Channel: Business Insider
Browsing All 49146 Browse Latest View Live
Mark channel Not-Safe-For-Work? cancel confirm NSFW Votes: (0 votes)
Are you the publisher? Claim or contact us about this channel.

How To Get Way More Food At Chipotle For The Exact Same Price


A Burrito Bowl and Burrito at Chipotle cost the same, but a Reddit user claims you get more food in the Bowl than you do in the regular Burrito.

Seems too good to be true, we thought.

So, we put this claim to the test and found that you do indeed get much more food in a Burrito Bowl. You can also order a tortilla on the side and make a burrito of your own. 

Find out how much more food is in a Burrito Bowl than a regular Burrito and watch our Chipotle weigh-in below:


Produced by William Wei

SEE ALSO: How To Make A Bacon Bowl

SEE ALSO: The Verdict On Taco Bell's Cool Ranch Doritos Locos Tacos

Please follow Retail on Twitter and Facebook.

Join the conversation about this story »

Some Of The World's Most Influential Women Showed Up To The Premier Of A New Documentary


Gloria Steinem Makers

A lot can happen in a half century. 

For women, the last 50 years have brought some of the most sweeping social reforms in history –– and it didn't come without a fight.

In a new AOL/PBS documentary, "MAKERS: Women Who Make America," filmmakers have created an unprecedented archive of stories told by the very women –– deemed "Makers" ––  who made it all possible. 

The three-party documentary captures more than 160 first-person stories from celebrated pioneers like Oprah Winfrey and Faith Ringold and unsung heroes like New York City's first female firefighter, Brenda Berkman, and the first woman to finish the Boston Marathon, Roberta "Bobbi" Gibb. 

Business Insider was invited to the premiere earlier this month at the Lincoln Center's Alice Tully Hall. For about three extremely surreal hours, I rubbed elbows with legendary Makers like Gloria Steinem and Martha Stewart, and was thrilled to see young stars like Allison Williams supporting the cause.

I've gathered the highlights from the night here. 

On my way to the Lincoln Center, an ad for MAKERS coincidentally popped up on the taxi monitor. It's the first time I haven't automatically hit "Mute."

I arrived at least 45 minutes before showtime, and the place was PACKED. I could barely get through to coat check.

The decor was classy and elegant.

See the rest of the story at Business Insider

Please follow The Wire on Twitter and Facebook.

We Need To Start Running Schools Like Hedge Funds


This week is TED week – when some of the most relevant minds in society, business, and culture congregate to give speeches 18 minutes long sharing their ideas about how to change the world.

The series is important for a number of reasons, not least of which is that it gives us a fresh collective zeitgeist into which we can sink our minds, hopes, energies, and efforts – wiping the slate clean of past problems and upgrading to more novel ones – of sorts.

For surely, the challenges that we face might be brought to light in a mere 18 minutes, but could take a lifetime or more to solve – and for which there may never be a clear solution. Yet there is purpose in a cause greater than one’s self.

TED is also important for its endurance. Many of the talks shared even years ago still resonate. Education, the area about which I’m most passionate, will forever be a mainstay in the panoply of discussion topics. Sir Ken Robinson’s talks from 2006 and 2010 are today more significantly yardsticks against which to measure what we still haven’t accomplished in the evolution of education than they are to measure what we have.

While giving a TED talk is not on my agenda this year, if I had to prepare hypothetically for one, I would have picked right up where Sir Robinson left off and talked about my model for a new kind of school. Here goes.

First, education is not a bureaucratic expedient to advance the economic interests of the incumbency. Education is about creating a better future and opening children’s eyes to the possibilities of life and the power they have within themselves to create positive change in their lives and the lives of others. Children need something to believe in, and what they most need to believe in is themselves. Good teachers help bring out the best in children in this way. 

I see a few main problems with education today, namely that we teach children to obey, to sit, to behave, to study for long periods of time before they are asked to produce a product. We don’t teach doing, and the only results that count are the ones that can be measured because they have been completed. Teachers themselves must also be held to a higher standard.

Therefore, the school I propose (grades 7-12) would be run as a business. I come from a finance background and would set my school up in two divisions linked closely together. The business division would handle the school’s monetary dealings and would be run similarly to a hedge fund model. The business would raise money that it would manage and use its fees and profits to subsidize the students’ tuition and offer higher salaries for younger teachers.*

The managers would be held accountable for their results, with the primary goal being to fund the future of education rather than their own personal accounts, and the students would become aware at a younger age of the fundamental concepts of business: margin, inflows equaling and exceeding outflows, and the importance of return on investment. (No matter what field you go into, a working knowledge of business concepts is a pre-requisite for enduring success.)

The second division would be the education division, which would handle the teaching of the students and curricula development. We would recruit teachers who are experienced educators with a proven track record of success, retired business and finance professionals, and young professionals with a resume of community involvement, leadership, achievement, and accountability. 

One of the issues that education faces today is in finding good teachers, namely because of the pay scale. Young, bright people are often motivated to go into more lucrative industries such as law and finance where they can earn larger salaries, but where there tends to be a surfeit of supply. We need to recruit people that would otherwise go into these higher-paying fields into education using various incentives that they might be afforded in other industries. 

The other issue is equitable remuneration to teachers for impact created. The results teachers produce are often viewed as intangible because the output is in the cultivation of students’ character, self-esteem, and critical thinking abilities – all things that are difficult to measure, but surely contribute to a student’s ability to create wealth. 

In my model, I propose that my school would be entitled to a royalty on every dollar earned by our students over a certain threshold, and those dollars would essentially be distributed to teachers as bonuses for their contribution to students’ earning potential –similar to how an entrepreneur might be rewarded for selling a successful business a decade or two after he created it. In other words, the students would be required to pay a percentage of their income (over a certain amount) to the school to recycle that money back into the school in the form of a royalty or “management fee” of sorts for the education subsidy (in the form of tuition) and personal development that they received while matriculating. 

My model solves a few main problems:

First, the problem of business mentorship. Successful business types are often exclusively made available to MBA programs from which they graduated, but mentors need to be more readily built into the framework of the daily learning process. With teachers that are industry professionals and veterans, students would learn the fundamentals of business and have access to invaluable mentorship every day. 

Recruiting top talent to the education field. By offering higher pay and greater incentives, my school could recruit some of the top young minds and offer them long-term career prospects for which they could develop youth while also continuing to build their business careers.

Accountability. The school would only succeed if the investments made by the managers proved sound. Rather than invest with a mindset of leverage for mere personal profit, investments would be made with the school’s best interest in mind, thus inherently reducing risk and placing the priorities of education first and personal reward second. 

Rewarding schools and teachers. A proper recycling of cash back into schools and a rewarding of teachers who often are the most influential people in all of our lives. Good schools and teachers are often largely responsible for students’ future successes, but don’t always receive the credit they deserve. My system would reward the schools with a perpetual annuity on alumni income earned that would go towards funding the school’s endowment, and give teachers an “equity claim” in the students they teach and the economic results those students achieve over the course of their careers. 

Why is this model important? First, we need talented young people to invest their lives in developing the next generation of leaders and who can also continue to pursue their business interests in the context of their working environments. Let these young professionals, who would otherwise go onto an MBA program or Private Equity firm, teach students the skills they learned in their first few years of work while also learning from the portfolio managers who would be managing the business side of the school. 

Moreover, we need to generate an increasing focus on the importance of ROI (return on investment) in all that we do. Results in the business world are measured through actions; the more value that each action produces, the greater the intrinsic worth of that action. By using a model of accountability with a focus on results, students will learn more about doing and will take action to produce results that actually matter: ones that are completed and thus can be measured for optimally efficient ROI.

This school model is a system that sustains itself, rewards fairly those that are a part of it, and provides opportunity for growth. The more effectively that the teachers can teach their students about leadership and producing meaningful results, the more the school and the students are rewarded. The emphasis remains on education. Furthermore, students’ talents are explored and developed earlier in life creating more evolved adults, thus increasing the lifetime value of their output and contribution to the economy and society.

While there would be a focus on economics, leadership, athletics, and service, many of the right-brain disciplines such as art, music, and dance would certainly be taught for they stimulate our creative sides and aid in the building of problem-solving skills and fulfilling relationships, which often further lend to our ability to create economic success and cultivate creativity. The thing is, when kids are encouraged to produce bodies of work, whether they are paintings or a calculus problem set, they learn how to prepare to be wrong, which is where originality emanates. My school is not conscripting a cadre of academic mercenaries, but rather developing a student body that will learn what talents it has and put them to good use early in life. 

The days of giving students a month to write a paper and grading them on a select cohort of prosaic criteria is neither serving our children nor the world. We need to cultivate a group of critical thinkers, problem solvers, civic-minded citizens, and doers who view failure as a necessary – and welcome – by-product of pursuing a worthy cause and who will measure their success not merely by the money they earn, but by the lives they touch along the way. Having a greater appreciation for teachers shall accomplish this shift in values. 

My model is surely not foolproof, but much in the spirit of TED, it addresses concretely a model for a better education system and plants the seed that can germinate through further probing, harvesting, and, of course, taking action. 

*Here’s some math backing my assumptions. If the fund were to raise $500,000,000 and earn 10% per year, that would be gross earnings of $50,000,000. If the school consisted of six classes, and each class comprised 100 students, that would make for 600 students in the school. That leaves $83,333 per student to cover tuition. If each student’s tuition cost $40,000, that’s a net overage of $26,000,000 (600 x $43,333.) If the school employed 100 teachers (one teacher for every six students) and paid each $100,000, that would still leave $16,000,000 left over for further investment. And these assumptions are just for the first year of operation and do not account for compound interest. Conversely, they do not account for losses. 

SEE ALSO: We're Entering A New 'Trust' Economy

Please follow War Room on Twitter and Facebook.

Join the conversation about this story »

The Secret Behind Bed Bath & Beyond's Perfect Towel Displays

Inside The PR Machine At The South Beach Wine & Food Festival


SBWFF DeSouza 18

By all accounts, the Food Network South Beach Wine & Food Festival is a runaway success.

Now twelve years running, originally starting as a humble one day celebration on the Florida International University Campus, the SBWFF has morphed into a four-day annual beachfront financial juggernaut, attracting big dollar sponsors, 60,000+ festival attendees and TV chefs clamoring to fortify their brands and touch their rabid fans.

Every household name celebrity chef was in attendance Bobby Flay, Giada De Laurentiis, Masaharu Morimoto, Rachael Ray, Anthony Bourdain, Emeril Lagasse, Geoffrey Zakarian, and countless more conducted cooking demonstrations, hosted late night parties, hocked books and partied like rock stars.

Even Guy Fieri, seeming nonplussed by the recent parody menu skewering his NY flagship restaurant, made the rounds.

While the festival itself is non-profit, with all proceeds benefitting Florida International University, attending the festival can be quite pricey.

Want to attend the event "Tribute Dinner Honoring Nobu Matsuhisa and Christophe Navarre with Mistress of Ceremonies Martha Steward Presented by Bank of America part of the New York Times Dinner Series"? That event alone is $500pp and there are up to twenty events per day, scattered across hotels, restaurants and tents around Miami Beach.

Join us on a peek inside the PR and financial machinations of America’s sexiest food fest.

Editor's Note: SBWFF regional PR firm Brustman & Carrino comped DeSouza's entrance fee to the festival.

First things first … time to pick up the Media Passes to the festival, so off to Suite #437 at The Loews Hotel, the spectacular beachfront convention resort where the South Beach Food & Wine Festival’s PR team was based, and where many of the star chefs stayed during the festival.

The festival entrance to the Whole Foods-sponsored Grand Tasting Village lays squarely on the doorstep of America’s Riviera, 13th Street & Ocean Drive in South Beach. Fans start lining up at 10:30 am in the hot Miami morning sun.

Getting into the Grand Tasting Village takes about 20 minutes, with thousands of people snaking around stanchions until they reach Check In, where they receive a Tasting Glass (more on that later), and a Buick-emblazoned Gift Bag containing a wackadoodle array of Diet Pepsi, Badia steak seasoning and olive oil, Ziggy Marley roasted hemp seeds, a Kingsford can coozie, Cape Cod potato chips and Goya guava nectar.

See the rest of the story at Business Insider

Please follow The Life on Twitter and Facebook.

They Might Be Selling New York's Most Famous Nude Hipster Hotel...


The Standard Hotel NYC

The owners of New York's Standard Hotel in the Meatpacking district are thinking about selling the property in a deal that could be worth $300 million, according to Crain's New York Business.

The hotel is reportedly being quietly shopped around by Dune Capital Management and Greenfield Partners who control a majority stake in the property.

The Standard, which sits above the High Line park on NYC's far west side, has been a popular venue for celebrities, nightlife, and foodie culture in NYC since opening in 2009. And its floor-to-ceiling windows, which overlook the High Line, have caused a stir.

Anyone who is thinking of buying the hotel would have a true party mecca on his hands.

The Standard Hotel is in a prime real estate location in New York's trendy Meatpacking district.

Source: Standard Hotels

It's also stands right over the High Line park, a major tourist destination in Manhattan.

Source: Standard Hotels

The modern interior was a part of the reason its 2009 opening was such a success.

Source: Vanity Fair

See the rest of the story at Business Insider

Please follow The Life on Twitter and Facebook.

Chinese Luxury Spending Plummets At Home As It Skyrockets Abroad


China's luxury market

As always, we take their numbers with a grain of salt, but a new report by the Beijing-based World Luxury Association holds that Chinese consumers spent a relatively spare US$830 million on luxury items domestically from January 20 – February 20, a 53 percent drop from last year’s spending spree, but a whopping $8.5 billion overseas, an 18 percent increase year-on-year.

Price considerations remain the key driver of overseas luxury spending, with 93 percent of mainland Chinese consumers surveyed by the WLA saying they were motivated primarily by lower prices abroad.

Nothing really new here, aside from signs that the current, chillier luxury environment in China — along with lower prices — is simply sending more big spenders abroad, where they can make more private big-ticket purchases.

Regardless of higher prices, there are some indications that we can expect more domestic shopping in 2013, particularly among urban female shoppers. As China Daily recently pointed out:

According to a report conducted by France-based market research company Ipsos, nearly half of Chinese urban women intend to buy luxury goods and more than 60 percent plan to buy bags, dresses, shoes, accessories and jewelry.

The survey, conducted during last August to October, covered 30 first to fifth-tier cities and surveyed 4,043 20- to 45-year-old women on their buying habits, relationships with brands, lifestyle, values and attitudes. The average monthly household income of these women was 15,925 yuan.

It showed that 43 percent of the respondents intend to buy some luxury products in 2013. Bags, dresses, shoes and accessories are the most popular, with 68 percent planning to buy them. A total of 66 percent want jewelry.

These indications fit with Jing Daily’s expectations for 2013: that luxury demand and consumption will show a rise over 2012′s tepid growth, but consumption trends will be different from the boom years of 2010-2011, and though many leading brands will slow their physical expansion efforts, pent-up inland demand will show in e-commerce sales and Hong Kong retail stats.

As Zhao Ping, deputy director of the Institute of Consumer Economic Research at the Ministry of Commerce in Beijing recently told china.com.cn, despite the recent slowdown in the domestic Chinese luxury market, Zhao expects a rebound over the next several years as more consumers — particularly in lower-tier cities — join the middle class and look to show off their new-found status.

Please follow The Life on Twitter and Facebook.

Join the conversation about this story »

Red Bull Slammed After Winners Of 'VIP Trip' Wind Up On A Nightmare Vacation To Belgium


It was supposed to have been the VIP trip of a lifetime to the Belgium Grand Prix.

But Red Bull has been censured after sending competition winners on a budget haul dash across three countries, making them share a bed and then sending them home early after they were barred from entering the race's VIP enclosure.

The Advertising Standards Authority (ASA) has criticised Red Bull for misleading the winner of a competition which stated: "Win a VIP trip to watch the Belgium Grand Prix."

The winner complained to the watchdog after a nightmare 48-hour round trip which offered little in the way of VIP frills. Instead of an upgraded flight to Brussels, the winner and his guest were told to take a budget flight to Cologne airport in Germany and then make their own way to a hotel in the Netherlands.

Red Bull did "not make clear that, other than the flights, winners would have to organise their own travel", the ASA reported.

The complainant had received an email indicating that "the prize consisted of stay in a 4-star luxurious spa hotel". But not only was the hotel not even in the country in which the race was taking place, it did not boast any kind of spa and the winner and his brother were forced to share a bed in a double room, instead of being allocated a twin.

The winners had to drag their luggage from Holland to the Formula 1 race-track in Belgium because "no arrangements were made for him or his companion to store their luggage at the event".

When they got to the circuit they were not allowed to use any VIP facilities. The pair were given ordinary grandstand tickets along with thousands of other fans. To rub salt into the wound, the pair had to leave the race early in order to catch their return flight – this time from Brussels.

The watchdog upheld the winner's complaint that he "had to share a bed with his brother despite requesting two single beds, the general organisation in which the airport, hotel and event spanned three different countries, that their suitcases had to be taken to the event and that they had to leave the event early due to the timing of the return flight".

Red Bull argued that the VIP description was accurate since the Grand Prix was "one of the most prestigious races on the F1 calendar". They said the advert did not claim that event tickets were VIP and that the VIP headline referred to "the entire package that entrants could win, which included tickets to the event, flights and accommodation at a 4-star hotel". Red Bull offered the winner compensation for having to leave the event early.

But the ASA said the term "VIP" would most likely be understood by readers as "exclusive" treatment, and specifically "non-standard", so they would not reasonably expect budget airline flights. "Given that the Grand Prix issued tickets that included admission to a VIP area, readers would expect the winning tickets to include this," the body also found.

Red Bull "did not make clear that, while the event was in Brussels, the winner would have to fly into Cologne airport in Germany and then travel to the hotel in the Netherlands, nor did it make clear that, other than the flights, winners would have to organise their own travel".

The watchdog found that the promoter "had not made available adequate resources to administer the promotion equitably or efficiently" and concluded that the "VIP trip" promotion was misleading and breached the ASA Code.

Please follow Advertising on Twitter and Facebook.

Join the conversation about this story »

5 Classic Paris Cafes To Visit This Spring


Le Bar du Marche Paris

In the age of the internet café and free Wi-Fi at Starbucks, we at Party Earth were wondering, where can you get that old school “I’ll take three hours to drink this artisan latté” experience?

We’re talking about the real deal of café culture, the kind of place you could picture Picasso kicking back to enjoy a charcuterie plate and afternoon glass (or bottle) of wine.

Obviously any café that could ever come close to offering this much intellectual swagger would be located in Paris. Whether you’re looking for things to do in Paris while pondering the ideas of existentialism, or just want to get tipsy on a quaint side street with European hipsters, the City of Light has a café for you.

Rosa Bonheur
2 Allée de la Cascade
75019 Paris

Looking for a place to spend a quintessentially artsy, quintessentially French night out? Rosa Bonheur, named after the famous free-spirited, pants-wearing Parisian bohemian painter is a hot spot to while away a late night enjoying some delicious sangria in a carefree atmosphere.

The café originally opened in 2008, but has only recently gained popularity as a pretension-free hangout spot for hip families, fashionistas, art scenesters and local Parisian hipsters. You can get a bottle of wine for a reasonable price (15 euros!), and dance the night away in the charming wood-framed café or outside on the lawn.

Café Rosa Bonheur is located in the 19th Arrondissement and is accessible through the gates at 7 rue Botzaris.

Le Sans Souci Paris

Le Sans Souci
65 Rue Jean-Baptiste Pigalle
75009 Paris

Le Sans Souci is a charming dive bar and café located in the middle of the popular Pigalle section of Paris. The laid-back attitude at Le Sans Souci – which literally means “no worries” in French – makes it the prefect place to enjoy an affordable draft after a long day of work or exploring the city.

The crowd here is filled with 20-something professionals, international hipsters and drunken intellectuals who all have one thing in common; they love a tipsy chat in a quirky setting. Le Sans Souci is a popular destination so it’s recommended to get there early if you have your heart set on grabbing a seat indoors.

Au Rocher de Cancale
78 Rue Montorgueil
 75002 Paris

Famous French novelist Honoré de Balzac was a regular at the Paris café Au Rocher de Cancale, built in 1846 and popular with locals and foreigners alike ever since. Of all the vintage cafés in Paris, Au Rocher de Cancale has perhaps the most reliably festive vibe and endures as a delicious place to eat, drink or as Balzac did, people watch.

There is certainly no lack of diversity in Au Rocher’s patrons; on any given day you can find students, families and working professionals enjoying French salads, seafood and old school steins. Don’t think that this place is only good for an afternoon drink, Au Rocher de Cancale also offers tasty afternoon brunch perfected with liquor-filled chocolates.

Le Bar du Marché
75 Rue de Seine 
75006 Paris

Nothing says “perfect Parisian afternoon” like the sight of a street-corner café with a red-and-white striped awning, which is just what you’ll find at Le Bar du Marché. This café is known as the epicenter of the “bobo” phenomenon, the mix of classic French bohemian and bourgeoisie culture.

The atmosphere of the bar reflects this trend; the dim lighting and vintage jazz posters create a casual lounge vibe while an intellectual crowd fills the outdoor tables enjoying the simple bistro dining options. The Bar du Marché is by all means a hip option; make sure you’re wearing your trendiest smart/casual attire and in the mood for a croque-monsieur.

La Palette paris

La Palette
43 Rue de Seine
75006 Paris

Paris is full of cafés claiming to have started the “café culture,” but few have the credibility of the iconic coffee houses of the Saint Germain. This famous neighborhood is home to many of Paris’ best-known cafés including La Palette, a favorite of Picasso, Cézanne, and Braque.

To this day the café attracts the elite of the creative world, from the students at the famous art school École des Beaux-Arts to Hollywood A-listers looking to relive art’s golden era. This café has truly withstood the test of time and is still popular among tourists and locals alike for its friendly bartenders, artsy atmosphere, and delicious coffee and food.

This story was originally published by Party Earth.

Please follow The Life on Twitter and Facebook.

Join the conversation about this story »

The Bank Is Selling Allen Iverson's Foreclosed Home In Atlanta For $2 Million


allen iverson house

Allen Iverson is broke despite making more than $150 million during his career. Because of his financial issues, the bank has foreclosed on two of his homes.

Most recently, Iverson's home in Atlanta was foreclosed on and now the bank is selling it for $2 million, according to Zillow.com.

Iverson's home in Atlanta has six bedrooms, nine bathrooms, a pool, and a beautiful outdoor porch area.

In March 2011, Iverson lost his home in Colorado to foreclosure.

Here's the outside of the house

The backyard has a beautiful pool and jacuzzi

There's an outdoor fireplace

See the rest of the story at Business Insider

Please follow Sports Page on Twitter and Facebook.

You May Want To Think Twice Before Buying Those 'Organic' Chicken Nuggets


chickens chicks

A few years ago we found out that chicken nuggets at some fast food chains were processed into a pink goop before they were fashioned into attractive edible bits.

Organic chicken, on the other hand, was supposed to be minimally processed, and convince us that we are eating real chicken again.

An anecdote we read in the Wall Street Journal, by Melanie Warner, author of "Pandora's Lunchbox," has totally changed how we think about "organic" food.

After buying Applegate Farms Organic Chicken Strips, Warner decided to see how they aged, as research for her book.

The results sound revolting:

After about two weeks, the Applegate nuggets, which I'd placed in a Ziploc bag left slightly open, had essentially liquefied, with the outlines of the individual chicken pieces no longer visible. The whole thing was soft and mushy to the touch, and the color had darkened.

Some non-organic tenders from Bell & Evans, on the other hand, remained in tact when she performed a similar experiment (though they reeked).

Warner contacted Chris Ely, one of Applegate's founders, who said that his product may have dissolved because the company doesn't use additives to bind everything together like other manufacturers do.

Even so, they seemed heavily processed, not "minimally processed" as the package stated.

As a reminder, the USDA requires food labeled "organic" to contain at least 95 percent organic ingredients, not counting added water and salt. And it cannot contain sulfites, a type of preservative.

The bottom line think twice before you see the "organic" label on a product and assume it's all natural.

Please follow The Life on Twitter and Facebook.

Join the conversation about this story »

The 10 Wealthiest Cultural Institutions In America


metropolitan museum of art new york city

When many people think of nonprofit institutions with large endowments, they think of well-financed pillars of higher education such as Harvard University.

But financier John Paulson’s $100 million donation last October to the Central Park Conservancy was a powerful reminder that academia does not have a monopoly on multimillion-dollar donations.  In the U.S., museums, orchestras and other cultural institutions also depend on generous patrons for financial stability.

The Metropolitan Museum of Art in New York City, for example, boasts one of the finest collections in the world, and the museum’s $2.7 billion endowment is the largest among cultural institutions in the U.S., according to The Chronicle of Philanthropy.

This generous nest egg, as measured by its 2011 value, grew 14 percent from 2010. Last year, the museum also received millions of dollars in donations from David H. Koch, of Koch Industries, and the estate of socialite Brooke Astor.

While the museum’s wealth dwarfs that of other arts organizations, the total value of the 10 institutions with the largest endowments was $8 billion in 2011, according to The Chronicle of Philanthropy. 

The numbers, while substantial, hardly compare to top-ranked American universities. Harvard University’s $32 billion endowment in the 2011 fiscal year was the highest of any American university, according to U.S. News & World Report, but more than 60 universities in the U.S. have endowments worth more than $1 billion.

Still, only three of the 10 best-endowed cultural institutions saw the value of their endowments slip from 2010 to 2011, while others registered double-digit gains.  The growth has been impressive during a time of market uncertainty.

Here are the 10 largest endowments held by cultural institutions, as reported by The Chronicle of Philanthropy.

Metropolitan Museum of Art: New York, NY

Endowment: $2,696,750,000

Notable donations: David H. Koch gave the Metropolitan Museum of Art $65 million in 2012 to renovate the institution’s plaza and fountains.

The museum also received a $20 million gift in 2012 from the estate of Brooke Astor to support curatorial programs and art acquisitions.

Museum of Fine Arts: Houston, Texas

Endowment: $1,011,086,744

Notable donation: Caroline Wiess Law, daughter of the founder of the gas and oil company now known as ExxonMobil, bequeathed an estimated $400 million to the museum when she died in 2003.

Smithsonian Institution: Washington, D.C.

Endowment: $971,200,000

Notable donation: In addition to Koch’s commitment to the Metropolitan Museum of Art in 2012, he also donated $35 million to the Smithsonian Institution’s National Museum of Natural History for the construction of a new dinosaur exhibition hall.

See the rest of the story at Business Insider

Please follow The Life on Twitter and Facebook.

The Parents Of 2 Brilliant Students Have Some Advice For Raising Smart Kids


jack andraka intel science fair

Jack Andraka is a 16-year-old who won last year's Intel science fair for developing a simple cancer detection test. His brother Luke, 18, is a two-time Intel competition finalist and MIT Think Award winner.

Forbes' John Nosta recently spoke to Jack and Luke's parents, Steve and Jane Andraka, about how they raised such smart kids.

It boils down to one central tenet: Teach your kids to think through problems and innovate solutions on their own.

The Andrakas offer a lot of smart advice about raising kids who think independently in their interview with Nosta, which can be found here.

Here are a couple of practical takeaways from the interview:

  • Encourage your kids to focus on a single project: "When you focus just on a specific goal or problem and ‘wrap your head around the goal’ it opens up all kinds of creativity and problem solving," the Andrakas said.

  • Don't have too many rules: Rules can kill creativity, so the Andrakas keep it simple: "Treat people with respect, do your homework, be honest and try to be safe."

  • Set expectations early: The Andrakas have set the expectation that their kids would attend college since they were in elementary school.

  • Be proactive: Don't wait for opportunities for your kids to appear  seek out extracurriculars and higher level competitions that the school might not even know about.

SEE ALSO: A Couple Of Parenting Tips From The French, Who Are Great At Raising Kids

Please follow The Life on Twitter and Facebook.

Join the conversation about this story »

Ram's Farmer Tribute Made TED's 10 Ads Worth Spreading


dodge ram super bowl god farmer

Every year, TED creates a list of 10 ads that are worth spreading.

From the well-known (Ram's Super Bowl tribute to the farmers of America) to the obscure, TED selects commercials that truly elevate the advertising medium and actually deserve to go viral.

These are the ads you don't want to fast-forward through.

Coca-Cola's ad reveals the inspiring and contagious acts of kindness people do when they think no one's watching, as captured by security cameras.

Watch "Security Cameras" by Y&R:

Britain's Channel Four created a high-paced ad celebrating strength and profound determination of the Paralympians.

Watch "Meet the Super Humans," by 4 Creative:

Dodge Ram pays tribute to the farmers of America in this two-minute-long ad with poignant photography and the words of poet Paul Harvey, "On the eighth day, God looked down on his planned paradise and said, 'I need a caretaker.' So, God made a farmer."

Watch "The Farmer" by The Richards Group:

See the rest of the story at Business Insider

Please follow Advertising on Twitter and Facebook.

Anne Hathaway's Prada Oscar Gown Ruffled Feathers At Valentino


Anne Hathaway Oscars 2013On the Oscars red carpet, Anne Hathaway shared how she had only picked out her dress two hours before.

She chose the pink Prada for it's "simplicity" and because she found out her original dress choice would be similar to another one worn on the red carpet. 

The problem?

She had supposedly already committed to wear a Valentino gown, Women's Wear Daily reported.

The design house had already alerted the media that Hathaway, the favored Oscar winner for supporting actress, would be wearing one of its designs. 

Hathaway has a long-time relationship with the design house and her snub "ruffled some feathers," WWD reported.  The designer even made her a custom gown for her wedding last year. 

Valentino could have also used the exposure -- the only other major celebrity wearing one of its gowns was Jennifer Aniston, who shares a publicist with Hathaway. Aniston's outfit was named on some of the "worst-dressed" lists. 

In a statement, Hathaway apologized for the snafu. 

"Though I love the dress I did wear, it was a difficult last-minute decision as I had so looked forward to wearing Valentino in honor of the deep and meaningful relationship I have enjoyed with the house and with Valentino himself," Hathaway said, according to WWD. "I deeply regret any disappointment caused.”

SEE ALSO: The Best And Worst Fashions From Oscar Night >

Please follow The Wire on Twitter and Facebook.

Join the conversation about this story »

An Australian Billionaire Is Building A Nearly Exact Replica Of The Titanic


titanic ii Grand_Staircase

Last year, rumors popped up that Australian billionaire Clive Palmer was working on cloning a dinosaur.

Whatever happens to those plans, it's clear that Palmer has a taste for recreating the past.

The 58-year-old, who made his fortune from natural resources like coal and iron, is now bringing the world's most famous ship back to life.

In New York on Tuesday, he unveiled images of Titanic II, a replica of the ocean liner that sank on its maiden voyage in 1912, claiming 1,502 lives.

To offer 21st century cruise-goers the chance to sail on the Titanic, Palmer created the company Blue Star Line last year. The ship is being designed by Finnish company Deltamarin, and will be built by Chinese state-owned CSC Jinling Shipyard, Reuters reported.

While the new Titanic will have air conditioning and modern safety equipment (and enough lifeboats for all of its 2,435 passengers and 900 crew), it will be made to look just like the original. Passengers will even be divided into three classes, and will be kept from mingling with those outside their station.

Construction should begin next year, and Palmer hopes to have the ship cruising by 2016. He has not specified how much the project will cost, but says the funds are coming from his own pocket, and that he'll spend what it takes to get the Titanic back on the ocean.

From the outside, the replica will look just like the original, but with enough lifeboats for everyone on board.

The first class cabins will be decorated like they were in 1912.

The smoking room on the original Titanic was reserved for male passengers, but Blue Star Line does not specify if that will be the case on the replica.

See the rest of the story at Business Insider

Please follow Getting There on Twitter and Facebook.

Larry Ellison Just Bought An Airline — Here Are All The Other Extravagant Things The Billionaire Owns (ORCL)


Larry Ellison OracleLarry Ellison just added another prize possession to his personal portfolio: his own Hawaiian airline.

As we previously reported, Ellison was considering buying Island Air to help people get to Lanai, the Hawaiian Island he owns. Today, the sale became official; terms of the deal were not disclosed.

Buying an airline is a very Ellison-like thing to do. Ellison is a pilot who collects planes. His son is a stunt pilot, too.

And when the fabulously wealthy CEO of Oracle isn't running his company, he spends a lot of his time collecting extravagent things, like mansions, yachts and golf courses.

An island

Ellison bought 98 percent of the Hawaiian island, Lanai, a part of the state of Hawaii that was sale for between $500 and $600 million.

He's turning it into an eco-friendly experiment, building out its resorts and sustainable farms.

A gigantic mansion in Woodside, Calif.

His flagship mansion was styled to look like a feudal Japanese village. It has a two-acre man made lake. 

The house is worth about $110 million.

He also owns a gigantic golf course

Ellison owns a 249 acre estate in Rancho Mirage, California known as Porcupine Creek. It includes a private golf course.

It cost him $42.9 million.

See the rest of the story at Business Insider

Please follow SAI: Enterprise on Twitter and Facebook.

Meet The Four Fabulous Heiresses To The Clarins Cosmetics Fortune


courtin clarins girls

Ever since their first New York Fashion Week show in 2011, the Courtin-Clarins cousins have become a major hit in society circles and the fashion world.

They've been featured in Vogue and on Vanity Fair's "best dressed" list, and are constantly sent clothes, shoes, and accessories by big-name brands.

Tall, gorgeous, thin, and French, the Courtin-Clarins cousins seem to have it all. They are staples at Paris Fashion Week, and have already been spotted at the front row of Chanel this season, not to mention a slew of NYFW shows earlier in February.

But who are they?

New York Magazine, The New York Times, and Refinery 29 have all set out to answer that question, yet we still know surprisingly little about the four fabulous cousins.

Courtin-Clarins Virginie and Claire

Here's what we do know: Virginie, Claire, Prisca, and Jenna are the heiresses to the French cosmetics brand empire, Clarins. Their grandfather Jacques Courtin-Clarins founded the company in 1954, and it is now worth an estimated $3.6 billion, although that number is disputed and has most likely grown since the Courtin-Clarins family took the company private in 2008.

Their fathers, Olivier and Christian Courtin-Clarins, now run the company, and were worth a combined $2 billion in 2012. Thanks to them, Clarins Group now owns the fragrance divisions of top jewelers David Yurman and Swarovski, has an 85 percent stake in French fashion house Thierry Mugler, and a 10 percent stake in French cosmetics company L'Occitane. 

Virginie and Claire are the daughters of model Corrine Maine de Biran and Christian Courtin-Clarins. Virginie is 27 with long blonde hair that she wears in a signature fishtail braid, and graduated with a business degree from an unknown university in France. She owns her own swimsuit line, Luz, and lives in Paris. 

Her sister Claire is the tallest Courtin-Clarins at six feet, and has cropped blonde hair with large blue eyes. She studied architecture and graphic design, is 26 years old, and is an artist living in NYC

Their paternal cousins are the 26-year-old twins Prisca and Jenna. Prisca is the only brunette of the four women, and co-owns a trio of nail salons in Paris called The Nail Factory. She also lives in Paris, and is good friends with Nicola Fomechetti, the designer for Mugler. 

Courtin-Clarins Prisca and JennaJenna, on the other hand is blonde, with a self-described "rock n' roll" style, and is a photography student living in Paris. Both twins are the daughters of sculptor and model Anneli Courtin-Clarins and Olivier Courtin-Clarins.

All four women are brand ambassadors for Clarins and shareholders in the company. They've been testing beauty balms and makeup for their grandfather since they were children — from moisturizers to cellulite cream — and have launched their own "It Kit" of Clarins essentials as well as a Beauty Blog where they post videos of themselves explaining the correct way to use the products.

Additionally, the cousins are on the supervisory board for Clarins, and help choose the brand's charities. Their main project has been their involvement with the nonprofit organization FEED, run by George Bush's granddaughter Lauren Bush.

As the Clarins brand continues to become a bigger name in the US — now selling at stores like Sephora, Macy's, Bloomingdales, and Nordstrom— chances are we're bound to see much more of the Courtin-Clarins clan.

SEE ALSO: Introducing The World's Hottest Billionaire Offspring

Please follow The Life on Twitter and Facebook.

Join the conversation about this story »

Pippa Middleton Gets New Gig As Brother James' Bakery Business Goes Into Debt


Pippa Middleton Waitrose magazine

After Pippa Middleton's entertaining book "Celebrate" was panned by critics last October, the younger sister of Kate Middleton has been downgraded to penning a monthly column for Waitrose Kitchen — the in-house magazine of British supermarket chain, Waitrose. 

The magazine's editor announced the news, saying, "Pippa will be an excellent contributor to the magazine, bringing with her a wealth of experience of entertaining, gained in part from working at her family's party business."

The column, which debuts March 28, will be called "Pippa’s Friday Night Feasts" and will feature her "own passion and enthusiasm for food and entertaining."

While Pippa stated, "I'm delighted to be writing for Waitrose Kitchen, a magazine that's always been a source of inspiration to me, for its extensive spectrum of food and beautiful style," The Daily Beast's royals expert Tom Sykes calls it "One of the most bizarre cases of royal selling-out ever seen."

But Sykes sympathizes, adding "Her association with the royal family has made her virtually unemployable in any normal job ... Pippa was banned by the palace from promoting her recent book on entertaining, and forced to decline an opportunity to be an NBC special correspondent."

Meanwhile, Pippa and Kate Middleton's younger brother, James, has reportedly been forced to turn to family for financial help after his cake business fell £17,000 into debt.

"James Middleton's family have secured an overdraft after the loss made by his company Nice Group, which sells bread, cakes, flour and sugar confectionery," reports the Daily Mail"He owes creditors £32,575."


James Middleton, who dropped out the University of Edinburgh in 2006 after a year to start his own business, explained to MailOnline:


Nice Group is a start-up company and as you can imagine there are overheads needed to start a company. I made the decision to finance the business myself along with a loan rather than go to investors. This has its pros and cons, it does mean things don’t move as quickly as I would like but it does mean I keep complete ownership and control over my company. Further down the line I may look to open the doors for investors but I will see how things go.


It is not uncommon for start-up companies to make a loss in the early stages of development and it is not something I am concerned about right now. On the contrary I am very excited as after running a pilot over 2012, Nice Cakes will be officially launching later this year with a brand new website and range of products which I am very excited about.

While the Middleton parents, Carole and Michael, run the hugely successful Party Pieces website, it seems their offspring have yet to master the family business.

SEE ALSO: Kate Middleton flaunts her baby bump for the first time >

Please follow The Wire on Twitter and Facebook.

Join the conversation about this story »

One Of These Six Israeli Soldiers Could End Up Being Miss Universe


female IDF soldierAt least six of the 20 nominees competing for the title of Miss Israel this year will know how to field strip an M-16 military rifle, and have the strength to knock out a few pushups during the talent portion. 

That's because the Israeli Defense Forces (IDF) have six beauty queens in their midst vying for the crown— with specialties like paratrooper instructor, Air Force operator, squad instructor or logistics specialist.

“When I got into the competition, my commanders were really supportive," Sgt. Adi Levy told the IDF Blog. "Their encouragement is something I really appreciated.”

The women are competing to represent their country later this year in the Miss Universe pageant, going up against contestants from over 75 countries.

One of the nominees, Sgt. Gaya Shukun, believes the military and modeling can go hand-in-hand:

“I have a feeling that a lot of the models join the competition because they want to represent their country. Now that I’m in the army, I have a better insight into the real Israel. I see how badly we’re portrayed in the international arena, and as an IDF soldier, I feel a responsibility to better explain what really happens here.”

But 2nd Sgt. Zoe Rousal is even more candid about what the competition means to her:

"It doesn't matter how much s--- our country has to eat, every year there will always be a pageant. It's a change from all the wars and the problems . It doesn't matter what happens, there will always be a beauty queen."

Here some more photos of the soldiers, courtesy of Tom Bilkas, Bamahane:

female IDF soldiers

female IDF soldiers

female IDF soldiers

SEE ALSO: Thailand Has Great Military Training Until You Realize What's On The Menu >

SEE ALSO: BI Military & Defense Facebook Page

Please follow Military & Defense on Twitter and Facebook.

Join the conversation about this story »

Browsing All 49146 Browse Latest View Live