Archive for the ‘BUSINESS’ Category

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Cydcor named one of the best places to work

Friday, January 22nd, 2010

Cydcor, the Westlake Village, California-based sales organization, was mentioned among “Best Places to Work” by the San Fernando Valley Business Journal. This is the second year in a row that Cydcor has achieve this distinctive honor. Cydcor ranked #14 for mid-sized companies.

The Business Journal and Best Companies Group analyzed area companies’ commitment to workplace excellence. The criteria included employee benefits, corporate philanthropy, progressive policies, work-life balance, internal working conditions, local management, workplace camaraderie and support of employees’ personal growth. The selections were conducted through surveys and employee comments.

Cydcor was cited for maintaining a supportive work environment and culture, open communication, quality and commitment of management and benefits. Fore example, Cydcor employees are eligible for benefits in their first month. After their first year, each Cydcor employee receives fifteen days of personal time off. Cydcor has also instituted an Employee Assistance Program (EAP) that provides mental health counseling and referrals, along with wellness and quitting smoking programs. Cydcor encourages open communication with a a suggestion box, open-door policy, employee surveys, and regular organizational newsletters.

“Cydcor is a company that values hard work on our clients’ behalf, but also a company that rewards our employees and contributes to our community,” said Gary Polson, chief executive officer of Cydcor. “We’re proud Cydcor has been recognized as one of the area’s Best Places to Work once again.”

According to Cydcor senior VP Vera Quinn, Cydcor’s culture is guided by a code of valued behaviors. “Our values aren’t just words on paper. They are well thought out actions that represent who we are and what we do for our clients. Cydcor team members are rewarded monthly for exhibiting the Behaviors We Value, encouraging that these values live on in our daily interactions,” Quinn said.

Cydcor is heavily involved in corporate philanthropy in Cydcor’s community. In 2009, the Cydcor community hosted Business Building Blocks, a weekend filled with philanthropic and training activities with the Boys & Girls Club of Venice. The Cydcor community also initiated a toy drive for the Children’s Hospital Los Angeles. Cydcor has also donated groceries and health products to a Manna-sponsored food drive and helped more than 500 Sylmar families who lost their homes to a 2008 fire. Cydcor is also a strong supporter of the Harbor Wetlands Restoration Project.

Source: Cydcor Named Among San Fernando Valley’s 2009 “Best Places to Work” For Second Year (PR Wire)

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Shoppers Scramble for Zhu Zhu Pets

Friday, January 15th, 2010

Parents across the US are dashing to buy the mechanical rodent known as the Zhu Zhu, currently the most in-demand Christmas gift for children.

They could be hard to come by though.

Retailers like Toys “R” Us and Walmart have been losing stock of the toys as parents continue to make requests for them. Meanwhile, opportunists at eBay have been selling them for as much as $100 each; the elusive toys otherwise only retail for $8.

In research conducted by the NPD Group, Zhu Zhus now rank among the five fastest-selling toys of 2009, in league with old favorites like G.I. Joe. In this view, Zhu Zhu’s maker, Cepia, could pocket $70 million in profits.

Loosely translated in Chinese as “piglet,” the Zhu Zhu is essentially a squeaking and chirping piece of artificial intelligence covered in faux fur. It is engineered to respond randomly to a touch and can scoot around reflexively.

But the fun doesn’t stop there. Largely made for 4-year old tots, the Zhu Zhu comes with a wide array of accessories, for which parents stand to shell out as much as $50. A single slide costs around $35, while a skateboard retails for nearly $13, the full-fledged “hamster city” selling for $130.

With daughters Natalie and Ashley, Cepia founder Russell Hornsby started conceiving the Zhu Zhu in 2008. At that time, the trio just discovered a 45-million strong demographic for live hamsters; they were willing to gamble on such market to splurge on artificial pets.

Such sales pitches grew to a crescendo this Yuletide, spawning a hysteria unseen since the debuts of Tickle Me Elmo, Pokemon, and Cabbage Patch dolls.

So-called Zhu Zhu parties have even been held. Throughout 2009, there were 300 of these affairs, in which parents could bond over their children, who would in turn bond over Zhu Zhus.

Now Wal-Mart has ordered more of the toys, to be shipped via 747s from China. In addition, the store has started holding Zhu Zhu sales twice a week, just so parents could satiate their children in time for Christmas morning.

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Profiles in Business: The Core Team of Avista Capital Partners Equity Firm

Wednesday, January 13th, 2010

With a roster of experienced professionals, Avista Capital Partners specializes in private equity investments that targets growth oriented media, healthcare and energy companies. The company is considered one of the largest private equity firms in the world. Avista Capital Partners is unified by a team of professionals that thrives on an extensive background of collaborative teamwork since their days at DLJ Merchant Banking Partners — one of the world’s largest and most successful investment firms.

The core team of Avista Capital is composed of its co-managing partners, beginning with DLJMB former managing partner Thompson Dean and former chairman of DLJMB Global Energy Partners Steven Webster; David Burgstahler; former chairman of DLJMB Global Healthcare Partners Larry Pickering; OhSang Kwon; David Durkin and Robert Cabes. These individuals, who are responsible for pointing the company to a direction leading to profitability and efficiency, are all experts in the field of private equity.

One of the most important goals of the company is to manage influential minority investments, especially those that are US-based. Avista Capital Partners holds on to a solid paradigm of investing revolving in a Global Partnership Strategy shaped by focus, expertise and good relationship in business. The company believes that this welcomes more than good procurement in the present market. With this strategy, it is no wonder then that Avista has continued to perform strongly as its management continues to work on producing real value that their clients can count on.

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Texting Grows Among Americans

Tuesday, January 12th, 2010

More Americans are using their thumbs rather than their mouths to communicate. In figures released Dec. 15, 2009 by the U.S. Census Bureau, the number of text messages sent in 2008 doubled from the previous year. In 2008, Americans sent more than 110 billion text messages. In comparison, only 48 billion messages were sent in 2007.

Interestingly, it appears as though Americans prefer to conserve their voices when contacting persons via cellphone. On average, they only spent 2.3 minutes each on a mobile phone call in 2008.

All in all, more than 270 million mobile phone and texting device users were accounted for in 2008. This number represents a 70% jump from 2003, when there were only around 159 million subscribers.

Merely 2.1 billion text messages were sent that year. That number has since risen more than 52 times in the six years leading to 2008’s record breaker. From two billion, the number of sent text messages rose to 4.7 billion in 2004, 9.8 billion the following year, 18.7 billion in 2006, and finally a quadruple billion in 2007.

Still, the average monthly cellphone bill relatively stayed the same throughout this six-year period. Since 2003, it has remained at approximately $55.

Talk time reached its pinnacle in 2004, even as call plans and mobile phones became increasingly available and affordable for everyday consumers. The average user talked for 3.05 minutes on the cellphone that year.

These numbers are largely based on a survey conducted by the nonprofit group known as the CTIA-Wireless Association. The Census Bureau used the data for their yearly Statistical Abstract, known in American terms as Uncle Sam’s Almanac.

Now on its 129th outing, the Statistical Abstract contains figures and tables about the economy, politics, society and everyday life in the United States. The abstract has been a traditional source of statistical information for many researchers and businesspersons.

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Affinion upgrades online marketing best practices

Monday, January 11th, 2010

Online marketing and consumer loyalty service provider The Affinion Group announced enhanced consumer protection policies, according to an Affinion press release. In cooperation with the Senate Commerce, Science, and Transportation Committee, Affinion has analyzed and is in the process of revising their marketing procedures. Committed to consumer service, Affinion is ensuring that its consumers give clear and informed consent for online purchases, accompanied by easy-to-understand billing policies.

The Senate Commerce Committee expressed concerns about the current “free to pay” marketing procedure, which had been reviewed by the Federal Trade Commission. Addressing their concerns, Affinion has enacted new policies to strictly adhere to the regulations put forth by the FTC. These changes include

  • Providing enhanced clear and conspicuous disclosure of all material terms of every offer in multiple locations throughout the offer.
  • Ensuring the consumer is billed only after obtaining the express informed consent of the consumer both to be charged for the offered service and to be charged to the identified account.
  • Requiring that the consumer gives — at a minimum — the last four digits of their account or credit card number for every online transaction involving pre-acquired account information and a free to pay conversion.
  • Clearly indicating in all solicitations that the program is provided by the company.

Affinion is going beyond the requirements of the FTC to ensure customers are protected. These additional measures include:

  • Displaying prominently the 1-800 customer service number which can be used for cancelations on every Affinion enrollment and confirmation page.
  • Adding language to enrollment web pages that makes it even clearer to consumers that they are being invited to enroll in a club or program that is distinct from, and has distinct terms and conditions from, the offerings on our partners’ websites.
  • Including the 1-800 customer service number which can be used for cancellations in each Affinion welcome email.

“Affinion is proud of its long-standing history of employing the best marketing practices in the industry and how our programs provide tremendous value for millions of consumers worldwide,” James Hart, Senior Vice President, Communications and Brand said. “While our marketing has always incorporated clear, prominent and unambiguous terms, we continually reevaluate our offers to make certain consumers are able to make fully informed decisions.”

“Affinion looks forward to continued dialogue with both the committee and our customers to ensure we remain the industry leader in both standards and quality,” Hart said.

Affinion Group is a global leader in providing comprehensive customer engagement and loyalty solutions that enhance or extend the relationship of millions of customers with many of the largest and most respected companies in the world. Affinion is the parent company of Trilegiant, another customer loyalty company. Affinion is currently under the leadership of CEO Nathaniel Lipman.

Source: Affinion Unveils Enhanced Online Marketing Standards (PR Newswire)

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Profiles in Business: David Filo

Tuesday, December 29th, 2009

Born in Wisconsin in the 20th of April 1966, David Filo ranks as the 240th richest person in the world. In 2006, he was estimated to have a net worth of $2.9 billion. A year earlier, in 2005, he reportedly donated a total of $30 million to Tulane University, his alma mater.

Moving to Moss Bluff, a suburb lake in Charles, Louisiana at the age of 6, David Filo finished his secondary education at Sam Houston High School. Afterwards, he earned a BS in Computer Engineering through a Dean’s Honor Scholarship at Tulane University in New Orleans. That degree was later on supplemented by an MS, which he obtained from the Stanford University.

In 1994, David Filo initiated the birth of Yahoo! together with his friend from Stanford, Jerry Yang. Of the two founders, David Filo serves as the key technologist, having his attention fixed on the more technological side of things. The more outgoing Jerry Yang, on the other hand, serves as the company’s cheerleader.

Starting off as a pair of Net-surfing doctoral students, David Filo and Jerry Yang launched their very own Website called “Jerry and David’s Guide to the World Wide Web”. The site was created to serve as an index for their favorite websites. By organizing web pages by subject, Filo and Yang’s simple software makes it easier for internet users to get to their favorite sites. It was initially used by the students of Stanford since it resided on the Stanford server.

Seeing it as a useful tool, the website became known to other people in the university. Within months, the site attracted thousands of other users. Since the site was often visited, David Filo and Jerry Yang decided to change the name into Yahoo!. The site became very popular so much so that another on-line company, AOL, offered to buy it. However, David Filo and his partner retained ownership of their brilliant creation and in 1995, they successfully established their very own company.

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Giving Comes Easily to Roni Lynn Deutch

Wednesday, December 23rd, 2009

Roni Lynn Deutch, known by millions as The Tax Lady, has been quite busy this holiday season. According to a recent press release, her firm’s Community Action Committee has teamed up with the Sacramento Children’s Home to sponsor a toy drive for children in need. It’s no coincidence that Roni chose this particular organization. The home is a non-profit that she has been working with over the past few years. The organization works diligently to find children a healthy home within their community and promotes positive parenting practices, child safety, and mental health.

This holiday season, Roni Lynn Deutch has asked that every employee at her firm participate in the toy drive to benefit the home. All were encouraged to collect toys and make monetary donations in hopes of sponsoring a snow day for the children.

This year’s toy drive is only part of the connection between Roni Lynn Deutch and the Sacramento Children’s Home. Each year, the firm throws a Halloween party and children at the home are invited to participate. The party includes a haunted house created by the firm’s employees as well as trick-or-treating. Roni Lynn Deutch’s Community Action Committee has sponsored several other events including a day of work where employees put together a baby boutique in the home’s crisis nursery.

Roni Lynn Deutch is incredibly grateful for her success and the success of her firm, and this motivates her to give back to the community. She has helped taxpayers nationwide resolve their tax woes for over 18 years. Not only is she an industry leader who has saved her clients millions of dollars, but she is also a leader in her community who cares deeply about improving the lives of others.

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Profiles in Business: Steve Jobs

Tuesday, December 22nd, 2009

American businessman and co-founder and CEO of Apple Inc., Steve Jobs is one of the most remarkable innovators in Science and Technology today. He previously served as the CEO of Pixar Animation Studios and frequently makes it in most rosters of the rich and famous.

Steve Jobs was born February 24, 1955 in Green Bay, Wisconsin. He graduated from Homestead High School in Cupertino, California in 1972 and entered in Reed College in Portland, Oregon. Jobs took up philosophy and foreign cultures in college.

During his years at Atari, which was the leading producer of video games at that time, he became friends with fellow designer Steve Wozniak and attended Homebrew Computer Club meetings. Eventually the two created one of the first successful PCs. Yet after losing a power struggle with the board of directors in 1985, Jobs quit from Apple and set up NeXT, a computer platform development company focusing in higher education and business markets.

In 1986, Steve Jobs obtained the computer graphics division of Lucasfilm Ltd. The division later became Pixar Animation Studios. He stayed as CEO and majority shareholder until it was acquired by the Walt Disney Company in 2006. At present, Jobs is part of Walt Disney Company’s Board of Directors. In a twist of fate, NeXT’s subsequent 1997 takeover by Apple Computer Inc. brought Jobs back to the company. He has since served as its Chief Executive Officer since then.

Jobs’ background in business has added greatly to the myths of the distinctive, individualistic Silicon Valley businessman, stressing the significance of design and the critical role of aesthetic appeal. Steve Jobs’ work focuses on the development of products that are both stylish and practical such as the minimalist style of iPod.

Steve Jobs was listed as Fortune Magazine’s Most Powerful Businessman of 2007.

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Suze Orman

Monday, December 14th, 2009

Susan Lynn Orman, the renowned host of CNBC’s “The Suze Orman Show,” was born on the fifth of June 1951 to parents of Russian-Jewish descent. Having graduated with a BA degree in social work from the University of Illinois, Suze Orman now holds a variety of occupations. She is currently juggling her duties as a financial advisor, an author, motivational speaker, as well as an influential television personality.

As a financial advisor, Suze Orman runs her own financial firm in Emeryville, California. Orman had established the Suze Orman Financial Group way back in 1987, right after her resignation at the Prudential Bache Securities, where she served as vice president of investments.

As a writer, Suze maintains a Q&A advice section in Oprah Winfrey’s monthly O magazine. Aside from that, she also contributes her skills as a writer to various other publications including Lowes MoneyWorks, The Philadelphia Inquirer, and Your Business at Home Magazine. Suze Orman is also an author of various self-help books. For 2009, she was able to publish the Suze Orman’s 2009 Action Plan. In addition to that achievement, she was also able to receive an honorary degree of humane letters from her alma-mater, the University of Illinois at Urbana Champaign for the same year. For the previous years, she was able to publish several of her written works including the Money Book for the Young, Fabulous, and Broke in 2005, The Laws of Money, the Lessons of Life… in 2003, The Road to Wealth in 2001, and many others.

Her books, being sensational, had been one of the factors that had contributed to her success in television. For her series of PBS pledge drive specials, Suze Orman was honored with two Daytime Emmy Awards in the Outstanding Service Show Host category in 2004 and 2006. Throughout her career in television, she became the recipient of five Gracie Awards. Suze Orman was the first person to ever receive such number of awards for the entire 33-year history of the prestigious Awarding Group.

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AOL previews new brand identity as independent, content-driven company

Monday, December 7th, 2009

Earlier this fall, AOL previewed its new brand identity for its future as an independent company. The new brand identity will be fully unveiled on Dec. 10, when AOL common stock begins trading on the New York Stock Exchange.

The new AOL brand identity aims at being a simple, confident logotype, revealed by ever-changing images. Although it remains consistent, there are countless ways to reveal.

“Our new identity is uniquely dynamic,” said Tim Armstrong, chairman and chief executive officer of AOL. “Our business is focused on creating world-class experiences for consumers and AOL is centered on creative and talented people – employees, partners, and advertisers. We have a clear strategy that we are passionate about and we plan on standing behind the AOL brand as we take the company into the next decade.”

AOL partnered with Wolff Olins, a global brand and innovation consultancy, to develop a brand identity that speaks to the company’s future. The identity itself is a platform for expression and creativity reflecting the content, products and services that AOL offers. Some of the world’s best creative artists, including Universal Everything, GHAVA and Dylan Griffin created art and animations for the brand.

“Historically brand identity has been monolithic and controlling, little more than stamping a company name on a product,” said Karl Heiselman, chief executive officer of Wolff Olins. “AOL is a 21st century media company, with an ambitious vision for the future and new focus on creativity and expression, this required the new brand identity to be open and generous, to invite conversation and collaboration, and to feel credible, but also aspirational. We’re delighted to have worked so closely with the AOL leadership team to create something bold and exciting that sets AOL apart.”

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