A Brief History of LinkedIn

A Brief History of LinkedIn
by  on May 05, 2013

From a handful of guys in a living room to 225 million members around the world. Join us for a look back at where we’ve been over the last decade. Thanks to our amazing members for being a part of our journey.

Why Productive People Have Empty Schedules; Lessons on guarding your time by Warren Buffett, Peter Drucker, Charles Dickens, Reddit CEO Yishan Wong, and others. Nearly all creators spend nearly all their time on the work of creation




Back in 1991, Warren Buffett met Bill Gates, though as he tells Levo League, neither of them were excited to see one another. But it turned out they had a great time talking–and during the course of the conversation, Buffett pulled out the little black date book that he carries in his pocket. He flipped through it: the pages were practically empty. “You’ve gotta keep control of your time,” Buffett says, “and you can’t unless you say no. You can’t let people set your agenda in life.” Read more of this post

Berkshire CEOs Spend Quietly, Match Buffett on Heinz Deal; “Warren’s not a manager,” Iscar’s Wertheimer said. “He’s a teacher for all of us.”

Berkshire CEOs Spend Quietly, Match Buffett on Heinz Deal

Warren Buffett stole headlines when he committed $12.1 billion in a deal to take ketchup maker HJ Heinz Co. (HNZ) private this year. Managers at his Berkshire Hathaway Inc. (BRK/A) spent as much in 2012 while attracting less attention.

Executives who gathered last week for Berkshire’s annual meeting in Omaha, Nebraska, said in interviews that they plan to spend even more this year as they upgrade a rail network and energy utilities, expand manufacturing capacity and hunt for additional acquisitions.

Buffett, 82, relies on chief executive officers of the operating units to make deals and invest in plant and equipment to build the businesses and widen their competitive advantage. That helps slow the accumulation of cash and reduces the need for Buffett, Berkshire’s chairman and CEO, to find other uses for the money.

“If I don’t take my own cash flow and reinvest, all I do is add to his problems,” said James Hambrick, CEO of chemical maker Lubrizol, which Berkshire bought in 2011.

Hambrick’s unit plans to spend about $1.4 billion over the next three years as it replaces equipment and adds capacity to manufacture products like chlorinated polyvinyl chloride, a plastic that’s used for pipes in buildings. Even after similar spending and acquisitions in recent years, Lubrizol has still sent money to Omaha for Buffett to allocate, Hambrick said. Read more of this post

Bernanke Warns of ‘Important Risks’ in Wholesale Funding Markets

Bernanke Warns of ‘Important Risks’ in Wholesale Funding Markets

Federal Reserve Chairman Ben S. Bernanke said risks persist in wholesale funding markets used frequently by Wall Street brokers to finance securities trading.

“Important risks remain in the short-term wholesale funding markets,” Bernanke said today in the text of a speech at a Chicago Fed banking conference. “One of the key risks is how the system would respond to the failure of a broker-dealer or other major borrower.”

Bernanke outlined how the Fed has overhauled risk monitoring since a collapse in mortgage finance triggered a crisis in 2008 that led to the worst recession since the Great Depression.

“More work is needed to better prepare investors and other market participants to deal with the potential consequences of a default by a large participant in the repo market,” Bernanke said. He said that the “possibility of a run” on money-market funds remains. Read more of this post

Correlation between S&P 500 and Initial Jobless Claims

The Most Beautiful Correlation In The Market Continues To Work Perfectly

Joe Weisenthal | May 10, 2013, 4:52 AM | 6,664 | 18

We’ve been posting this chart for ages, and been marveling forever at how beautiful it is, and it just never ceases to amaze us. The relationship between initial jobless claims (red line) and the S&P 500 (blue line) has held remarkably strong for years now. Initial jobless claims hit a brand new post-crisis low yesterday, and of course, the S&P 500 is making brand new highs. Showing this chart is the perfect counterpoint to anyone saying that this is all a “Fed-driven” market and that there’s no real-economy improvement to back it up.


No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy ‘Go Shop’ Options

No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy ‘Go Shop’ Options

Adonis Antoniades Columbia University – Department of Economics

Charles W. Calomiris Columbia University – Columbia Business School; National Bureau of Economic Research (NBER)

Donna M. Hitscherich Columbia Business School – Finance and Economics

April 30, 2013
Columbia Business School Research Paper No. 13-25

We study the decisions by targets in private equity and MBO transactions whether to actively “shop” their initial acquisition agreements prior to the shareholders’ approval of those contracts. Specifically, targets can insert a “go-shop” clause into their contracts, which permits them to use the agreement to solicit offers from other would-be acquirors during the “go-shop” window, during which the termination fee paid by the target is temporarily lowered. We consider the “go-shop” decision from the theoretical perspective of value maximization under asymmetric information, and also consider conflicts of interest on the parts of management, bankers, and attorneys that might affect the decision. Empirically, we find that the decision to retain the option to shop an offer is predicted by various firm attributes, including larger size, more fragmented ownership, and various characteristics of the firms’ legal advisory team and procedures. These can be interpreted as reflecting a combination of informational characteristics, litigation risk, and attorney conflicts of interest. We employ legal advisor characteristics as instruments when analyzing the effects of go-shop decisions on target acquisition premia and value. We find, as predicted in our theoretical framework, that go-shops are not a free option; they result in lower initial acquisition premia, ceteris paribus. Our theoretical framework has an ambiguous prediction about the effects of go-shop choice on target firm valuation. Consistent with theory, we find no significant effect on abnormal returns from choosing a “go-shop” option.

Air Pollution Raises Risk of Diabetes Precursor in Kids

Air Pollution Raises Risk of Diabetes Precursor in Kids

Exposure to air pollution raises the risk of resistance to insulin, a typical warning sign of diabetes, according to a study of almost 400 German children.

Insulin resistance climbed by 17 percent for every 10.6 micrograms per cubic meter increase in ambient nitrogen dioxide and by 19 percent for every 6 micrograms per cubic meter increase in particulate matter in the study of 10-year-olds. The findings were published today in Diabetologia, the journal of the European Association for the Study of Diabetes.

The study adds to previous research that showed a link between traffic-related air pollution and the development of diabetes in adults. Those studies have shown that exposure to fine pollution particles that invade the breathing system and get into the heart and blood vessels increases inflammation, which may be linked to insulin resistance, said Joachim Heinrich of the German Research Center for Environmental Health, one of the study authors.

“Given the ubiquitous nature of air pollution and the high incidence of insulin resistance in the general population, the associations examined here may have potentially important public health effects,” Heinrich said in the published paper.

Diabetes occurs when blood-sugar levels are too high. In the Type 1 form of the disease, the body is unable to produce insulin, the hormone used to convert blood sugar into energy. In Type 2 diabetes, the body either can’t produce enough insulin or becomes resistant to its effects. Read more of this post

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