GameStop Revised to $26.75 after Q2 2012 Earnings

While the results were disappointing with declines of 11% in net sales and 9.3% in comparable sales compared to Q2 2011, strong cash flow during the quarter and a 67% increase in its dividend has caused the stock to gain nearly 15% after the earnings disclosure.

Source: http://www.forbes.com/sites/greatspeculations/2012/08/23/gamestop-revised-to-26-75-after-q2-2012-earnings/

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5 Tech CEOs Who Have Lost A Fortune In The Past Year

mark pincusYou know what’s cooler than a million dollars?

A billion dollars… said these five tech CEOs right before they no longer had a billion dollars.

Launching a hot internet startup, taking it public and making billions of dollars for yourself and your investors is one of the most exciting ways of the last 20 years to make a bloody fortune.

Unfortunately, being the CEO of a hot dotcom company can have a few more ups and downs than, for example, being the CEO of Coca-Cola.

Actually, it can be more like a roller coaster ride, and with each peak and valley your net worth increases or decreases exponentially. The last year has been rough for many companies and the economy in general, but the tech industry has been battered especially hard. Along the way, these five tech CEOs in particular have lost a fortune…

These 5 Tech CEOs Who Have Lost A Fortune In The Last Year >

More From Celebrity Net Worth

Kevin Systrom ? Instagram

Back in April my dad asked me to explain what Instagram was and why Facebook was buying them for $1 billion. It’s not as easy to explain as you’d think. It’s a free app that distorts your photos to make them look older and lower quality…kind of like a Polaroid… Regardless of what you thought of Instagram, you had to give props to 28 year old CEO Kevin Systrom after he scored a billion dollars for a company that had no revenue or monetization plans whatsoever as far as we know. Systrom’s 40% stake was worth $400 million, another $100 million went to co-founder Mike Krieger and the remaining half billion was divvied up by various venture capitalists. The terms of the deal would pay Instagram $300 million cash and 23 million shares of Facebook stock which at the time (prior to their IPO) were valued at $23 a share or $690 million. Good deal right? Ehhh… Turns out not so much. It would have been a great deal if Facebook’s stock exploded after their IPO like everyone hoped/expected but, as we laid out in example #4 above, Facebook went on to lose half its value, Instagram lost $300 million and Kevin Systrom’s take was reduced by $120 million to $280 million.

Instagram teaches a very good lesson in negotiation. Usually when a company accepts stock in a buyout, the sellers lower their risk by requiring a floating share price. A floating share price allows the number of shares involved in the buyout to increase or decrease depending on the buyer’s stock price at the time the deal officially closes. This also means that if the stock goes way up, the acquired company does not benefit from the increase in value but, their original deal is locked in stone. In hindsight, Instagram probably should have opted for more protection, but in the long wrong, maybe they’ll be vindicated.

Mark Zuckerberg ? Facebook

Facebook’s bad luck didn’t end with their disastrous IPO back in May. The IPO was a complete debacle, leaving investors reeling with unfilled orders and bad information. Facebook’s share price peaked briefly at $45 on it’s actual IPO day, giving the company a near $85 billion market cap and CEO Mark Zuckerberg a net worth of $20 billion. June, July and August have been brutal for the young social network. The stock has lost half its value and Zuckerberg’s net worth has dropped to $10 billion. Shockingly, several analysts and reporters have actually called for the mighty Zuck to step down from his own company!

Reed Hastings ? Netflix

As we reported back in October, Netflix CEO Reed Hastings has experienced one of the most incredible falls from grace in CEO history. Almost exactly one year ago, Netflix was a Wall Street darling, with the stock hitting an all time high of $300. The company had a market cap of $16.5 billion and Reed Hasting’s net worth was $900 million. Fast forward 12 months and Netflix’s stock has lost 78% of its value thanks to their very public, very disastrous Qwikster debacle which raised fees and sent subscribers fleeing by the tens of thousands. It also didn’t help that the company lost several key licensing deals which left their streaming library very thin. Reed Hasting has been selling his own stock like there’s no tomorrow and his net worth is currently $280 million.

See the rest of the story at Business Insider

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Hurricane Warnings Issued Across Florida

New hurricane warnings have been issued for western Florida, the Keys, and parts of the Bahamas as Tropical Storm Isaac moves north through the Atlantic and into the Gulf of Mexico.

The National Hurricane Center has put eastern Florida and Haiti under hurricane watches. The agency has also put the Dominican Republic, Cuba, and Turks and Caicos under tropical storm warnings.

Isaac is expected to be upgraded to a hurricane as early as tomorrow.

Winds are currently at 60 miles an hour as the storm gains speed.

Below, updated images from the National Hurricane Center.

Hurricane Isaac

Hurricane Isaac

Below, the advisory issued by the National Hurricane Center this morning.

000 WTNT24 KNHC 250845 TCMAT4 TROPICAL STORM ISAAC FORECAST/ADVISORY NUMBER 17 NWS NATIONAL HURRICANE CENTER MIAMI FL AL092012 0900 UTC SAT AUG 25 2012 CHANGES IN WATCHES AND WARNINGS WITH THIS ADVISORY... A HURRICANE WARNING HAS BEEN ISSUED FOR THE FLORIDA KEYS INCLUDING THE DRY TORTUGAS...THE WEST COAST OF FLORIDA FROM BONITA BEACH SOUTHWARD...AND FLORIDA BAY. A HURRICANE WATCH HAS BEEN ISSUED FOR THE FLORIDA EAST COAST FROM GOLDEN BEACH SOUTHWARD. THE GOVERNMENT OF THE BAHAMAS HAS ISSUED A HURRICANE WATCH FOR ANDROS ISLAND. SUMMARY OF WATCHES AND WARNINGS IN EFFECT... A HURRICANE WARNING IS IN EFFECT FOR... * THE FLORIDA KEYS INCLUDING THE DRY TORTUGAS * THE WEST COAST OF FLORIDA FROM BONITA BEACH SOUTHWARD * FLORIDA BAY A HURRICANE WATCH IS IN EFFECT FOR... * HAITI * THE FLORIDA EAST COAST FROM GOLDEN BEACH SOUTHWARD * ANDROS ISLAND IN THE BAHAMAS A TROPICAL STORM WARNING IS IN EFFECT FOR... * DOMINICAN REPUBLIC * HAITI * CUBAN PROVINCES OF CIEGO DE AVILA...SANCTI SPIRITUS...VILLA CLARA...CAMAGUEY...LAS TUNAS...GRANMA...HOLGUIN...SANTIAGO DE CUBA...AND GUANTANAMO * THE BAHAMAS * TURKS AND CAICOS ISLANDS * THE FLORIDA EAST COAST FROM JUPITER INLET SOUTHWARD * LAKE OKEECHOBEE A TROPICAL STORM WATCH IS IN EFFECT FOR... * CUBAN PROVINCES OF MATANZAS AND CIENFUEGOS * JAMAICA * THE FLORIDA EAST COAST NORTH OF JUPITER INLET TO SEBASTIAN INLET A HURRICANE WARNING MEANS THAT HURRICANE CONDITIONS ARE EXPECTED SOMEWHERE WITHIN THE WARNING AREA. A WARNING IS TYPICALLY ISSUED 36 HOURS BEFORE THE ANTICIPATED FIRST OCCURRENCE OF TROPICAL STORM FORCE WINDS...CONDITIONS THAT MAKE OUTSIDE PREPARATIONS DIFFICULT OR DANGEROUS. PREPARATIONS TO PROTECT LIFE AND PROPERTY SHOULD BE RUSHED TO COMPLETION. A HURRICANE WATCH MEANS THAT HURRICANE CONDITIONS ARE POSSIBLE WITHIN THE WATCH AREA...IN THIS CASE WITHIN THE NEXT 24 TO 36 HOURS. A TROPICAL STORM WARNING MEANS THAT TROPICAL STORM CONDITIONS ARE EXPECTED SOMEWHERE WITHIN THE WARNING AREA WITHIN 36 HOURS. A TROPICAL STORM WATCH MEANS THAT TROPICAL STORM CONDITIONS ARE POSSIBLE WITHIN THE WATCH AREA...GENERALLY WITHIN 48 HOURS.

Read the full advisory here >

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Use These 6 Free Apps To Save Money When You're Out Shopping (AAPL, GOOG, AMZN)

Extreme Shopping

How can you be sure that you're getting the best possible price on an item?

Harness the power of the internet with a price comparison app!

Each one operates in a slightly different way to warn you if you're about to pay too much for an item, whether it's a new dishwasher or a can of cat food.

Here's our roundup.

Amazon Barcode Scanner

Amazon sells nearly anything you could imagine. Use this app to scan barcodes in a store to see if you can get the item at a better price on Amazon

Price: free

RedLaser

Operating just like the Amazon Barcode Scanner, RedLaser lets you scan a barcode to find the best price online. Instead of only checking Amazon, however, RedLaser searches loads of other major retailers.

Price: free

Decide Shopping & Price Predictor

Sometimes prices on given items will change throughout the year. That's where this app steps in -- tell it what you're considering to purchase and it will tell you to buy now or to wait for an upcoming price drop.

Price: free

See the rest of the story at Business Insider

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11 Of The Most Expensive Private Golf Clubs In New York

liberty national golf club golfslope

With the recession showing no signs of slowing down and our economy struggling to find its footing, the golf industry has found that it is not as untouchable as one might think.

Private clubs throughout the country have been doing all they can in order to fill membership and keep their clubs afloat. Whether it be cutting dues, discounting initiation fees or waiving them altogether, private clubs are doing what they can to stay on top.

However, as difficult as it has been for some, there are a few clubs that are not only doing well but extraordinarily so.

As Golfslope continues to focus on the New York City area, we’ve come across a slew of private clubs within the area that are thriving.

With staggering initiation fees and wait lists a mile long, these clubs show no sign of slowing down. It’s somewhat insane to the average person to think that these prices are somewhat common and actually fairly good deals considering. Would you pay these prices? Do you think it’s worth it? Or would you rather play on a public course with a daily fee? Let us know at our article page.

The respective clubs have not confirmed the initiation fees. These numbers were gathered from research, word of mouth and industry insiders.

#11: Bayonne Golf Club

Initiation Fee: $150,000

Bayonne Golf Club is located in Bayonne, New Jersey. The course was designed by Eric Bergstol. One of the most prestigious courses in the area, Bayonne requires a $150,000 initiation fee.
Source: Links Magazine, August 2012
 
With staggering initiation fees and wait lists a mile long, these clubs show no sign of slowing down. It’s somewhat insane to the average person to think that these prices are somewhat common and actually fairly good deals considering. Would you pay these prices? Do you think it’s worth it? Or would you rather play on a public course with a daily fee? Let us know at our article page.

The respective clubs have not confirmed the initiation fees. These numbers were gathered from research, word of mouth and industry insiders.

#10: Trump National Westchester

Initiation Fee: $200,000

Trump National Golf Club Westchester is located in Briarcliff Manor, New York and was designed by Jim Fazio. It’s no surprise to see another Trump course on this list. Initiation fees for his Westchester club are $200,000.
Source: Links Magazine, August 2012

#9: Atlantic Golf Club

Initiation Fee: $200,000

Atlantic Golf Club is another club located in Bridgehampton, New York. With a course designed by Rees Jones, this club can cost its members a rumored $200,000 in initiation fees.
Source: Links Magazine, August 2012

See the rest of the story at Business Insider

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Military Special Operators Weigh In On The Fox News Leak, SEAL Team 6, And 'No Easy Day'

Book Title No Easy Day

In the wake of the epic Fox News leak revealing the identity of the SEAL Team 6 (ST6) member who wrote a book on the raid that killed Osama bin Laden, I called up some friends and acquaintances in the "community" to get some perspective.

The SEAL, Matt Bissonnette, was not only in the room when bin Laden took his last breath, but wrote a book about it less than 500 days later.

His intent was to publish this book under the pseudonym Mark Owen, but some operators I talked to said the leak started when Bissonnette's pen hit the paper.

Don Mann, a former SEAL famous not only for his reputation as a ST6 member, but also for authoring many books including Inside SEAL Team Six: My Life and Missions with America’s Elite Warriors, said it would have been smart to get the book vetted first, a common practice for authors with security clearances.

"I had every one of my books vetted first, by both the military and the government," Mann said. But he added that he wanted to give Bissonnette "the benefit of the doubt" that he had not included any information that would not have been approved by the government.

Mann also said the compromise of Bissonnette's identity was inevitable.

"But maybe he didn't know. I could see someone falling into that sort of coercion," he said. "You talk to a few people, or somehow they find out who you are, and suddenly everyone's offering you money. Lots of money. They made me three offers when I left the teams, big offers, and I turned them down. [I said] I would take those secrets to the grave."

"But then I wrote a book," he continued. "And at first I thought, 'maybe I'll leave my name out of it,' but I knew there was no waythe publisher definitely knows who you are, and there are other people, they don't have clearances. We're kind of disappointed in Foxwe have friends there, but it's too hard of a secret to keep in today's world."

Mann also said that no one really knows the whole truth yet, and that the real leak started as soon as Obama identified the specific team who got bin Laden.

attached image

Milo Afong, a Marine sniper and purple heart recipient, said he understood why someone in Bissonnette's position would write  a tell-all.

"He's completely responsibleonce you put pen to paper, there's going to be repercussions for doing that," Afong said. "But I can understand a man needs to make money."

Media attention only brings more scrutiny, though. Afong also said it was completely irresponsible for the media to release Bissonnette's name.

Afong, also an author of two books, including Hunters: U.S. Snipers in the War on Terror, said no one really knows Bissonnette's situation, other than that he's retired, which means he may require income.

"If Obama's going to invite Hollywood producers to the White House to make a movie about it, why can't he tell his side of the story?" Afong said. "That movie, it will make hundreds of millions of dollars. Will those guys see any of that?"

From a civilian perspective, Afong said he was "amping" to read Bissonnette's book. "I would love to hear those stories. I want to hear an operator's perspective to be in the top two tiers of SpecOps in the US," he said.

But from a military perspective, he said, it concerned him.

"What about the OpSec (Operational Security)? What are you going to give away, what aren't you?" Afong asked. "I have faith though, that he didn't give anything away. You know at those levels, they make sure you're intelligent. So I have a feeling he didn't give anything away."

"You never really know though. Man, I wish the best for the guy," he added.

Scott Taylor SEALScott Taylor, co-creator of the controversial "Dishonorable Disclosures" anti-Obama, anti-leak ad, said in an email:

While it would be fundamentally wrong to comment on a book I have not seen, if the book has not been properly cleared before release and includes details about tactics and capabilities, then it’s no less detrimental to future Special Operations missions and personnel than similar leaks by the Obama Administration.

It’s also representative of what Rep. Dutch Ruppersberger (D-Maryland), the ranking member on the House Intelligence Committee, called the ‘culture of leaks’ that has been allowed to develop under this Administration. Operation Security rules apply to everyone, from the top of the chain of command to the bottom.

The response from the limited amount of guys from the community I have spoken to today has been negative.

"Negative" is right. But the word doesn't do justice to the last community member I interviewed.

"Ben" has intimate knowledge and many close friends in the "Black Ops" community. His identity is not disclosed for obvious reasons.

When I broke the news of the Fox leak to him, all I heard was a flurry of expletives. No joke. Eventually he calmed down.

"Well first of all he better have dotted his i's and crossed his t's, man, because they'll come and arrest him," Ben said.

Who, I askedthe government?

"Yeah, in or out of the Navy, doesn't matter, there's just certain stuff you don't talk about. Justice Department will come and take him," he said.

I couldn't believe it—that a guy could go from killing our worst enemy to incarceration.

SEALs"It could get worse," Ben said. "He better have protected his brothers. Because his comrades will come and (beat him down)."

Really? I asked.

"Yeah, they'll rough him up, definitely. But more importantly, I hope he's moved his family. That's even more important. SEALs are brothers, they take care of each other in the end. I just hope he's taken care of himself as well."

Ben touched on how some SEALs have made money consulting for video games and movies, and that he found the practice less than admirable. But servicemen don't get the best retirement packages, and if they have families, doing private contracts in South America or Africa doesn't really make sense, he said.

"Hopefully he didn't say anything, because he'll make America look stupid, he'll make us all look stupid," Ben said. "SEAL Team 6, they're doing the type of stuff, tactics, that are so sought aftersecret helicopters, secret tacticseven other SEALs want to know what they do."

You're still going to read the book though, Ben?

"Definitely."

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The Suspended Pool At A Shanghai Holiday Inn Looks Pretty Freaky

You might not expect family-friendly Holiday Inn to have such a daredevil design feature in one of its hotels, but this cantilevered pool is truly striking.

Find it on the 24th floor of the Holiday Inn Shanghai Pudong Kangqiao, which opened in May 2011. Swimmers can see right down onto the street, and pedestrians can peer up into the water.

shanghai holiday inn pool

shanghai holiday inn pool

And a rendering:

shanghai holiday inn pool

Now check out 10 hotels that are owned by celebrities >

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