Consumer Reports Poll: 65 Percent of Consumers Expect to Cut Back on Holiday Spending

/PRNewswire/ -- The effects of ongoing economic turbulence continue to weigh heavily on the pocketbooks and minds of shoppers as the 2009 holiday season approaches. According to a new Consumer Reports Holiday Shopping Poll, 65 percent of Americans plan to cut back on overall holiday expenses such as gifts, travel, and entertaining. The full results of this latest poll are available at www.ConsumerReports.org.

The anticipated decrease in spending comes on top of already dramatic cutbacks that occurred last year. In the 2008 Consumer Reports Holiday Shopping Poll, 76 percent of those surveyed said they were scaling back on holiday spending.

The projected decrease in spending is likely to be felt in almost every category. Those surveyed said they're cutting back on purchases of clothing and electronics (still the biggest seasonal gift categories), as well as other items such as gift cards, monetary presents, and jewelry.

Consistent with 2008's findings, Consumer Reports Holiday Shopping Poll also found that some consumers are still saddled with leftover holiday debt. Six percent of Americans--some 13.5 million consumers--continue to carry debt from last winter's holiday season.

"This year, it all comes down to value and getting the best bang for your shopping dollar," said Tod Marks, Consumer Reports senior editor and resident shopping expert. "We've already seen aggressive discounts that make it seem more like November 28 rather than October 28, but retailers are getting more sophisticated about targeting their promotions to their best customers."

Additional findings from the Consumer Reports Holiday Shopping Poll include:

The Gift List: Who's In? Who's Out?

-- Among consumers scaling back on gifts, most (78%) were willing to cut
back on buying for themselves, followed by friends and their families,
other family members, coworkers, and service providers like delivery
personnel and fitness trainers. Among those most likely to be spared
from the budgetary axe: Grandparents, grandchildren, kids under 18,
and the family pet.

A Few Favorite Things

-- Despite the gloomy outlook sales of certain products - notably
desktop, laptop, and netbook computers, cell phones and smart phones,
video game systems, and GPS systems - are expected to at least hold
their own, according to our poll.

Hitting the Stores
-- Similar to the past two holiday shopping seasons, the 2009 holiday
shopping season has begun with about a third of consumers reporting
that they have started their shopping as of mid-October.

-- Only about half (46%) of consumers anticipate they will be done buying
gifts by the second week in December. Approximately 18 percent say
they will push their holiday shopping right up to December 24th. About
4 percent of consumers don't plan to complete their shopping until
after the holidays.

Sticking to a Budget or Not?

-- This year, half (50%) of Americans will be making a budget for their
holiday purchases, yet sticking to it is bound to be a challenge. Of
the 38 percent of consumers who made a budget last year, 44 percent
reported that they exceeded it; five percent said they went way over
budget.

Most (& Least) Wanted Gifts
-- Clothing remains the biggest category, and 52 percent of consumers
plan to give apparel as a gift. But you might want to choose
carefully. Thirty-seven percent of recipients - particularly men -
cited clothes as their biggest gift disappointment of 2008. Socks were
still the single most hated item, but shirts, sweaters, slippers, and
ties, made the list, too.
-- Electronics gear also ranks among the most desirable gifts for both
men and women, and 51 percent of respondents plan on giving recipients
items such as video games or accessories, digital cameras, headphones,
or other gadgets.
-- Other gifts consumers plan on giving this season include gift cards
(46%), followed by money (44%), toys (42%), DVDs (31%), food or wine
(28%), jewelry (26%) and pet toys (19%).

Especially For You?

-- Tis' the season to give and receive and to re-gift what you've
received. According to the poll, 36 percent of adults have given a
gift they have received from someone else to another person as a
holiday gift. That's up from 31 percent in 2008.

The Perils of Gift Cards
-- Despite their drawbacks - fees, expiration dates, and the like - many
people plan on buying gift cards (46%) and many want them (15%) as
well. During the 2008 holidays, about half of adults received a gift
card, but one in four hadn't redeemed at least one of the cards as of
this month.
-- Sixty-five percent of adults who received a gift card in 2008
typically spend more than the value of the card, up from 58 percent in
2007. Forty-one percent of those who have unused gift cards from last
year said that they hadn't found anything they wanted to buy. This
year, lack of time was less of a factor in not redeeming gift cards;
only 37 percent of respondents reporting that they hadn't had time to
redeem their cards, down from 54 percent last year.

Happy Holidays

-- Despite continued cutbacks, a majority (87%) of adults remain hopeful
that their holiday season will be as happy or even happier than last
year.

Consumer Reports Holiday Shopping Poll Methodology

The Consumer Reports National Research Center conducted a telephone survey of a nationally representative probability sample of telephone households. 1,000 interviews were completed among adults aged 18+. Interviewing took place over October 15-18, 2009. The margin of error is +/- 3% points at a 95% confidence level.

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Opposite of a Tax Decrease is an Increase

Uhhh--eliminating a tax decrease-- uh-- it' a tax increase --





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Big Win for Academic Inventors

Federal Circuit Court Hands Academic Inventors a Big Win – IP Advocate Founder Says Decision Affirms That Faculty Inventors, Not Universities, Own Their Inventions

(BUSINESS WIRE)--IP Advocate:

A recent Federal Circuit Court decision confirms that universities do not automatically have the right to claim ownership of a faculty researcher’s federally funded invention. That’s a critical distinction that could protect faculty inventors and students nationwide from being forced by universities to sign away the rights to their life’s work, according to Dr. Renee Kaswan, inventor of the billion-dollar drug Restasis® and founder of the non-profit organization IPAdvocate.org.

“The court’s ruling confirms that faculty inventors own the rights to their ideas and their creations, and that universities can no longer use the Bayh-Dole Act as a bulldozer to claim ownership away from the inventors themselves,” said Dr. Kaswan. “Inventors should be able to choose for themselves with whom to partner to bring an innovation to the marketplace and to the people who need it. Stanford’s policy is more inventor-friendly than most, but it’s the overarching principle of inventor ownership that wins in this case.”

U.S. Court of Appeals for the Federal Circuit
Board of Trustees of the Leland Stanford Junior University v. Roche Molecular Systems, Inc. The patents involved HIV test kits.

Decision on September 30, 2009; opinion authored by Federal Circuit Judge Richard Linn. See the opinion here: http://www.cafc.uscourts.gov/opinions/08-1509r.pdf

The Court rejected Stanford's argument that one of the inventors’ assignment of rights to another entity, Cetus, was voided by the university's rights to federally funded inventions under the Bayh-Dole Act. The court’s ruling states: “Bayh-Dole does not automatically void ab initio [from the beginning] the inventors’ rights in government-funded inventions.”

Why this matters now: The 30th anniversary of the Bayh-Dole Act of 1980 is just around the corner, and it’s time to correct the rampant misuse of the law to take IP ownership away from faculty inventors. As the Obama Administration and Congress push for patent reform, and as the country relies on innovation as an engine of economic recovery, the question of the ownership of ideas is crucial in moving those ideas forward from an inventor’s mind to an entrepreneur’s office to a consumer’s bedside table as quickly as possible.

Dr. Renee Kaswan is founder of the non-profit organization, IP Advocate (www.IPAdvocate.org), inventor of the billion-dollar drug Restasis®, founder of Georgia Veterinary Specialists and former University of Georgia Veterinary Ophthalmology professor. Her patented treatment for chronic dry-eye remains the most profitable invention in UGA’s history and has been hailed as one of the “University Innovations that Changed the World” by the University of Virginia Patent Foundation. Dr. Kaswan was recognized by the University of Georgia as its “Inventor of the Year” in 1998 and received UGA’s Creative Research Medal in 1992.

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Arts Across Georgia

Shareholders Challenge Goldman Sachs as It Prepares To Pay Record Bonuses

/PRNewswire/ -- Goldman Sachs is issuing its much anticipated earnings announcement on Thursday (October 15, 2009), and is expected to set aside up to $20 billion for executive bonuses. In view of this action coming so quickly on the heels of the federal bailout money issued to the company during the height of the financial crisis last year, investors are responding by mounting major proxy initiatives.

The Nathan Cummings Foundation and the Benedictine Sisters of Mt. Angel, Oregon announced today that they have filed a shareholder resolution urging the Board to review pay disparity at the company and analyze the appropriateness of its spiraling pay packages - packages that have an unprecedented impact on Wall Street compensation in general,

The resolution, which is expected to gather more co-sponsors, has been filed early to challenge Goldman Sachs as the Board makes final decisions on bonuses. It was filed to appear in the 2010 proxy and be voted on at the stockholder's meeting. Goldman Sachs had received resolutions calling for shareholders to have an Advisory Vote on executive compensation that received a 46% vote in favor, but the Board has resisted implementing even that modest reform. Other investors may also file resolutions calling for a "say on pay" or for separation of board chair and CEO positions at Goldman Sachs.

Laura Shaffer, who is director of shareholder activities of the Nathan Cummings Foundation and one of the resolution's sponsors, stated: "This request is especially timely as Goldman Sachs rushes to pay huge bonuses, setting an example that many Wall Street firms will no doubt strive to emulate. As shareholders, the ripple effects of this extraordinary compensation are especially concerning. Executive compensation accounts for a considerable portion of aggregate earnings and as firms like Goldman hand over ever larger sums to their executives, these spiraling pay packages will have increasingly significant impacts on investors' returns."

Sister Judy Byron, who coordinates the faith-based Northwest Coalition for Responsible Investment and is a longtime proponent of this resolution, said: "Goldman Sachs' announcement of record bonuses is a stark reminder about how executive compensation is spiraling out of control for many firms. It is important that citizens and shareowners both act as voices of reason. As Fortune reminded us in 2007, top executives earn 364 times the pay of the average worker. CEO pay increases significantly for many executives even in rough times, while layoffs skyrocket and pay for average employees stagnate.

Laura Berry, executive director of the Interfaith Council on Corporate Responsibility, said: "As prudent investors, we have a responsibility here to act as the conscience of Wall Street, especially when it fails to do so on its own. How is it possible that the year after billions of taxpayer's dollars helped companies like Goldman Sachs return to financial health, this company shows absolutely no restraint? Goldman Sachs is poised to become the poster child of the company that drives income disparity in the United States."

FULL RESOLUTION TEXT

Recent events have increased concerns about the extraordinarily high levels of executive compensation at many U.S. corporations. Concerns about the structure of executive compensation packages have also intensified, with some suggesting that the compensation system incentivized excessive risk-taking.

In a Forbes article on Wall Street pay, the director of the Program on Corporate Governance at Harvard Law School noted that, "compensation policies will prove to be quite costly--excessively costly--to shareholders." Another study by Glass Lewis & Co. declared that compensation packages for the most highly paid U.S. executives "have been so over-the-top that they have skewed the standards for what's reasonable." That study also found that CEO pay may be high even when performance is mediocre or dismal.

In 2008, Federal Appeals Court Judge Richard Posner stated that, "executive pay is out of control and the marketplace cannot be trusted to rein it in." Legislative attempts to address executive compensation include the Excessive Pay Shareholder Approval Act, which mandates that no employee's compensation may exceed 100 times the average compensation paid to all employees of a given company unless at least 60% of shareholders vote to approve such compensation.

A 2008 piece in BusinessWeek revealed that, "Chief executive officers at companies in the Standard & Poor's 500-stock index earned more than $4,000 an hour each [in 2007]." It also noted that an S&P 500 CEO had to work, on average, approximately 3 hours in 2007 "to earn what a minimum wage worker earned for the full year."

A September 2007 study of Fortune 500 firms showed that top executives' pay averaged $10.8 million the previous year, or more than 364 times the pay of the average U.S. worker. Another study by the Economic Policy Institute found that between 1989 and 2007, average CEO pay rose by 163% while the wages of the average worker in the United States rose by only 10%.

RESOLVED: shareholders request the Board's Compensation Committee initiate a review of our company's executive compensation policies and make available, upon request, a summary report of that review by October 1, 2010 (omitting confidential information and processed at a reasonable cost). We request that the report include -

1. A comparison of the total compensation package of senior executives and our employees' median wage in the United States in July 2000, July 2004 & July 2009.

2. An analysis of changes in the relative size of the gap and an analysis and rationale justifying this trend.

3. An evaluation of whether our senior executive compensation packages (including, but not limited to, options, benefits, perks, loans and retirement agreements) are "excessive" and should be modified to be kept within reasonable boundaries.

4. An explanation of whether sizable layoffs or the level of pay of our lowest paid workers should result in an adjustment of senior executive pay to "more reasonable and justifiable levels" and whether Goldman Sachs should monitor this comparison going forward.

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It's Official! "The Twilight Saga: Breaking Dawn" Gets The Green Light!

/24-7/ -- The fourth saga in the Twilight Series is going back to it's roots and will be filmed in Portland, Oregon. The original Twilight film was shot there. In addition, a new production company, Sunswept Entertainment, has been brought on board for Breaking Dawn. Sunswept Entertainment was created by Karen Rosenfelt, who is the daughter of former MGM Chairman & CEO Frank Edward Rosenfelt. Karen Rosenfelt served as Producer on both "Twilight" and on "The Twilight Saga: Eclipse". She did not work on "New Moon", but is producing "Breaking Dawn" through her Sunswept Entertainment banner.

There will likely be quite a bit of tweaking to the fourth novel in the series due to the explicit sex and birth scenes to avoid an R rating. Inside sources confirm that Breaking Dawn may be filmed and released in two parts - "The Twilight Saga: Breaking Dawn Part I", and "Part II". Although this has not been confirmed officially by Summit, author Stephenie Meyer has stated, "it would have to be made into multiple movies because it's hard to imagine it fitting into ninety minutes".

Fans can expect a massive talent search for the role of Renesmee Cullen, the half-vampire, half-human daughter of Edward Cullen and Bella Swan, just as there was for the roles of Seth and Leah Clearwater in "Eclipse".

David Slade is directing "The Twilight Saga: Eclipse", but it is unknown if he will also direct any of the Breaking Dawn films. "Breaking Dawn: Part I" should start shooting in September 2010, with a release scheduled for 2011.

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No Dollars Accepted for Payment?

RJ Note: Combine this story with the news of the new world order at the recent G20 meeting. Yep, this ought to give everyone the shivers.

The demise of the dollar

In a graphic illustration of the new world order, Arab states have launched secret moves with
China, Russia and France to stop using the US currency for oil trading

By Robert Fisk

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held....http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html

G-20 Advances New World Order, Media Admit
Alex Newman

26 September 2009
Almost as if a global memo had been sent out, headlines of major media outlets across the planet announced the unfolding of the coming “New World Order” — with a smaller role for the United States and freedom. A correspondingly larger role will be reserved for tyrannical governments like China and global economic management by international institutions, the news reports explained.

Even U.S. government-funded media outlets like Radio Free Europe/Radio Liberty used the term in an article headlined, “‘New World Order’ Emerging At G-20 Summit.” The article began: “A new world order is emerging.....http://www.thenewamerican.com/index.php/economy/commentary-mainmenu-43/1969-g20-advances-new-world-order-media-admit

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Political News You Can Use

Levi's(R) Brand Buries $100,000 Somewhere in America With the Challenge to Pioneers to 'Go Forth'

/PRNewswire/ -- The Levi's® brand challenges today's pioneers to uncover a $100,000 fortune buried somewhere in America by solving the question "Who was Grayson Ozias IV and where is his fortune?"

Launching October 5, 2009, at levi.com/goforth, this interactive challenge invites participants to solve mysteries as they unfold, keep up with other players or go for the gold themselves with the final cipher. It is a mystery, wrapped in a puzzle and an adventure across our country.

"The question we asked ourselves was 'how do we bring the spirit of Go Forth to life out there in the world? How do we bring the unique history and rich legacy of the Levi's® brand to life in a fun and compelling way?' The story of Grayson Ozias's lost fortune seemed like a mystery just waiting to be solved," says Doug Sweeny, Vice President of Levi's® Brand Marketing.

Grayson Ozias IV Fortune

The narrative behind the challenge follows Grayson Ozias IV, a fictional character based on the Levi's® brand's pioneering and innovative spirit, on his adventures across America until his 1896 disappearance into the wilderness, after hiding his considerable fortune. Grayson Ozias IV was a friend of Levi Strauss's nephew Nathan, so the story goes, who recorded newly discovered details about Grayson's journey that hint at the final hiding place of his fortune. These newly discovered recordings and the story they tell will lead participants on a new adventure of discovery.

The story of Grayson's 1890s adventure exploring America will guide our modern-day event. The game's scavenger hunt leads to many cities and towns across America, each a part of Grayson's journey, encourages players to step out from behind their computers and will lead some lucky player into the real world directly to the buried treasure. Each task triggers the next clue in the challenge.

The ongoing puzzle, an elaborate cryptogram, requires a combination of knowledge, skill and determination. The players will be receiving clues and pieces of the puzzle from launch to finish. The first player to crack the final puzzle and send it to the Levi's® game team will win Grayson Ozias's buried fortune. Players can also win other great prizes throughout the journey.

The Levi's® brand is not only awarding the Grayson Ozias IV challenge winner with $100,000, the participants of the challenge will be given the opportunity to nominate and vote for a U.S.-based non-profit organization to receive an additional $100,000 gift from the blue-jean-inventing icon. Sweeny adds, "This is the legacy of Levi Strauss who himself donated a robust portion of his first earnings to a local orphanage that the company still supports today. This began the company's tradition of sharing its prosperity with the community."

The hidden fortune is the third expedition from Levi's® Go Forth campaign, first launched July 1, 2009. The campaign will be supported heavily in digital social media (Facebook, Twitter), online via rich media and offline (ESPN The Magazine). The first two expeditions--the New Declaration and the New Americans--were an homage to today's America.