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Archive for March 2009
March 31, 2009
The government is now in control of GM, which may be a very good thing, for GM. Our government is loaning money to GM, and Obama's administartion asked Wagoner to step down. He is being replaced by the former COO, Fritz Henderson.
Former General Motors Corp. Chairman and Chief Executive Rick Wagoner won't get a severance payment from the automaker, but he'll still get a pension and other benefits worth an estimated $23 million.
In nearly 32 years with the company, Wagoner accrued pension benefits that the company valued at $22.1 million at the end of last year. The actual amount Wagoner will receive could vary because it will be paid in installments over the rest of his life.
I wanted to point this out, because I just listed to Larry Kudlow from CNBC discussing the plan to bring the automaker back to profitability. Larry Kudlow was ranting, as he usually does, that the only way to save this GM is to declare bankruptcy and eliminate the union contracts with employees, thereby eliminating pension benefits, and reduce wages of the workforce. The Unions didn't put GM in this position, and although it is not punishment to the Union for the government to request concessions, it is important to understand where the loss of market share and fiscal viability happened, so they can repair the damage done to the corporation.
I think the executive compensation and spending at all the automakers has been out of control for years. I think a reason they're financially hurting is they have resisted energy efficiency and innovation, and have made shitty cars for a very long time. For Toyota to have the car that symbolizes energy efficiency in the Prius is an indicator of where Detroit fumbled the football.
While everyone who has ever owned a Honda raves about how well they are made, all of us (yes, my family always bought GM) who have owned GM have a stories of things like door handles breaking. These stories are reasons why people have decided to try other automakers.
While GM compromised the quality and status of brands like Cadillac, they continued to try and shove Blazers and Suburbans down the our throats. Our government gave all of us tax credits for buying trucks. Individuals still have the ability to deprciate vehicles with 5,000 lb curb weight in year 1, rather then over 5 years. That same credit could have been, or can be applied to energy efficient vehicles, which typically cost less then luxury SUV's, and we can stimulate some auto sales. Fleet buyers can replace their vehicles with cars that use less fuel, and emit less pollution.
I can't pretend to have the answers. My experience with Detroit is our annual trip to watch the White Sox beat the Tigers, followed by the drive over the bridge to Windsor Canada for strippers beer and dinner. I am hoping we can right the ship, and start building cars that Americans want. If we do that, we can then build cars that other countries want. We can build better cars then Honda and Toyota, and we can outsell them too.
March 30, 2009
Hope your weekend went well. Just a question, did you recognize Earth Hour? It was Saturday night, 8:30 pm. I turned my lights off. Kept the TV on though. I could sacrifice TV if I had to. I think lights off was a pretty strong message to the Earth that I support the efforts to curb global warming.
This reminds me of a "Hands Across America" light. Hands Across America was an event to help raise money to fight hunger and help the homeless. NJOY NOW wasn't around during the Hands Across America event, neither was the Internet. It was in 1986, and Hawaiians are still upset that they were not included. Unofficial survey of the NJOY NOW offices has 2 NJOY NOW participants from Hands Across America.
It's amazing what the Internet is capable of when it comes to word of mouth marketing. Granted, we have 500 channels of garbage on 24/7, the Internet is where these shitty stations find their news. Events like Earth Hour can do so much more marketing, more effectively, and less expensively then any other time in history. The NJOY NOW marketing team understands this, and uses this knowledge everyday.
We are a small business, that understands marketing 2.0. The dot com is back, and better then ever. Companies that are buying big billboards, TV and radio commercials, and print ads are wasting money. We are becoming a referral based society that buys by word of mouth and through true references.
We plan our weekends through emails and text messages with friends. We attend events that are promoted on the web. Barack Obama is the 44th president of the United States, Mr. Obama is also US President 2.0. He is the first to use the web for what it was made for. Fast communication and entertainment. Convenience and social networking. References and opinions. The information super highway, where all the information may not be true, but the supply never ends.
Earth Hour was a success, and Hands Across America may have had a couple broken links. The Internet is the answer, because people do want to contribute. It is painfully obvious that we have challenges, and the Internet can be an asset in overcoming these challenges. Solutions are important, not impossible. NJOY NOW is a simple little solution. It protects children, and reduces identity theft and fraudulent credit card transactions, and helps keep your computer safe and clean. Next Hands Across America, NJOY NOW will help fill a couple of the broken links.
March 25, 2009
Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan “Press On” has solved and always will solve the problems of the human race.
- Calvin Coolidge
Last night we saw President Obama discussing our proposed economic recovery and take questions from reporters in the East Wing. When he proclaimed persistence is needed, he touched me. This is the missing ingredient in so many businesses. Persistence is needed to succeed, and Barack Obama is our President, and he understands Persistence. Do we, as entrepreneurs and business owners have persistence?
What Is Persistence?
Persistence is the ability to maintain action regardless of your feelings. You press on even when you feel like quitting.
When you work on any big goal, your motivation will wax and wane like waves hitting the shore. Sometimes you’ll feel motivated; sometimes you won’t. But it’s not your motivation that will produce results — it’s your action. Persistence allows you to keep taking action even when you don’t feel motivated to do so, and therefore you keep accumulating results.
NJOY NOW is a new category in convenience stores. Persistence is needed to create a new category, and our company is not only persistent, but 100% committed to the NJOY NOW brand, and the adult prepaid cards - products category.
When to Give Up.
Should you always persist and never give up? Certainly not. Sometimes giving up is clearly the best option. Seth Godin has written a wonderful, small book called The Dip. I highly recommend it for every entrepreneur and business man reading this. I also would like all store owners, clients, distributors and franchisees to read this little book. The Dip is insightful, and inspiring.
Both George Bush, and Barack Obama lost elections in smaller political races before they ultimately won, then went on to lead the United States of America. They did not quit politics after a loss, but they learned what it takes to win, by losing. They were in a Dip, but did not quit.
So how do you know when to press on vs. when to give up?
Is your plan still correct? If not, update the plan. Is your goal still correct? If not, update or abandon your goal. There’s no honor in clinging to a goal that no longer inspires you. Persistence is not stubbornness. Success comes from careful analysis of what you are working toward, and taking the risk needed to achieve something that is special, and unique.
The value of persistence comes not from stubbornly clinging to the past. It comes from a vision of the future that’s so compelling you would give almost anything to make it real. The vision we have for NJOY NOW is beyond compelling, it is addictive. NJOY NOW is the future of adult entertainment on the Internet.
We have created a solution to identity theft on line.
We are building a new category for convenience stores to lean on for new revenue that does not cannibalize previous product sales or categories. This is the Internet. Web 2.0 for adults.
We are protecting children, while entertaining adults.
This is a mission we NJOY... Now.
Persistence of action comes from persistence of vision. When you’re super-clear about what you want in such a way that your vision doesn’t change much, you’ll be consistent in your actions. And that consistency of action will produce consistency of results.
March 24, 2009
Here is a ridiculous story from the Chicago Tribune about a man who lost his life when his insane girlfriend found his porno stash in October. Damn, this guy should have tried NJOY NOW. Privacy really is priceless…
“A Chicago woman who became enraged after discovering her longtime boyfriend’s stash of pornography shot and killed him in their South Side home over the weekend, prosecutors said.
Jeanette Strowder, 58, is facing a first-degree murder charge in the Sunday shooting of Jesse Martin, 54, her boyfriend of about 15 years, police said.
Strowder and Martin had lived together in the 5300 block of South Shields Avenue for the last two years, prosecutors said at a hearing Tuesday at which Strowder was ordered held in lieu of $600,000 bail. On Sunday night, Strowder found CDs inside the home containing images of nude women and lost control, authorities said.
“The defendant confronted the victim, got a gun and shot him multiple times, including two to the head,” said Andy Conklin, spokesman for the Cook County state’s attorney’s office.
Prosecutors said Strowder gave a videotaped confession. She has no criminal history. Criminal Court Judge Raymond Myles set an Oct. 22 court date.”
March 23, 2009
We are going to keep the St. Patrick's theme going for at least another week.
The Mormon and the Irishman
A Mormon was seated next to an Irishman on a flight from
London. After the plane was airborne, drink orders were taken.
The Irishman asked for a whiskey, which was promptly
brought and placed before him.
The flight attendant then asked the Mormon if he would
like a drink. He replied in disgust, "I'd rather be savagely raped
by a dozen whores than let liquor touch my lips."
The Irishman then handed his drink back to the attendant and
said, "Me, too, I didn't know we had a choice.
NJOY.
March 20, 2009
March 19, 2009
Does everything now have caffeine in it? I like energy, need it all the time. I probably drink 2 or 3 Red Bull's a week (week, not a day). That would be alcohol free consumption. Add Jaeger Bombs and that may add a couple cans to that weekly number.
So as a convenience store guy, I'm seeing more products that are delivering caffeine, and I'm trying to understand why. This is a crowded space. We've just seen the creation of the 2 ounce energy shot category. Congratulations to 5-Hour Energy on a very impressive roll out. If you can't find 5-Hour Energy, you are not in the United States. Great job of first marketing and selling in to the convenience stores, and even big box retailers (I've seen 5-Hour at Home Depot). Now their marketing and advertising to the consumer has followed perfectly. Lot's of copy cats is also an indication of a job well done creating a vibrant market. 5-Hour Energy's first mover advantage looks significant, too.
This energy shot category is now here to stay. I personally don't get the need. Red Bull created the energy drink category, despite pioneer efforts from Jolt Cola. Jolt had FMA, but Red Bull is the one that made it happen. We still have Mountain Dew, Coca-Cola, All the 16 ounce cans, and let's not forget plain old coffee. Starbucks just rolled out an instant coffee, Via.
Stacker has been making energy pills that can keep you up for days, for years. FRS is a company that is selling "healthy energy." One of their products is an energy chew, like a Starburst. I have seen other energy chews. Caffeinated gums, like Mad-Croc are showing up on every candy shelf and candy MVE.
Can we create a sophisticated, prepaid energy card, for adults?
We must begin working aggressively to create a caffeine delivery system that will work with the NJOY NOW prepaid card. What if we can somehow attach a scratch and sniff coating to the card, that when inhaled delivers a burst of energy? NJOY NOW could be so much more then just a porn card. We will create the at home entertainment cure for sluggishness. Hold it, could this also be a recipe for insomnia? We better think this one through a little longer. Maybe a caffeinated, and non-caffeinated NJOY NOW card?
OK, ideas don't always clear the vetting process. I just wanted to illustrate that there are crowded categories in our convenience stores, and we may want to encourage and create new categories, instead of overloading the currently well covered ones. I personally would like to stop an entrepreneur from creating a Red Bull Beef Jerkey, or a 5-Hour Energy Eye Drop. We are not ready...
March 19, 2009
If you have a chance, take a look at the user site. Traffice has been increasing steadily, and we are installing more features each day. We just introduced a translation application that makes it easier for Spanish and Germans to navigate and enjoy, NJOY NOW. This is an API we designed and developed, and although beta, is sophisticated and scalable.
We are actively seeking international partners, and ultimately, they will have the ability to make these translations linguistically perfect, and update constantly. Our international partners will be able to post country and language specific news, columns, stories and blogs. NJOY is serious about delivering great product globally. The United States has shown us that this is viable. Our numbers are in, and in a down year economically, we posted higher revenues in 2008 then in 2007.
The NJOY NOW translation application will be adding other popular languages very soon, meaning within the next week. French, Portuguese, Dutch, Italian and Russian are next. If you have any requests for specific countries, please contact your account rep. Although video, and sex are universal, we are still striving to make our site easier for our customers to navigate.
Our cards are available in English, USD, Canadian Dollar, British Sterling, Euro and Australian Dollar. The NJOY NOW card is also available in Spanish Dollar, Mexican Peso, Spanish Euro, Portuguese Euro, German Euro, and Dutch Euro. We are committed to global growth, through local success. We have developed a business model that can be duplicated in any territory in the US and Canada, as well as most countries.
March 17, 2009
St. Patricks day, and the weather is amazing in Chicago. This is an evening we will NJOY.
We have been trying to focus on building our brand, and expanding our audience, but the day is entirely to nice out. If you're near Alcock's, meet us for a pint o' Guinness.
If you haven't been on NJOY NOW recently, get in there and check out our news story about a leprechaun siting in Alabama. It is an entertaining news story, and video.
Advice for tomorrow.
1. Show up to work. Do not call in sick, we know you have a hangover, and that does not count as sick.
2. Drink water. It helps. Buy a couple of bottles from one of our convenience store clients. Get an NJOY NOW prepaid card too.
3. Log in to NJOY NOW. That is advice for everyday.
Hope all is well with your business. We hope you have a very Happy and Safe St. Patrick's day. We especially thank our convenience store clients, our franchisees, and our distributors. Thank You.
March 16, 2009
In Chicago we have 2 parades. Downtown, which has tons of imported new talent that is enthusiastic about engaging in strange sex with Chicago guys, or anyone nearby. These vixens that are dying to prove how "cool" they are can be had 2 at a time by any guy with a story or a sack.
The Southside parade? Whole other animal. Bad form to drink on the east side of the street. West side has "Irish" going nuts. Beer, whiskey and vomit flowing. Don't visit Chicago during the parade and miss the experience on the Southside. Like Downtown and the transplants (revelers and tits), you'll still get tail, but it will be local, less friendly, sexier, and she may get pregnant. Couple of NJOY NOW staffers were born around the middle of November. We all know why.
If you've been to the parade, you've eaten a corned beef sandwich in someone's (southsiders) home who you did not know. You still may not know, that homeowner/chef. The family in our city are large, and extend beyond the members we know by name. This is not unlike love. Our homes and hearts open up and we drink and eat with friends, old and new.
Tomorrow is the 17th of March, which is the day. I think we (the NJOY NOW office) still have the energy, and capacity to keep up the week of green revelry. I'll avoid all bars that have bagpipers (no offense, shit is just too loud). I'll drink beer, and instead of vodka, I'll have a couple of Jameson's. RESPECT.
Hope you guys have fun - too. Use a cab, or our guy Zeke to get you home. Please try and avoid the long Chicago tradition of missing work after St. Pat's. We'll all show up on Wednesday. After 10 am.....
March 13, 2009
CSP did a wonderful job moderating this forum, and directing the panels. I realize how hard this is. I have been to a lot of forums and discussions that lacked this direction. Some quickly devolve into one sided conversations or rants that yield no value to the attendees. This was not the case here. We gained a lot of insight into the products available, and the needs of our convenience store partners because of CSP's focus, and experience. Thank you.
The panel from Green Dot, Nfinanse, and Netspend was very interesting. These products are exciting. The panel did a great job of helping us understand broad financial products and services. We are a portable society, and the people that do not have access to credit are being well served by your products.
Incomm, Payspot and Coinstar are the leaders in prepaid. We sometimes forget how much you have done, and how quickly. It feels like we have always had gift cards but this is not the case. The pioneers in this business have created new financial opportunities for suppliers and stores.
Prepaid is still dominated by telecom, gas and gift cards. The beauty of prepaid, is these items are necessary, and used every day. The exciting products that are being introduced are only going to enhance what has already been established. Music, games, and entertainment are going to be big, and profitable. The Internet is in it's infancy, and participating in it's evolution is exciting. Services available online will become profit centers for our stores, as we create demand for our products.
I have been working in and with convenience stores for 15 years. Stores sell products, but as a manufacturer, creating demand for these products falls squarely on my shoulders. We do expect merchandising and cooperation, as well as compliance. In return, we must create demand, and our products MUST yield profit to our partners. Gross sales sometimes overshadow the real need our stores have, which is net profit per unit sold. My goal is for us to be able to deliver a product with no financial exposure to your store, with a high net profit per unit sold. If we do this well, and tastefully, we expect enthusiasm, which helps deliver more sales, new customers and better products.
Reward programs will become more prevalent. While our cards do capture consumer data, which is valuable, they can do more. Building loyalty is needed. This is why Amex and other cards pay cash back, or offer miles. This can be done on many different levels with virtually any product. As convenience store owners, we all remember Marlboro Rewards. Who hasn't received a Marlboro kayak from an aunt or uncle that smoked (RIP)? My hand is up, it was a pocket knife. Not even a good gift - to regift.
I don't want to deliver a Jerry Maguire style manifesto today, and I am beginning to realize this letter is to long. If you haven't seen Jerry Maguire, it's a pretty good movie. Jerry is a sports agent who has a meltdown, and writes a long manifesto about the state of sports representation. This document ends up costing him his job, and he winds up with one client, a stubborn, egomaniac wide receiver for the Cardinals. It's a good movie, and can be watched with your spouse. It has a little romance in there, and a cute kid. Look for my manifesto later, when CSP gives me a column. In the meantime, I do want to share some thoughts.
We own convenience stores. Let's consider who we aren't, so we can reinforce who we are. We are not banks, toy stores, beauty salons, or pet stores. We may sell gas, but we do not sell cars. We are NOT big box retailers, and will never be confused with Wal-Mart.
We sell a couple thousand products, and usually these products are the best products in their category. We don't want to sell 30 different kinds of beef jerkey or toilet paper. Our coffee is great! We sell the most popular beers. We sell lottery tickets, and the numbers on the keyboards of these machines disappear because we hit them so often.
We sell a lot of cigarettes, Red Bull, condoms, Maxim Magazine (I love impulse sales, even if they don't pay RDA like they used to). We sell a lot of products to adult men. Everyone we sell to is out the door inside of 5 minutes.
We have all been cashiers, or managers, or executives in stores. If you are a supplier and you haven't spent serious time in a c-store, you should. It will make you a better supplier.
NJOY NOW is a product we designed for your stores. Adult men and women are watching adult entertainment on the Internet. We have the stats, and they are staggering. 1 out of 3 adults that own a home computer watch adult entertainment on it. NJOY NOW is a better way to pay.
NJOY NOW is also is a solution that protects children. You can only watch adult movies on our sites, if you have logged in. This means you were age verified. Our store clerks are the perfect filter, as our stores are well prepared, and equipped to check i.d.. NO FREE PORN. This is a solution that will protect our children. We advocate child protection and are completely compliant in every state. We want to thank Tom Dart, our Cook County Sheriff for helping in this fight to clean up the Internet, and Craigslist in particular.
I have a card game tonight. Stopped at the store by my house, on Taylor Street this morning. I bought a case of Bud Light, 2 packs of blue Bicycle playing cards, a Chicago Sun Times, and a Red Bull. Even though I had to ask the girl to open the beer cooler, I was still out the door in 3 minutes! Even though I have been a part of the c-store industry most of my adult life, I do not overlook the reality that I am also a customer. We all need to do this, and we will be able to recognize opportunities.
This CSP forum was a great way for us to focus on a specific category that continues to expand in our stores. Let's work together so this category can enhance our bottom line. Thanks for helping my company learn more about your needs. Now I'm gonna get my game face on, I want to win some money tonight.
NJOY.
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