Washington's Financial Stars will Shine at the POC

On the heels of last month's visit from the legendary Lockheed Chairman Norm Augustine (view pictures here), have come two more area titans. If you were pleased by Norm, you will be delighted to hear from this month's speakers David Rubenstein, co-founder of The Carlyle Group and Nigel Morris, co-founder of Capital One (Click here to register ), sponsered by the world calss law firm Shaw Pittman. These two financial service executives have brought dominant, world class organizations to the town that was once only considered to be the land of government contractors and lawyer's lawyers.

These men used their vision to overcome hurdles and minefields and have transformed many of the perceptions of business in the beltway region. The Potomac Officers Club offers its members the opportunity to see "Headline Speakers on Headline Topics" and this month is certainly no exception. We are thrilled to be presenting our POC Star award to these great men for their contribution. These men helped to build the foundation of a rapidly evolving financial powerhouse and brought new ideas to the greater Washington DC economy.

Please join me in welcoming a new columnist to the POCNews, Gary Arlen, nationally recognized technology Maven. We would also like to welcome our newest sponsors; Laughlin, Marinaccio & Owens Advertising (a.k.a. LM&O) that will be sponsoring our January event and Cooley Godward, represented by Michael Lincoln. LM&O has been recognized locally, regionally and nationally with over 20 awards for excellence in creativity and design. These awards include American Advertising Awards (ADDY's), Galaxy Awards, Mercury Awards and others.

For a Change of Pace, May I Ask Your Ideas?

Ok, we're going to see how many of you actually read this column, and in fact read it to the end. I'd like to invite your assistance, especially those of you with background in telecom, and I know that's a fair number of you.

I sat at a Redskins game this week with a renowned telecom pioneer, who shall go nameless, but someone I've read about for years but actually never met. Now, I know very little about telecom, at least not much more than I read in the daily newspaper. I don't go to conferences or read analyst reports or debate the topic with colleagues. Remember, I'm just a humble interviewer who races back and forth across the widest spectrum of issues. (Okay, enough with the excuses.)

Anyway, this fine fellow said he'd heard my Bisnow on Business spots over the years on radio, and I could suddenly see it coming: he thought I might actually know something! So, he wondered, what did I think the future was for wireless? (Footnote: it was a great and eventful game, and this was not during any major play action, lest you think I am one of those people who goes to a Redskins suite just to do the schmoozarama and doesn't pay sufficient attention to the game, although there might be a tiny little bit of truth to that.)

Well, I barely know the present of wireless, let alone the future. My greatest knowledge comes from fumbling with my antique cell phone, once having had a Blackberry that I couldn't stand, and this weekend having learned for the first time from my kids how to send text messages on their more modern phones. Yes, I have been to Nextel a few times for interviews, but knowing a couple hours worth about what one company does, does not a broad industry analysis make.

Fortunately, I am not an interviewer for nothing; I turned the tables, and immediately asked him. Unfortunately, there was a sudden Redskins advance, crowd noise, and we got diverted. So I never really found out.

But the question haunts this interviewer. (See how I so effortlessly use that third person conceit of big time columnists?) What IS the future of wireless? I have read the reports on the wireless portability decision in the paper this week and know that will have some impact at least in the short run, but I'm not sure what. I need some authoritative views and distilled wisdom. I'd like to do a piece on this subject at that vastly famous and important journalistic site, Bisnow.com--so I need your help. If you have thoughts about the future of wireless, can you drop me a line at mark@bisnow.com? Let me know if I can quote you. See, you did have to read to the end.

Do You Have An Estate Problem?

You and your spouse have spent a lifetime of hard work accumulating assets. You've done so well that there will be plenty left to pass on to your heirs, even after you've enjoyed "the good life" for a lifetime. But without proper planning, much of that inheritance could go to the IRS, not your heirs.

That's because you can leave only $1,000,000 to (non- spouse) heirs without any estate tax. But everything above that figure is subject to tax, at rates ranging from 41% to 49%. If you are married, attorneys can show you how to legally avoid estate taxes on amounts up to $2 million. And starting January 1, 2004, you can leave up to $1.5 million estate tax-free ($3 million for married couples).

But what if you're worth more than that? Say your net worth is $5 million. The IRS could get as much as $1.9 million! How can you arrange for that money to go to your children instead? Enter the second-to-die life insurance policy. To learn how more, go to http://www.ricedelman.com/planning/ins urance/secondtodie.asp

The Redskins bashing is over... for now!!

The Washington Wizards traded Jahidi White to Phoenix for Brevin Knight after just four games. Jahidi had trouble catching the ball, and I'm told that was step one in the motion offense. If you're scoring at home, (good for you), the Wiz lose 11-inches and 120 pounds in the deal.

Eddie Jordan is getting high marks in the early going, if for nothing else than holding guys accountable for their actions, (see Jarvis Hayes benched for 3rd quarter of a game for throwing a ball into the stands)

As for the Capitals, let's just say, the Redskins are happy to hand over the moniker of "team turmoil" for now. Butch Cassidy could use a little sun dance.

The Orioles in the "if you can't beat them, hire them" category, named now former Yankees first base coach Lee Mazola their new skipper. Had me scared, for a minute there I thought they'd hired Liza Minnelli.

TiVO and Beyond: Time to Plug into Digital Video Recording

Gary Arlen is a nationally recognized commentator and advisor on communications, media and digital technology. He heads Arlen Communications Inc., a Bethesda, MD, research and consulting firm.

When TiVo became a verb (as in "I TiVo'd every episode of 'Arliss' for me and 'SpongeBob SquarePants' for my kid"), we knew that the Digital Video Recorder, or DVR (also called the Personal Video Recorder, or PVR) had won its place in the media-tech pantheon. Owners invariable start their DVR extollment by explaining how "It how it has completely changed the way I watch TV."

With 40 or more hours of video on tap, it should!

DVRs - now priced under $200 - are built around a high- capacity hard drive with an Electronic Program Guide to help you find the shows you want and automate the recording process. Some versions require a monthly subscription fee for the program guide; some feature home networking components so you can watch a show in your bedroom or family room, fed from the DVR in your den. There are even third-party developers who can soup up your device to store hundreds of hours of viewing.

Yet despite the high recognition and "must-have" factors, DVRs have been slow to enter America's homes. TiVO just sold its millionth unit, and other models collectively are attached to barely 3% of American TV sets after three years of intense marketing.

That's about to change. Most of today's DVR installed base are bundled with DirecTV or EchoStar satellite receivers. The satellite companies are nearly giving away the recording capability in their effort to lure customers away from cable television.

The cable companies are slowly getting ready to offer a comparable product, built into their set-top boxes. In the Virginia suburbs of Washington, Cox Cable recently tested a DVR set top box for a small extra monthly fee.

Coming up next: very compact hard drives that will put DVR capacity directly into TV sets. Look for those starting early in 2004.

Looming barriers include networks' plans to bar "fast forwarding" so you cannot skip through commercials - in case you hadn't figured out what the 30-second and 60-second jump ahead buttons are for on some DVR remote controls.

In fact, my favorite DVR moment in recent years came when I was chatting with the president of a TV network. I mentioned that I particularly enjoyed one of his shows that season - and especially liked seeing it via my DVR where I could watch the hour-long episodes in 46 minutes.

"Forty-one," he muttered quietly - a coy admission that his network shoves 19 minutes of ads and tune-in promotions into each hour.

Exactly the reason DVRs change viewing patterns. Not to mention letting you create your own instant replays.

GaryArlen@columnist.com may pry away from his DVR viewing to reply to queries.

Mark Gercenstein - President and CEO of Tachyon, Inc.

Recently, the POC and Mark Gercenstein, President and CEO of Tachyon, Inc., had a chance to catch up. Here is what Mark had to say:

What is your background?
I have over 28 years of global telecommunications and aerospace experience in fields such as business development, marketing, operations and technology.

Before joining Tachyon in March, 2001, and prior to my tenure with InterDigital, I served as vice president of business development and marketing strategy for Motorola's Fixed Wireless Broadband Systems Group. I've also served as senior vice president of business operations for Iridium LLC, where I established and managed the integration of 12 international telecom franchises comprising the Iridium Network.

What is your role at Tachyon?
I serve as President and CEO for Tachyon. In addition to setting and guiding the company's strategic direction, my role is also that of growth agent, helping drive corporate expansion through continuious technology and business development, in close collaboration with my excellent team.

How/why did you come to the POC?
I was introduced to the POC by one of my senior managers and one of the POC members.

What would you like to get out of your membership with the POC?
As a rapid growth company which has recently relocated its headquarters to the Washington, D.C. area, its imperative for Tachyon to quickly become an integral member of the region's business community. Given the POC's charter and its influential membership, I view the POC as a key component of our integration strategy, and I hope to add value to the organization as well.

To read more about Tachyon, Click here for more info.

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From the Editor

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