FTC study taking aim at online marketing of booze and kids






LOS ANGELES (Reuters) – The Federal Trade Commission (FTC) plans this summer to recommend ways that the alcoholic beverage industry can better protect underage viewers from seeing its advertisements online.


Distillers, brewers and wineries pour millions of dollars into brand promotion on Twitter, Facebook and other social media, and industry critics contend they are not doing enough to prevent young consumers from receiving these messages.






“We’re doing a deep dive on how they’re using the Internet and social media,” said Janet Evans, a lawyer with the FTC, which is conducting a year-long study due to be released by early summer. “We’re focusing on underage exposure.”


She would not elaborate on any potential recommendations that might come out of the study, which began in April 2012.


The FTC is reviewing data from 14 big producers, Evans said, including Beam Inc, the maker of Jim Beam, Diageo Plc, home to Johnnie Walker, and Constellation Brands Inc, which makes Robert Mondavi and Ravenswood wines.


The FTC report “is something we take seriously and place at high priority,” said Karena Breslin, director for digital marketing at Constellation.


The FTC has made two requests for information since the study began, she said.


The regulatory agency has not said it intends to impose restrictions on liquor company social media advertising but it can make recommendations to the industry.


The FTC is empowered to file suit to ensure consumers are protected from deceptive marketing practices, Evans said, but she stressed that studies of this nature are meant to promote better self-regulation, not provide a basis for a case.


Executives say alcohol makers and distributors voluntarily adhere to the same industry-set standard for marketing to underage viewers on social media sites that the industry set for its ads on TV and other medium. That requires that at least 71.6 percent of an audience consists of adults 21 and older.


“No one in their right mind would want to advertise to people who can’t legally buy their product,” said Frank Coleman, senior vice president for Distilled Spirits Council of the United States (DISCUS), the trade group that sets the industry’s advertising codes.


In June 2011, DISCUS revised its code upwards to 71.6 percent from 70 percent, after the FTC recommended it review the standard to better reflect U.S. Census population data.


Industry critics, including David Jernigen, director of the Center on Alcohol Marketing and Youth at Johns Hopkins University, and Sarah Mart, research director of the advocacy group Alcohol Justice, contend the industry didn’t go far enough and should raise the standard further.


Jernigen says it needs to be at least 85 percent to effectively protect youth, so there would be no more than 15 percent exposure to the underage drinking population.


“The industry says its self-regulating but it’s ineffective and social media opens up a whole new set of problems because their ads are everywhere,” said Sarah Mart, research director for the San Rafael, Calif.-based group Alcohol Justice.


The industry group’s Coleman said the group now requires members to install age-checking tools via instant-messaging as a gateway to Twitter feeds and other branded Web platforms that ask the user for a birth date before admitting them.


In the first nine months of 2012, beer, wine and spirits manufacturers’ spent an estimated $ 35 million for paid Web display advertising, but industry executives estimate many millions more were spent on Web site creation, video production for platforms like Google’s YouTube and social media marketing efforts.


“We’ve significantly adjusted more money to digital for online video, Web sites, Facebook and Twitter content,” said Kevin George, global chief marketing officer for Jim Beam, which he says spends 30 percent of its media spend for online outlets, up from 10 percent in 2008.


Many companies are expanding their digital staff. Wine maker Constellation hired Breslin three years ago to initiate digital marketing and now has a team of five reporting to her.


Many alcoholic beverage companies flocked to Facebook because it requires users to post their birth dates when signing up. Last year Twitter partnered with Buddy Media to offer a more effective screening tool that sends a direct message to fans who click on a brand. The message sends the fan a link to a site that asks for date of birth, which has allowed Twitter to grab some more of the sector marketing. Salesforce.com bought Buddy Media last June, which is now folding the platform into its marketing cloud portfolio.


Health advocates and industry critics are crying foul. “Facebook and other interactive platforms are poorly monitored and not well age protected,” said Jernigen of Johns Hopkins University. “Anyone can say they’re 21 and click yes.”


(Reporting By Susan Zeidler; Editing by Ron Grover and Alden Bentley)


Internet News Headlines – Yahoo! News





Title Post: FTC study taking aim at online marketing of booze and kids
Url Post: http://www.news.fluser.com/ftc-study-taking-aim-at-online-marketing-of-booze-and-kids/
Link To Post : FTC study taking aim at online marketing of booze and kids
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Shakira gives birth to baby boy


LOS ANGELES (AP) — Shakira is a mama.


A spokeswoman for the 35-year-old Colombian singer says Shakira Mebarak and 25-year-old soccer star Gerard Pique of FC Barcelona welcomed son Milan Pique Mebarak on Tuesday at 9:36 p.m. in Barcelona, Spain.


A statement posted on the pop star's site in English, Spanish and Catalan says that "just like his father, baby Milan became a member of FC Barcelona at birth." The statement also says Milan weighed approximately 6 pounds, 6 ounces, and that "both mother and child are in excellent health."


Shakira asked fans earlier Tuesday on Twitter "to accompany me in your prayers on this very important day of my life."


Milan is the couple's first child.


___


Online:


http://shakira.com/


Read More..

Well: Is There an Ideal Running Form?

In recent years, many barefoot running enthusiasts have been saying that to reduce impact forces and injury risk, runners should land near the balls of their feet, not on their heels, a running style that has been thought to mimic that of our barefoot forebears and therefore represent the most natural way to run. But a new study of barefoot tribespeople in Kenya upends those ideas and, together with several other new running-related experiments, raises tantalizing questions about just how humans really are meant to move.

For the study, published this month in the journal PLoS One, a group of evolutionary anthropologists turned to the Daasanach, a pastoral tribe living in a remote section of northern Kenya. Unlike some Kenyan tribes, the Daasanach have no tradition of competitive distance running, although they are physically active. They also have no tradition of wearing shoes.

Humans have run barefoot, of course, for millennia, since footwear is quite a recent invention, in evolutionary terms. And modern running shoes, which typically feature well-cushioned heels that are higher than the front of the shoe, are newer still, having been introduced widely in the 1970s.

The thinking behind these shoes’ design was, in part, that they should reduce injuries. When someone runs in a shoe with a built-up heel, he or she generally hits the ground first with the heel. With so much padding beneath that portion of the foot, the thinking went, pounding would be reduced and, voila, runners wouldn’t get hurt.

But, as many researchers and runners have noted, running-related injuries have remained discouragingly common, with more than half of all runners typically being felled each year.

So, some runners and scientists began to speculate a few years ago that maybe modern running shoes are themselves the problem.

Their theory was buttressed by a influential study published in 2010 in Nature, in which Harvard scientists examined the running style of some lifelong barefoot runners who also happened to be from Kenya. Those runners were part of the Kalenjin tribe, who have a long and storied history of elite distance running. Some of the fastest marathoners in the world have been Kalenjin, and many of them grew up running without shoes.

Interestingly, when the Harvard scientists had the Kalenjin runners stride over a pressure-sensing pad, they found that, as a group, they almost all struck the ground near the front of their foot. Some were so-called midfoot strikers, meaning that their toes and heels struck the ground almost simultaneously, but many were forefoot strikers, meaning that they landed near the ball of their foot.

Almost none landed first on their heels.

What the finding seemed to imply was that runners who hadn’t grown up wearing shoes deployed a noticeably different running style than people who had always worn shoes.

And from that idea, it was easy to conjecture that this style must be better for you than heel-striking, since presumably it was more natural, echoing the style that early, shoeless cavemen would have used.

But the new study finds otherwise. When the researchers had the 38 Daasanach tribespeople run unshod along a track fitted, as in the Harvard study, with a pressure plate, they found that these traditionally barefoot adults almost all landed first with their heels, especially when they were asked to run at a comfortable, distance-running pace. For the group, that pace averaged about 8 minutes per mile, and 72 percent of the volunteers struck with their heels while achieving it. Another 24 percent struck with the midfoot. Only 4 percent were forefoot strikers.

When the Daasanach volunteers were asked to sprint along the track at a much faster speed, however, more of them landed near their toes with each stride, a change in form that is very common during sprints, even in people who wear running shoes. But even then, 43 percent still struck with their heels.

This finding adds to a growing lack of certainty about what makes for ideal running form. The forefoot- and midfoot-striking Kalenjin were enviably fast; during the Harvard experiment, their average pace was less than 5 minutes per mile.

But their example hasn’t been shown to translate to other runners. In a 2012 study of more than 2,000 racers at the Milwaukee Lakefront Marathon, 94 percent struck the ground with their heels, and that included many of the frontrunners.

Nor is it clear that changing running form reduces injuries. In a study published in October scientists asked heel-striking recreational runners to temporarily switch to forefoot striking, they found that greater forces began moving through the runners’ lower backs; the pounding had migrated from the runners’ legs to their lumbar spines, and the volunteers reported that this new running form was quite uncomfortable.

But the most provocative and wide-ranging implication of the new Kenyan study is that we don’t know what is natural for human runners. If, said Kevin G. Hatala, a graduate student in evolutionary anthropology at George Washington University who led the new study, ancient humans “regularly ran fast for sustained periods of time,” like Kalenjin runners do today, then they were likely forefoot or midfoot strikers.

But if their hunts and other activities were conducted at a more sedate pace, closer to that of the Daasanach, then our ancestors were quite likely heel strikers and, if that was the case, wearing shoes and striking with your heel doesn’t necessarily represent a warped running form.

At the moment, though, such speculation is just that, Mr. Hatala said. He and his colleagues plan to collaborate with the Harvard scientists in hopes of better understanding why the various Kenyan barefoot runners move so differently and what, if anything, their contrasting styles mean for the rest of us.

“Mostly what we’ve learned” with the new study, he said, “is how much still needs to be learned.”

Read More..

Ikea to double its spending on renewable energy to $4 billion









Ikea Group, the world's biggest furniture retailer, will double its investment in renewable energy to $4 billion by 2020 as part of a drive to reduce costs as cash-strapped consumers become more price sensitive.


The additional spending on projects such as wind farms and solar parks will be needed to keep expenses down as the company maintains its pace of expansion, Chief Executive Mikael Ohlsson said in an interview in Malmo, Sweden.


"I foresee we'll continue to increase our investments in renewable energy," said Ohlsson, who plans to step down this year after 3 1/2 years at the helm. "Looking at how quickly we're expanding and our value chain, we will most likely have to double the investments once more after 2015."








Companies such as sportswear maker Puma and drinks producer PepsiCo Inc. are expanding efforts to cut their use of scarce resources as they jostle for customers. Prices for wind turbines sank 23% in the three years that ended in June, while solar panels have tumbled by more than half in two years, making projects cost-effective, according to Bloomberg New Energy Finance.


Ikea plans to get 100% of the energy consumed at its stores and by subcontractors from renewable sources by 2020. The Swedish company owns 250,000 solar panels, mainly in the U.S., and invested in 126 wind turbines in northern Europe to cover 34% of its energy consumption.


Ohlsson said the retailer will have opportunities for "strong growth" in Europe for "many years to come" because many customers still do not have an Ikea store near them.


Sales in 2012 rose 9.5% to 27.6 billion euros ($36.7 billion), the company said in a release, while net income increased 8% to 3.2 billion euros.


Ikea gained market share across all markets, with the biggest increases being in southern Europe, where the economic crisis made customers more conscious of value, Ohlsson said.


Sales at the retailer have risen 38% since 2007, the last fiscal year before the financial crisis, as Ikea expanded in markets such as Britain and Spain, where it's opening new warehouses in Barcelona, Valencia and outside Madrid.


"We have seen very strong developments in the last few years in the U.S., in China, in Russia, in Germany, Poland and Finland," Ohlsson said. "Obviously, development has been slower in southern Europe, even though we've performed the best in countries where the economy is at its worst."


Ikea plans to increase same-store sales by 5% a year, while generating similar growth from new warehouses by doubling the rate of expansion after 2015.


In October, Ikea said it planned to more than double spending on wind farms and solar parks to as much as $2 billion to have the company cover more than 70% of its energy consumption by renewable sources in 2015 and protect it from volatile fossil-fuel prices.


The retailer is expanding its product range for customers to live more sustainable lives themselves, focusing on waste handling and cutting energy and water use.


"For now, we're mainly focusing on the big parts of resource use at home," Ohlsson said, adding that Ikea is testing some solar solutions for customers in Britain.





Read More..

County official calls car leasing contract procedure 'embarrassing'









Auditors reviewing a $1.75-million car leasing contract given to a company with a politically connected lobbying firm found that Los Angeles County officials had failed to create a "truly competitive" process, but that there was no evidence of improper influence.


Investigators with the county auditor-controller's office reviewed the Enterprise Rent-a-Car contract at the request of Supervisor Michael D. Antonovich. A report by KCET-TV had raised questions about the way the business was awarded.


Enterprise was given a sole-source, five-year deal in March to provide 60 leased  vehicles to the county's Community Development Commission and to maintain the agency's existing fleet. Commission staff projected that outsourcing the fleet services would save about $300,000 a year.





The Nov. 28 report on KCET's "SoCal Connected" focused on the lobbying firm Englander Knabe & Allen and questioned whether its clients — including Enterprise — got an unfair advantage because partner Matt Knabe is the son of county Supervisor Don Knabe, who voted along with all the other supervisors to award the contract.


Both Knabes have said that their relationship has never posed a conflict, and a spokesman for the Englander firm has said Matt Knabe never lobbies his father directly.


The auditor-controller found no evidence of attempts to influence the rental car award. Matt Knabe told investigators that no one from his firm had lobbied on the contract, and the commission's executive director said he was "100% confident" the supervisor's son did not influence the process.


"The report shows that Matt acted professionally and used no undue influence in his dealings with the county," said Englander partner Eric Rose.


But the review did find that county staff did an "inadequate" job of trying to find other potential bidders.


Asked by KCET what vendors had been contacted and given a chance to compete for the business, a county analyst created a list to make it appear the department had reached out to 50 companies. In fact, only 16 firms had been contacted, auditors found. Enterprise was the only company that responded to the email request, and staff made no follow-up attempt to contact the other firms.


According to the auditor's report, the count of 50 vendors was originally used as a "place holder" in a template document and never corrected. By the time the contract was awarded, the contract analyst "felt he could not correct the number without embarrassment."


Investigators also found that the agency violated its own policy by not advertising the contract on the commission's or the county's websites, and that the contract should have gone through a full bidding process.


In addition, several vendors that contract officials emailed to invite interest had no "realistic potential" to provide a leased fleet to the county in the first place, the review concluded.


Investigators wrote that they couldn't determine whether the commission could have gotten a better deal but said "the potential for greater savings from a more competitive process appears to be plausible."


County auditor-controller Wendy Watanabe called the situation "embarrassing" but chalked up the issues to incompetence rather than intentional steering.


"I think they got lazy, they took a shortcut, and they didn't think it was that big of a deal," she said.


Watanabe said the investigation had focused on the Enterprise contract, so she could not say whether there was a broader issue with the agency's contracting process.


Commission representatives could not be reached Monday. The commission was slated to respond to the report's findings within 30 days.


abby.sewell@latimes.com





Read More..

No sympathy for Armstrong on social media






LONDON (Reuters) – Lance Armstrong’s televised doping confession has done nothing to restore his shattered reputation, a study of responses posted to the Twitter social media site showed.


“What was particularly noticeable in our analysis of the Armstrong revelation was the sheer lack of sympathy out there,” said Charlie Dundas of sports market research company Repucom.






“The tone of the discussion around the Oprah Winfrey interview highlighted the level of disappointment and anger that exists. It’s clear the public are far from ready to forgive Lance Armstrong,” he added.


In the interview, Armstrong admitted to using performance-enhancing drugs on his way to his seven Tour de France titles. The Texan also said he hoped a lifetime ban would one day be lifted to allow him to compete in events like marathons.


The Armstrong interview generated 1.9 million Twitter posts between January 14-20, Repucom said. America accounted for more than a quarter of these, with Australia the second most active nation on the site.


(Writing by Keith Weir, editing by Mark Meadows)


Social Media News Headlines – Yahoo! News





Title Post: No sympathy for Armstrong on social media
Url Post: http://www.news.fluser.com/no-sympathy-for-armstrong-on-social-media/
Link To Post : No sympathy for Armstrong on social media
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Beyonce, Hudson do star turns at inauguration


WASHINGTON (AP) — Beyonce drew a loud cheer at the inauguration Monday even before her impressive rendition of the national anthem. But in the role she played four years ago singing for the president and first lady at the inaugural ball was her "Dreamgirls" co-star Jennifer Hudson.


If President Barack Obama's first inaugural theme seemed to be summed up by Beyonce's "At Last," this time it was Hudson's version of Al Green's "Let's Stay Together."


Hudson was among the entertainment at Monday night's inaugural balls, joined by Stevie Wonder and Alicia Keys, who modified her hit "Girl on Fire" to sing "He's the president and he's on fire ... Obama's on fire. Obama's on fire."


The crowd at the official Inaugural Ball joined in with the Grammy-nominated fun. anthem "We Are Young."


And Wonder got small knots of dancers going with crowd-pleasers such as "Signed, Sealed, Delivered I'm Yours."


Earlier in the day, the applause for Beyonce started when she took her place with Jay-Z at the Capitol to watch President Barack Obama take the oath for his second term in office. The two stopped to chat with the Rev. Al Sharpton.


James Taylor kicked off the musical performances, strumming his guitar and singing "America the Beautiful." Kelly Clarkson followed with a different arrangement of "My Country 'Tis of Thee." Then Beyonce was introduced and the crowd again roared its approval.


Beyonce had a definite fan in Supreme Court Justice Clarence Thomas, who applauded eagerly after she finished singing the national anthem. She offered R&B-esque vocal riffs as she sang on and the crowd seemed to love it, cheering loudly as she finished. Clarkson, too, hit high notes.


Beyonce may have been the star musical attraction, but she had plenty of company from Hollywood at the Capitol on Monday. Katy Perry and John Mayer sat side-by-side, with Perry in an orange-striped coat and wide hat, and Mayer in dark sunglasses. Singer-songwriter Ke$ha was there, too.


People flocked to the colorful pop star, snapping photos. And Perry did the same, taking shots of "Girls" actress and daughter of news anchor Brian Williams, Allison Williams.


Actress Eva Longoria was seated on the platform outside the Capitol after making an appearance at a Kennedy Center performance Sunday night. Perry sang at the children's concert the night before.


Former Boston Celtics great Bill Russell was in the crowd, too, along with actor Marlon Wayans.


___


AP writers Donna Cassata, Darlene Superville, Josh Lederman and Jocelyn Noveck contributed to this report.


__


Follow Mesfin Fekadu on Twitter at http://twitter.com/MusicMesfin


Read More..

The Week: A Roundup of This Week’s Science News





“Science,” a colleague once said at a meeting, “is a mighty enterprise, which is really rather quite topical.” He was so right: as we continue to enhance our coverage of the scientific world, we always aim to keep the latest news front and center.




His observation seemed like a nice way to introduce this column, which will highlight the week’s developments in health and science news and glance at what’s ahead. This past week, for instance, the mighty enterprise of science addressed itself to such newsy topics as the flu (there’s still time to get vaccinated!), and mental illness and gun control.


In addition to the big-headline stories that invite wisdom from scientists, each week there is a drumbeat of purely scientific and medical news that emerges from academic journals, fieldwork and elsewhere. These developments, from the quirky to the abstruse, often make their way into the daily news cycle, depending on the strength of the research behind them. (Well, that’s how we judge them, anyway.)


Many discoveries are hard to unravel. “In a way, science is antithetical to everything that has to do with a newspaper,” the same colleague observed. “You couldn’t imagine anything less consumer-friendly.”


Let’s aim to fix that. Below, a selection of the week’s stories.


DEVELOPMENTS


Health


Strange, but Effective


People with a bacterial infection called Clostridium difficile — which kills 14,000 Americans a year — have a startling cure: a transplant of someone else’s feces into their digestive system, which introduces good bacteria that the gut needs to fight off the bad. For some people, antibiotics don’t fix this problem, but an infusion of diluted stool from a healthy person seems to do the trick.


Genetics


Dig We Must



Hillery Metz and Hopi Hoekstra/Harvard University



Evolutionary biologists at Harvard took a tiny species of deer mice, known for building elaborate burrows with long tunnels, and bred it with another species of deer mice, which builds short-tunneled burrows. Comparing the DNA of the original mice with their offspring, the biologists pinpointed four regions of genetic code that help tell the mice what kind of burrow to construct.


Aerospace


Launch, Then Inflate



Uncredited/Bigelow Aerospace, via Associated Press



NASA signed a contract for an inflatable space habitat — roughly pineapple-shaped, with walls of floppy cloth — that will ideally be appended to the International Space Station in 2015. NASA aims to use the pod to test inflatable technology in space, but the company that builds these things, Bigelow Aerospace, has bigger ambitions: think of a 12-person apartment and laboratory in the sky, with two months’ rent at north of $26 million.


Biology


What’s Green and Flies?



Jodi Rowley/Australian Museum



National Geographic reported on an Australian researcher working in Vietnam who discovered a great-looking new species of flying frog. Described as having flappy forearms (the better for gliding), the three-and-a-half-inch-long frog likes to “parachute” from tree to tree, Jodi Rowley, an amphibian biologist at the Australian Museum in Sydney, told the magazine. She named it Helen’s Flying Frog, for her mother.


Privacy


That’s Joe’s DNA!


People who volunteer their genetic information for the betterment of science — and are assured anonymity — may find that their privacy is not a slam dunk. A researcher who set out to crack the identities of a few men whose genomes appeared in a public database was able to do so using genealogical Web sites (where people upload parts of their genomes to try to find relatives) as well as some simple search tools. He was trying to test the database’s security, but even he did not expect it to be so easy.


Genetics


An On/Off Switch for Disease


Geneticists have long puzzled over what it is that activates a disease in one person but not in another — even in identical twins. Now researchers from Johns Hopkins and the Karolinska Institute in Sweden who studied people with rheumatoid arthritis have identified a pattern of chemical tags that tell genes whether to turn on or not. In rheumatoid arthritis, the immune system attacks the body, and it is thought the tags enable the attack.


Planetary Science


That Red Planet


Everybody loves Mars, and we’re all secretly hoping that NASA’s plucky little rover finds evidence of life there. Meanwhile, a separate NASA craft — the Mars Reconnaissance Orbiter, which has been looping the planet since 2006 — took some pictures of a huge crater that looks as if it once held a lake fed by groundwater. It is too soon to say if the lake held living things, but NASA’s news release did include the happy phrase “clues to subsurface habitability.”


COMING UP


Animal Testing


Retiring Chimps



Emily Wabitsch/European Pressphoto Agency



A lot of people have strong feelings about the use of chimpanzees in biomedical and behavioral experiments, and the National Institutes of Health has been listening. On Tuesday, the agency is to release its recommendations for curtailing chimp research in a big way. This will be but a single step in a long process and it will apply only to the chimps the agency owns, but it may well stir big reactions from many constituencies.


Read More..

Classic car collectors spend freely at Arizona auctions









A pair of classic Ferraris sold for more than $8 million apiece. The original Batmobile fetched more than $4.6 million. A racing Porsche from 1959 brought in $3.1 million.


At a series of Arizona classic car auctions last week, these and hundreds of other cars sold for an average of more than $100,000 — a big jump over the average of about $85,000 last year, according to Hagerty Insurance Agency, which insures and tracks values of classic cars. The total take for the auctions in Scottsdale and Phoenix jumped 22% from last year, to nearly $224 million.


Sales at the Arizona auctions speak to larger trends in the market for classic cars. The growing and increasingly global number of collectors is competing for a shrinking supply of classics. Furthermore, collectors are focusing on curating collections that focus on quality instead of quantity, classic car experts said.





So buyers who closely track classics from blue-chip marques such as Ferrari, Maserati, Mercedes-Benz and Duesenberg don't hesitate to pay top dollar when a rare model becomes available. The average price of a classic Ferrari is up 59% over the last 36 months, Hagerty reports.


"Regardless of how you made your money, what industry you're in or what country you're from, if you want to build a world-class car collection, you're going to have to spend some money," said McKeel Hagerty, founder and chief executive of Hagerty Insurance. "As older collections start to release better cars into the world, they're getting snatched up immediately. There's a huge demand for the best stuff."


Each year, half a dozen auction companies bring thousands of cars to Scottsdale and Phoenix, attracting hundreds of thousands of car fans. Many bring bounce-proof checks and big eyes for old sheet metal.


This year, a 1958 Ferrari 250 GT California Spider fetched the highest price. Gooding & Co. of Santa Monica sold the car for $8.25 million, including a commission. A close second: a 1960 Ferrari GT SWB Competizione Berlinetta, sold by RM Auctions for $8.14 million.


Not to be outdone, Barrett-Jackson — the Scottsdale company largely responsible for turning the


Arizona auctions into the spectacle they are today — sold the original Batmobile from the 1966-68 ABC television series "Batman" for $4.62 million.


Auction companies such as Barrett-Jackson, Gooding & Co. and RM Auctions, based in Ontario, Canada, are acutely aware of the ebb and flow of collectors' preferences, Hagerty said, and they are growing more adept at choosing what will bring the highest prices at auction.


"There's no doubt about it that auction companies are getting better at bringing cars to market that have a pretty wide appeal," Hagerty said.


This growing demand was on display at this year's Arizona auctions, said David Gooding, CEO of Gooding & Co.


"There are lots of people hungry to buy," Gooding said. "Our clients were not hesitant.... They were just bidding freely. Sometimes clients really toil over whether to bid on a car. They'll change their mind at the last minute. This year, everyone seemed confident."


This eagerness helped Gooding & Co. sell $52.6 million worth of cars this year, a 32.2% increase over last year. Meanwhile, RM Auctions sold $36.4 million worth of cars in Arizona, a 41.6% increase. Both companies said they sold vehicles for record-setting auction prices.


Yet neither company sold vehicles in the volume that Barrett-Jackson did. Unlike RM and Gooding, which hosted one- or two-day auctions, Barrett-Jackson put cars up for bid over five days. The company said it sold 1,343 cars for a total of $108.77 million, a 17% jump from last year.


Notable sales from the Barrett-Jackson auctions, which have been broadcast live on the Speed Channel since 1997, included 21 vehicles for charity, as well as the George Barris Batmobile.


Perhaps the highlight of the charity auctions was the sale of the first production 2014 Chevrolet Corvette Stingray. The seventh generation of the iconic American sports car was unveiled at the North American International Auto Show in Detroit on Jan. 13, and a preproduction model was shipped from Detroit to Scottsdale for the auction.


NASCAR team owner Rick Hendrick bought the car for $1.1 million. Hendrick won't get the car until late summer, when it rolls off the assembly line, but he'll have the opportunity to customize his Corvette, which will bear a vehicle identification number ending in 0001. Proceeds from the sale will go to the College for Creative Studies in Detroit.


david.undercoffler@latimes.com





Read More..

Homeless inventor, generous doctor are pod-ners in helping others









SACRAMENTO — The smell of the blossoms had drawn Mike Williams to the rose garden sometime after midnight. Capitol Park security guards were scarce at that hour, and he hoped to get a little sleep.


At 60, the medical technology inventor and entrepreneur was homeless, his money gone, his 28-year marriage over.


But on that August night, things got worse: Williams was awakened by brutal kicks to his midsection. The thieves grabbed his backpack and laptop — which he'd been using to chronicle his unexpected journey.





When he was able, Williams stumbled two miles to an emergency room.


"My biggest fear was that I'd lose my faith," Williams said recently. "But it took those guys who beat me up for me to meet Dr. Chen."


A 72-year-old urologist with an easy laugh, Jong L. Chen later operated on the homeless man's damaged prostate — treating him "with total respect and love," Williams said.


Then Chen took a leap of faith.


Today, the two men are partners in a start-up venture that aims to use Williams' street insights to help others. Compliments of Chen, Williams also now has a roof over his head.


When they shook on the partnership, Williams did not let go.


"Do you mind if I just hold your hand for a minute?" he asked Chen. "Because I don't touch people anymore."


::


Short and stout with thick sideburns and sparkling blue eyes, Williams is full of gratitude these days, tearing up easily when chronicling what he has lost — and gained.


But then, hardship notwithstanding, he has always been prone to optimism.


Williams grew up poor in a small pink trailer in Pollock Pines, Calif., and was on his own by the time he was 14, working two jobs while attending high school. He served in Vietnam, then made his way to the San Francisco Peninsula, where his entrepreneurial spirit took flight.


During a dental checkup, Williams asked Dr. Ronald Asti if he had a camera that would let him peer inside patients' mouths. When the dentist said he didn't, Williams replied: "I want to make one."


The intra-oral camera he invented in the mid-1980s was "one of the best things to come around in dentistry," said Asti, who was Williams' business partner. "He was the leader."


But those brilliant ideas didn't necessarily translate into business success, Asti said.


Despite ample cash infusions from a local investor, their company did not reach profitability; in 1991 they sold to Canoga Park-based New Image Industries.


Five years later, Williams turned his next venture into the nation's second-largest manufacturer of intra-oral dental cameras, with more than $13 million in annual sales. But rapid revenue growth was outpaced by marketing and other expenses, and New Image snatched that one up too.


Williams' constant push to turn big ideas into bigger companies landed his family on a roller coaster of success and disappointment. At one point, they had to leave their plush Atherton, Calif., home — with its pool, tennis courts and horses — behind.





Read More..