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A Buckingham Palace Guard Put On A Wild Show For Tourists, And The Army Isn't Pleased

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Buckingham Guard

The guards outside Buckingham Palace are known for their incredible bearing, often standing for hours of post with nary a flinch.

But a recently discovered video uploaded to YouTube last month shows a lighter side to the Queen's Guards, as an unidentified soldier was filmed by tourists showing off some funky dance moves as he walked his post.

The video, which was uploaded Aug. 20, came with the caption: "Will Her Majesty be amused. A Buckingham Palace guardsman misbehaves on duty while The Queen is on holiday. His senior officer might be having a chat with him later…"

buckingham guardHer Majesty may, or may not, be amused. But the British Army sure isn't. According to The Guardian, the soldier is under investigation for the stunt. "We are aware of the video. Anyone who is found to fall short of the army's high standards can expect to face appropriate action," a spokesman told the paper.

The nearly 3:30 clip shows the soldier walking outside the Queen's palace along a wall near his sentry box, sometimes stopping to pick things up, at other times stopping with his foot in mid-air for a few seconds. At a couple of points, he even does some pirouettes, and tourists watching are quite amused.

"Have you seen them do that before?" a tourist asks in the video, as another responds: "It's just that one, he's messing around a bit."

Check it out:

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Fidelity Reviewed Which Accounts Did Best And What They Found Was Hilarious (DIA, SPY, QQQ, TLT, IWM)

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fidelity investments bankers suits

If you want good investment performance, forget you have an account.

On this week's Masters in Business program on Bloomberg Radio, Barry Ritholtz talks with James O'Shaughnessy of O'Shaughnessy Asset Management.

Ritholtz and O'Shaughnessy spend much of their discussion talking about the ways people screw themselves when investing, because nothing gets in the way of returns quite like someone who thinks they have a great idea. 

O'Shaughnessy discusses a number of interesting analyses he's done with regard to the length of holding periods (spoiler: the shorter you hold a stock the more likely you are to lose money) among other things.

But O'Shaughnessy relays one anecdote from an employee who recently joined his firm that really makes your head spin.

O'Shaughnessy: "Fidelity had done a study as to which accounts had done the best at Fidelity. And what they found was..."

Ritholtz: "They were dead."

O'Shaughnessy: "...No, that's close though! They were the accounts people who forgot they had an account at Fidelity."

There are numerous studies that explain why this happens. And they almost always come down to the fact that our minds work against us.

Due to our behavioral biases, we often find ourselves buying high and selling low.

Ritholtz also follows with some of his experiences in estate planning, where a family fighting over some inherited assets might not touch them for say 10 or 20 years while they work out the problem, and later find that those 10 or 20 years are the best period of performance.

The absolutely terrible investment decisions that people make is something that just can't be emphasized enough. 

We recently highlighted this chart from Rich Bernstein that shows just how terrible you are at investing: don't forget it. 

returns

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Joan Rivers Once Considered Suicide But Here's What Stopped Her

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joan rivers edgar rosenberg

In 1987, Joan Rivers' manager and husband of 22 years, Edgar Rosenberg, committed suicide after Fox fired them both following drama on "The Late Show Starring Joan Rivers."

Eight months later, Joan considered suicide herself.

In what would be her final big interview, the 81-year-old comedian opened up to The Daily Beast's Tim Teeman in July about the darkest period of her life and how she came out of it:

Joan Rivers Melissa Rivers funeral"Melissa wasn’t talking to me, my career was in the toilet, I’d lost my Vegas contracts, I’d been fired from Fox [where she had a talk show]. Carson and NBC [she had appeared on the Tonight Show for years] had put out such bad publicity about me. I was a pariah. I wasn’t invited anywhere. I was a non-person. At one point I thought, 'What’s the point? This is stupid.'

What saved me was my dog jumped into my lap. I thought, “No one will take care of him.” It wasn’t a friendly dog—only to me. I adored this dog. He was theoretically a Yorkie, his mother cheated. His name was Spike. He was the way you want your dog to be, devoted only to you. I was sitting in this big empty house in Bel Air, with a phone with five extensions which we no longer needed. I had the gun in my lap, and the dog sat on the gun. I lecture on suicide because things turn around. I tell people this is a horrible, awful dark moment, but it will change and you must know it’s going to change and you push forward. I look back and think, 'Life is great, life goes on. It changes.'"

"We were all down in the rubble, and he didn’t want to dig himself out," Joan says of her husband's suicide, which forced her back to work to earn a living.

"I understand it, and feel terribly sorry for him," she adds, "but I wonder if I’d be sitting here today talking to you if he had not killed himself, if we wouldn’t have ended up just a very bitter couple in a house on the hill somewhere."

Read the rest of Joan's insightful interview on The Daily Beast >

SEE ALSO: Here's An Amazing Scene From 'Louie' In Which Joan Rivers Explains Why She's A Comedian

MORE: Joan Rivers Once Joked About Not Wanting To Die A Natural Death

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More Than $2 Trillion Is Locked Up In Late Payments And This Guy Believes He Can Solve It

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Tradeshift CEO Christian LanngChristian Lanng was only 19 years old when he founded his first startup in Denmark. Although it closed after just two years, it was enough to make him the youngest division head in the Danish government.

There, he was asked to keep track of the government’s 25,000-plus suppliers, who were sending over 15 million invoices every year. Since most invoices were — and still are, in a lot of companies — paper-based and mailed to buyers, it was extremely hard to manage invoices and collect payments.

That’s what inspired Lanng to build an electronic invoicing platform. Through his software, companies were able to send invoices and track down payments immediately. Within 10 months, 95% of all companies in Denmark were using it.

Fast-forward to 2009, Lanng once again felt that entrepreneurial itch. He decided to launch his own startup, based on a similar electronic invoicing idea. He called it Tradeshift.

Tradeshift offers a paperless, cloud-based invoicing software. Companies are able to digitally send invoices and collect payment through it, expediting the whole payment process.

But Lanng built Tradeshift with a bigger problem in mind: boosting cash flow cycles.

Companies usually pay suppliers in 30-, 60-, and 90-day cycles. This inevitably slows down the cash collection period and smaller companies suffer — and often go bankrupt — because cash is not immediately available.

“More than $2 trillion are locked up in late payments in the U.S.,” Lanng told Business Insider, citing an industry report.

In fact, a recent survey by Basware, another e-invoicing company, revealed that over half the companies are actively engaged in late payments, while a third of them believe late payment is “a fact of business life.”

Buyers usually delay payments because they want more cash in hand and spend on more-immediate needs, like R&D or dividend payouts. Because of this delay, suppliers often take out bank loans to sustain their business, which adds cost.

To solve this late-payment culture, Tradeshift offers services that incentivize companies to pay faster.

Dynamic Discounting GraphOne option is Dynamic Discounting, where companies can offer discounts to clients who pay early. Basically, the earlier the buyer agrees to pay, the less money they’re owed.

Another is called Supply Chain Financing. With this, a third-party bank would pay the supplier immediately, at a low interest rate, and the buyer (who owes the money) would pay back the bank instead in 60 days or more. This benefits both sides of the deal because the supplier gets the cash immediately and the supplier gets to delay the payment.

“It’s true that big companies can save a lot of money by delaying payments,” Lanng says. “But they’re also hurting themselves because suppliers could go out of business while waiting for payment. Companies could save up to $30 million a year easily, just by paying earlier.”

Some of these features are available on other similar services, too, like Ariba (which was acquired by SAP for $4.3 billion), Taulia, or Basware.

Tradeshift's Mobile But Tradeshift is free for all suppliers, and has a unique social-media-like layout that makes it really easy to use. Its real-time news feed enables a collaborative commenting and work-assigning environment. And it's all open source, so you can build customized apps on top of it.

In its first six months of launch, Tradeshift made it into over 100 countries. Now, in a little over three years, Tradeshift has become one of the fastest-growing cloud invoicing services, with more than 500,000 clients worldwide, including DHL, Dell, and the U.K.’s National Health Service.

Over the last 18 months, Tradeshift grew 300%, and it’s projected to process over $50 billion in annual transactions. And with roughly $130 million in funding so far, Tradeshift is worth nearly $300 million.

Because of its disruptive nature, the electronic invoicing business is quickly becoming a hot industry. But Lanng is confident that Tradeshift has cracked the code and will be able to beat out larger competitors like SAP or smaller startups like Taulia.

“People always ask if I’m going to sell to SAP, and I (jokingly) tell them, 'No, I’m going to buy SAP,'” Lanng said. “We think this is the future of big businesses.”

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THE SOCIAL-MEDIA DEMOGRAPHICS REPORT: Differences In Gender, Age, And Income At The Top Networks

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Facebook Users Pew

The demographics of who's on what social network are shifting — older social networks are reaching maturity, while newer social messaging apps are gaining younger users fast.

In a new report from BI Intelligence, we unpack data from over a dozen sources to understand how social media demographics are still shifting. 

Social networks including Facebook, Google+, Twitter, LinkedIn, and even Pinterest have become more dependent globally on the 25 to 34 age bracket, while others like Snapchat and Tumblr remain heavily skewed to teens and younger adults.

Access The Full Report By Signing Up For A Free Trial >>

Here are a few of the key takeaways from the BI Intelligence report:

The report is full of charts (over 20 charts) and data that can be downloaded and put to use.

In full, the report:

For full access to all BI Intelligence reports, briefs, and downloadable charts on the digital media industry, sign up for a free trial.

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The NYPD Is Going To Start Putting Body Cameras On Police Officers

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police cadet graduating NYPD

New York City Police Department Commissioner Bill Bratton announced a pilot program on Thursday that will equip 60 police officers with body cameras. In a joint statement Mayor Bill de Blasio and Public Advocate Letitia James issued a statement that said the body camera program would "provide transparency, accountability, and protection for both the police officers and those they serve, while reducing financial losses for the city."

"New York City will do everything it takes to stay the safest big city in the nation. This means testing new methods and staying ahead of the curve on emerging technologies like body cameras," de Blasio and James said. "While we have yet to work out many specifics—such as data storage and confidentiality—our offices look forward to working together with the police department to ensure this promising pilot program is the right fit for our City and makes every New Yorker safer."

Following weeks of violent protests that occurred after an unarmed African-American man was shot by a police officer there last month, body cameras were identified as a potential solution to deal with police brutality. However, the origins of New York's pilot program pre-date the situation in Ferguson. 

Last year, a federal judge ordered the NYPD to adopt body cameras as part of a ruling on the department's controversial stop-and-frisk tactics. According to the New York Times, which reported on the body camera pilot prior to Bratton's announcement, the NYPD did not launch the program in consultation with the court of a federal monitor put in place by the judge last year. This led to criticism from a lawyer for the plaintiffs in the stop-and-frisk case who told the Times the decision to launch the pilot program was unfairly "unilateral."

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Here's What A Traffic Ticket Looks Like From The 'Islamic State'

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Militants of the Islamic State of Iraq and the Levant (ISIS or ISIL) have taken over vast swaths of land in Iraq and Syria, brutally murdered soldiers and journalists, and issued waves of propaganda to recruit new followers, and it's pretty clear they are a dangerous terrorist group.

But ISIS has been administering an "Islamic State," and a photo of a traffic ticket from Syria shows how far the new petrostate has come.

On Thursday, Dubai-based reporter Jenan Moussa tweeted an image from Raqqa, the Islamic State's de facto capital in Syria, showing what a ticket actually looks like. Moussa is a correspondent with Al Aan TV who has covered the conflict in Syria among other major events in the Middle East for more than two years.

She also recently broke a huge story on ISIS for Foreign Policy.

ISIS traffic ticket

Mike Wailes, a former cryptologic language analyst for the U.S. Navy, helped Business Insider with the translation:

Here it is, from the top:

The Islamic State of Iraq and the Sham (Syria)

State of Alruka

Islamic Services Authority - Islamic Police

Traffic Department

The date and traffic number are to the left

Then below is what is filled out for the citation:

Moving Violation

Name of violator: Al Natar AlBahraini

Vehicle Number: Country/nation (Our source was unsure what this meant)

Type of Vehicle: Kia

Type of Violation: Attention to (possibly reversing)

Governor of Violator: Saif Abu Nur

The ticket doesn't come as a total surprise. A recent documentary shot by Vice News in Raqqa showed how the militant group had established Sharia courts, a police force, and many other agencies one would find in any other state or country.

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This Is The Insanely Secure Facility In Nebraska Where An Ebola-Infected American Will Be Treated

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A third Ebola patient is coming back to the U.S.

Dr. Rick Sacra, 51, of Boston, is currently being flown from Liberia where he was volunteering with the Christian missionary group SIM to the Nebraska Medical Center in Omaha, Nebraska.

That's one of the best places in the world for someone with Ebola to be treated.

Nebraska Medical Center's 10-bed Biocontainment Unit is one of the four U.S. facilities specially designed to care for patients suffering from dangerous, highly infectious diseases, like Ebola, and in this case it seems they've been preparing for the possibility that they might receive a patient.

According to their website, a State Department official visited the facility at the end of July to examine the facility, and they explain that the site was constructed for the purpose of treating patients suffering from these diseases.

"The risk it would pose to people outside the unit would be zero," Dr. Phil Smith, medical director of the unit, says on the website.

And they've published other information that allows us to see exactly what makes it so safe.

In 2011, a University of Nebraska Medical Center group called UNMC HEROES uploaded a fictional YouTube video that shows exactly how the facility would operate if they were treating a patient with a viral hemorrhagic fever — like Ebola.

The video shows the extreme protective measures built in that make it an ideal spot to treat Ebola and even other, more contagious diseases.

Here's how it works.

The center itself was funded in 2004, created and built from the start with infection control in mind. They undertake quarterly drills to ensure that they are prepared for treating patients with serious diseases.

Nebraska Medical Center Biocontainment UnitThe Biocontainment Unit is a negative pressure unit, which means that the air system is designed so air can't flow from the unit to the rest of the hospital. While this is less important for Ebola, which only transmitted by close contact with body fluids, it would be essential for dealing with a dangerous influenza virus.

Nebraska Medical Center Biocontainment UnitAll the air that leaves the building is filtered and treated to kill anything that might be living in it.

negative pressure unit biocontainment NebraskaJulie Gerberding of the Centers for Disease Control and Prevention described the facility as "the safest possible environment to take care of those patients and give them the care they deserve but also the protection that they and the rest of the community require.The Biocontainment Unit facility was designed as one that could deal with the potential effects of bioterrorism, with staff on call at all times. Luckily, since this is a planned transfer, there's nothing like that to worry about here.

Hospital StaffOnly authorized staff can access the Biocontainment facility.

Hospital staff UNMCHospital scrubs and other protective gear are kept inside the facility.

hospital staff Personal belongings are kept locked up separately, where they won't be at risk of contamination.

lockersIn preparation for the patient's arrival, this dunk tank is filled with an antimicrobial solution so that the outside of lab samples can be cleaned before being carried into a lab.

UNMC HEROES/YouTubeThis machine sterilizes linens, garbage, or supplies that are leaving the lab.

UNMC HEROES/YouTubeEverything for patient care in a patient's room is prepared before the patient arrives.

UNMC HEROES/YouTube nebraska hospitalPatients also wear protective gear as they are being transferred to the Biocontainment Unit.

UNMC HEROES/YouTubeNebraska HospitalStaff receiving the patient and putting them into the facility wear full protective gear.

UNMC HEROES/YouTubePatients are moved in an isopod, a special device designed to prevent them from contaminating anything else in the hospital.

UNMC HEROES/YouTubeThe exterior surfaces of the isopod are decontaminated as well.

UNMC HEROES/YouTubeSecurity staff keeps hallways clear of other patients or healthcare workers to prevent any mishaps while the transfer is happening.

UNMC HEROES/YouTubeThe entry to the unit works the same way as an airlock. There is a hallway between two doors, and both cannot be open simultaneously.

UNMC HEROES/YouTubeInside the facility, the patient can be removed from the isopod.

UNMC HEROES/YouTubeDoctors can use a videoconferencing system to communicate with the patient and staff so not everyone has to wear the full protective suit at all times.

UNMC HEROES/YouTubeBiocontainment staff assist staff as they don their protective gear.

UNMC HEROES/YouTubeLab specimens are placed in heat-sealed, double-layered plastic bags.

lab specimens plastic bagsThose bags are then submerged in a dunk tank for 10 minutes.

UNMC HEROES/YouTubeThe sealed bags are collected from the other side of the dunk tank, which is in another room. Specimens can then be studied in a Biosafety Level 3 lab that's also part of the medical center.

UNMC HEROES/YouTubeSpecial firewalls and windows also protect the facility from fire or weather emergencies.

UNMC HEROES/YouTubeIf a patient were to die on site, they'd be removed in a specially constructed and sealed body bag to make sure that there was no risk of external contamination after removing the body before it was cremated.

UNMC HEROES/YouTubeBut with early identification of the virus and supportive care, someone is much more likely to survive the Ebola virus, as well as many other infectious diseases.

Here's the full video (fairly cheesy, to give you fair warning) if you'd like to watch it:

SEE ALSO: All Of Our Ongoing Ebola Coverage

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America's Highest Earners Are Bouncing Back Nicely

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poverty rich wealthy inequality

The mean incomes for all U.S. income brackets are still below 2007 levels according to the Federal Reserve's Survey of Consumer Finances.

The Fed broke down the income brackets into three groups: the bottom 50%, the next 40%, and the top 10%. 

From 2007 to 2010 all three groups saw mean incomes decrease. The downwards trend continued for the bottom 50% for the next three years, and the next 40% saw no significant change in either direction.

While the top 10% continue to have incomes at lower levels than what they had in 2007, they saw a sharp surge from 2010 to 2013.

Here's the graph:

mean incomes federal reserve

The report also revealed the relationship between the median and mean incomes. In real terms, median income rose "steadily" from 1992 to 2007, fell from 2007 to 2010, and fell again from 2010 to 2013.

On the other hand, mean income grew at a faster pace than median income since 1989. And every year mean income is above median income, which "reflects the concentration of income in the top of the income distribution", according to the video.

The mean then rebounded from 2010 to 2013, but you can see that the median continued to decline.

Federal reserve

You can watch a video of the report here.

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11 Of The Most Expensive eBay Auctions Ever

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Action Comics

Last month, a very rare comic made history: Action Comics No. 1, the first time Superman ever made an appearance in a comic, sold on eBay for a record-shattering $3.2 million

But comic books aren't the only crazy expensive things people are selling on the auction site. 

From sports memorabilia to cars, people are shelling out some big bucks to be the highest bidders and grab a piece of history. 

Nintendo World Championships - $99,902

In January, a super-rare Nintendo World Championships cartridge, which was given to finalists and winners at the 1990 event, was sold for almost $100,000

The game was placed on eBay for just $5,500. 



Hot rod from the movie "Grease" - $180,100

Earlier this year, a California seller put up for auction a restored 1949 Mercury hot rod that was used in the 1978 film "Grease." 

This is the car that Greased Lighting races at the end of the movie at Thunder Road.

It sold for more than $180,000.



Barry Bonds' 715th home run ball - $220,100

Barry Bonds' 715th home run ball sold on eBay for just over $220,000 in 2006. 

That ball put Bonds in second place in the all-time home run list. 



See the rest of the story at Business Insider

Russian Rockets Are Falling Within Sight Of A Strategically Vital Ukrainian City

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Ukraine Mariupol

Pro-Moscow separatist forces, likely augmented by Russian soldiers, have began a bombardment of a major Ukrainian coastal city.

Mariupol sits between pro-Russian occupied areas and the Crimean Peninsula, which Russia annexed in March. The city had previously seen clashes between Ukrainian security forces and separatists in May.

But Mariupol remained in Ukrainian hands and avoided the destruction wrought during battles between the Ukrainian government and pro-Russian separatists that have swept across eastern Ukraine throughout the summer. 

The city of half a million is now facing bombardment and possible invasion by Russian-backed separatist forces. 

The Organization for Security and Co-operation in Europe has released a statement saying that heavy fighting has taken place to the east of Mariupol between the Ukrainian army and "irregular armed groups" for the past day. There's speculation that armed groups may move into Mariupol once night falls.  

Russian forces have started a bombardment of the fields surrounding Mariupol with Grad rocket systems that have likely been supplied from Russia. Grads are Soviet-developed rockets usually fired from a truck-mounted missile battery. 

Screen Shot 2014 09 03 at 6.55.05 AM

The express purpose of the missile fire seems to be clearing out Ukrainian military vehicles, providing the advancing separatist force with direct access to the city. 

Mariupol is a strategic port city on the Azov Sea. If taken, the city would provide a link between the rebel capital of Donetsk and the Crimean Peninsula, which Russia annexed in March.

A corridor from Russia to Crimea would allow Russia to more easily resupply its position while preventing the Crimean economy from collapsing. 

A roadside YouTube video from the fields outside of Mariupol shows the Grad bombardment in full swing. 

Grad bombardment Mariupol

A second YouTube video from inside of Mariupol shows that the bombardment is happening directly outside of the city. 

Ukraine Mariupol

According to The Interpreter, there have been claims and counter-claims by both separatists and the Ukrainian military that the other side is fleeing the battle after sustaining significant losses. 

Below is a video from the AP showing destruction along the road from Donetsk to Mariupol. 

SEE ALSO: Here's The Crucial Ukraine Port City That Russia Wants Next

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Here's What To Expect From The August US Jobs Report (SPY, DIA, QQQ, IWM, TLT)

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models makeup

Don't forget about the U.S. jobs report.

It's been a big week for economic news, with manufacturing data in the U.S. remaining strong and the European Central Bank unexpectedly cutting interest rates.

But on Friday morning, we get the August jobs report to bring it home.

Here's a brief recap of Wall Street's expectation, via Bloomberg:

  • Nonfarm payrolls: +230,000
  • Unemployment rate: 6.1%
  • Average hourly earnings, month-over-month: +0.2%
  • Average hourly earnings, year-over-year: +2.1%
  • Average weekly hours worked: 34.5

With Friday's jobs report, the U.S. economy will be looking to make it seven straight months with monthly payroll gains over 200,000, adding to its current streak which is the longest since 1997.

Friday's jobs report will also be the final report before the Federal Reserve meets on September 16-17 for its next monetary policy meeting. 

Expectations are for the unemployment rate to fall slightly, to 6.1% from 6.2% in July, and as usual, the labor force participation rate will remain in focus. 

In July, the labor force participation rate ticked up slightly — to 62.9% from 62.8%, where it had been for three straight months — but this rate still remains at historically low levels.

Janet Yellen addressed this low-participation puzzle in her speech at Jackson Hole, but you know, since she's an economist, said on one hand this could be a structural thing, on the other hand, cyclical. 

So we'll see.

What Wall Street's Saying

Dean Maki and Michael Gapen at Barclays expect the report to show the economy added 200,000 jobs in August, writing that, "after a three-month bump in the pace of payroll growth, coinciding with the rebound in activity in Q2, we look for payroll growth to settle into a more consistent run rate in the second half of the year." Maki and Gapen also see the unemployment rate falling to 6.1%. 

Kris Dawsey at Goldman Sachs sees payrolls coming in at 240,000, and said, "With no special factors on weather, strikes, unusual composition in the prior month, fiscal policy issues, or obvious seasonal distortions, we think the August report should be a fairly 'clean read' on the likely-strengthening underlying trend."

Ethan Harris at Bank of America Merrill Lynch sees a larger gain in payrolls — 245,000 — as well as an unemployment rate that falls to 6.1%. On the wage front, Harris sees potential for a larger monthly gain in hourly earnings than is being forecast given that wages were flat month-over-month in July. 

Paul Dales at Capital Economics sees payrolls coming in at 225,000, writing that, "There are no real reasons to believe that the 209,000 increase in payrolls in July, which was the smallest rise in four months, is the start of a sustained slowdown in job growth."

Joe LaVorgna at Deutsche Bank sees payrolls coming in at 200,000, and Jim O'Sullivan at High Frequency Economics sees payrolls growing by 225,000. 

According to data from Bloomberg, the high estimate among Wall Street economists is 300,000, with the low estimate coming in at 190,000. 

We'll see you Friday morning for complete live coverage on Business Insider. 

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All Signs Point To A Monster Apple Event Next Week (AAPL)

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apple iphone 6 event countdown

What you see above is a somewhat unusual move for Apple. Typically, the company doesn't spend much time teasing product announcements beyond cryptic invitations to the press. (There was that time it teased the Beatles coming to iTunes, but that was also an anomaly.)

But on Thursday, Apple posted a countdown clock for its next product announcement, which will be on Sept. 9. 

Yes, Apple has streamed its last few events, but this is the only one in recent memory that it has teased one in full force. Apple CEO Tim Cook even chimed in Thursday afternoon:

Then there's the giant temporary building its constructing next to the Flint Center in Cupertino, Calif., where the event will be held. It's also the same location where Steve Jobs unveiled the original Mac. The structure big enough to fit a gymnasium.

apple-flint-center-sept-9

Why all the fuss?

Sept. 9 will be when Apple kicks off what VP Eddy Cue previously called"the best product pipeline that I've seen in my 25 years at Apple." It's going to be the initial batch in the mother lode of new Apple gadgets.

Apple hasn't released a single new product this year, save for some minor updates to a few MacBooks models. Instead, it's waiting until next week to start packing it all into the fall.

And there's going to be a lot on Sept. 9: Two new iPhones with bigger screens (one with a 4.7-inch screen and another with a 5.5-inch screen), a wearable computing device, and the introduction of a mobile payments system.

It sounds like this won't be your typical Apple event. It's going to be huge.

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MakerBot CEO Bre Pettis Steps Down

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bre pettis, makerbot, june 2012, bi, dngBre Pettis, MakerBot’s co-founder and CEO, will step down from his position to lead a new initiative called “Innovation Workshop,” 3D Print reported Thursday.

It’s unclear what exactly Pettis will be in charge of in his new role, but he will remain within Stratasys, the 3D printing company that acquired Makerbot for $403 million last year, the report said. 

He will also be a board member of MakerBot, while Jenny Lawton will take over the CEO position.

3D Print initially reported the news yesterday, based on an ‘anonymous tip,’ but it was made official today after Stratesys CEO David Reis released the following statement (via 3D Print):

“Stratasys and MakerBot are excited to announce some management changes at MakerBot that will take effect in the 3rd and 4th quarter of 2014 and into January 2015. Most notably, Bre Pettis will be transitioning from the day-to-day activities of management to a position with Stratasys where he will be able to influence and direct the vision of MakerBot and Stratasys; he will also be a member of the MakerBot Board of Directors. Jenny Lawton, president of MakerBot, will be promoted to the role of CEO of MakerBot; Frank Alfano is being moved from chief revenue officer to president. Aric Jennings, chief operations officer for MakerBot, will also transition into the international role of vice president of global manufacturing for Stratasys. We are excited about these promotions and pleased to continue the positive momentum that Sratasys and MakerBot have experienced and achieved.”

Pettis is one of the co-founders of MakerBot, a leading desktop 3D printing manufacturer. MakerBot was founded in 2009 and has won numerous awards for its groundbreaking technology, including Time Magazine’s Best Inventions of 2012. 

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New Book Claims Top CIA Officer In Benghazi Told Commandos To 'Stand Down' During Attack

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benghazi

A new book titled "13 Hours" set for release on Sep. 9 cites five commandos who were guarding the CIA Annex in Benghazi, Libya with an explosive claim that the CIA Station Chief told them to "stand down" from any rescue attempt, The New York Times reports.

The book, written by Boston University journalism professor Mitchell Zuckoff, details the events of the Sep. 11, 2012 attack on the U.S. Consulate in Benghazi, which resulted in the deaths of Ambassador Chris Stevens, and CIA contractors Tyrone Woods and Glen Doherty.

Here's the relevant portion from the Times:

In a new book scheduled for release next week and obtained by The New York Times, the commandos say they protested repeatedly as the station chief ordered them to wait in their vehicles, fully armed, for 20 minutes while the attack on the diplomatic mission was unfolding less than a mile away.

“If you guys do not get here, we are going to die!” a diplomatic security agent then shouted to them over the radio, the commandos say in the book, and they left the base in defiance of the chief’s continuing order to “stand down.”

The report comes with a big caveat: Times reporter David Kirkpatrick writes that the commandos' account "suggests that the station chief issued the 'stand down' orders on his own authority."

It's also a very different story from the one being told by multiple investigative committees. In February 2014, a report from the House Armed Services Commit ee said "there was no 'stand down' order issued to U.S. military personnel in Tripoli." 

To the claim that commandos at the Annex were told to stand down, a Senate Intelligence Committee report in January concluded that wasn't the case either, according to The Washington Post. 

"Although some members of the security team expressed frustration that they were unable to respond more quickly to the Mission compound, the Committee found no evidence of intentional delay or obstruction by the Chief of Base or any other party," read the report.

Read the full story at The Times >

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Obama Shows His Cards Too Often In Foreign Policy

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John Kerry Barack Obama note

He calls himself a "pretty good" poker player. Barack Obama's poker-buddies, including Illinois politicians who played with him weekly when he was a state senator, tend to agree.

Quizzed by profile-writers, they have described a cautious, canny card player. Mr Obama would bluff only if he had halfway-decent cards, they recalled. When opponents bet high, Mr Obama would not engage unless he held a strong hand of his own.

As president, he is said to favour a more demure card game, spades. That may be just as well. At a bumpy moment in history, Mr Obama is strikingly, even confoundingly, reluctant to bluff.

When needs must, Mr Obama can summon the language of superpower resolve. Speaking on September 3rd in Estonia—an ex-Soviet republic reborn as an eager member of NATO and the European Union—the president struck a stalwart tone.

nato members obama rasmussen"You lost your independence once before. With NATO, you will never lose it again," he told young Estonians in Tallinn, their capital.

Mr Obama backs plans to rotate American forces continuously through the Baltic republics. But such promises are rooted in treaty obligations.

Alas for Ukraine, as Mr Obama frequently points out, it is not a member of NATO. So America has played an ambiguous role there, criticising Russian aggression and leading a push for sanctions against Mr Putin's inner circle.

"Borders cannot be redrawn at the barrel of a gun," Mr Obama told Estonians. But he also made clear America would not use military power to enforce that principle in Ukraine.

Other presidents have often embraced strategic ambiguities, using them to unsettle and deter adversaries. Mr Obama takes a different view, using speeches and press briefings to shut options down.

There will be no military solution to the Ukrainian crisis, he has volunteered several times. Instead America will use diplomatic and financial levers to help Ukraine, and to prod Russia to see that its "brazen" actions are self-defeating in the long run.

Nor is this Mr Obama's sole area of anti-bluffing. Republicans jumped on his remark on August 28th that "we don't have a strategy yet" for dealing with the fanatics of the Islamic State (IS): proof, they charge, that a feckless president has no idea how to stop the world spiralling into chaos.

In Tallinn Mr Obama—a touch peevishly—insisted he had been narrowly talking about a military strategy in Syria that might need congressional approval.

Actually, that understates Mr Obama's foreign-policy candour. American military power can put a temporary lid on such menaces as IS, but that does nothing to force Iraqis or other regional players to take responsibility for their security, he has said many times.

Shiite tribal fighters isis iraqIn Mr Obama's not-very-swaggering words, America's proper role is to promote a more inclusive Iraqi government, to "cobble together" a regional coalition to degrade and curb IS, and, in the long term, to "stabilise Syria in some fashion".

Mr Obama has also taken to downplaying domestic expectations. September 1st, Labour Day, saw the president in Milwaukee addressing a friendly crowd of trade unionists.

As he often does nowadays, two months from mid-term elections which could see Republicans take full control of Congress, Mr Obama assured the crowd that America's economy was recovering, even if watching the TV news was one long "downer" of grim headlines.

But the passage that struck Lexington, watching alongside burly folk in union T-shirts, some in Stars-and-Stripes hard hats, touched on the frustration of seeing much of his agenda blocked by Congress.

Mr Obama did not pretend that this would change soon. Before the 2012 elections Democrats swore that Republicans' "fever" would break if Mr Obama were re-elected.

Now, the president merely urged his allies in the unions to wear Republicans down, putting their faith in persistence and organisation. Sometimes campaigners have to take half a loaf, or even a quarter, he added. Progress can be slow.

Given that the president is canny as well as cautious, what explains his willingness to show his cards like this? Listen to Mr Obama, and the idea seems to be that dashing false hopes can be usefully bracing. The president often makes America sound like a parent who needs to intervene less if other countries are to grow up and take responsibility for problems only they can fix.

Lots of Americans agree. Straw-polled near Milwaukee's lakefront, locals talked with passion about Americans deployed to war zones since 2001, returning home with physical and mental scars.

Supporters praised the president for shunning tangled, sectarian conflicts in Iraq and Syria, while sceptics called him too cautious. Nobody wanted American troops on the ground.

Yes We Can ObamaNo, we can't

In domestic politics, too, Mr Obama's downbeat tone has its own logic. He approaches November's elections with dismal approval ratings, but must do what he can to boost Democratic turnout.

Few would listen if he promised the whole nation hope, change and unity, as he once did. Instead, he addresses Democrats, urging them to channel their frustration into getting organised.

Yet Mr Obama's tactics carry risks. Many Americans are used to the clout that comes with being a global cop, even if they are tired of the role. The president is describing political reality. But "We don't like that reality," says Roger Quindel, a Vietnam veteran watching the Milwaukee speech.

Confronted with images of American journalists being murdered by Islamic radicals, many Americans agree. Almost a third say their country does too little to solve world problems, finds a new Pew poll, up from 17% in November, with the biggest swing among Republicans.

Mr Obama is right that America cannot fix the world alone. His message of tough love is supposed to make coalition-building easier (and to his credit, holding back American support has just helped to push a bad prime minister out in Iraq). The problems start when the world hears not canniness but indifference.

Compared with that, even bluster is better.

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SEE ALSO: Hundreds Of Westerners Have Joined ISIS — Here's Where They Came From

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Under Armour Surpasses Adidas In Huge Sportswear Shift

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under armour girl back-to-school

Under Armour has surpassed Adidas to become the second biggest sportswear brand in the U.S. by sales, the Wall Street Journal reports.

The Baltimore-based company has overtaken its German rival with sales growth of 20% to $1.2 billion so far this year. Over the same time period, Adidas' sales have fallen 23% to $1.1 billion, according to the Journal.

Nike is still far ahead of both companies, with $8.9 billion in sales for the period.

Best known for its performance wear, Under Armour has grown rapidly over the last 18 years. When it was founded in 1996, it had $17,000 in revenue. This year, it's expected to bring in $3 billion.

The company has been investing in endorsement deals to compete with Nike, which has long had a monopoly over the biggest names in sports.

Under Armour recently snagged a deal with supermodel Gisele Bundchen shortly after launching its largest-ever global women's marketing campaign. And earlier this year, Under Armour scored the biggest equipment deal in college sports. 

The company recently lost a bid for basketball star Kevin Durant to Nike, but Under Armour CEO Kevin Plank said he wasn't deterred by the failure.

"We're going to grow 20%-plus next year with or without the deal," Plank told Bloomberg TV's Stephanie Ruhle. "We wanted to send a message to every athletic director, to every president of every team club, to every league commissioner, that if you have a deal, there's no deal too big for us."

SEE ALSO: Under Armour CEO Is Thrilled That Nike Is So Threatened By His Company

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A Big-Name US Biotech Firm Is Going On A $1 Billion Spending Spree

JACK MA: 'We Will Be Judged By How Much Progress We Bring To The World' (BABA, YHOO)

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Jack Ma picture

In Alibaba's most recent filing with the SEC, executive chairman and founder Jack Ma issues a letter to prospective investors.

Among other things, the letter addresses the company's core business model and vision, writing that the company's vision, "makes it impossible for us to become an empire-like business."

Ma also writes that the company plans to "fight for the little guy," and that the company, "will be judged by how much progress we bring to the world."

Alibaba's IPO is set to be among the largest, if not the largest, in NYSE history, and could make Ma the richest man in China.

Here's the full-text of the letter, which is well worth reading in full. 

Dear Investors,

Thank you for taking the time to read our prospectus, and for considering investing your precious resources in our company. If you invest with us, you will be embarking on a journey with Alibaba, and in this letter I would like to share with you some of our thoughts and beliefs for the future.

Our Mission and Vision

Alibaba is a values-based company driven by our mission "to make it easy to do business anywhere." Our proposition is simple: we want to help small businesses grow by solving their problems through Internet technology. We fight for the little guy. Since our founding in 1999, we have helped millions of small businesses to achieve a brighter future, and we hope to do this for at least 102 years, thus spanning our company’s life over at least three centuries.

We do not simply attempt to push the boundaries of technology — instead we seek to harness technological improvements to expand the boundaries of business. Alibaba is not the creation of a few technology innovations or a couple of whiz kids. We have developed an ecosystem that has been built by tens of millions of participants who are passionate about the future and steadfast in their belief that the Internet should be fair, open, transparent and shared. Together, these participants have invested time, energy and passion into this ecosystem, and today the world can see what they have accomplished.

From the very beginning our founders have aspired to create a company founded by Chinese people but that belongs to the world. In the past decade, we measured ourselves by how much we changed China. In the future, we will be judged by how much progress we bring to the world. This challenge is enormous, but it is also a blessing to have this rare opportunity. This challenge requires us to do our best day-to-day, but most importantly it requires us to think about what is best over the long-term.

Our Ecosystem-based Business Model

Alibaba’s mission makes it impossible for us to become an empire-like business. We believe that only by creating an open, collaborative and prosperous ecosystem that enables its constituents to fully participate can we truly help our small business and consumer customers. As stewards of this ecosystem, we spend our focus, effort, time and energy on initiatives that will benefit the greater good of the ecosystem and its various participants. We can only be successful if our customers and business partners are successful.

We firmly believe that businesses in the 21st century must take responsibility to help solve the problems of society. In the history of our development, social responsibility has always been embedded in our corporate DNA. We believe that a healthy and prosperous ecosystem can only be achieved through solving large-scale problems of society.

The Internet has given us a once-in-a-lifetime opportunity to create a new business paradigm in China. This transformative work will not be easy, and it will require us to be consistent, to work across many dimensions, and to focus on what’s best for the long-term benefit of our ecosystem and its participants. In addition, our mission requires our company to behave with the utmost degree of fairness, transparency and efficiency toward participants in the ecosystem. This is not only a moral duty, but also the foundation of our own survival and growth. Our hard work has awarded us unique advantages — the complexity of our ecosystem and the challenges of sustaining its vigor mean that it is not easily replicated by others.

If you own shares in our company, you will become a part of our ecosystem. This means that the Alibaba team will have a duty to look after your interests. But it will also mean that you will have an important responsibility to help us maintain and grow our ecosystem by sharing our view that success will be defined as sustainable, long-term growth and prosperity.

How We Will Meet Our Challenges

Our journey over the past 15 years has not been easy, and we have faced our share of challenges. We have often found ourselves in complex situations where we must make difficult choices among competing interests: between buyers and sellers; between competing sellers; between entrepreneurialism and regulation; between innovation and the need for stability. Behind every substantial innovation or step forward, we have encountered and will continue to encounter resistance from vested interests who prefer the status quo.

In addition, many problems in the real world manifest themselves in different shapes and forms in our ecosystem, including intellectual property infringement and those who seek to exploit our ecosystem for unfair gains. Like all companies today, we must grapple with these tough issues. Even an ecosystem built on the Internet cannot be entirely free from problems in the traditional economy, because the participants in our ecosystem and their activities cannot be isolated from the physical world. It is by no means easy to handle these issues because there are no perfect solutions to regulate an economy to begin with. By the same token, an ecosystem cannot be perfectly designed ahead of time because it evolves organically. Alibaba’s development therefore must embrace rapid change according to our evolving environment.

After we become a public company in the United States, we will face new challenging issues. When an Internet company of our scale that originated from China enters the global scene, you should expect that it will encounter skepticism from different directions due to differences in cultural perspectives, values and even geopolitical positioning. While it may be difficult for a public Alibaba to side-step controversy, we hope that controversies generate constructive debate and add fresh perspectives to the dialogue on globalization.

It is not our style to shy away from challenges. As a shareholder of Alibaba, you can rest assured that we will stick to our ideals, be ourselves, focus on the future and adhere to the principles of integrity and transparency in our corporate governance. We will act in a way to safeguard the long-term value and sustainability of the ecosystem. Your trust and support will be our greatest asset, and our creed is to not forsake the trust that people have in us.

How We Set Priorities

I have said on numerous occasions that we will put "customers first, employees second, and shareholders third." I can see that investors who hear this for the first time may find it a bit hard to understand.

Let me be clear: as fiduciaries of the company, we believe that the only way for Alibaba to create long-term value for shareholders is to create sustainable value for customers. So customers must come first.

Next come our employees, because in today’s knowledge economy, employees are most important in having satisfied customers. Without talented, happy, diligent and passionately committed employees, our commitment to serving customers will be empty. A company that does not have satisfied employees will not have satisfied customers, and without satisfied customers, we could not possibly have satisfied shareholders.

We respect and are grateful for investors who support us with their precious capital. Our history with long-term investors, including Yahoo and SoftBank, has demonstrated that our investors can benefit substantially from sharing our long-term approach. Not only that, our investors will also derive satisfaction in knowing that they will help Alibaba to create jobs, spur innovation, level the playing field for small businesses, and drive transformation for social and economic growth.

Our company will not make decisions based on short-term revenues or profits. Our strategies will be implemented with mission-driven, long-term development in mind. Our people, capital, technology and resources will be utilized to safeguard the sustainable development and growth of the Alibaba ecosystem. We welcome investors with the same long-term mindset.

Corporate Governance

To ensure the sustainability of the company and the interests of our customers, employees, investors and other ecosystem participants, we have always operated under the principles of collaboration and shared commitment among those who are responsible for our business. This operating philosophy is embodied in the Alibaba Partnership. We believe that our partnership approach has helped us to better manage our business, with the peer nature of the partnership enabling senior managers to work as a team and override bureaucracy and hierarchy.

Our ecosystem is too complex — and too important — for us to depend on one or two founders or executives, no matter how capable they are. We must deal with the issue of sustainability and succession systematically. Our partnership system promotes people with different skill sets but all having the same beliefs and values. It is not a system established to protect individual interests. It exists to safeguard our mission, values, vision and culture. Each year, by admitting new partners, we inject new energy and perspectives. In this way, we can ensure that our operations will continue to improve with time and scale.

In the interest of building a business ecosystem that is healthy, sustainable and growing, the corporate charter of the company empowers the partners in the Alibaba Partnership to have a strong say in charting the strategic direction and moral compass of the company. We have invested a lot of thought into creating this structure and, with a heavy sense of responsibility, we exercise great care in the selection and admission of partners to the partnership. I encourage you to study the description of the Alibaba Partnership in the prospectus to learn more about our philosophical approach to this important aspect of corporate governance, an aspect that we believe is unique and innovative.

Following our IPO, you will receive a letter like this one each year in our annual report. My partners in the Alibaba Partnership will take turns writing the annual letter.

I would like to thank you for considering an ownership in Alibaba. My colleagues and I would like to assure you that we are committed to serving the Alibaba ecosystem for the benefit of all of its constituents.

Jack Ma

Executive Chairman

Alibaba Group Holding Limited

SEE ALSO: Alibaba To Raise $21 Billion In Historic IPO

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'Influential Designer' Marc Newson Is Apple Genius Jony Ive's Latest Hire (AAPL)

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Jony Ive and Marc NewsonMarc Newson will join Jony Ive's design team at Apple, according to Vanity Fair's Kia Makarechi.

Ive called Newson "one of the most influential designers of this generation" in a statement to Vanity Fair. The two designers are reportedly close friends.

Newson and Ive have collaborated on projects before. Last year they designed this Leica camera for Bono's (RED) auction:

John Ive Charity Camera Leica

Newson will work on projects outside Apple as well, according to Vanity Fair.

It's also interesting to note that Newson has designed luxury watches, and even started his own watch brand. 

His hire comes as Apple has begun positioning itself as a luxury brand. The tech goliath recently poached Burberry's CEO, Angela Ahrendts.

Paul Deneve — now Apple's VP of Special Projects — came to Cupertino last year after serving as CEO of Yves Saint Laurent.

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