Selasa, 26 Juni 2012

Brand Becker: Life after tennis for Wimbledon legend

25 June 2012 Last updated at 23:00 GMT Boris Becker lifting his first Wimbledon trophy in 1985 Boris Becker won three of the seven Wimbledon finals he reached When Boris Becker won his first Wimbledon title in 1985 he picked up a cheque for £130,000 ($200,000).

By the time he retired in 1999 - having won six Grand Slams, an Olympic Gold, and 49 titles, he had amassed winnings of £25m - and possibly an equal figure in sponsorship deals.

So why didn't he simply retire into a life of luxury, rather than spending his time and energy building up Brand Becker?

"For a couple of years, I wasn't doing anything. I had a difficult moment in my private life, I had a divorce, so I really had to settle down and start afresh," he recalls.

"But obviously, after just doing nothing, apart from playing golf and taking too many holidays, you get bored quickly and I felt that at 35 years of age there was a lot more I could ask from life on a professional level and there were so many things I wanted to do," he says.

He then began thinking about what talents he had and which people he wanted around him.

"One things leads to another and the next thing is that you have got an office, maybe two, and you are busy with all different things."

Building success

He points out how his father told him that he would not be a tennis player forever and that he had to invest his money wisely.

"He taught me that tennis could always be over tomorrow - you can break your leg, you can break your arm, you may lose motivation, but you still have a family, you still have to support everybody," he says.

"My father was originally an architect so my first love was real estate," he notes.

"Being on building sites from an early age I had a bit of an eye about what could be a potential nice apartment, a nice house, or especially a nice location - I think that's the key," he says.

In his mid-20s he started buying real estate: "I wouldn't say I turned my hobby into a profession," he laughs, "but if I like something I get it."

Driving ambition

Mr Becker also opened up three Mercedes car dealerships and is now an ambassador for the brand.

But after a certain number of years the markets lose interest in an athlete and Mr Becker explains how he had to reinvent himself.

"I took my time, I think it is important to get rid of the idea that at 38 you can still play tennis," he says.

Boris Becker Boris Becker: I knew I was more fortunate than most from an early age

"Of course you can still play but you are not going to be competitive so you have to find something else.

"I wanted to try myself in different areas. I wanted to put my feet into the water and just try different things," he explains.

The name game

He points out that not everything has worked and that: "A business or two has failed."

It has been widely reported that he received a two-year suspended sentence in Germany over tax-related issues, and that his property in Majorca was at the heart of a legal row over non-payment of bills, but the most notable failure in his real estate ventures was the Becker Tower in Dubai - something he particularly regrets.

"I gave them my name which is everything I have, but I was not responsible for the financing of the building.

"When the bubble called Dubai burst, the business of the tower went down as well. I wouldn't say that I was responsible but the business didn't work and it was not good," he muses.

"With the tower I only gave my name and let the builders do the work, but I have tested most of the tennis racquets which bear my name," he says.

More importantly, he is involved with the marketing of the racquets.

"I have an understanding of what sports marketing and branding is all about, so I feel that I can bring a few things to the table that a normal investor wouldn't know about," he asserts.

Relentless drive

The failure of the Becker Tower has left him more cautious and for that reason, he does not invest in the stock market.

"I don't understand it enough and I don't want some 25-year-old explaining something to me that he's not sure about himself the next day," he says.

"The last thing I want is to invest my money again in a risky business," he notes, "I prefer real estate, with long-term slow growth but, in 10 or 15 years, I can smile about it."

Boris Becker with Ion Tiriac Becker had sound advice from former manager Ion Tiriac, who himself later became a billionaire

With most of his projects bearing fruit, he says: "I'm 45 years old now and I'm comfortable in my second career."

When asked when he might consider retiring, he scoffs at the idea.

"Retire into what? I love what I do. I don't get up in the morning and say I hate my job, I don't want to go to the office," he says.

"I really love what I do. I had moments when I was really bored and that's not a good feeling," he reflects.

"I'm happy. I'm in a good place now and I can't imagine not working ever," he adds.


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Shire hit as rival drug approved

25 June 2012 Last updated at 09:53 GMT Continue reading the main story Shares in pharmaceutical company Shire fell almost 13% after US regulators approved a rival's cut-price version of its drug Adderall XR.

The US Food and Drug Administration had approved Actavis Group's generic version of Shire's hyperactivity disorder drug on Saturday.

Despite the news, Shire said it would deliver good full-year earnings growth.

Shire's shares fell 12.7% in early trading, making it the biggest faller on the FTSE 100.

Adderall XR is Shire's second-biggest selling drug. Until now, Shire has been the sole producer of the two forms of Adderall XR, and analysts said the arrival of a new competitor would increase pricing pressure.

Deutsche Bank cut its 2012-2013 earnings forecast by 5-6% to reflect the new competition, but said it still expected double-digit growth from the drugmaker.

Shire said that it would remain competitive in the Adderall XR marketplace, and "continues to believe that it will deliver good, full year 2012 earnings growth".


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William Hill granted US licence

22 June 2012 Last updated at 09:06 GMT William Hill shop William Hill has about 2,370 betting shops in the UK William Hill has been given the green light to launch its first US operations after being granted a licence by the Nevada Gaming Commission.

Last year, the British bookmaker announced it was to buy three US companies, but the acquisitions were dependent on the awarding of a licence.

The deals are now expected to complete by the end of the month.

William Hill said it was the first British bookmaker to be licensed for sports wagering in the US.

Sports betting is legal under federal law in only four US states - Nevada, Delaware, Montana and Oregon.

"A Nevada gaming licence is recognised around the world as a significant regulatory seal of approval and we are proud to have earned it," said chief executive Ralph Topping.

"We are now able to bring together these three businesses to create a leading position in the US sports betting market, combining our brand and product range with AWI, Brandywine and Cal Neva's extensive footprint, strong local relationships and trusted service.

"We look forward to working with our new colleagues to grow a leadership position in the US gaming industry."


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Gas prices down 6% this month

gas prices

Click on map to check gas prices in your state.

NEW YORK (CNNMoney) -- Amid the global economic gloom, there's a ray of sunshine for summertime motorists in the U.S.: The price of gas has dropped 6% over the last month.

The national average price of unleaded gasoline fell to $3.45 per gallon, its tenth consecutive daily decrease, reported motorist club AAA on Friday. That's compared to a national average of $3.67 on May 22.

Prices haven't been this low since Feb. 1. To put things in perspective, the national average price of unleaded in the U.S. is down 66 cents, or 16%, from its record high of $4.11 on July 17, 2008.

"There's an enormous amount of production out there," said oil Dan Dicker, author of "Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy." "[But] the demand picture looks weak."

He said the weak demand -- due to Americans driving fewer miles in cars with better gas mileage - is coupled with sour reports on the economy from around the world. This includes the ongoing contraction of Chinese manufacturing, a 16.6% drop in the Philadelphia Federal Reserve's regional manufacturing index, and pessimistic comments from Federal Reserve Chairman Ben Bernanke.

The decline in gas prices has mirrored a similar descent in oil prices. Oil was trading at $78.72 per barrel on Friday, up 0.6% for the day but down 20% year to date. The last time oil was trading this low was on Oct. 4, 2011, when it closed at $75.67 per barrel. To top of page

First Published: June 22, 2012: 10:22 AM ET

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The No. 1 Killer of Meetings -- And What You Can Do About It


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What Can Obama Do to Ease Business Concerns About Economy?


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Obama loses cabinet member with business ties

John Bryson has resigned his Commerce post.

John Bryson has resigned from his Commerce post.

NEW YORK (CNNMoney) -- John Bryson resigned his post as Commerce Secretary on Thursday, less than two weeks after an episode involving a seizure and a series of traffic accidents.

Bryson, a former energy industry CEO, had served in the position since October, and his departure leaves the Obama administration with one fewer private-sector luminary.

Bryson brought significant business experience to the Commerce Department, having served as CEO and chairman of the parent company of Southern California Edison (EIX, Fortune 500) for almost 20 years.

Bryson retired from Edison in 2008, and was working as a senior adviser at private equity firm Kohlberg Kravis Roberts & Co (KKR) at the time of his nomination.

Bryson's selection was widely viewed as an example of the Obama administration's efforts to improve its occasionally rocky relationship with the business community.

But the former CEO's nomination was held up for months by Republican lawmakers who wanted to prioritize free trade agreements with Colombia, South Korea and Panama.

Bryson was eventually confirmed by the Senate in October.

It was not immediately clear who will succeed Bryson, but Obama voiced support in a written statement for acting director Rebecca Blank, an academic with ties to the Clinton administration.

With only a few months before Election Day, the Obama administration may not make any immediate moves to replace Bryson.

Shepherding a nominee through the confirmation process at this late date would almost certainly be turned into a political exercise -- a fact that makes the cabinet position much less attractive for potential nominees.

And top-shelf candidates may also be deterred by the position's potentially short shelf life. Should Mitt Romney defeat Obama in November, Bryson's replacement would almost certainly be out of a job.

Bryson's departure is just the latest example of upheaval at Commerce, which has endured much turnover in its top ranks.

Obama's first choice to lead the department, former New Mexico Gov. Bill Richardson, withdrew his nomination, citing a federal investigation into his ties to a company that had done business with his state.

Former Republican Sen. Judd Gregg, Obama's second choice, withdrew his nomination after clashing with the administration over its stimulus bill and the 2010 census.

Former Washington Gov. Gary Locke was finally confirmed to the position in March, 2009. Bryson succeeded the departing Locke, who left to become the American ambassador to China.

Bryson was part of a wave of business-oriented appointments made by the White House.

In January of 2011, Obama brought banker and lawyer William Daley on board as his chief of staff after suffering a self-described "shellacking" in the midterm elections.

And General Electric (GE, Fortune 500) boss Jeffrey Immelt signed on to lead the president's new Council on Jobs and Competitiveness.

The White House is once again a little thin at that position following the departures of Bryson and Daley, who announced in January he was leaving the administration.

Bryson, 68, had been on a medical leave of absence since his involvement in two auto accidents in California that his office indicated were linked to the seizure.

Police said Bryson was found unconscious at the wheel of his car after the accidents, and was issued a citation at an area hospital where he received treatment.

Authorities must still decide whether to formally file charges. To top of page


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