Investment Grade Bonds Return 9.2%, Junk Returns 29%; Has the "Hard Money" Been Made?

As long as the corporate bond market is healthy there is going to be a bid on equities. And in the first half of 2009, junk bonds have been running.

Please consider Corporate Bonds Show Lehman Doesn�t Matter With 9.2% Return.

Nowhere is the recovery in financial markets more evident than in corporate bonds, where Lehman Brothers Holdings Inc.�s bankruptcy is becoming a distant memory.

U.S. investment-grade company debt returned 9.2 percent in the first half of the year, outperforming Treasuries by 13.7 percentage points, the most on record, according to Merrill Lynch & Co. index data. Corporate bonds also did better than the Standard & Poor�s 500 Index of stocks, marking the first time since 2002 that the fixed-income securities outshined both Treasuries and equities.

Yields on investment-grade company securities fell to within 3.31 percentage points of Treasuries yesterday, the least since Sept. 10, according to Merrill�s U.S. Corporate Master Index. Spreads widened to a record 6.56 percentage points on Dec. 5, and the securities lost 6.8 percent in 2008, the worst year on record, as the shock to financial markets from Lehman�s collapse Sept. 15 froze credit markets and sparked a run on Treasuries that caused bill rates to fall below zero.

�Spreads on corporate debt were so out of whack coming into the year, implying default rates that indicated more than 20 percent of all speculative-grade companies would go bankrupt,� said Kevin Sherlock, co-head of loan and high-yield capital markets at Deutsche Bank in New York. �The risk appetite is far more aggressive now than it was three months ago. It�s about where we were last summer at pre-Lehman levels.�

The biggest returns came in the riskiest securities. High- yield, high-risk bonds gained 29 percent, or 34 percentage points more than Treasuries, Merrill Lynch indexes show.

While credit spreads are narrowing, defaults continue to rise. The U.S. speculative-grade default rate jumped to 8.1 percent in May, the highest since October 2002, and may reach 14.3 percent by the first quarter of 2010, according to S&P.

�The easy money has been made,� said Richard Lee, a managing director in the fixed-income trading department of closely held broker-dealer Wall Street Access in New York. �You could have bought any corporate credit in January and February and made out like a bandit.�

Other measures of credit also show improvement. The difference between what banks and the U.S. government pay to borrow for three months, the TED spread, has shrunk to 41 basis points, the lowest since July 2007 and down from 464 basis points in October. A basis point is 0.01 percentage point.

The Libor-OIS spread, an indicator for banks� willingness to lend, ended yesterday at 0.38 percentage point. That�s approaching the 0.25 percentage point that former Fed Chairman Alan Greenspan has said would indicate that markets were back to �normal.�

Has The Hard Money Been Made?

It is perfectly clear the easy money has been made. Junk bonds are up 29% for the year while the S&P 500 is up 3.2%.

The question now is "Has the Hard Money Been Made?"

While no one knows the answer to that question, we do know risk appetite is back at pre-Lehman levels even though speculative grade defaults are at 8.1 percent and climbing, the highest since October 2002.

Please note the differences. In October of 2002 the economy and jobs were about to improve dramatically along with consumer spending. Housing was robust and about to get white-hot.

This go around, there is not going to be a quick revival in jobs and the housing bottom is still not in. Even when housing bottoms, where is it going? I suggest nowhere in real terms for a decade. Moreover, consumer attitudes towards debt and saving are dramatically different now than in 2003.

Household Deleveraging

In Effect of Household Deleveraging on Housing, Consumption and the Stock Market I posted the following chart and commentary.

Going forward, it seems probable that many U.S. households will reduce their debt. If accomplished through increased saving, the deleveraging process could result in a substantial and prolonged slowdown in consumer spending relative to pre-recession growth rates. Alternatively, if accomplished through some form of default on existing debt, such as real estate short sales, foreclosures, or bankruptcy, deleveraging could involve significant costs for consumers, including tax liabilities on forgiven debt, legal fees, and lower credit scores. Moreover, this form of deleveraging would simply shift the problem onto banks that hold these loans as assets on their balance sheets. Either way, the process of household deleveraging will not be painless.

....

Think the US stock market is going to come roaring back if consumer deleveraging plays out as it must? Think again.

Expect another "Lost Decade" when it comes to housing and the stock market. It's the deflationary payback for the greatest credit binge in world history.

On June 26, the US Savings Rate Hits 6.9%, Highest In 15 Years. It was 4% when I posted the above chart on May 19, 2009.

Consumer attitudes towards spending have changed. So have banks' attitudes towards lending.

Moreover, the so-called stimulus plans and Bernanke's wizardry have bailed out banks (at taxpayer expense) but have done nothing for consumer debt levels or housing. Indeed Home Loan Delinquencies Double on Prime Loans; Foreclosure Filings Top 300,000 3rd Straight Month.

Expect a double dip recession because one is coming. A triple dip is certainly not out of the question. With that in mind, and with rising junk bond defaults, the stock market and corporate bonds are both priced for perfection.

Nonetheless, if junk bonds continue to run more "hard money" can be had. Feelin' Lucky?

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Squares and stripes

First of all...bear with me. This is my sister dancing with Donnie. (About 30 seconds in.)

Warning: Turn down the volume unless you are a fan. Lots and lots and LOTS of screaming:

http://www.youtube.com/watch?v=Z7Qth0Rp0Jo

Sniff. I'm so proud!! Oddly enough, she was only up there for 20 seconds or so. It felt like four minutes while we were there. This is a good thing, because it means I was only standing there frozen like a total dweeb for less than a minute. Good stuff.

OK, so let's move on. The long awaited squares and stripes post, which works well for this time of year (stars and stripes...get it??). It's really not rocket science, and yet again, there will collective "DUH." when you're done reading, but I like to share so I'm sharing. OK? OK.
First, the squares. The two items you must have for squares and stripes is a level (either the one below or a laser level that sends a beam of light straight down the wall) and blue painters tape. For this wall, I used two inch painters tape for the whole wall. I used the white wall as the background, but if you want a color, you'll need to paint it that color first.
Then, the measurements all depend on the size of squares that you want, or how many rows/columns you want. Say your wall is 127 inches -- and you want six columns of squares. You'll subtract two inches for each end of the wall, and each two inch space between each column -- basically each spot the painters tape will go.

Like this:

127 inch wall

six columns equals seven two inch sections (on each end of the wall and between each column)

7 sections x 2 inches (for painters tape)=14 inches

127 inches - 14 inches= 115 inches

Now divide 115 by six (for six columns)= each column would be 19.16 inches wide.

Do the same for the rows up and down as well. I know I made this seem complicated and it's really not that bad. It may take you a few tries to get the right measurements -- it did me. The rest is easy, it just takes time.

I hope that made sense! After you've figured out your measurements, you'll just need to measure off your wall. I use a yard stick, with the measurement marked, and I keep moving it down the wall, marking, say, 19.16 inches up and down the wall. Then take the level and use it to make straight lines on the wall vertically and horizontally.

Take your blue painters tape and run it along the lines. You can use the laser level and put the paint along the laser line, (this is how I do it) or you can put a light pencil line down the wall and then tape that off. To make sure no paint bleeds under the tape, I've heard many tricks, but all I do is take my thumbnail and run it down each side of the tape. You can also use a credit card or pan scraper. It works every time for me.

For stripes, my little trick is to use the yard stick again. In our son's room, I wanted the stripes in different widths -- two, seven, three and five inches. I did all the painting before the chair rail was put up, so the top of the stripes doesn't have to be perfect. Before I started, I marked the measurements and colors on my yard stick, and then used the painter's tape to hang the yard stick on the wall:

Using the marks on the yard stick, I used the level and painters tape to put the stripes down the wall. With stripes, you can't do all of them at once. My wall was cream, so that stripe was done. I had to paint three other colors, so I did the dark and medium green first, let it dry (I did NOT wait as long as they recommend and you don't need to) and did a quick second coat. Then I pulled off the tape and the next day did the third, lightest green by reapplying painters tape on each side of that stripe and painting:

Of course, the more colors, the longer it takes. It seems complicated and again, it's not. The great thing about varying stripes is you don't have to measure the wall like with squares. Just figure out what look you want and go. Once you get going, it will go surprisingly fast. Surprisingly. Swear. Pinky swear.

I taped off most of the stripes in my son's room within a couple hours, and the total paint time was probably a few hours.

I did stripes on one wall in our bedroom as well:

This was done by just painting the wall the base color, then taping off one foot columns and painting a shimmer glaze over the base. It's a really subtle look and I absolutely love it.

My biggest tip when using painters tape -- take the tape off when the paint is still damp if at all possible!! I've heard from professionals to keep it on till the paint is dry, but when I've done that, it makes a mess. The lines turn out awful, because the tape pulls up little pieces of the paint. When it's damp the tape comes right off, leaving a clean line.

If you have any other tips for a clean line or painting stripes/squares, please leave them in the comments! I know many of you have textured walls and I know it can be done, I've just never tried it. ;) I appreciate any other thoughts!!

It takes some patience, but the result is so custom and beautiful, you won't regret it!

P.S. I went to the best antiques shop in Indiana today and whoooeee, I have some eye candy for you later this week!! If you follow me on Twitter, you have already seen some of them. Fabulous!!!

Home Loan Delinquencies Double on Prime Loans; Foreclosure Filings Top 300,000 3rd Straight Month

The Office of the Comptroller of the Currency says Delinquencies Double on Least-Risky Loans.

Delinquency rates on the least-risky mortgages more than doubled in the first quarter from a year earlier as U.S. efforts to help homeowners failed to keep pace with job losses that pushed more borrowers toward foreclosure.

Prime mortgages 60 days or more past due climbed to 2.9 percent of such loans through March 31 from 1.1 percent at the same point in 2008, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said today in a report. First-time foreclosure filings on the loans rose 22 percent from the fourth quarter, the report said.

�I�m very concerned about the rise in delinquent mortgages and foreclosure actions,� Comptroller of the Currency John Dugan said in a statement with the report. President Barack Obama�s plan to create �sustainable, payment-reducing modifications is a positive step that should show significant benefits in the coming months,� Dugan said.

Obama�s program, unveiled Feb. 18, aims to help as many as 4 million homeowners by modifying loans and calls for Fannie Mae and Freddie Mac to refinance mortgages for as many as 5 million borrowers who owe more than their houses are worth. Foreclosure filings surpassed 300,000 for a third straight month in May, according to RealtyTrac Inc., and the U.S. economy has shed about 6 million jobs since the recession began in 2007.

Serious delinquencies on prime loans, which account for two-thirds of all U.S. mortgages, rose to 661,914 in the first quarter from 250,986 a year earlier, according to the report. Overall, mortgages 60 days or more past due rose 88 percent from last year, the report said.

�Serious delinquencies are a leading indicator of increased foreclosure actions in the future,� the report said.

The data shows 5.9 percent of the 21.8 million Fannie Mae and Freddie Mac loans serviced by national banks or thrifts were at least days 30 days late, in foreclosure or subject to bankruptcy, compared with 3.2 percent a year earlier.

The report covers the performance of 34 million loans totaling $6 trillion, the agencies said.

Mortgage Metrics Report for First Quarter 2009

Inquiring minds are digging into the OCC and OTS Release Mortgage Metrics Summary for First Quarter 2009.

The report, based on data from loan servicing companies that manage 64 percent of all first-lien U.S. mortgages, shows:

• The number of loan modifications significantly increased. During the quarter, servicers implemented 185,156 new loan modifications, up 55 percent from the previous quarter and 172 percent from the first quarter of 2008.


• The proportion of payment-reducing modifications also increased. More than half of the modifications in the first quarter of 2009 resulted in lower monthly principal and interest payments, as servicers focused on achieving more sustainable mortgage payments. Modifications that reduced monthly payments by 20 percent or more jumped 19 percent from the previous quarter, to 29 percent of all modifications. By contrast, actions that resulted in increased payments constituted only 19 percent of modifications, a drop of 25 percent from the previous quarter.


• Modifications that reduce payments have lower delinquency rates over time. Although delinquencies on modified loans increased each month following modification, delinquency rates were considerably lower for mortgages in which monthly payments were reduced. Six months after modification, only 24 percent of the mortgages that had monthly payments reduced by 20 percent or more were 60 or more days past due, compared with 54 percent of mortgages with monthly payments left unchanged, and 50 percent with higher monthly payments.


• Seriously delinquent mortgages increased. Seriously delinquent mortgages (60 or more days past due or involving delinquent bankrupt borrowers) increased as economic pressures continued to weigh on homeowners. Prime mortgages, which represented two-thirds of all mortgages in the portfolio, had the highest percentage increase in serious delinquencies, climbing by more than 20 percent from the prior quarter to 2.9 percent of all prime mortgages.


• Foreclosures in process increased. Foreclosures in process also increased during the quarter to 844,389, or about 2.5 percent of all serviced loans, as moratoriums on foreclosures expired during the first quarter. This increase represented a 22 percent jump from the previous quarter and a 73 percent rise from the first quarter of 2008.

Data also showed a continuing emphasis on preventing avoidable foreclosures to keep families in homes and mitigate losses, as servicers continued to implement more home retention actions (loan modifications and payment plans) than home forfeiture actions (foreclosures, short sales, and deed-in-lieu-of-foreclosure actions). Prime borrowers received about twice as many home retention actions as home forfeiture actions, while subprime borrowers received more than seven times as many.

The report covers the performance of 34 million loans totaling more than $6 trillion in principal balances from the beginning of 2008 through the end of the first quarter of 2009. The impact of the increase in modifications, particularly those with reduced monthly payments, will be seen only in future data.

OCC and OTS Mortgage Metrics Report

Inquiring minds are also digging into the 42 page OCC and OTS Mortgage Metrics Report

Click On Any Chart For Sharper Image

Home Retention Actions: Loan Modifications and Payment Plans

Increased emphasis on loan modifications drove an overall increase in home retention actions, as shown in the table below. Newly initiated loan modifications reached 185,156 during the quarter� rising by 55.3 percent from the previous quarter and 172.3 percent from the first quarter of 2008. The impact of this increase in modifications on reducing foreclosures and enabling borrowers to remain current on their loans will only be seen in future data. Likewise, modification data through the first quarter do not reflect the impact of the Administration�s �Making Home Affordable� program, which was announced in March and began to be implemented after this reporting period.



Modifications during the first quarter of 2009 resulted in lower monthly principal and interest payments on 54.1 percent of all modified loans, as servicers focused on achieving more sustainable mortgage payments. The percentage of modifications that reduced payments by 20 percent or more increased to 29.3 percent of all modifications made in the first quarter of 2009, up 19.2 percent from the previous quarter. Modifications that increased monthly payments declined to 18.5 percent of all modifications during the quarter, down from 25 percent in the fourth quarter and 33.5 percent in the third quarter. Actions that left payments unchanged increased slightly to 27.3 percent.

New to this report are data on the types of actions taken to modify loans. Nearly two-thirds of modifications were �combination modifications� that involved two or more changes to the terms of the loan. Capitalization of delinquent interest, fees, and advances, combined with interest rate reductions and extended maturities were the predominant combination of modifications made during the first quarter. Interest rate and payment freezes, principal reductions, and principal deferrals were less prevalent. Of the 185,156 mortgages that were modified in the first quarter of 2009, 70.2 percent included a capitalization of missed payments and fees, 63.2 percent reduced the interest rate, and 25.1 included an extended term. By comparison, 12.6 percent of the mortgages received modifications that froze the interest rate, 1.8 percent included a reduction of principal, and 1.1 percent included a deferral of principal.

Status of Loans Modifications as of March 31, 2009



Re-Default Rate for 2008 Modifications



Re-Default Rates for Portfolio Loans and Loans Serviced for Others



Overall Mortgage Portfolio



Portfolio Composition
(Percent of All Mortgage Loans in the Portfolio) First Quarter 2009

Damning Report

This is a damning report on the success (or lack thereof) of the mortgage foreclosure workout programs to date. Redefault rates are near 50% after Fannie/Freddie loan modifications. Of course Fannie and Freddie can grant bigger loan mods (and probably will), but taxpayers will have to eat the cost.

Private loan mods are redefaulting at a stunning 58.1% rate 12 months after modification. Can those people redeafulting can afford ANY payment? Even if they can, the incentives to walk away are enormous.

Certainly those out of a job are unlikely to be able to afford any payment, and the unemployment rate is soaring.

Prime Loan Math in Dollars

Moreover note that 67% of loans are "Prime Loans". Prime mortgages 60 days or more past due climbed to 2.9 percent of such loans through March 31 from 1.1 percent at the same point in 2008 according to the report.

Total Servicing is $6 Trillion. $4 Trillion of that is "prime". 2.9% of that is 60 days late or worse. 2.9% of $4 Trillion is $116 billion. And that ignores the problem in Alt-A and Pay Option ARMs.

Prime Loan Math in Units

There are 22.8 million prime loans. 2.9% of that is 661,200. That's a lot of potential housing supply.

Jobs Are The Key

Unless the job market quickly improves, expect those numbers to soar. Here's a hint: the job market is unlikely to significantly recover for years.

This was a very damning report on the state of housing.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Corn Futures Down Lock Limit, Soybeans and Wheat Drop On Crop Reports

As U.S. Farmers Boost Acreage, Corn, Soybeans, Wheat Plummet.

Corn plunged by the Chicago Board of Trade�s limit after a government report showed U.S. farmers planted more acreage with the grain than estimated in March. Wheat and soybeans also tumbled on signs of increasing supplies.

Corn futures for December delivery dropped by the maximum of 30 cents, or 7.6 percent, to $3.6725 a bushel at 11:02 a.m. on the CBOT. The price headed for the fourth straight quarterly slide.

The U.S. corn report showed �an awfully big acreage number and suggests inventories will be more comfortable,� said Tim Emslie, a research manager at Country Hedging Inc. in Inner Grove Heights, Minnesota.

The U.S. is the world�s largest exporter of corn, soybeans and wheat. Corn is the nation�s biggest crop, valued at $47.4 billion in 2008, followed by soybeans, hay and wheat, government figures show.

Soybean futures for November delivery fell 22 cents, or 2.2 percent, to $9.615 a bushel. Earlier, the price touched $9.435, the lowest since April 1.

U.S. farmers will sow a record 77.483 million acres with the oilseed, up 2.3 percent from 75.718 million last year, the USDA said. In March, the agency said farmers intended to plant 76.024 million acres.

Wheat futures for July delivery tumbled 18.25 cents, or 3.5 percent, to $5.0975 a bushel. The price earlier touched $4.9575, the lowest since Dec. 12.

About 13.77 million acres were seeded with spring wheat, the USDA said. That topped the 13 million projected by analysts surveyed by Bloomberg News last week. Total inventories on June 1 were 667 million bushels, doubling from a year earlier.

Cattle and hog futures rallied today as the crop reports signaled lower costs for livestock feed.

�This is a great day for the cattle and hog producer and the dairyman,� Basse said. �Corn, soybeans and wheat all made their seasonal highs earlier this month. Given favorable weather for the remainder of the growing season, we should have a breathable cushion of inventories.�

Corn Futures Daily Chart



Corn Futures Monthly Chart



Wheat Futures Daily Chart



Wheat Futures Monthly Chart



Soybean Futures Daily Chart



Soybean Futures Monthly Chart



Charts are from Barchart Futures.

As compared to a year ago, prices are down across the board, even on soybeans. Corn prices are down by 50%.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

UK First Quarter GDP Drops 2.4%, Most Since 1958; US GDP Fell 5.5%

Expect to see more headlines like this, worldwide: U.K. First-Quarter GDP Drops 2.4%, Most Since 1958.

The U.K. economy shrank more than previously estimated in the first quarter in the biggest contraction since 1958 as the recession choked industries from construction to services.

Gross domestic product fell 2.4 percent from the final three months of 2008, compared with the prior measurement of a 1.9 percent drop, the Office for National Statistics said today in London. The median prediction in a Bloomberg survey of 28 economists was for a 2.1 percent decline. Construction activity plunged almost three times as much as originally estimated.

Bank of England Governor Mervyn King said last week that Britain�s recovery from recession may turn out to be �a long, hard slog.�

The U.K.�s GDP will probably fall 4.3 percent this year, the Organization for Economic Cooperation and Development said in a June 24 report. That compares with a 4.8 percent drop in the euro area and a 2.8 percent decline in the U.S.

The Bank of England is pumping newly created money into the financial system and keeping its benchmark interest rate at a record low of 0.5 percent to fight the recession.

Still, King said June 24 that problems in the banking system mean the recovery is �uncertain� and policy maker Kate Barker said the same day that Britain�s housing market was �still some way away from normal.

US First Quarter GDP Dropped At 5.5%

Last week the BEA announced the US Gross Domestic Product, for the 1st Quarter 2009.

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 5.5 percent in the first quarter of 2009,(that is, from the fourth quarter to the first quarter), according to final estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP decreased 6.3 percent.

The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, equipment and software, private inventory investment, nonresidential structures, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased.

The smaller decrease in real GDP in the first quarter than in the fourth primarily reflected an upturn in PCE and a larger decrease in imports that were partly offset by larger decreases in private inventory investment and in nonresidential structures.

The 2.8% GDP contraction estimate for the US looks a little optimistic but there are so many give-away programs and government spending that perhaps they the NBER will be declaring the end of this recession later this year. If so it will be nothing to get excited over.

A double dip will be coming in 2010 or 2011 once the stimulus wears off. Consumers are not about to go on a sustained spending spree anytime soon and consumer spending is 70% of the economy.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Today's archidose #329

PS1 Young Architects Program, 2009, originally uploaded by downtownBLUE.

Afterparty, this year's P.S.1 Young Architects Program by MOS, 2009. The installation opened Sunday and runs until September 28. Also on display at the museum is YAP 10th Anniversary Review, "a visual chronicle of P.S.1 Contemporary Art Center and The Museum of Modern Art's Young Architects Program, one of the most acclaimed architectural arenas for emerging talent of the last decade."

Previously.

To contribute your Flickr images for consideration, just:

:: Join and add photos to the archidose pool, and/or
:: Tag your photos archidose

Social Media Analytics Part I

What is Social Media?

There are so many ways people define social media and some even argue that it is not really media. According to Wikipedia, Social media is content created by people using highly accessible and scalable publishing technologies. Simply put, social media refers to all the conversation and engagement that happen on networks and sites like facbook, myspace, twitter, blogspehere, youtube, flicke, messageboard, forums etc..

Since these conversations can have a big impact on your brand it becomes critical for a marketer to understand what people are talking about their brand/products etc. so that they can take appropriate actions and help in creating and fostering a positive chatter (conversation) about their brand. Social Media analytics is about measuring and analyzing Social media (content generated by people throughout the web).

Broadly, Social media measurements comes in two flavors

1. Measuring the conversation about your brand in social media


2. Measuring the impact your own social media efforts (e.g. the facebook widget that you spent tons of money on or links that you posted on twitter etc.)

In this post I will talk about the first point, "Measuring what conversation are happening about your brand". I will have second post to discuss about second post.

Challenge with Social Media Measurement

Social Media measurement is very different from measuring your own web site (this is what most of the web analytics tool measure). You own your own website. You can (should) measure interaction of your visitors with your website. Social Media happens with our without your active participation. It mostly happens outside the realms of your website such as conversation on twitter, blogs, forums, facebook etc. Since you don�t have any web analytics tool installed on these places it is hard to find out what�s happening. Even if you had a web analytics tool installed you won�t know what people are talking about. Which is what you would like to know? This sort of information is not available from traditional web analytics tools like Omniture Site Catalysts, WebTrends or Google Analytics.

Social Media Analytics Tools

There are new breed of tools that help you monitor the social buzz. These tools let you �listen� into the conversation about your brand
In these tools you specify a set of keywords that define your brand or are associated with your brand and then the tools do the rest. They crawl the social media networks/sites and find all the mentions of the specified keywords and bring them back to you in nicely formatted reports.
The setup in most of these tools is a very manual process. Once the data is back you will needs a human to go through and analyze the data (not any different from your web analytics tool).

What kind of information do these tools provide?

Most of these tools bring some flavor of the following information (and much more)

• Brand Mentions - Conversation about your brand/competitor/industry (as specified by keywords). You get total mentions by day/week/month and also the ability to drill down to a specific conversations.


• Brand Sentiment � What is the consumer sentiment towards your brand? Are they positive, negative, neutral on your brand?


• Influencers - Who is talking about you? How influential are they and how many times have they talked about your brand.

Some of the Social Media Analytics Tools

• Radian6


• WebTrends - Powered by Radian6


• Techrigy - SM2


• Omniture - Integration with Twitter


• Visible Technologies


• Nielsen BuzzMetrics


• Biz360 Community Insights


• Dow Jones Insights


• Sentiment Metrics


• JD Power Web Intelligence

Below are the screen shots from Radian6 and SM2. Representatives from both these companies were very helpful in responding to my tweet and providing me the screenshot of their tools (see below).


Radian6


SM2


In part II I will talk about how you can measure the impact your own social media efforts (e.g. the facebook widget that you spent tons of money on or links that you posted on twitter etc.).

I might also write reviews of some of the tools mentioned above, if you are a vendor of social media analytics tool and would like me to do a review please contact me.

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Chicken Farmers Have Hearts Plucked Out

Last December, Pilgrim's Pride Went Bankrupt. The repercussions on chicken farmers are still being felt.

Please consider At Chicken Plant, a Recession Battle.

DOUGLAS, Ga. -- This small town was devastated in February when its largest employer, Pilgrim's Pride Corp., said it would close a chicken-processing plant as part of the company's bankruptcy filing.

Since then, city and county officials have been working to find a buyer who could save the plant's nearly 1,000 jobs and $300,000 in annual county tax revenues. But there's a problem: Pilgrim's Pride isn't eager to sell.

Pilgrim's has so far rejected a $32 million bid for the plant from Amick Farms LLC of Batesburg, S.C., company and city officials say. Another chicken company took a look and decided Pilgrim's asking price was too high, say people familiar with the matter. City officials say the company kept a prospective bidder from touring the plant, making it a challenge to market.

Pilgrim's says it hasn't been offered a fair price for the plant and is cautious about letting rivals see its manufacturing processes. In an email to the city of Douglas, Pilgrim's President and Chief Executive Don Jackson said, "With declining demand for chicken in this terrible economy we need to remove chicken from the market. This would not be accomplished with a sale." While he said he recognized the "devastating impact" a closing would have on Douglas, "the actions do strengthen the company and help protect the jobs" of the company's 40,000 U.S. employees and farmers.

Many businesses in the U.S. are struggling with excess capacity. From autos to airlines to houses, "there's a landscape of industries and sectors that are recognizing that they're going to need to scale down," says Nancy L. Rose, an economist at the Massachusetts Institute of Technology Department of Economics in Cambridge.

With no plant to process the birds they raise, local chicken farmers have no income to pay off debts. Months ago, the hundreds of cavernous, metal-and-wood chicken houses in the county were worth at least $200,000 each when filled with chickens, farmers say. Now, except for flies and old feathers, the structures sit empty and are virtually worthless.

Mr. Jackson, Pilgrim's CEO, appears to have struggled over the decision to shut the plant. In a March 11 email to Ms. Lewis, the Economic Development Authority official, he said: "I do not mean to 'pluck the heart' out of Douglas or any other community. All of my 58 years have been spent in agriculture. Thirty of it in the chicken business. I grew up on a farm and my father spent his entire life farming. Not some 'rich' farmer but one just like your neighbors in Coffee County. He would be sick over this situation." Mr. Jackson declined to be interviewed.

Pilgrim's began dismantling chicken operations in the area, slaughtering hens and selling off eggs. The steps were necessary because "you can't close a plant and have tens of thousands of live chickens there with no place to go," Pilgrim's bankruptcy attorney, Stephen A. Youngman, said in court transcripts.

Douglas residents still hope the plant will reopen. One recent afternoon, after a corporate jet landed at the local airport, rumors flew that a buyer might have arrived. It turned out the plane was carrying executives from Little Debbie, a maker of cookies and cakes, doing business in the region.

Oh' The Humanity!

I am not sure quite why but the above story reminds me of a scene from the Cincinnati WKRP Turkey Drop Episode.

"As God is my witness, I thought turkeys could fly!!!" -- Arthur Carlson, WKRP in Cincinnati.

The above quote is from the famous WKRP in Cincinnati episode where Station Manager, Arthur Carlson (played by Gordon Jump), arranged to have live turkeys dropped from a helicopter as an advertising stunt.

Unfortunately, this turned out to be a serious miscalculation. The poor birds plunged to earth, never even having a chance. Their tragic "last flight" was relayed to WKRP listeners by reporter Les Nessman, played by Richard Sanders:

"It's a helicopter, and it's coming this way. It's flying something behind it, I can't quite make it out, it's a large banner and it says, uh - Happy... Thaaaaanksss... giving! ... From ... W ... K ... R... P!! No parachutes yet. Can't be skydivers... I can't tell just yet what they are, but - Oh my God, Johnny, they're turkeys!! Johnny, can you get this? Oh, they're plunging to the earth right in front of our eyes! One just went through the windshield of a parked car!

Oh, the humanity! The turkeys are hitting the ground like sacks of wet cement! Not since the Hindenburg tragedy has there been anything like this!"

Tomorrow a report on lobsters.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

SANDISK UNVEILS WORLD�S FASTEST 32GB SDHC CARD

30MB/s Read & Write Speeds and 32GB Storage Capacity Help Photography and Video Enthusiasts Do More With Their DSLRs

PMA, Sydney, June 25, 2009 � SanDisk Corporation (NASDAQ:SNDK), the global leader in flash memory cards, today introduced the fastest 32-gigabyte (GB)1 SDHC� card on the market.The 32GB SanDisk Extreme� SDHC� card at up to 30 megabytes per second (MB/s)2 read and write speeds combines industry-leading performance with massive storage capacity, helping digital photography enthusiasts utilize the advanced features of today�s DSLR cameras.

�The market for entry to mid-level DSLR cameras is growing, and SDHC is becoming the de-facto card format for these devices,� said Susan Park, director, retail product marketing, SanDisk.�Our card�s 32GB of storage and up to 30MB/s read & write speeds enable DSLR users to shoot without worrying about storage or speed limitations. SanDisk Extreme SDHC cards provide consumers with a more enjoyable user experience, letting them focus on what is really important � the images that they are capturing.�

Lightning-Fast Write Speed Captures Images Quickly
A memory card�s write speed plays a crucial role in the overall system of the camera when taking pictures in rapid succession. If a card cannot process data quickly enough then the burst mode shooting may pause unexpectedly as the card catches up to the camera. Burst mode bottlenecks can lead to missing �the� shot, especially at sporting or other fast-motion events. The SanDisk Extreme SDHC card offers maximum data-transfer rates, giving consumers a memory card fast enough to unlock the full capabilities of their DSLRs.

The 32GB SanDisk Extreme SDHC card adheres to the SD Association�s new Class 10 specification, which exceeds requirement for today�s high definition (AVCHD) video recording. The card offers a sustained write speed fast enough to ensure high-definition video recording and capacity capable of storing 160 minutes of full HD 1920x1080 pixels at 24Mb/s data transfer rate.

Big Files Require Big Storage
Recently-released DSLR camera models like the Nikon D90 and D5000 offer consumers the ability to record HD videos, producing large files that can fill lesser-capacity cards quickly. Today�s high-megapixel DSLRs also can generate massive still images like those produced in the RAW format used by professional photographers who want to take advantage of the enhanced picture quality and flexibility that RAW allows during post production.

RAW images demand up to ten times as much storage space as regular JPEG images, and when taken in rapid succession during burst mode can quickly fill smaller storage cards. The 32GB SanDisk Extreme SDHC card can store up to 2500 RAW3 images, providing photographers with piece of mind and confidence that they will not run out of space for their images.

Renowned for their world-class durability, SanDisk Extreme SDHC cards guarantee operation at extended temperatures ranging from minus 13 F (minus 25 C) to 185 F (85 C). SanDisk Extreme SDHC cards are fully compatible with any camera, card reader or other device that supports SDHC cards.

When placed in SanDisk�s new ImageMate� Multi-Card USB 2.0 reader/writer, the SanDisk Extreme SDHC card transfers images and video to a computer at rates of up to 30MB/s. The card�s fast data transfer rates enable photographers operating under tight deadlines to maximize critical workflow and enter post production as quickly as possible.

Class 10 Performance Sets a New Standard
An SD� card�s speed Class is based on its minimum data-transfer rate, and is used to ensure high-quality video recording standards. The SD Association added Class 10 as part of the SD 3.0 specification released earlier this year. The SanDisk Extreme SDHC card�s performance exceeds the requirements of even the highest-quality AVCHD video recording device, and is currently the fastest Class 10 card in the world.

Availability:
The SanDisk Extreme SDHC 32GB cards will be shipping worldwide to major retailers in August. Also in August, the current 4, 8 and16GB capacity SanDisk Extreme SDHC cards will be upgraded from Class 6 to Class 104.

About SanDisk
SanDisk Corporation is the global leader in flash memory cards � from research, manufacturing and product design to consumer branding and retail distribution. SanDisk�s product portfolio includes flash memory cards for mobile phones, digital cameras and camcorders; digital audio/video players; USB flash drives for consumers and the enterprise; embedded memory for mobile devices; and solid state drives for computers. SanDisk (www.sandisk.com/corporate) is a Silicon Valley-based S&P 500 company with more than half its sales outside of the United States.

SANDISK UNVEILS WORLD�S FASTEST 32GB SDHC CARD

30MB/s Read & Write Speeds and 32GB Storage Capacity Help Photography and Video Enthusiasts Do More With Their DSLRs

PMA, Sydney, June 25, 2009 � SanDisk Corporation (NASDAQ:SNDK), the global leader in flash memory cards, today introduced the fastest 32-gigabyte (GB)1 SDHC� card on the market.The 32GB SanDisk Extreme� SDHC� card at up to 30 megabytes per second (MB/s)2 read and write speeds combines industry-leading performance with massive storage capacity, helping digital photography enthusiasts utilize the advanced features of today�s DSLR cameras.

�The market for entry to mid-level DSLR cameras is growing, and SDHC is becoming the de-facto card format for these devices,� said Susan Park, director, retail product marketing, SanDisk.�Our card�s 32GB of storage and up to 30MB/s read & write speeds enable DSLR users to shoot without worrying about storage or speed limitations. SanDisk Extreme SDHC cards provide consumers with a more enjoyable user experience, letting them focus on what is really important � the images that they are capturing.�

Lightning-Fast Write Speed Captures Images Quickly
A memory card�s write speed plays a crucial role in the overall system of the camera when taking pictures in rapid succession. If a card cannot process data quickly enough then the burst mode shooting may pause unexpectedly as the card catches up to the camera. Burst mode bottlenecks can lead to missing �the� shot, especially at sporting or other fast-motion events. The SanDisk Extreme SDHC card offers maximum data-transfer rates, giving consumers a memory card fast enough to unlock the full capabilities of their DSLRs.

The 32GB SanDisk Extreme SDHC card adheres to the SD Association�s new Class 10 specification, which exceeds requirement for today�s high definition (AVCHD) video recording. The card offers a sustained write speed fast enough to ensure high-definition video recording and capacity capable of storing 160 minutes of full HD 1920x1080 pixels at 24Mb/s data transfer rate.

Big Files Require Big Storage
Recently-released DSLR camera models like the Nikon D90 and D5000 offer consumers the ability to record HD videos, producing large files that can fill lesser-capacity cards quickly. Today�s high-megapixel DSLRs also can generate massive still images like those produced in the RAW format used by professional photographers who want to take advantage of the enhanced picture quality and flexibility that RAW allows during post production.

RAW images demand up to ten times as much storage space as regular JPEG images, and when taken in rapid succession during burst mode can quickly fill smaller storage cards. The 32GB SanDisk Extreme SDHC card can store up to 2500 RAW3 images, providing photographers with piece of mind and confidence that they will not run out of space for their images.

Renowned for their world-class durability, SanDisk Extreme SDHC cards guarantee operation at extended temperatures ranging from minus 13 F (minus 25 C) to 185 F (85 C). SanDisk Extreme SDHC cards are fully compatible with any camera, card reader or other device that supports SDHC cards.

When placed in SanDisk�s new ImageMate� Multi-Card USB 2.0 reader/writer, the SanDisk Extreme SDHC card transfers images and video to a computer at rates of up to 30MB/s. The card�s fast data transfer rates enable photographers operating under tight deadlines to maximize critical workflow and enter post production as quickly as possible.

Class 10 Performance Sets a New Standard
An SD� card�s speed Class is based on its minimum data-transfer rate, and is used to ensure high-quality video recording standards. The SD Association added Class 10 as part of the SD 3.0 specification released earlier this year. The SanDisk Extreme SDHC card�s performance exceeds the requirements of even the highest-quality AVCHD video recording device, and is currently the fastest Class 10 card in the world.

Availability:
The SanDisk Extreme SDHC 32GB cards will be shipping worldwide to major retailers in August. Also in August, the current 4, 8 and16GB capacity SanDisk Extreme SDHC cards will be upgraded from Class 6 to Class 104.

About SanDisk
SanDisk Corporation is the global leader in flash memory cards � from research, manufacturing and product design to consumer branding and retail distribution. SanDisk�s product portfolio includes flash memory cards for mobile phones, digital cameras and camcorders; digital audio/video players; USB flash drives for consumers and the enterprise; embedded memory for mobile devices; and solid state drives for computers. SanDisk (www.sandisk.com/corporate) is a Silicon Valley-based S&P 500 company with more than half its sales outside of the United States.

Pentax K-7 Review

The Pentax K-7 is one of the more exciting new DSLR cameras of 2009, signalling Pentax�s entry into the super-competitive semi-pro category. Going up against the likes of the Canon EOS 50D and Nikon D300, the 14.6 megapixel K7 certainly has a lot to offer on paper, surpassing its main rivals in many ways. The Pentax K-7 joins the growing list of DSLR cameras that can record video, with a best quality setting of 1536x1024 pixels at 30fps. In-camera High Dynamic Range is another up-to-the-minute feature, combining three differently exposed images on-the-fly to create a single photo with expanded dynamic range. Autofocus, traditionally one of the weaker points of Pentax SLRs, has been significantly upgraded to a new 11-point wide-frame AF module with 9 cross sensors and 2 line sensors. The dust-, weather- and freeze-proof Pentax K-7 has 77 weather / dustproof seals, a stainless-steel alloy chassis, a shutter designed for 100,000 releases, a top shutter speed of 1/8000th second, a through-the-lens optical viewfinder with 100% frame coverage and 0.92x magnification, and a new 77-segment matrix meter. With barely a pause for breath, the K7 boasts a high-resolution 3-inch LCD monitor with 920k dots, built-in dust removal and shake-reduction systems, continuous shooting rate of 5.2fps, improved Live View with Face Recognition AF, and automatic compensation of lens distortion and lateral chromatic aberrations with DA and DFA lenses. In the UK the Pentax K-7 costs �1199.99 body only, �1229.99 with the 18-55mm kit lens, and �1329.99 with the 18-55mm + 50-200mm double kit lens. In the US, the K-7 body only costs $1299.95 and the new lenses are priced at $199.95 for the 18-55mm and $249.95 for the 50-200mm.

Mark Goldstein

Read more : photographyblog

Pentax K-7 Review

The Pentax K-7 is one of the more exciting new DSLR cameras of 2009, signalling Pentax�s entry into the super-competitive semi-pro category. Going up against the likes of the Canon EOS 50D and Nikon D300, the 14.6 megapixel K7 certainly has a lot to offer on paper, surpassing its main rivals in many ways. The Pentax K-7 joins the growing list of DSLR cameras that can record video, with a best quality setting of 1536x1024 pixels at 30fps. In-camera High Dynamic Range is another up-to-the-minute feature, combining three differently exposed images on-the-fly to create a single photo with expanded dynamic range. Autofocus, traditionally one of the weaker points of Pentax SLRs, has been significantly upgraded to a new 11-point wide-frame AF module with 9 cross sensors and 2 line sensors. The dust-, weather- and freeze-proof Pentax K-7 has 77 weather / dustproof seals, a stainless-steel alloy chassis, a shutter designed for 100,000 releases, a top shutter speed of 1/8000th second, a through-the-lens optical viewfinder with 100% frame coverage and 0.92x magnification, and a new 77-segment matrix meter. With barely a pause for breath, the K7 boasts a high-resolution 3-inch LCD monitor with 920k dots, built-in dust removal and shake-reduction systems, continuous shooting rate of 5.2fps, improved Live View with Face Recognition AF, and automatic compensation of lens distortion and lateral chromatic aberrations with DA and DFA lenses. In the UK the Pentax K-7 costs �1199.99 body only, �1229.99 with the 18-55mm kit lens, and �1329.99 with the 18-55mm + 50-200mm double kit lens. In the US, the K-7 body only costs $1299.95 and the new lenses are priced at $199.95 for the 18-55mm and $249.95 for the 50-200mm.

Mark Goldstein

Read more : photographyblog

Long Term Budget Projections at Unprecedented and Intolerable Levels

The Committee for a Responsible Federal Budget has an interesting report on the Long Term Budget Outlook as reported by the Congressional Budget Office. Let's take a look.

Last week, the Congressional Budget Office (CBO) released its Long-Term Budget Outlook. The reports suggests a brief window in which deficits subside a bit, after which the effects of health care cost growth and population aging will drive them rapidly upward and bring the national debt to unprecedented and intolerable levels.

Under current law, CBO projects debt held by the public will rise from less than 40 percent of GDP before the economic crisis to nearly 100 percent by 2040 and 300 percent by 2083. If current policies are continued, CBO projects the debt will rise to 100 percent by the early 2020s, to 200 percent before 2040, and eventually to 750 percent.

Ultimately, revenue increases and/or spending cuts will be necessary to prevent �a vicious cycle in which the government had to issue ever-larger amounts of debt in order to pay ever-higher interest charges.�

Ever-Growing Deficits

If we continue on our current path, according to the CBO, deficits will persist and grow, driving public debt to untenable levels. The CBO makes two sets of long-term projections: the �extended baseline scenario,� which essentially assumes current law, and the �alternative fiscal scenario,� which assumes policy makers continue a number of current practices such as maintaining physicians payments in Medicare, continuing to patch the Alternative Minimum Tax, renewing the 2001/2003 tax cuts, and allowing discretionary spending to grow with GDP rather than inflation over the next decade.



Rising deficits are caused by spending growing considerably faster than revenue. Projected spending increases come mainly from the growth of Medicare and Medicaid, and to a lesser extent Social Security.

Although a relatively small portion of our budget today at 1 percent of GDP, interest on the debt would grow to consume 12 percent of GDP by 2080 under CBO�s baseline scenario or 30 percent under its alternative scenario. Of course, even the baseline scenario displayed below would be unlikely to occur, since investors and lenders would not allow the United States to accumulate such high levels of debt. But this projection represents the magnitude of the gap that must be closed.



Ultimately, the long-term budget outlook will necessitate serious tax and spending changes. Absent such changes, we face the real threat of a fiscal and economic crisis more severe than what we've already endured.

There are more interesting charts in the article including one on Factors Impacting Growth of Medicare, Medicaid, and Social Security.

To say that the present course is unsustainable is putting it mildly. Spending cuts are mandatory. However, neither the Obama administration nor Congress has gotten the message. Nor has the Free Lunch Society of which Paul Krugman is the high priest.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Complacency as Measured by VIX Returns to Wall Street

Bloomberg is reporting VIX Drops to Lowest Level Since Lehman�s Collapse as Fear Ebbs.

The benchmark index for U.S. stock options fell below its closing level from the day before Lehman Brothers Holdings Inc.�s September collapse as stocks rallied and investors paid less to hedge against equity losses.

The VIX, as the Chicago Board Options Exchange Volatility Index is known, lost 1.1 percent to 25.65 at 11:54 a.m. in New York. The index measures the cost of using options as insurance against declines in the Standard & Poor�s 500 Index, which added 0.9 percent.

�Fear of the doomsday scenario has definitely subsided,� Jeremy Wien, a VIX options trader at Societe Generale SA in New York, said before the index slipped below its Sept. 12 close of 25.66.

Before today, the VIX averaged 20.18 in its history stretching back to the start of 1990. The index peaked at 80.86 in November and dipped below 30 in May for the first time in eight months. It reached an intraday record of 89.53 on Oct. 24.

The volatility benchmark, known as Wall Street�s �fear gauge� because it almost always increases as stocks fall, reflects expectations for price swings for the next 30 days and is calculated from S&P 500 options that are one or two months from expiration.

Federal Reserve Chairman Ben S. Bernanke has made unprecedented use of the central bank�s powers as the lender of last resort. He kept banks liquid by accepting bonds they can�t trade as collateral for Treasuries and bailed out the nation�s biggest insurer, American International Group Inc.

The S&P 500�s swings were the biggest in the benchmark�s 80-year history last year as it plunged 38 percent, the most since 1937. There were 18 moves of more than 5 percent after Sept. 29. That was more than half of the 35 swings of that size that have occurred from 1955 through 2008, according Howard Silverblatt, the senior index analyst at S&P in New York.

Giving Bernanke or the Fed any credit for this is preposterous. The Fed helped create this mess. For a complete trashing of Bernanke please see Bernanke is a Total Failure Unsuited for Role as Fed Chairman.

Moreover, we have still not felt the repercussions of the Fed's actions nor does the Fed have an exit strategy for what it has done. Premature celebration for the Fed's policies is certainly unwarranted. The payback period may last a decade or more.

$VIX Daily



click on chart for sharper image

Looking forward, consumer spending attitudes have changed for good (and consumer spending is 70% of the economy), there is virtually no chance for a V shaped recovery, housing is going to remain in the doldrums (at best) , lending standards have tightened dramatically, the jobs picture is going to be bleak for a long time, bank leverage will not come back to the same extent for decades, if ever, and Peak Earnings are in.

In light of the above, the stock market is priced for perfection.

New lows might be coming whether there is another outright panic or not as measured by the VIX. Indeed that is what happened in March, with the S&P 500 making a new low although the VIX was nowhere near the October and November 2008 spikes.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

It. was. awesome.

Oh my goodness people. I cannot even tell you how. much. fun. we had last night. I'm not even kidding. It was the time of my life!!! First, some pictures, and then you'll just die at the story at the end!!!!

Our seats were AWESOME, thanks to a former coworker of my sister/second cousin of my best friend (long story). We were right behind the sound stage. Thank God I'm 11 feet tall:

I kept standing on the railing around the sound stage, making me about twelve feet tall. The security guys were giving me the stink eye and a stern "GET. DOWN." look quite often. Whateva dudes. I waited 18 years for this:

Jared the Subway guy knew someone in the band and sat right in front of us. My goober adorable best friend and sister got pictures with him:

We went ALL OUT and got a limo -- here's a few shots. Me and my sis:

My hawty hawt shoes:

(Yes. I have blisters.)

My and my BFF. We've been best friends for about 23 years. Five NK's concerts together, and I wouldn't want to go with anyone else:

And a self portrait with the massive crowd behind us!!

So GET THIS. Before the show, my BF is Twittering Donnie (to my fellow twitterers (?) I'm sorry for the goofy posts last night!) and just to be funny, I twitter him our section, row and seats and tell him to come out to see us (we heard earlier that they come out in the crowd.)

Later in the show, the lights go down and all the sudden the guys are all spread out in the crowd. Donnie is immediately to our right, about five feet away. My sis and BF are over there in two seconds. I turn around and Joe is to my left, about five feet away as well. The seas parted and crazed girls grown women went screaming to each side of me. I stood like a goofball right smack in the middle, by myself, freaking out -- which way to go???

I was frozen. I couldn't decide. (Ladies, they were both smokin' hot. Smokin'.) I look over to the right at Donnie and there's this cute chick dancing with him, and I'm like, oh, she's cute! Oh, I hate her. Oh, she's cute though. But oh wait, look, there's Joe! Right there. Geez, that girl is still dancing with Donnie! I still don't know which way to go. Frozen.

I look over again...it hits me....

MY SISTER IS DANCING WITH DONNIE WAHLBERG. Wait. What? MY SISTER IS DANCING WITH DONNIE WAHLBERG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

It was the most surreal experience of my life. I run over there, get on a chair and am about three feet from Donnie, eye level....

And I don't have a camera. Nothing. My phone had long died, I didn't bring in my camera, I had no idea where the other cameras were. I could have gotten the most amazing pictures of Joe and Donnie if I had one. I am hating myself right now!!

I don't even know if they get twitters from fans, but we thought it was so odd that he ended up right next to us. :) It was fantastic. My best friend has been a Donnie fan for 20 years and held his hand. We felt like we were 15 again, only better. :) It was the best concert I've ever been to, hands down. There are only about ten more concerts -- if you are not sure about going -- you MUST. You won't regret it. They know how to entertain!!

Thanks for letting me gush!! I feel like you are all my friends, so I had to share the night with you! And a big thanks to those of you who could care less about former teeny boppers for putting up with me lately. I swear, no more about it -- back to painting, crafting, decorating....I promise. :)

Hasselblad Debuts CFV-39 Digital Back

New Back Turns V System Cameras into Digital Workhorses

The new Hasselblad CFV-39 digital back, custom built to match the design and functionality of Hasselblad V cameras, turns every V camera into an easy-to-use digital workhorse.

The 39-megapixel back, with a sensor twice the size of premier DSLRs, features two capture modes and a new digital lens correction technology for Carl Zeiss lenses, powered by Mac- and Windows-compatible Phocus image processing software.

�Quickly and easily, the Hasselblad CFV-39 can transform a V System film camera into a high-performance digital camera,� says product manager Peter Stig. �Just snap on a charged battery, insert a CF card, add the back, and you�re ready to shoot.�

Among the CFV-39�s features and capabilities:
~ The Hasselblad Natural Color Solution offers a generic profile that delivers true colors right out of the box.
~ All V System cameras operate cable-free. The 202 FA, 203 FE, and 205 FCC are fully supported. Other 200 and 2000 series models can be used with C-type lenses only.
~ All F and FE lenses work seamlessly with the CFV-39 using 202FA, 203FE and 205TCC/FCC (camera requires slight modification).
~ There are two selectable image formats: square (29 megapixel, 5412x5412) and rectangular (39 megapixel, 5412x7212 pixels).
~ The sensor is 100 percent larger than a full-frame 35mm DSLR sensor.
~ Image storage options include using a CF card for untethered operation or computer hard drive for tethered operation.
~ A Hasselblad raw file format, 3F RAW (3FR), ensure that images captured with Hasselblad digital products are quickly, effectively, and safely stored on the available media.
~ The 3FR files can be opened directly in Adobe Photoshop CS4, in Aperture on Mac OS-X, and converted directly into Adobe�s DNG (Digital NeGative).
~ Hasselblad image files carry a full set of metadata, including capture conditions, keywords and copyright, facilitating image asset management solutions.
~ Fits traditional view cameras: with the V camera interface plate for mechanical attachment and the flash sync connection to trigger digital capture.
~ Capture rate of 1.4 sec per capture with 39 captures per minute.
~ ISO speeds range from 50 to 800.
~ H camera owners can gain full access to V lens DAC correction by using the CF lens adapter.

�The Hasselblad CFV-39 brings an ultra-high level of integration, flexibility, and image quality to the professional photographer who needs the best for mobile and studio shooting,� says Peter Stig.

For more information on the CFV-39, click here.


Text by Alice B. Miller

Hasselblad Debuts CFV-39 Digital Back

New Back Turns V System Cameras into Digital Workhorses

The new Hasselblad CFV-39 digital back, custom built to match the design and functionality of Hasselblad V cameras, turns every V camera into an easy-to-use digital workhorse.

The 39-megapixel back, with a sensor twice the size of premier DSLRs, features two capture modes and a new digital lens correction technology for Carl Zeiss lenses, powered by Mac- and Windows-compatible Phocus image processing software.

�Quickly and easily, the Hasselblad CFV-39 can transform a V System film camera into a high-performance digital camera,� says product manager Peter Stig. �Just snap on a charged battery, insert a CF card, add the back, and you�re ready to shoot.�

Among the CFV-39�s features and capabilities:
~ The Hasselblad Natural Color Solution offers a generic profile that delivers true colors right out of the box.
~ All V System cameras operate cable-free. The 202 FA, 203 FE, and 205 FCC are fully supported. Other 200 and 2000 series models can be used with C-type lenses only.
~ All F and FE lenses work seamlessly with the CFV-39 using 202FA, 203FE and 205TCC/FCC (camera requires slight modification).
~ There are two selectable image formats: square (29 megapixel, 5412x5412) and rectangular (39 megapixel, 5412x7212 pixels).
~ The sensor is 100 percent larger than a full-frame 35mm DSLR sensor.
~ Image storage options include using a CF card for untethered operation or computer hard drive for tethered operation.
~ A Hasselblad raw file format, 3F RAW (3FR), ensure that images captured with Hasselblad digital products are quickly, effectively, and safely stored on the available media.
~ The 3FR files can be opened directly in Adobe Photoshop CS4, in Aperture on Mac OS-X, and converted directly into Adobe�s DNG (Digital NeGative).
~ Hasselblad image files carry a full set of metadata, including capture conditions, keywords and copyright, facilitating image asset management solutions.
~ Fits traditional view cameras: with the V camera interface plate for mechanical attachment and the flash sync connection to trigger digital capture.
~ Capture rate of 1.4 sec per capture with 39 captures per minute.
~ ISO speeds range from 50 to 800.
~ H camera owners can gain full access to V lens DAC correction by using the CF lens adapter.

�The Hasselblad CFV-39 brings an ultra-high level of integration, flexibility, and image quality to the professional photographer who needs the best for mobile and studio shooting,� says Peter Stig.

For more information on the CFV-39, click here.


Text by Alice B. Miller