I have been trough hell this summer with Nyhedsavisen - because media is writing about media with a passion that very much surpases the size of the company. And today something significant happened - and NO PAPER TOOK IT UP - no one chose to write about it.

Berlingske Media lost DKK 78 million in first half of 2008 and has launched into a down-ward death spiral!!

Im NOT HAPPY ABOUT OTHERS PROBLEMS - but someone needs to publish it - Borsen, Berlingske and JP did not..

After months of nothing but EVIL spin about Nyhedsavisen, it seems very strange (but of course predictable) that NO-ONE is writing about how serious the situation is for Berlingske Media as they are loosing money BIG TIME and fighting for its life with its parent group up to its neck with debt.

Here are the numbers for Berlingske that were announced today:

For new readers beware that ”exceptional items” is accounting language for BULLSHIT. Reducing staff and restructuring the organization are REAL cost of running a business in a down-turn and next year there will just be new “exceptional items”.

If you want to see how AMAZINGLY small a font “exceptional items” can be written in, see their presentation and accountson www.mecom.co.uk/investors (do they think small fonts make the problem go away?)

On top of this they will BULLSHIT even more with long talks about online growth when in fact only 5% of total revenue comes from online (90m versus 1.7 billion of newspaper revenue) - FUCK ALL and does not in ANYWAY compensate for the 13% loss in advertising revenue they had just in first half of 2008.

Furthermore, the loss of DKK 78 million is before interest so the parent Mecom has to crack the whip in other countries in order to service their DKK 6 BILLION DEBT! Bankers are knocking on the board room door as we speak as the terms state that the loan cannot exceed 3.5 times the group earnings (EBITDA). And this is not your standard bank overdraft - if you breach the terms you are TOAST!

Nyhedsavisen is squeezing Berlingske on EVERY FRONT and anyone who has spent 5 MINUTES in the newspaper business knows that you CANNOT staff cut your way out of a seriously accelerating advertising loss.

All in all - Berlingske is going DOWN!!

Of course this should also be of interest to JP/Politiken as there business completely mirrors Berlingske’s challenges with only ONE exception: they haven’t really started firing people yet!! Luckily, employees on JP/Politiken have a BOOMING job section in Nyhedsavisen to look forward to!!

And while I’m at it, why is no-one writing about the Metro BULLSHIT about 16% double coverage of Metro and 24 Timer when it is in fact 44%!! How can anyone be in ANY DOUBT that their business concept is so obviously thrown together using the exact same calculators the management used to DESTROY TV2 with!!

LONG LIVE NYHEDSAVISEN !!

This video made me fall in love with a trustfund, blond, bimbo, pop, porn, fashion, celeberty - bullshitter. Paris Hilton is playing the role - better then any sitcom or soap could EVER do it. Bye Bye Mcain

Only in Danish sorry

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Interessen for Nyhedsavisen har de seneste dage været enorm. Det forstår jeg godt. Og jeg er stolt over og glad for at kunne fortælle alle, at vi i aktionærkredsen i 365 Media Scandinavia A/S er blevet enige om vilkårerne for tilførsel af den fornødne kapital til fortsættelse af driften i Nyhedsavisen og Morgendistribution Danmark. Vi indsender derfor vores regnskab torsdag morgen.

1) Jeg vil gerne UNDSKYLDE overfor alle vores kunder og ansatte at forhandlingerne mellem aktionærerne har trukket ud.

2) Jeg medgiver at det kan virke uprofessionelt - som de lærde, eksperterne og min mor har valgt at antyde - men det er et mindre mirakel, at tingene er lykkedes - midt i en sommerferie og en finansiel krisetid hvor selv Korsbæk er i knæ.

3) Jeg har aldrig tidligere i mine 80 virksomheder haft så dygtige medarbejdere, ledere og bestyrelse.

4) Jeg har stadig absolut kontrol med selskabet – og min finansielle partner er i verdenseliten.

5) Jeg giver ALDRIG op – om jeg så skal ende som ham Monty Python ridderen, der råber og skriger - selv om han har mistet både arme og ben!

PS. Hvis du skal have kunder i din butik – og tænker på at bruge avis-annoncering – så deler vi 450.000 aviser ud til de mest interessante hjem hver morgen inden 07.00– og vores fantastiske konkurenter Jyllands-Posten, Politiken og Berlingske Tidende deler 120.000 ud. Vi er ikke meget billigere – men effekten er rigtig god.

PPS. Der bliver ikke mere kommunikation fra mig – nu skal der arbejdes.

This stuff realy moved something inside me - more pictures here via Google images. (I wonder if Google images is legal from a copyright point of view)

Im not into cars - but I must say that I subscribed to this show - because the presenter is crazy and the way they cut it is stellar…

3 rd larget social network in Spanish speaking worldEnrique whos is running this show - is just stellar - and I cant wait to se what will happen after the whole thing has been shaped up and given the look of a supermodel with a usability gurus touch ;) - we are now getting offers to sell and I cant wait to what will happen the next 3 monhs….

See alexa - wow -

PS. sorry for being such a lazy ass on posting - my twitters are pretty much upto date - and the face book pictures are good.

Its not possible for me to describe wth words how proud I am of Tommy Ahlers - with whom I started Zyb. Its sold today for 31mio€ to Vodaphone - and besides a THE VERY BRAVE VC
(Henrik Albersen from Nordic.com ) only Tommy and the amasing team can take credit for this one…

And for me: Its incredible to do it time after time ;) - sorry - I had to say it. AND IT IS!

I have had small chit chat conversations about headsets a lot over the last 3-4 months. No one I know is using a bluetooth headset - not even friend who have invested in it. And I think I have a conclusion:

1) You always loose them
2) You never have the charger with you
3) A wired headset is seems better

Wired headset bonus for me: When i drop my phone (happens 1-2times a day) - the wire saves it from hitting the ground more hen 90% of the time :)

Interesting interview with Eric Google

Nils Normann send me this poster - and I love it.

I’ve been in NYC since Saturday evening - and had meetings with Goldman, Bessemer, Chris Dixon (wow smart due), was at a Wired 10 people dinner invited by Chris Anderson (The Long Tail mann) to talk about free - the topic of his new book. Found it very interesting - and they where all very interested in my NewsPaper story - and well its pretty much FREE.

Big thanx to Dan Roth for inviting

Try this and imagine what it can be used for www.20q.net
This is intellectual hacking to me.

Playing in the micro league of investments one cant keep the eyes off Warren Buffet - here is a super interesting piece on Buffet

And one more time - my favorite quote:

“When the tide goes out, we find out who’s been swimming without a bathing suit.”

-Warren Buffett, July ‘07

Im proud to be in the panel at this event in Dubai

- Here is some interesting info and Video on Dubai via Dan Roth (now Wired)

Faisal Belhoul, Founder & Managing Partner
Ithmar Capital

Ali Erfan, Senior Advisor
Ithmar Capital

Joe Lacob, Partner
Kleiner Perkins Caufield Byers

Khaldoun Haj Hasan, Co-Founder & Managing Partner
Ithmar Capital

Michael Queen, Managing Partner – Infrastructure
3i

Dr. Ahmad Khayyat, Chief Executive Officer
Emaar Industries & Investments (Pvt) JSC

Prof. Dr. Monzer Kahf, Consultant in Shari’ah Finance and Economics

Deborah Magid, Director – Software Strategy
IBM Venture Capital Group

Hany Shawky, Director
Global Capital Partners LP

Sanjay Sehgal, Managing Partner & Chief Executive Officer
East West Capital Partners

Abrar Mir, Chief Executive Officer
NBD Sana Capital

Sarath Naru, Managing Partner
VenturEast Funds

Patrick von Bargen, Chief Executive Officer
Centre for Venture Education

Nicholas Parker, Chairman & Co-Founder
Cleantech Group

Hossam Shobokshi, Director  Principal Finance – Middle East & North
Africa

G Bala Subramanyan, Chief Investment Officer
M’Sharie

Dr. Ahmad Al Ghazawi, President and Chief Executive
Officer
Trium Pharma

Arno Castanet, European Research Manager – Venture Capital and
Private Equity
Dow Jones

Khaldoon Tabaza, Chief Executive Officer
Riyada Ventures

Ahmed Al Manasreh, Founder & Chairman
Sanad Venture Capital

Ziad Tassabehji, Director – Innovation & Investment
Masdar

Sadeq Sayeed, Senior Advisor
Nomura

Henry Makansi, Principal – Energy
Warburg Pincus

Gina Domanig, Managing Partner
Emerald

Jeffrey Leonard, President & Founding Partner
Global Environment Fund (GEF)

Alwaleed Abdul Abdelrahman, Senior Vice President – Private
Equity
Abu Dhabi Investment Company (ADIC)

Paul Deninger, Vice Chairman
Jefferies & Company, Inc.

Eric Chen, Partner
WI Harper

Max von Bismarck, Head of Investors
World Economic Forum

Morten Lund, Co-Founder & Managing Partner
LundXY, Global Ventures

Steve Smith, Partner
JS Private Equity

Dr. Adnan Al Sultan, Chairman
National Technology Enterprises Company (NTEC)

Andrew Tarbuck, Partner
Norton Rose

Christophe de Mahieu, Managing Director & Co-Head
Investcorp

Navin Valrani, Executive Director
Oasis Investment Company,

Al Shirawi Group of Companies (Engineering Services Group)
Pekka Maki, Managing Partner
3TS

Walid Bakr, Director
Riyada Ventures

Saad Bargach, Managing Director
Lime Rock Partners

Ayman Al Bannaw, ICT Business Development Manager
Noor Financial Investment

Chris Bongars, Chief Executive Officer
Cleantech Asia

Munther Hilal, Chief Executive Officer
Capital Industries & Investments

Karthik Ranganathan, Partner
Baring Private Equity

One more guy i really respected is dead - http://www.extent.nl/

I’ve been VERY VERY squished  in a couple of deals - and was a little scared wheather i could solve things. But I must say that everything I was ever told about how bad and cruel business and capitalism is suposed to be is WRONG. I have been heped out by my parters, my investments, my advisors, friends and my team - in a fantastic way.

Its all about LUCK ?

Seems that the Flickr community have a problem with Video

I made a deal with Laura that she has to jump 200 times a day to get the new toy ;)

CNBC just published this fine piece of selfpromotion on me ;)

OK – here is a story about a former colleague at one of my companies (not saying which one), let’s call him Bob.

One day Bob called in to inform his manager that he would not be coming to work that morning for personal reasons. Now, normally this would be a perfectly reasonable excuse and would lead to no further enquiries. Bob, however, was already known as the interstate call-in-sick champion with an impressive record as the least reliable employee with the most “sick” days. By far! Hence, a bit of prompting was called for:

Manager: What is the nature of your personal problem this time, Bob?

Bob: a close relative passed away and I have to go to the funeral

Manager: Again? … I’m sorry but I find that hard to believe. With the risk of sounding insensitive to your plight, please show me a copy of the obituary or some other form of documentation. I just really need to be sure that you’re not screwing us this time, Bob.

Bob: …………ahhhh……ahem …. Well, you see … it is not a family member… but rather a friend of mine who passed away. …. In a violent car accident… and I was also there with him in the car when it happened….

Manager: Ohhh – that’s terrible, Bob…That is just horrible – you must be devastated…… But, Bob, you do realize that the police keeps a record of all people involved in fatal accidents, right? And so, all I have to do is to call the police and get them to confirm that they took down your social security number as part of the routine investigation..

Bob.: ooohhh, weeeellll, then they would not find my name….. You see …..I was actually not in the car after all.. But I was in another car – and it was my fault that my friend had an accident.. you see,….. we were racing … and it’s was all my fault.

Manager: Wow – that’s really heavy, Bob. Why didn’t you just say so in the first place? Perhaps you can send me a copy of any newspaper clippings or a copy of the standard police rapport documenting the fatal incident – and then we’ll talk no more of this.

Bob: Okay……. Well, actually there never was any accident. The truth is that I am gay and that my boyfriend just died of AIDS. OK?

Manager: Bob …. please try to swing by the office. There is something we need to talk about.

Priceless