Disney heiress calls CEO Bob Iger’s $65.6 million total compensation ‘insane’

It’s not the first time the Disney heiress and philanthropist has criticized CEO pay. In March, Disney stopped short of commenting on Iger’s pay in an interview on CNBC’s “Squawk Box,” but said, “If your CEO salary is at the 700, 600, 500 times your median workers’ pay, there is nobody on Earth, Jesus Christ himself isn’t worth 500 times his median workers’ pay.” In a series of tweets Saturday, Disney made clear she is a fan of Iger’s although she disagrees with his pay level. Abigail Disney has


It’s not the first time the Disney heiress and philanthropist has criticized CEO pay. In March, Disney stopped short of commenting on Iger’s pay in an interview on CNBC’s “Squawk Box,” but said, “If your CEO salary is at the 700, 600, 500 times your median workers’ pay, there is nobody on Earth, Jesus Christ himself isn’t worth 500 times his median workers’ pay.” In a series of tweets Saturday, Disney made clear she is a fan of Iger’s although she disagrees with his pay level. Abigail Disney has
Disney heiress calls CEO Bob Iger’s $65.6 million total compensation ‘insane’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lauren feiner, steve zak photography, filmmagic, getty images
Keywords: news, cnbc, companies, calls, spokesperson, insane, heiress, igers, compensation, million, disney, bob, mr, times, ceo, share, total, workers, pay


Disney heiress calls CEO Bob Iger's $65.6 million total compensation 'insane'

It’s not the first time the Disney heiress and philanthropist has criticized CEO pay. In March, Disney stopped short of commenting on Iger’s pay in an interview on CNBC’s “Squawk Box,” but said, “If your CEO salary is at the 700, 600, 500 times your median workers’ pay, there is nobody on Earth, Jesus Christ himself isn’t worth 500 times his median workers’ pay.”

In a series of tweets Saturday, Disney made clear she is a fan of Iger’s although she disagrees with his pay level.

A spokesperson for The Walt Disney Company told CNBC, “Mr. Iger’s compensation is 90% performance-based and he has delivered exceptional value for shareholders: Disney’s market capitalization has grown exponentially over the last decade, rising $75 billion in the last month alone, and the stock price has increased to $132 a share from $24 a share when Mr. Iger became CEO in 2005—all of which directly benefits literally thousands of employees who hold our stock.”

The spokesperson added that the company has invested significantly into employee pay and mobility, including implementing a $15 starting hourly wage at Disneyland and committing $150 million toward a program designed to give hourly workers the opportunity at a college or vocational degree free of charge.

Abigail Disney has been outspoken about excessive executive spending and she’s put her money where her mouth is, telling The Cut she has given away $70 million since she turned 21. In the interview, she said if it were up to her, “I would pass a law against private jets, because they enable you to get around a certain reality.”

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Watch: The US must make structural changes by taxing the wealthy, says Disney Heiress


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lauren feiner, steve zak photography, filmmagic, getty images
Keywords: news, cnbc, companies, calls, spokesperson, insane, heiress, igers, compensation, million, disney, bob, mr, times, ceo, share, total, workers, pay


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Facebook says it ‘unintentionally uploaded’ 1.5 million users’ email contacts without permission

Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said. Facebook said it used to have a


Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said. Facebook said it used to have a
Facebook says it ‘unintentionally uploaded’ 1.5 million users’ email contacts without permission Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: saheli roy choudhury, niall carson, pa images, getty images
Keywords: news, cnbc, companies, million, facebook, uploaded, 15, unintentionally, process, spokesperson, email, giant, step, site, users, permission, contacts


Facebook says it 'unintentionally uploaded' 1.5 million users' email contacts without permission

Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016.

Users affected by that incident were not just limited to the United States, according to a source familiar with the matter.

Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC.

“We’ve fixed the underlying issue and are notifying people whose contacts were imported. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said.

Business Insider first reported the news and said a security researcher noticed the tech giant was prompting some users to type in their email passwords when they opened an account to verify their identity.

Facebook said it used to have a step in the account verification process where some users had the option to confirm their email address and voluntarily import their email contacts onto the site. The feature was meant to help them find their friends more effectively and improve ads, according to the company.

That process was redesigned in May 2016. While the language, which explained the step, was removed, the feature itself was not, Facebook said. Hence, email contacts were still being uploaded to the site without users being aware of that fact.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: saheli roy choudhury, niall carson, pa images, getty images
Keywords: news, cnbc, companies, million, facebook, uploaded, 15, unintentionally, process, spokesperson, email, giant, step, site, users, permission, contacts


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Kim Kardashian gave a tour of her home on Instagram

As Vogue’s May cover star, Kim Kardashian West gave the magazine’s website a tour of her Hidden Hills, California home during her “73 questions” interview. When asked to describe its style, Kardashian West replied: “I would say like a minimal monastery.” Kardashian West later explained some of the unique features of her home in an Instagram Story. “Since everyone is a little confused about our sinks, I thought I would just show you guys a little tour of our bathroom,” Kardashian West says in her


As Vogue’s May cover star, Kim Kardashian West gave the magazine’s website a tour of her Hidden Hills, California home during her “73 questions” interview. When asked to describe its style, Kardashian West replied: “I would say like a minimal monastery.” Kardashian West later explained some of the unique features of her home in an Instagram Story. “Since everyone is a little confused about our sinks, I thought I would just show you guys a little tour of our bathroom,” Kardashian West says in her
Kim Kardashian gave a tour of her home on Instagram Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jimmy im, david crotty, getty images
Keywords: news, cnbc, companies, viewers, west, gave, insidethis, instagram, million, look, tour, kardashian, little, kim, bathroom


Kim Kardashian gave a tour of her home on Instagram

As Vogue’s May cover star, Kim Kardashian West gave the magazine’s website a tour of her Hidden Hills, California home during her “73 questions” interview. When asked to describe its style, Kardashian West replied: “I would say like a minimal monastery.”

As Kardashian West walks through her home, viewers can see a large bedroom, a bathroom with a square bathtub in the middle, a long hallway with an arched ceiling and glass doors and a living room with an “unbleached Steinway” piano, according to Kardashian West.

Kardashian West later explained some of the unique features of her home in an Instagram Story.

First is the bathroom. Kardashian West says the bathtub “fits all our kids,” and there is a rain shower. “Since everyone is a little confused about our sinks, I thought I would just show you guys a little tour of our bathroom,” Kardashian West says in her Instagram story.

She explains there were eight versions of the prototype sink made. In the story, viewers can see that there are two faucets that appear to have no basin, though Kardashian West clarifies the countertop “slopes down.”

When she turns on the faucet, the water pours into a slit. “You can put it on as high pressure as you want and no back splash will come up.”

In her bedroom, Kardashian West shows off a flat-screen TV that rises up from its hiding spot in the floor.

She says it’s a “130-inch” in front of the bed.

In April 2018, People magazine reported the house is worth $20 million. Kardashian West’s mom, Kris Jenner, responded in a Tweet: “WOW wrong again!! Their house is $60 MIL.”

Kardashian West recently announced she wants to be a lawyer. She plans to take the bar exam in 2022 and registered with the California State Bar to study law last year, according to her Instagram post.

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Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jimmy im, david crotty, getty images
Keywords: news, cnbc, companies, viewers, west, gave, insidethis, instagram, million, look, tour, kardashian, little, kim, bathroom


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The $2.5 million Pininfarina Battista electric hypercar debuts in US

While other automakers packed the Javits Center for the New York International Auto Show, Automobili Pininfarina launched one of the week’s most exciting car debuts at an off-site event. The company’s new all-electric Battista hypercar produces a whopping 1,900 horsepower and reaches 60 miles per hour in under two seconds. That makes it the fastest street-legal car ever built by an automaker, even outrunning a Formula One race car to 60 mph. Pininfarina has previously said that a Battista will h


While other automakers packed the Javits Center for the New York International Auto Show, Automobili Pininfarina launched one of the week’s most exciting car debuts at an off-site event. The company’s new all-electric Battista hypercar produces a whopping 1,900 horsepower and reaches 60 miles per hour in under two seconds. That makes it the fastest street-legal car ever built by an automaker, even outrunning a Formula One race car to 60 mph. Pininfarina has previously said that a Battista will h
The $2.5 million Pininfarina Battista electric hypercar debuts in US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: mack hogan, h o, automobili pininfarina
Keywords: news, cnbc, companies, car, hypercar, battista, 60, york, million, weeks, pininfarina, thrust, miles, electric, whopping, testarossa, targeting, 25, debuts


The $2.5 million Pininfarina Battista electric hypercar debuts in US

While other automakers packed the Javits Center for the New York International Auto Show, Automobili Pininfarina launched one of the week’s most exciting car debuts at an off-site event.

The company’s new all-electric Battista hypercar produces a whopping 1,900 horsepower and reaches 60 miles per hour in under two seconds. That makes it the fastest street-legal car ever built by an automaker, even outrunning a Formula One race car to 60 mph.

Pininfarina has previously said that a Battista will hit 180 mph in less time than an F-16 fighter jet. All of that thrust comes from electric motors that are fed by a 120 kWh battery and should be good for around 300 miles of range on a single charge.

The company — which has roots in the storied Italian design house that styled iconic cars like the Fiat 124, Maserati GranTurismo, Ferrari Testarossa and Alfa Romeo Spider — is targeting a 2020 release date for the Battista.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: mack hogan, h o, automobili pininfarina
Keywords: news, cnbc, companies, car, hypercar, battista, 60, york, million, weeks, pininfarina, thrust, miles, electric, whopping, testarossa, targeting, 25, debuts


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This is what $420,000 Lamborghini looks like covered with 2 million Swarovski crystals

First bitcoin enthusiasts were into buying Lamborghinis with the crypto, and now a Russian Instagram star has covered her Lambo in Swarovski crystals. Blogger and Instagram model Daria Radionova (also CEO of DR Jackets, according to her Instagram bio) says she bedazzled her Lamborghini Aventador SV in 2 million Swarovski crystals, revealing the car in London on April 6. The supercar costs around $421,000 without the custom bling. “Two million crystals were applied by hand, and it took over 700 h


First bitcoin enthusiasts were into buying Lamborghinis with the crypto, and now a Russian Instagram star has covered her Lambo in Swarovski crystals. Blogger and Instagram model Daria Radionova (also CEO of DR Jackets, according to her Instagram bio) says she bedazzled her Lamborghini Aventador SV in 2 million Swarovski crystals, revealing the car in London on April 6. The supercar costs around $421,000 without the custom bling. “Two million crystals were applied by hand, and it took over 700 h
This is what $420,000 Lamborghini looks like covered with 2 million Swarovski crystals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jimmy im, steve russell, getty images, melmedia
Keywords: news, cnbc, companies, car, covered, million, looks, sv, wrote, instagram, took, swarovski, radionova, lamborghini, crystals, used, 420000


This is what $420,000 Lamborghini looks like covered with 2 million Swarovski crystals

First bitcoin enthusiasts were into buying Lamborghinis with the crypto, and now a Russian Instagram star has covered her Lambo in Swarovski crystals.

Blogger and Instagram model Daria Radionova (also CEO of DR Jackets, according to her Instagram bio) says she bedazzled her Lamborghini Aventador SV in 2 million Swarovski crystals, revealing the car in London on April 6. The supercar costs around $421,000 without the custom bling.

“Two million crystals were applied by hand, and it took over 700 hours to make” the car, Radionova wrote in an Instagram post. The majority of the crystals are black, with red crystals used to spell out “SV” on the car’s sides.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jimmy im, steve russell, getty images, melmedia
Keywords: news, cnbc, companies, car, covered, million, looks, sv, wrote, instagram, took, swarovski, radionova, lamborghini, crystals, used, 420000


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Netflix not concerned about lower prices, except in one huge market

If there’s a market where Netflix is concerned about plan pricing as Disney begins its big push into the video streaming market, it’s not the U.S. The struggle to get the Indian market right is not a new issue for Netflix, but it is one the company’s management team openly addressed on its Tuesday earnings call. Netflix is still one of the most expensive video streaming options in India. The Netflix Indian subscriber based has estimated by industry sources at 1 million, though the company has sa


If there’s a market where Netflix is concerned about plan pricing as Disney begins its big push into the video streaming market, it’s not the U.S. The struggle to get the Indian market right is not a new issue for Netflix, but it is one the company’s management team openly addressed on its Tuesday earnings call. Netflix is still one of the most expensive video streaming options in India. The Netflix Indian subscriber based has estimated by industry sources at 1 million, though the company has sa
Netflix not concerned about lower prices, except in one huge market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: noah higgins-dunn
Keywords: news, cnbc, companies, price, streaming, lower, netflix, huge, market, earnings, company, india, concerned, video, indian, million, prices


Netflix not concerned about lower prices, except in one huge market

If there’s a market where Netflix is concerned about plan pricing as Disney begins its big push into the video streaming market, it’s not the U.S. It’s India.

Netflix has raised its prices on plans in the U.S. and recently announced intentions to do the same in Brazil, Mexico and some countries in Europe, but it is struggling to lower its price tier in India as it looks to add more subscribers in a country that has more than 460 million internet users.

The struggle to get the Indian market right is not a new issue for Netflix, but it is one the company’s management team openly addressed on its Tuesday earnings call.

“We’re quite certain that we should do something to find a price tier that’s lower than the existing lowest price tier to broaden that accessibility,” said Netflix’s Chief Product Officer Greg Peters on the company’s Q1 earnings call. “We think that they’ll be important to adding members in India.”

Netflix is still one of the most expensive video streaming options in India. According to a recent Reuters report, the three Netflix monthly plans in India range from 500 rupees ($7.20) to 800 rupees ($11.50), significantly above the price points of Amazon Prime Video’s plan ($14 a year) and roughly twice as much as Hotstar, the country’s largest video streaming service, owned by Disney.

The Netflix Indian subscriber based has estimated by industry sources at 1 million, though the company has said it is aiming for 100 million subscribers in India.

In March, Netflix began offering a mobile-only test plan at roughly $3.60, based on current exchange rates. During the earnings call, Peters acknowledged that the plan is something the company is trying out, but isn’t “positive that’s the right model.”

Now upcoming streaming services could threaten to take a larger share of the market, like Disney and Apple. Netflix officials said on the earnings call that the increasing competition in the U.S. isn’t something the company can worry about too much.

Among the comments from Netflix CEO Reed Hastings on the earnings call:

“We can’t get obsessed about any one company.”

“It’s a mix of yes it’s competition, that hurts, but on the other hand it gets internet viewing more popular with everyone.”

“There is a lot of new and strengthening competition with Disney entering the market, HBO getting additional funding. … It is what it is; we’re not going to be able to change it.”

“There’s a ton of competition out there, and Disney and Apple add a little bit more, but frankly, I doubt it will be material because, again, there’s already so many competitors for entertainment time.”

Last year Netflix Chief Content Officer Ted Sarandostold CNBC that Asia’s young and increasingly digital population presents an “incredible opportunity” to ramp up the company’s international subscribers. The company hopes to add 100 million subscribers in India alone, which has proved its desire for video streaming by turning en masse to YouTube and other similar video services, Sarandos said.

A report by global management consulting firm Boston Consulting Group predicted the over-the-top, or OTT, market in India will grow to $5 billion in 2023, although last year it was estimated to be $500 million. Kanchan Samtani, a partner and managing director at BCG, noted the country has a price sensitive market and it’s challenging to break through the clutter.

Netflix has continued to push original content in India, and Sarandos said it was “super encouraged,” with Netflix India originals like “Sacred Games,” “Delhi Crime” and “Love Per Square Foot,” which have gained a lot of viewers in the country. On Monday, the company announced it would be adding 10 more original films to its roster that will be produced by Indian companies, and plans to release 15 total by the end of 2020.

International markets have spearheaded Netflix’s growth as it begins to slow down in domestic markets. The company beat estimates by adding 7.86 million international paid subscriber additions compared to the 1.74 million domestic additions. It has focused on localizing its content and moving away from dubbing.

The company has continued to spend on original content and has investors concerned over its free cash flow. The company reported a negative $380 million net cash flow, $93 million more than the same period last year, and the company expects its 2019 free cash flow deficit to be greater than the negative $3 billion previously expected.

“As we sort of have that ongoing content investment and we’re really providing stories that Indian consumers really love, it’s an opportunity for us to look at how we broaden the accessibility of the service then to more and more Indian consumers,” Peters said.

Shares of Netflix fell about 1% after reporting its first-quarter earnings after the bell Tuesday and teetered between positive and negative territory Wednesday morning. The company’s Q1 revenue, earnings and subscriber numbers beat Wall Street expectations.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: noah higgins-dunn
Keywords: news, cnbc, companies, price, streaming, lower, netflix, huge, market, earnings, company, india, concerned, video, indian, million, prices


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Weed giant Canopy Growth closing in on deal to buy Acreage Holdings

Canadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings — the latest in a string of deals in the fast-growing industry. Sources also told CNBC that Canopy had been looking at deals with other U.S.-based operators, in addition to Acreage. For its part, Canopy Growth remains one of the largest players in the burgeoning cannabis industry. In its most recent earnings report, Canopy said it sold 10,102 kilograms of pot and equivalents in the three months ended December 2


Canadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings — the latest in a string of deals in the fast-growing industry. Sources also told CNBC that Canopy had been looking at deals with other U.S.-based operators, in addition to Acreage. For its part, Canopy Growth remains one of the largest players in the burgeoning cannabis industry. In its most recent earnings report, Canopy said it sold 10,102 kilograms of pot and equivalents in the three months ended December 2
Weed giant Canopy Growth closing in on deal to buy Acreage Holdings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, largest, growth, closing, giant, industry, acreage, canopy, sources, weed, operators, deal, told, million, cannabis, recent, buy, holdings


Weed giant Canopy Growth closing in on deal to buy Acreage Holdings

Canadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings — the latest in a string of deals in the fast-growing industry.

The two companies have been in talks for about two weeks and were scheduled to speak on the phone Wednesday evening to finalize the agreement, sources familiar with the matter told CNBC’s Melissa Lee. Sources also told CNBC that Canopy had been looking at deals with other U.S.-based operators, in addition to Acreage.

Shares of Canopy rallied more than 10% in after hours trading Wednesday following the news. Neither company was immediately available to comment.

Acreage Holdings, one of the largest vertically integrated, multistate cannabis operators in the U.S., has attracted attention on Wall Street in part thanks to John Boehner, former speaker of the U.S. House of Representatives and a director at the company.

For its part, Canopy Growth remains one of the largest players in the burgeoning cannabis industry. With a market cap of about $14 billion, Canopy has drawn attention for its partnership with Corona beer maker Constellation Brands. It’s also announced plans to locate a hemp operations in New York State with the help of a recent acquisition of cannabis research company, Ebbu.

In its most recent earnings report, Canopy said it sold 10,102 kilograms of pot and equivalents in the three months ended December 2018. It’s also introduced new products such as oral sprays and pre-rolled joints made by its custom-built, proprietary automated cannabis rolling machines.

As of September, Canopy had 4.3 million square feet of licensed capacity in Canada, which it is expanding to 5.6 million. That represents about 35% of industry capacity, according to industry analysts.

This story is developing. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, largest, growth, closing, giant, industry, acreage, canopy, sources, weed, operators, deal, told, million, cannabis, recent, buy, holdings


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Restoration of the Notre Dame Cathedral could take years and cost upward of $1 billion, experts say

Many priceless items were saved from Notre Dame Cathedral on Monday after a massive fire tore through the structure. The restoration project could take years and likely millions more than the funds donated thus far — and is unlikely to unfold without controversy, experts say. “I would presume just because of the scale of [Notre Dame], this would be at least three to four times that,” she said. The large paintings being stored in the church suffered smoke damage, he said, and will be removed from


Many priceless items were saved from Notre Dame Cathedral on Monday after a massive fire tore through the structure. The restoration project could take years and likely millions more than the funds donated thus far — and is unlikely to unfold without controversy, experts say. “I would presume just because of the scale of [Notre Dame], this would be at least three to four times that,” she said. The large paintings being stored in the church suffered smoke damage, he said, and will be removed from
Restoration of the Notre Dame Cathedral could take years and cost upward of $1 billion, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: nadine el-bawab, christophe petit tesson, pool
Keywords: news, cnbc, companies, restoration, scale, items, cathedral, notre, upward, billion, million, dame, krusche, church, cost, experts, say


Restoration of the Notre Dame Cathedral could take years and cost upward of $1 billion, experts say

Many priceless items were saved from Notre Dame Cathedral on Monday after a massive fire tore through the structure. But the 12th century Parisian landmark itself has a long — and expensive — road ahead to full restoration.

Another half-hour and the blaze could have entirely collapsed the cathedral, French authorities told The Guardian. It left behind damages the scale of which is still unknown. The restoration project could take years and likely millions more than the funds donated thus far — and is unlikely to unfold without controversy, experts say.

Pledges toward the restoration efforts surpassed 700 million euros, or $790 million, in the first few days. But the full extent and cost of the damages remains to be seen.

Investigators haven’t been able to enter the cathedral to assess what might have caused the fire. The Paris public prosecutor’s office has stated that it appears to have been an accident, and that it has no reason to believe it was arson.

The first fire alert was sounded at 6:20 p.m. local time on Monday evening. The inferno brought as many as 400 firefighters to the scene and it was nearly 15 hours before they were able to put out the flames.

Before restoration can begin, a team of architects, engineers and preservation specialists will likely go in and assess what is there, and what needs to be replaced — stone by stone — said Kevin Murphy, a professor of humanities at Vanderbilt University.

Structural engineers will have to assess the strength of the building and scaffolding will be set up on the inside and outside of the church to ensure that it is safe for experts to go in, according to Krupali Krusche, an associate dean at the University of Notre Dame School of Architecture and expert on historical preservation.

“The assessment part takes some time — at least a year or a year and a half of assessing the project,” Krusche said.

Krusche worked on the reconstruction of the Dresden Frauenkirche, a church in Germany that was reconstructed between 1998 and 2006 after being bombed during World War II.

“Nothing remained. The whole church was completely reconstructed. The heat levels were 1,000 degrees so mostly everything burned down,” Krusche said. According to Krusche, that project cost 118 million euros, or $133 million.

“I would presume just because of the scale of [Notre Dame], this would be at least three to four times that,” she said. “This depends on the quality of the reconstruction. There are preservation techniques that allow you to get the aesthetic look but are not as expensive. The more authentic, in terms of the materials, you get the more expensive things get.”

The nearly $800 million pledged so far would provide for a good reconstruction, but an expert restoration would likely require more, Krusche said. She estimated costs could balloon to $1 billion.

There will also be much to decide in terms of restorations to be carried out on the building including which of the 19th century additions, such as the spire that was destroyed in the fire, will be replicated or replaced. Renovators will be consulting with scholars, architects and church officials in order to determine how to proceed, Murphy said.

Krusche said the consensus among experts is usually to return the building to the way it looked the day before the fire. “There will be older and newer stones with different color and that’s the historical contribution of this event,” she said.

Then there are the costs to move and restore items held within the cathedral.

Precious items including the Crown of Thorns, believed to have been placed onto Jesus’ head during the crucifixion; Le Grand Orgue, an instrument which dates back to the 1730s; and the Tunic of Saint Louis, a long garment dating to the 13th century, were all spared from the flames.

These items, along with other treasures, are now being held at the Paris City Hall, said French Culture Minister Franck Riester on Tuesday outside of the cathedral. Sixteen statues of saints were removed from the cathedral last Thursday for cleaning and therefore escaped the fire.

The rest of the treasures will be stored in the Louvre Museum as soon as they can be retrieved, Riester added. The large paintings being stored in the church suffered smoke damage, he said, and will be removed from Notre Dame on Friday morning. They will then be conserved and restored.

Not everything that was lost can be restored to exactly the way it was. France will launch an international architectural competition to design a new spire for the cathedral, Prime Minister Edouard Philippe announced Wednesday. Most notably, the roof of the cathedral that was made of wood went up in flames and suffered severe damages.

“The timber that was used [in the roof] was cut down hundreds of years ago from forests that don’t exist anymore in the quantity they would need for that huge of a structure,” Murphy highlighted. “It would be difficult if not impossible to obtain timber on the scale that was in the roof.”

On Tuesday French President Emmanuel Macron vowed to complete restoration within the next five years. Krusche thought that was feasible, assuming a team of experts as large as 100 people.

Murphy isn’t as convinced.

“If it were to be renovated in 10 years that would be ambitious,” he said.

WATCH: It could take ‘decades’ to rebuild Notre Dame, expert says


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: nadine el-bawab, christophe petit tesson, pool
Keywords: news, cnbc, companies, restoration, scale, items, cathedral, notre, upward, billion, million, dame, krusche, church, cost, experts, say


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Pinterest prices IPO at $19, valuing social media company at $10 billion

Pinterest raised $1.43 billion in its IPO after pricing the offering at $19 a share on Wednesday, valuing the company at $10 billion. Pinterest, which is expected to start trading on Thursday on the New York Stock Exchange, had originally given a pricing range of $15 to $17. But investors appear to be showing an appetite for the social media company despite the challenges Lyft has faced since becoming the first consumer tech IPO of the year last month. Still, Pinterest’s IPO is below the $12 bil


Pinterest raised $1.43 billion in its IPO after pricing the offering at $19 a share on Wednesday, valuing the company at $10 billion. Pinterest, which is expected to start trading on Thursday on the New York Stock Exchange, had originally given a pricing range of $15 to $17. But investors appear to be showing an appetite for the social media company despite the challenges Lyft has faced since becoming the first consumer tech IPO of the year last month. Still, Pinterest’s IPO is below the $12 bil
Pinterest prices IPO at $19, valuing social media company at $10 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: salvador rodriguez, justin sullivan, getty images news, getty images
Keywords: news, cnbc, companies, million, pinterests, pinterest, 19, tech, media, ipo, worth, stock, valuing, start, trading, social, billion, company, prices


Pinterest prices IPO at $19, valuing social media company at $10 billion

Pinterest raised $1.43 billion in its IPO after pricing the offering at $19 a share on Wednesday, valuing the company at $10 billion.

Pinterest, which is expected to start trading on Thursday on the New York Stock Exchange, had originally given a pricing range of $15 to $17. But investors appear to be showing an appetite for the social media company despite the challenges Lyft has faced since becoming the first consumer tech IPO of the year last month.

CNBC reported earlier on Wednesday that the company would price above the expected range. Pinterest’s revenue jumped 60% last year to $756 million, and the company moved significantly closer to profitability with a net loss of $63 million. Still, Pinterest’s IPO is below the $12 billion valuation it attained in a 2017 financing round.

Pinterest is among the first big tech IPOs of the year and is scheduled to start trading around the same time as videoconferencing company Zoom. Ride-hailing company Lyft was the first big offering to hit the market in March, but the stock has dropped 19 percent from its IPO price.

Founded in 2010 by Ben Silbermann, a former Google employee, and Evan Sharp, who was previously a designer at Facebook, Pinterest has grown to 265 million monthly users. The company burst into the mainstream in 2012 with rapid growth, but expansion has since cooled due in part to a work culture that many employees describe as slow when it comes to making decisions.

Silbermann’s stake is worth close to $1 billion at the offer price. Bessemer Ventures owns shares valued at $1.13 billion, while FirstMark’s holdings are worth $844 million and Andreessen Horowitz’s stake is worth $827 million.

Goldman Sachs and J.P. Morgan Chase are leading the offering.

Watch: Pinterest’s path forward


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: salvador rodriguez, justin sullivan, getty images news, getty images
Keywords: news, cnbc, companies, million, pinterests, pinterest, 19, tech, media, ipo, worth, stock, valuing, start, trading, social, billion, company, prices


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Daymond John-backed start-up Bombas is reinventing the sock—and it’s bringing in $100 million a year

John tells CNBC Make It Bombas one of his top three most successful “Shark Tank” investments. The latest valuation of the New York-based company was in 2015 at $15 million, according to PitchBook. Bombas tells CNBC Make It that it is committed to customer satisfaction and refunded or issued gift cards to orders that were affected. Then of course there’s the fact that $12 for a pair of ankle socks seems steep. Bombas T-shirts cost around $36, and for every shirt purchased, Bombas will donate a sh


John tells CNBC Make It Bombas one of his top three most successful “Shark Tank” investments. The latest valuation of the New York-based company was in 2015 at $15 million, according to PitchBook. Bombas tells CNBC Make It that it is committed to customer satisfaction and refunded or issued gift cards to orders that were affected. Then of course there’s the fact that $12 for a pair of ankle socks seems steep. Bombas T-shirts cost around $36, and for every shirt purchased, Bombas will donate a sh
Daymond John-backed start-up Bombas is reinventing the sock—and it’s bringing in $100 million a year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: sarah berger
Keywords: news, cnbc, companies, startup, bombas, tells, daymond, revenue, tshirts, 100, according, ankle, company, johnbacked, sockand, socks, million, bringing, reinventing


Daymond John-backed start-up Bombas is reinventing the sock—and it's bringing in $100 million a year

In 2013, the co-founders quit their day jobs and launched a crowdfunding campaign on IndieGoGo that spring and summer. Originally, they set a goal of raising $15,000 in 30 days, but within the first 24 hours, Heath recalls, they had raised over $25,000. In total, Bombas crowdfunded just over $140,000. With the capital, they officially launched the business that October.

In 2014, Heath and Goldberg raised a $1 million seed round from friends and family. The entrepreneurs also went on ABC’s “Shark Tank” and scored a deal with Fubu founder John. (The original deal was $200,000 for 17.5 percent equity in the company, but The New York Times notes that the terms were renegotiated after the show.)

In the two months after their episode aired, Bombas told CNBC Make It, the company did $1.2 million in sales and sold out of its inventory.

John tells CNBC Make It Bombas one of his top three most successful “Shark Tank” investments.

“It’s been a dream working with them, honestly. They’re laser-focused,” John tells CNBC Make It. “I don’t even know if they ever call me for anything more than a little bit of words of advice, and they go out and they execute, so it’s not been a lot of heavy lifting on my part. They’ve also taught me about the value of when a consumer feels that you have a social cause that is really amazing and they believe in you, how they will support you.”

At first, Bombas offered just ankle and calf socks, but it has since expanded to offer everything from no-show to ankle to quarter and knee-high styles and athletic socks as well as dress. And Bombas socks are not cheap: A 12-pack of women’s ankle socks can cost $145, while a single pair of men’s vintage stripe calf socks costs $12, and a pair of women’s no-show socks costs $10.50.

But people are buying them.

In 2015, Bombas did $4.6 million in revenue, according to the company, then $7.5 million in revenue in 2016 and $46.6 million in 2017, a notable jump that Bombas attributes to its full-team working together on everything from product design and development to marketing. In 2018, its revenue was $102 million, according to the company. The latest valuation of the New York-based company was in 2015 at $15 million, according to PitchBook.

The start-up has had issues along the way. Customers complained about incomplete or incorrect orders and a lack of customer service response during the 2018 holiday season, for example. Bombas tells CNBC Make It that it is committed to customer satisfaction and refunded or issued gift cards to orders that were affected.

Others have questioned the general effectiveness and ethics surrounding the altruistic business model, which is core to Bombas’ brand. Some have even called the practice “guilt laundering.” But giving back is deeply ingrained in the company and not something it simply puts in marketing, Bombas says. The Bombas team volunteers weekly, according to the company, connecting directly with the organizations it donates to by handing out socks and serving food.

Then of course there’s the fact that $12 for a pair of ankle socks seems steep. But Goldberg likens Bombas’ pricing model to Starbucks, explaining that pre-Starbucks, Americans weren’t spending that much money on coffee, opting to brew Maxwell House at home or purchasing a cup at the corner deli for a handful of change.

“[Starbucks] improved the quality so much and improved the experience around coffee, that they were bringing the price up to three times what they used to spend,” Goldberg says. “So if it’s 75 cents at a corner deli and it’s $2.25 at Starbucks, you’re willing to pay extra for a better experience, for a better product. And it’s the same thing for our socks.”

But as of Monday, it’s not just about socks for Bombas. The company launched its first new category of product: T-shirts. The shirts are made with Peruvian pima cotton and are designed to feel soft and cool (kind of like “the other side of the pillow,” the company says). Bombas T-shirts cost around $36, and for every shirt purchased, Bombas will donate a shirt to someone in need. The company opted for T-shirts, Bombas says, because of customer demand.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: sarah berger
Keywords: news, cnbc, companies, startup, bombas, tells, daymond, revenue, tshirts, 100, according, ankle, company, johnbacked, sockand, socks, million, bringing, reinventing


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