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In Just Four Days, NBA Teams Have Handed Out $291 Million In Terrible Contracts

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Kevin Garnett Boston Celtics Miami Heat Game 7

Last year's NBA lockout was supposed to curb the amount of overplayed players in the NBA.

But just four days into free agency, NBA teams are doing the same things they've always done — throwing bags of money at bench players, offering max contracts to second-rate centers, and ruining their cap space with a wide array of short-sighted moves.

We went through and ranked the 10 most egregious contracts of the summer so far.

All in all, they add up to a grand total of $291 million in wasted cash.

The usual teams are on this list (the Suns, Nets, and Raptors). But so too are some of the league's most respected franchises (the Celtics and Mavericks).

10. The Celtics re-up Kevin Garnett for $34 million over three years

Some thought KG might retire after getting bounced by the Heat in the Eastern Conference Finals.

But no, he's coming back and making a boatload of money.

This Celtics team is really, really old, and re-signing KG doesn't change that. They are going to wear down and get injured, just like they did this year.



9. The Mavericks signed 39-year-old Jason Kidd to a three-year deal worth $9 million

Jason Kidd looked finished last year.

In three years, he'll be 42-years-old, and the Mavs will still be paying him $3 million.



8. The Suns throw $34 million at Goran Dragic

On paper, this is an okay deal.

Dragic is a streaky scorer who can take over a game, and a lot of teams coveted him.

But the Suns just drafted a point guard in Kendall Marshall in the lottery. It doesn't make sense to limit his growth by paying big money to a guy who will expect to be the starter.



See the rest of the story at Business Insider

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The 10 Most Important Gadgets Of The 21st Century

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steve jobs iphone

We're only 12 years into the 21st century, but it's already proven to be a great time for technology.

From Apple gadgets to video cameras, here are the 10 most important devices to emerge in recent years.

10. Flip Video Camera

This all-digital video camera (and its subsequent iterations) made a joke out of more expensive camcorders that used tape and big batteries. It was something of an equalizer in that it had awesome one-button operation and was super-affordable, all while shooting high quality video.

The Flip may be dead now, but it helped kicked off the mobile video revolution.



9. Wii

The Wii thrust Nintendo back into the spotlight for a bit with its gyroscope-based controls and its mostly family-friendly games, where the focus is always first and foremost to have fun.



8. MacBook Air

Apple's super-thin laptop was a dream come true for travel warriors everywhere. It offered everything you needed and nothing that you didn't, sacrificing the optical drive to keep the device as thin and portable as possible. Today, we have a slew of other thin and light PCs called Ultrabooks.



See the rest of the story at Business Insider

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Here's How Your Birth Month Affects The Rest Of Your Life

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little girl birhday

Your birth month can impact the rest of your life, and not just on your birthday.

Scientists and statisticians have found that birth months affect everything from chosen career to attitude.

For instance, babies born in July are generally more optimistic through life. They're also more likely to have vision problems.

“It seems absurd the month in which you are born can affect life chances, but how long you live, how tall you are, how well you do at school, your body mass index as an adult, your morning-versus-evening preference and how likely you are to develop a range of diseases are all correlated to some extent with the time of year in which you emerge from the womb,” Russell Foster, an Oxford University scientist, told the Telegraph.

Read ahead to find out how your birthday affects your life and to see celebrities with your birth month.

JANUARY: People born this month are statistically more likely to have Alzheimer's, Crohn's Disease and epilepsy.

They're also the most likely to be born to a teen mother. Common professions include medicine and debt collection.

Celebrity birthday: Kate Middleton

Source: The Sun UK and The Telegraph



FEBRUARY: These babies are likely to grow up to be artists.

They are also more prone to food allergies and the sleep disorder narcolepsy.

Celebrity birthday: Ashton Kutcher

Source: The Sun UK and The Journal of Family Healthcare



MARCH: Many musicians are born this month.

But they're also thought to be more likely to get asthma. Another common career? Pilot.

Celebrity birthday: Lady Gaga

Source: The Sun UK and The Telegraph



See the rest of the story at Business Insider

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Here Are 8 Interesting Stats About Stocks And US Presidents

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franklin roosevelt

There are just four months until election day, and the presidential campaign rages on.

Some market historians have noted that there are some distinct patterns when it comes to elections and stocks.  Specifically, many remind us that election years tend to be good ones for stocks.

Are these correlations totally spurious?

"No," argue many experts.  Goldman Sachs' Jose Ursua, Professor Robert Prechter, and S&P Capital IQ's Sam Stovall are among the experts who argue that election cycles have major economic and behavioral implications for the stock markets.

We compiled everything we've heard about the relationship between stocks and politics. Maybe, you'll find it to be a useful guide to the stock market.  And perhaps even the election.

The 3rd year of a Presidency is usually the best

On average, the third year of a presidency is by far the best year for stocks, with double digit returns. 

That's not to say it's always the best year.  "However, as can be remembered vividly, this approach did not work at all in 2008," warns Citi's Tobias Levkovich.

Source: Citigroup



Stock market volatility spikes in the 2nd year, then levels off

From Goldman Sachs' Jose Ursua: "Volatility often sees a first post-election blip (as markets digest changes) and then a gradual increase towards the second year of the cycle."

Source: Goldman Sachs



Even non-U.S. markets are better explained when considering US election-related variables

U.S. election cycles explain more than just U.S. equity returns. From Goldman Sachs' Jose Ursua: "In particular, the election cycle in the US helps to explain a sizable fraction of non-US equity returns, both in other developed markets and in emerging markets."

Source: Goldman Sachs



See the rest of the story at Business Insider

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What It's Like Being A Programmer At Facebook (FB)

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facebook employee hackaton 14

Facebook's engineers are its most prized possession. They're given an enormous amount of autonomy and told to ship quality code quickly.

So, what's it like being a Facebook engineer?

Google employee Yee Lee wrote a huge post on what it's like shipping code at Facebook that he's compiled from talking to a ton of engineers.

It's pretty much exactly what you might think it's like — although there's a little more supervision than first expected.

Granted, this post was written about a year ago, but it doesn't seem like much has changed since the company has gone public.

First off, engineers make up a majority of Facebook's staff.

The two largest teams are Engineering and Ops, Lee says.

The two teams make up about half of the company.



There are plenty of product managers, though.

They are managers that make sure projects are getting shipped on time.

There are about 7 to 10 engineers per product manager, Lee says.



It all starts with "boot camp."

All engineers go through a 4 to 6 week training period, where they learn the Facebook way of fixing bugs and listen to lectures given by senior employees.

Around 10 percent of the employees coming in to Boot Camp don't make it through, and are counseled out.



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Check Out These Awesome Photos Of Obama And Romney Celebrating The Fourth Of July

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Obama July 4

Like many Americans, President Obama and presumptive GOP nominee Mitt Romney rang in the Fourth of July with parades, picnics and fireworks. 

But that doesn't mean the election was far from their minds.

Romney, who is vacationing with his family in Wolfeboro, N.H., walked with a crowd of supporters with the banner, "New Hampshire Stands With Mitt." He also delivered a speech from the back of a pickup truck to voters. 

Obama also hugged and high-fived supporters. After presiding over a naturalization ceremony for active service members — and renewing his election year call for immigration reform — he and the First Lady hosted their third annual Independence Day picnic for service members and their families on the South Lawn. 

Obama presides over a naturalization ceremony for active duty service members. He shakes hands with newly naturalized citizens in the East Room of the White House.



Obama high-fives a young visitor to the Fourth of July picnic on the South Lawn of the White House.



The President dons a red, white and blue cowboy hat, borrowed from a guest at the picnic.



See the rest of the story at Business Insider

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The Coolest New Tech From The Helicopter Industry's Renaissance

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eurocopter-x3

Flight Global has an excellent piece by Andy Healy about the helicopter business' recent development of 1950s innovative design with 21st century technology.

The ever expanding helicopter market has exploded with bold aircraft for both military and civilian use. 

Many of these designs go well beyond the tried and true rotor and propeller system that has defined generations of helicopter technology since their introduction into military use in the forties. 

Eurocopter thinks their X3 will be perfect for the Special Forces

The Eurocopter X3 prototype has just landed in the U.S. for a national tour that will see it spending quite a bit of time in the Washington area in an attempt to woo policymakers toward the design. 

Eurocopter intends the chopper to be used for search-and-rescue, border patrol, special forces operations, and troop transport. 

For this helicopter, speed is the name of the game. The two propellers on the sides of the craft both stabilize the helicopter — removing the need for a tail prop — as well as help it gain excellent acceleration and speed. 



The Eurocopter X3 will also make Medevac a much speedier operation

In case the military pitch fails to convince the Pentagon that the X3 is what they've been needing, Eurocopter expects that the craft will see many possible civilian uses. 

The helicopter can be used for corporate transportation in lieu of a jet, and the dual turboshaft engines will make it one of the fastest helicopters at the airport.

Given that it doesn't need a runway, it's a very versatile aircraft that maintains speed. 



AgustaWestland already considers their AW609 a success

AgustaWestland – an Italian and English company — already has seventy orders for their AW609.

The aircraft employs a tilt rotor design, allowing it to take off and land vertically while having similarities to a regular prop aircraft in flight. 

Despite the piling up of civilian orders, AgustaWestland is mostly aiming for the Military and Government market. The parent company, Finmeccanica, is one of the world's largest defense contractors. 



See the rest of the story at Business Insider

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We've Been DYING To Run These Gold Charts For You, And Now We Finally Can

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chart

A huge development happened in the world of economic chart-making today. FRED, the brilliant economics data and charts site that's run by the St. Louis Federal reserve, has finally added gold prices to the database.

Now at the tip of your fingers is gold priced in dollars and pounds going back to 1968, and gold priced in euros going back to 1999.

Not only is gold a fascinating commodity/quasi-money in its own right, there are so many myths about what gold is, and what its price represents, the inclusion of gold in this very easy-to-use database will prove to be incredibly useful.

To celebrate the introduction of the gold data, we've whipped up a handful of charts we've been wanting to make for awhile.

Here's your house priced in gold. As you can see, it's cheaper than it's ever been.



This is the S&P 500 priced in gold. We're very close to multi-decade lows.



This is a barrel of West Texas oil priced in gold. Again, it's cheap, though it's been cheaper in the past



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10 Good Reasons To Drink Coffee

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Starbucks Coffee

Coffee is a staple of daily life around the world — so much so that 136.5 million bags of coffee were consumed in 2011 according to the International Coffee Organization. That's up two percent from the 2010 totals.

A whopping 64 percent of U.S. adults over 18 drink coffee, according to the National Coffee Association, up from 58 percent last year. 

The steady rise in coffee in drinkers isn't such a bad thing.

There are numerous health benefits associated with that morning cup of joe besides a great boost in energy.

It will help you live longer

A 2012 study of over 400,000 individuals between the ages of 50-71 showed that drinking coffee was associated with living a longer life. 

"There was a significant inverse association between coffee consumption and mortality," the study said.

Source: New England Journal of Medicine



It may help prevent Alzheimer's disease

Drinking coffee throughout adulthood may delay or even prevent the onset of Alzheimer's disease, as David Liu of reported.

"Older adults with mild memory impairment who drink moderate levels of coffee -- about 3 cups a day -- will not convert to Alzheimer's disease -- or at least will experience a substantial delay before converting to Alzheimer's," said study lead author Dr. Chuanhai Cao of the University of South Florida.

Source: Foodconsumer.org



It boosts brain power and attention span

Drinking coffee with sugar boosts the brain's efficiency and helps lengthen your attention span. as reported by the UK Daily Mail.

A 2010 study in the journal Human Psychopharmacology found that "sugar-sweetened coffee may be the best way to prepare the brain for a busy day ahead."

Source: UK Daily Mail



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YACHT OF THE WEEK: For $19.9 Million, This 155-Foot Megayacht Is A Floating Mansion

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one more toy yacht $19.9 million

A 155-foot yacht called "One More Toy" is on sale for $19.9 million.

The ship flies under the Cayman Islands flag and is currently in the Caribbean. One More Toy can cruise at about 14 knots, and has a maximum speed of 20 knots.

Four Yamaha Wave Runners are included in the sale price of the yacht.

The name "One More Toy" is fitting because the yacht itself comes with several extra toys.



The ship was built in 2001.



The ship has fiber optic lighting.



See the rest of the story at Business Insider

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PHOTOS: Up Close And Personal With The Lamborghini Gallardo

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Lamborghini Gallardo

We recently took the Lamborghini Gallardo LP 550-2 Spyder for a spin. And we quickly found that the car, which has a sticker price of $239,000, is an absolute beast to drive.

We snapped some still photos so you can take in this high-end piece of machinery in more detail.

Hop in.



The gearbox is 6-speed and reverse, with an optional robotized sequential e-gear system with actuation by paddles on the steering column.



Like all Lamborghinis, the Gallardo sits low to the ground.



See the rest of the story at Business Insider

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9 Must-Download eBooks For Summer Reading

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kindle poolside girl

The summer is now in full swing so that means traveling, vacations, and more.

Relax during your downtime by reading these eBooks that are sure to either keep you entertained or teach you about something new.

A Game of Thrones: A Song of Ice and Fire: Book One

If you're into the Game of Thrones TV show you'll definitely want to check out the book. 

Amazon says, "this series comprises a genuine masterpiece of modern fantasy, bringing together the best the genre has to offer. Magic, mystery, intrigue, romance, and adventure fill these pages and transport us to a world unlike any we have ever experienced. Already hailed as a classic, George R. R. Martin’s stunning series is destined to stand as one of the great achievements of imaginative fiction."

Price: $8.99



Steve Jobs

This is an essential read for anyone interested in a behind the scenes look at the innovator entrepreneur who made his technology visions a reality.

The book is based on more than 40 interviews conducted with the tech titan over two years. Author Walter Isaacson also spoke with Jobs' family members, friends, rivals, competitors and colleagues.

Price: $14.99



The Kings Of Cool -- Prequel to Savages

Kings of Cool is a prequel to the novel Savages, which is also now a major movie.

The novel tells the story of how the characters met and their early struggles.

Amazon describes, "as the trio at the center of the book does battle with a cabal of drug dealers and crooked copsthey come to learn that their future is inextricably linked with their parents’ history. A series of breakneck twists and turns puts the two generations on a collision courseculminating in a stunning showdown that will force the characters to choose between their real families and their loyalty to one another."

Read an excerpt from the book.

Price: $11.99



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Minor League Baseball Teams Celebrated The Fourth Of July With Some Of The Ugliest Jerseys We've Seen

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Rochester Red Wings

For Minor League Baseball teams it is always a struggle to sell tickets, which leads to some of the more unusual giveaways and promotions.

Among the more popular promotions are the use of alternate jerseys for special occasions like the Fourth of July. And the more patriotic, more unique, wackier, and louder, the better.

On the next few pages, we'll take a look at some of the uniforms that were worn at minor league ballparks yesterday.

The Visalia Rawhide went with U.S. flag jerseys



Hard not to see the irony of the Spokane Indians wearing what is also basically an American flag



The stars across the top of this Arkansas Travelers jersey looks like pajamas



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Famiglia De Medici: The Extraordinary Story Of The Family That Financed The Renaissance

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florence dante

In his 1963 book, 'The Rise and Decline of the Medici Bank,' medieval economic historian Raymond de Roover likens the Medici banking dynasty to today's banking fortresses. 

And it makes sense. The early Italian banking system was, as it were, the first instance of "modern capitalism based on private ownership," wrote de Roover.

For that reason (and because the family was wildly successful at what they did) there's always been consensus that today's banks could learn a thing or two from the prolific Medici family. 

Before they were bankers, the Medici were doctors in rural town north of Florence

Medici is the plural form of the Italian medico.

Source: The Rise and Fall of the Medici Bank via Google Books



The Medici Bank was born in 1397

Giovanni di Micci de'Medici (1360-1429) was born into a relatively poor Florentine family and received only a nominal inheritance when his father died of the plague. 

He founded the Medici Bank in 1397, which became the most successful bank in Florence by his death in 1429. Most historians suspect he received help from a wealthy banker cousin. 

Source: The Rise and Fall of the Medici Bank via Google Books



At his death, Giovanni was worth 180,000 Gold Florins

That's about 36,000,000 million USD. 

He was the richest man in Florence. 

Source: The Rise and Fall of the Medici Bank via Google Books



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HOUSE OF THE DAY: A Fifth Avenue Penthouse With Panoramic Central Park Views Is On Sale For $17.9 Million

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fifth avenue penthouse $17.9 million

A co-op penthouse on Fifth Avenue is on sale for $17.9 million. The apartment has six bedrooms and six bathrooms.

The building has a doorman and private elevator access. The penthouse occupies the top two floors of the pre-war building and has 10 rooms.

Residents have access to the health club, laundry on each floor, and outdoor space. The penthouse has its own balcony space, which has panoramic views of the park and a fireplace.

Both the family room and dining room have wood-burning fireplaces.



The living room is covered in elegant wood.



The kitchen has state-of-the-art appliances, according to the listing.



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8 Things We Learned About 'The Amazing Spider-Man'

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spider-man

"The Amazing Spider-Man" was released Tuesday and is already shattering box-office records.

In two days, the Spider-Man reboot has grossed $59.3 million at theaters. Though that comes nowhere close to "The Avengers" two-day gross of $150.3 million, Spider-Man's well on its way to beating out the film's $207.4 million opening weekend.

Now, that you've seen the film, take a look at what didn't make it into the final cut, what role Anne Hathaway nearly had and what Sony has planned for the sequels. 

We've gathered bits from a recent SuperHeroHype interview with Spider-Man producers Avi Arad and Matt Tolmach, IMDB and from our own comic knowledge. 

The new Spider-Man franchise will be a trilogy (at the least).

Producer Matt Tolmach revealed to SuperHeroHype there are at "least three" more spidey films in the works. 

The film's Facebook page also wasn't keeping word of more sequels any secret:

“It’s finally here! The Amazing Spider-Man is the first installment in a movie trilogy that will explore how our fave hero’s journey was shaped by the disappearance of his parents.”



Dr. Connors isn't the only "Lizard."

Dr. Connors was the Lizard in this film; however, in the comics he unwillingly gave his son, Billy Connors, a dose of the Lizard formula. Little Connors then became known as Lizard Jr.



Anne Hathaway was originally supposed to star in "The Amazing Spider-Man."

Before landing the coveted role of Catwoman/Selina Kyle in "The Dark Knight Rises," Hathaway was set to play a different feline. 

The actress was originally to play Black Cat/Felicia Hardy in "The Amazing Spider-Man."

Instead, she'll play cat and mouse with the Caped Crusader. 



See the rest of the story at Business Insider

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15 Inspiring Olympic Athletes Who Will Make This Year's Games An Absolute Joy To Watch

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olympic track star lolo jones

One of the best parts about the Olympics every four years is the amazing back stories of the many athletes.

Whether it's escaping tough upbringings, battling physical or emotional ailments, or even escaping war-torn countries, these athletes haven't let anything get in their way.

All of them are hoping their will to persevere will help them stand at the medal podiums in London in a few weeks.

Carrie Johnson won't let Chron's disease — a debilitating and incurable digestive disorder — ruin her Olympic rowing dreams for the U.S. team

Source: Everyday Health



Double amputee Oscar Pistorius will run in the 400-meters for South Africa. He's the first amputee runner to participate in the Olympics

Source: Oscar Pistorius



Nur Suryami Mohd Taibi may be several months into her pregnancy, but she still plans to compete in rifle shooting for Malaysia

Source: Huffington Post



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Big, Beautiful Pictures Of The Enormous New Skyscraper That Londoners Seem To Hate

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Shard London

London's enormous Shard newspaper finally opened today, and will be (if only for a short time) the tallest building in all of Europe.

However, we'd like to put forward a new possible title — London's most hated building.

Yes, while the title isn't based on scientific data right now, the skyscraper seems to be getting a very negative reaction on Twitter and Facebook. The Guardian even wrote not one but two incredibly damning articles in the last fortnight, one evocatively titled "The Shard has slashed the face of London for ever" and another titled "The Shard is the perfect metaphor for modern London" (dek: Expensive, off-limits and owned by foreign investors").

At 1,016 feet tall, it is the 59th tallest building in the world.

Source: The Guardian



And currently the tallest building in Europe, though Russia's planned Mercury City Tower will surpass it by the end of the year.

Source: AP



The building was designed by Renzo Piano, also famous for the New York Times building in Manhattan.



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Wineries And Other Must-See Hotspots In California's 35,000-Acre Temecula Valley

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Temecula Valley Wines

This post originally appeared on Snooth.

A well-known secret lies in the heart of Southern California’s wine region: Temecula Valley Wine Country. About 85 miles south of Los Angeles and 60 miles north of San Diego near the Interstate 15 and 215 corridors, sits Temecula. Meaning “where the sun shines through the mist,” Temecula has over 40 wineries and award-winning premium wines from over 28 varietals.

Visitors should not expect to find a drop of Pinot Noir here. Instead, wines like Syrah, Cabernet Sauvignon and Viognier rule on the 35,000-acre land due to the cool coastal breeze between the Rainbow and Santa Margarita gaps. The best time to visit is during the harvest season in August through October, with the buds breaking in mid-March.

Thirsty yet? Read on to learn about wineries that will satisfy your taste buds!

Bella Vista

The first commercial vineyard in Temecula Wine Country is Bella Vista. Formally known as Cilurzo Winery on Calle Contento, it was established in 1968 and uses 80 percent estate grapes and 20 percent Temecula grapes. Visitors can sample six different varietals from the winery’s white, red and sparkling wines. Some favorites include a 2009 Rozmaring with flavors of apricot and honey, a 2009 Soiree Dry with peach flavors, a 2005 sweet Late Harvest Petite Syrah, a 2008 Black Magic made from late harvest Cabernet Sauvignon grapes with plum and cherry flavors, and a 2011 Muscat Canelli with exotic fruit flavors.

Just up the hill from the winery is a picnic area where you can enjoy spectacular views and walk out to a pond filled with geese (just watch out for Charlie, a goose who is protective of his friends!).



Briar Rose Winery

Once upon a time, up on the hill on Calle Cabrillo, lies the inspired Snow White cottage of Briar Rose Winery. Designed by an architect who assisted with the design of Disneyland in the 1950s, the layout is straight out of a fairytale with Snow White, the seven dwarfs, frogs, an old carriage and even an enchanted garden with gnomes.

Briar Rose gives customers a standard tasting featuring a bubbly, sweet wine lager called The Talking Frog, a peach-flavored 2011 Estate Viognier, a sweet, orange blossom 2011 Estate Riesling, a peppery and berry 2008 Zinfandel and a sweet, black cherry 2005 Zinfandel Port. The winery also has a charitable “We Remember” red wine filled with blackberry, raspberry and vanilla notes. All proceeds from purchasing the bottle benefit the Veterans Research Corporation.

A reservation to visit the tasting room is required.



Leonesse Cellars

Perhaps one of the wineries in Temecula Wine Country most known for its breathtaking views is Leonesse Cellars off of De Portola Road. Leonesse, which means “village of dreams,” is known for its red wines, but carries everything from Syrah, Cabernet Franc, Merlot and Cabernet Sauvignon to White Merlot, Muscat Canelli and Cinsault Port.

The tasting room offers customers the choice to sample six of their white, red, premium, dessert or sweet wines. It is also the only winery in Temecula Wine Country to offer Cinsault wine, theirs showing cherry and hints of vanilla and strawberry. Another favorite is the 2009 Cabernet Sauvignon with blackberry, vanilla and mint flavors.

Leonesse also offers a restaurant serving appetizers, salads, sandwiches and flat breads that are paired off with one of the Cellar, Vineyard or Signature Selection wines.



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For $60,000 A Month, Live In A Sky-High Penthouse Designed By Frank Gehry

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New York by Gehry building

For $60,000 a month you can live in the penthouse of the tallest residential building in the Western Hemisphere—for now at least.

The New York by Gehry building, designed by Frank Gehry, towers 870 feet above the streets of Manhattan. The skyscraper sits on Spruce Street, over looking the construction site at One World Trade Center.

Depending on which of the three penthouses you pick, rent will range from $45,000 to $60,000 a month, according to the New York Daily News.

The kitchens in the units are equipped with luxuries such as six-burner Miele stoves and Sub-Zero icemakers.

The building offers an indoor pool, baby grand piano, and personal Pilates rooms to its renters.

Welcome to The New York by Gehry building.



"You're higher than the helicopters up here," Cliff Finn, president of New Development Marketing at Citi Habitats, told the Daily News.



The building has become part of the New York skyline.



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