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Kkr flying high vs blackstone on aircraft payments at least

July 9, 2007

The KKR IPO filing doesn’t yet tell us whether Henry Kravis gets compensated as well as his rival, Blackstone’s Stephen Schwarzman (who pulled in almost $400 million last year) but it does tell us that the KKR partners are making more money out of their flying machines. The document says that KKR paid $6.5 million for the use of its principals’ aircraft last year with the payments based on market charter rates. It stresses that Kravis and colleagues paid for the aircraft themselves and bear all the “operating, personnel and maintenance costs associated with their operation.” Certainly, they appear to be doing better than Schwarzman, who owns an airplane, and Blackstone co-founder Peter Peterson who jointly owns a helicopter with Schwarzman. In 2006, Schwarzman got a mere $1.5 million from Blackstone for use of his plane, and the two of them got only $158,500 for use of the helicopter.

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Firm Use of Private Aircraft

Certain of our senior principals, including Messrs. Kravis and Roberts, own aircraft that we use for business purposes in the ordinary course of our operations. They paid for the purchase of these aircraft with their personal funds and bear all operating, personnel and maintenance costs associated with their operation. The hourly rates that we pay for the use of these aircraft are based on current market rates for chartering private aircraft of the same type. We paid $6.5 million for the use of these aircraft during the year ended December 31, 2006.

From Blackatone S-1

Firm Use of Our Founders’ Private Aircraft

Mr. Schwarzman owns an airplane and Messrs. Schwarzman and Peterson jointly own a helicopter that we use for business purposes in the course of our operations. Messrs. Schwarzman and Peterson paid for the purchase of these aircraft themselves and bear all operating, personnel and maintenance costs associated with their operation. The hourly payments we made to Mr. Schwarzman and Mr. Peterson for such use were based on current market rates for chartering private aircraft. We paid $1,544,320, $1,037,925 and $1,032,170 to Mr. Schwarzman in 2006, 2005 and 2004, respectively, for the use of his airplane and we paid $158,500, $306,210 and $198,905 to Mr. Schwarzman and Mr. Peterson in 2006, 2005 and 2004, respectively, for the use of their jointly-owned helicopter.

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Re-entry into reality after vegging on beach is no ray of sunshine

July 2, 2007

Here’s the problem with vacations. While you’re sitting comatose on the beach all day, reading mysteries and (as my brother says) hoping some shrimp will jump into your mouth, things at home keep chugging right along.
The mail keeps coming. The dust keeps accumulating. The lawn keeps growing. The overdue DVDs keep not getting returned. The stray loaves of bread in the bread drawer keep growing mold.
This means that when you return you have a big fat mountain of work waiting for you. Also, you have moldy bread. And dude! Where’s the fun in that?
The mail part is the worst. Can I take a moment RIGHT NOW to tell every lending institution and/or credit card company in America that seriously! There is NOTHING in my life that I want to refinance! What I do want, however, is for all you guys to STOP SENDING ME STUFF.
Here’s the deal. I never signed up to receive a single scrap of anything from you. And yet there they are — day in and day out. Dozens of envelopes. Clogging up my mailbox like plaque in a carotid artery.
Worse, I have to spend precious time handling them and sorting them and throwing them away and feeling guilty that I didn’t shred them because I don’t know how to work the shredding machine. So THEN I also have to worry that somebody will go through my garbage can in the middle of the night and piece together my unsolicited, unwanted, unshredded credit card applications so they can steal my identity (which BTW has already been stolen once) (so don’t bother) (besides which, it’s not that much fun being me).
Same goes for junk e-mail. MEMO TO SPAMMERS: News flash! I do not want any good deals on Viagra, thanks! From here on out, please forward all further offers to Raphael Palmero!

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Yup. It’s true. I’m pretty grouchy right now. And I’m guessing you get all grouchy after returning home from vacations, too. That is why I have put together the following list of “tips” for people re-entering daily civilian life.
1. Put suitcase on bed and open it.
2. Take out wadded-up, dirty clothes for washing purposes.
3. Look fondly at stain on your shirt and remember sitting with your husband in that little Mexican restaurant by the sea where the lights were low and the music was soft.
4. Remember how he said he loves you, after which you took a bite of enchilada and spilled the special house sauce down your front. Que romantico!
5. Dump clothes in washing machine and remember how nice it was NOT to wash clothes for a week. Or cook meals. Or clean up after dogs. Or drive kids to their friends’ house. Or return late DVDs. Or throw out moldy bread loaves. Or forward e-mails to Raphael Palmero.
6. Try telling yourself that sitting on the beach for the rest of your life would get boring.
7. But don’t believe it. Because it wouldn’t. Especially if you have a good mystery and the shrimp start jumping into your mouth.
8. Which is why after you wash your clothes, you should put them straight back into your suitcase.
9. And put your suitcase in your car.
10. And hit the road (again), Jack. Don’t you come back no mo’, no mo’, no mo’, no mo’!
So long. Farewell. Auf Wiedersehen. Goodbye.

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Europe Approves Once-Daily Cialis for Impotence

June 25, 2007

LONDON (Reuters) - European officials have approved a once-daily version of impotence pill Cialis.

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The drug’s maker, Eli Lilly and Co., said on Monday that the green light from the European Commission meant Cialis was the first erectile dysfunction medicine cleared for continuous use.

Until now, drugs such as Cialis and Pfizer Inc.’s rival product, Viagra, have been taken as needed.

The new low-dose formulation of Cialis, by contrast, is taken all the time, which eliminates the need to plan sex within a limited timeframe. It is aimed at men who anticipate sexual activity at least …

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E-Mail on Vacation

June 21, 2007

Today is the first day of summer. And that brings us to the inevitable question: Are you going to check e-mail when you’re on vacation?

This week I’ll make an argument for and against, plus offer some tips for whichever path you choose.

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Many people loathe returning from a nice, relaxing vacation only to be inundated with a million e-mails. It’s a shock to the system. Slogging through all those messages on your first day back is enough to make you wish you’d kept up on e-mail while away.

Along with all the junk e-mail with subject lines such as “You are man with great future, for sureSoft Viagra,” it’s also possible that a time-sensitive business opportunity may have been offered to you while you were away. This is a particularly worrisome possibility for small-business owners and reason enough to stay connected.

If you decide to check e-mail on vacation, I suggest the following:

Read e-mail only once a day. Ideally, check your messages in the morning. Get it over with so you can get back to your vacation. Whatever you do, don’t check e-mail late at night. Inevitably, someone will pose a question or present a business problem that requires a thoughtful response–and that’s not the kind of thing you want to read right before bedtime.

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Leave the smart phone behind. CrackBerry addicts and users of e-mail-enabled devices will be especially tempted to check messages during any lull in activity, such as waiting in line for a ride at Disney World. To resist that temptation, leave your gadget in the hotel when you go out. If you need a phone, ask to use your traveling partner’s. If you both need your phones–well, are you sure you’re really enjoying this vacation?

Check e-mail at an Internet cafe. By checking e-mail in a neighborhood cafe, you can absorb some local color and possibly even get to know some locals. And you’re limiting your e-mail habit to the daily coffee-shop visit, preventing you from, say, checking e-mail on the beach. Granted, cafes with computer terminals aren’t as plentiful as they once were, given how many people carry laptops now. Still, it’s worth a shot. Check our Hotspot Finder for Internet cafes near your vacation destination.

For more tips, visit our Communications Infocenter.

Everyone deserves at least one week off a year from all responsibilities, or at least from as many as possible. But how can you accomplish this if you’re continuing to check e-mail? The truth is, you can’t. Each message you read, asking your opinion on this or your help on that, requires you to mentally break away from your vacation and focus on something back home. The more messages you read while on vacation, the less you’re able to “get away from it all” and the less refreshed and recharged you’ll be upon return.

I realize that some of you enjoy those little e-mail breaks from your vacation. Maybe you can’t fully relax when you’re out of the loop. Fair enough–but your inability or lack of desire to disconnect will likely create conflict with your traveling partners. Your companions, most likely, want you to be with them in spirit as well as in body.

So how can you disconnect for a week without losing out on potential opportunities? One option is to use an automated e-mail vacation reply, informing those who’ve written you that you’re without e-mail access and will reply to messages beginning on a specified date. The potential downside, and it’s a big one, is that any automated response to a spammer will validate your e-mail address–which could get you on even more mailing lists

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Nepalese flock to Himalayan dist to collect ‘Viagra’

June 13, 2007

Thousands of Nepalese, taking considerable risk, have left for the high altitude mountainous region of the country to collect a Himalayan herb popularly known as Nepali Viagra.
Some 9,000 to 10,000 people have headed towards Karanebheg of Mugu district, 750 km north-west from Kathmandu to collect the local herb called “Yarchagumba”, that can fetch up to Rs 250,000 in international market.
The herb is popular for increasing sexual power and vitality.
Sixteen people including women and children, who went to the mountain to collect the herb, were killed last week when their tent was buried under the snow.

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It is very risky to collect the herb also known as life giving herb as people usually get sick due to high altitude.
The villagers, who mostly survive on maize and potato as no other cash crops can be grown in the high Himalayas, are happy this time to freely collect Yarchagumba without paying tax to the Maoists, Gorkhapatra daily reported.
Earlier, each individual villager had to pay Rs 500 and businessman had to pay Rs 35,000 to the Maoists to collect the herbs, according to government daily Gorkhapatra Daily.
Now the district development committee is benefiting from Yarchagumba by collecting tax from the people.
The DDC charges Rs 500 each from local people and Rs 1,000 from business man while collecting Yarchaguba.

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Viagra-fed oysters ultimate aphrodisiac: Aussie farmer

June 6, 2007

An Australian oyster farmer has hit upon a technique he believes has created the ultimate aphrodisiac – feeding his shellfish the drug Viagra.

George May said the natural qualities of the oyster, known for arousing sexual desire, combined with the best modern pharmaceutical equivalent to create a potentially multi-million dollar market.

“First of all, oysters are the greatest natural aphrodisiac, second, you lace it with Viagra, and third, it’s a laugh,” the 59-year-old said yesterday.

May, who was a successful Sydney marketing executive until being diagnosed with prostate cancer late in 2006, will not be allowed to sell his oysters in Australia because they contravene strict regulations.

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And he has been ordered by pharmaceutical giant Pfizer, which produces the anti-impotence drug Viagra, to stop using the name of their most famous product in his marketing.

But May says neither of these obstacles will stop him from exporting his specially prepared Sydney Rock Oysters around the world.

“No-one can stop me feeding Viagra to my oysters. The reason that Pfizer are jumping up and down is that I used the name Viagra,” he said.

“I’m getting calls from Macau, Hong Kong, Moscow for god’s sake.

I’m getting calls from all over the bloody world.”

He has patented the idea of feeding the oysters Viagra, magnesium, zinc and sea grass among other things after the shellfish have gone through the normal purification process.

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Walnuts ‘a natural Viagra’

June 5, 2007

MALAYSIAN researchers claim they have created a nutty alternative to Viagra based on walnuts in a pill more healthy than its pharmaceutical counterpart.
Kim Kah Hwi, who headed the team of researchers from the University of Malaya, said he was inspired to look into walnuts after reading about their use in history, the Star newspaper reported.

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“I read articles about the Romans and French having eaten walnuts for this purpose. I thought if it had been documented that long ago, then there surely has to be something there,” he told the newspaper.

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Anti-smoking ‘wonder pill’ to be given on the NHS

May 31, 2007

An anti-smoking “wonder pill” which is twice as effective as other treatments, looks likely to be made available on the National Health Service.

Tests showed that nearly half of patients who took Champix gave up smoking within three months.

Now the government’s “rationing” watchdog the National Institute for Health and Clinical Excellence has issued draft guidance that the drug, which costs £2 a day, should be available on prescription.

Champix works on the ‘pleasure centre’ of the brain, reducing the feeling of satisfaction smokers get from a cigarette and relieving cravings and other withdrawal symptoms.

After three months of treatment, 44 per cent of smokers using it had given up, double the proportion who found success with Zyban, another anti-smoking pill available on the NHS.

It was also twice as effective as those on nicotine replacement therapy. Trials on 2,000 people found that after a year, 22 per cent had still not started smoking again.

The twice-daily pill, also known as varenicline tartrate, would cost the NHS £163.80 for the recommended 12-week course.

But patients would be able to ask their GP for a course for a prescription charge of just £6.85.

In February, the Daily Mail launched a campaign to end NICE restrictions on three drugs to treat Alzheimer’s disease that cost £2.50 per day, just 50p more than Champix.

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NICE’s draft guidance is out for consultation. If there are no major objections, it will take effect in July, just after England goes smokefree on July 1, when a ban on smoking in virtually all enclosed work and public places comes into force.

A spokesman for NICE said: “Having looked at all the evidence, our independent committee has concluded that it appears to be a good way to help people who want to quit smoking.

“The draft guidance also recommends that varenicline should normally be provided in conjunction with counselling and support, but if such support is not available, this should not stop smokers receiving treatment with varenicline.”

Most anti-smoking treatments work by supplying the body with a steady stream of nicotine through skin patches, chewing gums or inhalers, allowing the craving to gradually diminish.

Champix, however, is nicotine-free. It works by binding to nicotine receptors in the brain and reducing the severity of cravings.

It also reduces the satisfaction gained from smoking by interfering with the brain’s production of the chemical dopamine, which is associated with pleasure.

The Champix molecule is based on a chemical found in the leaves of the cytisus laburnum tree, which was used as a tobacco substitute by soldiers in the Second World War.

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Viagra empire run from prison

May 29, 2007

A SALESMAN who became the first in Britain to be jailed for illegally selling drugs – including Viagra – on the internet is still running his business from behind bars, the M.E.N. can reveal today.

Martin Simon Hickman , of Ashton under Lyne, was sentenced to three months and fined £20,000 for contempt of court at the High Court of Justice earlier this month.

He had was given the prison term after he failed to abide by a previous High Court injunction ordering him to stop selling drugs including Viagra – which is can only be available on prescription – and the similar but unlicensed Kamagra on the internet.

Hickman, from Ashton under Lyne, is the first retailer in Britain the UK to be jailed after a civil action by the Medicines and Healthcare products Regulatory Agency.
(MHRA).

But within days of him going to jail, the M.E.N. ordered Kamagra tablets – a generic and cheaper version of Viagra – online from his company’s website.

Our investigator was sent a batch of `Lovegra’ tablets, which is another name for Kamagra. They were offered on a deal where we bought eight tablets and were given another eight `free’ at a total cost of £32 plus £5 postage and packing.

Hickman’s website offers free delivery but we paid extra to ensure fast delivery and received an order within a few days. The drugs were dispatched via a PO Box address in Ashton.

Side effects

Experts say that if the drugs are taken without an initial assessment by a GP, users run the risk of suffering serious side effects - including a heart attack.

Hickman’s website offers a wide-range of `erectile dysfunction’ medication and boasts there are no prescription, consultation or administration charges. It will supply a maximum of three months’ medication in one order.

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Enclosed in the package delivered to us was a leaflet which warns that prescription medicines can only be taken by the person they are prescribed for.

It adds that a person must have `no medical condition to restrict the taking of the medicine’ and if in doubt you should contact your GP before taking it. The leaflet also contains a liability disclaimer.

Hickman was investigated by the MHRA - the government agency which is responsible for ensuring the safety of medicines - after his website was found to be offering the drugs for sale.

A test purchase was made and Hickman was then warned on several occasions that he was breaking the law and that he should stop advertising certain medicines for sale.

He was threatened with legal action and finally issued with a High Court injunction last September. Investigators believe Hickman had several websites, including one which was hosted in Germany.

Hickman was jailed on May 7 and his company MSH Traders fined £20,000 after he was found to be in contempt of court for failing to observe the High Court injunction.

The Right Honourable Justice Saunders described Hickman as a `wholly unbelievable witness’.

When the M.E.N. told the MHRA of our purchase, a spokeswoman said: “We take a very dim view of this. We are investigating and look forward to receiving your evidence.”

She added: “When people buy these products in this way they could be buying counterfeits so they are being ripped off. Secondly, taking the tablets could be dangerous.”

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Hamsters on Viagra have less jet lag

May 24, 2007

Hamsters given Pfizer Inc.’s Viagra adapted more quickly to changes in their internal clocks, scientists said.

Hamsters given sildenafil, the chemical name of the drug sold as Viagra, adapted more easily to altered patterns of light exposure to simulate changes caused by air travel across time zones. Long-haul travel desynchronizes the body’s alignment to the day-night cycle, leading to the disorientation of jet lag.

A person traveling east experiences difficulty falling asleep and awakening; a person traveling west falls asleep and awakes earlier, according to the Centers for Disease Control and Prevention in Bethesda, Maryland. Viagra helped the hamsters with eastward travel, said head researcher Diego A. Golombek, a scientist with the Laboratorio de Cronobiologica in Buenos Aires.

“Because Viagra is widely used, it’s something we can easily imagine being useful,” said Christopher Colwell, an associate professor of psychiatry at the David Geffen School of Medicine at the University of California Los Angeles. “This study is very cool — not a huge surprise, but a neat proof of principle.”

Most drugs that can be used to mimic circadian rhythms “you wouldn’t want to take yourself,” Colwell said, citing unwanted side-effects. He wasn’t involved in the study. “This could be applied to humans pretty easily.”

Hamster rhythms
Hamsters are the species of choice for studies of circadian rhythms, Golombek said. That’s because they have precise patterns, which are easily measured by watching when they run on their exercise wheels.

“As anyone who has a hamster as a pet will attest, they go to the wheel at the same time every night,” Golombek said. “They love wheels.”

The researchers synchronized the hamsters to a 24-hour day by simulating light-dark cycles. Once the hamsters adjusted to a cycle, they shifted the light-dark phases forward six hours. One group of hamsters was given saline; the other was given Viagra. The hamsters given Viagra got used to the change 4 days faster, on average, than their counterparts given a placebo. Viagra eased the transition that mimicked crossing the international dateline from west to east, known as phase advancing, and had no effect on a transition that mimicked westward travel.

“All animals, including humans, have a harder time with phase advancing,” said Colwell in a telephone interview today. “Humans are unique in our ability to screw up our timing system — you know, jet lag, shift work, staying up too late playing video games, or whatever.”

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Viagra for angina
Viagra was initially developed for angina, which is chest pain that occurs when the heart muscle doesn’t get enough blood. The same chemical, marketed under the name Revatio, is used to treat pulmonary arterial hypertension. Another study recently showed that the drug may help in treating idiopathic pulmonary fibrosis.

Viagra keeps another chemical in the brain, called cyclic GMP, from decomposing. Because cyclic GMP is involved in adapting to light, the researchers hypothesized that increasing its levels would accelerate animals’ adaptation to a new schedule.

The researchers performed the study with several dosage levels of Viagra, Golombek said. Low doses elicited a circadian response and had no erectile effects; at higher doses, Viagra stimulated both the circadian rhythms and the hamsters’ penises. It’s difficult to compare hamster dosage with human dosage because hamsters have a faster metabolic rate, Golombek said.

“This research is particularly relevant since it opens a completely original way of dealing with” jet lag, Golombek said.

Though Viagra is typically prescribed to men, there is no reason to think that it wouldn’t be equally effective in women for jet lag, Colwell said.

“Every bit of our biology is influenced by our timing system,” Colwell said. “We have a clock inside us, and in order for us to work properly, it has to be synchronized with the environment.”

Human Trials Needed

The researchers said studies hadn’t been performed in humans and that clinical trials must be undertaken before Viagra is considered a safe and useful treatment for the condition.

“Jet lag trials might involve laboratory simulations, but we also need the real thing,’ which means testing pharmacological treatments on long-haul air travel, which will certainly take some time,” Golombek said.

Pfizer, the world’s largest drugmaker, had no connection to the study.

“While this is an interesting area of research, Pfizer has not conducted any trials assessing Viagra use as a treatment for jet lag and has no plans to do so,” Pfizer spokesman Francisco Gebauer said in an e-mailed statement today. “Viagra is approved only for the treatment of erectile dysfunction.”

Viagra did $434 million in sales the first quarter of 2007, an 11 percent increase from the first quarter of 2006. It is the New York-based drugmaker’s fifth-largest product.

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