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A Football-centric Episode!

Sporting events, financial Mecca's and the internet.

The BusinessMakers

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Summary:

Katie Laird and Esther Steinfeld dissect the week’s business news and cover The Big Game. Steeler Nation is crying and it’s a major financial set-back. What to do with 2,000 pounds of chicken wings?! In the aftermath of the Holiday Season, we’ll talk about profitable animal droppings. New players are appearing on the global financial scene. Could Toronto be the next Mecca? And CEOs say the darndest things: Eric Schmidt at Google makes a point about search engines. (“Ooops, I posted too much on Facebook!”)

Full Interview text

Esther: The big game is just around the corner and we'll be talking all things Superbowl for this very football-centric episode of The Overtime Show. We are your hosts, Esther Steinfeld –

Katie: And Katie Laird.

Esther: This week, aside from football, we're going to reset Russ Capper's interview with Anthony Broussard, a 22-year-old CEO and developer whose iPhone and computer games are really taking off.

Katie: And then we'll talk about the business of the Superbowl and why financially, it's so much more than just a game. And we'll also bring you the news of the week, including why one town is really feeling the pain of its hometown heroes not making the playoffs this year.

Esther: That's right. Steeler Nation is crying.

Katie: Aww! Oh, Pittsboig. (Laughter)

Esther: So, the Steeler Nation – their beloved team did not make the playoffs this year.

Katie: Yeah.

Esther: It's quite devastating for them. Not just because they bleed gold and black –

Katie: Uh huh.

Esther: - because this really hurts local business.

Katie: Seriously. I mean talk about a money bringer-inner. (Laughter)

Esther: Yeah.

Katie: And I should know 'cause the majority of my family lives in Pittsburgh right now in the States. There were a lotta pouty faces the last few weeks.

Esther: I'm sure.

Katie: So yeah, the terrible towels were a twirlin' and now they're probably locked away in a closet. (Laughter)

Esther: Yeah. Superbowl Sunday last year – owners of Zooky's Sports Tavern in Fallston and Robert's Roadside Inn in Bridgewater, bought more than a combined ton, 2,000 plus pounds, of chicken wings and sold them all.

Katie: (Laughter)

Esther: Is that insane?

Katie: That is crazy.

Esther: The owner of J.R.'s Beer Warehouse in East Rochester said last year was like Christmas all over again.

Katie: Oh, man. (Laughter)

Esther: Pretty insane. So you know you feel kinda bad for these local businesses who rely so heavily on bringing in this revenue. Apparently, you know, there's this huge economic impact when the Steelers don't make the playoffs. It's kinda crazy. So January 11, 2009 in the conference playoff game against San Diego Chargers at Heinz Field garnered the greater Pittsburgh area about $18.2 million.

Katie: That is amazing.

Esther: That's big business.

Katie: Yeah, that really is.

Esther: I mean it's really crazy. So then the championship game against the Ravens broug

ht the region $20.2 million.

Katie: Good Lord!

Esther: That's really a massive economic boost.

Katie: Seriously.

Esther: Especially for a region that's kinda been hurting in the last year or two.

Katie: Yes. Yeah, absolutely.

Esther: They could really use it.

Katie: Absolutely. So I mean –

Esther: Sorry, Pittsburgh fans.

Katie: - even though the Steelers didn't quite make it this year, I guess there's always hope for the Penguins next year. But even still, I mean that's – it's not nearly as big of a draw, like football is really what drives in the dollars in this town so –

Esther: Yep.

Katie: - major bummer. (Laughter)

Esther: We can relate to that down here in Texas, believe us.

Katie: Yeah.

Esther: Something that is quite crazy – not sports-related but totally worth mentioning.

Katie: (Laughter) Ooh, I like this.

Esther: Oh my gosh. Necklaces and Christmas ornaments made from dime-size pieces of reindeer droppings have earned a Bloomington, Illinois zoo nearly $21,000.00 this year.

Katie: (Laughter)

Esther: Or actually over the holiday season. I mean, seriously.

Katie: So this kind of reminds me – there's this non-profit organization called The International Rhino Foundation and just –

Esther: I don't like the sound of this.

Katie: - well and just like the Bloomington Zoo, what they do – but this is for fundraising for this non-profit, is they actually auction off on EBay giant rhino turds in glass boxes.

Esther: Ew! That's disgusting.

Katie: And you would not believe how many people went after it – I mean it's just so novel and so bizarre and at the same time for a really good cause, so it's really great. But I mean these things went for thousands of dollars. (Laughter)

Esther: Well, these little necklaces and ornaments go for like $5.00.

Katie: And I think I like the best what they're called. The magical reindeer gems.

Esther: (Laughter)

Katie: I mean like – (Laughter)

Esther: So listen to this – a magical reindeer gem is made from dehydrated, sterilized and spray painted with glitter reindeer droppings.

Katie: (Laughter) Is that what –

Esther: Spray painted with glitter. And I wanna know, what I wanna know how do you sterilize –

Katie: I don't know. (Laughter)

Esther: - a reindeer dropping? Isn't a reindeer dropping inherently –

Katie: Eww.

Esther: - unsterilizable?

Katie: I don't know. I really don't. So I mean maybe –

Esther: Who would wear a poop necklace? Come on.

Katie: And I mean that's like the ultimate white elephant, like, gift, you know?

Esther: (Laughter) Yeah. Literally.

Katie: Or if you really – if you wanna break up with your significant other around the holidays, next year get you some reindeer magical gems. (Laughter)

Esther: Exactly. It's like that movie, "How to Lose a Guy in Ten Days." It's like, just get him one of those.

Katie: Yes, this is a –

Esther: Honey, I want you to wear this every day.

Katie: It's a great representation of what our relationship means to me. (Laughter)

Esther: Oh. So gross.

Katie: Sterile poop covered in glitter.

Esther: Yeah (Laughter)

Katie: Thank you. (Laughter)

Esther: Wonder if you can choose the glitter color to look like gold or silver. So disgusting. Ugh. Well on to more actually business-related news – although I guess that was business-related.

Katie: Yeah, you know.

Esther: I mean it's a industry of sorts.

Katie: We're a diverse – we're a diverse show, here. You know we – equal opportunity for all business product offerings. (Laughter)

Esther: Poop necklaces? Or emerging financial centers.

Katie: Ah!

(Laughter)

Esther: Both relevant to our show. Well according to Entrepreneur Magazine there are some new players on the global financial scene.

Katie: Ah!

Esther: Some up-and-coming cities that kinda wanna make a name for themselves. So here are some of the highlights as far as I'm concerned. Toronto. I know Toronto is kind of a name in America and, you know, obviously in Canada, it's a major city but Toronto is ready to be the next Mecca of finance and financial activity.

Katie: Really?

Esther: Yeah, they really wanna be real active. They're regionally relevant but they're ready to kinda take that next step.

Katie: What are the conditions that they're looking at? Like what does a city have to do or be to be considered to be like a relevant –

Esther: Financial hub?

Katie: - center, hub?

Esther: Well one of the main things is that you have to have very lenient tax laws.

Katie: Huh.

Esther: For instance, Luxemburg is another city that's kind of making a name for itself because they've got Swiss-like tax legislation. So that's kind of a major thing is that there's gotta be a lot of private equity going on.

Katie: Okay.

Esther: There's gotta be a lot of buying of property, a lot of building, a lot of construction, you know Dubai is also on the list.

Katie: Oh yes.

Esther: Even though people are saying that the Dubai bubble is going to burst any day but there's still a lot of companies that have their regional financial offices, like Goldman Sachs is in Dubai and there's still a ton of building going on. I mean I'm not exactly sure what's gonna happen with all these crazy islands that are being built and the Tiger Woods golf resort that's being built there. I mean who knows.

(Laughter)

Esther: I mean they say they're still committed to that in Dubai and I'm sure they still are, maybe in Dubai it's okay if you have many partners, who knows.

Katie: Ahh! (Laughter)

Esther: Who knows? But they – they're still committed to building that and I think that they're gonna move on it and also a lot of Asian cities on this list. Like Hong Kong, Singapore. About Hong Kong, Entrepreneur Magazine called it the Disneyland for bankers.

Katie: Oh, my! (Laughter)

Esther: I'm sure there's an oxymoron in there somewhere but it's kind of interesting list. But you should check it out at Entrepreneur Magazine, entrepreneur.com.

Katie: Excellent. So now let's talk about one of our favorite segments on the show, CEO's Say the Darndest Things.

Esther: They really do.

Katie: They absolutely do.

Esther: Say some crazy stuff.

Katie: Yes. Now most recently, a very prominent CEO who you may have heard of, Eric Schmidt, who's the CEO of Google, had some very interesting highly contested words to say. Esther, you wanna tell us about it?

Esther: Sure. He said, "If you have something that you don't want anyone to know, maybe you shouldn't be doing it in the first place. If you really need that kind of privacy, the reality is that search engines including Google, do retain this information for some time. We are all subject in the United States to the Patriot Act."

Katie: And this is coming from Google, who is sort of the keeper of the web right now.

Esther: Exactly.

Katie: Like, (Laughter)

Esther: You know, actually what's quite funny about this is that a few years back some CNET reporters kind of did some snooping around about Eric Schmidt on Google, found some personal information about him and kind of wrote some stories about it and then he blackballed the reporters, all the reporters, at CNET for a full year for posting this personal information about him.

Katie: And I mean the information – it's not even like it was the name of his many mistresses or, you know, I mean like some bizarre pet that he, I – you know, I mean it wasn't –

Esther: Something really secretive.

Katie: Exactly. I mean it was stuff that, okay maybe you don't want everyone to know your salary, your neighborhood, political donations, but I mean these are things that were all available on the web, not deep, dark, dirty things. So basically –

Esther: It's his own fault.

Katie: - exactly! You shouldn'tve created such a good search engine. What?

(Laughter)

Esther: I mean do you agree with that? Do you agree that every – just because you don't want people to know about it, it's something shady or bad?

Katie: No, I completely disagree with that and what's really freaky is that there's stuff out there on the web that you – that's about you that you did not put on there.

Esther: Exactly.

Katie: So what if there are some, you know, unscrupulous companies that right now are reputable. Five years down the line they get just flushed down the toilet. They have all this information on you out there. I mean, like there are things that you definitely have a right to keep private. So it's not just like, "Oops I posted too much on my Facebook profile," like it's stuff that really, really counts that you have no control over how it's getting out there right now.

Esther: Exactly.

Katie: And I mean that's – to me this is an unacceptable response from someone that's in a tremendous position of authority that can do something about it and I'm sure that this is not going to remain his position. (Laughter)

Esther: No.

Katie: I'm sure he's being strongly advised in a completely different direction. (Laughter)

Esther: I can't believe he even said it. It's quite shocking.

Katie: But it does go to show that the things that you can control you have to be really smart about. So I mean you don't have 100 percent, you know, grip on everything but just –

Esther: Yeah, be careful what you put out there.

Katie: - beware. Even the CEO of Google – things come out that he didn't want. So you just, yeah. (Laughter)

Esther: Exactly. Well, coming up in segment two we've got Russ' interview with Anthony Broussard, a very young guy, programmer from Houston, who's doing some amazing things and we'll see you in segment two. You're listening to The BusinessMakers Overtime Show, heard here and online at thebusinessmakers.com. We'll be right back.

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