67 WALL STREET, New York - September 4, 2012 - The Wall Street Transcript has just published its Retail Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Brick-And-Mortar Versus Online Retail Sales - Cautious Consumer Spending - Specialty Hardlines and Softlines Retail - Strong Secular Growth in E-Commerce - International Retail Platforms

Companies include: Under Armour, Inc. (UA), Nike Inc. (NKE), Lululemon Athletica Inc. (LULU), Dick's Sporting Goods Inc. (DKS), Amazon.com Inc. (AMZN) and many others.

In the following excerpt from the Retail Report, Piper Jaffray's Health and Wellness research analyst discusses the outlook for this unique investment category:

TWST: What is your retail coverage?

Mr. Naughton: My coverage universe is a little unique. I cover what we have termed active and healthy lifestyles. I have two relatively distinct sets of stocks that I follow. The one side focuses on organic and natural foods as well as the supplement business, which I would consider the health and wellness side, and then the second part is the active lifestyle side, which would be more focused on sporting goods as well as active apparel and active footwear. There are also some other pieces in here for fitness clubs that fit into the active side as well.

TWST: Are the active lifestyle and organic and natural foods/supplement spaces seeing the same kinds of trends right now, or are they experiencing two distinctly different situations?

Mr. Naughton: It's interesting. The active lifestyle space, in my opinion, is a category where the consumer is continuing to spend more money. I think that the fusion of fashion and function is well underway with what we've seen from apparel and footwear growth from Under Armour (UA), Nike (NKE), Lululemon (LULU) and those types of names. These are all companies that are clearly benefiting from trends within this entire lifestyle and the next leg of that growth is those brands continuing to offer the types of products that they do today with better fits, but also now introducing more technology. So whether it is chips inside of shoes or tracking on shirts to monitor heart rates inside of your body, I think those are the types of initiatives that will continue to drive innovation in that category and continue to drive share of wallet with the consumer.

TWST: What about with youth sports? Are sporting goods companies benefiting from that area as well?

For more from this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers, and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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Piper Jaffray Research Analyst: Health and Wellness Stocks are Hot Investment Sector as Real Growth Rates Accelerating

By Zachary Tracer - 2012-09-04T21:22:48Z

Hartford Financial Services Group Inc. (HIG) agreed to sell a retirement-plans business for $400 million after billionaire investor John Paulson pressured the insurer to improve results.

The sale to Massachusetts Mutual Life Insurance Co. may be completed by year-end, Hartford said today in a statement. The deal, structured as a reinsurance transaction, will boost capital by $600 million and wont affect financial results under generally accepted accounting principles, the Hartford, Connecticut-based insurer said.

Hartford Chief Executive Officer Liam McGee, 57, agreed this year to sell a broker-dealer unit and individual-annuities distribution business. Prudential Financial Inc. emerged last month as lead bidder for Hartfords individual life-insurance business, people with knowledge of the matter said then.

Hartford could use cash proceeds from the sale of its life and retirement units to reduce debt, support ongoing businesses and repurchase stock, Jay Gelb, an analyst at Barclays Plc, wrote in an Aug. 20 research note. Ongoing core units should deliver improved and stable returns.

Paulson, whose hedge fund is Hartfords largest investor, had called on the seller of life insurance and property-casualty coverage to do something drastic to boost the stock price, which fell 39 percent in 2011. McGee responded with plans to sell or shutter parts of the insurer.

We continue to make good progress executing on our strategy, McGee said in the statement. With the Hartfords sharper focus on its historical strength in insurance underwriting, along with efforts to improve expense efficiencies, increase capital generation and reduce market risks, we are on the right path to deliver greater shareholder value.

Hartford advanced 2.2 percent to $18.09 at 4:30 p.m. in New York. It had gained 8.9 percent this year through the close of regular trading.

The transaction will help policyholder-owned MassMutual expand its retirement-plan business to smaller clients, CEO Roger Crandall said in a telephone interview.

The opportunity to get into that smaller and mid-sized plan market is a real positive for us, Crandall said. There are an awful lot of small companies and small plans out there.

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Hartford to Sell Retirement Plans for $400 Million

William Bernstein, investment adviser and author, says the worst mistake is not knowing when to take money off the table.

NEW YORK (Money Magazine) -- William Bernstein has a gift not only for grasping the complex but for helping the rest of us get it too.

He spent the first chunk of his career as a neurologist practicing on the coast of Oregon but cut back on his work hours in 1990. A few years later he focused on a new fascination: investing. He launched an online journal (a sort of proto-blog) called efficientfrontier.com and wrote "The Intelligent Asset Allocator," the first of several books. (He has also written for MONEY.)

Now he's an investment adviser for a handful of high-net-worth clients. Bernstein's writing often explores academic financial theory, but he manages to turn it into practical, plain-English advice.

His latest obsession, resulting in the short e-book "The Ages of the Investor," is what economists call the life-cycle theory, which dictates that your asset allocation should be tied to your earnings power throughout your career.

Bernstein, 64, spoke with senior editor George Mannes; their conversation was edited.

There's a debate going on now among economists about how much exposure people should have to stocks. What made you weigh in?

It's almost like a political issue. There's a "right wing" of very smart, authoritative people who think that savers and retirees should be investing conservatively because stocks are so risky. And then there's a "left wing" of equally smart and authoritative people who believe the opposite.

I was trying to reconcile the two views. Plus, I wanted to deal with what happened in the 2008 financial crisis, which changed how people, myself included, think about risk.

How so?

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The worst retirement investing mistake

LONDON -- The last five years have been tough for those in retirement. Portfolio valuations have been hammered and annuity rates have plunged. There's no sign of things improving anytime soon, either, as the eurozone and the U.K. economy look set to muddle through at best for some years to come.

A great way of protecting yourself from the downturn, however, is by building your retirement fund with shares of large, well-run companies that should grow their earnings steadily over the coming decades. Over time, such investments ought to result in rising dividends and inflation-beating capital growth.

In this series, I'm tracking down the U.K. large-caps that have the potential to beat the FTSE 100 (UKX) over the long term and support a lower-risk income-generating retirement fund (you can see the companies I've covered so faron this page).

Today, I'm going to take a look atBG Group (LSE: BG.L) , the highly successful gas exploration and production company whose share price has risen by more than 400% over the last 10 years.

Gas futuresBG Group has thoroughly outperformed the FTSE 100 over the last 10 years, thanks to stonking outright growth that's been consistently reflected in its share price and dividends:

Total Return

2007

2008

2009

2010

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Is BG Group the Ultimate Retirement Share?

SPRINGFIELD, Mass., Sept.4, 2012 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) announced today it has entered into a definitive agreement with The Hartford to purchase its Retirement Plans business, a prominent small to mid-sized retirement plan provider. This transaction will significantly increase the size of MassMutual's retirement business and strengthen its position as a leading retirement plan provider.

The purchase price is $400 million, subject to adjustment at closing. The transaction, which is subject to regulatory and other approvals, is expected to close by the end of 2012.

"This acquisition represents an important step for MassMutual and underscores our long-standing commitment to the retirement market. Following the closing of the transaction, we look forward to combining the best of our two organizations to offer enhanced capabilities and greater overall value across a broader retirement market," said Roger Crandall, Chairman, President and CEO, MassMutual. "Our Retirement Services Division has experienced record growth in recent years and is an important contributor to MassMutual's overall profitability and success. This transaction enables us to accelerate growth into new sectors, add complementary distribution capabilities, and nearly double the number of retirement plan participants we serve."

Under the leadership of Elaine Sarsynski, Executive Vice President and head of MassMutual's Retirement Services Division and Chairman and CEO of MassMutual International LLC, a plan will be implemented to ensure an orderly integration of this acquisition over the coming year.

"Today's announcement recognizes the strength of The Hartford's Retirement Plans business and the innovation, dedication and talent of the team," said The Hartford's Chairman, President and CEO Liam E. McGee. "The agreement marks the second of three planned business sales as we continue to make good progress executing on our strategy. With The Hartford's sharper focus on its historical strength in insurance underwriting, along with efforts to improve expense efficiencies, increase capital generation and reduce market risks, we are on the right path to deliver greater shareholder value."

MassMutual's Retirement Services Division offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. With a strong focus on the mid-size market, it provides retirement plan services to more than 7,600 plans, serves more than 1.6 million participants, and has more than $66.2 billion in assets under management (as of June 30, 2012).

After the closing, the strong distribution network of The Hartford's Retirement Plans business among small to mid-size plans will complement and strengthen MassMutual's excellent position with mid-size to larger corporate plans. Additionally, The Hartford's Retirement Plans' tax exempt business, including its position as a top provider of governmental plans, will strengthen MassMutual's foothold in this segment. The Hartford's Retirement Plans business, which also provides administrative services for defined benefit programs and has $54.9 billion in assets under management (as of June 30, 2012), provides retirement plan services to more than 33,000 plans and serves more than 1.5 million participants.

Once the transaction is completed, the combined retirement businesses are projected to have approximately $120 billion in assets under management and 3 million participants.

"Importantly, this is a win-win for both MassMutual and The Hartford's Retirement Plans business, their clients, distribution partners and employees," said Ms. Sarsynski. "The addition of this business will enable us to broaden and deepen our product offerings and relationships with valued distribution partners. We look forward to welcoming the talented team of professionals at The Hartford's Retirement Plans business to MassMutual."

"In addition, clients from The Hartford's Retirement Plans business will benefit from MassMutual's industry leadership in many areas, including our participant communication and education programs, comprehensive tools that help plan sponsors and plan participants measure retirement readiness, and award winning customer service," Ms. Sarsynski continued. "Together, we will create enhanced value for our advisors and plan sponsors, and work collectively toward our goal of helping our participants retire on their own terms."

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MassMutual To Acquire The Hartford's Retirement Plans Business

HARTFORD, Conn.--(BUSINESS WIRE)--

The Hartford today announced that it has signed a definitive agreement to sell its Retirement Plans business to Massachusetts Mutual Life Insurance Company (MassMutual) for a cash ceding commission of $400 million, subject to adjustment at closing. The sale, which is structured as a reinsurance transaction, is expected to close by the end of 2012, subject to regulatory approvals and satisfying other customary closing conditions.

Todays announcement recognizes the strength of The Hartfords Retirement Plans business and the innovation, dedication and talent of the team, said The Hartfords Chairman, President and CEO Liam E. McGee. The agreement marks the second of three planned business sales as we continue to make good progress executing on our strategy. With The Hartfords sharper focus on its historical strength in insurance underwriting, along with efforts to improve expense efficiencies, increase capital generation and reduce market risks, we are on the right path to deliver greater shareholder value.

The Hartford expects the transaction to have no material impact on its GAAP financial results and to benefit net statutory capital by approximately $600 million, including the ceding commission and a reduction in required risk-based capital, on closing. The estimated GAAP and statutory financial impacts are based on June 30, 2012 values and are subject to change based on final adjustments, market conditions and financial results through closing date. These impacts are expected to be recognized in the quarter in which the transaction closes.

The Hartfords Retirement Plans business is primarily a defined contribution business with $54.9 billion in assets under management as of June 30, 2012. The business serves more than 33,000 plans with more than 1.5 million participants, and has a strong presence in thesmall to mid-sized corporate401(k) and tax-exempt markets. It also provides administrative services for defined-benefit programs. As a result of the agreement, The Hartfords Retirement Plans employees will become part of MassMutuals Retirement Services Division.

This acquisition represents an important step for MassMutual and underscores our long-standing commitment to the retirement market.Following the closing of the transaction, we look forward to combining the best of our two organizations to offer enhanced capabilities and greater overall value across a broader retirement market, said Roger Crandall, Chairman, President and CEO, MassMutual.Our Retirement Services Division has experienced record growth in recent years and is an important contributor to MassMutuals overall profitability and success. This transaction enables us to accelerate growth into new sectors, add complementary distribution capabilities, and nearly double the number of retirement plan participants we serve.

As part of the agreement, The Hartford will continue to sell new retirement plans during a transition period, and MassMutual will assume all expenses and risk for these sales through a reinsurance agreement. Between now and the close of the transaction, there are no planned changes with respect to the day-to-day interactions or processes between The Hartford and its Retirement Plans distribution partners, plan sponsors and customers.

The Hartford's financial advisors for the divestiture are Greenhill & Co. and Goldman, Sachs & Co., and the companys legal advisors are Sidley Austin LLP.

About The Hartford

The Hartford Financial Services Group Inc. (HIG) is a leading provider of insurance and wealth management services for millions of consumers and businesses worldwide. The Hartford is consistently recognized for its superior service, its sustainability efforts and as one of the world's most ethical companies. More information on the company and its financial performance is available at http://www.thehartford.com.

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The Hartford To Sell Retirement Plans Business To MassMutual

Email marketers are about to be swimming in new ways to reach their subscribers. This week Facebook will begin letting brands target their email subscribers with ads on Facebook, and on Tuesday (Sept. 4) marketing technology platform Epsilon announced the ability for brands to email consumers based on what device theyre most likely to read and click a link contained in the message at a given moment in time.

As the svp of Epsilons strategic initiatives group Quinn Jalli explained, most people have consistent, device-specific email-checking habits. In the morning most check email on their smartphones or tablets. During the work day most use their desktops to check emaisthen it's back to mobile devices at the end of the day.

But marketers are typically limited in both device and time of day targeting. Epsilon says it can change that by borrowing targeting tactics from the display ad world.

On Tuesday Epsilon launched the Email Response Network, which Jalli said emphasizes clicks over opens. Among the email marketing suites features is the ability to personalize email delivery. Since the network houses email performance data for all Epsilon email marketing clients, the company is able to see how individual consumers respond, such as when they open emails, on what devices and whether they click through to a landing page.

For example, through the network Epsilon can see when an individual subscriber opened a brands email on their iPhone. Because consumers are more likely to act upon an email when it's opened on desktop, Epsilon is able to resend that email at a time when that consumer is more likely to check email from their desktop computer (and thus are more likely to respond). Conversely a marketer could make sure to send an email announcing their mobile app when a subscriber would more likely check it on his smartphone and therefore more likely to click through to download the app, said Jalli.

In addition, the Email Response Network also lets marketers build their email campaigns on the shoulders of each others data. More specifically, a brand is able to identify if some of its subscribers who arent opening emails are also ignoring emails from other clients who are participating in the cooperativethough Jalli said that Epsilon doesnt share data among brands.

Originally posted here:
Epsilon Promises More Personal Email Ads

BOSTON--(BUSINESS WIRE)--

iWalk, the leader in Personal Bionics, will demonstrate its BiOM Ankle System at the American Orthotics and Prosthetics Association (AOPA) National Assembly in Boston this week. It is the first time the BiOM Ankle System, the personal bionic intervention enabling natural movement for lower-limb amputees, will be showcased at the U.S.s largest gathering of O&P professionals.

iWalk has created a golf course-themed booth (#117) to illustrate the BiOM systems applicability for amputees to return to the everyday activitiesat home and on the joband the recreational endeavors they enjoyed prior to injury. Attendees can expect a fully interactive experience as walkers, including four-time Paralympian Brian Frasure, will be on hand to provide live demonstrations. The company will also conduct fittings and adjustments of the BiOM system in the booth.

Personal BionicsOvercoming Limitations of Traditional Prosthetics

Personal Bionics emulate a specific individuals muscle and tendon function. While traditional prosthetics only replicate bone structure, the BiOM system emulates the calf muscle and Achilles tendon to help normalize function1. The BiOM system features Powered Plantar Flexion, which is the push-off that enables people to walk with a natural gait and the same metabolic energy as a non-amputee.2

Because it reacts in real time to the terrain and the environment, the user does not have to wait for the device to respond. The Personal Bionic Tuning capabilities enable certified prosthetists to further enhance the user experience by adjusting natural movements to personal preference within normative human performance standards.

Personal Bionics are transforming the prosthetic industryits not enough to simply improve mobility any more, we now have the technology to normalize function and enable people to return to work and other important daily activities faster and with greater ease than ever before, said Tim McCarthy, president and CEO of iWalk. Were only just scratching the surface with the BiOM Ankle System. Stop by our booth at AOPA to get the full Personal Bionics experience and learn more about how our products will redefine the orthotic and prosthetic fields.

As someone who both fits patients with and wears the BiOM Ankle System, I know that Personal Bionics are changing livesI see it every day and truly feel it myself, said Shawn Brown, CPO, vice president of clinical operations of SRT Prosthetics & Orthotics, an iWalk Certified Bionics Center (iCBC). Brown is himself an amputee and a two-time Paralympian. iWalks incredible setup at the AOPA conference will provide a fun, compelling setting to demonstrate the power of the technology. No simple prosthetic could possibly empower me to walk a slope and play a golf ball that is lower than my feet with the confidence and capability provided by a Personal Bionic device like the BiOM system.

Availability

The BiOM Ankle System is generally available nationwide through the iWalk Certified Bionics Center (iCBC) network as well as VA Medical Centers and the Department of Defense. For more information on the BiOM system, visit http://www.iwalk.com. Medical professionals and prosthetists interested in learning more about iWalks products and bionic certification course should visit Booth 117 at the AOPA conference or send an email to contact@iwalk.com.

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iWalk Showcases First Commercially Available Personal Bionics System at the 2012 AOPA National Assembly

San Diego State coach Steve Fisher is hoping a move to the Big West will help elevate the entire league.

Kent C. Horner/Getty Images

With 11 NCAA tournament bids in the last three seasons, and at least three more looking very likely this upcoming year, Mountain West men's basketball is at its competitive apex. There is significant talent spread across the league, extremely well-regarded head coaches at many of the programs, and some of the loudest, toughest homecourt environments in the country. The product is undeniably good.

In theory, the rise (and presumed staying power) of MWC hoops should be a valuable asset for a conference reexamining its broadcast rights in light of the shuttering of the conference's The Mtn. Network this past spring. But when asked about the value of basketball in ever-changing broadcast rights negotiations, league commissioner Craig Thompson made a sobering and salient point.

"I think the greatest example a couple summers ago was Kansas," Thompson said, noting how at one point, the Jayhawks looked like they were going to get squeezed out of the realignment picture when a Pac-16 and a defunct Big 12 appeared possible. "... Really, Kansas basketball was arguably not an issue in anyone's mind."

If no one values Kansas basketball as a piece of this ongoing national shell game, then you can forget about UNLV, San Diego State or New Mexico moving network needles. It's a football-driven world, which explains pretty much everything that's gone on the last couple of years in the Mountain West, and what's still to come as the reinforced league continues to try to find its footing.

Given the shortcomings that helped lead to The Mtn.'s demise -- very limited distribution outside of a premium tier on DirecTV, no high-definition broadcasts for basketball outside of the conference tournament -- it's easy to forget that it was the first conference-specific TV network. The league, tired of what it considered second-class treatment from ESPN in terms of broadcast times and dates, struck out on its own in a precursor to networks that are now printing sheaths of money for the Big Ten and Pac-12. Six years after the launch of The Mtn., the concept clearly has been validated, but the football product in the Mountain West was never good enough or stable enough or in markets large enough to make other vendors want to pay for distribution or for the BCS to fully let the MWC into the party.

So, faced with earning around $1 million a year from Mountain West rights, schools like BYU, Utah, TCU, Boise State and San Diego State all made financially prudent (if, in some cases, geographically curious) decisions. Most are grabbing many times that from a BCS conference while BYU elected to go independent and control its own product with its own TV network that has five times the distribution (65 million homes) The Mtn. was able to claim. It's hard to blame any of them for the moves, but the result is, as the Mountain West continues to try to shore up its football side, a really good basketball league dangles a bit in the wind.

Perhaps it's positive spin on a move forced upon him by administrators trying to offset massive budget cuts in the California state school system, but San Diego State head coach Steve Fisher actually seems enthusiastic about his program's looming move to the heretofore low-prestige Big West starting in 2013-14. His Aztecs, who are loaded this season and also likely will bring a ranked team into the Big West next year, are set to become the latest program attempting to thrive with a Gonzaga/Memphis model: Load up for bear in nonconference play and try to use your program to elevate the rest of the league closer to your level. But for Fisher, the potential for better TV exposure could be the biggest plus to switching leagues. Not coincidentally, the Big West has a broadcast deal with ESPN.

"What is going to happen [next year], we're going to have a much more impactful TV schedule when we're not burdened with what we've had to deal with since we went away from ESPN. It's been an albatross on everybody," Fisher said last week. "First, [it will help] internally, administratively, financially, then exposure-wise, people would laugh and say [San Diego State's] in the witness protection program because no one could see you. We could not have a nonconference home game on ESPN. That will all change dramatically for the better, so we're already ratcheting up our nonconference schedule to fit what we're going to be."

Original post:
Andy Glockner: Mountain West hoops success hasn't translated into broadcast gold

CORAL SPRINGS, Fla.--(BUSINESS WIRE)--

Cruise Planners - American Express Travel, the nations largest home-based travel agent franchise network in the cruise industry, recently found that the majority of new franchise owners are entering into cruise sales with no prior working experience in the travel industry, according to an internal audit of new franchise owners.

From stay-at-home moms to former pet sitters and retired real estate agents, Cruise Planners has seen an influx of new franchise owners from all walks of life with no previous familiarity in selling cruise or land travel, yet have exceeded all expectations by selling hundreds of thousands of dollars in travel bookings. The host agency attributed this high level of success to its training programs, innovative marketing materials, business development coaching and overall expertise in the travel industry.

Its rewarding to see how our new travel advisors are excelling in this competitive business without any previous experience selling travel or prior understanding of the market and how much it has changed over the years, said CEO/Co-founder Michelle Fee. The data we collected on our new franchise owners is clearly a testament to our turn-key business model.

Cruise Planners positions franchisees with an introductory training course held in Ft. Lauderdale, Florida that defines the travel market, while teaching them about technology, travel trends, social media and giving proven marketing strategies and tips.Whether a new or seasoned travel professional, Cruise Planners further develops sales skills with continued learning through Cruise Planners University (CPU), which offers new programs and technology to streamline and enhance home-based business models. What allows Cruise Planners franchise owners to flourish is our business in a box strategy that ensures each franchisee has the tools to be effective and, of course, their own personal motivation and drive is the icing on the cake, continued Fee.

As a working mother, it is important that I have everything I need easily at my disposal so that my business can run smoothly and efficiently, said Monica Pollack, a New Jersey based franchise owner since June 2011 and stay-at-home mom. Cruise Planners is constantly offering me something new, from upgraded marketing and training materials to stronger connections to cruise lines and travel vendors in the industry, which has been the key to building my successful business in such a short time.

Headquartered in Coral Springs, Florida, Cruise Planners, an American Express Travel Services Representative, has more than 800 franchisees across the country that independently book cruises and associated travel. For more information, visit http://www.cruiseplanners.com, http://www.cruiseplannersfranchise.com, or visit the companys Facebook page.

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Success at Cruise Planners, No Experience Necessary