Creating the World’s First $2 Trillion Company With Apple Computer now officially the world’s most valuable company, it almost seems to be a foregone conclusion that — on the heels of its Samsung intellectual property triumph, and market momentum generally — the company is destined to be the world’s first-ever #$1 trillion (market cap) company. How can it get to $2 trillion? Buy Google. Here are the three reasons why such an acquisition makes sense — and why the U.S. Antitrust Department should OK it. One.  The history of technology is one of convergence and natural monopolies ..read more

The Warning Detector That Didn’t Beep How do you know that a new technology is a “keeper?” When it’s conspicuous by its absence. Exhibit A:  the warning detector that beeps in my car — but not my wife’s — as the driver backs up. Which explains how, driving her car and backing into a parking space the other week, I bumped into the car behind me (at 2 miles an hour, thankfully there was no damage). New Vocabulary:  “Getting ‘Norfed'” (Gronked?  Borked?  Grokked?) Along with new technology comes the need for new language to describe that technology (and the experience of using ..read more

U.S. Garage Sale Corporations that file for bankruptcy typically have their debt discharged — zeroing out their shareholders — and their new equity issued to erstwhile creditors. What’s the equivalent for sovereign nations? Put it this way: what would Alaska fetch on the open market? Seward’s Folly When Secretary of State William Seward orchestrated Alaska’s purchase from a financially crippled Russia in 1867 — pundits of the day derided it as “Seward’s Folly” — the price was a measly $7.2 million. Today, who knows? One trillion? Five trillion? We sell it to the Chinese for the upper end of th ..read more

Nov. 3 2009   Ranked Choice Voting: Cure For What Ails Us? There, that wasn’t so hard. I just left my neighborhood polling station, having completed my first-ever “ranked choice” ballot. Also called “instant run-off voting” (“IRV”), ranked choice allows voters to prioritize their preferences for each office to be filled. The math can be daunting, especially for races where there are multiple, open seats (like Minneapolis Park Board). However, the process itself couldn’t be simpler: you pick your first, second, and third choice, one per column, moving from left to right. Game-Changer? No b ..read more

“Substantially the Condition,” Defined (Sort of) [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the date of this Purchase Agreement.” Minnesota residential Purchase Agreement; lines 358. — 360. “I know it when I see it.” United States Supreme Court Justice Pott ..read more

Minneapolis condos for $200k normally don’t get national exposure — in this case, in The New York Times’ Real Estate section. So, kudos to Edina Realty’s Stephanie Chandler, for scoring the publicity for her listing at 3150 Excelsior Boulevard in Minneapolis, just west of Bde Maka Ska (formerly “Lake Calhoun”). The two-bedroom, two-bathroom condo is actually listed for $185k, and is located in a 1966 building close to Minneapolis’ Uptown neighborhood, Whole Foods, and the Chain of Lakes. Mass transit fans will note that it’s also literally a stone’s throw from the West Lake S ..read more

MLS: “3rd Bedroom on Upper Level is Large & Has Lots of Storage” There’s certainly nothing wrong with an Upper Level Bedroom (pictured above) that’s large and has lots of storage. But, what’s notable — at least to me — is what’s omitted. Errors of (C)omission Namely, any mention of a Bathroom, or whether the space has good overhead — always an issue with 1.5 story expansions. Sure enough, pulling up the tax records shows that the home is actually 1.2 stories, not 1.5. Meanwhile, pictures elsewhere in the listing indicate that the home’s two Bathrooms are on the main and lower levels, resp ..read more

What, (Almost) No Female Realtors?? [Note to readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] Can an NFL franchise be a perennial Super Bowl winner, and yet not have any superstars? Contrary to popular perception, the Miami Dolphins’ “No-Name Defense” — from the 1972 team that went undefeated and yes, won the Super Bowl — actually had five Pro Bowlers. What prompts that observation is the conspicuous omission of any Edina Realty ag ..read more

When Subjectivity Isn’t Just Superficial If the Comp’s aren’t convincing enough, Realtor “Jane Doe” will take Sellers on tours of comparable properties. “They can see this other house is in much better condition, and it’s priced $20,000 less than theirs. It’s eye-opening.” –Spokane agent, sharing her strategy for working with unrealistic Sellers in “Setting Them Straight”; Realtor Magazine.  Unh-unh. Sorry. Been there, done that. In my experience, would-be Sellers who harbor unrealistic ideas about their home’s appeal (or lack thereof) are hardly objective obse ..read more

Stretch of +90º Temps in the Twin Cities? Time to Head (Even Further) North This will no doubt come as sacrilege to many Minnesotans — and isn’t going to endear me to my colleagues who specialize in selling 2nd homes up north — but here goes: my theory about why so many of my fellow Twin Citians cherish a weekend — typically up north and on a lake — at their 2nd (cabin) home is that . . . they’ve all been brainwashed. Yes, brainwashed. By whom, you may ask? By city-dwellers who desperately want a way to empty out the beautiful City Lakes on Summer weekends, shorten restaurant lines, and gener ..read more