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Who will referee billion-dollar sports betting industry?

In this Monday, May 14, 2018 photo, people make bets in the sports book at the South Point hotel and casino in Las Vegas. Now that the U.S. Supreme Court has cleared the way for states to legalize.....»»

Category: newsSource: philippinetimes philippinetimesMay 16th, 2018

Detaining immigrant kids is now a billion-dollar U.S. industry

Dignitaries take a tour of Southwest Key Programs Casa Padre, a U.S. immigration facility in Brownsville, Texas, where children who have been separated from their families are detained. The America.....»»

Category: newsSource:  philippinetimesRelated NewsJul 14th, 2018

Black Panther continues box-office romp

LOS ANGELES — Black Panther continued its record-setting romp this weekend, passing the half-billion-dollar mark in only its third week out in North America as it stayed on track to be one of the highest-grossing films ever, industry analysts said. The Disney/Marvel collaboration, starring Chadwick Boseman as the superhero king of an idyllic if fictional […] The post Black Panther continues box-office romp appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 6th, 2018

Cuban s tanking talk raises key issue for NBA

By David Aldridge, TNT Analyst The NBA fined Dallas Mavericks owner Mark Cuban $600,000 for being honest. Cuban told Naismith Memorial Hall of Famer Julius Erving on Erving’s podcast a couple of weeks ago that he told his players during a recent dinner that “losing is our best option. Adam (Silver) would hate hearing that…(but) we want the players to understand. As a player, you know that even though you may not agree, but at least if you respect the fact that someone took the time to talk to you, and you understood their perspective, you’re going to give me your feedback, but you’re part of the process.” But the league fined Cuban for what it called “public statements detrimental to the NBA” three days later. And Silver sent a memo to all 30 teams last week detailing the league’s position. “Throughout this period,” Silver wrote, “we have been careful to distinguish between efforts teams may make to rebuild their rosters, including through personnel changes over the course of several seasons, and circumstances in which players or coaches on the floor take steps to lose games. “The former can be a legitimate strategy to construct a successful team within the confines of league rules; the latter -- which we have not found and hope never to see in the NBA -- has no place in our game.” Yet Cuban did not in any way, nor has any evidence to the contrary emerged, state the Mavericks were losing games on purpose; that is, players were intentionally missing shots, or not putting forth effort on defense to let the other team score, or anything like that. (Even Silver acknowledged in the memo that the league has “no basis at this time to conclude that the Mavericks team is giving anything less than its best effort on the court, and Mark has assured us that this is not the case.”) So, why the fine? Was what Cuban said so incendiary? ‘’Mark knew his comments were public, so it surprised me that he was so candid, but that's who Mark is,” said one very high-ranking official from another team over the weekend. “To me his comment wasn't indicating tanking as their strategy but more about setting the expectation that playoffs were not a possibility. The only consolation of not making the playoffs is being in the lottery. You can't blame a team from trying to turn the lemon (losing) into lemonade (top 4 pick). The league needs to find a way not to reward losing.” Exactly. What Cuban said was spot on -- losing to improve the Mavericks’ Draft position was, and is, the best and quickest way for Dallas to get better and start winning games again. That doesn’t mean everyone agreed with Cuban being so blunt. “I think it was a totally inappropriate to say that to players,” said another extremely high-ranking team official for another team. “Whatever the team’s strategy may be, I firmly believe that the players should always play to win. The fine is meaningless to Mark; in fact, sometimes I think he enjoys the publicity he gets from the fines.” But. We ask people to be truthful and not lie about their intentions. We tell our kids that no lie is worth telling, and that telling the truth, no matter how painful, is always the best choice. So Cuban is honest and tells the truth, that short-term losing makes more sense for his franchise’s long-term interests, and he’s relieved of 600 large by the league. Meanwhile, the Philadelphia 76ers are lauded -- and revel in their slogan, “Trust the Process,” celebrated by the team’s most ardent supporters -- whose central tenet was to lose, and keep losing, until you could draft a player good enough to build around and win down the road. Which is, exactly, what Dallas is doing now. Indeed, increased tanking is the logical extension of an analytics-dominant league. If three is greater than two -- the reasoning behind the primacy of the 3-pointer in today’s NBA -- then doing anything you can to get more ping-pong balls in the hopper is the correct thing to do. You can’t just embrace the parts of doing it by the numbers that are pleasant. This is the flip side. Burying one’s head in the sand and pretending teams don’t do this doesn’t make sense. Everyone does it in every sport, or don’t you recall “Suck for Luck,” the chant of Indianapolis Colts’ fans before the 2012 NFL Draft? What of Major League Baseball’s Houston Astros losing 324 games from 2011-13? Were they trying to win games, or did we all imagine them going from $102 million in payroll in 2009 to $26 million by 2013? “I resist the word ‘tanking,’ but I’m very pro ‘rebuilding,’ when it’s necessary,” said Los Angeles Dodgers President Stan Kasten, who in a former life ran the Hawks as general manager in the ‘80s and ‘90s, by telephone Sunday. “And, it’s painful,” Kasten said. “You’ve got to explain it to your team, your fans, to your front office, to your coaches, to your wife, to your kids, to the country club. It’s hard. It’s painful. It’s nobody’s first choice. But if it’s necessary, it’s often the quickest way to get the team back to winning. And don’t lose sight of that.” Kasten’s Dodgers lost the World Series to the Astros, who methodically built their team the last four years around young drafted players like Series MVP George Springer, last fall in seven games. But not only is he not angry with Houston for the way management took the franchise’s foundation to the studs -- compared with his high-spending Dodgers -- he admires the speed with which they went from worst to first. “I have real feelings about what they did,” Kasten said. “Because Mark Walter (the CEO of Guggenheim Partners, the global firm that bought the Dodgers in 2012) and I, before we bought the Dodgers, we were looking at Houston. Because they were available. And truthfully, when we looked at where they were, we were going to do the same thing. It had to be done. Because they were not on a track to win. And frankly, I don’t think I could have done it as fast, or as well, as (Astros owner) Jim Crane, or (GM) Jeff Luhnow. Because doing that, to the extreme, takes real intestinal fortitude.” Kasten makes a strong distinction between a team cutting payroll and going young and that winds up losing, and one that’s actively seeking ways to lose more games. “All of these owners are hyper-competitive, and they want to win,” Kasten said. “And truthfully, the quickest way to win, at least if you look at the last three world champions, is to rebuild and get young and get prospects and do it that way. And if you don’t think that’s the better way to go, ask the fans in Houston and Chicago and Kansas City how they feel. You won’t get one fan who disagrees with what is done. It is the quickest way to win.” Please do not misunderstand. I hate tanking. I hate the idea of introducing losing into your shop, even indirectly. It’s like a virus, extremely difficult to get rid of once it gets in a franchise’s bloodstream. A ticket is, in essence, a contract between parties: I pay top dollar, you give me top-dollar product in exchange. When a team tanks, it violates that compact; I don’t recall any team that’s given fans a tanking discount. It is also very difficult to tank effectively in the NBA. The last three teams with the best odds of getting the No. 1 in the Draft going into the Lottery -- Boston (2017), Philadelphia (2016) and Minnesota (2015) -- have indeed won. But prior to that, the team with the best odds didn’t get the first pick for 10 consecutive years, and 22 times out of the last 25 years. And even the teams that did buck the odds and get the first pick often picked wrong, or did I miss Anthony Bennett Night in Cleveland, or the Andrea Bargnani statue outside of Air Canada Centre? “The Draft is often a crap shoot anyway,” the official from the second team said. “So why not give your fans the best product that you can and then draft Donovan Mitchell,” as Utah did this season. The Jazz traded for the rights to the Kia Rookie of the Year candidate, who was taken near the bottom of the Lottery (13th overall by the Denver Nuggets). This came a season after the Jazz went 51-31 and won its first-round playoff series. I agree. Tanking does not reward excellence in team building -- good drafting, good free-agent signings, good player development -- it rewards the exact opposite of that. It’s a Golden Ticket that doesn’t even require you to buy an Everlasting Gobstopper. But, tanking is reality. You can’t pretend it isn’t. And the only way to completely get tanking out of pro sports is to eliminate the Draft in all sports, including the NBA. We don’t want to have that conversation, do we? Personally, I’d love it. Can you imagine the fight that would set up between interested teams -- and who wouldn’t be interested? -- in a certain 7-foot-1 freshman center almost certain to leave school early who currently plays for a school that’s been in the news for all the wrong reasons lately? Would he help the Lakers? The Knicks? The Bulls? The NBA team in the state in which the college player currently plays, which rather desperately needs another star to pair with its one really great player (whose name, if you must know, rhymes with “Nevin Cooker”)? Would he help any team in the league that doesn’t currently employ Anthony Davis, Joel Embiid or Karl-Anthony Towns in the middle? Most assuredly. And if he could control where he wanted to go, and for how much, the process would be must-see TV. Yet, while the real-world implications would be fascinating, I’m not sure how you could eliminate the Draft without loosening the underpinnings of the entire pro basketball enterprise (and, yes, one could make a moral case for doing just that, as it does go against the whole Manifest Destiny thing to artificially bind someone to a company rather than letting them market their services to the highest bidder). If there was no Draft, why would any player with Lottery-level talent go to college? Yes, there would be the occasional Grant Hill/unicorn who wants to go to college to better themselves intellectually and/or embrace the person growth that often comes from being on your own for four years. But, while sad to say, most kids with NBA dreams go to college because that’s the path through which they can ultimately get to the pros the fastest. With no Draft, and few of the top college-age players thus needing/wanting to go to college, you’d have a very different March Madness than you have now. And as that is a multi-billion enterprise, both for the broadcast networks that air it (including Turner Sports, which runs NBA.com) and the colleges that reap the financial deluge it produces, the likelihood of across the board support for a new player acquisition model is slight. Not to mention, you’d have a much different salary structure in the NBA, as there would be no rookie slotting for drafted players. And if you think the game’s superstars would stand idly by and watch more of that cheddar that they helped produce go out the door to guys who haven’t yet done anything … you’d be wrong. So, the Draft isn’t going anywhere. Which means the NBA must decide whether it wants to continue to be shocked, shocked that tanking is going on in its league, or accept the reality that there is not much patience for being in the middle ground in a league where every team is now worth more than $1 billion. There is only, as Pat Riley said a long time ago, winning and misery. Longtime NBA reporter, columnist and Naismith Memorial Basketball Hall of Famer David Aldridge is an analyst for TNT. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsMar 6th, 2018

Australia tourism faces threat

SYDNEY- Australia’s multi-billion dollar tourism industry is under increasing threat from climate change with some of the nation’s top natural wonders in the firing line as temperatures and sea levels rise, a study warned Thursday. The report by environmental advocacy group the Climate Council said the government needed to do….....»»

Category: newsSource:  journalRelated NewsFeb 8th, 2018

Macau faces major challenges if China casino monopoly ends

HONG KONG — A plan to allow gambling on the Chinese island of Hainan and pave the way for casinos less than 300 miles (480 kilometers) from Macau could pose a challenge to the $33-billion industry fueling revenue for Las Vegas Sands Corp. and Wynn Resorts Ltd. Government agencies are considering allowing online betting and […] The post Macau faces major challenges if China casino monopoly ends appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsFeb 5th, 2018

Panthers sale sparks buzz in political, business circles

By Steve Reed, Associated Press CHARLOTTE, N.C. (AP) — The stunning news of the rare opportunity to purchase an NFL team has quickly garnered the attention of sports figures, business investors and politicians alike. Amid reports of sexual and racial remarks made by Carolina Panthers owner and founder Jerry Richardson in the workplace, he has unexpectedly announced that he is selling the NFL franchise after this season ends. It was a bombshell that rocked the Carolinas, and generated shockwaves inside and out of the organization. The team Monday promoted Tina Becker as COO and gave her full control of the day-to-day operations. Becker said in a release that “these have been some of the most difficult days of my 19 years with the Panthers.” She added that her immediate focus will be on corporate side of the organization, “while addressing the real concerns that have been raised in recent days.” Richardson, meanwhile, stepped away from daily responsibilities to focus on the sale of the team — which will come with a multi-billion dollar price tag. That’s what is known, but Richardson’s decision to walk away after nearly 25 years as owner has left more questions than answers about the franchise’s future — most notably, who will buy it and will they keep the team in Charlotte. Charlotte Mayor Vi Lyles said she is committed to working to keep the team in Charlotte. “The City of Charlotte values its long-running relationship with the Panthers after more than 22 seasons of NFL football,” Lyles said in a statement to The Associated Press. “The Panthers are part of Charlotte’s fabric. We’ve celebrated victories and anguished over defeats. We understand transitions are inevitable, and we look forward to working with current and future ownership.” The Panthers are tethered to Charlotte through the 2018 season because of an agreement on an $87.5 stadium renovation between the city and the team in 2013. That renovation is nearly complete. But a buyer could potentially purchase the team and move it in 2019. Former North Carolina Gov. Pat McCrory, who was mayor of Charlotte when the Panthers settled into their new stadium, has seen both sides. He also was the mayor when the Hornets left town. He said another question might be about Bank of America stadium. “Will (the new owners) ask for government subsidy to continue to improve the stadium, or, in fact, even build a new stadium, like what’s happened in Atlanta and Dallas?” McCrory said. “That would be a tall order.” He said it will be a business decision— and the highest bidder will get the team, to possibly do with it as they chose. “Unless the NFL steps in and says, ’No, you need to have a local ownership group,’” he said, “which I’d encourage them to do.” Panthers coach Ron Rivera was “a little taken aback” when Richardson informed him Sunday night of his decision to sell the team. But he too believes the Panthers should remain in Charlotte. “This organization has been a source of pride and goodwill and I would like to it continue,” Rivera said Monday. “This is a great community with a very supportive fan base that has been out there for us. They have been here for me and this football team and I hope that somehow it is able to stay here.” The chance to purchase an NFL team has potential suitors coming out of the woodwork. Rapper and actor Diddy indicated his interest in purchasing the Panthers on Twitter moments after Richardson’s announcement. Two-time NBA MVP Stephen Curry, a Charlotte native, chimed in with “I want in!” NFL quarterback Colin Kaepernick has also expressed interest. Other businessmen with Charlotte connections could show interest as well. Speedway Motorsports chairman Bruton Smith and his son, CEO Marcus Smith, have previously expressed interest in purchasing the Panthers should the opportunity arise. And the Panthers are loaded with minority owners including real estate magnate “Smoky” Bissell, Family Dollar founder Leon Levine and members of the Belk family. Developer Johnny Harris, who was instrumental in luring the Wells Fargo Championship — and later the PGA Championship — to Charlotte, could also decide to increase his ownership stake in the team. Let’s not forget Michael Jordan. The six-time NBA champion owns the Hornets. However, Jordan’s interest level is unknown and his representative Estee Portnoy said she had no comment on the Panthers sale. More names will surely emerge over the next several weeks, but they need to be ready to write a big check. Forbes Magazine recently estimated the Panthers worth at $2.3 billion. And those numbers could be low. Forbes estimated the Buffalo Bills at a net worth of $935 million in 2013, but the team wound up selling in 2014 for $1.4 billion — nearly 50 percent higher than the estimate — according to magazine’s website. Before any sale can be finalized, it will need the approval of 24 of 32 NFL owners. The Panthers have a lot to offer potential suitors: — They are on the cusp of reaching the playoffs for the fourth time in five seasons. — They have sold out 225 of their 227 home games in team history, including 157 straight. — They feature several recognizable stars including 2015 NFL MVP Cam Newton and 2013 Defensive Player of the Year Luke Kuechly. Panthers tight end Ed Dickson said fans don’t deserve to have a team ripped out from underneath them. “It’s growing, it’s definitely been growing,” Dickson said of the fan base. “We are striving to build something that Dallas has, and Pittsburgh has. We don’t have that much history here. But one of the reasons I came here was to be a part of something special. When we do get to the top of the mountain and win a Super Bowl — then we have something to celebrate here” in the Carolinas. At least in 2017 and 2018, after that, it’s unclear where the party would be. ___ AP Writer Skip Foreman contributed to this report......»»

Category: sportsSource:  abscbnRelated NewsDec 19th, 2017

Weird but cute: Japan’s capsule toys play big in Internet age

A tiny replica of an ancient Egyptian sarcophagus and a plastic cat squatting on sushi: just two of the weird-and-wonderful capsule toys that have become a multi-million-dollar craze in cute-obsessed Japan. The industry is now worth an estimated 30 billion yen ($265 million), with the fastidious attention to detail in the toys appealing to the Japanese sense of precision along with a well-documented love of all things "kawaii" or cute. One store, in Tokyo's famous Akihabara electronics district, is crammed with around 500 capsule toy vending machines stretching out as far as the eye can see. "When I see something I want, I keep on turning the crank until I get it,"...Keep on reading: Weird but cute: Japan’s capsule toys play big in Internet age.....»»

Category: newsSource:  inquirerRelated NewsDec 17th, 2017

Tale of 2 cities: Olympics sponsors in Pyeongchang and Tokyo

em>By Youkyung Lee and Mari Yamaguchi, Associated Press /em> SEOUL, South Korea (AP) — The Winter Olympics coming to South Korea in February offer an example of the Olympian efforts often required to meet corporate sponsorship goals. Tokyo tells a different story: The coffers are already overflowing for the 2020 Summer Games. It's a tale of two cities and two Olympics — winter and summer. Pyeongchang is a little-known destination in one of South Korea's poorest provinces. It is the 'little town that could,' bidding twice unsuccessfully for the Winter Olympics before winning on its third try. A final push enabled it to reach its sponsorship target of 940 billion won ($830 million) in September, with just five months to go. Tokyo is an established global capital, and the Summer Games usually generate more excitement — and more money. Organizers have raised 300 billion yen ($2.7 billion) in sponsorship, twice any previous Olympics. International Olympic Committee Vice President John Coates describes it as a remarkable achievement. The divergent experiences of two Asian host cities illustrate the challenges that smaller bidders face, as well as South Korea's dependence on the big family-owned companies that dominate its economy. Not that Tokyo is home-free. The cost of the 2020 Games has nearly doubled from initial projections. As with most Olympics, taxpayers will have to foot a good part of the bill. ___ strong>WHERE 'CHAEBOLS' RULE /strong> Starting with the 1988 Seoul Olympics, South Korea has used mega-events such as the soccer World Cup to raise the profile of the country and its manufacturing exporters. Pyeongchang is different. The project was initiated by local politicians in an area long alienated politically and economically in South Korea's rise to prosperity. Some feared people would confuse the city's name with Pyongyang, the North Korean capital. They couldn't count on the automatic support of the huge family-run conglomerates, known as 'chaebol,' such as Samsung, Hyundai and LG. 'When such mega-events were the nation-state's key project, the chaebol were called on and were expected to become the leading participants,' said Joo Yu-min, a professor at the National University of Singapore who co-authored a book on South Korea's use of mega-events. In the end, the national government brought the conglomerates in, first in the bid process, and then for sponsorship. That underscores both the outsized role they play in the economy and their close ties with government. They owe a debt to special treatment from the government, which in turn used them to industrialize the country after the devastating 1950-53 Korean War. After Pyeongchang's bid was rejected a second time, the government called on Samsung and others to help. The president even pardoned Lee Kun-hee, the patriarch of the Samsung founding family who had been an IOC member but voluntarily suspended his membership after being indicted for tax evasion. The IOC reinstated Lee in 2010 with a reprimand and some restrictions, allowing him to lobby heavily for what became Pyeongchang's winning bid in 2011. It took three years for the organizing committee to sign its first domestic sponsor, KT Corp., the country's second-largest mobile carrier. Again, the national government asked the conglomerates for help. All the major ones signed on, after the office of then-President Park Geun-hye made a special request and multichannel pressures for financial assistance, Joo said. Elsewhere, companies may weigh sponsorship decisions based more on the marketing benefits. 'In South Korea, companies make donations out of a sense of duty that they are being part of the national event,' said Park Dong Min, the executive director overseeing membership at the Korea Chamber of Commerce and Industry. Sponsors who signed up late weren't willing to give as much, because there was less time to enjoy the marketing benefits. A bank that signed on less than a year before the Games significantly reduced its sponsorship. To top it off, a massive sports-related political corruption scandal rocked South Korea in 2016, just when Pyeongchang was making last-ditch efforts to raise sponsorship. 'Companies showed some reluctance' to sponsor the Olympics, said Eom Chanwang, director of the Pyeongchang organizing committee marketing team. 'Nevertheless, they still joined.' The scandal brought down Park, the president. Lee Jae-yong, the heir to the Samsung group, received a five-year sentence for bribery. Lee, who has appealed, had become de facto chief of the Samsung group after his father Lee Kun-hee, the IOC member pardoned in late 2009, fell ill. It was the younger Lee who signed an agreement with IOC President Thomas Bach to extend Samsung Electronics' sponsorship of the Olympics globally through 2020. Samsung declined interviews for this story. With the scandal still fresh in people's minds, major companies have held back from launching full-fledged marketing to promote the Games. 'Samsung traditionally has done consumer marketing through the Olympics, but because its chief is in jail, it cannot do as much these days,' said Kim Do-kyun, a sports professor at Kyung Hee University Graduate School of Physical Education. The Pyeongchang Games were the biggest victim of the scandal, he said. ___ strong>SUMMER OF '64 /strong> The president of Japan's biggest toilet manufacturer was seven years old when the Olympics first came to Japan. TOTO Ltd. made news in 1964 for its prefabricated toilet-and-bath units that helped speed the construction of a luxury hotel, the New Otani, in time for the Games. The company, now known for high-tech toilets that baffle some foreign visitors, is back as a sponsor of Tokyo 2020. 'I feel our company and the Olympics have been bonded by fate,' TOTO president Madoka Kitamura said at a sponsorship signing ceremony at the same hotel last year. The $2.7 billion in sponsorship for Tokyo 2020 is more than three times the original estimate. By comparison, sponsorship revenue was $848 million in Rio de Janeiro last year, and about $1.2 billion for both London 2012 and Beijing 2008. The Winter Olympics typically attract less, though Sochi, Russia, raised $1.2 billion in 2014. Analysts attribute Tokyo's success to both patriotism and a sense of nostalgia for the 1964 Summer Games. They were much more than a sports contest for Japan. They were a moment of pride, marking the country's return as an industrial power after the devastation of World War II and a seven-year U.S. occupation. 'All of Japan still recognizes the unique role that the 1964 Olympics played in Japan's stepping out onto the world stage,' said Michael Payne, a former IOC marketing director who now works as a consultant. 'Many of the CEOs of top Japanese companies would have been young kids back in '64 and are very aware of the role those Games played for the psychological recovery from the Second World War.' They grew up with the high-speed 'Shinkansen' bullet train, inaugurated in 1964; modern expressways and western-style toilets, all symbols of Japan's postwar economic growth. 'Now they have become business leaders, they want to contribute and leave something behind that can be remembered for the next 50 years,' said Masahiko Sakamaki, executive director of marketing for the Tokyo organizing committee. He said that memories of the recovery may have boosted interest in sponsorship, as Japan was still reeling from a deadly 2011 earthquake and tsunami when Tokyo won the bid in 2013. Sakamaki said the organizing committee started receiving sponsorship inquiries as soon as it was established in 2014, before the official start of sponsorship contracts in 2015. There is so much interest that the IOC is allowing Tokyo to have multiple sponsors in some categories, instead of the usual one, including in aviation, newspaper publishing, electronics and banking. TOTO officials won't say how much they are contributing, but media reports say companies in its sponsorship category give between 6 billion and 15 billion yen ($53 million to $133.5 million). Tokyo 2020 wouldn't comment on those reports. 'We believe our presence as part of an all-Japan effort toward a successful Olympics will enhance our favorable brand image,' said Mariko Shibasaki, the company's senior planner for sports communication. Thanks in part to robust sponsorship revenue, the organizing committee has increased its contribution to the cost of the games from 500 billion to 600 billion yen ($5.3 billion). The sponsorship revenue makes up half of the income in the privately-run organizing committee's operating budget. Other revenue comes from the International Olympic Committee, marketing and ticket sales. The overall cost of the Tokyo Olympics is estimated at 1.4 trillion yen (12.4 billion) with the Tokyo government shouldering 600 billion yen ($5.3 billion) and the remaining 200 billion yen (1.8 billion) paid by the national government and local governments hosting events. ___ em>Yamaguchi reported from Tokyo. Associated Press writer Stephen Wade in Rio de Janeiro contributed to this story. /em> .....»»

Category: sportsSource:  abscbnRelated NewsOct 12th, 2017

For Adidas and rivals, sponsorships are good business

em>By David McHugh, Associated Press /em> FRANKFURT, Germany (AP) — Multi-million dollar sponsorship deals of the kind between Adidas and the University of Louisville — in focus after a scandal over alleged bribes paid to high school athletes — are not just an effort to burnish the image of sports gear makers. They can be a cost-efficient way to boost sales against tough competition, marketing experts say. Whether in U.S. college sports or European soccer, Adidas and its major rivals Nike and Under Armour reach potential customers more effectively by getting their brands used in the biggest events, say marketing experts. Criminal charges brought last week against an Adidas marketing executive and 9 others drew renewed public attention to the perfectly legal practice of paying university sports programs to wear branded goods. Gatto and others are accused of funneling $100,000 to the family of a high school athlete to gain his commitment to play at Louisville and to sign with Adidas once he became a professional. Louisville and Adidas announced at 10-year, $160 million extension of their sponsorship deal over the summer. That deal is just one among increasingly expensive arrangements. The top recipients this academic year are UCLA with $16.5 million from Baltimore-based Under Armour, followed by University of Texas with almost $12 million and University of Michigan with $9.8 million, both from Nike, according to the Center for Research in Intercollegiate Athletics at the University of North Carolina at Chapel Hill. Payments have risen as the big three competitors bid for exposure that, marketing experts say, can often be more effective and targeted than expensive television advertising. Universities in the top five leagues, or 'conferences' in U.S. sports speak, are in line to get over $200 million this school year, up from around $100 million just five years ago, according to the center's figures. 'Increased investment by Under Armour starting in the 2014-15 academic year, along with continued investment by Adidas, have led to a re-investment by Nike in the intercollegiate athletics space to retain national powers such as Ohio State and Texas, and bring Michigan back into the fold from Adidas,' the center noted in its latest report. George Belch, chair of the marketing department at San Diego State University's College of Business Administration, put it this way: 'It's expensive, but if you want to sit at the table and play the game, you have to ante up.' How much is too much to spend on endorsements? Academics have been trying to figure out what the returns on investment are and marketing experts say the companies surely have their own internal metrics. But 'only they know exactly what the return is,' said Belch. Jonathan Jensen, assistant professor in the sports administration program at North Carolina, notes that the value of sponsorship deals measure the truckloads of equipment given to the schools at retail price, which is far more than the cost to the company to have them produced. 'When you see $250 million, it's not actually $250 million, it's more like $75 million,' he said. And based on what a 30-second commercial costs, having a team wear the company's gear can far outweighs the investment in terms of valuable exposure. That can be money well spent in an era where people can use digital technology to skim past television commercials. 'They don't need to buy airtime,' Jensen said, 'because they are literally part of the event.' On top of that, favorable licensing deals on merchandise mean that the company can earn back much of its sponsorship money solely from fans buying the jerseys. 'The schools themselves are really just in the past two, three or four years getting smart about negotiating and forcing the brands, especially Nike and Under Armour, to pay what they should be,' said Jensen. Similar calculation applies to sponsorship deals outside the United States. Gerd Nufer, director of the German Institute for Sports Marketing in Reutlingen, attempted to figure out how many jerseys companies would have to sell to repay their endorsement deals with national sports teams at the soccer World Cup. He says Adidas needed to see sales of 1.9 million German national team jerseys retailing for around 80 euros in order to make back its 28 million euros-per year sponsorship deal; when Germany won the cup for the fourth time in 2014, 2 million had been sold even before the final match. By contrast, it is unlikely Nike recouped its full $40 million sponsorship with France through direct sales. But it's unlikely that Nike minded much, as its exposure helped its image building more broadly. 'The fact is that building the image of the overall brand and positive halo effects on all branded products of the company is the most important thing,' Nufer wrote in an analysis. That logic was reflected by Nike in its annual financial reports, which indicate it had contractual obligations to pay $1.1 billion in endorsement contracts in 2017. The company, based in Beaverton, Oregon, noted that the costs of sponsorships had risen as competition from rivals had grown. By losing key partnership deals, it said, 'we could lose the on-field authenticity associated with our products, and we may be required to modify and substantially increase our marketing investments.' 'As a result, our brands, net revenues, expenses and profitability could be harmed. ' Adidas says it spent 1.98 billion euros in 2016 on marketing investments, about half of which went for partnerships. That includes events like the World Cup, UEFA's Euro soccer tournament, and the French Open in tennis. And also sponsorships of national federations including Germany, Spain and Argentina plus deals with high profile individuals: soccer stars Lionel Messi, Paul Pogba, and Gareth Bale; basketball stars James Harden and Derrick Rose; U.S. football players Aaron Rodgers and Von Miller, and tennis players Angelique Kerber and Simona Halep. Adidas, based in Herzogenaurach, German, said it was unaware of misconduct in the Gatto case and vowed to fully cooperate with authorities. The company immediately didn't respond to an email inquiry about its sponsorship spending. The company had a good second quarter, with sales beating predictions and growing 27 percent in North America. 'Adidas has been going gangbusters,' said San Diego State professor Belch. 'They are gaining market share on Nike, they have taken away market share from Under Armour in the U.S. market, and particularly in North America they made a tremendous turnaround.' 'So they didn't need this,' he said, referring to the Louisville scandal. 'That's what's really amazing about this.' .....»»

Category: sportsSource:  abscbnRelated NewsOct 5th, 2017

Trump budget plan shows how he would reshape nation – CNN News

An early glimpse at President Donald Trump's first budget proposal offers the clearest blueprint yet of how he plans to remake the nation. The plan envisages a 10% hike in military spending to be paid for by sharp cuts in other government departments, with the State Department and the Environmental Protection Agency each bracing for a particularly painful hit. If enacted, the plan would involve a radical domestic reshaping of the federal government paired with a shift in the posture of American diplomacy around the world. It is an approach that flows directly from the rhetoric and positions adopted by Trump on the campaign trail playing to his grass-roots supporters' deep distrust of Washington and his &'8220;America First&'8221; political creed. &'8220;This is a landmark event, a message to the world, in these dangerous times, of American strength, security and resolve,&'8221; Trump said Monday. The budget plan comes at a time when the administration is making strenuous efforts to flesh out the ideological and political foundations on which the new GOP White House is built. Top officials, including the President, previewed a strident change of political direction at the Conservative Political Action Conference (CPAC) last week, and Trump will intensify the effort with his first address to a joint session of Congress on Tuesday night &'8212; a crucial moment for the new administration. But the controversial nature of Trump's emerging budget &'8212; always a magnet for partisan opposition &'8212; guarantees a fight that will test the White House's capacity to corral lawmakers and shape public opinion. It also demonstrates a desire to boost military might and de-emphasize diplomatic reductions that will reverberate in foreign capitals of friends and foes alike. Already, a cadre of retired generals and admirals has warned that cutting State Department funding on diplomacy and development would make America less safe. Democrats say they will use every tool at their disposal, which includes the power of the filibuster in the Senate, to block Trump's plans. The President could also face resistance from Republican budget hawks in Congress. Defense hawks, meanwhile, are arguing that the $54 billion dollar hike in defense spending is not enough after years of budget sequestration that capped military funding. It is not yet clear exactly where the cuts will come from. Monday's announcement involved top-line numbers from the 2018 budget sent to government agencies that must now work out how to adjust their spending. Any budget issued by the White House is merely an opening bid, and many soon become worthless documents once Congress, with its competing demands on the public purse, gets to work. Democrats, who could try to frustrate Trump by refusing to lift caps on defense spending by wielding the Senate filibuster, sensed a political opportunity to undercut Trump's appeal to working-class voters as they try to rebuild their party's support ahead of midterm elections next year. &'8220;The budget proposal is a reflection of where the President is at and who he is (and) what today's hard-right Republican party &'8212; which has done this budget through its Cabinet &'8212; believes in,&'8221; said Democratic Senate Minority Leader Chuck Schumer. &'8220;Which is relieve the burdens on the wealthy and special interests, whether they be coal companies or financiers, and put the burden on the middle class.&'8221; But Trump styles himself as a shrewd negotiator steeped in the give-and-take of real estate transactions and is known for making the kinds of bold opening gambits that the budget announcement on Monday represents. The proposals were also formulated directly from the fiery speeches of the President's campaign, which underpinned his belief that he has a mandate for radical change and might make any compromise harder. &'8220;When you see these reductions, you'll be able to tie it back to a speech the President gave, or something the President had said previously,&'8221; Trump's budget director, Mick Mulvaney, told reporters on Monday. &'8220;We are taking his words and turning them into policies and dollars.&'8221; The goals are consistent with the theory of Trumpism laid out by the President's political adviser, Steve Bannon, at CPAC last week, which included a push to &'8220;deconstruct the administrative state.&'8221; Indeed, the budget would remold the federal government by paring back programs introduced by the Obama administration &'8212; for example, EPA regulations on the fossil fuels industry &'8212; and other agency reductions. In practice, according to Mulvaney, that involves a sweeping reset of political priorities. &'8220;It is a true 'America first' budget,&'8221; said Mulvaney. &'8220;It will show the President is keeping his promises and doing exactly what he said he was going to do when he ran for office. It prioritized rebuilding the military, including restoring our nuclear capabilities, protecting the nation and securing the border, enforcing the laws currently on the books, taking care of vets and increasing school choice.&'8221; Still, with Trump vowing not to touch popular non-discretionary spending targets like Medicare and Social Security, his budget team faces a tortuous task in wringing out savings at agencies while preserving room for Trump's promised big tax cuts. Every dollar that is cut from discretionary spending could affect other popular and vital programs, including transportation, conservation, agriculture and commerce &'8212; all of which have powerful lobbies ready to go into battle for their funding. And Trump does not want to tighten the national belt everywhere. For instance, he is proposing spending billions of dollars on his pet project of a southern border wall, though he has promised [&'].....»»

Category: newsSource:  mindanaoexaminerRelated NewsFeb 28th, 2017

Banana industry continues to reel from rebel attacks

MANILA, Philippines - Despite ongoing peace talks between the government and rebel groups, the billion-dollar banana industry continues to be hampered by att.....»»

Category: financeSource:  philstarRelated NewsDec 5th, 2016

Banana industry losing global edge

MANILA, Philippines - Amid rebel attacks and lack of government support, banana stakeholders said the billion-dollar local industry is losing its competitive.....»»

Category: financeSource:  philstarRelated NewsOct 16th, 2016

BOI Investment Approvals Up 19% for Jan-Sept 2018

The Philippine Board of Investments (BOI), the country’s primary industry development and lead investment promotion agency, posted investment approvals worth Php454.8 billion for the first nine months of 2018, a 19.3 percent increase compared to the same period last year where it reached Php381.2 billion. “Investor confidence in the country remains high. The Philippines continues […].....»»

Category: newsSource:  metrocebuRelated News8 hr. 24 min. ago

Superliga finalist in ‘asian oscar’ award

Ahead of the opening fireworks of its All Filipino Conference and inaugural Collegiate Grand Slam, the Philippine Superliga gained international acclaim as it made it as a finalist in the prestigious Sports Industry Awards Asia for 2018......»»

Category: sportsSource:  philstarRelated News16 hr. 45 min. ago

2018-19 NBA referees: By the Numbers

NBA press release NEW YORK – Sixty-five referees will compose the NBA officiating staff for the 2018-19 season.  Below are some numbers and tidbits pertaining to this season’s NBA officials. On The Court · 33 – Ken Mauer is entering his 33rd season as an NBA referee, the most for any current official.  He is followed by Ron Garretson, who begins his 32nd season. · 1,904/238 – Garretson has called 1,904 regular-season games and 238 playoff games, the most of any current official in each category. · 1,408 – Monty McCutchen worked 1,408 regular-season games – along with 169 playoff games (including 16 NBA Finals games) – before stepping off the court last season to oversee day-to-day management and on-court performance of all officials as Vice President, Head of Referee Development and Training. · 20 – Mike Callahan leads active referees with 20 NBA Finals games officiated, followed by Mauer with 19 and Scott Foster with 18. · 37/27 – 37 of the 65 officials (57%) have at least 10 years of experience, while 27 of the 65 (42%) have 15 or more years of experience. · 75.4 – 49 of the 65 referees (75.4%) have worked in the G League. · 33.8 – 22 of the 65 referees (33.8%) have WNBA officiating experience. Off The Court · 3,600 – Senior Vice President and Head of Referee Operations Michelle Johnson logged more than 3,600 flight hours as a pilot for the United States Air Force during her 36-year career. The former three-star general was the 19th Superintendent at the U.S. Air Force Academy, where she was a graduate and the first woman inducted into the Air Force Sports Hall of Fame after a stellar basketball career for the Falcons. · 1987 – President of League Operations Byron Spruell was an offensive lineman and co-captain of the 1987 Notre Dame football team helping future Pro Football Hall of Famer Tim Brown win the Heisman Trophy that season. · 1977 – Mauer earned All-Big Ten honors in 1977 for the University of Minnesota’s baseball team, helping lead the Golden Gophers to the College World Series alongside future Baseball Hall of Famer Paul Molitor. · 87 – NBA official Eric Dalen wore No. 87 as a two-time letterman at tight end for the University of Minnesota. · 12 – NBA official Leroy Richardson spent 12 years in the United States Navy (1982-94), serving as a surface warfare specialist and underwater sea surveillance specialist. · 9 – Historically Black Colleges and Universities are represented by nine referees: Bennie Adams (Southern University); Tony Brown (Clark Atlanta University); Derrick Collins (Xavier University in New Orleans); Sean Corbin (Coppin State University); Courtney Kirkland (Southern University); Karl Lane (Philander Smith College); Eric Lewis (Bethune Cookman College); CJ Washington (Southern University); and Tom Washington (Norfolk State University). · 7 – The NBA referee roster features seven officials who have earned advanced degrees: Adams (MS, Southern University, 1993); Brent Barnaky (JD, Nova Southeastern Law School, 2001); Kevin Cutler (MS, Cal State Dominguez Hills, 2005); Tyler Ford (MA, Ball State University, 2009); Lauren Holtkamp (MS, Drury University, 2004; MDV, Emory University, 2010); Kevin Scott (MS, Georgia Southern University, 2002); and Sean Wright (MBA, University of Mobile, 1996). · 4 – This year’s staff features four second-generation NBA referees: James Capers, the son of former NBA referee James Capers, Sr.; JB DeRosa, the son of former official Joe DeRosa; Brian Forte, the son of Joe Forte; and Garretson, the son of former NBA official Darell Garretson. · 4 – Four referees – Derek Richardson, Leroy Richardson, Wright and Zach Zarba – were born in New York City, the most for any major U.S. city.  New Orleans and Miami have produced three referees each. · 3 – Three officials have served in the U.S. military, including Matt Boland (Connecticut National Guard), Rodney Mott (U.S. Navy) and Leroy Richards (U.S. Navy). In addition, NBA Senior Vice President and Head of Referee Operations Michelle Johnson is a veteran of the U.S. Air Force. · 2 – Two referees were born in Eastern Europe: Marat Kogut (Kiev, Ukraine) and Gediminas Petraitis (Kaunas, Lithuania). · 2 – This year’s officiating staff includes two sets of referees with family ties.  Lauren Holtkamp and Jonathan Sterling are married to each other, while Jacyn and John Goble are the only brothers officiating this season......»»

Category: sportsSource:  abscbnRelated NewsOct 16th, 2018

Pace of dollar remittance growth continues to ease; up 2.4% in Jan-Aug 2018

The amount of dollars sent home by expatriate Filipinos rose further in the first eight months of the year, but data from the Bangko Sentral ng Pilipinas (BSP) also showed a worrisome trend of tapering growth in recent months for remittances, a key leg of the country's economy. In a statement, BSP Deputy Govenor Cyd Tuao-Amador said personal remittances from overseas Filipinos increased by 2.4 percent year-on-year to reach $21.2 billion in the first eight months of 2018. The central bank's data revealed that the monthly rise in the cumulative amounts of remittances this year have been moderating, compared to monthly data for the same periods last year --- a phenomenon which the cen...Keep on reading: Pace of dollar remittance growth continues to ease; up 2.4% in Jan-Aug 2018.....»»

Category: newsSource:  inquirerRelated NewsOct 15th, 2018

Seaweed farmers seek government support

THE seaweed farmers in the country are seeking financial support from the government so they could boost production and cater the global demand. Max Ricohermoso chairman emeritus of the Seaweed Industry Association of the Philippines (Siap) said government assistance is more than needed now especially that the industry has grown to P20 billion. “We need… link: Seaweed farmers seek government support.....»»

Category: newsSource:  manilainformerRelated NewsOct 15th, 2018

DTI organizes innovation conference

On October 23, the innovation conference Slingshot Cebu 2018 will gather start-ups, entrepreneurs, innovators, educational institutions and government agencies at the Cebu City Sports Club. According to the organizer Department of Trade and Industry (DTI), the latest edition of Slingshot Cebu will have the theme of “Revving up your business in a Digital World”. Appropriate […].....»»

Category: newsSource:  boholnewsdailyRelated NewsOct 12th, 2018

YouTube driving global consumption of music

If you are listening to music, chances are you're on YouTube. A music consumer report by the industry's global body IFPI published on Tuesday found that 86 percent of us listen to music through on-demand streaming. And nearly half that time, 47 percent is spent on YouTube. Video as a whole accounted for 52 percent of the time we spent streaming music, posing challenges to such subscription services as Spotify and SoundCloud. But while Spotify's estimated annual revenue per user was $20 (P1,000), YouTube's was less than a dollar. The London-based IFPI issued a broader overview in April that found digital sales for the first time making up the majority of global revenues...Keep on reading: YouTube driving global consumption of music.....»»

Category: newsSource:  inquirerRelated NewsOct 10th, 2018

Najib’s wife charged

KUALA LUMPUR — Rosmah Mansor, the luxury-loving wife of Malaysia’s former prime minister, was Thursday charged with money laundering linked to a multi billion-dollar scandal that helped bring down his government. The 66-year-old pleaded not guilty to 17 charges of money laundering at a court complex where her husband Najib Razak was also making a […].....»»

Category: newsSource:  tribuneRelated NewsOct 5th, 2018