United Technologies To Buy Goodrich In $18.5B deal

LOS ANGELES (AP) — Industrial conglomerate United Technologies Corp. is buying aerospace manufacturer Goodrich Corp. in a deal valued at $18.4 billion, including the assumption of $1.9 billion in debt.

The deal had been rumored for days, sending Goodrich's shares soaring. The stock was up more than 11 percent to $122 in aftermarket trading after word of the deal broke late Wednesday. United Technologies said it will pay $127.50 a share in cash for Goodrich, which is based in Charlotte, N.C., and has 27,000 employees.

The total deal value amounts to a 16 percent premium over Goodrich's closing stock price Wednesday of $109.49. It's a 47 percent premium above the stock's price last Thursday, before word of a pending deal first leaked. Hartford, Conn.-based United Technologies said it expects to finance the deal through a combination of debt and by issuing stock.

The equity component of the deal is expected to be about 25 percent of the transaction, the company said. United Technologies owns Carrier heating and cooling, Otis elevator, jet engine manufacturer Pratt & Whitney and other businesses. It said it anticipates that the combined companies will have annual sales of about $66 billion, as United Technologies strengthens its position in the aerospace and defense industries when it takes on Goodrich.

United Technology is forecasting 2011 revenue of $58 billion. Goodrich is expected to have 2011 revenue of around $8 billion. "Goodrich delivers on all of our acquisition criteria," Louis Chenevert, United Technologies' chairman and CEO, said in a statement.

Under the terms of the deal, United Technologies is forming an aerospace business unit that will be based in Charlotte and led by Goodrich Chairman, President and CEO Marshall Larsen. In a statement, Larsen said the deal delivers immediate cash value to Goodrich's shareholders at a premium that reflects the strength of its business.

Goodrich shares gained $12.51, or 11.4 percent, to $122 in aftermarket trading. They slipped $2.33, or 2.1 percent, during the regular trading session. United Technologies' shares fell 87 cents to $74 in aftermarket trading. The stock slipped $1.14 to end the regular session at $74.87.

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7 Ways Google Analytics Will Improve Your Small Business Website

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Analytics software is essential for any online business: it helps you understand ways to reach your audience and drive traffic to your site.

Google Analytics is one of the easiest ways to do this, and is especially helpful for the eternally busy small business owner or the on-the-go blogger.

It allows you to access both general statistics and minutiae in detailed, comprehensive reports. And of course, it includes all the basic specs, like how many visitors you're getting, and lets you refine your information based on date range.

Here are 7 things Google Analytics will tell you about your website:

1. The Browsers and Operating Systems Your Visitors Use

Whether they're coming from Internet Explorer or Chrome, Analytics will tell you. Your website's report will show a breakdown of which browsers are used and how frequently, This feature is useful because sometimes web features are incompatible with certain browsers and operating systems. If a significant chunk of your visitors are using a system that doesn't suit your website, it might be time for you to troubleshoot. Second, browser choice says a lot about your visitor base. If most of them are using a boilerplate program, like Internet Explorer or Safari, your site should be extra user-friendly and easy to navigate. Newer browsers with more bells and whistles, like Chrome, signal net-savviness.

2. What, Specifically, Isn't Keeping People Interested

It's good to know where your visitors are flocking, but it's perhaps more important to know which page of your website they're viewing when they click away to another site. Funneling resources to features that aren't captivating users is clearly not a smart business move, and Google Analytics can help you avoid making that mistake. By showing you the Top Exit Pages of your website, the program shows you the frequency at which web visitors jump ship navigate elsewhere, all broken down by the individual pages of your site. Based on that report, you can decide whether those ill-trafficked parts of your website should be scrapped or just retooled.

3. What Exactly Draws People To Your Site

Very likely, your Google Analytics Keywords report will list a collection of words and phrases familiar to your organization as the main drivers to your site. But the rate for each of those terms, especially when cross-referenced with the feature that shows how many new visitors are logging on versus returning ones, can be substantially useful in developing a marketing strategy. If you know what's pointing people to your site, you can work backward -- explore advertising opportunities with sites that focus on related topics or, if it makes sense, gear your homepage toward the subject matter that's drawing people in. If the point is to captivate visitors and keep them clicking around your site, this tool is a most valuable one.

4. How Many People Just Aren't Interested At All

Your site can have all the hits in the world, but if people aren't finding their way to your site and staying there to explore, it's tough to foster growth online. To help you better understand how many people are coming to your site to stay, Google Analytics offers you a Bounce Rate breakdown. So what's Bounce Rate? It's the proportion of your website's visitors that navigate away without clicking through to a second (or third, or fourth) page. True, you can tally that person's visit as a hit to your site. But there's no lasting power there, and a high Bounce Rate indicates your site isn't making a very strong impression. Check out the ultra-useful Bounce Rate among first-time visitors, perhaps the purest form of the metric because it deals with visitors who are ostensibly entirely unfamiliar with your website.

5. How Much People Are Poking Around

The Depth of Visit function sounds a little Big Brother-esque, but it's important for you to know how many pages people are viewing each time they head to your site. This feature shows the proportion of visitors that view one page, two pages, three pages, and so on. If typically people aren't looking at more than one or two pages per visit, it might be time for a redesign or at least a reorganization of content.

6. Whether People are Viewing On The Go

The ubiquitousness of smartphones and tablets means you need to keep up with that technology. If a significant portion of your website's visitors are finding you on their mobile devices, as Google Analytics can show you, you need to be sure your website is mobile-friendly and accessible. In cases where this feature shows you a sizable enough crop of visitors are seeking you out on such devices, it could be worth it for you to explore building a site specifically designed for use on them.

7. When You've Hit A Million Clicks

...or any other myriad benchmarks you've decided are important. From number of clicks and visitors to increases and decreases in traffic, the Alerts feature of Google Analytics provides you instant updates (which can be sent to your phone) to let you know when you've achieved them. This function could help you mark milestones, like when you finally reach that million-visitor mark, or realize you're in the danger zone, like when the number of unique visitors drops by half. 

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The World's Most Important Apple Blogger Is Pretty Impressed With Amazon's New Kindles (AAPL, AMZN)

The Kindle Fire’s slogan says it all: “All the content. Ultra-fast web browsing.” That’s the best sort of marketing message: simple, appealing, and true. Well, we’ll see how fast their new cloud-boosted Silk browser is in practice, but the content part is undeniably true. If you buy a Kindle Fire, you’ll have no trouble finding and buying books, movies, and apps. The deal for Amazon Prime members is good too: unlimited streaming of movies and TV shows. (Streaming, I believe, means it won’t work offline, but Amazon also sells and rents movies and TV shows for offline viewing.)

It’s all about the content, though. That’s the difference that other tablet makers missed. Motorola, Samsung, RIM — they seem to be chasing the iPad on specs, building the best tablet they can manage at the same starting price of around $500. But they have no clear message telling people what you can do with them.

Back in June, Harry McCracken laid out the key question to ask of any tablet: “Why should somebody buy this instead of an iPad?” The Kindle Fire is interesting because it’s the first one with a good answer: it’s much cheaper, Amazon offers a digital content ecosystem that rivals Apple’s (fewer apps, more books), and millions of people already use and enjoy Kindle hardware. The e-ink Kindles are to the Kindle Fire what the music-playing iPods were to the iPhone, and what the iPhone was to the iPad — traction in the mass market based on trust and loyalty.

Amazon built an alternative to the iPad, rather than a direct competitor. It’s a different market segment. As Steve Jobs explained back in 2010 at the introduction of the original iPad, there’s unexplored territory between smartphones and laptops.

Apple and Amazon are approaching this tablet territory from opposing sides. The iPad takes it on from the high end. It’s the best possible device in that price range from the world’s best maker of devices. The Kindle Fire takes it on from the low end. The iPad is a credible laptop replacement for many people — and with iCloud and another year or two of hardware improvements, that’s going to be true for more and more people. The Kindle Fire is a laptop replacement for almost no one. It’s a peripheral, not a second computer — and it’s priced accordingly. You can get a Kindle Fire and a new top-of-the-line e-ink Kindle Touch for less than the price of an iPad. It’s a very different take.

The iPad and Kindle Fire are emblematic of their makers. Apple’s primary business is selling devices for a healthy profit, and they back that up with a side business of selling digital content for those devices. Amazon’s primary business is as a retailer, including as a retailer of digital content. They back that up with a side business of low-cost digital devices that are optimized for on-the-fly purchasing of anything and everything Amazon sells. The Kindles are to Amazon what the printed catalog was to Sears a century ago.

Attack from a position of strength. Build on your previous successes. That’s what Apple does. That’s what Amazon is doing here. The other guys — the Samsungs, HTCs, Motorolas, RIMs — can’t match Apple’s hardware design, don’t even try to match Apple in terms of original and differentiated software, and struggle to match Apple’s prices because they don’t have the economy of scale advantages Apple does. Those guys can’t match Amazon either, because they have no content to sell. Amazon can give away the razor because they’re already in the business of selling blades. The other guys don’t even have blades to sell.

I doubt there’s any profit whatsoever in a $199 Kindle Fire. The same goes for all Kindle hardware. And with the Fire in particular, I wouldn’t be surprised if Amazon is taking a small per-unit loss, confident that they’ll make it up with the sale of content. With the iPod a decade ago, prices did come down over time, but for the most part Apple concentrated on making rapid improvements to the device at the same price points, year-over-year. With the Kindle, Amazon has improved the hardware each year, but their concentration has been on reducing the price.

Jeff Bezos comes right out and says it in the Kindle-promoting letter to customers now on the Amazon homepage:1

There are two types of companies: those that work hard to charge customers more, and those that work hard to charge customers less. Both approaches can work. We are firmly in the second camp.

Like I said, Apple tends to keep price points the same and improve the device year-over-year. It’s more like Apple works hard to keep charging customers the same amount, but Bezos’s point rings true.

Last year Amazon tried something new, with an option to pay less for a Kindle that displays “special offers”. They’re ads, but they never interrupt reading — they’re only shown on the home screen and screensaver. Today, they’ve flipped the marketing around. Instead of paying less in exchange for looking at these ads, the “special offer” Kindles are now the default, and you can pay a $30-50 premium for a Kindle without them. ($30 on the low-end non-Touch model, $40 for Touch, $50 (!) for Kindle Keyboard.)

Amazon has always catered to price-sensitive customers, and I suspect they know their audience well. And Amazon is a data-driven company. I’ll bet the $40 premium is based on how much money they expect to make from the ads they sell and products they promote via the special offers. Last year the special offer Kindle was only $25 less; the data must show that the special offers are worth more than $25 per Kindle to Amazon.

I got a Kindle about a year ago, and I use it much more than I expected to. I like reading on e-ink. I look at glowing backlit displays all day, every day. I’ve been obsessed with computers my whole life. I love glowing screens. When I’m away from my computer for days, I’m happy when I sit down in front of it. There’s a certain feeling I get when I use any computer — a Mac, an iPhone, an iPad, my TiVo, even an ATM or the credit card slider at the supermarket. Cool, a computer.

I read books on my iPad, too, but reading on the iPad doesn’t have the same mental-mode-switching effect. When I read with the iPad I feel like I’m doing the same basic thing I do as I read on my Mac all day long — just with a different device. It’s more pleasant, in many ways, and definitely more personal. But I’m still in the same mental mode — fully aware that anything and everything is just a few taps and few seconds away.

E-ink feels peaceful to me. The Kindle doesn’t feel like a computer. It feels — not to the touch but to the eyes and mind — like a crudely-typeset and slightly smudgily-printed paper book. That’s a good thing. Battery life is un-computer-like as well: Amazon measures e-ink Kindle battery life in months, and they’re not joking. It’s a surprise when the Kindle actually needs a charge. I was a doubter until I owned one, but now I’m convinced that e-ink readers have tremendous value even in the post-iPad world.

The worst thing about my year-old Kindle is, well, everything other than the screen. All the buttons are crap, and a huge chunk of the front of the device is devoted to an unpleasant keyboard that I almost never use. The buttons that really matter, the ones for page turning, aren’t good. They’re too small and have a bad feel.

My seven-year-old son refuses to believe me that my Kindle is not broken, because its screen doesn’t respond to touches. He’s not far off base. If I go a week or longer without using it, when I pick it up, I often find myself swiping to turn the first page.

The new Kindle Touch seems exactly right. No more needless keyboard. No more junky buttons for page-turning. A touchscreen. Everything good about last year’s Kindle remains, everything bad about last year’s Kindle is gone. And it’s an ounce lighter and the price has gone down.

I don’t get the new just-plain-Kindle, though. Yes, it’s $20 cheaper than the Wi-Fi Kindle Touch ($79 vs. $99) but is $20 a big enough difference to justify the extra complexity of the product line? I’m not sure why the keyboard models remain, either, unless there really are some people who use the keyboard frequently. It’d be a much clearer product line with just two models: Kindle Touch for e-ink, Kindle Fire for tablet computing.

The new just-plain Kindle is available now, worldwide. But the Kindle Fire and Kindle Touch aren’t scheduled to ship until mid-to-late-November. Why announce now, 45 days ahead? Easy: because people are already making holiday gift decisions.

Production must be tight on the Fire and Touch models, as well, because they’re only being offered in the U.S. for now. The only new Kindle for sale outside the U.S. is the $79 non-touch model.

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SHUTDOWN SHOWDOWN: House Passes Funding Bill Deemed 'Dead On Arrival' In Senate

An already contentious debate over funding the government after September 30 intensified Thursday as Republicans amended their bill to be more amenable to GOP lawmakers and Democrats pledged to oppose it.

Without action by the start of the new fiscal year, the government will shut down on October 1.

House Republicans passed a continuing resolution early Friday morning on a mostly partly-line vote, though the bill drew immediate criticism from Senate Democrats over its spending cut offsets for new federal disaster aid.

“The bill the House will vote on tonight is not an honest effort at compromise," Senate Majority Leader Harry Reid said, noting that the bill is dead on arrival in the Senate. "It fails to provide the relief that our fellow Americans need as they struggle to rebuild their lives in the wake of floods, wildfires and hurricanes, and it will be rejected by the Senate."

The House added $100 million in cuts to the federal program that made the loan to the now-bankrupt solar company, Solyndra, in order to win over enough GOP votes to pass over Democratic opposition. An earlier version fo the bill failed to pass on Wednesday, dealing a blow to tha Republican leadership.

The measure includes $3.65 billion for the Federal Emergency Management Agency, less than the $6.9 requested by the Obama administration and demanded by Democrats.

Michael Steel, a spokesman for Speaker of the House John Boehner, called on the Senate to pass the bill in its current form, noting FEMA could run out of disaster relief money as soon as Monday.

“The Senate should pass this bill immediately, and the President should sign it, because any political games will delay FEMA money that suffering American families desperately need.”

Reid said that the Senate was willing to postpone its vacation to reach a compromise — a prospect House Majority Leader Eric Cantor ruled out early Friday morning — setting the stage for a high-stakes game of political chicken with a week until the deadline.

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10 Stunning European Soccer Arenas That Put American Stadiums To Shame

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Earlier this month, the ultra-modern Juventus Stadium opened in Turin.

It is just the latest in a line of unique, boundary-pushing European soccer arenas that have been built in recent years.

These stadiums are consistently more interesting than their gray, bland American counterparts.

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German Finance Minister: We're Giving $283 Billion To The EFSF And "That's It. Finished."

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German Finance Minister Wolfgang Schaeuble ruled out a larger German contribution to the European Financial Stability Facility in an interview published Saturday, according to Sky News.

"The European Financial Stability Facility has a ceiling of 440 billion euros, 211 billion of which is down to Germany. And that is it. Finished,'" he told magazine Super-Illu.

This is the latest in a string of comments from Schaeuble that have wrecked hopes for an EFSF capable of recapitalizing European banks or taking on larger debts from peripheral Europe.

Dow Jones also reports that Schaeuble ruled out leveraging the EFSF in a meeting with the Free Democrats (FDP) on Tuesday.

Despite Schaeuble's criticism of expanding the fund, his tune could change after a meeting October 9 between German Chancellor Angela Merkel and French President Nicolas Sarkozy. Reports say the meeting will be focused on speeding the economic integration of Europe, a proposal German voters are likely to reject.

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Rogue Traders: Just Be Glad You Don't Live In China

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The accused UBS rogue trader Kweku Abodoli should be thankful he doesn't live in China.

Abodoli was arrested Thursday by London police for causing the embattled Swiss bank to lose $2 billion because of his unauthorized trades.

Past instances involving rogue traders in the U.K. suggest the worst possible scenarios will be he'll likely face prison time like rogue trader from Barings Nick Leeson.

Leeson, however, was imprisoned in Singapore.

The other scenario is he could also possibly be banned from the industry by the Financial Services Authority just like rogue trader Jonathan Bunn (Download PDF).

So yes in a since his life is ruined, but at least he has a life.

A Chinese rogue securities trader wasn't so lucky.

Yang Yanming, a rogue securities trader, was executed in 2009 after embezzling 65 million yuan ($9.52 million) and taking the secret of the whereabouts of the misappropriated funds to his grave. 

He was the first finance executive in the securities industry to be executed in China.

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Here's Everything I Wish I'd Known When I Started My Company At 16

Here's Everything I Wish I'd Known When I Started My Company At 16 Login With Facebook | Login With Twitter | Login | Register War Room Contributors Home Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics EuropeData Misc. Your Money Video Latest Your News War Room Home Management Hiring & Firing Founders' Corner Instant MBA Document Center HiveTapePRContributors Follow us on Facebook and get updates from War Room Contributors posted directly to your news feed 

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Email Zip Here's Everything I Wish I'd Known When I Started My Company At 16 Vanessa Van Petten, Young Entrepreneur Council | Sep. 24, 2011, 9:36 AM | 118 | A A A   xEmail Article From To Email Sent!You have successfully emailed the post.

Vanessa Van Petten URL Vanessa Van Petten is the CEO and author of Science of People.

Recent PostsThe Scientifically-Proven Method For Getting People To Say "Yes" How The Founders of College Hunks Hauling Junk Overcame the Inexperience Barrier How to Make the Perfect Pitch How to Diffuse an Angry Customer I started my company as a naive 16-year-old. There are so many things I wish I had known.

Stray From the Plan

When I started RadicalParenting.com I was constantly told, "Stick to your big goal" or "Full speed ahead." Having an end goal is great, but I didn't realize that being flexible and being open to unexpected; opportunities were equally important. For example, as a writer, I wanted to offer books and blog posts to our audience. I was given the opportunity to do webinars and decided to give it a shot, even though it wasn't in the plan. The webinars turned out to be hugely successful and taught me that video as well as articles are the a powerful combination. Having a plan is great, but being willing to changing directions when new opportunities arise can really help boost your business.

Offer Before You Ask

As a newbie to networking, my approach was all wrong. I went to conferences with a sack full of business cards and asked everyone what they could do for me. I quickly learned that I even though I was meeting people, there was nothing substantial about our interactions. We would trade emails and then never converse again or my blunt ask would turn them off. After a few failed conferences, I learned that if I found out as much as I could about their business I could target the specific ways we could help each other. So, when you go to a conference find out their business and then think of ways that you can both leverage each others audiences, specialties or connections. Not only will they remember you, but your business will benefit as well.

Keep It Simple

Starting a company is not as hard as maintaining a company. The first few steps of starting my company like building the website, getting incorporated and writing my business plan were challenging. However, I believed everything would get easier from there -- boy was I wrong. Once I built our website I realized I had to maintain it, add content to it and optimize it if anyone other than my parents were going to find it. Keeping the business growing as a harder challenge than I thought. I wish I had known that making company processes, products and systems simple from the start would make running the company less expensive and complicated later. If you are starting a company or a new project think about both how to do it and how to maintain it.

Vanessa Van Petten specializes in social and emotional intelligence research and development. The focus of her company, The Science of People, is to research youth behavior and help adults keep up with young adults. 

The Young Entrepreneur Council (Y.E.C.) is an invite-only nonprofit organization comprised of the country's most promising young entrepreneurs. The Y.E.C promotes entrepreneurship as a solution to youth unemployment and underemployment and provides its members with access to tools, mentorship, and resources that support each stage of a business's development and growth.

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