You are currently browsing the daily archive for March 11th, 2008.
Don’t know who to give credit to for this post. It came in an email that did not provide the author.
Rule 1 : Life is not fair – get used to it!
Rule 2 : The world won’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.
Rule 3 : You will NOT make $60,000 a year right out of high school. You won’t be a vice-president with a car phone until you earn both.
Rule 4 : If you think your teacher is tough, wait till you get a boss.
Rule 5 : Flipping burgers is not beneath your dignity. Your Grandparents had a different word for burger flipping: they called it opportunity.
Rule 6 : If you mess up, it’s not your parents’ fault, so don’t whine about your mistakes, learn from them.
Rule 7 : Before you were born, your parents weren’t as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you thought you were. So before you save the rain forest from the parasites of your parent’s generation, try delousing the closet in your own room.
Rule 8 : Your school may have done away with winners and losers, but life HAS NOT. In some schools, they have abolished failing grades and they’ll give you as MANY TIMES as you want to get the right answer. This doesn’t bear the slightest resemblance to ANYTHING in real life.
Rule 9 : Life is not divided into semesters. You don’t get summers off and very few employers are interested in helping you FIND YOURSELF. Do that on your own time.
Rule 10 : Television is NOT real life. In real life people actually have to leave the coffee shop and go to jobs.
Rule 11 : Be nice to nerds. Chances are you’ll end up working for one.
Breaking from Newsmax.com
Gore to Rake in IPO Millions
Former Vice President and global warming crusader Al Gore stands to make close to $50 million when the TV channel he co-founded goes public with an Initial Public Offering.
Current TV, which debuted in August 2005, has been billed as “television for the Internet generation” of tech-savvy 18-to-34-year-olds, and allows viewers to contribute much of its content.
Story continues below . . .
But it currently is available in only about 19 million U.S. homes, and has lost $31.5 million over the last three years, Ron Grover discloses in BusinessWeek.
Current Media, Current TV’s parent company, hopes to raise $100 million in a public offering it filed on Jan. 28. Some of the money raised will go to lenders, who include a few major Democratic Party fundraisers.
“Something about this deal just doesn’t sit right with me,” Grover observes.
He notes that Gore and co-founder Joel Hyatt not only will take “piles of cash,” but they also collect “hefty salaries for a company that hasn’t shown a profit in three years — taking down $491,677 apiece last year in cash.”
Gore and Hyatt also collected $550,000 bonuses for, in Gore’s case, helping get the company new affiliate agreements and putting together a management team. The two currently receive $600,000 a year in salary and can collect additional bonuses.
“What really sticks out to me,” Grover writes, is that Gore and Hyatt, “who jumpstarted the company with a broken-down Newsworld International channel they bought for $70.9 million, will have the kind of hammer-lock control over the company decried by shareholder rights activists and many of the same unions that supported Gore for years.”
Gore and Hyatt will control all of the company’s B shares, which give them 10 votes for every vote of a common shareholder with a Class A share, according to the filing.
The company hasn’t yet set a price per share for its IPO, but Grover cites one estimate of between $13 and $15 per share, making Gore’s 3.7 million shares worth more than $48 million.
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