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Etsy crafts a $267 million IPO

Written By limadu on Kamis, 16 April 2015 | 10.20

Etsy is now the largest certified socially-responsible company, or B Corporation, to go public in the U.S. It will begin trading Thursday on the Nasdaq under the ticker symbol "ETSY." The online marketplace is a place for people to buy and sell crafts and other handmade and vintage items.

So far, investors don't seem overly worried that Etsy's focus on long-term sustainability will clash with Wall Street's focus on short-term profitability.

Etsy priced its initial public offering at $16 a share on Wednesday evening -- the high end of its expected range. The deal raised a total of $267 million. Based in Brooklyn, the company is now worth nearly $1.8 billion.

Can it scale? The biggest question facing Etsy is how the e-commerce company can ramp up in size while maintaining its identity as a place where customers can find unique goods that are not mass produced. Losing that niche identity could do real harm to Etsy's business, which has thrived thanks in part to its fiercely loyal base of buyers and sellers.

Investors need to assess "the confidence that this company can scale without going to the dark side of full commercialism," said Kathleen Smith, a principal at Renaissance Capital, which is a manager of IPO exchange-traded funds, or ETFs.

Related: Can a do-good company jive with Wall Street?

Competing interests? In its IPO prospectus, Etsy acknowledged a key risk facing potential investors is that the company's "focus on long-term sustainability may negatively influence our short-or medium-term financial performance."

In other words, Etsy may want to do things that won't please investors who mostly care about the stock price. For example, Etsy said it could invest in alternative forms of shipping that reduce the impact on the environment but are most expensive.

"We investors want sustainable results," said Smith.

Etsy's ability to manage these competing interests will be key.

"Public companies are held to a different standard, and Etsy needs to be prepared for public market scrutiny, regardless of how artisanal they are," said James Gellert, CEO of Rapid Ratings.

Related: Starbucks should join Etsy as a B Corporation

Crafting a profit would be a start: That scrutiny will eventually call for a path to profitability, something that's been missing from the online marketplace. Etsy has posted net losses in each of the past three years.

"Considering the company's lack of profitability and capital structure inefficiency, Etsy has a long way to go before they're a long-term sustainable business," said Gellert.

Related: GoDaddy races onto Wall Street with IPO

Is Etsy a bargain? However, its revenue has been on the rise amid the site's growing popularity. Sales jumped 56% last year to $195.6 million.

Smith said Etsy's IPO range doesn't look expensive, at least compared with the sales multiples placed on other fast-growing e-commerce companies that have commission models such as eBay (EBAY, Tech30), Alibaba (BABA, Tech30), GrubHub (GRUB) and Yelp (YELP).

"It's possible this (stock) could have a real cult following. They already have a cult following as a community," said Smith.

Etsy has already shown a willingness to do things differently than Wall Street is used to. It created a program that gives vendors and other mom-and-pop investors the chance to buy as much as $2,500 in stock before its public debut. Normally those early purchases are exclusive to rich investors.

"That's caused some angst among institutional investors," said Smith.

It probably won't be the last thing Etsy does that makes Wall Street nervous.

Related: Get the balloons ready for Party City's IPO

CNNMoney (New York) April 15, 2015: 6:48 PM ET

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GM shielded from ignition lawsuits by bankruptcy rule

The decision by Federal Bankruptcy Court Judge Robert Gerber upholds GM's so-called bankruptcy shield. GM acquired the shield as part of its bankruptcy reorganization when a new company was created in 2009, referred to in court as "New GM."

"Judge Gerber properly concluded that claims based on Old GM's conduct are barred," the automaker said in a statement.

The shield had been challenged both by some personal injury attorneys as well as lawyers suing on behalf of owners of the recalled cars to recover damages for the diminished value of the recalled cars.

The decision could prevent lawsuits that would have cost "New GM" billions of dollars.

"This ruling padlocks the courthouse doors," said Robert Hilliard, one of the attorneys suing GM. "Hundreds of victims and their families will go to bed tonight forever deprived of justice. GM, bathing in billions may now turn its back on the dead and injured, worry free."

The decision left the possibility for some suits to proceed if the plaintiffs can prove misdeeds by the company after the 2009 bankruptcy, "so long as those plaintiffs' claims do not in any way rely on any acts or conduct by old GM."

The old and new version of the tiny part that is at the center of the GM recall.

GM (GM) shares were up about 1% in after-hours trading following the decision.

Problems with millions of cars with faulty ignition switches, most of them built before the bankruptcy, have been tied to at least 84 deaths. It is not immediately clear how many of the accidents occurred after the bankruptcy. Accidents that occurred in the years following 2009 were not protected by the shield.

GM has admitted that its employees were wrong not to order a recall of the cars about a decade before the 2014 recall.

The decision will not stop GM from paying an estimated $400 million to victims and their family members. But GM set up a compensation fund voluntarily without waiving the legal protections it acquired as part of the bankruptcy process on pre-2009 accidents.

Related: Recall victim - GM shouldn't get a tax break from settlement

Related: Barra's recall apology not enough, families say

Related: GM settles second suit with recall whistle-blower

CNNMoney (New York) April 15, 2015: 7:03 PM ET

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Bubble trouble: China's stock market looks too hot

Chinese equities are officially on fire. The Shanghai Composite has skyrocketed 78% since just before Halloween. It recently crested the 4,000 level for the first time since the financial crisis.

Yet stocks in China have achieved red-hot status just as the country's economy is going through a cooling off period. Growth slowed to the weakest pace since 2009.

In other words, exuberance for Chinese stocks isn't being backed up by fundamentals. Instead, the market is being carried higher by various forms of government stimulus and investor frenzy.

All of this raises the question: Is China in the midst of a bubble? And if it is, what should American investors do?

"Certainly a bubble exists," said Ankur Patel, chief investment officer at R-Squared Macro Management.

Rather than enjoy the ride up or try to profit from its eventual popping, Patel said the prudent move for U.S. retail investors is to stay away from the Chinese market altogether.

"The problem with any bubble is if you try to bet against it, bubbles can become even more irrational. The herd mentality can essentially run investors over," he said.

Related: China stocks are on an incredible mystery run

Equity euphoria hits China: There are growing signs of speculative fervor in China.

In recent years, people in China -- who tend to save significantly more than their Western counterparts -- sunk their excess savings into the real estate market.

Now that the bubble in housing is deflating, they are latching onto the skyrocketing stock market. Investors opened 4.8 million new stock trading accounts in March and then another million more in early April, according to the Financial Times.

"There's no question there's a lot of domestic euphoria about equities within China," said Albert Brenner, director of asset allocation strategy at People's United Wealth Management.

Several Chinese retail investors polled by CNNMoney said they trade stocks frequently -- up to several times a day -- in part to have fun. One Shanghai woman, who didn't give her full name, said she's not worried about trading expenses hurting performance because "fees tend to drop during bullish markets anyway."

Non-Chinese investors are also taking notice. Exchange-traded funds that track China -- the best way for U.S. investors to play China -- have soared. The iShares MSCI China ETF (MCHI) and SPDR S&P China ETF (GXC) are both up over 20% so far this year.

Related: China's stock market finally opens up to foreigners. Now what?

Liquidity-fueled bubble? Hoping to avoid a so-called "hard landing," China's central bank is pumping liquidity into the market by cutting rates. That's good for risky assets like stocks, but liquidity-driven moves are susceptible to bubbles.

Liquidity is also being pumped by the Hong-Kong Shanghai Stock Connect Program, which allows investors to buy Shanghai stocks through Hong Kong -- and vice versa. Not only is fresh foreign capital flowing onto Mainland China for the first time, but excess liquidity inside China is flooding into Hong Kong.

Related: Chinese investors trade way more than Americans

Goldman Sachs isn't worried: Of course, not everyone believes it's time to call China's rapid rise a bubble.

Timothy Moe, co-head of macro research in Asia at Goldman Sachs, told CNBC the market "certainly is getting frothy" amid "very frenetic retail activity."

"Is that a bubble that will crash the system? The answer is not yet," Moe said.

In other words, just because Chinese stocks look very speculative doesn't mean the party has to end today.

One possibility, Patel said, is for the bubble to end "benignly" if China's growth regains momentum, justifying current valuations. He said that looks unlikely and there's a better chance the opposite will occur.

Another possible outcome is the stock market keeps roaring ahead before imploding, like it did the last time.

"To be clear, what's underway in China is an out-and-out bubble, but there's plenty of money to be made riding bubbles up a bit," Bespoke Investment Group wrote in a note to clients. The firm said it "may be worthwhile to consider a small position" in Chinese ETFs like the SPDR S&P China ETF (GXC).

Just remember: Bubbles are notoriously difficult to time, even for sophisticated investors.

Related: This man bet $100K there's a startup bubble

Related: Investors are lining up to get into Iran

Related: How to invest $1,00

CNNMoney (New York) April 15, 2015: 10:10 PM ET

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The surprising backstory of Tinder for pot smokers

Written By limadu on Rabu, 15 April 2015 | 10.20

That's what co-founder Todd Mitchem hopes to create with High There -- "a social connection app for cannabis consumers."

Users can look for dates or simply other like-minded people. But for those used to dating apps like Tinder or OkCupid, the questions will probably be a bit unfamiliar.

Instead of asking for your hobbies or education, High There asks if you prefer smoking or edibles and if you're high energy or low energy. While these personality traits might seem frivolous, Mitchem said they're important for finding other users that you're compatible with.

Related: 10 alternatives to Tinder

When it launched in February, the free app was only available to users in states where marijuana use was medicinally or recreationally permitted. Now, however, it's been approved by the iOS and Android app stores to become the first global social network dedicated to cannabis enthusiasts. Mitchem said he's about to close the first round of funding for an undisclosed amount.

"We're trying to build a community of people that feel connected to each other with a common bond," he said.

But for Mitchem, High There is more than just a social network -- it's personal. He was inspired by his own life experience.

In 2009, Todd's mother was diagnosed with cancer for the second time. After treatment, her doctors told her she only had six months to live. It wasn't legal where she lived (Mitchem chose not to disclose specifics), one of her nurses recommended she get her hands on some marijuana to help with her lack of appetite and to ease her pain.

She did, and she began to grow small amounts of marijuana in her attic for personal use. When she told her neighbor, it ended their relationship.

"That's not OK," says Mitchem. He hopes High There can be a place for people to share their stories and help eliminate the stigma around the drug.

Six years later, Todd's mother is still alive. And while she isn't on High There yet, he said she plans to join.

Related: Pot startups cash in on wave of legalization

CNNMoney (New York) April 14, 2015: 10:02 PM ET

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How Grumpy Cat makes her millions

Grumpy Cat is part of an elite group of furry animals around the globe who have shot to Internet fame in recent years. These fuzzy creatures sign book and movie deals, do photo shoots, and act as "spokesanimals" for ad campaigns -- netting piles of cash for their owners.

Experts say the phenomenon is made possible by the rise of social media, which is changing how we interact with lovably fuzzy creatures.

Social media "adds a personal connection, so if you're interested in a character like Grumpy Cat, then either people will send you more anecdotes or videos, or you can go and seek it out," said Karen North, a social media expert and professor at the University of Southern California.

It's "a way of getting entertainment in the hands of audience members who become evangelists of the content, and spread it wider than the originator ever dreamed," North said.

Related: China spends $1.5 billion pampering pets

Owners can monetize their pets via multiple sources -- product endorsements, licensing agreements and even original merchandise.

It all starts with building a massive following online. Viral pet owners can also consider registering a trademark, whether it's a name or a distinctive feature, to help protect against any copycats, said Marty Brochstein of the International Licensing Industry Merchandisers' Association.

"Is there some specific recognizable aspect to it that makes it other than just a cat?" Brochstein said. "In terms of bringing in business, it's just like any other celebrity -- you have an agent who is either fielding offers or ferreting out business opportunities."

Grumpy Cat, for example, has an easily identifiable sourpuss face -- the product of an underbite and feline dwarfism, a genetic condition. The look has entranced millions of web followers, leading to Grumpy Cat designer apparel, a New York Times best-selling book, a movie and a coffee brand -- Grumppuccino.

The licensing and merchandising deals have translated to buckets of cash for Grumpy Cat's owner, Tabatha Bundesen.

"Grumpy Cat is making millions!," said North. "It's shocking!" Bundesen didn't respond to requests for comment.

And yes, Grumpy Cat has a manager, as does Hong Kong's own celebrity cat, Brother Cream, a chubby white and tan feline who lives in a local convenience store. Brother Cream has thousands of social media followers, and fans who visit from around the globe want to know about everything from his bowel movements to public appearance schedule, owner Ko Chee-Shing said.

Like Grumpy Cat, Brother Cream has done commercials or promotions for major brands such as L'Occitane, Shu Uemura, Microsoft (MSFT, Tech30) Xbox and Nikon (NINOY). Ads featuring his image are plastered across the city's public buses, airport baggage carts and subway stations. Groupies can buy handbags, stickers, books and folders with his image.

Related: Big dogs suffer as Hong Kong status symbols

Brother Cream has been paid hundreds of thousands of dollars for his work, padding out a stellar five-page resume. So much money has flooded in that Ko started a non-profit to dole funds out for charitable purposes, including animal rescue and food aid programs.

His fame has even helped bring more customers to Ko's shop, one of the few remaining independent convenience stores in a market dominated by international chains 7-Eleven and Circle K.

Brother Cream, who initially did nuzzle a hello to this reporter, later declined to answer any questions in favor of a nap -- in true celebrity fashion.

Related: Doggie dates have come to Tinder!

CNNMoney (Hong Kong) April 14, 2015: 8:54 PM ET

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China's economic growth drops to slowest pace since 2009

Gross domestic product expanded by 7% in the first three months of 2015, compared to the same period last year, according to China's National Bureau of Statistics.

While that matches the expectations of economists surveyed by CNNMoney, it is quite a decline from the final quarter of 2014, when growth came in at 7.3%.

Moderate economic expansion isn't all bad news, said Andrew Colquhoun of Fitch Ratings. "It means the economy is adjusting to a more sustainable path -- we'd expect the economy to slow as it re-balances."

The strength of China's economy is often difficult to judge at the beginning of the year because of the Lunar New Year holiday. But recent data on manufacturing activity and exports have disappointed, and analysts expect slower growth going forward.

The downturn is putting additional pressure on the central government as it works to transition China to a consumption-led economy. Policymakers are also trying to avoid a sudden slowdown in economic growth, which could cause unemployment to surge and consumption to lag.

Experts say a downturn in China's real estate sector is the single biggest risk to the economy, which relies on the industry to boost growth and for new jobs. Other challenges include ballooning government and corporate debt.

Related: Economists are really worried about China's massive property sector

China's foreign exchange reserves have also fallen, a sign that speculative capital is leaving the country as growth concerns intensify.

Colquhoun said the People's Bank of China will need to respond to weakening growth with further monetary easing. The central bank already cut interest rates twice since late last year in an attempt to boost investment and shore up the economy.

GDP growth in China remains the most comprehensive gauge of the country's economic health. China averaged economic expansion of around 10% a year over the past three decades, making it the world's second-largest economy.

Economists forecast 6.8% GDP growth for this year, and even slower expansion at 6.5% in 2016, according to the CNNMoney survey. China recorded GDP growth of 7.4% in 2014, the worst in 24 years.

Despite economic stability concerns, Chinese stock markets have continued to surge to astonishing highs. While stocks swung between gains and losses on Wednesday, the benchmark Shanghai Composite is still up 28% this year. The Shenzhen Composite has spiked over 50% year to date, making it the world's top-performing stock market.

Related: China's factories slump amid growth concerns

CNNMoney (Hong Kong) April 14, 2015: 11:18 PM ET

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Hillary channels Elizabeth Warren in campaign bid

Written By limadu on Selasa, 14 April 2015 | 10.20

In her video campaign announcement Sunday, Hillary Clinton unveiled what's expected to be the central theme of her presidential bid: Serving as a champion for "Everyday Americans."

"Americans have fought their way back from tough economic times, but the deck is still stacked in favor of those at the top," she said in the short video. "Everyday Americans need a champion and I want to be that champion. So you can do more than just get by. You can get ahead and stay ahead."

Long considered a centrist, Clinton sounded strikingly similar to Warren, the outspoken darling of the left wing, which has been pushing the Massachusetts senator to run for the 2016 nomination. (So far, she has declined.) Warren's main talking point: Give every American a fighting chance.

"America's middle class is under attack. It's in trouble because the game is deliberately rigged," Warren wrote in her memoir, A Fighting Chance. "I am determined -- fiercely determined -- to do everything I can to help us once again be the America that creates opportunities for anyone who works hard and plays by the rules."

Related: Elizabeth Warren: 8 ways to restore the middle class

Warren's proposals to boost middle class prosperity include: Raising the minimum wage, supporting bargaining rights for workers, ensuring workers get overtime pay and creating good paying jobs through investments in roads, bridges, power grids, education and research, among other things.

In an election where every candidate is focused on the middle class, Clinton may have to shift left to appeal to the Democratic base. She and her advisers have been speaking to income inequality and economic mobility gurus, including Joseph Stiglitz of Columbia University and Raj Chetty of Harvard, according to media reports.

Stiglitz, a Nobel-prize winning economist, has argued that income inequality has exploded over the past 30 years. The widening gap endangers economic growth and makes it harder for people to achieve the American Dream.

Related: Stiglitz on how to fix the income gap

Chetty, on the other hand, focuses on economic mobility. His work has found that residents in communities with higher rates of segregation and income inequality, as well as fewer two-parent families, are less likely to climb the economic ladder.

Clinton's new top talking point is increasing opportunity for all Americans. She reiterated this in a new epilogue to the paperback versions of her book, Hard Choices, excerpted on Huffington Post on Friday. In it, she noted the advantages that her first grandchild, Charlotte, will have.

"Too few of the children born in the United States and around the world today will grow up with the same opportunities as Charlotte," she wrote. "I'm more convinced than ever that our future in the 21st century depends on our ability to ensure that a child born in the hills of Appalachia or the Mississippi Delta or the Rio Grande Valley grows up with the same shot at success that Charlotte will."

But some diehard liberal Democrats, including Warren, want to hear more on how Clinton plans to reduce inequality. So far, they say Clinton's message is long on rhetoric and short on specific policies.

A Clinton spokesman did not respond to a request for comment.

Related: NYC's Bill de Blasio not ready to endorse Hillary Clinton yet

New York City Mayor Bill de Blasio, who managed Clinton's Senate campaign in 2000, made waves when he said Sunday that he is holding off on endorsing Clinton until he learns more about her vision.

Warren, meanwhile, is also waiting for more details.

Asked in February by the Reverend Al Sharpton on MSNBC whether Clinton would be a "progressive warrior," Warren said "that's what we've got to see."

"I want to hear what she wants to run on and what she says she wants to do," Warren said.

Related: Republican? Or Elizabeth Warren? Who said it?

CNNMoney (New York) April 13, 2015: 6:18 PM ET

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Will.i.am is selling sheets made from old Coke bottles

Will.i.am is partnering with Coke and W Hotels on a line of bed sheets partially made from old plastic bottles.

It's not that he's fallen on hard times in the music biz, it's more that he's into recycling. So the Black Eyed Peas frontman has partnered with Coke (KO) and W Hotels on a line of bedding made with at least 30% recycled plastic.

The sheets will soon be on all W hotel beds worldwide. They don't look or feel any different than the hotel's current sheets -- the plastic is used to make polyester and simply replaces the virgin polyester currently used in the blended fabric. Each king-sized sheet will contain about 31 plastic bottles.

For W, the move was about being more eco-friendly as well as saving money. The new sheets are more durable and can be washed up to 200 times before wearing out (compared to about 100 washes now).

Related: L.A. to control its street lights with a single laptop

The sheets will also be available for purchase at the W's store, though they aren't cheap -- a set starts at $207.

They'll carry both the W and Ekocycle brand. Ekocycle is a broader partnership between Will.i.am and Coke to use recycled content in more products.

Will.i.am said he got the idea for Ekocycle back in 2008 after attending conferences on corporate social responsibility and hearing about how firms want to cut waste.

"A lot of times the companies say what they want to do, but not how they're going to do it," he said. "Or they do it, but they don't tell anyone."

Related: The activist nun reforming for-profit prisons

So he pitched Coke with an idea to market recycled plastic to other firms that wanted to green their products. Coke bit, and Ekocycle launched in 2012. It now has its name on over 150 products including shoes, luggage, bicycles and chairs. Companies that want to use the Ekocycle brand pay a royalty, which is shared between Coke and Will.i.am.

"Our resources are not forever," Will.i.am said. "Sustainability is going to be something we're all talking about."

If all this sounds like a bunch of people making money while burnishing their green credentials, it is. But it's also important for those with branding experience to create a market for recycled material. This is especially true now that the cost of oil -- which is virgin plastic's main ingredient -- is so low. Cheap virgin plastic puts recycled plastic at a disadvantage.

"Recycling is more than just putting stuff in the right bin," said Darby Hoover, a resource specialist at the Natural Resources Defense Council. "And it's good that Coke is taking responsibility for its bottles."

CNNMoney (New York) April 13, 2015: 6:25 PM ET

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High-skilled visa applications hit record high

These locations saw the most H-1B visa recipients in 2013, the only year for which data is currently available.

But it's getting tougher to "win" a work visa each year.

This year, 233,000 foreigners applied for the H-1B, the most common visa for high-skilled foreign workers. That's up significantly from 2014 (172,500 applications) and nearly double the applicants from two years ago (124,000).

"I'm not surprised by how high the number is," said immigration lawyer Tahmina Watson of Watson Immigration Law. "The world has changed and the law has not kept up with the world."

The U.S. Citizenship and Immigration Services will grant just 85,000 H-1B visas (20,000 of which are reserved for master's degree holders), which it selected on Monday via a lottery process. The unlucky applicants will get the $325 filing fee back.

Watson says the number of applicants is proof that Congress needs to act.

Proposed bills like I-Squared Act would lift the quota to 195,000 visas annually. There is also a proposed bill for a Startup Visa. If passed, this would transfer foreign entrepreneurs currently in the H-1B pool into a separate category.

In the meantime, states like Massachusetts and Colorado have introduced programs to help applicants get around the H-1B cap.

"Businesses really need to fill positions," said Watson, "... and people will not be able to get their dream jobs."

Related: These cities have the most high-skilled foreigners

Related: The next Google is one visa away from leaving the U.S.

CNNMoney (New York) April 13, 2015: 6:28 PM ET

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Donald Trump: I don't want T-Mobile in my hotels

Written By limadu on Senin, 13 April 2015 | 10.20

The Donald and the CEO of T-Mobile (TMUS) became embroiled in an epic Twitter battle this weekend, in which Trump said he wanted T-Mobile out of his establishments.

"T-Mobile service is terrible! Why can't you do something to improve it for your customers. I don't want it in my buildings," Trump tweeted Saturday at John Legere, T-Mobile's chief executive and no Twitter slouch himself.

The candid and brash Legere, who frequently drops F-bombs and once crashed (and was thrown out of) an AT&T (T, Tech30) party, fired back at Trump.

"I will serve all customers in the USA openly but I will obviously leave your hotel right away based on this. #checkingout," Legere tweeted.

Oh, if it only stopped there. The Donald, as he typically does, claimed victory.

"T Mobile service sucks and it took a Trump to call him out! @realDonaldTrump for President!"

But Legere didn't give up, firing off a tweetstorm that continued into Sunday morning. Legere, by far, delivered the lowest blows of the Twitter war.

"checked out.. Now I don't have to watch tv with the 1st 9 channels being the Trump family saying how wonderful they are:)"

Legere later added, "I am so happy to wake up in a hotel where every single item isn't labeled 'Trump' and all the books and TV is about him"

Trump also continued tweeting about T-Mobile into Sunday. In case you're wondering which carrier Trump uses, he said he believed Verizon was the best provider, tweeting Verizon's famous coverage map.

Related: This is the fastest cell phone network ever

Related: T-Mobile will pay $650 for you to switch

CNNMoney (New York) April 12, 2015: 12:54 PM ET

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The 'Hillary beat': Who's covering Clinton

The New York Times was particularly early out of the gate. The paper shifted reporter Amy Chozick to its politics team to cover Clinton in the summer of 2013 -- 649 days before Clinton's announcement on Sunday.

By the end of that year, BuzzFeed put reporter Ruby Cramer on the "Hillary beat." CNN promoted White House correspondent Brianna Keilar to serve as its lead Clinton reporter in early 2014. And last spring, the Washington Post assigned the same role to reporter Anne Gearan, who had covered Clinton during her time as secretary of state.

Chozick, who covered Clinton's failed 2008 presidential bid for the Wall Street Journal, told CNNMoney that she has relished her time on the beat ahead of the campaign launch.

Related: Gloria Borger analysis - What is Hillary Clinton thinking?

"I've loved the past 18 months or so when I've mostly written enterprise stories, observed Clinton at low-key events in New York and elsewhere and had the time to study up and get to know the people who will be characters in the narrative that will begin to take shape after Sunday's announcement," Chozick said.

Chozick said she's been to Arkansas, where former President Bill Clinton served as governor for 12 years, at least six times. She said she has read every "credible" book on the Clintons.

"That time was critical because as soon as the daily grind of a presidential campaign starts it's hard to find time to sleep, much less thoroughly study your subject," Chozick said.

The early coverage speaks to Clinton's stature. Unlike other presidential aspirants, the former secretary of state is already a household name and one of the most recognizable people in the world.

Related: Hillary Clinton's economic plans need overhaul

News outlets have devoted far more resources to Clinton than potential general election foes like Jeb Bush or Scott Walker. That has only tightened the competition to break news on Clinton.

Earlier this year, the New York Times poached former Politico writer Maggie Haberman, widely considered to be the best-sourced reporter in Clinton's orbit, to supplement the newspaper's coverage of the Democratic frontrunner.

The Clinton-focused scribes will also face competition from veteran reporters like Glenn Thrush of Politico and Julie Pace of the Associated Press. On Saturday, Pace nabbed a scoop on the Clinton campaign's economic message.

The assignment is a potential career-maker. Campaign reporters have often followed candidates to the White House. Pace covered President Obama's 2008 campaign and continued to report on him throughout his first term. In 2013, the AP promoted her to White House correspondent.

Covering a candidate before she's officially a candidate posed certain difficulties to the reporters.

"It's been challenging and frustrating to know that there was a campaign forming and a message being crafted and people being hired, and really only being able to see and write about a small portion of it," said Gearan, the Washington Post reporter.

Gearan said she has spent much of the last year cultivating sources in Iowa. "I'm certainly ready to get on with it," she added.

Clinton has given regularly scheduled speeches since last summer, and the recent controversy surrounding her use of a private email account at the State Department generated plenty of media attention. But many of the stories on Clinton's assumed presidential ambitions have been previews of her campaign.

"There's been a lot of stage-setting," Politico's Annie Karni said. "One story everybody is writing is what will Bill Clinton's role be. That's an important factor in the race and a big question to answer, but while we're in campaign-in-waiting mode, it is a stage-setting story."

Karni, who left the New York Daily News in March to cover Clinton for Politico, noted a tangible campaign development earlier this month.

Along with her colleague Gabriel Debenedetti, Karni reported that Clinton's team had signed a lease in Brooklyn for a campaign headquarters.

"If you think about it, signing a lease is a small thing," Karni said. "But it was something concrete to show us that it was coming and it took on new significance because there was nothing else official going on."

More news has trickled out since then. On Thursday, a group of reporters gathered at the Washington, D.C. home of Clinton campaign chairman John Podesta for an off-the-record dinner. Clinton's team hosted a similar gathering on Friday night in New York.

The dinners could be seen as an effort by Clinton to improve her complicated relationship with the press. At an awards ceremony last month, Clinton said, at least partly in jest, that she was interested in forging a "new relationship with the press."

"So here it goes. No more secrecy. No more zones of privacy. But first of all, before I go any further. If you look under your chairs, you'll find a simple nondisclosure agreement," she joked.

For reporters on the "Hillary beat," the outreach hasn't gone unnoticed.

"I'd say that everyone is trying to start off on the right foot, just being friendly as human beings and acknowledging that this is our job," Karni said. "There's an effort to start off on a collegial note and to get along."

CNNMoney (New York) April 12, 2015: 8:39 PM ET

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China is poised to report worst growth since the financial crisis

Gross domestic product is forecast to have expanded by 7.0% in the first quarter of 2015, compared to the same period last year, according to the survey's median estimate.

That's quite a drop from the final quarter of 2014, when economic growth came in at 7.3%. Looking ahead, economists expect to see 6.8% annual GDP growth for this year, and even slower expansion at 6.5% in 2016.

The strength of China's economy is often difficult to judge at the beginning of the year because of the Lunar New Year holiday. But many recent data points have been so disappointing that experts are bracing for the worst.

Although survey estimates remain in line with the government's target of 7%, economists expect Beijing to take stimulus action if the economy slows much further, according to the survey. One of the biggest risks facing the Chinese economy continues to be a waning property sector.

"While we do not expect a dramatic slowdown, we think downward pressures on growth stemming from the weakness in real estate will remain in the coming months," wrote Louis Kuijs of RBS in a research note. "Against this backdrop, we think more macroeconomic easing steps will follow in the coming months to ensure that GDP growth will not fall too much below the target of 7% in 2015."

So far this year, the government has already tried to shore up the real estate sector, putting in place measures to boost property sales and battle slowing construction. But UBS economists Harrison Hsu and Wang Tao said the measures won't be enough to reverse the overall slowdown.

Related: China's factories slump amid growth concerns

Other risks continue to loom, including capital outflow and massive local government debt.

Overall, analysts expect Beijing to consider interest rate cuts, a lower reserve requirement ratio, and further monetary easing to support the economy.

GDP growth in China remains the most comprehensive gauge of the country's economic health -- an important number to watch as the government tries to steer the country towards consumption-driven growth.

China averaged economic expansion of around 10% a year over the past three decades, making it the world's second-largest economy and boosting household wealth. But now, the pace of growth is languishing -- China recorded GDP growth of 7.4% last year, the worst in 24 years, a significant slowdown from double-digit growth in 2010.

The National Bureau of Statistics will announce first quarter GDP numbers on April 15.

Related: The world's hottest stock market is in China

CNNMoney (Hong Kong) April 12, 2015: 10:01 PM ET

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HBO still hasn't heard from Scientology lawyers for 'Going Clear'

Written By limadu on Minggu, 12 April 2015 | 10.20

"Facts are stubborn things," HBO CEO Richard Plepler said in an interview with CNNMoney this week.

"Everybody's entitled to their own opinion, but they're not entitled to their own facts," he added. "I think the documentary bears up very well to any kind of scrutiny."

Sheila Nevins, the president of HBO's documentary division, had a similar comment -- "facts are facts" -- when asked about the film at a party on Wednesday held by The Hollywood Reporter.

The March 29 premiere of "Going Clear" scored the highest overnight viewership for an HBO documentary in nine years. Nevins and Plepler pointed out that the documentary is still reaching new viewers every day thanks to repeats and HBO's various on-demand services.

John Travolta isn't interested in watching HBO's Scientology documentary 'Going Clear.'

"Going Clear" was back in the news this week when John Travolta, a member of the church, said he was uninterested in seeing it.

The documentary, by well-known filmmaker Alex Gibney, is based on the book of the same name by Lawrence Wright.

In an interview before the premiere, Gibney said he was well aware of the possibility that Scientology might try to strike back with lawsuits.

But, he said, "we were very rigorous in terms of how we checked our story, how we had it scrutinized extensively by lawyers -- not only my own lawyers but by HBO's lawyers," Gibney said.

Nevins once commented that there were "probably 160 lawyers" involved, but she meant that hyperbolically.

HBO's other recent documentary success was "The Jinx," a six-part series about the troubled multi-millionaire Robert Durst, a suspect in several murders.

There have been questions about the extent of filmmaker Andrew Jarecki's communication with law enforcement, particularly due to the recording of Durst apparently saying to himself he "killed them all."

"I can tell you unequivocally we did not withhold any evidence," Plepler said, calling Jarecki "very scrupulous."

"I think what's important to remember is that a 30-year -- 30-year -- murder mystery was essentially opened up" by Jarecki and his colleagues, Plepler added.

HBO and the parent of this web site, CNN, are both owned by Time Warner.

CNNMoney (New York) April 10, 2015: 6:34 PM ET

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The Obamas paid $93,362 in federal income taxes

President Obama and First Lady Michelle Obama reported about the same amount of income in 2014 as they did in 2013.

President Obama and First Lady Michelle Obama reported $495,964 in gross income last year, according to their 2014 tax returns released by the White House on Friday afternoon.

The president's salary accounted for nearly $395,000 of that, while their net business income came to $88,181 from Random House and literary management company Dystel & Goderich. They also earned about $16,000 in taxable interest.

After accounting for $17,400 in tax-deferred retirement savings and a $1,181 deduction for the self-employment payroll taxes they paid, their adjusted gross income came to $477,383, just a little less than they earned the year before.

Related: Top 400 taxpayers' average income jumps to $336 million

So how much of all that went to Uncle Sam? The Obamas' federal income tax bite came to $93,362, or 19.6% of their AGI.

A piece of that tax burden -- $2,035 -- was attributable to the Medicare surtax on high earners that was created to help fund Obamacare.

The Obamas donated $70,712, or about 15% of their AGI, to more than 30 charities.

They also paid $22,640 in income taxes to their home state of Illinois.

CNNMoney (New York) April 10, 2015: 6:33 PM ET

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Hillary Clinton's economic plans need an overhaul

Clinton is expected to begin her presidential campaign this weekend, yet she's stayed mum on the economy -- something she hammered on during the 2008 campaign.

"She's a blank check at this point," says Dean Baker, co-director for the Center for Economic and Policy Research. "She'll be pressed to take positions."

America's economy has come a long way from 2008. Back then, the country was headed toward a recession. The unemployment rate was climbing -- eventually on its way to 10% -- while America's housing market was collapsing. The divide between Wall Street and Main Street was just beginning to widen, some argue.

Now, unemployment is down to 5.5% -- not far from its target level. Last year was America's best year of job growth since 1999. However, some big issues remain. Inequality is worsening and most people's wages have barely grown.

How Hillary approaches inequality, as well as her relationships with Wall Street and Main Street, will be key to her success in this campaign.

Here's how Hillary may shift her approach for 2016:

Related: 'Hillary' websites going for up to $295k

1. How will she tackle Inequality?

Then: Clinton heavily criticized President George W. Bush for his handling of the economy in 2008. She zeroed in on jobs losses, rising inequality and no wage growth.

While the economy hadn't fallen off a cliff yet -- unemployment was 5.6% when she lost the primary race -- her inequality rhetoric resonated with many Americans.

A Republican president ineligible for another election presented an easy punching bag for Clinton on inequality.

"President Bush had one final chance tonight to acknowledge what the American people have known for years: that the economy is not working for middle class families," Clinton said of Bush's State of the Union address in January 2008.

Now: Those problems haven't changed much under President Obama, but Clinton is unlikely to throw the same darts at her former boss.

Inequality is arguably worse now, and wage growth remains the economy's sore spot. In 2008, median weekly wages were $796 -- the exact same amount at the end of 2014, adjusted for inflation, according to the Labor Department.

Clinton must carefully calculate an inequality message without distancing herself from Obama's economic achievements, experts say.

"It s a very different world" from 2008, says Gary Burtless, an economist at the Brookings Institution. "There's more anger out there about the economy and inequality. She'll modify the rhetoric she uses."

Related: The tough task of going through Hillary's emails

2. Too cozy with Wall Street?

Then: The stock market boomed during Bill Clinton's time in office. Hillary liked to remind Wall Street of that in 2008. The tech boom, free trade agreements and bull market were all hallmarks of President Clinton's economy.

Bill had cemented a relationship with Wall Street that Hillary benefited from in 2008, says Larry Sabato, a politics professor at the University of Virginia.

"She was the candidate of Wall Street" in 2008, says Sabato.

Now: Wall Street is still expected to doll out millions to Hillary's campaign, but she must tip-toe more carefully around that support, experts say. The recession generated a scathing image of the bankers who helped finance Hillary's run in '08.

Most recently, democratic senator Elizabeth Warren is hammering big banks for more reforms and could press Hillary and others to take stance as well.

Hillary will have to find the balance between appealing to the Warren democrats that want greater financial change and Clinton's loyal Wall Street donor base, experts say.

"She'll want the populist rhetoric but also the money," says Sabato. With the Clintons, "the money comes first and it may be completely separate from the rhetoric."

Related: He serves BBQ to Bill & Hillary Clinton

3. Can she connect with Main Street?

Then: Clinton ridiculed President Bush in 2008, telling USA Today that the "moneyed class" had reaped all the benefits of his economy.

As a New York senator -- and former First Lady -- she championed middle class jobs, minimum wage laws and pushed for health care reform.

Several years later, Clinton's relationship with the moneyed class is much more public and perhaps political dynamite for her economic policies during this campaign.

Now: Average Americans are still struggling. Inequality is a much bigger issue than it was eight years ago, propelling Thomas Piketty's 700-page book "Capital in the 21st Century" to bestseller status last year.

Experts say Clinton's problem will be connecting with typical Americans. Since leaving the State Department, Hillary has made a fortune on speeches and her book, on top of Bill's well-known wealth.

Knowing this perception, Clinton plans to hold small campaign events this week geared at giving face time to average folks. How Clinton tries to relate to Americans on hot topics like inequality, middle class jobs and the federal minimum wage could be key early on.

Clinton has already tried once to convince Americans she had it hard. One political slip-up came when she wrote in her book, "Hard Choices" that she and Bill were "dead broke" when they left the White House in 2001. The comment was widely viewed as out-of-touch with Main Street realities.

"It was just bizarre," says Baker. The Clinton's wealth "is not anyone's idea of flat broke."

Related: 'President' Hillary Clinton: Good for stocks?

CNNMoney (New York) April 11, 2015: 9:05 AM ET

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BuzzFeed reposts deleted Dove article

Written By limadu on Sabtu, 11 April 2015 | 10.20

BuzzFeed reposted a story about Dove soap after questions arose over why it had been deleted.

"I blew it," Editor-in-Chief Ben Smith wrote in a memo that he tweeted Friday. "Twice in the last couple of months, I've asked editors -- over their better judgment and without any respect to our standards or process -- to delete recently published posts from the site."

Smith added that he "reacted impulsively when I saw the posts and I was wrong to do that" and that both posts would be reinstated with a brief note.

One of the deleted then reinstated stories was posted in February and concerned the game of Monopoly. The other was posted to the site's "Life" page on Wednesday and was critical of a Dove advertising campaign.

"This post was inappropriately deleted amid an ongoing conversation about how and when to publish personal opinion pieces on BuzzFeed," an update read on the reinstated story. "The deletion was in violation of our editorial standards and the post has been reinstated."

Gawker noticed the deletion on Thursday and raised the question whether the article was taken down due to the BuzzFeed's relationship to Unilever, Dove's owner, and a BuzzFeed advertiser.

Hasbro, the makers of Monopoly, is also an advertiser.

Smith denied that advertiser pressure was behind the Dove story deletion.

"You also have a right to ask about whether we did this because of advertiser pressure, as Gawker suggested," Smith wrote to the BuzzFeed staff on Friday. "The answer is no."

Soon after Gawker's story on Thursday, Smith posted a memo on Twitter written by BuzzFeed Life editorial director Peggy Wang and BuzzFeed Food editor Emily Fleischaker.

The memo said that the piece was pulled due to the article's voice and not its content.

"When we approach charged topics like body image and feminism, we need to show not tell," the memo read. "Using our own voices (and hence, BuzzFeed's voice) to advance a personal opinion often isn't in line with BuzzFeed Life's tone and editorial mission."

Or as Smith said in the tweet attached to the Thursday memo: "We are trying not to do hot takes."

On Friday, Smith made it clear that advertiser pressure is something he tries to shield his staff from.

"I field complaints all the time from companies and individuals, including advertisers, and I see it as my job to shield you from that pressure," he wrote.

Related: BuzzFeed wants to expand its content empire.

CNNMoney (New York) April 10, 2015: 6:14 PM ET