News Blast May 2 2012

Today, Edvard Munch's "The Scream" is scheduled to go on auction by Sotheby's and is projected to bring US$80M ... yes, that is million. (@ABC)  This is a time when I wished I had taken more interest in something other than sports as a kid!


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Five Years ... and Counting

2007 Original Catalog

By Peter Gasca, Co-Founder and CEO Wild Creations

Last week marked the five year anniversary for Wild Creations!  And, like any proud parent, all I can do is ask myself … Where did the time go???

When my business partner and Wild Creations' Co-Founder, Rhett Power, and I started this business in March 2007, we of course had big aspirations.  Our goal was not to run a company simply to “make a living” for each of our families, but instead to establish and nurture an exciting and adventurous business that attracted partners who shared our passion for life and desire to make an impact.  It seemed a pretty straight forward and altruistic goal.  Really, what could go wrong?

Coastal Carolina Presentation

In response to many requests for the presentation given for the Coastal Carolina Wall College Global Business Forum key note, I've included it here.  You may also find the PDF link at www.PeterGasca.com.  Enjoy!

Moving Beyond Hand Buzzers

I read a great article in Fast Company's Co.Design by contributing author Hellen Walters, who writes about the "4 Elements That Make A Good User Experience Into Something Great".  As the title implies, product design is critical for not only function but also to set expectations for "what we expect (the product) to do, and then, ideally, get the hell out of our way until we need it again".  Apple products, such as the iPod, are great examples.  Apple was the first to introduce a music player that was intuitive, attractive (red anyone?), and didn't scare the Belarus out of you!  For us working in the toy industry (and especially for us integrating more technology into our designs), these concepts are as important as ever and should be a part of the design team's tattoo collection.

Lower Taxes - a Liberal Idea?

Today, Obama announced his plan to cut corporate tax rates to 28% from the existing 35%.  There is a lower effective tax rate proposed for US manufacturers, firms that return jobs to this country and to companies that relocate to some communities that have lost big employers.  The craziest part about this ... the other side is already baulking at the proposal.  Since when is lowering taxes something the Republicans don't like?

What Private Equity Can Teach Entrepreneurs

It is rare that private equity will offer an entrepreneur anything more than indemnification or a really rough and painful life lesson, which is why I found the article in Strategy and Business Finance that offered entrepreneurs the "Seven Value Creation Lessons from Private Equity" wonderfully refreshing.  The lessons are so simple, and yet I find many entrepreneurs, myself included, deviating from them everyday.  Personally, I think every business owner should have these seven lessons printed on a card, kept on their persons, and reviewed daily!  Seriously.

Toy Fair NY 2012

The Toy Industry Association (TIA) Toy Fair in NY concluded this past weekend, and after our fourth year attending, I can say it went by pretty much as planned.  Much of the product development and new partnerships we are working on will not be ready until the summer (most likely for A.S.T.R.A. in Baltimore, MD), so this trip for me was to showcase our partnership with the Flipoutz and SnapTagz brands as well as an expedition to see new products and meet industry friends and associates.  And, while I can't say too much about what I took away (I don't want to give away too much here), suffice it to say ... it was a great trip!

Millennials and Wharholism

Most entrepreneurs and business managers are aware of two important trends that affect business these days:
1. The Baby Boomer Generation is HUGE, reaching retirement, and possesses significant assets that they are predisposed of spending.  They are also easier to relate to for most business managers (i.e. - me).
2. The birth rate in the US has been in decline, meaning that the market for upcoming generations of consumers is shrinking.  As well, generations such as the Millennials are maturing faster and are more sophisticated then their predecessors, which means they are more difficult to reach (figuratively) and relate to.
It is easy, therefore, to tend toward a business strategy that focuses on older consumers (let's face it, it's smart move).  With that said, however, if companies are able to develop a strategy to tap into the potential of younger generations (an easy task if understood properly), they can develop an intense loyalty that will be easy to defend against larger, stodgier companies.

Anyone Investing in Facebook?

Is Facebook sustainable?
Source: Examiner.com

Facebook announced this week that it anticipates filing for its much anticipated initial public offering, or IPO, as early as this Wednesday, 1 February 2012.  It is estimated (by some very smart people) that the company could raise $10 billion (that's US$, and with a "B"), which would give the company an immediate market capitalization ranging between US$75-100 billion.  To put this in perspective, the Washington Post compared this to other discussion-worthy IPO's, which shows that Facebook is in impressive company:

RIP SOPA

On Friday, January 20, Lamar Smith (R-TX), the chief architect of the Stop Online Piracy Act (SOPA), and Harry Reid (D-NV), the author of Protect IP Act (PIPA), pulled the controversial online piracy bills after months of controversy and protests, culminating in a day of online protests by major websites who "went black" to protest the bill.  I was late in understanding the entire issue, and indeed really knew very little about it until talk of blackouts started to swirl.  Now, before I have really wrapped my arms around it, they are dead.  Regardless, the topic has peaked my interest, and like any responsible citizen, I have felt compelled to know more.   I initially wrote about it, briefly, in "SOPA SOPA!", but I was looking at the topic very generally.  I have been seeking for a couple of days to find a way to better express my views, without having to reference Rick Santorum.  On Friday, it was done for me.