Trade Secret:Trade Me founder Sam Morgan, already one of the richest men in New Zealand, is getting another $14 million or so bonus from the success of his online auction site.
Fairfax Media said yesterday it paid an extra $45 million to the original Trade Me shareholders, after Trade Me made operating profits of $70 million this year, up 39 per cent.
Online Trade and auction site:The partners got another $4.8 million last year, after hitting profit targets set when the firm was sold in 2006, taking the total sale price to $750 million.
Mr Morgan was worth an estimated $260 million earlier this year. He is on a "no phone calls" holiday with his family in Germany and France for a couple of months after stepping down as chief executive of Trade Me this year.
Online Trade and auction site:When in Wellington, Mr Morgan spends about a day a week at Trade Me's offices, and he remains chairman of the Fairfax offshoot.
"Sam is in Europe visiting various places he hung out at as a teenage exchange student," Trade Me business manager Mike O'Donnell said.
Online Trade and auction site:Mr Morgan spends more time these days as an investor in early stage businesses through his company Jasmine and as a "social investor and philanthropist".
Online Trade and auction site:Some recent investments included business intelligence software company iVistra Technologies and a Wellington human resources software maker Sonar6. Mr Morgan is also a director and investor in Xero, an online accounting software firm, and is investing in a firm that makes low cost intravenous drips.
Online Trade and auction site:His father, investment adviser, travel writer and philanthropist Gareth Morgan, and his wife Joanne, will get just under 7 per cent of the bonus, and like the original payout, that will go into his charitable foundations.
Online Trade and auction site:Gareth Morgan said yesterday he was "travelling illegally in Transdneistr", a breakaway province of Moldova, after being told by police the border was closed.
Online Trade and auction site:"These cross-country [motor] bikes are great for those of you who like not doing what you're told," he said.
Online Trade and auction site:Mr Morgan has travelled widely by motorcycle around the world. His latest trip includes Iceland, the top of Norway and Russia.
As a UN Children's Fund ambassador, Mr Morgan will be in Romania today spending a day with Unicef on flood relief work.
Online Trade and auction site:Half a dozen directors of venture capital company Movac, which put in $75,000 to help get Trade Me going, became multimillionaires as a result of the sale to Fairfax and will share in the latest bonus, along with a group of other original investors.
Trade Secret Printing To Host Open House
Trade Secret:one of North Americas’s fastest growing Trade Printer's is pleased to announce they will be hosting an OPEN HOUSE on Thursday, August 21,2008 from 1 pm to 5 pm to celebrate the completion of their new manufacturing facility at 40 Horner Ave, in Etobicoke, Ontario. The 104,000 sq ft building was acquired to house the new Goss M2000 24 page Sunday Press, 2-6 colour Heidelberg ( Web Site Executives Related Articles Google) and a 10 Colour Heidelberg Sheetfed press with roll-to sheet as well as the Full bindery facilities.
The Print Community is invited to tour the building and observe the new press in operation, along with a new high speed stitcher with in-line variable inkjet printing capabilities.
Trade Secret:on Tuesday said it initiated a lawsuit against Apex Medical Technologies, Inc. and its president, Mark McGlothlin, for infringing I-Flow's Patent and misappropriating I-Flow's valuable trade secrets. Trade Secret:The legal action states the Solace Pump was developed using I-Flow's secret information and infringes I-Flow's patent. Recently, Judge Sabraw of the United States District Court for the Southern District of California interpreted the patent claims in a manner consistent with I-Flow's position in the case.In separate actions, I-Flow has sued two distributors of the Solace Pump and would continue to seek enforcement of its intellectual property rights against entities and individuals who make, use, sell, or offer to sell the Solace Pump. Trade Secret
The Print Community is invited to tour the building and observe the new press in operation, along with a new high speed stitcher with in-line variable inkjet printing capabilities.
Trade Secret:on Tuesday said it initiated a lawsuit against Apex Medical Technologies, Inc. and its president, Mark McGlothlin, for infringing I-Flow's Patent and misappropriating I-Flow's valuable trade secrets. Trade Secret:The legal action states the Solace Pump was developed using I-Flow's secret information and infringes I-Flow's patent. Recently, Judge Sabraw of the United States District Court for the Southern District of California interpreted the patent claims in a manner consistent with I-Flow's position in the case.In separate actions, I-Flow has sued two distributors of the Solace Pump and would continue to seek enforcement of its intellectual property rights against entities and individuals who make, use, sell, or offer to sell the Solace Pump. Trade Secret
