Gawker: Money Matters

Time Out Boss Decries, Confirms Gossip

Hamilton Nolan — Thu, 04 Sep 2008 17:03:51 EDT

Time Out New York president Alison Tocci just sent out a memo to the magazine's staff addressing the "anonymous, typo-riddled post on Gossip, I mean, Gawker.com, which alludes to our imminent demise." She confirms TONY's money troubles, which were the subject of our rumormonger post yesterday, but says that the magazine's trusty investors are ponying up cash to ensure that everyone is paid! Within three months. The full zing-y memo:

To: All TONY Staff
Fr: Alison Tocci

Statement from Time Out New York President Alison Tocci:

As Time Out reaches its 40th anniversary in London, and Time Out New York passes the 13-year mark, there is much to celebrate. Sadly, some of our achievement has been clouded by an anonymous, typo-riddled post on Gossip, I mean, Gawker.com, which alludes to our imminent demise.

I can assure you that rumors of our demise have been greatly exaggerated.

Time Out, like all print media, has felt both the specific downturn in print ad sales as advertisers and readers migrate online, and the general economic downturn complicated by rising paper and printing costs. In addition, we have made significant investment into our own costly transition online.

The result is a tight cash flow situation that has led unfortunately to very slow payment to our vendors and freelancers.

Happily, our New York investors, who understand the value of the brand you have all built and have been entirely supportive over the past 14 years, remain fully committed to us. They have stepped up to the plate in a significant way and I can assure you that our valued vendors, freelancers and all service providers who make what we do possible, will be brought up to date over the next 90 days.

And unlike our anonymous and gossipy friend, you can sign my name to that.

Alison Tocci
President
Time Out New York

[Alison, please send future typo corrections and memos here.]

Magical Website Makes Everything Affordable

Hamilton Nolan — Wed, 06 Aug 2008 14:15:03 EDT

You know those handy online calculators that purport to tell you exactly how much any website is worth, were it for sale? They're the type of thing that bloggers use so they can brag that their blog is "worth" many thousands of dollars in a parallel universe. All these things are pretty blunt instruments, but Mental Floss found one called WebsiteOutlook.com that is very bad. Don't like our assessment? Why don't you just buy this entire website for $1.1 million, then? In reality, that won't even cover the value of a single Montauk Monster post. But oh, it gets even more ridiculous:

Google: WebsiteOutlook value: $1.2 billion. Market cap: $153 billion.
Daily Candy: WebsiteOutlook value: $112,000. Just sold for $125 million.
Amazon.com: WebsiteOutlook value: $75 million. Market cap: $33 billion.
Ebay: WebsiteOutlook value: $134 million. Market cap: $33 billion.
Mediabistro: WebsiteOutlook value: $459,000. Sold for $23 million. Then again, [joke].

[via Mental Floss]

Financial Gurus Like Hyundai's Checks, Are Neutral On Their Cars

Hamilton Nolan — Wed, 30 Apr 2008 13:20:04 EDT

Larry Winget: bald person, financial guru, Hyundai pitchman. He's one of several financial authors who appear incongruously in Hyundai's current ad campaign, which features some "normal" people who, upon seeing an anonymous man in a tie pop up behind them at a car dealership and offer advice, react by saying excitedly, "Hey! Aren't you [financial author] of [personal finance advice book]?!" Whereas a real person would probably kick them in the nuts. The funny thing is that bald financial guru and Hyundai pitchman Larry Winget now says he doesn't necessarily want people to buy Hyundais at all!

None of us are suggesting that you immediately run out and buy a Hyundai or any other car. I know I am not. My point in doing the commercial is that IF you need a car at least buy one that has cash back and zero percent financing. And it is a reminder that a good car doesn't always come with a high price tag. All of the "gurus" agreed on those points.

I'll tell you what all the "gurus" agreed on: your personal finance situation will be greatly enhanced by starring in Hyundai commercials. Here's Larry's commercial—is he suggesting you run out and buy this crappy car or what?

[via Galleycat]

Business Types Find Excuse To View Swimsuit Issue At Work

Hamilton Nolan — Tue, 12 Feb 2008 17:09:46 EST

Now that the Sports Illustrated swimsuit issue has hit the stands, most Americans are wondering: What does it mean for the S&P 500 Index? Luckily, some financial bloggers have gone through their back issues, correlated the country of origin of the cover models with economic statistics, and answered the question! Turns out that an American on the cover, like we have this year, equals a much higher average gain for the S&P. This so-called "Swimsuit Issue Indicator" is the exact opposite of the "Time Magazine Indicator," which predicts that having George W. Bush on the cover of Time correlates closely with poverty and war. Har. After the jump, Bespoke Investment Group's full 30-year chart in all its number-having glory [via Dealbreaker].