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How did Alibaba get its name?

The Alibaba corporate logo in China.(Photo: Alibaba)SAN FRANCISCO -- We're used to tech companies having odd names, Yahoo springs to mind. So Alibaba as a name for a company whose initial public offering could be one of the world's largest isn't a surprise.The name came from a brainstorm by the company's founder and CEO, Jack Ma.A former English teacher, Ma knew the story of Ali Baba and the Forty Thieves, from a collection of Arabic stories called One Thousand and One Nights.IPO ANNOUNCED: China e-commerce giant Alibaba set for U.S. IPO[1]BIGGEST IPO? : Alibaba IPO most likely to top $1 billion[2]According to an interview[3] he gave in 2006 with CNN's Talk Asia program, Ma was in a San Francisco coffee shop when he came up with the name. He asked the waitress whether it was something she was familiar with."I said, 'What do you know about Alibaba?' and she said 'Open Sesame.' And I said, 'Yes, this is the name!'" he told the interviewer.In the story, the phrase "Open Sesame" magically opens the secret door to a treasure trove.Next Ma went into the street and started asking random passers by if they knew the name Alibaba. Everyone, no matter where they were from, was familiar with it.Ma liked the name because "Alibaba is a kind, smart business person, and he helped the village," he said. "Alibaba opens sesame for small- to medium-sized companies."FIRST TAKE: libaba appeases a battered tech market[4]In China the company is called 阿里巴巴, pronounced A li ba ba, a direct transliteration of the Arabic name.The Alibaba Group consists of multiple e-commerce platforms. Alibaba is a business-to-business site that allows companies within China to more easily to sell to each other.There is also Taobao, a consumer-to-consumer website much like eBay, where individuals can buy and sell items. The…
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Bloomberg hires Halperin, Heilemann for new politics site

ORG XMIT: NYEA122 Actress Sarah Paulson poses with HBO Films president Len Amato, left and co-author Mark Halperin at the premiere of HBO Films' "Game Change" at the Ziegfeld Theatre on Wednesday, March 7, 2012 in New York. (AP Photo/Evan Agostini)(Photo: Evan Agostini AP)Bloomberg L.P., the financial news and data company, said Sunday it has hired veteran Washington journalists, Mark Halperin and John Heilemann, to create and oversee a political news and analysis website, the first major initiative in the company's efforts to boost its consumer media business.Their site, Bloomberg Politics, will run stories, commentary, polling and data analytics produced by a team of journalists in Washington, D.C. and New York and be the model for other consumer news properties the company will create in the coming months.Halperin and Heilemann, who co-authored Game Change, a best-seller chronicling the 2008 presidential election, and Double Down, a sequel about the 2012 election, will host a daily television show on Bloomberg's cable network. They also will lead political coverage across other Bloomberg platforms, including mobile, video, magazines, radio and events.In March, Justin Smith, who heads Bloomberg Media Group, a company division that includes television, radio, magazine, conferences and digital properties, announced plans to grow by seeking an audience beyond the finance industry. A key component of the strategy is to create better distribution plans -- new digital media brands, more video and radio stations, and aggressive international licensing of magazines -- for a vast amount of stories and content produced by its 2,400 journalists.While Bloomberg Politics is the first site to be announced under the new initiative, the subsequent sites that are in development will focus on the global business market, the company said."We have a new, aggressive vision for what our media products can be going forward and Bloomberg Politics is the…
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Estee Lauder looking good to investors

Estee Lauder Mad Men Collection(Photo: Richard Pierce Estee Lauder)Beauty may be only skin deep, but a good-looking financial quarter has Estee Lauder's stock soaring in early morning trading Friday.Shares of the beauty products giant -- whose familiar brands include Estee Lauder, Clinique, Bobbi Brown -- jumped more than 4% early Friday, up $3.19 to 75.42.The company said its fiscal third-quarter net income climbed 19%, mostly buoyed by strong growth in emerging markets."Sales came in higher than our expectations and we, again, exceeded our earnings per share forecast," said CEO Fabrizio Freda, in a statement. "Driving the growth: global demand, strength in emerging markets, accelerated growth in some developed markets and growth in the skin care line.Fabrizio called these "multiple engines" of growth across product categories.Spending on health, beauty and grooming is on the grown for men and women. Earlier this week, Procter & Gamble announced plans to roll out a pricey new razor for its Gillette brand. There's a clear sense among analysts and manufactures that beauty product spending has bounced back considerably since the recession.Estee Lauder's adjusted profit and revenue topped analysts' estimates, and the beauty products company lifted its full-year earnings forecast.For the three months ended March 31, Estee Lauder earned $213.2 million, or 54 cents per share, up from $178.8 million, or 45 cents per share, a year earlier.Removing a Venezuela-related charge and other items, earnings were 64 cents per share. Analysts, on average, expected earnings of 55 cents per share, according to a FactSet survey.Revenue for the New York company climbed 11% to $2.55 billion from $2.29 billion, led by increased sales of fragrances and skin care products. The year-ago shift in orders from some retailers gave a boost to results. Revenue increased 12% when stripping out the impact of foreign currency translation.The latest revenue results…
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Edmunds: Micromanaging can stifle employees

Gladys Edmunds, for USA TODAY 12:13 a.m. EDT April 30, 2014 Micromanaging can waste both the time and energy of the manager and ultimately can become debilitating to the employee.(Photo: Thinkstock)Hi Gladys: My wife and I often debate on how to deal with employees. I say that employees can often behave like children and I have to keep my eye on them and make certain that they do things the way I want things done. I am the head of our family construction company that was started more than 50 years ago by my late father. My wife works in the administrative office of the company and she accuses me of micromanaging. According to her, employees must learn to manage themselves and my job is to tell them what their duties are and I should step back and let them do their jobs. What do you think? — A. N.Self-management is important. Micromanaging can waste both the time and energy of the manager and ultimately can become debilitating to the employee. This combination can create a lot of tension in the workplace for all parties and will most likely spill over to your customers, clients and even vendors.When we talk about self-management, I believe that a person's strengths and weaknesses must be taken into account. How do you identify the strengths of your employee and how do you go about developing those strengths? Keep in mind that if we want our staff to self-manage then that has to be a part of our agenda during the hiring process.I am the first to admit that managing a company and its employees is not an easy task. And I have made my own share of blunders.I once managed my company like the proverbial mother hen. I watched everything my employees did and…
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Burger King brings back Subservient Chicken

Burger King Subservient Chicken(Photo: Burger King)Burger King's Subservient Chicken — one of the most popular viral ad campaigns of all time — is about to make a very high-profile second landing.If Burger King can find him, that is.The wacky guy in the chicken suit — who responded to very specific Web commands typed onto keyboards by consumers — took the Internet in a new, interactive direction and racked up more than a billion views way back in 2004.Now, in a bid to promote its new Chicken Big King sandwich, Burger King has re-launched the familiar website — subservientchicken.com — but with one important thing missing: the chicken.Burger King ran ads in 10 Sunday newspapers across the country this weekend posing this question: "Have you seen this chicken?"Burger King's name appears nowhere in the ads — a social media campaign posing the same question will follow.At 9 a.m. ET Wednesday, BK will post a 10-minute video that chronicles the chicken's life over the past decade, "highlighting the chicken's rise, fall and reinvention," says Eric Hirschhorn, chief marketing officer at Burger King.The move comes at a time that the $230 million fast-food industry is in a competitive tizzy. There are two major battle fronts. One is the breakfast business, with Taco Bell newly on board. The other is simply over who can create and sell the most chicken concoctions, as consumers increasingly lean toward chicken.Rivals sense a vulnerability at McDonald's, which has seen domestic sales soften a bit.The fast-food competition lately has brought some clever and feisty marketing. Taco Bell poked fun at McDonald's using real guys named Ronald McDonald. Now, Burger King is almost poking fun at itself — with the reintroduction of the Subservient Chicken."The chicken will help us launch the Big King in a big way," says Hirschhorn. Although…
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Tech Five: Amazon, Pandora sinking

Jeff Bezos, CEO and founder of Amazon, at the introduction of the new Amazon Kindle Fire HD and Kindle Paperwhite personal devices, in Santa Monica, Calif., in 2012. Investors don’t appear as enthusiastic about technology earnings this morning. Here’s a look at the five tech stocks to watch Friday: Amazon.[1] Shares of the online retailer are down more than 2% in pre-market trading after reporting a 32% jump in first-quarter net income[2]. Revenue increased 23% to $19.7 billion. Earlier this week, the company announced a long term deal with HBO to host several older television series including The Sopranos on Amazon Instant Video. Pandora.[3] The streaming music service’s stock plunged 5.5% off its first-quarter earnings results Thursday. Although Pandora trimmed quarterly losses compared to last year, CNet reports[4] its second quarter outlook fell short of Wall Street forecasts. Shares of Pandora have experienced a slump since early March, when reaching a 52-week high of $39.43. The stock closed Thursday just above $28. Microsoft.[5] The tech titan’s shares crept higher Friday after its third quarter results topped expectations[6]. The company generated more than $20 billion in revenue and profits of $5.7 billion. This was the first earnings call helmed by Satya Nadella, who was named Microsoft CEO in February. Nokia.[7] The company confirmed it has completed the sale of its Devices & Services division to Microsoft. The deal is worth $7.2 billion. The division makes the Lumia smartphone, which runs Microsoft’s Windows mobile operating system. Google.[8] Vic Gundotra, the head of social network Google+, announced he is departing the company[9] after 8 years. Gundotra is credited with building Google+, which topped 300 million monthly active users. Follow Brett Molina on Twitter: @bam923[10]. References^ Amazon. (www.usatoday.com)^ reporting a 32% jump in first-quarter net income (www.usatoday.com)^ Pandora. (www.usatoday.com)^ CNet reports (www.cnet.com)^ Microsoft. (www.usatoday.com)^…
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