Social Networking: The Good, the Bad, and the Ugly

It took me a long time to even get interested in social networking. However, many people I respected in both business and politics were telling me I was way behind the curve. Furthermore, it gets a little old to have your kids constantly call you a "dinosaur" because you are not up to speed with this or that current trend. This is all the more so the case when it deals with the Internet.

I started my MySpace and Twitter accounts a couple of years ago, but did very little with any of them. I started a Facebook account later, but sat on it for months as well. Today, I use Facebook more than any, Twitter is catching on, and I have no idea how to even log in to my MySpace account. That is okay though, because my kids keep assuring me that MySpace "is so high school." Who wants that?

Facebook

I update my Facebook account several times a day. If it is midday and there is a few hours between my last update, I get a little stressed out. I have to find something to post! I often go to Fox News and other websites and glance at the headlines and try to give them my own unique spin. I also post articles of mine from BizPlusBlog.com, AmericanDailyReview.com, Reuters.com, ChicagoSunTimes, or one of the many other sources that are out there. Placing those articles on my Facebook "wall" leads them being found all over the place after that. This is one of the strengths to Facebook.

Facebook has enabled me to fast track relationships and find new friends all over the country. It allows me to test ideas before they become an article or give me some feedback that I use on my radio show, the Price of Business. If my 1,000 plus friends didn't like it on Facebook, why force the thousands who listen to my show to be subject to it? Many new people who have become my friends on Facebook have told me they have done so in order to influence some of my content on the radio and else where, which is great.

Twitter

Twitter has been harder for me to warm up to. I understood the value of Facebook almost immediately. You can place your articles, promote, your ideas, do more detailed searches for friends and potential friends, and more. This is not the case with Twitter or, it was not nearly as easy to ramp up.

One of my biggest concerns is that I am a writer as well as a radio host, and it is so challenging to put anything of interest or value in 140 characters. Who are they trying to kid? To me, I get paid by the word, so the type of word economy I am learning is amazing.

I have, however, seen Twitter work. The circulation value of events, interviews, ideas, etc., is amazing. I have just over 200 followers at this time, so when I write something and it is "Retweeted" to others, you enjoy the multiplier effect. My friend Felicia Cravens, who is one of the more sophisticated individuals I know at the art of the Twitter (and a leader of the Houston Tea Party effort) has over 2,000 followers. Once she gets hold of something I write, it flies from there. I have had a few questions answered to news stories or people have given me sources for shows or articles. I am beginning to see the power.

To sum up...

I enjoy Facebook and Twitter and even see their practical value. My use of both, I am sure, will only grow. On the other hand, as a writer, I find it a little distracting. The pressure to convey a powerful idea in 140 characters, has made me economize in words, even when I should let it out a little. I will have to learn to balance Facebook and Twitter with my other media responsibilities, but I feel confident that social networking are here to stay.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. Eric Bolling of Fox News and Fox Business says that Price’s Blog “is very influential and moves the blogosphere.” Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

Chuck Grassley Provides Signs of Life for GOP

For months, and maybe years, Republican rank and file have been seeking signs of life from a party that has been limping along for ages. The GOP has become the "me too" party, or "the light" version of the Democrats, or many other cliches that can be used for a party that has become dysfunctional.

Every once in a while, we see signs of hope. Many were excited when John McCain chose Gov. Sarah Palin as a running mate. Gimmick or not, it was nice for the dominant moderate force of the party to recognize that conservatives still matter. The latest cause for excitement has come from an unlikely source, Senator Chuck Grassley (R-IA).

I've known Grassley for decades and almost worked for him back in the 1980s (instead I worked for Sen. Gordon Humphrey of New Hampshire). He was then, and still today, anything but an "activist" Senator. He is very soft spoken and not particularly sharp witted or sharp tongued. He is a fairly typical "middle America" personality. Subdued, soft spoken, and matter of fact. He is one of only 28 Senators in history to have made more than 10,000 votes, something he wears as a badge of honor (something that I deem a little suspicious). The 75 year old has been in the Senate since 1981 and in the US House for six years before that. In other words, he has almost 35 years of working in DC behind him.

This unlikely hero for Conservatives is getting attention for taking President Obama on in a way that we are not use to seeing these days. Politics is too genteel for my liking and the US Senate even more so. This very elite club is known for treating its colleagues and the President with "kid gloves." Meanwhile, millions of Americans are looking for someone to speak up. Enter Chuck Grassley.

The Senator, in his 70s, has used an unlikely vehicle for getting the message out as well. Pulling a chapter out of Barack Obama's book, his platform, of all things, is Twitter. Today, the Senator gave the following status report, ignore the grammar, the Senator is taking typical Twitter liberties:

"Pres Obama you got nerve while u sightseeing in Paris to tell us 'time to deliver' on health care. We still on skedul/even workinWKEND."

This 140 characters (give or take a few) has started a social networking revolution and has gotten conservative Republicans excited again. It is time for the GOP to start drawing lines in the sand and holding this Administration and its minions accountable for its arrogance. That is the kind of thing that could revive the dying Republican brand.

This particular issue, the rationing of health care, is absolutely crucial in fighting to defend the greatest health care system in the world (warts and all). If Republicans want to be relevant again, they will speak with force and passion, use Twitter, Facebook, Myspace, YouTube and every other tool they can think of to win back the hearts and minds of the American people. Our freedoms and future hang in the balance.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. Eric Bolling of Fox News and Fox Business says that Price’s Blog “is very influential and moves the blogosphere.” Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

The Most Popular Google Searches of 2008

As each year comes to a close we tend to look back at some of the things that marked the twelve months before. One of my favorite areas is to review what was hot on the Internet and there is no better place to find such information than at Google's Zeitgeist. Here is the list for 2008:

1). Sarah Palin. In one of the worse years for Republicans and conservatives in decades, Sarah Palin came on the scene and showed us that there still may be some reasons to hang around the GOP. Palin was courageous and straight talking. Sure, she had some difficulty navigating the incredible platform given to her of national office. But I believe she served he cause well, in the balance, and I will be very surprised if we don't see her again very soon.

2) Beijing 2008. The historically backward and private China allowed itself to be in a fish bowl in a most profound way. It spent the largest amount of money ever on its opening ceremony and provided a show that few will forget. In spite of the good impression, we still heard stories of secrets kept and lies made (for example, the ages of their gymnists). These Olymics largely dominated the headlines the first of 2008.

3) Facebook login. I guess people want to know how to get on one of America's most popular social network websites. Where is that page, anyway? I am working on my own page. After all, if it is good enough for Fox News and CNN, it is good enough for me.

4) Tuenti. This "Spanish Facebook" created quite a stir in 2009 and was one of the most searched terms of they year. This was the year for social networks. There are numerous social networks in the United States and in the world and four of them are on the top ten list. One of them is from Spain. That is saying something.

5) Heath Ledger. The Dark Knight was one of my favorite films in 2008, mainly because of Ledger. When he wasn't on, I couldn't wait for him to get back on. He was simply that good. The extent of Ledger's Joker was unreal, but his character was one of the most real I have ever seen. His life appears to have been a mess, unfortunately. Movie watchers will miss a great actor.

6) Obama. What a surprise! The first African American to be elected President was the number one Google searched item.

7) Nasza Klasa. This Polish social network was another part of the search craze of 2008 as was number 8...

8) Wer Kennt Wen. This is a German based social networking website. Almost half of the web searches in 2008 had to do with the Internet. That's certainly saying something.

9) Euro 2008. Showing how ethnocentric (if not business centric) I am, I thought this had something to do with foreign currency. But outside the US the only "football" that matters is played iwth a round ball and with people wearing shorts. This was one of the hot topics of 2008.

10) Jonas Brothers. This is interesting. I have many children of all ages (10-22) and none of them seem very interested in this Disney Phenom. In spite of the fact they have zero traction in my home, they are a hot item on the web.

So that's the top ten of 2008. Of course, it could change in the last few days. Who knows how many will put in "Google searches" between now and Janury 1.

Kevin Price is a syndicated columnist whose articles frequently appear at ChicagoSunTimes.com, Reuters.com, USAToday.com, and other national media. Kevin Price is Host of the Price of Business (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at PriceofBusiness.com. Visit the archive of past shows here.

Time Magazine's Best Lists: Worst Business Deals

I have been summarizing my thoughts on Time Magazine's Best Lists over the last several weeks and hadn't even touched their business lists. Until now. I found the magazine's Worst Business Deals" very interesting.

* The Blackstone Group going public. It looked hot after years of some rather amazing deals, but lost 38 percent of its value in no time after going public. In my experience, VC firms are the epitome of feast and famine. It isn't the kind of place one puts the family nest egg in. However, you can't count these guys out yet. The stock market is a long term game. It is only a bad deal if you cash in from the early highs.

* DaimlerChrysler pays to unload Chrysler. After an amazing array of mathematic antics, Daimler actually paid $2 billion to unload the company to Cerberus. With mathematic geniuses like this, is there any question as to why Daimler was going broke?

* Microsoft overpays for Facebook. First it was MySpace and Murdoch, then it was Google and YouTube. Microsoft simply had to get into the social networking phenomenon. The one it bought a stake in was Facebook for $240 million. The deal gives Facebook an implied value of $17 million, but is only expected to make $30 million a year. Time Magazine fears it looks like AOL a few years ago. I agree.

* KKR and Goldman Sach's pull the plug on Harman Industries International. Time notes that "Private equity shop Kohlberg Kravis Roberts & Co. and Goldman Sachs Group's private equity unit pulled out of their $8 billion offer to buy high-end audio equipment manufacturer Harman Industries International, claiming a "material adverse change" in Harman's business. Harman's stock plummeted more than 20%." Harsh indeed!

* Bank of America dumps $2 billion dollars into Countrywide. "Better make that $1 billion — at least that's what B of A's investment was worth as of December 1. Bank of America thought it had picked an opportune time in August to invest in Countrywide's mortgage machine, but the mortgage mess hadn't bottomed out yet." Bank of America was already limping along due to its troubling approach to providing credit to its clients. This situation only makes matters worse.

Some of these stories are not as entertaining or as sexy as some of the others covered, but their implications are far reaching financially. And they are far reaching to investors, customers, and obviously the employees