Saudi Arabia The United States has the largest refining capacity in the world and is still by far the largest consumer of oil in the world (though China is beginning to catch up), and its refineries require 15 million barrels of oil a day. That means even though, due to the shale revolution, domestic production has dramatically increased to about 8 million barrels, the US still has to import between 7 and 8 million barrels of expensive foreign oil a day. Let’s take a look at who the US buys the imported oil from. (Now that I finally figured out my way around the new Windows 8—which, by the way, really sucks—I can even add some color to my tables.) Canada 2.5–3 Millions of barrels exported to US per day Top 10 Things You Didn’t Know Use Compounds Made from Crude Oil Golf balls Toothpaste Soap Aspirin Life jackets Louis Vuitton knock-offs Guitar strings Shoes Soccer balls Pantyhose 0.8 0.8–1.0 Venezuela Mexico But really, I’ve had a pretty good run. Here is my audited return since January 1, 2012 (green column on the left). 1.2–1.5 While the White House spied on Frau Merkel and Obamacare developed into a slow-moving train wreck, while Syria was saved from all-out war by the Russian bell and the Republicrats fought bitterly about the debt ceiling… something monumental happened that went unnoticed by most of the globe. The US quietly surpassed Saudi Arabia as the biggest oil producer in the world. You read that correctly: “The jump in output from shale plays has led to the second biggest oil boom in history,” stated Reuters on October 15. “U.S. output, which includes natural gas liquids and biofuels, has swelled 3.2 million barrels per day (bpd) since 2009, the fastest expansion in production over a four-year period since a surge in Saudi Arabia’s output from 1970-1974.” After the initial moment of awe, pragmatic readers will surely wonder: Then why isn’t gasoline dirt-cheap in the US? There’s indeed a good explanation why most Americans don’t drive up to the gas pump whistling a happy tune (and it has nothing to do with evil speculators). Let’s start with the demand side of this equation. Crude oil consists of very long chains of carbon atoms. The refineries take the crude and essentially “crack” those long chains of carbon atoms into shorter chains of carbon atoms to make various petroleum products. Some of the products that are made from petroleum may surprise you. Good day in the markets Bad day in the markets 0.3–0.5 Country Kuwait Canada is blue because it is not only friendly with the US, but also has the ability to increase oil production. The other countries are red because they either have decreasing oil production, or the country is not on good terms with the US government, or the production may be at risk for various reasons. The “red countries” all sell oil to the US at higher prices than does Canada. As I said, the US imports about 7 million barrels of oil a day, and our top 5 exporters make up between 5.6 and 6.8 million barrels while the rest is split among other countries. This means that even though the US has significantly increased its oil production in the past five years, a good chunk of oil has to be imported at much higher prices. And higher crude oil prices for refineries means higher prices at the gas pump. But that’s not the only issue: The “new oil” produced from the shale oil fields in the Bakken and Eagle Ford formations isn’t cheap. Both the Bakken and Eagle Ford have been hugely successful, and an average well in either region can produce over 400 barrels of oil per day. That may sound like a lot, but drilling thousands of meters into the ground (both vertically and horizontally), then casing and fracking the well, costs millions of dollars. And the trouble doesn’t end once the well has been drilled: oil and gas production can drop as much as 50% in the first year. Think of it as running on a treadmill—but the incline gets steeper and steeper the longer you run. That’s the current reality of America’s oil production. Now, these areas also have to deal with declining legacy oil production (“legacy” meaning older oil wells that produced before fracking became popular) due to depletion rates. Freeze-offs, and even hurricane season can affect the legacy oil wells’ production decline. As the old wells begin to deplete, they need to be replaced by unconventional wells with horizontal drilling and hydraulic fracturing. Even though these new wells provide an initial burst of production, they decline very quickly. That means you need to drill even more wells just to keep up—and the vicious cycle continues. The costs, as you can imagine, are forbiddingly high. Even in known oil-rich regions like the Bakken and Eagle Ford, the all-in cost of extracting a barrel of oil from the ground can cost as much as US$75 per barrel (for comparison, Saudi Arabia can produce oil for as low as US$1 per barrel). To put it in simple terms: cheap oil in North America is a thing of the past. So, the US produces expensive oil and relies on imports of even more expensive oil. And since the refiners need to make money as well, this means higher prices at the pumps. Who loses? The US consumer, of course. What would help lower gas prices? Building more pipelines to deliver cheaper Canadian oil to refineries in the US and decreasing the refineries’ dependence on expensive foreign oil. Until these new and much safer pipelines are built, rail has to pick up the slack. Almost 400,000 railcars full of oil are expected to be shipped in 2013, compared with just 9,500 railcars in 2008, a whopping 41-fold increase. But rail is not the answer. In fact, transporting oil by rail is much more dangerous than transporting it by pipeline. Just last week, we wrote about two recent accidents, one of which claimed 47 lives. Federal and state taxes at every step of the gasoline-making progress make the pain at the pump even worse. The US government already takes more than 60% of the divisible income from every barrel of oil produced… and another 50 cents per gallon at the pump. Then there’s the matter of Obama’s supposed “Green Revolution” and how America would be saved through the use of alternative energies. Obama wrote massive checks to different renewable energy firms that went belly-up, the most famous of them all being solar panel manufacturer Solyndra, whose bankruptcy cost American taxpayers more than $500 million. Obama is also a heavy supporter of ethanol (his home state of Illinois, after all, is the third-largest ethanol-producing state) and has increased the targets for the use of ethanol in transportation. Someone has to pay for all of these subsidies, so why not get the dirty, evil oil companies to pay for them? Keep in mind, though, that the oil companies have enough lobbyists and lawyers to keep the government at bay—so the higher prices will be passed on to the consumers. To sum up why the price of gasoline is so high even though the US is producing so much more oil than before: The high cost of American oil production Even higher costs due to imported (non-Canadian) oil Obama not allowing cheaper Canadian oil to flow to the refineries via pipelines such as the Keystone XL The taxes on crude are used to fund Obama’s green dream—his green-energy “legacy”—and his love for ethanol and the taxes at the pump will not decrease So what does this mean for you, the consumer? You have two options: You can gripe about high gas prices… or you can choose to profit from the situation, no matter how dire. If you’re the former type, so long, and I hope you enjoyed my missive today. If you’re the latter, let’s talk money. Who am I? Well, I kinda look like this guy… I stand by my performance and offer anyone reading this article a guarantee: if you try the Casey Energy Report today and do not think that it’s the absolute best energy newsletter in the business, you get all your money back, no questions asked. I’m not saying I’m perfect (my wife reminds me daily that I’m not ), but I’m willing to put myself out there and offer you a challenge to expand your knowledge and become a better investor. All of my past newsletters, going back to 2006, are up on the Casey website, and I want you to check them out. I have lost money on investments (anyone who says they haven’t is a liar), but I made sure I learned something from every harsh experience. And overall, I’ve made much more than I’ve lost. Our energy portfolio has been delivering +50% gains since January 1, 2012. Right now, I’m the first to publish on what I think is going to send my track record to the moon. I’m on to an investment theme that I believe has the potential to make 10-fold returns for investors who play it right. That theme is the European Energy Renaissance. Doug Casey and I are convinced that new technologies applied in the Old World will bring huge New World profits. But don’t take my word for it—I challenge you to try out my research. Click here to take me up on my 100% money-back guarantee. Additional Links and Reads OPEC Warning of $150 Oil Price If Member Countries Cut Investment (The National) What people often forget about the oil and gas sector is that it is a very capital-intensive business. If companies (or countries) do not consistently re-invest in their production, the amount that comes out of the fields inevitably drops lower and lower. To make matters worse, the demand for oil within petroleum-exporting countries is increasing due to population growth. This means much less will be available for exports, leading to higher oil prices worldwide. Pirates Abduct Two Americans on Oil Ship Off Nigeria Coast (New York Times) Piracy is still a very real concern worldwide when it comes to shipping, adding yet another layer of risk in the global oil and gas trade. Though the phenomenon has died down somewhat in Somalia, we see that piracy is still alive and well in other parts of the world. In the latest event, two American citizens have been abducted in Nigeria. This could be the beginning of a worrying trend of increased piracy around parts of Africa. Final Keystone Review Assesses Potential of Oil-by-Rail Transport (Globe and Mail) US officials are currently considering whether transporting oil by rail is a viable alternative to the pipeline. However, as we have mentioned in previous issues of the CDD, they will soon find that despite the fact that it’s theoretically possible to ship the oil by rail, it will be much more expensive and much less safe. If it comes down to a clash of the lobbyists, however, who knows what could happen?
In This Issue. * Markets think the elections are good for the U.S. * Gold loses $28 and probably more as the day goes on! * Canada gets a renminbi hub! * U.S. Trade Deficit soars to $43 Billion! And Now. Today’s A Pfennig For Your Thoughts. Currencies & Metals Get Ambushed! Good Day!… And a Wonderful Wednesday to you! Right from the top this morning (and before I have a senior moment) I want to say a GREAT BIG HAPPY BIRTHDAY to the lovely Rachel Butler. Oldest son, Andrew’s lovely bride, Rachel. I always think of the first time I met Rachel, it was at the Annual Butler Christmas Party, and I thought, she’s perfect for Andrew! And so it was, a few years later, they were married! Now, she’s a Butler, and a big part of our family. Happy Birthday, sunshine. Well, there’s no sunshine for the currencies and metals this morning, and guess what’s getting blamed for this ambush this morning. The results of the mid-term elections in the U.S. last night, which saw the Republicans gain the Senate for the first time in long time, and the markets are all giddy about this prospect. It seems they think that this will grease the tracks for clearer decision-making to take place. Hey! I didn’t say that, the pundits out there in writer-land did! I’m just reporting what they are associating the ambush on the currencies and metals this morning with. Of course, I could very easily say to them, if they would hear me now and listen to me later, that this is no panacea for debt cutting, and budget balancing. For, when this dollar weak trend began we had the same scenario, expect the President was from the other party. Remember that? So, I guess what I’m saying is that there’s no guarantee that business will recover because of the party in charge. And that’s all I’m saying about this political stuff, because it gets me nowhere, I’ll tick off half the readers, and make the other half not so happy because I didn’t jump up and down in an euphoric dance! But, the damage to the currencies and metals this morning is UGLY. They aren’t just getting hit with the UGLY stick, they are having the whole forest hit them! Gold is down $26 this morning, and looking like it could go even lower. Last night I was reading a report from Casey Research, and the headline of the story read: Sellers Waterboard Gold – Is The Price Torture Over? Well, the markets are answering them this morning, and saying not no, but Hell No! I saw another conspiracy thought yesterday regarding who’s behind this latest drive to get Gold cheaper. The thought centered around the Swiss Gold Referendum. Saying that the Swiss are behind this move to get Gold cheaper, for they believe they will lose the resistance to the Referendum, thus requiring them to buy 1,700 tonnes of Gold, as I explained last week. Well, if they have to start buying, wouldn’t it be better to start at a cheaper price? Of course it would be. But let me ask this question, and don’t get me wrong, the idea is solid, just not the player. Do they really think the Swiss National Bank (SNB) have enough intestinal fortitude to do this? I don’t. But then they did pull of that devaluation of the franc two years ago, and the markets barely batted an eye. Well, this is no fun. watching Gold get ambushed day after day by the paper trades. As I told you yesterday, Koos Jansen reported that China has an insatiable demand for physical Gold, and Russia, and Turkey, and Brazil, I could go on, but just about every county in the East and Middle East are adding to their Gold reserves. Are they doing this for the hell-of-it? Or, are they doing so, because they see something coming down the pike that’s going to be UGLY. Even uglier than this ambush of the currencies and metals this morning by the dollar bugs. But you know. I told you months ago that I thought the dollar was ready to have a short period of strength, and could drive the euro down to below 1.20. I just didn’t think it would come this quickly, which leads me to believe that we could very well see a bounce that’s based on the drop in the currencies was too far, too fast. We usually see that. I’m just saying. OK. on Monday I told you the Big News regarding the direct convertibility of the Chinese renminbi, with Singapore dollars. Well, it was Big News as far as I’m concerned, and let me remind you that in 2008, I began writing about the currency swap agreements that China was signing with one country at a time, and thought that too was Big News, even if most news outlets didn’t see it that way. And then yesterday, in the Canadian National Post, was more Big News. Apparently, this coming weekend, when Canadian PM Stephen Harper visits China, both he and the Chinese will use the visit as an opportunity to announce that Canada (Toronto) will become a trading hub for the renminbi, thus allowing Canadian firms to trade directly in the local Chinese currency, rather than converting loonies in U.S. dollars to do business in China. This is the culmination of the currency swap agreement that was signed last year between the two countries, where they agreed to swap each country’s currency, thus leaving out the U.S. dollar, in the terms of trade between the two countries. Now there is a Hub in Canada, for depositing renminbi, by Canadian firms doing business in China. It just keeps growing bigger and bigger all the time folks. The Chinese drive to gain a wider distribution of the renminbi, which is the number one requirement of a reserve currency! I don’t know of any other way I can emphasize the importance of the news regarding the renminbi this week. I can no longer do handstands or cartwheels (I was a on the “tumbling team” as a young man in elementary school, yes, I know, look at me now, go ahead and laugh, that’s OK, I know that somewhere in this extra-large body is the Chuck that was quite, what my dad used to call, a country athlete) But I digress. What I’m saying is this is absolutely crazy that no news outlets are of the same mind as me and believe this news is important. UGH! I told you yesterday that the Reserve Bank of Australia (RBA) left rates unchanged, and didn’t take their meeting as an opportunity to deep six the Aussie $ (A$). But today, the A$ has lost over 1-full cent. Why? Wasn’t the fall from $1.04 to the low 90-cent range, tied to the weak prices in commodities, namely iron ore? And then the fall from the low 90-cent range to 88-cents due to RBA jawboning the currency lower? And then what’s to blame for this next downward move? I really think the interest rate differential narrowing talk in favor of the U.S. dollar is getting overblown. But it is what it is, right? We have to deal with it. until someone has a V-8 head slap moment, and realize they have been premature with their thoughts about rates in the U.S.. That could take some time, folks, for these knuckleheads have very thick skulls! Or, it could last until the next round of QE is announced. Yes, I know that’s not carved in stone, and it might never happen, but as I said the other day, if it doesn’t ever happen, then I’ll believe that pigs can fly. So, I guess it would be good to talk about when I suspect the next round will come. They were discussing the timing of the next round of QE (QE4) in the 5 Minute Forecast / The “5” last Thursday, and they said that James Rickards pointed out that” the time between the end of QE1 and the start of QE2 was 17 months. The time between the end of QE2 and the start of QE3 was 15 months. So, expect QE4 in late 2015″. And I thought, no, no, no, that can’t be, I see the lack of liquidity and the drop in inflation happening far before that. And then The “5” went on to say that they have this “Oh Sh*t” Graph, that tracks inflation. And funny thing, every time, since 2009, that inflation dropped below 2.2%, the Fed has embarked on another round of QE, and guess what the graph is telling us now? “Uh-Oh, the line has been breached! Inflation has dropped below 2.2% again. Come again, I hear you saying. Are you telling me that we could expect QE4 at any time now? Ahhh, grasshopper, not quite yet. the Fed will have to see that all their hard word of the past 6 years is being undone for sure first. Because consumer inflation can be volatile, but we should continue to look for this to happen. And when it does, all this talk of dollar strength will be reversed, or at least that’s how I see it, it’s my opinion and I could be wrong! Well, the U.S. Trade Deficit widened by an amount that was not seen or forecast by the experts in September, and guess what the culprit was? Well, first let’s talk about the size of the Trade Deficit, which printed at $43 Billion in September, up from $40 Billion in August. The deterioration came from exports falling 1.5% and imports remaining unchanged. So, guess what the culprit was? The relatively stronger dollar. Just another unintended consequence of a strengthening currency on a country that depends so much on exports to offset the imports that are usually quite high. Of course, exports could have been held down too, by the slowing economies of the world. But, these countries still need capital goods, no matter how slow their economies are, just like here in the U.S. we import things like Oil no matter how slow the economy is. The U.S. Data Cupboard was busy yesterday with the Trade Deficit print, and the ugly -.6% negative print of Factory Orders, which wasn’t as bad as August’s -10% print, but ugly nonetheless. The NY regional ISM (manufacturing index) fell from 63.7 to 54.8. That’s a HUGE drop, but these regional reports can be volatile, and I grew tired of reporting on them because they never seemed to have any bearing whatsoever on the National ISM, but this one stuck out like a man with a hatchet in his forehead! Today’s Data Cupboard will begin to get us ready for the Jobs Jamboree on Friday, when the ADP Employment Change report for Rocktober. This report is expected to show that 220,000 jobs were added in Rocktober. The song: The Walker, by Fitz and the Tantrums is playing, and I have the speakers turned up so loud, it’s a good thing I’m here by myself! This is a real wiggle and bounce in your chair song! I had a laugh the other day, when the National ISM report and the Markit version of ISM printed for Rocktober. One showed a HUGE gain in the index up to 59, and the other showed a lower number of 55. Now remember this printed on Monday before the elections yesterday, so guess which one the Gov’t is responsible for printing and which one is a public company. Are you laughing out loud with me on this? That gain to 59 was so trumped up that it made it look ridiculous! The size of the, no wait I can’t say that. I’ll just say that the boys and girls printing that number were brave, eh? I read a story on the Bloomberg this morning that pretty much sums up the data prints in the U.S.. Let’s see what the Bloomie has to say.. “Paul Singer’s Elliott Management Corp. said optimism on U.S. growth is misguided as economic data understate inflation and overstate growth, and central bank policies of the past six years aren’t sustainable. Nobody can predict how long governments can get away with fake growth, fake money, fake jobs, fake financial stability, fake inflation numbers and fake income growth,” New York-based Elliott wrote. “When confidence is lost, that loss can be severe, sudden and simultaneous across a number of markets and sectors.” Amen brother! I think this is bang on, folks. and I’m glad I happened to see it, as I was looking through stuff on the Bloomie this morning. My email box was loaded with emails from the WSJ and Washington Post this morning, giving me the results of the all the races, as if I really wanted to see all those! UGH!, so I spent part of the morning, deleting over 100 emails! Gold isn’t the only metal getting ambushed this morning by the dollar. Silver has a $15 handle, Platinum has lost $25, and Palladium has lost $42 since yesterday morning. OMG! (oh my goodness!) This is crazy folks, just downright crazy! For What It’s Worth. There’s something happening here, what it is, ain’t exactly clear. Yes, I’ve waited a long time to use that line after the FWIW beginning. and today’s piece works out perfectly, for we have some numbers, but it’s just not clear what to make of them yet. I saw the headline on Ed Steer’s letter, and so I went to the site at Newsmax.com to find the story. Are you ready? Yes, I’m ready. “The portion of home purchasers who are first time buyers dropped to 33 percent for the 12 months through June, the lowest since 1987, and down from 38 percent a year earlier, according to a survey by the National Association of Realtors. The average since 1981 is 40 percent. “Rising rents and repaying student loan debt makes saving for a down payment more difficult, especially for young adults who’ve experienced limited job prospects and flat wage growth since entering the workforce,” Lawrence Yun, the NAR’s chief economist, said in a statement. Average hourly wages for all workers rose only 2 percent in the 12 months through September. “Adding more bumps in the road is that those finally in a position to buy have had to overcome low inventory levels in their price range, competition from investors, tight credit conditions and high mortgage insurance premiums,” Yun said.” Chuck again. Chris and I were talking about housing and housing loans yesterday, and in the previous day, we discussed with one of our mortgage guys in Jacksonville, who told us that there is more pressure on banks to give loans to low credit rating borrowers. Chris and I said, isn’t that what got us in this crazy financial meltdown to begin with? And then Mike Meyer chimed in and said, ” Yes, and when it all crashes like it did before, who are they going to blame? The Banks for giving the low credit borrowers loans!” I shake my head in disgust that this is happening again. To recap. The currencies and metals are getting ambushed by the dollar this morning, and it’s all due, according to the stories on the wires, to the Republicans winning the Senate which gives them the ability to set the course for the President’s last two years, and the markets believe this will be clear decision-making. Of course Chuck pointed out that we’ve seen this before, about 12 years ago at the beginning of the weak dollar trend. so, he’s questioning their thought process. (but isn’t Chuck always questioning the markets’ thought processes? HA!) Gold is down $28 as I write, and looks like it could be one of those really ugly days for the shiny metal. Canada will have a hub for renminbi to facilitate trade and allow the direct exchange of loonies and renminbi in the terms of trade. This is HUGE news folks, but don’t tell the news agencies, or the markets, they can’t seem to find their rear end with both hands. Currencies today 11/5/14. American Style: A$.8620, kiwi .7735, C$ .8740, euro 1.2480, sterling 1.5905, Swiss $1.0365, . European Style: rand 11.1495, krone 6.8845, SEK 7.3840, forint 247.45, zloty 3.3940, koruna 22.2830, RUB 44.18, yen 114.70, sing 1.2955, HKD 7.7525, INR 61.41, China 6.1503, pesos 13.63, BRL 2.5200, Dollar Index 87.53, Oil $76.96, 10-year 2.35%, Silver $15.24, Platinum $1,200, Palladium $757.80, and Gold. $1,141.35 That’s it for today. Well, did you get out and vote? It was an ugly rainy day here, so getting out to vote took effort, but I did my part despite the weather. It’s difficult for me on days like this when everything that I believe about economics, markets, and trading is shattered, shaken, and left for dead. But about 7 years ago, after being told I had Stage 4 cancer, I began to have a different outlook about those things I couldn’t control. I have no control over the markets, or the people that make up numbers for economic reports, or created Trillions of dollars with one stroke on a keyboard, so I work diligently to not let these things get to me. Instead I attempt to focus on what’s important. like Rachel Butler’s birthday today! I understand that we’re going to dinner tonight to celebrate Rachel’s birthday, so that should be fun! Shooting Star is playing their hit song: Last Chance, on the IPod, man that was a big song in the 80’s. They were a Kansas City, Mo band, so they got a lot of air time here in St. Louis. See, there, a little rock history on top of all the other things we talked about today, where else can you get such a wide array of information in one place. Like the Wide World of Sports. Spanning the Globe. And then the sky jumper falls off the ramp. Good and bad. just like the everything else. But the good today is that it is Rachel’s Birthday! YAHOO! And. our catcher, Yadier Molina won his seventh consecutive Gold Glove! WOW! Ok. time to get out of your hair today. that is if you have any left after seeing the ambush. I hope you have a Wonderful Wednesday! Chuck Butler President EverBank World Markets
2 min read Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Tom Brant This story originally appeared on PCMag Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. An academic study suggests people are willing to pay just around $5,000 more for fully autonomous cars than typical vehicles. Add to Queue Study: $5,000 Is the Self-Driving Car Sweet Spot Sometimes it’s tough to make sense of the hodgepodge of technologies that currently describe the “self-driving car” buzzword, from lane departure warning systems all the way up to Tesla Autopilot, not to mention industry jargon like “Level 5 automation.”So why not organize autonomous driving technologies by how much people think they’re worth? That’s what a group of economists and engineers tried to do in a paper published in March, CNET reports. The model suggests that on average, Americans are willing to pay a $3,500 premium for a partially automated car and a $4,900 premium for a fully automated one. For comparison, $4,900 for full automation is very similar to what Tesla charges for its most advanced Autopilot, which costs a little over $5,000.The researchers’ model is based on interviews with 27 potential car buyers in New York City and upstate New York. As you might expect, just four of the New York City residents drove a car every day, while all of the 15 upstate New Yorkers commuted via car daily. The two groups perceived similar benefits from self-driving cars, from increased productivity and safety to easier and quicker parking.After crunching the numbers, the researchers found a fairly even segmentation of the demand for automation: about one-third of people are keenly interested and willing to pay $10,000 or more for self-driving features, one-third are ambivalent and the remainder isn’t willing to pay for automation at any price.As the researchers note, however, one of the key problems with such a study is that it’s based on a hypothetical purchase scenario: their study participants weren’t actually buying a car, and even if they were, there are very few models on the market that come with full automation on the level of the Tesla Autopilot.Still, it’s good to establish a peer-reviewed benchmark for how much self-driving tech should cost at this early stage in its development. If it follows the cheapening pattern of most other technology (and the government continues to urge its inclusion in new cars), you might one day be able to do yoga in your Toyota Corolla on the highway for far less than $5,000. May 10, 2017 –shares Self-Driving Cars Image credit: Tesla via PC Mag Next Article News reporter Register Now »
Entrepreneur Corporate Communications Download Entrepreneur Magazine’s App for Apple and Android 3 min read Next Article Free Webinar | July 31: Secrets to Running a Successful Family Business –shares Image credit: Entrepreneur Access the latest issues of Entrepreneur and enjoy the latest news, videos and how-to articles-in one place, on any of your Apple or Android devices, and on your own terms. Entrepreneur Media Corporate Communications Here at Entrepreneur, we are always seeking ways to make it easier for you to get the information you need to boost your business productivity. We know you’re busy—and reading and viewing the latest business advice, trends and tips should be a bright spot in your day.To improve your Entrepreneur experience, we are excited to announce the latest evolution of our mobile app. In one seamless experience, you’ll find an ongoing stream of the latest news, how-to articles, exclusive interviews and videos from Entrepreneur.com. If you’re a magazine subscriber, you can access the newest issue of Entrepreneur magazine, plus your favorite archived issues, in a new mobile-optimized display that auto adjusts across your devices.Download the Entrepreneur magazine app on your iOS or Android device and enjoy:More Content: View the latest news and videos including trending articles, exclusive interviews, infographics, and more from Entrepreneur.com. Plus, access the latest issues of Entrepreneur magazine.Interactive Features: Now use 3D Touch, Interactive Push Notifications and Save for Later, which allows you to save content and read it later offline on your preferred device (syncs user content across multiple devices) for efficient, practical reading.Easy Read, Optimized Display : Enjoy the same fluid reading experience found right here on our website, no matter what you’re reading (our magazine articles are no longer bound to a fixed PDF layout) or what you’re reading on (the presentation will auto adjust to the device and screen orientation).In short, you can now effortlessly enjoy our magazine and digital content—in one place, on any of your Apple or Android devices, and on your own terms.How Does This Work?Our improved app will retain the Entrepreneur magazine name and we will be phasing out the Entrepreneur Daily app. Here’s how you get it:If you use the Entrepreneur Magazine app on iOS or Android: You don’t need to do anything. Depending on your settings, the app update will automatically update on your device or you may be required to activate the update. That’s it!If you use the Entrepreneur Daily app on IOS: You will need to download the new Entrepreneur magazine app. If you use the Entrepreneur Daily app on Android: You will need to download the new Entrepreneur magazine app. Note: While you will have still access to all our great digital-only content, the full digital magazine articles is only available to subscribers. You can easily upgrade within the app.Thank you for your past and continued readership. We look forward to bringing you the business productivity content you need in an easy-to-read format you’ll enjoy.Download the Entrepreneur magazine app on your iOS or Android device now. Add to Queue Register Now » May 26, 2017 Learn how to successfully navigate family business dynamics and build businesses that excel. Opinions expressed by Entrepreneur contributors are their own.
Apple This story originally appeared on PCMag 2019 Entrepreneur 360 List June 5, 2017 The only list that measures privately-held company performance across multiple dimensions—not just revenue. Add to Queue Apple’s annual Worldwide Developer Conference (WWDC) kicks off Monday in San Jose, where we expect to hear about the new versions of iOS and MacOS, and perhaps One More Thing.We’ll have hands-on coverage from the event floor that day, but for now, here are some of the most prominent rumors and likely announcements making the rounds in the lead up to the keynote.iOS 11 and MacOS 10.13The only true surefire bets for WWDC are new versions of Apple’s mobile and computer software platforms. Most Apple consumers will end up with some or all of the announced features depending on which products they use, and developers are eager to hear what they’ll have to work with, so these will be the stars of the show.Expect the usual updates to core apps like Safari and Mail, with productivity enhancements across the board. Exact feature additions will read more like a wish list since little is known or confirmed currently, but maybe we’ll see announcements like conference calls in FaceTime.Improvements for watchOS and tvOS should also be on display, mainly in the form of more integration into the two main platforms. Increased Siri functionality and unification across the platform might play a big part in the conference, too, especially if the next rumor turns out to be true.Siri speakerApple’s answer to Alexa (and more recently, Google Home) has been long expected, and it seems like this could be the year we finally see one.Whether this is something consumers are itching for remains to be seen — no doubt many interested in a voice assistant have given in and purchased an Amazon Echo or Google Home by now, but the Apple ecosystem could be enough of an incentive to buy. Either way, Bloomberg reports that a Siri speaker has already entered production, so there’s a good chance we see it on Monday.That said, Apple could wait to debut the speaker later in the year, which would be closer to its expected shipping date. If reports are true, it will differentiate itself from the Echo and Google Home with features like virtual surround and, as mentioned, integration with the already ubiquitous lineup of Apple products in millions of homes.MacBook and MacBook Pro refreshesThe standard MacBook and MacBook Pro lines were given some love in 2016 with modest redesigns and, in the case of the Pro, the introduction of the Touch Bar. As such, any announcements about these two lines at WWDC will likely include minor component updates, such as the latest generation Intel processors, rather than major physical or feature changes.There have been some industry rumblings to support this speculation, but it may turn out this traditionally software-focused event saves its MacBook overhaul for a product that might need it a little more attention.New MacBook Air?The Air remains an all-time favorite laptop for many, despite Apple’s relatively infrequent updates to the line. It’s appealing as the cheapest (comparatively) entry in Apple’s laptop line, and did not receive the 2016 refresh its counterparts did. An “if it ain’t broke, don’t fix it” approach makes some sense here, but the most recent MacBook Air was released in 2015, and if Apple skips another upgrade, 2018 is an awfully long wait in computer time.If it does arrive, expect a USB-C only approach, since even the “thicker” 2016 MacBook dropped the larger standard USB ports. The 1,440-by-900-display resolution would almost definitely receive a boost, since it was already on the low side in 2015, and its great battery life may very well creep even closer to 20 hours.Refined iPad ProIf the existing 9.7- and 12.9-inch iPad Pro models don’t do it for you, how does something in the middle sound? Thanks in part to analyst expectations (as reported by Mac Rumors), there’s plenty of buzz suggesting a 10.5-inch iPad Pro will be revealed at WWDC that similar in size to the 9.7-inch model.The extra screen space will be made possible by much thinner bezels — nearly edge-to-edge — so that Apple can fit a larger screen in a smaller body. In fact, it may replace the 9.7-inch version altogether, since it’s essentially the same size with a bigger display. Odds are this won’t be the only upgrade: The usual component updates like better cameras, a new processor, and maybe a new Apple Pencil would fill out the rest of this announcement. Apply Now » Matthew Buzzi Next Article Check out the most prominent rumors and speculation about WWDC ahead of Monday’s keynote. Writer Image credit: via PC Mag 4 min read What to Expect at Apple WWDC 2017 –shares
Facebook is “exploring additional measures” to fight anti-vaccine disinformation, according to Bloomberg. Content discouraging parents from vaccinating their children has been rampant on the site, particularly in Facebook Groups, and may have contributed to a measles outbreak in Washington State. That caught the attention of U.S. Representative Adam Schiff, who wrote a letter to Facebook and Google asking them to address the problem.Schiff noted that Facebook is surfacing and recommending messages that may pose a threat to public health. For instance, the Guardian recently reported that Facebook was accepting and promoting ads from anti-vax groups. “Repetition of information, even if false, can often be mistaken for accuracy,” he wrote. “The algorithms which power these services are not designed to distinguish quality information from misinformation.”Facebook said that it’s “exploring additional measures to best combat the problem,” including “reducing or removing this type of content from recommendations, including ‘Groups You Should Join,’ and demoting it in search results, while also ensuring that higher quality and more authoritative information is available.”The resurgence of measles is of serious concern, with extended outbreaks occurring across regions, and particularly in countries that had achieved, or were close to achieving measles elimination.Google recently said YouTube would restrict video recommendations that “could misinform users in harmful ways,” including anti-vaccine videos. It also said recently that would provide links alongside videos on “historical and scientific topics that have often been subject to misinformation.” Until recently, anti-vax videos topped results for “vaccine” searches, but the top results now appear to be from sites like Last Week Tonight attempting to dispel vaccination myths. However, Robert F. Kennedy’s widely debunked anti-vax documentary is still in the top 10.The CDC notes that vaccines have been proven safe and effective and only result in minor side effects. However, avoiding them can put not just your own children but others at risk, particularly small babies who have yet to be inoculated. “Without urgent efforts to increase vaccination coverage … we risk losing decades of progress in protecting children and communities,” said Unicef’s Dr. Soumya Swaminathan. Add to Queue 2 min read Next Article Register Now » –shares Image credit: Fred Tanneau | Getty Images via engadget Facebook Steve Dent February 15, 2019 Facebook May Take Extra Steps to Remove Anti-Vaccine Misinformation Learn how to successfully navigate family business dynamics and build businesses that excel. This story originally appeared on Engadget Conspiracy theories on the site may have contributed to a measles outbreak. Free Webinar | July 31: Secrets to Running a Successful Family Business
Consumer Reports said it would no longer recommend Tesla’s Model S sedan due to reliability concerns, in a blow to the luxury electric-powered car initially awarded the highest-ever score in the U.S. magazine’s performance ratings.The decision, based on the influential publication’s annual survey of vehicle reliability, sent shares of Tesla Motors Inc reeling and underscored the risk of introducing cutting-edge fuel-saving technology and digital multimedia systems in vehicles.Consumer Reports found “an emerging trend of increased troubles” with a broad range of vehicles that use new transmission technology to boost mileage. The survey was presented by the magazine’s editors at a meeting of Detroit’s Automotive Press Association on Tuesday.The findings illustrate automakers’ challenges as consumers and regulators demand more innovation. Groundbreaking technology comes with a heightened risk of malfunctions over the life of a vehicle, compromising the reliability car owners enjoy from more mature technology.Tesla’s stock fell as much as 11.4 percent before closing down 6.6 percent to $213.03 after the magazine said Tesla owners reported “an array of detailed and complicated maladies” in their Model S sedans.Still, 97 percent of Tesla owners would buy another Model S, the magazine found, citing quick responsiveness on repairs from the Palo Alto-based company “with a minimum of fuss to owners.”One of the most technologically adventurous cars on the market, the Model S registered a worse than average reliability score based on survey responses from 1,400 owners.The battery-powered Model S P85D was lauded in August for racking up the best scores ever in the magazine’s performance tests. But owners complained of rattles, leaks, and problems with the charging equipment, drivetrain and center console displays, Consumer Reports said.”Close communication with our customers enables Tesla to receive input, proactively address issues, and quickly fix problems,” a Tesla spokesperson said. “Over-the-air software updates allow Tesla to diagnose and fix most bugs without the need to come in for service. In instances when hardware needs to be fixed, we strive to make it painless.”Complaints about balky multimedia infotainment systems continue to plague several major automakers, including Ford Motor Co, Nissan Motor Co, Fiat Chrysler Automobiles NV and General Motors Co, the magazine found.Honda Motor Co’s Acura luxury brand fell seven places to No. 18 in the magazine’s ranking of 28 brands because of problems with transmissions and in-car entertainment systems.Overall, Toyota Motor Corp’s Lexus brand was the top-ranked brand in the magazine’s reliability survey. The highest-ranked Detroit brand was GM’s Buick, at No. 7.Fiat Chrysler Automobiles NV’s Fiat brand came in last.(Additional reporting and writing by Alexandria Sage; editing by Bernard Orr, Christian Plumb and Phil Berlowitz) October 21, 2015 Reuters Tesla Next Article Image credit: Olivier Le Queinec / Shutterstock.com Add to Queue The only list that measures privately-held company performance across multiple dimensions—not just revenue. Consumer Reports Drops Its Tesla Recommendation This story originally appeared on Reuters Apply Now » 2019 Entrepreneur 360 List –shares 3 min read
Demystifying Predictive Analytics Jamie SchisslerApril 26, 2019, 4:00 pmJuly 22, 2019 What if you had a crystal ball that could tell you which leads are sales-ready and which need some nurturing? Or what type of content will most engage a specific visitor; which customers are most likely to purchase which products and through which channel; or how much demand will increase during peak holiday time?This is predictive analytics: The statistical analysis and identification of attributes that have a direct correlation to a future event or condition. There’s been so much hype about predictive analytics recently that it’s easy to forget it’s been around for over 50 years — from weather forecasting and flight planning to consumer credit scoring and fraud detection. From a marketing perspective, the accuracy it provides and the predictive opportunities it creates can substantially minimize risk while driving tremendous efficiency and performance gains. What is new is the availability of predictive analytics. Once the luxury and secret sauce for only the largest brands staffed with deep data and analytics teams, expertise, and infrastructure, PA is available to organizations and business of all sizes.So, how can marketers drive adoption, establish predictive analytics competency, and use it to create better outcomes for businesses and experiences for customers? Let’s break down some of the basics. Recognize the power of segmentationTraditional marketing segmentation is about grouping audiences by historical attributes like age, gender, geography, etc. The emphasis of this approach is on understanding what individual consumers have done in the past and/or who they are at this moment in order to better focus and calibrate the brand’s sales and marketing efforts.Predictive analytics can also be thought of as a segmentation strategy. The difference is it employs algorithmic models against much of the same underlying data in order to identify and group customers by what they are likely to do or prefer. As such, it’s useful to think of and approach predictive analytics as a segmentation strategy to identify customers by future behavior, such as those who are likely to travel soon, renew a lease, upgrade, or refer a friend.Read More: How AI will Change the Game for Influencer MarketingDefine specific business cases and develop effective strategiesThinking of it as a segmentation strategy, it’s helpful to begin by defining those groups that represent the greatest opportunities or needs for your business. Perhaps your primary goal is lead velocity. Or maybe it’s churn reduction or lifetime value. Focus on one or two to start, otherwise, you’ll get overwhelmed quickly.After you’ve defined your business and use cases, you’ll need to develop a strategy for how you are going to engage that audience. It’s one thing to be able to identify customers who are likely to do something. It’s another to figure out what that means for your business and how you are going to act on it. Both elements – identification and treatment strategy — are essential.Identify the right data Before rolling up your sleeves and diving into the data science and algorithms, identify the data required for your model. In some cases, you may find you simply don’t have the attributes or volume to create the segment with the degree of probability required. Focus on what you can do with the data you currently have, while simultaneously working on a longer-term roadmap and action plan, complete with business cases.Read More: 3 Ways Mobile Technology is Changing the Brick-and-Mortar ExperiencePrioritize consumer trust and respectA few years ago a Target employee infamously used individual purchase data to build a model that would predict, with tremendous accuracy, which of its customers was likely pregnant. The audience was then subtly targeted with specific relevant products via direct mail. This example provides several important lessons when embarking upon predictive analytics. It underscores the potency and accuracy of predictive analytics while demonstrating that it doesn’t take a huge staff to develop and implement (though it does require a lot of data). More importantly, it demonstrates that in all things, trust and respect matter. The creep factor, invasiveness, and breach of privacy and trust in this application was a bridge too far.To avoid such pitfalls, marketers should ensure there is governance and oversight in how predictive segments are defined and utilized. Socialize internally the segments the organization seeks to create and why, balancing out the needs of the business with customer preference, perception, privacy, and experience.The power of predictive analyticsThe predictive analytics landscape is an incredible opportunity to streamline the customer journey, deliver better experiences and value to your audiences, and boost overall business performance. Brands such as Netflix, through its recommendation engine, and Marriott are using PA to deliver messages at key decision points. Marriott uses it for better insight on the types of travelers likely to stay at their properties; for insight on and understanding of what attracts travelers to it over other brands; and to better understand the unique travel patterns and needs of those who travel for business versus those who travel for pleasure.What’s really exciting is not just what brands can do with PA, but that the variety of PA technologies and solutions available today make it accessible to every organization. Plan carefully and deliberately, advance incrementally, and implement governance that reflects your organizational values and goals and you’ll be on your way to delivering exceptional customer experiences and accelerating growth.Read More: Eye Rolls at Pre-Rolls: How to Escape the Trap of Annoying Ads customer experienceMarketing TechnologyMarriottNetflixpredictive analytics Previous ArticleWhy Senior Business Leaders Should Care About CX DataNext ArticleWhy Measurement is the Secret to Agency Success
Source:https://www.escardio.org/ Reviewed by James Ives, M.Psych. (Editor)Feb 5 2019Anti-inflammatory biologic drugs used to treat severe psoriasis have the potential to prevent heart disease in patients with the skin condition, according to research published today in Cardiovascular Research, a journal of the European Society of Cardiology (ESC). During one year of treatment, biologic therapy improved coronary artery plaque similar to the effect of a low-dose statin.”Psoriasis severity is related to the burden of coronary disease – our findings suggest treating the psoriasis may potentially benefit coronary heart disease,” said study author Dr Nehal Mehta, Chief of Inflammation and Cardiometabolic Diseases at the National Heart, Lung, and Blood Institute (NHLBI), National Institutes of Health (NIH), Bethesda, Maryland, US.Psoriasis causes scaly skin patches, often on the elbows, knees, scalp, and lower back. Patients with the skin condition have an elevated risk of heart disease – young patients with severe psoriasis are at twice the risk of having a first heart attack at 40-50 years of age.Psoriasis patients often have inflammation throughout the body and may be treated with anti-inflammatory biologic therapy when their skin condition is severe and topical treatments or phototherapy have failed. This study investigated whether treating severe psoriasis with a biologic could improve the health of the coronary arteries.The study found that patients with severe psoriasis who took biologic therapy for one year had an 8% reduction in total and non-calcified coronary plaque burden, a frequent cause of heart attacks (see figure) – similar to the effect of a low dose statin. The make-up of coronary plaques also improved in those taking biologics, making them less risky. Coronary plaque burden increased by 2% in patients who did not take a biologic.Dr Mehta said: “We found that these anti-inflammatory drugs commonly used to treat severe psoriasis also improve plaque in the coronary artery making them more stable and less likely to cause a heart attack. This occurred in the absence of changes in traditional cardiovascular risk factors including blood pressure and blood lipids.”Related StoriesStroke should be treated 15 minutes earlier to save lives, study suggestsCutting around 300 calories a day protects the heart even in svelte adultsCancer incidence among children and young adults with congenital heart diseaseDuring the one-year study, systemic inflammation assessed by blood markers reduced only in the group taking biologic therapy. Dr Mehta said it is too early to say whether biologics exert their effects on coronary plaques directly or by reducing systemic inflammation.He said: “This preliminary study provides the first evidence that biologic therapy is associated with coronary plaque reduction and stabilization, and provides strong rationale for conduct of a randomized trial testing the impact of biologic therapy on the progression of coronary disease in patients with psoriasis.”Dr Mehta noted that some patients with severe psoriasis opt not to take a biologic medicine because they suppress the immune system and may increase the chance of infection. In addition, they must be injected.Previous research has shown that in heart attack patients, anti-inflammatory biologic therapy reduces the risk of another cardiovascular event.2 “With the results of that study and our current one, my message to patients with psoriasis is to take untreated inflammation seriously,” said Dr Mehta. “When someone has severe psoriasis, they are at higher risk of heart attack and treating the psoriasis may reduce that risk.”The observational study included 121 patients with severe psoriasis who qualified for biologic treatment. Of those, 89 took biological therapy (one of three types) and 32 used topical treatment. All patients underwent imaging of their coronary arteries with computed tomography angiography at baseline and one year later to assess the amount and characteristics of plaques such as the necrotic core which causes plaque rupture.