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URL: http://www.nytimes.com SUBJECT: BANKING & FINANCE (90%); SUBPRIME LENDING (90%); EDITORIALS & OPINIONS (90%); ECOLOGY & ENVIRONMENTAL SCIENCE (89%); MORTGAGE BANKING & FINANCE (89%); SUBPRIME MORTGAGES (89%); ENTREPRENEURSHIP (78%); MORTGAGE BACKED SECURITIES (78%); RISK MANAGEMENT (78%); ECONOMIC GROWTH (72%); ECONOMIC DEVELOPMENT (69%); HEDGE FUNDS (68%); HIGH YIELD BONDS (67%); BONDS (67%); MORTGAGE LOANS (58%); ARTIFICIAL INTELLIGENCE (52%); INTERNATIONAL RELATIONS (50%); SECURITIZATION (78%); CREDIT CRISIS (78%); FOREIGN RELATIONS (50%); PRODUCT INNOVATION (76%); STOCK EXCHANGES (65%) PERSON: MICHAEL MCMAHON (85%) GEOGRAPHIC: UNITED STATES (92%) LOAD-DATE: January 25, 2008 LANGUAGE: ENGLISH DOCUMENT-TYPE: Op-Ed PUBLICATION-TYPE: Newspaper Copyright 2008 The New York Times Company 1150 of 1231 DOCUMENTS The New York Times
Late Edition - Final Ambition Knows No Season BYLINE: By WELD ROYAL SECTION: Section C; Column 0; Business/Financial Desk; Pg. 5 LENGTH: 1069 words IN winter in Juneau, Alaska, snow blankets everything, bears hibernate and Grady Saunders, the owner of the Heritage Coffee Company, fills his schedule with trips to balmy coffee-growing parts of the world. He recently got back from a trip to Kona, Hawaii. Still, Mr. Saunders keeps his cafes and other retail outlets open year-round, even though for at least a third of the year, this tiny city seems an inhospitable place to run a business. Gone are the cruise ships that bring almost a million tourists to this southeast Alaska town from late spring to late summer. Locals number about 31,000, and many of them head for warmer climates as the days become short and temperatures drop. Seasonal changes in the economy are not unique to Alaska, of course. Most of the other 49 states have ups and downs depending on weather, school calendars or annual events. But the intensity of Alaska's seasonal variation is greater than in any other state or the nation as a whole, according to Dan Robinson, an economist with the state's Department of Labor and Workforce Development. He said Alaska's economy loses about 10 percent of its jobs from August to January every year. It starts to gain back those jobs in January. Donald Getz, a University of Calgary business professor and author of ''Event Management and Event Tourism,'' who has studied small businesses operating in tourist-dependent economies, divides the owners into two types: lifestyle entrepreneurs and business growers. Lifestyle entrepreneurs, he said, want to live in a nice place and use their business income to help sustain their existence in towns that often are expensive places to live. Mr. Getz said these business owners often move with the seasons, running a bed and breakfast in Alaska in the summer, for instance, and another in Hawaii in winter. Business growers, in contrast, are ambitious, and want their operations to turn a profit. ''They're always on the lookout for opportunities that will see them through the quiet season,'' he said. Mr. Saunders, 56, who has been in the coffee business for 33 years, falls into the second category. He has developed strategies to see Heritage through the inhospitable months. While summer days are a frenzy of hiring temporary workers, chasing after coffee beans that are missing and helping institutional customers during their busy season, he uses the fall and winter to meet suppliers. ''The key to the specialty coffee business is growing better coffee, and for us that means checking out new farms, seeing their growing methods and how they treat their people,'' he said. During the quiet season, Mr. Saunders has been to Costa Rica, Panama, Brazil, Kenya and Tanzania and plans a trip to Ethiopia in November. He has also come up with new ways to extend the summer season. Heritage developed a line of in-room single-serve coffee packages for the 150 or so hotels, lodges and bed and breakfasts throughout Southeast Alaska. They start ordering in mid-April, which means Heritage, which roasts and packages its own beans, starts preparing to ship coffee to the hotel industry in March. Mr. Saunders also opened a restaurant in Juneau two years ago that is a short walk from the state Capitol building for the 60 legislators, their aides and lobbyists in town for the legislative session, which starts in January. Some of Mr. Saunders's diversification ideas have not worked out. He opened a cafe in Seattle, but sold it in a year, he said, after realizing the headaches of managing long distance. Dawn Walsh, 47, and Sydney Mitchell, 43, are also business growers. They are energetic, daring, even a bit crazy. After all, who else would open a boutique for stylish shoes in a town where it rains about 220 days a year and where snow may be on the ground until April? Almost three years ago, Ms. Walsh and Ms. Mitchell started Shoefly Inc., along Juneau's harbor, across the street from the cruise ship docks. ''Real Women Ignore the Weather'' was used for an advertising campaign. The store's shelves are stocked with red and white pumps with four-inch heels by Naughty Monkey, magenta suede shoes by Farylrobin and other footwear from European and American designers. In midwinter customers trickle in, one or two an hour, in contrast to as many as 200 a day in mid-July. ''Having that peak season makes a big difference in terms of what we can stock,'' Ms. Mitchell said. That is because shoe manufacturers sell in bulk -- a dozen pairs in a particular size and color, for instance. Local customers may buy a pair or two, but the store is not able to sell all of them without the summer traffic. ''There are many women in Juneau who are fashion forward, but just not enough of them,'' Ms. Mitchell said. The duo finds ways to lure those left in town into the store in cold months. They are currently holding a designer shoe and handbag consignment event. They price and help sell high-end items customers bring to them. They have also expanded. In October, they bought the nearby Hudsons Shoes, a 68-year-old institution that sells more conservative lines. With the purchase came about 150 pairs of unsold shoes from decades ago, including Converse sneakers from the 1970s and antique Buster Brown models for girls. In February, Ms. Walsh and Ms. Mitchell will hold a ''vintage shoe sale'' to move the historic merchandise. Marketing innovations, economic diversification and regulations have helped to ease some of Juneau's seasonal swings, according to Lance Miller, until recently director of the Juneau Economic Development Council. Local contractors have found new ways to build indoors when the weather turns bad. The mining industry is much busier than it was a few years ago and the work is year-round. Mr. Miller said international fishing regulations have helped to spread out that industry's catch periods. But Mark Stopha, a 43-year-old commercial fish seller, said winter remains slow. Mr. Stopha, who owns the Alaska Wild Salmon Company, said he often puts in 18-hour days in summer buying and selling salmon. In winter, he is in his home kitchen inventing new uses for fish. He said about 25 percent of his company's revenue now comes from products with long shelf lives. Juneau in winter, he said, ''is a great laboratory.'' ''If you've got something to try out, people have all the time in the world to talk to you.''
South Franklin Street in Juneau, Alaska, is crowded with a million tourists from late spring to late summer, but is pretty empty when the weather turns cold and snowy. (PHOTOGRAPHS BY MICHAEL PENN FOR THE NEW YORK TIMES) PUBLICATION-TYPE: Newspaper Copyright 2008 The New York Times Company 1151 of 1231 DOCUMENTS The New York Times
Late Edition - Final Built to Fly Into Space With the Greatest of Ease (They Hope) BYLINE: By JOHN SCHWARTZ SECTION: Section A; Column 0; National Desk; Pg. 16 LENGTH: 336 words Virgin Galactic, the company that hopes to fly well-heeled tourists to the edge of space by the end of 2009, provided a peek Wednesday at the craft that will take them there. During a news conference at the American Museum of Natural History in Manhattan, Richard Branson, the British entrepreneur whose Virgin Airways is the parent company of the project, said 2008 would be ''the year of the spaceship.'' Mr. Branson showed models of two vehicles, both created by the airplane designer Burt Rutan. WhiteKnightTwo, a two-fuselage, four-engine plane, is designed to ferry a smaller spacecraft, SpaceShipTwo, high into the sky and release it. The pilot of SpaceShipTwo will then fire the craft's rocket engine, which burns a combination of nitrous oxide and a rubber-based solid fuel, shooting the vehicle to an altitude of more than 62 miles into the realm of black sky. If trips go as planned, passengers will experience several minutes of weightlessness and spectacular views from the many 18-inch windows. The pilot will rotate the wings into a ''feathered'' position to slow the craft for a glider landing. Test flights of the new planes could occur this year. Mr. Rutan said the new vehicles would be hundreds of times safer than current space flight, though there would still be risk involved. Mr. Rutan's company, Scaled Composites, encountered disaster last summer when an explosion during a so-called cold test of the nitrous-oxide system killed three employees. Work on the engine has slowed as the company has tried to determine the cause of the explosion. The California Division of Occupational Safety and Health later fined the company $25,870 for five violations of regulations for workplace safety. About 100 prospective passengers were on hand Wednesday. One, Trevor Beattie, an advertising executive, said he was awed by Mr. Rutan's design. ''It's what we, as kids in the '60s, dreamed the future would be like,'' Mr. Beattie said. Tickets for the first flights are $200,000 apiece. URL: http://www.nytimes.com SUBJECT: SPACE EXPLORATION (90%); SPACECRAFT (90%); WORKPLACE HEALTH & SAFETY (86%); ENTREPRENEURSHIP (78%); HOLDING COMPANIES (78%); AIRLINES (76%); PRESS CONFERENCES (72%); OCCUPATIONAL HEALTH & SAFETY AGENCIES (69%); FINES & PENALTIES (63%); SPACE PROPULSION (76%) COMPANY: VIRGIN ATLANTIC AIRWAYS LTD (85%) ORGANIZATION: AMERICAN MUSEUM OF NATURAL HISTORY (58%) PERSON: RICHARD BRANSON (73%) GEOGRAPHIC: NEW YORK, NY, USA (92%) NEW YORK, USA (92%); CALIFORNIA, USA (79%) UNITED STATES (92%) LOAD-DATE: January 24, 2008 LANGUAGE: ENGLISH GRAPHIC: DRAWING: A drawing of the aircraft Virgin Galactic hopes will ferry tourists to the edge of space. ''It's what we, as kids in the '60s, dreamed the future would be like,'' a prospective passenger said. PUBLICATION-TYPE: Newspaper Copyright 2008 The New York Times Company 1152 of 1231 DOCUMENTS The New York Times
Late Edition - Final Chang Joins Hall With Editor and Agent BYLINE: By FRANK LITSKY SECTION: Section D; Column 0; Sports Desk; Pg. 5 LENGTH: 359 words Michael Chang, who at age 17 became the youngest man to win a Grand Slam title, was elected to the International Tennis Hall of Fame. The hall will also announce Wednesday the posthumous election of two of the sport's entrepreneurs: Mark McCormack, the founder of IMG, the sports, entertainment and media company, and Eugene Scott, a former world-ranked player who founded Tennis Week magazine and for more than 30 years served as its publisher, editor and iconoclastic columnist. The induction ceremony will be July 12 at the International Tennis Hall of Fame and Museum in Newport, R.I. The additions will raise the hall's membership to 207 players and contributors from 18 nations. Chang, now 35, was born in Hoboken, N.J., and raised in California. He played with huge energy, speed, patience and a punishing return to service. Although he was unseeded in the 1989 French Open, he won five-set matches from first-seeded Ivan Lendl in the quarterfinals and third-seeded Stefan Edberg in the final. Against Lendl, Chang had leg cramps in the fourth set. For the rest of the match, he ate bananas and drank water at every opportunity, and kept hitting moon balls. Lendl's noted concentration lapsed because of Chang's lobs and even an underhand serve. In the 3-hour-41-minute final, Edberg kept rushing the net and Chang kept returning service quicker than usual to keep the ball at Edberg's feet. When Chang became the French Open champion, he was 17 years 3 months old. He remains the youngest man to win a Grand Slam championship. The next youngest was Boris Becker, who won the 1985 Wimbledon title at 17 years 7 months. Chang reached 58 tournament finals and won 34. His highest world ranking was No. 2 in 1996. He retired from the professional tour in 2003 and plays on a senior tour. McCormack, who died in 2003 at 72, represented many athletes in tennis and other sports, produced competitions and handled television rights. He also served as IMG's chairman and chief executive. In addition to his magazine achievements, Scott, who died in 2006 at 68, was a tournament director, athletes' representative and author of 20 tennis books. URL: http://www.nytimes.com SUBJECT: SPORTS (91%); TENNIS (91%); SPORTS & RECREATION (90%); SPORTS AWARDS (89%); TOURNAMENTS (89%); ENTREPRENEURSHIP (77%); RANKINGS (76%); TELEVISION INDUSTRY (50%); SPORTS & RECREATION EVENTS (89%); TENNIS TOURNAMENTS (90%); PUBLISHING (71%) ORGANIZATION: INTERNATIONAL TENNIS HALL OF FAME (91%) GEOGRAPHIC: NEW JERSEY, USA (79%); RHODE ISLAND, USA (79%); CALIFORNIA, USA (79%) UNITED STATES (79%) LOAD-DATE: January 23, 2008 LANGUAGE: ENGLISH GRAPHIC: PHOTO: Michael Chang, who once reached the No. 2 ranking, won the French Open in 1989.(PHOTOGRAPH BY VINCENT LAFORET/THE NEW YORK TIMES) PUBLICATION-TYPE: Newspaper Copyright 2008 The New York Times Company 1153 of 1231 DOCUMENTS The New York Times
Late Edition - Final Product Placement on Reality TV Seems Somehow More Realistic BYLINE: By STUART ELLIOTT SECTION: Section C; Column 0; Business/Financial Desk; ADVERTISING; Pg. 3 LENGTH: 1007 words AS the writers' strike keeps the television networks scrambling to fill their schedules, the producers of reality shows are gladly stepping in to fill the vacuum. And with the propensity of those producers to incorporate the products of sponsors into the programs, don't be surprised if the vacuum bears a brand name like Hoover or Dyson. It is typically easier to weave a product into an episode of a reality show like ''American Idol'' or ''Survivor'' than into a scripted series like ''Grey's Anatomy'' or ''Two and a Half Men.'' For one thing, the contestants in reality shows are usually more willing to pitch products than the actors in scripted programs. Actors prefer to worry about their art -- and their long-term value as endorsers of a certain soda if viewers have already watched them cheerfully drinking a different brand. Also, viewers seem more tolerant when products turn up in settings that are deemed realistic rather than fictitious. A result is that the networks are expanding their reality plans, particularly as the ratings for some strike fare like ''American Gladiators'' are surpassing the viewership for the scripted shows they replaced. NBC, which has embraced reality perhaps more ardently than its competitors, is even planning a prime-time reality special for May 11 that is being developed by and for an advertiser, Teleflora. The show -- which also involves the NBC morning show ''Today,'' Redbook magazine and the Reveille production company -- will center on a search for ''America's Favorite Mom.'' Needless to say, the winner can expect to be festooned with flowers, and a rose is to be named in her honor. ''We're looking to be the best partners for our advertisers,'' said Ben Silverman, co-chairman at NBC Entertainment, part of the NBC Universal division of General Electric. And one way to do that, he said, is ''building programming assets in partnership with our advertisers.'' The trend of reality programs becoming showcases for brands is even having an impact on series in which advertisers are not paying to place products. For instance, the Clearly Canadian line of beverages is featured prominently in a reality series, ''Bobby G: Adventure Capitalist,'' which will make its debut Thursday on the Mojo HD network as part of a block of three business shows called ''Mojo Money Night.'' The series follows the adventures -- and misadventures -- of Bobby Genovese, an entrepreneur in the field of so-called small-cap or penny stocks; he owns companies including the BG Capital Group and BG Capital Management. A good deal of the plot of the eight weekly episodes of ''Bobby G: Adventure Capitalist'' is devoted to his efforts to revive Clearly Canadian through steps like hiring as an endorser a popular Canadian-born athlete, Steve Nash of the Phoenix Suns basketball team. ''I love brand-name companies, especially ones that have fallen on hard times,'' Mr. Genovese said in a telephone interview. Even so, he added, ''I had no idea the beverage business is as tough as it is.'' Mojo HD is part of In Demand Networks, which is owned by a consortium that includes Comcast and Cox Communications. The channel is aimed at an affluent audience, primarily male and ages 18 to 49. Although brands are prevalent in ''Bobby G: Adventure Capitalist,'' the viewers are sophisticated enough to distinguish between programming and infomercials, said Nick Davis, executive producer of the series for Nick Davis Productions. ''We were encouraged to tell the story, warts and all,'' Mr. Davis said. ''If Clearly Canadian had imploded, we'd have covered it.'' The NBC special, ''Teleflora Presents America's Favorite Mom,'' will be a kinder, gentler show, seeking entries from viewers in categories like single mothers, working mothers and ''unconventional'' mothers. A Web site, americasfavoritemom.com, has been set up to accept nominations; it can also be reached through teleflora.com. The increasing interest among advertisers in branded entertainment is easily explained, said Lynda Resnick, chairwoman at Teleflora. ''People are watching television; they're just not watching commercials,'' she said. ''That is the distinction.'' But as a sponsor of branded entertainment, ''you have to be integrated into the content, not added on,'' Ms. Resnick said, because no one wants to watch ''a talking head at the end of a show.'' ''And I don't want to bore people,'' she added, so the show has to be entertaining enough to avoid playing like a program-length commercial. The producer of the special, Reveille, is also creating reality series for NBC including ''American Gladiators'' and ''The Biggest Loser.'' Both have branded-entertainment deals with marketers like Subway restaurants, 24 Hour Fitness and Toyota. ''Advertiser partnerships support the show with media buys, with integrated promotions,'' said Mark Koops, managing director at Reveille, which help ''reach out for a wider audience'' than the network alone could seek. For example, Redbook, part of the Hearst Magazines unit of the Hearst Corporation, will encourage its readers to nominate favorite mothers and will feature the finalist and winning contestants from the TV special in coming issues. ''This idea Teleflora had is so of the moment,'' said Mary E. Morgan, vice president and publisher at Redbook, ''taking reality television and combining it with consumer-generated content.'' The reference was to the materials that consumers submit to enter the contest on the favorite-mom Web site: they can upload photographs and video clips in addition to submitting nominations. Mr. Koops was among the executives who took over Reveille after Mr. Silverman, the chief executive, left to join NBC Entertainment. Mr. Silverman played down a perception that those ties were why NBC buys so many shows from Reveille. ''The greatest worry of all is if 'American Gladiators' had been a hit on Fox or CBS or ABC,'' Mr. Silverman said. ''Then your article is: 'Forget the conflict of interest. Ben's an idiot.' ''
Copyright 2008 The New York Times Company 1154 of 1231 DOCUMENTS The New York Times
Late Edition - Final Rating the Politicians, Past and Present SECTION: Section A; Column 0; Editorial Desk; LETTERS; Pg. 24 LENGTH: 873 words To the Editor: Re ''Debunking the Reagan Myth'' (column, Jan. 21): Paul Krugman is right on the mark. Conservatives have made an entire mythology surrounding Ronald Reagan. He is falsely credited by conservatives with everything from brilliant economic policies to ending the cold war. Today we are hearing many conservatives lamenting that conservatism has lost its way. The truth is that conservatives had their way. In six years of unified control of the levers of power, they did more damage than is imaginable. It could take us a generation to regain our former prestige and clout. Conservatism failed in the 1890s, again in the 1920s, again in the 1980s, and again at the beginning of the 21st century. That is the message Democrats need to hammer home at every possible occasion. Conservatives failed because conservatism is a failed ideology. The greatest periods of American history all rejected conservatism in favor of the ideals our nation was founded on. Brandon Bittner Royersford, Pa., Jan. 21, 2008 To the Editor: While Ronald Reagan probably isn't the heroic figure the Republicans want him to be, he did represent an attitude that needed expression. Senator Barack Obama was saying that Reaganism was an overdue reaction to the malaise of government dependency that led us away from the ''dynamism and entrepreneurship'' that is just as much a part of this country as giving everyone the opportunity for a better life. Perhaps the level playing field had previously been emphasized too much, and we needed reminding again that individual motivation and effort built and still builds this country. This conservative counter-emphasis was probably overdone in the 80s, but it does show that we need to balance both sides of the American experience and not keep swinging back and forth in the radicalization of either. Senator Obama shows that he understands this duality by using Reagan as an indicator. Bill Cannon Evanston, Ill., Jan. 21, 2008 To the Editor: While I am no fan of the policies of the canonized ex-president, Ronald Reagan was a charismatic leader who helped America recover its dormant sense of glorious self; in many ways, he made us feel patriotic again. And as Senator Barack Obama correctly noted, he profoundly changed the direction of the country; whether that change was for good or bad, Senator Obama shrewdly left to the reader to determine. Phil Harnick Sherman Oaks, Calif., Jan. 21, 2008 To the Editor: Re ''In Search of Reagan'' (Week in Review, Jan. 20): The incessant and obsessive invocation of Ronald Reagan's name by the G.O.P. presidential candidates to the exclusion of anyone else does not say much about the candidates themselves today, or about G.O.P. personalities in the two decades since Reagan. And it certainly does not say much about the present G.O.P. occupant of the White House. Dorian de Wind Austin, Tex., Jan. 20, 2008 To the Editor: Re ''Hillary, Barack, Experience'' (column, Jan. 20): Nicholas D. Kristof mentions that Hillary Rodham Clinton's claim of having 35 years of experience is ''spurious.'' Most of her supporters believe that she is more experienced than Barack Obama, based on her experience in the White House and Arkansas. But Bill Clinton, not Hillary, was the ''decider'' in the White House and Arkansas. She was an adviser among many, and had a role with no accountability. Moreover, her advisory role is difficult to evaluate since White House records will not be released until 2012. Her Senate experience of one term and one year is the only time she had a decision-making role; therefore she has almost the same ''traditional'' experience as Senator Obama. Sunasir Sen New York, Jan. 21, 2008 To the Editor: I could not agree more with Nicholas D. Kristof. As an ardent, lifelong Democrat, I have already seen too much evidence in this campaign that political experience may not be helpful, particularly when invectives are being used to destroy others. This politics of destruction will backfire. It will splinter our party and result in an outcome none of us want in November. Bill Clinton's behavior in recent days is a perfect example. Mr. President, you should know better! Wendy Rhodes Deerfield, Ill., Jan. 21, 2008 To the Editor: Re ''Rangel Remains in Clinton's Camp in Her Battle With Obama'' (news article, Jan. 22): With many black voters supporting presidential candidates other than Barack Obama, and many women voters supporting presidential candidates other than Hillary Rodham Clinton, it seems that we may finally be entering an era in which candidates are chosen more for their stand on issues than simply for their race or gender. That is a great step forward for our country. Gregory F. Reggie Crowley, La., Jan. 22, 2008 To the Editor: Re ''Fierce Spending in Early Stages Saps Campaigns'' (news article, Jan. 20): Given the rate at which the candidates have burned through their campaign war chests well in advance of the country's larger and more costly primary contests, voters should give pause to see who among them has the fiscal prudence to get us through the impending recession that some economists argue may already be upon us. Bruce Ellerstein New York, Jan. 20, 2008 Directory: ~hesterj -> Entrepreneur Entrepreneur -> Byline: By richard siklos section: Section C; Column 5; Business/Financial Desk; Pg. 1 Length Download 3.51 Mb. Share with your friends:
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