Blackstone Invests in Soon-Shiong’s NantPharma

Company will become premier provider of bio-derived products and critically needed injectables of the highest quality Los Angeles, CA, and New York, NY, July 24, 2012 – California-based NantWorks, LLC, announced today that a fund managed by Blackstone (NYSE: BX) has invested US$125 million in NantPharma, a NantWorks company whose products include high quality, biologically derived pharmaceuticals. NantPharma operates a number of drug manufacturing and research facilities around the country. In January 2012, it announced the acquisition and redevelopment of a former Pfizer facility in Terre Haute, Indiana, with a commitment to invest $85.5 million to produce critical care injectable and oncological drugs. The new plant is expected to become operational in 2015. California-based NantWorks, LLC, announced today that a fund managed by Blackstone (NYSE: BX) has invested US$125 million in NantPharma, a NantWorks company whose products include high quality, biologically derived pharmaceuticals. NantPharma operates a number of drug manufacturing and research facilities around the country. In January 2012, it announced the acquisition and redevelopment of a former Pfizer facility in Terre Haute, Indiana, with a commitment to invest $85.5 million to produce critical care injectable and oncological drugs. The new plant is expected to become operational in 2015.

NantWorks and NantPharma Chairman, Dr. Patrick Soon-Shiong, has previously founded two successful pharmaceutical companies addressing the unmet needs of critically ill patients. The injectable drug company he led, APP Pharmaceuticals, was the nation’s only safe source of heparin during the supply crisis in 2008, and his biopharmaceutical company, Abraxis Bioscience, developed the world’s first protein nanotechnology cancer drug transporter for breast cancer and now is in trials for pancreatic and lung cancer. Dr. Soon-Shiong sold these companies in 2008 and 2010, respectively, raising several billion dollars to pursue his vision of personalized medicine.

As part of the deal, Chinh E. Chu and Anjan Mukherjee, Blackstone Senior Managing Directors, and Arthur J. Higgins from Blackstone’s dedicated healthcare group, Blackstone Healthcare Partners, will join Dr. Patrick Soon-Shiong on the NantPharma board. Mr. Higgins is a former Chairman of the Board of Management of Bayer HealthCare AG, who led that company’s restructuring, including the acquisition of Schering AG and the over-the-counter medicines business of Roche. He is a former head of Abbott Laboratories’ pharmaceutical business in the United States, and a 34 year veteran of the pharmaceutical business.

“I am delighted that we will be building this company together with Blackstone and with seasoned executives Chinh Chu, Anjan Mukherjee and Art Higgins,” said Dr. Soon-Shiong, welcoming the agreement. “Our country must have absolutely reliable sources of blood plasma products. The effective treatment for auto immune and other diseases will depend on this. We must have the highest quality standards for all biologically derived drugs. Safety is paramount with such products.”

“We must also enhance our capabilities to manufacture injectable and next generation drugs in America,” added Dr. Soon-Shiong, noting that since 2010 there has been a growing and alarming shortage of injectable drugs for cancer sufferers and other critically ill patients.

Chinh Chu and Anjan Mukherjee, who have led many of Blackstone’s investments in healthcare, welcomed the agreement with NantPharma: “We have followed Dr. Soon-Shiong’s extraordinary career with much interest for nearly a decade and we see great opportunity working together with him at the leading edge of the healthcare industry, both in this exciting venture and other initiatives.”

Bank of America Merrill Lynch acted as financial advisor, and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel, to NantPharma and NantWorks in the transaction. Simpson Thacher & Bartlett served as legal counsel to Blackstone.

New Marilyn H. and Dr. Robert B. Pamplin Jr. Director, Brian Ferriso

The Portland Art Museum is pleased to announce the appointment of Michael Murawski, Ph.D., as director of education and public programs. Murawski will begin his tenure on October 15. “This is an important role at the Museum. Our education programs expand and amplify the visitor’s experience in the galleries through innovative installations, lectures with leading scholars, and special programs for school children, college students, artists, educators, and adult learners,” said Brian Ferriso, The Marilyn H. and Dr. Robert B. Pamplin Jr. Director. “I am pleased that we have been able to recruit and hire Mike Murawski, one of today’s leading thinkers around art museum education.”

In his new position, Murawski will be responsible for creating a vision for the Museum’s public programs for families, students, and adults and ensuring the highest quality for all education programs.

“I am so excited to step into this new role at the Portland Art Museum and become part of a distinguished institution dedicated to creating compelling experiences for all visitors,” said Murawski. “I look forward to working with their exceptional team to further strengthen the Museum’s role in the community and help shape the Museum’s vision for the future.”

Murawski is currently the director of school services at the Saint Louis Art Museum. In this role he directs all school, teacher, and docent programs for the Museum and creates programs, tours, and partnerships for K-12 students, facilitating innovative museum learning. The programs serve approximately 35,000 students per year.

Prior to his work at the Saint Louis Art Museum, he was the coordinator of education and public programs at the Mildred Lane Kemper Art Museum at Washington University, Saint Louis.

Murawski holds both master and doctorate degrees in education from American University, Washington, D.C. and received a bachelor’s degree in art history from Truman State University, Missouri.

“We are confident that Mike will continue to strengthen our existing programs such as Object Stories, Shine a Light, and Artist Talks while creating a vision for the future to help the Museum deliver its important mission in our community,” said Ferriso.

Emirates Team New Zealand’s AC72 Unveiled

Emirates Team New Zealand’s AC72 was unveiled at Auckland on Saturday night. More than 6000 people braved a cold winter’s evening for the show. On a cool winter’s evening at Auckland’s Viaduct Harbour, an audience of more than 6000 watched skipper Dean Barker’s wife Mandy splashed the yacht with champagne.

Simultaneously, flames erupted from gas lines around the yacht and fireworks lit the sky as 18 months of work by the design and build teams were revealed for all to see.

Mandy Barker named the cat “New Zealand” – team member’s acknowledgment of their gratitude for the country’s support through the difficult times since Valencia in 2007.

Team managing director Grant Dalton said the night could not have happened without the support of the Government and sponsors who backed the team with such enthusiasm.

“New Zealanders should be proud that their team attracts the support of these major international companies,” Dalton said.

“The same can be said for the international designers, engineers and analysts who augmented our design team.

“We are proud of what we have achieved so far, working in a tin shed in Auckland.

“We carry the New Zealand flag sponsors’ brands proudly and pledge that the mission of every member of this team is to bring the America’s Cup back to New Zealand.”

As the countdown to the big moment got underway Prime Minster John Key, Auckland Mayor Len Brown and sponsor representatives were led to the yacht by a Maori warrior.

With the yacht in the background, 1000 people pulled on a hemp rope to “load” the catapult which smashed the champagne bottle and sprayed the boat.

It was a proud moment for the team and signalled the beginning of the next stage of preparations for the 2013 America’s Cup.

Zero Motorcycles Electric Transportation

We've been told that Larry Page has three of these puppies.  More economical than an electric car, Zero Motorcycles latest bikes have a new powertrain with batteries that boost their range to over 100 miles and give them top speeds up to 88 miles an hour. Most important for many potential buyers who may be sitting on the fence: a battery designed to last the life of the motorcycle. Zero says its new Z-Force™ power pack uses a revised battery-cell chemistry and design that is more energy dense and can withstand 3,000 complete charge cycles before falling to 80% of its original capacity, 95% more energy dense, giving the Zero S a battery lifespan of as much as 308,000 miles - meaning the bike itself will probably wear out before the battery pack does.

All of the street models feature regenerative braking and the Zero S supermoto and Zero DS dual sport will be available in 6 or 9 kWh configuration (ZF6 and ZF9). Range-wise, for the Zero S this translates to 76 or 114 miles (122-183 km) on a single charge for city riding and 43 miles (69 km) and 63 miles (101 km) respectively when traveling at highway speeds. This is up from a 50 mile city range on the earlier the model and in our time spent with the outgoing Zero S we found that the city riding range figures hold true. If the same applies for the new addition, it will be a very practical urban commuting option and according to Zero Motorcycles, the improvements make the S the world's first available mass-produced electric motorcycle capable of exceeding 100 miles on the EPA's UDDS range test.

Top speed for the S is specced at 88 mph (142 km/h) while the Zero DS can hit 80 mph (129 km/h).

For recreational riders, the increased range makes the bikes more practical for what many riders crave: weekend rides that last a couple of hours ac cover 80 to 100 miles.

Recharging time for the 6 kwh Zero S is quoted at 6 hours (100% charged) and 5.3 hours (95% charged) through a standard outlet, while the 9 kwh model takes 9 hours (100% charged) / 8.0 hours (95% charged). There are also quick-charge options available that can cut recharge times by up to 75 percent.

Revised frame geometry and a new bodywork (which gives the S model in particular a noticeably meaner streetfighter appearance) complete the transformation of street models along with the welcome addition a larger front brake master cylinder.

For those heading off-road, the upgraded Zero X trail bike gets 33% more overall power and 75% greater range, along with lights to make it highway-legal. The Zero MX motocrosser also gets a power boost and both models have undergone a redesign which the company says "speaks to their more aggressive and longer lasting powertrain."

The bikes are also being used in law enforcement.  The Scotts Valley police say they will use the electric bike for patrol, traffic duty and other assignments where maneuverability and quiet operation can give officers an advantage.

“We are excited to be the first police department in California to receive an electric Zero motorcycle because it will allow our officers to patrol more places, more often,” said John Hohmann, a lieutenant with the Scotts Valley Police.

"The 2012 model line is truly game changing. It marks the first time in history that riders can actually own an electric motorcycle that is capable of exceeding 100 miles of range on a single charge," said Scot Harden, VP of Global Marketing of Zero Motorcycles. "Every model in the lineup goes faster, further and is more fun than ever before."

Prices for the new bikes range from US $7,695 for the light, bare-bones XU model to $13,995 for the S or DS with the higher-capacity battery.

Soon-Shiong Forms Toy Venture with Jakks ‎

JAKKS Pacific and NantWorks Partner to Produce Next Generation Interactive Toys New venture, DreamPlay™ Toys, will use state of the art image recognition technologies to revolutionize toy and consumer products

LOS ANGELES & MALIBU, Calif.--(BUSINESS WIRE)--Jul. 17, 2012-- Leading toy manufacturer JAKKS Pacific, Inc. (Nasdaq:JAKK) and technology leader NantWorks, LLC, founded by Dr. Patrick Soon-Shiong, announced that they have signed a letter of intent to create a joint venture to develop, market and sell next generation toys incorporating NantWorks’ proprietary image recognition technology. The new venture will be named “DreamPlay Toys.”

“We are witnessing a major transformation in the play patterns of children,” said Stephen Berman, President and CEO of JAKKS Pacific. “More and more they are turning to smart phones and similar devices as their major source of fun and play. JAKKS, through its partnership with Dr. Soon-Shiong and NantWorks, has made the commitment to become a leading toy consumer products technology company that will take recognition technologies and interactivity in products and play to new heights.”

“The most interesting things happen when experts from different industries come together to rethink their worlds,” said Dr. Soon-Shiong. “This is what we are doing with DreamPlay. Toy experts and technology experts are combining to create a whole new world of possibilities for children, and indeed for consumers generally.”

JAKKS Pacific will begin transforming its product line to incorporate the new image recognition technology, and will present the first examples at the International Toy Fair in LA in October. Children will be able to “activate” toys, and interact with them using smart phones or tablet devices, in their homes and in stores. The NantWorks platform enables instant connections between physical toys, video, posters, books, games and all other forms of media.

“Children will be able to bring toys to life,” said Dr. Soon-Shiong. “The only limit will be the child’s imagination, and we all know there is no limit to that.”

“In my over twenty year career in the toy industry, I have never seen anything as transformative, ground-breaking or exciting as this partnership with NantWorks and what it will mean to our business in the future,” added Mr. Berman. “And what begins now with toys will eventually extend to many kinds of consumer products soon after.”

Under the terms of the letter of intent, NantWorks will link JAKKS’ toy products to content and animation on mobile devices through the image recognition platform, and JAKKS will have the exclusive right to arrange for partnerships with other toy companies to make the platform available to them in the development, sale and marketing of their toy products. JAKKS and NantWorks will have a profit sharing arrangement for these third party toy relationships. Under the proposed arrangements, JAKKS Pacific will be providing resources, including personnel and facilities and the services of its CEO. Mr. Berman will also serve as General Manager of DreamPlay Consumer Products, which will extend image recognition technology to non toy consumer products and applications. The parties intend to complete definitive agreements within the next 90 days.

Congratulations Marissa Mayer

Yahoo! today announced that it has appointed Marissa Mayer as President and Chief Executive Officer and Member of the Board of Directors effective July 17, 2012. The appointment of Ms. Mayer, a leading consumer internet executive, signals a renewed focus on product innovation to drive user experience and advertising revenue for one of the world's largest consumer internet brands, whose leading properties include Yahoo! Finance, Yahoo! Sports, Yahoo! Mobile, Yahoo! Mail, and Yahoo! Search. Mayer said, "I am honored and delighted to lead Yahoo!, one of the internet's premier destinations for more than 700 million users. I look forward to working with the Company's dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world."

Most recently, Mayer was responsible for Local, Maps, and Location Services for Google, the company's suite of local and geographical products including Google Maps, Google Earth, Zagat, Street View, and local search, for desktop and mobile. Mayer joined Google in 1999 as its 20th employee and led efforts for many of Google's most recognizable products, including the development of its flagship search product and iconic homepage for over 10 years. Mayer managed some of Google's most successful innovations, launching more than 100 features and products including image, book and product search, toolbar, iGoogle, Google News, and Gmail — creating much of the "look and feel" of the Google user experience.

Yahoo! Co-Founder David Filo said, "Marissa is a well-known, visionary leader in user experience and product design and one of Silicon Valley's most exciting strategists in technology development. I look forward to working with her to enhance Yahoo's product offerings for our over 700 million unique monthly visitors."

"The Board of Directors unanimously agreed that Marissa's unparalleled track record in technology, design, and product execution makes her the right leader for Yahoo! at this time of enormous opportunity," said Fred Amoroso, Chairman of the Board of Directors.

Mayer received her B.S. in Symbolic Systems and her M.S. in Computer Science from Stanford University, specializing in artificial intelligence for both degrees. She is credited as an inventor on several patents in artificial intelligence and interface design.

"Yahoo!'s products will continue to enhance our partnerships with advertisers, technology and media companies, while inspiring and delighting our users. There is a lot to do and I can't wait to get started," Mayer said.

Getting Gooey with High Rising Daughters

Making real wholegrain bread full of yummy seeds and nuts with my daughters is something I’d LOVE to rediscover.

They say kids spell LOVE as T-I-M-E… bread making takes a little time, and it’s a MAGIC lesson as well. The doubling of the dough as the yeast goes to work is kinda magic to my girls.

As a kid, walking home from the village bakery with warm fresh bread was always a cool happy chore, only pulling away and chewing the crust edge was not an art form my Mum thought needed rewarding. Experiencing the girls doing the exact same thing with fresh bed straight out of the oven was ‘Brilliant’!

(Recipe; Big Book of Baking, Paragon Books ©2008)

Michael Moritz & Harriet Heyman Pledge To Oxford

The biggest philanthropic gift for undergraduate financial support in European history will underpin a major new scholarship programme at the University of Oxford – making it possible, starting this autumn, for students from low-income backgrounds to complete their studies with zero upfront study and living costs. The transformative programme is founded on a £75million commitment from alumnus Michael Moritz and his wife Harriet Heyman which, with a 'matched funding challenge' to the collegiate University, will generate an unprecedented total of £300million to support UK undergraduates from lower-income backgrounds.

At present, just under a thousand Oxford undergraduates (about one in ten) are in the lowest family income bracket (families with incomes of below £16,000). Within three years of its launch this autumn, more than half of these students could benefit from a Moritz-Heyman Scholarship. It is envisaged that eventually all such students would be covered by the scheme or equivalent similar scholarships.

Under the programme, Oxford students from the lowest-income families will receive financial support totalling £11,000 per year, eliminating all living costs. Those students will have their borrowing pegged to the level prior to the new higher fees regime coming into force this autumn. They will need government loans of just £3,500 a year – repayable only in line with future earnings.

In addition, Moritz-Heyman scholars will receive financial support during vacations (so that economic hardship does not unnecessarily divert or distract low-income students), and will participate in a tailor-made internship programme to foster career opportunities.

Oxford’s Vice-Chancellor, Professor Andrew Hamilton, said: 'Oxford is already offering the most generous undergraduate support package in the country. But this remarkable and hugely generous gift and initiative from Michael and Harriet allows us to go an important stage further towards our goal of ensuring that all barriers – real or perceived – are removed from students' choices. It provides extraordinary support – financial and personal – for outstanding students.'

Michael Moritz, who is an alumnus of Christ Church, said: 'Real talent is housed everywhere. Our new scholarship programme means that a gifted student – irrespective of financial circumstances – will always be 100% confident they can study at Oxford. This is a fresh approach to student funding in the UK – fuelled by philanthropy; catering to the dreams and aspirations of individuals determined to excel; while also safeguarding the academic excellence on which Oxford’s global reputation stands.'

The Prime Minister, The Rt Hon David Cameron, said: 'I welcome this generous donation which will mean that many talented students, from some of the most disadvantaged backgrounds, will get help and support to study at a world leading university, and have a chance to realise their full potential.'

The total gift of £75m to Oxford will be made in three tranches of £25m. Each £25m will be matched by the equivalent of investment returns from £25m of the University's own endowment, making £50m in total. Then there will be a challenge to the collegiate University and its supporters to match that £50m through further philanthropy. Only when the £25m stimulus has led to a full £100m for student support will the next £25m be given. This process will happen three times over, until Moritz and Heyman have donated £75m in all and Oxford has a total of £300m dedicated to undergraduate support.

Those who have already won a 2012 Oxford place with family incomes of below £16,000 will be eligible for a Moritz-Heyman scholarship. For 2012-13, 100 scholarships will be available, and priority will be given to students of science subjects and those who meet Oxford’s access priorities.

Students with family incomes below £16,000 who do not get one of the 100 Moritz-Heyman scholarships will still automatically receive Oxford University’s new standard 2012 support package, which provides both fee waivers and bursaries and is the most generous in the country.

In 2008, Michael Moritz and Harriet Heyman donated $50m (over £25m) to Christ Church, where he studied as an undergraduate, the biggest single gift in the college’s recent history.

Calvin Klein Honored at 2012 ACE Awards Gala

Calvin Klein, Inc. announced today that Calvin Klein Collection will be honored at the 15^th annual Accessories Council Excellence (ACE) Awards Gala on Monday, November 5^th, at Cipriani 42^ndStreet in New York City. The ACE Awards highlight individuals and brands that have made a significant contribution to the accessories industry. This year, Calvin Klein Collection’s Francisco Costa (Women’s Creative Director), Italo Zucchelli (Men’s Creative Director) and Ulrich Grimm (Men’s & Women’s Shoes & Accessories Creative Director) will receive the Designer of the Year Award. Calvin Klein Collection is known around the world for its modern, sophisticated and timeless designs. The brand’s women’s and men’s ready-to-wear collections, designed by Mr. Costa and Mr. Zucchelli respectively, set the tone and direction for the overall brand and its complementing shoes and accessories, overseen by Mr. Grimm. This marks the first time the Designer of the Year Award will be presented to three designers from one brand.

Other honorees announced thus far for the 2012 ACE Awards Gala include Constance White (Mary Lou Luther Award for Fashion Journalism), Theodora & Callum (Brand Launch), C. Wonder (Speciality Retailer), Stella + Dot (Retail Innovation) and Vince Camuto (Visionary Award).

“We are excited for this year’s honorees and ceremony. These brands and the people behind them have been industry leaders and set the tone for the growth of accessories as a whole,” remarked Accessories Council President, Karen Giberson.

Tickets and tables for the 2012 ACE Awards Gala are currently available for $1,000 per person or $10,000 for a table of ten for Accessories Council members ($1,500 per person and $15,000 per table for non-members).  Tickets can be purchased by calling the Accessories Council at 212.947.1135 or e-mailing info@accessoriescouncil.org.

Peter and Pam Vela Guests Of The Queen At Royal Ascot

Following in the footsteps of the success the New Zealand Wine Industry, the New Zealand Thoroughbred Industry is celebrating success at the highest level on the international stage, with the success of two New Zealand born and bred racehorses at the world's most famed Racing Carnival, Royal Ascot. Equine superstars Little Bridge and So You Think delivered a significant boost to the New Zealand Thoroughbred Industry, plying their wares with aplomb this week in front of a global audience of millions and the pomp and pageantry of the Royal Family, headed by racing's number one fan, Her Majesty the Queen.

Winning the Prince Of Wales’s Stakes (2000m), Waikato-raised So You Think denied the Queen a fairytale victory of her own, defeating her classy galloper Carlton House. The Champion galloper has now won ten races at the elite Group I level and has travelled the globe after initially racing in Australia , venturing to England , Ireland , France , Dubai and the United States in the past 12 months.

Likewise, the opening day success of sprinter Little Bridge in the King's Stand Stakes (1000m) - who is these days domiciled in Hong Kong - showed the versatility of the New Zealand Thoroughbred Breeding Industry, with both speed and stamina in our arsenal.

Both Little Bridge and So You Think were bred and raised in the lush pastures of the Waikato , before being sold at public auction at New Zealand Bloodstock's world class facility at Karaka for $9,000 and $110,000 respectively.

Like so many of New Zealand's finest thoroughbreds, Little Bridge and So You Think were exported to race for lucrative prize money on offer abroad, with So You Think set to commence stallion duties later this season, having been secured by Irish based breeding consortium Coolmore for a reported A$60 million.

The New Zealand Thoroughbred Industry exports in excess of 1600 horses annually with an estimated net worth of $135 million. The Thoroughbred Breeding and Racing Industry contributes some $791.6 million to the New Zealand economy and provides employment for more than 30,000.

Commenting on the success of Little Bridge and So You Think at Royal Ascot, New Zealand Thoroughbred Marketing Chief Executive Andrew Birch said: "It goes a long way to confirming the class of our thoroughbreds on the world stage - make no mistake this is a monumental achievement. This is probably the most significant week in the history of New Zealand Thoroughbred Breeding and the spin-offs from the global exposure could be massive for our industry. This is our World Cup victory."

"We have a natural advantage when it comes to breeding thoroughbreds, given our climate and our cost of production is vastly cheaper than the majority of our rivals. Meanwhile our horsemen and women are first class and substantial investment has been put into ensuring we breed to the world's best bloodlines."

On track to revel in the triumph was Cambridge couple Des & Janet Hawkins, breeders of Little Bridge, while prominent New Zealand breeder and owner Peter Vela ONZM and his wife Pam were guests of the Queen as part of the Royal Procession on Day 1 of the five-day carnival. Vela is also the Co-Owner of New Zealand Bloodstock and Vela Fishing with his brother Philip.

Hugh Jackman is a Fabulous Father

The Australian actor is a family man and cherishes the ''everyday moments'' spent with his loved ones more than anything. 'The things that I really cherish are the everyday moments, like sitting around cooking pancakes together on Sunday morning, or getting home after a tough day and my kids come up and give me a hug and remind me what's really important.

''On Friday nights, we will all sit down and watch a movie together and cuddle up. It's more everyday stuff that really is the goal.''

Asked what makes him happiest, Hugh replied: ''Without a doubt, it's my family. I have two beautiful kids, an incredible wife, and it's just about being with them.''

Thomas Barrack Elected to USC Board of Trustees

Thomas J. Barrack Jr., founder, chairman, and chief executive officer of Los Angeles-based Colony Capital, LLC, one of the world's largest private equity real estate firms, was elected to the USC Board of Trustees on June 6. Barrack founded Colony Capital in 1991. As chairman, he has invested approximately $45 billion in assets worldwide and oversees a global organization located in 13 cities and 10 countries.

"I am very proud to announce that Thomas J. Barrack Jr. has been elected to the USC Board of Trustees," said USC president C. L. Max Nikias. "A true Trojan, Tom brings the unique perspective of an extraordinarily creative and successful entrepreneur to our board. His spirit of adventure, leadership, and wealth of experience in finance and real estate development will be invaluable as we secure USC's place among the ranks of the world's truly elite universities."

The son of Lebanese immigrants, Barrack is a Los Angeles native and a graduate of Loyola High School. While a student at USC, he played on the varsity rugby team. He received a bachelor's degree from USC in 1969 and later attended the USC Gould School of Law, where he was an editor of the Law Review, and the University of San Diego, where he earned his J.D. in 1972.

Barrack began his professional career at the firm of Herbert W. Kalmbach, President Richard Nixon's personal lawyer. He then took an assignment in Saudi Arabia, eventually learning Arabic and working for several years as an adviser to sons of the Saudi king.

Back in the United States, Barrack began his real estate investment career in 1976 as president of Dunn International Corporation, a builder of industrial and office parks. He served as deputy undersecretary of the U.S. Department of the Interior during the Reagan administration from 1982 to 1983. Following stints as president of Oxford Development Ventures, Inc. (the largest Canadian development company), and senior vice president of E. F. Hutton & Co. in New York, he became a principal with the Robert M. Bass Group, the principal investment vehicle for Robert M. Bass of Fort Worth, Texas, a position he held from 1986 to 1991.

Barrack is a current director of First Republic Bank, one of the largest private wealth banks in the United States; Accor S.A., the largest European hotel group; the Fairmont Hotel Group, one of the largest international hotel groups; and Kerzner International Holding Ltd., an international gaming and hospitality company.

He is a past director of Continental Airlines; Kerry Properties, one of the largest property companies in Hong Kong; Korea First Bank; Azorra Bank, Japan; Public Storage Company; and Santa Anita Companies.

In 2005, Barrack received an honorary doctorate from Pepperdine University, where he is a member of the University Board, a national advisory body. He was previously a trustee of the American University of Beirut. He has been a trustee of Loyola High School for over a decade and currently also is a trustee of the Thacher School in Ojai, Calif.

In Paris in 2010, in recognition of his contributions to the French business and finance sector, French president Nicolas Sarkozy knighted Barrack as a Chevalier de la Légion d'Honneur, the highest award bestowed by the French government on citizens and foreigners.

Throughout his career, Barrack has been an active champion of his alma mater, where he currently is a member of the Board of Leaders of the USC Marshall School of Business. He has served as a commencement speaker for the school, and as a presenter at its 13th annual Asia/Pacific Business Outlook conference in 2000. In fall 2010, he joined actor Rob Lowe in sharing his experiences, advice and philosophies with USC students during a program titled "Making Movies, Making Deals and Making It Big," as part of USC Marshall's John Bendheim Executive in Residence Program. Barrack also partnered with USC trustee Gin D. Wong, a 1950 architecture alumnus, to support a presentation by Beijing-based architect Liu Jiakun as part of the USC School of Architecture lecture series in January 2012. Barrack is a frequent keynote speaker at the USC Lusk Center for Real Estate and various other USC venues.

In recognition of his professional achievements and service to the university, Barrack was honored with USC Marshall's Alumni Award for Business Excellence in 1999. The USC Lloyd Greif Center for Entrepreneurial Studies named him "Entrepreneur of the Year," in 2005.

An avid surfer and polo player, Barrack resides in Los Angeles and also owns and operates a vineyard and horse ranch in Santa Ynez, Calif., with his children.

Larry Ellison's Oracle AC72 Wing Reaches Pier 80

The 12-story-tall wingsail and hull crossbeams for the first of Oracle Team USA’s two AC72 yachts aimed at the 2013 America’s Cup in San Francisco were delivered to the team today. The components arrived in Oakland from New Zealand on the Cap Vilano by shipping partner Hamburg Sud before being delivered to the team’s base at Pier 80 on the west side of San Francisco Bay.

“It’s a major step in the course of our campaign to win the America’s Cup again,” said Jimmy Spithill, the youngest skipper to have won the America’s Cup.

Due to the length and height of the load, the top and bottom halves of the 130-foot (40m) long wingsail were trucked through Oakland to Interstate 880 southwards to San Jose. A northerly route on the I-280 followed before arriving at Pier 80 in South San Francisco.

The smaller crossbeams, which will link the two hulls of the AC72 catamaran, were trucked on a more direct route across the Bay Bridge to Pier 80. They will be assembled with the two hulls currently under construction at Pier 80.

The wing and crossbeams were constructed by Core Builders Composites in Warkworth, New Zealand. Under competition rules, the hulls must be built in the country a team represents.

When joined together, the wingsail-powered AC72 will have a speed potential of 40 knots (46mph/74kph). “I guarantee it will stop the traffic,” predicted Spithill when the boat goes testing on the Bay.

Under America’s Cup cost-capping rules, teams can’t launch their AC72s before July 1, and Oracle Team USA will have its boat sailing in August to start more than two months of testing on San Francisco Bay.

“After the hundreds of hours of design and thousands of man-hours of construction, it’s a significant milestone to see these components become reality,” said design team member Dirk Kramers, who observed the arrival of the components with other members of the design team.

Super Students

Sienna & Marlana have come home with distinction ‘Super students’ today…. Incredibly this sort of thing seems to work…. No one wants to be on the ‘bottom’ category ‘NEED to Call parent’!!!

Dolphin Talk

Took the girls sailing last weekend… Two Dolphins swam with the boat for 20-30mins…

Sienna & Marlana were squealing like you’d never believe…. Which must of sounded like ‘Dolphin’ talk to the Dolphins!

We we’re doing 8plus knots under sail and it seemed like the Dolphins were just having a blast with the girls… the girls were sitting on the pulpit and the Dolphins remained below them…. The girls will never forget last week end!

Congratulations to Mark Zuckerberg and Priscilla Chan

Congratulations to Mark Zuckerberg & Priscilla Chan on their wedding this weekend. May you have a wonderful life together.

How Long Does It Take To See The Smithsonian?

Among the places we would like to visit one day as a family is The Smithsonian. So we were very excited to hear the National Museum of Natural History announcement today that it will construct a new dinosaur exhibition hall made possible by a $35 million donation from David H. Koch, executive vice president of Koch Industries and philanthropist. “Dinosaurs have always been one of the Smithsonian’s most important and popular exhibitions,” said Cristián Samper, director of the National Museum of Natural History.

This is the largest single gift in the history of the Natural History Museum. Koch has contributed to many cultural, educational and health organizations, including Lincoln Center, the Metropolitan Museum of Art, American Museum of Natural History and Massachusetts Institute of Technology. Koch has been a member of the National Museum of Natural History’s board for five years.

“We are grateful to David Koch for this gift that will allow the Smithsonian to update one of the most important and popular exhibitions in the Smithsonian’s National Museum of Natural History,” said Secretary of the Smithsonian Wayne Clough. “Millions of Americans and visitors from all over the world will learn and be inspired for years to come.”

The existing dinosaur hall will remain open until spring 2014. This gives us a little time to save up for a visit after the new hall is opened. We do have one question though - how long does it take, to take in the Smithsonian?

Greg Renker Awarded Distinguished Horatio Alger Award

The Horatio Alger Association of Distinguished Americans, Inc. awarded its prestigious Horatio Alger Award to Greg P. Renker, Co-Founder and Co-Chairman of Guthy-Renker. The Horatio Alger Award is given to outstanding individuals who, despite facing adversity early in their lives, have overcome challenges to attain success.

"We are pleased to honor Greg Renker's dedication to professional success and helping others," said Tony Novelly, president and CEO, Horatio Alger Association. "His story and those of his fellow 2012 New Members are testaments to what can be achieved in America with hard work and determination."

Greg Renker learned the value of adaptability and hard work at a young age. The nature of his father's work caused Greg and his eight siblings to move frequently, forcing them to adjust to new environments everywhere they went. As a teenager, Mr. Renker began to work while attending school. He quickly developed a strong work ethic and voracious appetite for learning that would balance his studies and the various jobs he worked to pay his college tuition. After college, Mr. Renker used savings from working several jobs to found the Guthy-Renker Corporation, one of the world's largest direct response marketing companies. The company has broadened its focus into every area of electronic and digital retailing and distributes its products in 60 countries throughout the world.

In addition to Mr. Renker's success as a marketing professional and entrepreneur, he is also a well-known philanthropist. Deeply involved in his local community, Mr. Renker serves on the board of directors and is vice chairman of the Eisenhower Medical Center in Rancho Mirage, CA. He is a chairman emeritus of the Annenberg Center for Health Sciences and Chairman Emeritus of the ERA (Electronic Retailing Association). Joined by his wife Stacey, the pair's financial contributions resulted in The Renker Wellness Center on the Eisenhower Campus as well as The Greg & Stacey Renker Pavilion, a cutting-edge 24 -suite luxury in-patient facility.

"My parents were the first to show me that with perseverance and faith, success can be achieved. I am humbled to have my name be part of such an elite organization like the Horatio Alger Association of Distinguished Americans and use my personal and professional history as a blueprint to help others achieve their dreams," said Renker.

Sir Douglas Myers Scholarship Taking Cantabrian To Cambridge

Sir Douglas Myers Scholarship for 2012 to Cambridge University in England has been awarded to Zoë Higgins, a student from Banks Peninsula with a passion for improving the quality and sustainability of human life. There she will study for a bachelor of arts degree in geography with a view to working in developing countries and eventually back in her home province of Canterbury.

The scholarship, worth $100,000 a year, will take her to Gonville and Caius College at Cambridge. Sir Douglas Myers, a Cambridge alumnus, set up the scholarship 12 years ago for academically gifted students intending to return to New Zealand to become leaders in their chosen fields.

Last year Zoë was dux at St Margaret’s College, Christchurch where she also became the first student ever to receive Academic Honours twice for academic excellence, service and commitment. She scored 44 out of 45 in the International Baccalaureate Diploma while also gaining NCEA Scholarship in English.

Zoë was a member of the Canterbury schools debating team and won the school cups for debating and public speaking. She contributed to drama, film, writing and cultural events, and took part in dragon boating, indoor netball and table tennis. As prefect, Head of Community, she was responsible for events and fundraising for charities, including co-leading the school’s World Vision Forty Hour famine fundraiser.

Cambridge will give her “an amazing opportunity to make new friendships and step out from New Zealand into the world”, says Zoë. “I love the idea of living with students from around the world who have very different backgrounds and experiences.”

The ability to take papers from different disciplines at Cambridge appeals to Zoë as does the college system. She is also looking forward to advancing her own ideas and theories at intense, one-on-one supervision sessions.

Its “combination of imagination and problem-solving” and “the way it brings together science and humanities” persuaded her to pursue geography. “Mostly, I love the way it’s useful."

Zoë plans to apply her degree to engage with the world’s challenges: "equality, improved standards of living, and sustainable use of resources, in New Zealand and overseas. I want to be able to work on the ground and see what the problems really are, not just propose solutions from on high. Geography gives you the tools to do that. And it shows you how much of an impact informed, creative solutions can have."

New Zealand “is quite firmly my home” and after travelling and working overseas she would like to return to live here. “As a Cantabrian I care about finding ways to protect our soil and rivers from contamination by practising safe, sustainable agriculture.”

Currently Zoë is taking papers for a conjoint Bachelor of Engineering/Bachelor of Laws at the University of Auckland pending her start at Cambridge in October.

Peter Thiel partners with NZVIF to invest in New Zealand

A $40 million New Zealand-based venture capital fund has been established involving a partnership between the New Zealand Venture Investment Fund and Peter Thiel’s Valar Ventures. Valar has been operating since 2010 with the current investment round closing on January 1 of this year. Peter Thiel is a prominent United States technology investor. He co-founded and was CEO of PayPal before he sold it to eBay, and was the first outside investor in Facebook. Valar Ventures provides growth capital to early-stage New Zealand technology companies for the development of technology and expansion into overseas markets.

NZVIF chief executive Franceska Banga said the partnership brings not only new capital but also deep experience in developing world-leading technology companies and significant networks into the United States and international markets.

“Peter Thiel is one of the world’s most successful technology investors. He and his team bring a considerable track record of expertise and resources. For young New Zealand technology companies, Valar Ventures’ presence in the New Zealand market is a significant opportunity. “Alongside a scarcity of investment capital, the biggest challenge facing early-stage New Zealand technology companies is breaking into international markets. For web-based technology companies especially, the major market is the United States. That is where Valar Ventures’ networks – whether in Silicon Valley or on Wall Street – will be significant.

“Valar Ventures also brings considerable experience to bear on behalf of their portfolio companies. Their team has been through every stage of the start-up process, from inception to IPO, and they have the financial resources to fund companies throughout their growth stages.

“With NZVIF and other New Zealand investors, such as investment company Rangatira, participating in the Valar Ventures fund, we will retain a New Zealand stake in these businesses as they look to build an offshore presence and become international companies.” Thiel said New Zealand is an attractive investment proposition.

“Over the last several years, New Zealand has been nurturing more early-stage tech companies. I’m delighted that the government’s New Zealand Venture Investment Fund is partnering with Valar Ventures to enable more of them to expand and compete on the global level.”

“Through our work with globally focused technology companies like Xero, we’ve seen how much New Zealand’s start-up ecosystem is flourishing,” said Valar Ventures’ Andrew McCormack. “We were drawn to invest in New Zealand because of the vision and hard work of entrepreneurs like Sam Morgan and Rod Drury, incubators such as the Icehouse, and government initiatives like the NZVIF. New Zealand has good technical talent and an attractive cost base, and we’re looking forward to strengthening the ties between Silicon Valley and New Zealand.”

Valar Ventures LP is a $40 million fund with $20 million committed by NZVIF, approximately $5 million from other New Zealand investors, and the balance from Thiel.