 2,500 members.

High-tech exports — mostly semiconductors, computers and related equipment and industrial electronics — totaled $220 billion last year, about 10 percent higher than in 2005.

That accounted for about 21 percent of all U.S. exports last year, said AeA, which used international trade data for 2006 compiled by the U.S. Census Bureau.

California topped a 50-state ranking of the biggest tech exporters that included the District of Columbia and Puerto Rico, according to the report, called "Trade in the Cyberstates 2007."

Accounting for 24 percent of U.S. tech exports, California shipped about $51.8 billion worth of high-tech merchandise abroad. Texas was second with $38.6 billion, followed by Florida, Massachusetts and New York.

Florida's ranking shows that it's become a hub for Latin American exports, said Matthew Kazmierczak, AeA's vice president of research and industry analysis. He added that high-tech exports are vital to the economies of several other states, such as Vermont, New Mexico and Idaho. High-tech accounted for 70 percent or more of all exports in those three states.

Nationwide, the tech industry employs about 684,000 workers whose jobs are tied to exports. Total tech employment is estimated at 5.2 million jobs.

Some of those jobs could be at risk if the tech trade deficit, which has doubled since 2000, continues to widen as expected, Kazmierczak said. He argued that the federal government needs to do a better job of protecting U.S. intellectual property overseas and opening up foreign markets now inaccessible to U.S. companies.

Robert Atkinson, president of the Information Technology and Innovation Foundation, a public policy think tank, said the trade deficit has grown partly because countries such as China and India have implemented high tariffs that weaken demand for American high-tech products.

"This report is a wake-up call that should shed light on the significant unfair trade practices other countries are engaged in," he said.

DIBYA SARKAR, AP Business Writer

Oil Passes $75 a Barrel, Then Falls Back

Oil Prices Touch $75 a Barrel, While Gold Notches Gains and Copper Falls

NEW YORK (AP) -- A barrel of crude oil tipped over $75 a barrel to an 11-month high on Tuesday, then gave up its gains as some traders took profits and gasoline futures fell back.
Relatively robust energy prices and a weak dollar helped float gold higher.

Oil prices that had already risen recently on world political concerns and U.S. supply questions rose further Tuesday, moving as high as $75.35 amid speculative buying, analysts said. Crude is at its highest levels since August 2006.

"I think it was too much too soon," said Phil Flynn of Chicago's Alaron Trading Corp. He said some traders may be pocketing profits ahead of the closely watched weekly petroleum inventories report, which is due out Wednesday from the Energy Information Administration.

Analysts expect to see an increase in refinery usage in this week's inventory report, according to a poll by Dow Jones Newswires. That would lead to a draw on crude stocks and a rise in gasoline output.

Light, sweet crude for August delivery was quoted at $73.77, down 38 cents in midday trading on the New York Mercantile Exchange but fluctuating between gains and losses. Gasoline futures edged down 3.02 cents to $2.096 a gallon. August heating oil fell a fraction of a cent to $2.05 a gallon.

Elsewhere, gold made gains as the U.S. dollar slipped against the euro, yen and other world currencies. Gold often moves opposite the dollar, as investors seek safer havens in which to invest their money. August gold added $1.10 to $667.40 an ounce on the New York Mercantile Exchange.

Silver rose 4 cents to $13.105 an ounce on Nymex.

Copper prices lost ground as some strike action seemed to dissipate, and the London Metal Exchange posted a second day of inventory injections. Nymex copper for September delivery fell 1.55 cents to $3.5465 a pound.

Nickel prices also weakened, while lead, zinc and tin prices ticked higher.

"No immediate end is in sight to nickels downward price spiral and further weakness is signaled by the poor state of stainless steel markets," UBS analyst Robin Bhar wrote in a report.

The Federal Reserve reported Tuesday that U.S. factories, mines and utilities increased output by the largest margin since February. The 0.5 percent rise met expectations and was evidence that the nation's manufacturing industry is ramping up production after sharp cutbacks last winter.

In Chicago, corn and soybeans retreated further after a Monday that saw futures for both slide to the daily limit of 20 cents and 50 cents, respectively. Rains crossed the U.S. Midwest and were expected to shower the corn crop with the moisture needed during its crucial pollination period.

December corn shed 6 cents to $3.425 a bushel, while November soybeans dipped 2.24 to $8.965 a bushel.

Wheat prices jumped on strong export demand, said DTN analyst Gary Wilhelmi. September wheat rose 15.75 cents to $6.17 a bushel.

Lauren Villagran, AP Business Writer

Sony to phase out $500 PlayStation 3

SAN FRANCISCO (Reuters) - Sony Corp. (6758.T) plans to phase out the cut-priced $499 model of its PlayStation 3 video game machine, leaving only a higher capacity $599 model for sale in the United States, the company said on Monday

The revelation undid some of the praise Sony won from the gaming industry last week for its 17 percent price cut on the machine, a move seen as leveling the playing field with Microsoft Corp.'s (Nasdaq:MSFT - news) Xbox 360 console.

But one analyst said Sony had left the door open to further price cuts, saying another would almost certainly happen when the cheaper PlayStation 3 sells out.

Sony dropped the price on the PS3, which comes with a 60-gigabyte hard drive and high-definition Blu-ray DVD player, by $100 last week in a bid to boost sales of the console by passing on lower costs onto consumers.

It also said it would launch a new model featuring a hard drive with 33 percent more capacity -- 80 gigabytes -- and a copy of its off-road racing game "MotorStorm" in August.

A company spokesman said Sony would sell the $500 version until "supplies of that unit are depleted," estimated to be months after the August debut of the new, pricier model.

"We have ample inventory to meet the immediate needs of consumers in this territory for several months to come," Dave Karraker said in an e-mailed response to questions.

"We won't be making any further announcements regarding our PS3 model hardware strategy in North America until the 60GB model is exhausted and market conditions are evaluated," Karraker said.

The statement confirmed remarks by David Reeves, president of Sony Computer Entertainment Europe, carried last week on gaming news Web site GamesIndustry.biz saying the 60-gigabyte model would be discontinued.

Gaming circles voiced disappointment in the development with popular blog Joystiq.com saying it amounted to more of a "clearance sale" than an actual price cut.

Wedbush Morgan analyst Michael Pachter said in a research note that Sony had an estimated 2 million to 3 million 60-gigabyte models in inventory and that once they were sold out, it would lower the price on the 80-gigabyte version.

"Although we think that Sony's public relations gaffe was unfortunate, we do not believe that the company has ill intent, and we expect the $499 price point to be maintained until early next year, when the 80GB model will likely by cut again to $399," Pachter said.

The PS3 lags the Xbox and Nintendo Co. Ltd.'s (7974.OS) Wii console in sales. The Xbox, which launched in November 2005, has sold 5.6 million units in the United States through May of this year.

The $250 Wii, with its unique motion-sensing controller, has become a surprise hit, selling 2.8 million units in just seven months after its November 2006 launch, compared to the PS3's 1.4 million units in that time.

Microsoft's Xbox 360 comes in three models priced from $300 to $480. The most expensive model, the Elite, comes with a 120-gigabyte hard drive but lacks the PS3's high-definition DVD player, built-in wireless technology and bundled game

By Scott Hillis

Microsoft copy protection cracked again

SEATTLE - Microsoft Corp. is once again on the defensive against hackers after the launch of a new program that gives average PC users tools to unlock copy-protected digital music and movies
The latest version of the FairUse4M program, which can crack Microsoft's digital rights management system for Windows Media audio and video files, was published online late Friday. In the past year, Microsoft plugged holes exploited by two earlier versions of the program and filed a federal lawsuit against its anonymous authors. Microsoft dropped the lawsuit after failing to identify them.

The third version of FairUse4M has a simple drag-and-drop interface. PC users can turn the protected music files they bought online — either a la carte or as part of a subscription service like Napster — and turn them into DRM-free tunes that can be copied and shared at will, or turned into MP3 files that can play on any type of digital music player.

"We knew at the start that no digital rights management technology is going to be impervious to circumvention," said Jonathan Usher, a director in Microsoft's consumer media technology group, in a phone interview.

Usher said Microsoft employs a full-time team to combat such breaches, and that the Windows Media DRM system was designed to be quickly modified to shut down this type of attack.

He did not say how many songs have been stripped of copy protection, or how long it will take for Microsoft to combat the hack again. But the music industry is aware of the nature of Microsoft's technology, he said, and added that he does not expect record labels to lose patience with the process.

The Recording Industry Association of America, a trade group, declined to comment.

While Usher said Microsoft will remain committed to copy protection, attitudes around the industry are starting to shift.

Apple Inc. has modified its own online store, iTunes, to block similar efforts to break its FairPlay copy protection scheme. But Apple's chief, Steve Jobs, started calling for an end to digital music-locking earlier this year.

"There are many smart people in the world, some with a lot of time on their hands, who love to discover such secrets and publish a way for everyone to get free (and stolen) music," Jobs wrote in an online essay in February. "They are often successful in doing just that, so any company trying to protect content using a DRM must frequently update it with new and harder to discover secrets. It is a cat-and-mouse game."

Apple's iTunes store started selling DRM-free music from EMI Group PLC's catalog in May. The same month, Web retailer Amazon.com Inc. said its much-anticipated digital music store will sell tracks in the unprotected MP3 format.

Josh Bernoff, an industry analyst at Forrester Research, said he expects music DRM to fade out in the next couple of years as record companies begin to realize selling unprotected tracks online won't hurt sales. After all, Bernoff said, the same tracks are already circulating unprotected, copied from CDs and on file-sharing networks.

By JESSICA MINTZ, AP Business Writer

VoIP provider SunRocket Shuts down

WASHINGTON - Internet phone service provider SunRocket, which had as many as 200,000 customers nationwide, has ceased operations without warning

The move by SunRocket, which offered service via Voice over Internet Protocol, or VoIP, was first reported Monday on The New York Times' Web site.

It was confirmed by Martin Pinchinson, a spokesman for Sherwood Partners LLC of Palo Alto, Calif., who said in an e-mail to The Associated Press that the financial consulting company was handling SunRocket's liquidation.

A message left at SunRocket's Vienna, Va., headquarters was not immediately returned. The privately held company's Web site was still up Monday night. But SunRocket's customer service line offered callers a brief recording: "We are no longer taking customer service or sales calls. Goodbye."

SunRocket laid off almost 200 employees at its Springfield, Mo., call center Monday, The Springfield News-Leader reported.

The company also laid off what its chief marketing officer called "a significant number" of employees July 3, five days after the firings of two top executives, Chief Technology Officer Mark Fedor and Chief Information Officer Robert Kramer. The company's chief financial officer, David Samuels, resigned July 2.

Some people identifying themselves as SunRocket customers on Internet discussion boards were complaining about outages Monday, while others said their service was working. The company has been known to have periodic outages in the past.

SunRocket, which started in 1994, was one of the first companies to offer Internet phone technology, and reported about 200,000 customers as of April, second only to Vonage Holdings Corp. as a stand-alone VoIP provider.

Tevez medical at Man Utd in doubt


Manchester United's plan to give Carlos Tevez a medical on Wednesday has been derailed after West Ham refused to give permission for it to go ahead.
Tevez flew in to Manchester on Tuesday but West Ham released a statement saying: "No agreement has been reached in relation to Carlos Tevez."

Under Premier League rules, one club is not allowed to give a player a medical unless his current club agree.

West Ham insist they are still waiting to receive an offer for Tevez.


The reported £30m deal initially stalled as the Premier League said it must be done between Manchester United and West Ham, but not Kia Joorabchian of MSI who owns the 23-year-old's economic rights.

Tevez flew into Manchester on Tuesday after finishing on the losing side in Sunday's Copa America final with Argentina, while Manchester United are on a pre-season tour in Japan.

United's legal expert Watkins has remained in England as efforts to resolve the dispute intensify.

Five Live's Gordon Farquhar said: "Despite a day of talks led by chairman Eggert Magnusson for the Hammers and Maurice Watkins for United, there is no deal and West Ham clearly aren't going to be railroaded into this.

"They have refused a written transfer request, are asserting their rights over the player and are going to insist on this being a transfer between two clubs and not with a third party, the MSI group, whatever their claims over economic rights to the player may be."

It is the latest twist in a transfer saga that United chief executive David Gill described as "over-complicated" on Monday.

The Premier League has insisted West Ham, who hold Tevez's registration, must receive the majority of the fee rather than Joorabchian.

Last week, a Premier League spokesman said: "Any deal for Carlos Tevez has to be done directly with West Ham United.

"They hold the registration and we will not transfer the registration unless a deal is done directly with the club."

West Ham were only allowed to keep playing Tevez last season after assuring the Premier League all third-party clauses in the player's contract had been severed.

But Joorabchian was confident last week that he had a sound legal footing to push through the transfer.

"We don't see any problems. I spoke to United on Thursday and they are confident they will have him registered within days," said Joorabchian.

"Carlos will come on Tuesday, have a medical on Wednesday at United and hopefully we will have administrative issues sorted next week.

"Personal terms between Carlos and United have been agreed in full. He feels confident now he is a Manchester United player."

BBC Sports

Saturday, July 14, 2007

Counting on commodities as an investment

If only we’d had the foresight to stock up on lead. With just a few hundred tons of it we’d be sitting pretty today.

That’s right, the stuff of bullets and batteries. Lead prices have soared nearly 60 percent this year, due to increasing demand worldwide and production difficulties in China, the largest producer.

Lead is just one of a vast array of commodities that have done well in recent years. Corn is up nearly 70 percent in the past 12 months, largely due to its growing use to make ethanol for fuel. Soybeans are up nearly 40 percent in the past year. And so on.

The Dow Jones-AIG Commodity Index, though relatively flat recently, has produced average annual returns of about 9 percent over the past decade. It is composed of 19 commodities, from aluminum to cotton and natural gas to zinc.

Should small investors try to get in on the commodities boom?

Many are, using a battery of products that relieve you of the need to own a grain silo, warehouse or cattle ranch. Commodities investing gets easier by the day, it seems, with new mutual funds and exchange-traded funds that are a lot simpler to handle than futures contracts.

Still, commodities are not for the faint hearted. At the moment, the overarching question is: Is it too late? Anytime an investment has had a big run-up, as commodities have over the past few years, a new investor risks buying at the peak and losing money when prices pull back.

That said, many experts do believe that commodities deserve a place in the small investor’s long-term portfolio — generally no more than 5 to 10 percent.

Commodity prices are notoriously fickle, as they are driven by international forces that are devilishly hard to fathom. They are influenced by everything from rainfall to environmental and health issues to international relations.

Right now, for example, oil prices are being buoyed by a workers’ strike in Nigeria and Iran’s soured relations with the West.

But there’s a good side to this. Because the factors driving commodity prices are different from those governing stock prices, commodities often rise when stocks fall, and vice versa. That makes commodities a good way to diversify a portfolio, or spread out risk.

A recent study by finance professors Gary Gorton of the Wharton School and K. Geert Rouwenhorst of Yale found that a basket containing 40 commodities would have returned an average of 10 percent a year from 1959 through 2004, about the same as the Standard & Poor’s 500 index of large-company stocks. Commodities tended to do well when stocks were sagging, the professors found, because commodities benefit when inflation is high, while inflation hurts stocks.

So how do you invest in commodities?

The purest way is through futures contracts. These are standardized agreements to buy or sell fixed amounts of given commodities at a set price on a future date. A contract for pork bellies, for example, calls for the purchase or sale of 40,000 pounds of bacon.

If you invested in a contract to buy pork bellies, you would hope for bacon prices to rise, driving up the value of your contract. By investing this way, you would not have to take delivery of all that bacon. You would simply buy and sell the contracts.

But this is tricky. Because a futures contract expires on a set date, you can’t simply wait out a downturn as you can with stocks. Futures trading is done through a “futures commission merchant” or FCM, which is similar to a stock broker. You can find them with your search engine, but first read the cautions listed by the U.S. Commodities Futures Trading Commission.

If you want to dabble in futures, start small and avoid leverage, which means borrowing from the FCM the bulk of the money you invest. It can supercharge your gains – or wipe you out if you bet wrong.

Another approach is to hire a Commodity Trading Advisor, or CTA, an expert who will trade futures on your behalf, or to use a Commodity Pool Operator or CPO, who will pool your money with that from other investors, who will share the profits or losses. Bone up on this industry through the National Futures Association Web site.

The simplest way to invest in commodities, and probably the best for small investors, is to pick a commodities mutual fund.

One of the best known is the PIMCO CommodityRealReuturn Strategy Fund, designed to track the Dow Jones-AIG index. It’s up about 5 percent this year, while S&P 500 funds are up more than 8 percent

Another is the Oppenheimer Commodity Strategy Total Return Fund, which tracks the energy-heavy Goldman Sachs Commodity Index and is up about 3 percent this year.

Check out these and other commodity funds at the Web site of market-data firm Morningstar Inc. Key either of those ticker symbols into the Similar Funds function under the Tools button and you’ll generate a list of nearly 40 commodities funds. Be sure to read Morningstar’s analysts reports for a discussion of risks before investing, and watch out for high “loads” or sales commissions.

There also are a growing number of exchange-traded funds tracking commodities. The best known is the PowerShares DB Commodity Index Tracking Fund, which follows the Deutsche Bank Commodity Index, composed of crude oil, heating oil, aluminum, gold, corn, and wheat. It’s up about 4 percent his year.

A similar product is the exchange-traded note, such as the iPath Dow Jones-AIG Index Tracking ETN, a product of Barclays Bank, which promises to match the return on the Dow Jones-AIG Commodity Index, less a 0.75 percent annual fee.

This and other ETFs and ETNs can be purchased through a broker, just like any stock. On the Morningstar site, go to the ETF screening function under the ETF button and run screens for natural resources and precious metals funds. You’ll have to sift the results to find ETFs that invest directly in commodities, typically through futures contracts, rather than funds that buy stocks in natural resources or mining companies.


On the other hand, those stocks-based ETFs are not a bad idea. A fund containing oil-company stocks is likely to mirror the rise and fall of oil prices, for example. (By the way, there is a class of stock-like products called Master Limited Partnerships that invest in commodities infrastructure such as oil and gas pipelines. Examples are Kinder Morgan and Enterprise Products. They’re worth a look)

Whatever approach you choose for commodities investing, start small. Commodities are volatile. And once again, it’s always risky to jump into an investment after it’s had a big run-up.

By Jeff Brown
MSNBC contributor
© 2007 MSNBC Interactive

Five tips for young investors

You’re a twentysomething, just out of school or a few years into working life. It’s time to start some serious investing.

That’s because time is the investor’s best friend, and you have plenty of it — perhaps two decades to save for a child’s college costs, and probably four decades to build a nest egg for retirement.

I know — retirement seems eons away. And thinking about it makes you feel so settled and middle-aged.

But look at it this way: If you invest a little each month starting now, you won’t have to invest as much as you would if you were to wait another 10 or 20 years to get going.

Imagine, for example, that you want to have $1 million by the time you retire in 40 years. That would be enough to provide an annual retirement income of $40,000 for the rest of your life.

But in fact, you’ll need $3.26 million, because if inflation averages 3 percent a year, that's how much it will take to buy what $1 million buys today. The $3.26 million should produce an annual income of $130,000 — equal to $40,000 in 2007.

Start investing now and earn an average annual return of 10 percent — ambitious, but possible — and you’d have to invest about $7,400 a year to get to $3.26 million in 40 years. But if you wait 10 years to start investing you’ll have to set aside nearly $20,000 a year.

Start early with whatever you can afford. It will make life much easier later.

So what are the key things to know as you launch a long-term investing plan? Here are five tips:

Stocks, stocks, stocks
Stocks are riskier than bonds or bank savings, so in any given year you could lose money. But overall, the stock market doesn’t often lose money over periods longer than five years, because there are fewer losing years than winning ones.

Over long periods, returns in the stock market have averaged about 10 percent a year, while bonds earn a little over 5 percent. Cash, such as bank accounts or money market funds, averages about 3 percent

Look at mutual funds
Though the stock market offers good returns over time, many individual stocks lose money and never recover.

You would need at least 20 or 30 different stocks to safely “diversify” your money — spread it around to reduce risk. To find them you might have to read prospectuses, annual reports and news accounts on 200 or 300 stocks. Even if you know enough to do this — and most individual investors don’t — it’s an enormous amount of work.

Fortunately, we have mutual funds, which are investment pools run by professionals. Even if you have just a few thousand dollars to invest, with a single fund you can spread your money among dozens of stocks, sometimes hundreds. For a small fee, the fund manager does all the hard stock picking. One of the best place to research mutual funds is at Morningstar. Other financial Web sites like Yahoo Finance and Microsoft's MSN Money offer tools to evaluate mutual funds. (MSNBC.com is a Microsoft-NBC Universal joint venture.)

Focus on fees
The average stock-owning mutual fund charges investors annual fees equal to about 1.3 percent of assets — $1.30 for every $100 in your account. That little bit adds up. If your fund held stocks that returned 10 percent, the fee would cut your fund’s return to 8.7 percent. Instead of making $10 for every $100 invested, you’d make $8.70. You’d take a 13 percent pay cut.

Suppose you invested $1,000 today in a fund that earned 8.7 percent once fees were figured in. You’d end up with about $28,000 after 40 years. Now suppose you can find a fund owning the same stocks but charging only 0.2 percent. Your $1,000 will grow to about $43,000.

It’s an enormous difference. That’s why millions of investors turn to index-weighted funds that charge 0.2 percent or less. Instead of trying to find hot stocks, they simply buy and hold the stocks in a broad market index. The most popular track the Standard & Poor’s 500, which invests in the 500 largest U.S. companies, but there are many others.

Many studies have shown that index funds actually beat most “managed” funds over time, because most fund managers can’t successfully pick enough winners to overcome the damage from their high fees. Index funds also tend to produce lower annual tax bills. And because their investing strategy is essentially automated, you don’t have to worry that your fund manager will quit or retire

Minimize taxes
Since taxes chew away at returns the same way fees do, savvy investors use a variety of tax strategies.

The best options are the 401(k) or similar retirement plans offered by millions of employers. Your contributions are subtracted from your taxable income. In other words, if you put in $1,000 you’ll save $150 in federal income tax up front, assuming a 15 percent tax bracket.

Also, there’s no annual tax on investment profits, meaning money that otherwise would be used to pay taxes can instead keep growing as an investment. Taxes are paid when money is withdrawn in retirement.

Stick with it
Investing in stocks is a long-term strategy, not something you do with next month’s rent money. If you can weather the downturns you should be pleased with the results.

But remember, when you hear that stocks have returned an average of 10 percent a year, it refers to investments that were left alone, with all dividends and other earnings reinvested. If you make 15 or 20 percent one year, leave it all in the account to continue growing. Don’t take out the “extra” earnings to spend, because they’re needed to offset the years when you make less than 10 percent.

By Jeff Brown
MSNBC contributor
© 2007 MSNBC Interactive

Saturday, July 7, 2007

Bill Gate no longer World richest.


Mexican telecom tycoon, Carlos Slim Helu has overtaken Microsoft founder Bill Gates as the richest person on the planet, the Mexican financial website Sentido Comun has reported.
Sentido Comun said the Mexican billionaire's wealth had rocketed past Gates following the red-hot performance of his telecommunications firm, America Movil.


US-based Forbes magazine, renowned for its rankings of the world's wealthiest individuals, updated its listings in April to rank Slim as the second richest individual in the world, as he beat the legendary US investor Warren Buffett.

The Mexican financial website said Slim's lead over Gates amounted to billions of dollars.
"Thanks to a 26.5 per cent rise in the shares of America Movil during the second quarter. Slim, who controls a 33-percent interest in Latin America's largest mobile phone company, is substantially richer than Gates," Sentido Comun said.

"The difference between their two fortunes is around nine billion dollars in favor of Slim," the financial website claimed.
It said it had based its calculations largely on the share price movements of companies controlled by Slim.
The website said soaring performances from Slim's other business interests had also helped propel him past Gates.
Aside from America Movil, Slim controls the INBURSA financial group and the Grupo Carso industrial firm with interests spanning retail stores, coffee shops and restaurants.

One reason for Slim's meteoric rise might be because he is still working.
Gates stepped aside as Microsoft chief in 2000 to devote his energies to the philanthropic foundation he runs with his wife, Melinda.

Forbes in April had pegged Slim's wealth at a staggering 53.1 billion dollars, and said Gates was sitting on a 56-billion-dollar fortune.

Slim, the son of Lebanese immigrants, has had business in his blood from his early days when he helped out in his father's shop, "The Star of the Orient."
The 67-year-old started out in real estate and was already affluent enough when he graduated from university with an engineering degree to buy stakes in a stock brokerage and a bottling firm.

During the crippling Latin American economic crisis of the early 1980s, Slim snapped up and reformed a number of distressed businesses, banking massive profits for Grupo Carso.

Carso gained its name from the first three letters of Slim's name and the first two of his late wife's, Soumaya Gemayel.
Analysts say one of Slim's smartest and most lucrative deals occurred when he took control of Telefonos de Mexico (Telemex) in 1990 as the then government moved to privatize the sprawling monopoly.

Slim oversaw a 1.8-billion-dollar investment to take over Telemex, but he then overhauled the company and expanded its service as the telecom firm became the star of the Mexican stock exchange and more than returned Slim's initial investment.

The Mexican billionaire has also made some savvy stock picks.
In 1997, he bought about three percent of Apple Computer at 17 dollars a share shortly before the company launched its hit iMac computer. Twelve months later, Apple's shares topped 100 dollars.

Despite his vast riches, Slim reportedly shuns corporate jets and flashy offices and sported a plastic watch during the 1990s.
Widowed in 1999, Slim has boosted his philanthropic presence and overseen his three sons' careers within his business empire.
Like Gates, he has developed a strong profile on the philanthropic front.

Earlier this month he allied himself with the foundation of former US president Bill Clinton and with Canadian mining magnate Frank Giustra to launch an anti-poverty campaign in Latin America.

Fifty-three percent of Mexico's population of 104 million live in poverty, which is defined as living on less than two dollars a day, World Bank data show.

Thursday, July 5, 2007

American named hot dog eating champion


NEW YORK - In a gut-busting showdown that combined drama, daring and indigestion, Joey Chestnut emerged Wednesday as the world's hot dog eating champion, knocking off six-time winner Takeru Kobayashi in a record-setting yet repulsive triumph.

Chestnut, the great red, white and blue hope in the annual Fourth of July competition, broke his own world record by inhaling 66 hot dogs in 12 minutes — a staggering one every 10.9 seconds before a screaming crowd in Coney Island.

"If I needed to eat another one right now, I could," the 23-year-old Californian said after receiving the mustard yellow belt emblematic of hot dog eating supremacy.

Kobayashi, the Japanese eating machine, recently had a wisdom tooth extracted and received chiropractic treatment due to a sore jaw. But the winner of every Nathan's hot dog competition from 2001 to 2006 showed no ill effects as he stayed with Chestnut frank-for-frank until the very end of the 12-minute competition.

Once the contest ended, the runner-up suffered a reversal — competitive eating-speak for barfing — leading to a deduction from his final total. Kobayashi finished with 63 HDBs (hot dogs and buns eaten) in his best performance ever.

Competitors receive credit for anything in their mouths at the 12-minute mark, provided they can swallow it.

"Obviously, the last bit exited his mouth quite dramatically," said Rich Shea of the International Federation of Competitive Eating. Kobayashi's gastric distress was the only sour note in the tube-steak tussle, which aired nationally on ESPN.

Kobayashi's previous best was 53 1/2 in the competition that dates back to 1916. The all-time record before Wednesday's remarkable contest was Chestnut's 59 1/2, set just last month in the Phoenix suburb of Tempe.

The two gastric gladiators quickly distanced themselves from the rest of the 17 competitors, processing more beef than a slaughterhouse within the first few minutes. The two had each downed 60 hot dogs with 60 seconds to go when Chestnut — the veins on his forehead extended — put away the final franks to end Kobayashi's reign.

Kobayashi, through a translator, promised to return for the 2008 event.

The victory by the San Jose, Calif., resident ended Japan's long dominance of the contest. The only previous non-Japanese winner since 1996 was New Jersey's Steve Keiner in 1999. Third place this year went to another American, Patrick Bertoletti of Chicago, with 49.

"This title's been held by Kobayashi for six years, so it's about time it came home," said Chestnut, holding an American flag in his arms. "I knew going into this contest that Kobayashi was going to give 100 percent."

By LARRY McSHANE, Associated Press Writer

Chinese villagers eat dinosaur bones


BEIJING - Villagers in central China dug up a ton of dinosaur bones and boiled them in soup or ground them into powder for traditional medicine, believing they were from flying dragons and had healing powers.

Until last year, the fossils were being sold in Henan province as "dragon bones" at about 4 yuan (50 cents) per kilogram (2.2 pounds), scientist Dong Zhiming told The Associated Press on Wednesday.

Dong, a professor with the Institute of Vertebrate Paleontology and Paleoanthropology of the Chinese Academy of Sciences, said when the villagers found out the bones were from dinosaurs they donated 200 kilograms (440 pounds) to him and his colleagues for research.

"They had believed that the 'dragon bones' were from the dragons flying in the sky," he said.

The calcium-rich bones were sometimes boiled with other ingredients and fed to children as a treatment for dizziness and leg cramps. Other times they were ground up and made into a paste that was applied directly to fractures and other injuries, he said.

The practice had been going on for at least two decades, he said.

Dong was among a team of scientists who recently excavated in Henan's Ruyang County an 60-foot-long plant-eating dinosaur, which lived 85 million to 100 million years ago. Local officials held a news conference Tuesday, showing off the find to the public for the first time.

Another two dinosaur fossils were being excavated in the area, which is rich in fossilized dinosaur eggs, Dong said.


Thursday, June 28, 2007

Should you go for iPhone?


NEW YORK - The most eagerly awaited cell phone ever is upon us Friday. Should you resist the iPhone's breathless hype, or take the plunge? Unless you're already standing in line outside an Apple or AT&T store, or are prepared to mug one of the first customers to come out after the 6 p.m. launch, the answer, at least for now, will have to be "let me think about it for a week or two."


The level of hype and demand for Apple Inc.'s phone is reminiscent of the debut of the PlayStation 3 game console in November, when minor riots broke out at some electronics stores. However, eBay prices for resold PS3s quickly fell, and two months later the console was in ample supply.

Apparently, much of the initial demand came from people who weren't really interested in getting them for themselves, but counted on being able to sell them to people who were.

It's quite possible that the iPhone will be subject to the same demand bubble. Check with the stores a month from now: If they have iPhones in stock, the bloom may be off the rose.

Hype aside, the iPhone is a radical design, a sliver of a device with a 3.5-inch glass screen and very few buttons. The iPhone differs by being designed to be touched with the fingertips rather than a stylus, making it a greater departure from the PC experience. (There have been several expensive phones with large touch screens before, generally using Windows Mobile software.)

The iPhone does e-mail, Web browsing, music and videos. It comes in two models — $499 for a 4-gigabyte version and $599 for 8 gigabytes of memory — and requires a two-year contract with AT&T Inc.

That's the basics. Here's a breakdown of who might want to consider an iPhone and who shouldn't:

• The music listener — Possibly. The big screen will make it easy to navigate a large music collection. A feature called Cover Flow shows your album covers like they're pages of an open book. However, the storage capacity is smaller than today's full-size iPods. The 4-gigabyte version fits about 800 songs, the 8-gigabyte version 1,800. The memory is not upgradable or expandable with external cards, so the 8-gig version is probably the one to get. Apple puts the battery life at 24 hours of audio playback, which is good.

• The video watcher — Sure, get one. The screen is twice as large as that of the video iPod, and the resolution, at 320 pixels by 480 pixels, is twice as high. The smaller memory capacity is going to mean frequent syncing with a computer, but the bigger screen will make it worth it. Definitely get the 8-gigabyte version, which will fit about 9 hours of video if that's all you keep on the gadget.

The iPhone also can access some YouTube videos, but since it relies on a relatively slow data network, access could be spotty, unless you're using its other built-in wireless technology: Wi-Fi. Other Web video will mostly be inaccessible, since the browser doesn't play Flash content, but that may change.

• The phone chatter — Maybe, but using it mainly as a phone seems like a waste. You can't type in names to quickly bring up someone from the contact list. Voicemail is listed with the caller's name or number, sort of like e-mail. In another neat feature, a sensor turns off the screen when you bring the phone to your face.

The cheapest service plan costs $60 a month for 450 daytime minutes — relatively expensive, since you're paying for unlimited data use. Getting 1,350 minutes costs $100 a month.

• The gamer — No. The iPhone does everything except games. A pity, with that nice big screen. Third-party developers might put something clever together that works in the iPhone's browser, but it's going to be limited. You probably have a Sony PSP or Nintendo DS already, and the PSP, in particular, already has the big screen and some of the iPhone's multimedia functions, so you can complement it with a cheaper phone.

• The corporate road warrior — No. For professional use, you're probably stuck with what the company supports, and for now, that's going to be BlackBerries and Windows Mobile devices like the Samsung BlackJack. Corporate Microsoft Exchange e-mail servers can be configured to send e-mail to the iPhone, but many companies will not take this step. Other features of Exchange, like contact and calendar syncing, are not available.

One possible solution is to forward corporate e-mail to free Web-based e-mail accounts that the iPhone can access, but that raises security issues.

If you're looking for some entertainment from your work phone, Windows Mobile phones like the T-Mobile Wing are already quite capable. A recently released BlackBerry, the Curve, plays music through a standard stereo headphone jack and has a built-in camera.

• The frugal buyer — No, the first-generation iPhone is likely to be followed by something substantially better, like one that uses a faster cellular broadband network and has more memory. It's unlikely that the first iPhone will be upgradable, and in any case, it would require a trip back to Apple.

• The photo buff — Not likely. The iPhone has a 2-megapixel camera, which is decent, and the large screen should make the results easy to appreciate. But phones dedicated to camera buffs also record video and have higher resolutions. The new Nokia N95 has a 5-megapixel sensor and a lens from Germany's famous Carl Zeiss. Unfortunately, it sells for $750, since it isn't subsidized by any U.S. carrier.

• The world traveler — Possibly, but it's not ideal. The iPhone will work overseas, but only at AT&T's roaming rates. Better to have a world phone that has been "unlocked" by the carrier, so you have the option to use a local number and pay local rates.

• The fashionista — Sure. The iPhone is one of the best-looking phones ever. The screen is glass, not plastic, and should be fairly resistant to long fingernails. Goodbye, pink RAZR.

By PETER SVENSSON, AP Technology Writer

Monday, June 25, 2007

LEDs move into home lighting market


EVERETT, Mass. - Joey Nicotera's fascination with multicolored light bulbs bordered on obsession when he was a teenager. He framed posters in lights and decorated his own Christmas tree. When he couldn't find a color bulb he wanted, he got paint cans from the basement and made some himself, bathing his second-story bedroom in an eerie glow.

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"I'd be driving home from work at night, and I could see his room from five blocks away, with all the weird colors and flashing lights," recalls his father, Joe Nicotera Sr.

Joey is now 32 and out of the family home. But a rainbow of ever-changing colors still emanates from his current living space, an 840-square-foot loft condominium in a renovated candy bar factory in Everett, just north of Boston.

Instead of painting light bulbs, Nicotera spent $5,000 to equip his bachelor pad with 54 fixtures containing light-emitting diodes, or LEDs — devices similar to computer semiconductors that convert electricity into light and stream it out of glass domes the size of matchstick heads.

They may be pricey now, but LEDs are being touted as eventual replacements for standard, incandescent bulbs and even compact fluorescents because of their growing efficiency and predictions of increasingly lower costs.

And as LEDs expand their reach into the aesthetic-minded market for home lighting, they boast something traditional lighting sources can't: LEDs can be programmed to emit light in virtually any color without the use of filters, enabling homeowners to design their own living room light shows, or tailor the color of the light to their mood.

"If colored light is needed, now there is a technology that can cater to that," said Nadarajah Narendran, director of lighting research at Rensselaer Polytechnic Institute in Troy, N.Y.

Nicotera counts himself among an apparent handful of lighting enthusiasts around the country who have outfitted their homes with large numbers of LEDs. Now, his pad is a popular party spot and a great place to bring dates.

"I wanted a Vegas cocktail lounge look, with a Jetsons flavor to it," said Nicotera, an information technology manager in Boston. "I always figured that George and Jane would have walls that changed color," he said of the old TV cartoon characters.

Narendran says niche applications are already emerging as homeowners install LEDs to light display cabinets and add color to high-end home theaters. But it's hard to say how many homeowners will follow Nicotera's example by installing color LEDs and programming light shows.

"It's a matter of personal preference, like fashions," Narendran said.

Nicotera installed all his LED fixtures himself. Each contains 45 to 75 of the tiny spotlight-producing LEDs, commonly used in on-off indicators for electronics and appliances. He doesn't have any incandescent bulbs and relies on 50 halogen fixtures for overhead light.

He says his 54 LED fixtures together use less electricity than a single 100-watt incandescent and account for just $2 a month on his utility bill.

But it's the light show capabilities that capture Nicotera's interest. He taps controls on a wall switch panel to choose among eight programs or uses lighting control software on his laptop to expand programming options even further. Each program varies the color and brightness of the LED arrays in hanging lamps and the LED strips in backlit wall shelving and kitchen cabinets.

The wall switch and laptop are linked to a flash memory device and a pair of VCR-sized transformers that control the lights from a hallway closet. Shelves and cabinets abruptly shift from one hue to the next or shimmer gradually through the spectrum, bathing the condo's neutral gray walls in light.

Nicotera runs a red-white-and-blue program each Fourth of July, and he can change colors on shelf panels to simulate Tetris, the falling-blocks video puzzle game. When Italy won soccer's World Cup last year, Nicotera displayed Italy's national colors in his first-floor condo, which is visible to nearby traffic.

"It was all red, white and green," Nicotera said. "People who would drive by would honk their horns."

Because of their color advantage, LEDs are being used to light display shelves at jewelry stores and supply ambiance in restaurants. Hotels are installing LEDs to provide splashes of exterior color. And Toronto's CN Tower is being lit this month with more than 1,300 color-changing LEDs running up the 1,815-foot structure.

As for LEDs that cast white light, Narendran expects it will be five to 10 years before such products begin seriously challenging other light sources in homes.

So far, cost is the biggest obstacle, but that should change over the next few decades.

Three years ago, the first 10 fixtures Nicotera mounted in the bathroom ceiling cost $125 apiece. Since then, the cost has come down to less than $75 each. He says he hasn't had to replace or fix any of his LEDs, which are touted to run continuously for 11 years.

Last Tuesday, Netherlands-based Royal Philips Electronics NV expanded its LED presence by offering $688 million to acquire Color Kinetics Inc., a decade-old Boston company that designed the CN Tower's new lighting and holds patents on systems to control LED color and brightness.

Fritz Morgan, Color Kinetics' chief technology officer, said the semiconductor technology underlying LEDs is becoming more affordable and efficient at a rate on par with advances in computing speed. Today's LEDs are about as efficient as the latest compact fluorescents, Morgan said, and they are improving faster than fluorescents.

"There's been a dramatic increase in just two or three years, where LEDs went from being as efficient as incandescents, to then being as good as halogens, to now being at the level of compact fluorescents," Morgan said.

Nicotera — whose home is equipped with Color Kinetics LED products bought through distributors — is so impressed with the technology that he's put his condo up for sale and plans to build a new home from scratch, equipped exclusively with LEDs.

His condo is being offered at $359,000 — he may throw in the unit's LED lights and controls for a little extra, subject to negotiation.

Although the LEDs may turn off some prospective buyers, Nicotera's mother is proof that there can be rewards to investing in a new technology. She was initially skeptical when her son started planning his condo's design.

"When he started talking about having a wall of lights, I couldn't really imagine what he was talking about," Linda Nicotera said. "I thought it was going to look like a disco, or something on the tacky side.

"But there was a 'wow' factor when I finally saw it. It ended a lot better than I thought."

By MARK JEWELL, AP Business Writer

Saturday, June 23, 2007

Breaking News: Henry agrees to Join Barcelona


Thierry Henry says he is quitting Arsenal to join Spanish giants Barcelona on a four-year deal.

"I still must pass a medical on Monday but yes, I have chosen Barcelona," the 29-year-old striker told French sports daily L'Equipe on Saturday.

Barcelona had already revealed that they were close to bringing Henry to the Nou Camp in a £16m deal.

Barcelona vice-president Ferran Soriano told Spanish sports newspaper Marca that talks were at an "advanced" stage.

Soriano added it was "the wish of all parties" for an agreement to be reached for the transfer of Henry.

He also insisted that they waited for the green light from Arsenal before making a move for the striker, who is the club's all-time record goalscorer.

"We don't want to point a gun at anybody," said Soriano. "We have good relationships with the European clubs."

Henry, who only agreed a lucrative new deal with Arsenal 12 months ago, also confirmed his exit in The Sun newspaper.

In an open letter, he blamed the shock departure of Gunners vice-chairman David Dein and continuing doubts over the future of manager Arsene Wenger as the main reasons for his decision to leave.

"Arsene has been part of my life for as long as I can remember," he wrote.

"Unfortunately and understandably he has said that at this moment he will not commit to the club past the expiration of his current deal which finishes at the end of the coming season.

"I respect his decision and his honesty but I will be 31 at the end of next season and I cannot take the chance to be there without Arsene Wenger and David Dein.

"This is solely my decision, no-one has forced me to do anything and I will represent myself in this transaction. I feel it is something I just had to do."

Henry, who has also been linked with European champions AC Milan, has also revealed the reasoning behind his decision to move to the Nou Camp.

"Barcelona are a wonderful club steeped in tradition and play beautiful football. I'm sure I will be very happy there," he wrote.

"But I will miss the Arsenal fans dearly, they have supported me through thick and thin.

"They will always be in my heart, as will all the fans who make the game here so special. I will always have a special bond with Arsenal Football Club."


Henry spent much of last season sidelined because of injury

Henry began his career as a winger with Monaco in 1994 under the supervision of current Arsenal boss Arsene Wenger.

He was in France's 1998 World Cup-winning squad and went on to join Juventus the following season.

But his time in Turin was a largely unsuccessful one and the player was soon heading to north London with Wenger keen to get the best out of the prodigious talent.

The France international has since blossomed into one of the greatest talents in world football.

He helped Arsenal to two league titles and three FA Cups, and led the Gunners to the finals of the 2000 Uefa Cup and 2006 Champions League.

In February 2006, he became the first Arsenal player to score over 200 goals for the club with a strike against Birmingham and has bagged a club record 226 goals in 364 appearances for the Gunners.

His consistency in front of goal has seen him finish as the Premier League's top scorer on four occasions.

He has won the PFA Players' Player of the Year title on two occasions and the football writers' player of the year three times. He has also twice finished runner-up in the Fifa world player of the year.


BBC sport report