Jeff Rusinow

Would I invest in something like this again?

Mon, 21 May 2012 20:02:00 -0400

The next generation of radiation used to treat cancer - particle accelerators that shoot a very intense yet precise proton beam, causing less damage to the surrounding tissue — is already in the marketplace, but at only about 40 working facilities in the world. The challenge? Design future treatment centers to work in a much smaller space (currently they are housed in a huge warehouse like room) and cost a lot less than the current $100 million price tag.

I invested in this Madison, Wisconsin-based startup, Compact Particle Acceleration Corporation (CPAC), a few years ago. The good news is that the secret sauce still seems to be encouraging, and there is ongoing technological progress and genuine hope that the first CPAC unit will be commercially available in 2015.

The bad news? It’s taking forever, and it understandably requires a ton of money to get something to a finished product. Not to mention, of course, FDA approval, medical insurance reimbursement codes, getting through the long sales cycles at hospitals, etc.. It’s a topic that I didn’t cover particularly well in the chapter on angel investing in my book. If you decide to invest in a medical device/drug discovery/diagnostic startup, prepare yourself for much more often than not a very long ride, requiring lots and lots of follow on rounds to keep the business going and to finally have completed product, sold to customers around the globe.

Look what recently crossed the driveway - a large Gila Monster!

Sat, 19 May 2012 16:42:19 -0400

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Look what recently crossed the driveway - a large Gila Monster!

Ready for owling (and I don’t mean the new version of...

Sat, 19 May 2012 10:01:00 -0400

Ready for owling (and I don’t mean the new version of ‘planking’), or viewing anything else that moves in the night! Tried out my new night vision goggles recently in WI and first ‘interaction’ was eye-to-eye with an opossum ten feet away that I otherwise would never have seen in the dark. Pretty amazing.

Jamie Dimon, just what is that on your face?

Sat, 12 May 2012 13:30:00 -0400

In my book ‘What I Really Think - The Business Chapters’, in the chapter On Investing, I make the point: “It’s hard enough to make money in the stock market without the inescapable backdrop of the cyclical market and sector crashes due to the greed and incompetence of Wall Street bankers.”

These past couple of days we’ve seen similar ineptitude play out in the banking industry by none other than Jamie Dimon, the CEO of JPMorgan Chase, who was arguably the one top guy who escaped The Stink forever now attached to those cast of characters who back in 2008-2009 almost took our country to it’s knees. To his credit, Dimon’s bank had a nearly unblemished record during the financial crisis.

So much for staying ‘clean’; Dimon just screwed up royally, and is now destined to have The Stink for the rest of his career. He will forever now have a black mark on his legacy.

Jamie Dimon is one of those incredibly smart guys who possesses a certain swagger. It works well for him when things go reasonably well. But after announcing Thursday that under his watch, JP Morgan took a $2 billion loss as a result of portfolio hedging that got completely out of control, Dimon now fits the mold of the stereotypical banker who has pleaded over the years for less regulation, only to become another poster boy for just why we need oversight. What is it about their inner workings that they have to push the envelope until they screw up? They can’t seem to help it; it’s almost like it’s part of their DNA.

The Volker Rule is a regulatory law meant to prevent overly risky trading. Dimon himself, along with his hired lobbyists, went regularly to Washington and argued strenuously, successfully, for loopholes that would allow for trades like the ones that led to what will turn out to be a ONE BILLION DOLLAR swing in net income performance for the quarter at JP Morgan.

It’s egg! Jamie Dimon has admitted as much. It will be interesting to see how he spins it in the months ahead and when he will no doubt be called to testify again to Congress.

Next time you buy an organic vegetable...

Thu, 10 May 2012 22:02:00 -0400

…remember just how much tender loving care goes into growing and harvesting it, and getting it to your market. Today had the opportunity to tour an organic farm run by Nick Lapham, fellow board member at the American Bird Conservancy, prior to our meeting. Wow, is this process labor intensive. I was blown away with the attention and passion of the people on his farm.

With my sister Amy in Tennessee celebrating our...

Wed, 09 May 2012 08:57:01 -0400

With my sister Amy in Tennessee celebrating our born-on-the-same-day birthdays; then birding at the Great Smoky Mountains National Park. Highlights: saw/heard the most Black-throated Blue Warblers in one day in my entire life, and Junco babies!

Kentucky Derby watching at the perfect spot, in Destin, Florida!

Sun, 06 May 2012 09:56:00 -0400

Ky. Derby watching at the perfect spot!

Destin, Florida

Kentucky Derby watching at the perfect spot, in Destin, Florida!

Not my amberjack!

Sat, 05 May 2012 22:53:28 -0400

Not my amberjack!

Strutting Their Stuff

Sun, 29 Apr 2012 10:12:00 -0400

Last night heard a chorus of Boreal Owls for ABA #636, then made the pre-dawn trip to see dozens of Greater Sage-Grouses dance and strut in front of six hens. ABA #646. Here’s a photo from Google Images of their display:

Heading back to Walden, at sunrise:

Colorado at sunrise!

Sat, 28 Apr 2012 11:17:00 -0400

After seeing #644 (Gunnison Sage-Grouse) at the crack of dawn at a lek near Gunnison, we headed through the mountains back toward Denver to check out Boulder, before we’ll head north to hopefully see a Greater Sage-Grouse tomorrow morning.

Paris Continued:

Sat, 21 Apr 2012 16:06:00 -0400

Now in London, wrapping up the trip. But first, some photos earlier from Paris:

I’m not kidding, the entrance to the new Abercrombie & Fitch store:

The ever-present pastries:

The dome in Galleries Lafayette:

At Rodin Museum, his works before they were cast in bronze were a couple of my favorites (this one - Burghers of Calais):

Claude Monet painting in Museum l’Orangerie:

And finally, photo of me reaching 10 mile mark, haha:

Back in Paris

Mon, 16 Apr 2012 19:05:10 -0400

Arrived this morning, spending the next few days here:

'Mad Men' Brings Back Memories

Thu, 29 Mar 2012 19:53:00 -0400

I grew up in a community between Alexandria and Mt. Vernon called Hollin Hills (it has it’s own Wikipedia page (link). All of the 450 homes were designed by Charles Goodman and built by Robert Davenport, mostly in the late 1950’s and 1960’s. The community was sort of the ‘island’ for creative, open-minded types in a sea of conservatism; it attracted artists, writers, newspersons and liberal thinkers. When ‘Mad Men’ was first broadcast, I was immediately brought back to my youth: we lived in a home like the one here, similar to the one that just won The Washington Post “Mad Men” Look Contest (link).

Why I'm Shorting JCPenney

Tue, 20 Mar 2012 00:43:00 -0400

A few years ago I wrote what continues to be the only book published about Kohl’s Department Stores (paperback). In the chapter reviewing our business model and how our Hi-Lo pricing strategy helped create a ‘wedge’ between then discounter Target and a traditional department store like Macy’s, I spoke of how EDLP (Every Day Low Pricing) was a fool’s errand:

“We had an aversion to the notion of EDLP… Sears had tried it in the 1980’s, only to abandon the strategy after sales plummeted and market surveys revealed that their core customer thought they were no longer getting the same kind of deals. In my mind, the only time EDLP works is when the truly lowest price retailer can put a stake in the ground and claim they they will always have the lowest prices. Only one guy can do that, and their name is Wal-Mart.”

This is a no-brainer. The typical shopper at Penney’s is a Mom and often breadwinner who takes pride in searching for a deal. She enjoys coming home with a sense of satisfaction that she was successful in her quest. I can guarantee you that if you set up two tables of the same sweaters in opposite ends of the Missy apparel department in a store, and on one you have a sign that says ‘Everyday Low Price $29.99’ and the other says ‘Save $30.00, 50% OFF, Sale $29.99’, there will be no contest. The sale table will always win.

A couple of weeks ago I finished the Steve Jobs biography, which included the successful contributions of his Senior VP of Retail, Ron Johnson, and his valuable role in developing the concept of what has become one of the most successful retail formats in history - the Apple Store. Last year, Johnson left Apple to become CEO of Penneys (after 11 years with his former company, it’s reported he made over $400 million). He is the architect behind JCPenney’s new pricing strategy.

The idea that you can transfer the success of Apple’s pricing to a department store like Penney’s is just way too much of a leap. You’re jumping off the cliff.

I love the Ellen DeGeneres ads. I also love to make money. I sense an opportunity.

Playing with the Pro

Mon, 19 Mar 2012 22:13:34 -0400

Last week had the pleasure of playing with professional golfer Jennifer Song in a pro-am charity event before the RR Donnelly LPGA Founder’s Cup. On the last hole of the round, a par 5, after all of us in our foursome had hit our third shots in the scramble best ball from 89 yards out, Jennifer proceeded to eagle the hole for us! And yesterday, she finished tied for 6th in the tournament, winning $41,000! Congrats!

Snow in Scottsdale, 80 Degrees in Milwaukee

Sun, 18 Mar 2012 13:18:00 -0400

Egads. Every time I see Sen. James Inofe (R-Oklahoma), I wonder: has he ever been to a place where there are/were glaciers? We are seeing environmental changes in our lives that are moving at warp speed.

Dr. Richard Carmona in the House

Sat, 17 Mar 2012 01:56:21 -0400

It was a privilege to host the former U.S. Surgeon General under President George W. Bush, Dr. Richard Carmona, at our home for a reception. Dr. Carmona, who all of his career was an Independent until recently becoming a Democrat, is running for the U.S. Senate seat currently held by retiring Sen. Jon Kyl. Team Obama strongly encouraged Dr. Carmona to run, clearly believing that Arizona could be in play this November. For more: (www.carmonaforarizona.com).

IBM selects Louisville with Asthmapolis technology

Thu, 15 Mar 2012 23:34:00 -0400

A startup I’m involved in, Asthmapolis (www.asthmapolis.com), tracks inhaler usage and the location of asthma attacks. IBM today announced that it has selected Louisville to receive one of their Smarter Cities Challenge Grant; the city will be using our inhalers that are fitted with GPS systems and microchips: (http://www.lanereport.com/2861/2012/03/breaking-ibm-selects-louisville-for-smarter-cities-challenge-grant/):

Scenes from Recent Travels

Thu, 15 Mar 2012 09:48:19 -0400

Right after the performance:

Black truffle stash at the restaurant (!):

Back in Phoenix - Carvin Jones wailing on his guitar playing Stevie Ray Vaughan in the audience:

In Tonto National Forest on the top of a mountain with Roger:

Proud Papa watching Brent perform with Allen Stone on Jimmy...

Thu, 15 Mar 2012 09:28:33 -0400

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Proud Papa watching Brent perform with Allen Stone on Jimmy Kimmel Live! Thanks Tim for risking expulsion from the show in this ‘no camera zone’!