Red Flag, the secret supermarket in the walled grounds of Zhongnanhai, China’s Krelim and well-guarded headquarters of China’s central party and government leaders, has closed

Zhongnanhai’s Secret Supermarket

2013-03-26 18:44

Translated by Li Jing and Pang Lei

1364294542308
Update: Cao Shiru (曹世如), the chairwoman of the Red Flag supermarket, revealed onher Sina Weibo account yesterday afternoon that the Zhongnanhai supermarket closed way back in 2003, not long after it opened.

One of the top stories floating around China’s internet today was about a Sichuan supermarket chain that managed to open up a store within the walled grounds of Zhongnanhai, the well-guarded headquarters of China’s central party and government leaders.

Sometimes referred to as China\’s Kremlin, Zhongnanhai was once part of the Forbidden City with its lakes – Zhongnanhai (中南海) literally translates as the Central and Southern Seas – were part of the former imperial gardens.

Reports said that the Red Flag supermarket chain’s (红旗连锁超市) outlet within the walled compound has now closed, though no-one seems to be really sure when it happened. The store was reportedly opened in December 2003. Read more of this post

China’s “black clinics” flourish as government debates health reform

China’s “black clinics” flourish as government debates health reform

12:31am EDT

By Hui Li and Ben Blanchard

BEIJING (Reuters) – A one-room shack with a single, bare light bulb on a non-descript Beijing side street is 29-year-old Chinese migrant worker Zhang Xuefang’s best recourse to medical care.

Not recognized as a Beijing resident, she does not qualify for cheaper healthcare at government hospitals, and her hometown is too far away to take advantage of medical subsidizes there.

Like millions of other migrant workers, Zhang, on whose labor China’s economic boom depends, is forced into a seedy and unregulated world of back ally “black clinics” if she falls ill.

The issue highlights the two-tier nature of China’s overburdened health care system and goes to the heart of a heated debate about how to reform the contentious “hukou” system of household registration, a cornerstone of government policy for decades which essentially legalizes discrimination between urban and rural residents. Read more of this post

Outsourced Chief Investment Offices Gain Traction with Institutional Investors

MARCH 25, 2013

Outsourced Chief Investment Offices Gain Traction with Institutional Investors

Everyone from former endowment CIOs to asset managers is hanging out a shingle as an outsourced chief investment office. As endowments, pension funds and other institutions take advantage of OCIO services, this growing market will consolidate, experts say.
By Frances Denmark

This January, Matthew Wright joined a growing trend by walking out of his office at Vanderbilt University. He didn’t walk far. The former vice chancellor of investments founded Disciplina Group, an outsourced chief investment office, or OCIO, in Nashville.

Wright’s exit is part of a stream of high-profile talent from endowments that began in 2004, when former University of Virginia CIO Alice Handy founded Charlottesville, Virginia–based Investure. Mark Yusko left the University of North Carolina to launch Chapel Hill, North Carolina–­based Morgan Creek Capital Management, and Scott Wise departed Rice University to set up financial services firm TIAA-CREF’s Covariance Capital Management. When these people leave their posts, there’s no guarantee that they take their former institution with them.

As the OCIO business stakes out its turf, there seems to be an insatiable demand for veteran endowment investors to step in and manage endowment assets. But not everyone is convinced. “It’s an incredibly overcrowded space right now,” says Kevin Quirk, a founding partner of investment management consulting firm Casey, Quirk & Associates, in Darien, Connecticut. Read more of this post

‘Big Data’ for Cancer Care; Vast Storehouse of Patient Records Will Let Doctors Search for Effective Treatment; Some 1.6 million Americans are diagnosed with cancer every year, but in more than 95% of cases, details of their treatments are “locked up in medical records and file drawers or in electronic systems not connected to each other,”

Updated March 26, 2013, 8:46 p.m. ET

‘Big Data’ for Cancer Care

Vast Storehouse of Patient Records Will Let Doctors Search for Effective Treatment

By RON WINSLOW

A major oncology group is launching an ambitious project to collect data on the care of hundreds of thousands of cancer patients and use it to help guide treatment of other patients across the health-care system.

Cancer doctors would be able to consult the database, much like doing a GoogleGOOG +0.34% search. They would get advice on treatment strategies that might work for their patients based on how similar patients fared in practices around the U.S.

Details of the plan are being unveiled Wednesday by the American Society of Clinical Oncology, a nonprofit professional association.

It is the latest example of emerging efforts in medicine to harness the power of “Big Data” to improve care. It reflects growing expectations that information gleaned from huge clinical databases can speed learning about benefits and harms of treatments, support efforts to improve quality of care and hasten development of new medicines.

Some 1.6 million Americans are diagnosed with cancer every year, but in more than 95% of cases, details of their treatments are “locked up in medical records and file drawers or in electronic systems not connected to each other,” said Allen Lichter, chief executive office of ASCO. “There is a treasure trove of information inside those cases if we simply bring them together.” Read more of this post

China’s officials go underground to defeat moves to curb their lavish feasting

Officials go underground to defeat moves to curb their lavish feasting

Wednesday, 27 March, 2013, 12:00am

Keith Zhai and Minnie Chan

Officials dodge Xi Jinping’s curbs on luxury by turning canteens into five-star restaurants and meeting businessmen away from public gaze

Xi Jinping’s call for officials to cut down on extravagance and feasting appears to have hit a snag at the local level.

Officials from four different regions have told the South China Morning Post that the banquets have merely gone underground, where they are now being held in much more lavish style.

Two officials in Fujian province said many canteens in government departments had been renovated and had hired chefs from the region’s finest restaurants after outside banquets were banned as part of the Communist Party leadership’s anti-corruption and austerity drive.

“Such renovation is not only happening in Fujian, but in many provinces around the country,” one of the officials said. “There are plenty of ways at the local level for cities to get around rules from the top.”

There are plenty of ways at the local level for cities to get around rules from the top. Read more of this post

What Will You Create to Make the World Awesome? Like the poet Mary Oliver’s beautifully haunting question: “Tell me, what is it you plan to do with your one wild and precious life?”

What Will You Create to Make the World Awesome?

by Greg McKeown  |  12:00 PM March 26, 2013

sketchyourcareer-thumb-580x373-3574connectthedots-thumb-580x373-3577

When web designer Ben Blumenfeld was working for a major TV network, he was responsible for creating websites for mainstream shows. One day, he made a breakthrough that led to a significant uptake on a show, but the success struck Ben in a way he had not expected. His success meantmore people would spend even more time watching TV, and he ultimately didn’t see that as a goodthing.

The moment proved to be an inflection point for Ben. He decided to stop thinking of his career as something separate from himself, and the values, ideals and principles that were important to him. He believed in making a positive impact in his community, and realized his day-to-day work wasn’t aligned with that. He decided it was time to pursue a path that baked his mission into his career. Read more of this post

Eurozone’s bully boys will come to regret penalising tiny Cyprus

Eurozone’s bully boys will come to regret penalising tiny Cyprus

Europe’s monetary union was meant to be about solidarity among the many and prosperity for all.

An immediate collapse of 10pc to 20pc in national income is in prospect, with unemployment soaring to more than a quarter of the population Photo: EPA

By Jeremy Warner

8:17PM GMT 25 Mar 2013

In practice, it’s turning out to be a doomsday machine for the fringe economies that once so enthusiastically lined up to join.

If even Wolfgang Schaeuble, the German finance minister, is prepared to admit that Monday’s bail-out is a bitter pill for Cypriots to swallow, then it must indeed have been merciless. Nicholas Papadopolous, chairman of the Cypriot parliament’s finance committee, had a rather blunter way of putting it: “We are heading for a deep recession, high unemployment. They wanted to send a message that the Cypriot economy ought to be destroyed, and they’ve succeeded. They’ve destroyed our banking sector.”

The terms of this latest bail-out are scarcely any better than the ones so comprehensively rejected by MPs only last week. The offshore banking model on which so much of the island’s recent prosperity has been built is being broken beyond repair. Small wonder the latest package is structured in a way that doesn’t require another parliamentary vote. Democracy is once again being suspended for the supposed sake of the single currency. Read more of this post

Corporate Field Trip: Learning From Startups

Updated March 26, 2013, 4:13 p.m. ET

Corporate Field Trip: Learning From Startups

By RACHEL EMMA SILVERMAN

Maybe Goliath can learn a few things from David.

A handful of large companies, including PepsiCo Inc. PEP +1.40% and snack company Mondelez International Inc., MDLZ +1.37% are sending small groups of employees to work stints at technology and media startups, learning how smaller companies get things done with fewer resources, often at a quicker pace.

The hope, managers say, is that workers who spend time immersed in small, emerging firms will bring some of that scrappy spirit back to headquarters and change the way things get done.

At Mondelez, a corporation of about 110,000 employees created when it was spun off from Kraft Foods KRFT +1.20% last year, managers wanted to jump-start efforts to shift more of its marketing to mobile devices. So they chose nine mobile-technology startups to host Mondelez staff, among them inMarket, a two-year-old Los Angeles mobile-marketing firm with a staff of 20. Read more of this post

Big Players Cash Out of Hong Kong Property

March 26, 2013, 3:00 p.m. ET

Big Players Cash Out of Hong Kong Property

By ISABELLA STEGER

HONG KONG—With the government growing confident that it has halted the meteoric rise in property prices, some of this city’s biggest real-estate investors are getting out.

Several of Hong Kong’s wealthiest families are planning initial public offerings of hotels, offices and other real-estate assets in coming months, while others are lowering prices on luxury apartments to entice buyers.

“Developers are selling assets at the very top of the market, when appetite is big, and interest rates are low,” said Christopher Wong, senior investment manager at Aberdeen Asset Management ADN.LN +4.03% in Singapore. Read more of this post

Europe’s financial crisis costing lives, suicides and infectious diseases on the rise

Published: Wednesday March 27, 2013 MYT 8:49:00 AM

Europe’s financial crisis costing lives, suicides and infectious diseases on the rise

LONDON: Europe’s financial crisis is costing lives, with suicides and infectious diseases on the rise, yet politicians are not addressing the problem, health experts said on Wednesday.

Deep budget cuts and growing unemployment are tipping more people into depression, and falling incomes mean fewer people can see their doctors or afford to buy medicines.

The result has been a reversal since 2007 of a long-term decline in suicide rates, coupled with worrying outbreaks of diseases including HIV – and even malaria – in Greece, according to an major analysis of European health in The Lancet journal.

Countering these threats requires strong social protection schemes, researchers argue. But the austerity measures imposed after a string of crises in southern Europe – most recently in Cyprus – has shredded such safety nets. Read more of this post

Abandoned gold loans are India’s “jingle mail”

Abandoned gold loans are India’s “jingle mail”

MARCH 25, 2013

By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The myth that Indians’ love for gold is driven by tradition rather than financial self-interest has been dashed. Falling prices have prompted borrowers who took out loans secured against the yellow metal to break a cultural taboo and abandon their collateral. It’s the Indian equivalent of American homeowners who walked away from their underwater mortgages by mailing the keys to their homes to the bank.

India’s version of the “jingle mail” came to light when Manappuram Finance, a lender against gold, recently warned that defaulting borrowers would force it to report a quarterly loss. The lender’s Mumbai-listed shares tanked 31 percent over just three days. The precipitous fall was partly due to concerns the company had selectively leaked its guidance — a charge Manappuram denies. But clearly the lender, which was forecasting a profit as recently as February, had underestimated the borrowers’ response. Read more of this post

India Plans New Rules for Companies Pawning Shares to Borrow after uneven disclosures resulted in some small companies plunging 80 percent last month.

India Plans New Rules for Companies Pawning Shares to Borrow

By Pradipta Mukherjee and Santanu Chakraborty  Mar 26, 2013

India’s capital market regulator will frame stricter rules for companies and owners pledging shares as collateral to borrow funds after uneven disclosures resulted in some small companies plunging 80 percent last month. The Securities & Exchange Board of India is also planning to overhaul regulations for insider trading, as well as share repurchases, Chairman U.K. Sinha said in Kolkata today. The regulator set up a panel on March 5 to review insider trading rules. Indian companies had pledged as much as 1.5 trillion rupees ($28 billion) of shares to lenders as of Dec. 31, Morgan Stanley said in a report on Feb. 21.

“People have come out with creative solutions with some instruments through which they are pledging shares and they are not informing the stock exchange,” Chairman U.K. Sinha said today in Kolkata, without elaborating. “Very soon we will take measures to ensure that all kinds of encumbrances are reported well in time so the market knows about it.”

Sinha is reviewing regulations to raise corporate governance standards in the $1.2 trillion market. A dozen companies on the S&P BSE500 index plunged last month amid speculation the shares pledged by company’s founders in return for loans have been sold. Core Education & Technologies Ltd. (CETL) crashed 80 percent, Gravita India Ltd. (GRAV) 38 percent and ABG Shipyard Ltd. (ABGS) 17 percent in the period. Founders who have pledged a large chunk of their shares risk losing control of their companies should a drop in equity prices erode the value of the collateral, according to CNI Research Ltd. (CNIR) Borrowing costs in the $1.8 trillion economy are among the highest in Asia. Read more of this post

Integrating foreigners isn’t a lost cause

Integrating foreigners isn’t a lost cause

On a recent trip to present a research paper in Tokyo, I was surprised to not hear a single mobile phone ringing or a commuter talking loudly on the subway. Despite the train coach being notoriously crowded, the quiet was deafening.

Zhang Jianlin is a Senior Lecturer in Economics at SIM Global Education.

5 HOURS 1 MIN AGO

On a recent trip to present a research paper in Tokyo, I was surprised to not hear a single mobile phone ringing or a commuter talking loudly on the subway. Despite the train coach being notoriously crowded, the quiet was deafening.

Just as I was starting to wonder why the Japanese were behaving so considerately towards others, I heard announcements, first in Japanese then in English, over the sound system that all mobile phones must be switched to silent mode inside the coach.

What can we learn from the Japanese subway management to help our foreign friends better integrate in Singapore? Our Government has in recent times been sounding the refrain that foreigners whom Singapore welcomes to its shores must do their part in learning and adapting to our culture. Will this be a call in vain?

From a behavioural economist’s view, I believe not. It is in one’s self-interest not to deviate from the social norms of the society we live in. Read more of this post

Shadow Loans Hard to Squelch in China City Hit by Suicide

Shadow Loans Hard to Squelch in China City Hit by Suicide

Zhou Xiang is playing with his mobile phone in a room just big enough for a desk and chairs at the year-old Wenzhou Private Lending Registration Center. Not a single prospective customer has shown up for hours.

As a government-sanctioned loan broker seeking to match cash-strapped business owners with private investors, Zhou is one of the few people who can even be found inside the two-story building in a high-end residential district of Wenzhou, a city of 9 million people in China’s southeastern Zhejiang province. Rows of airport-like seats are empty.

“Only those who are really out of options would come here for loans,” says Zhou, a manager at Sudaibang, one of five independent brokers operating out of the center. “Most of the time, you would find these firms so weak financially that they can be literally crushed by a straw. The volume of lending is so low that we ourselves won’t be here long without expanding into some other businesses.”

One year after China’s leaders picked Wenzhou to start a pilot program designed to curb and regulate the city’s informal shadow-lending networks, it’s clear, based on a recent trip to the country’s epicenter of private lending, that the plan isn’t working. Small firms it intended to benefit still can’t access loans because they lack collateral and are struggling to stay afloat. At least one broker, Beijing-based CreditEase, has given up, citing a gap between the center and targeted borrowers. Read more of this post

Foxconn Plant in Peanut Field Shows Labor Eroding China’s Edge; “China’s advantage in low-cost manufacturing will end much sooner than expected, I believe within five years,”

Foxconn Plant in Peanut Field Shows Labor Eroding China’s Edge

Standing on a street corner near Foxconn Technology Group’s (2038) plant in central China that makes iPhone 5 handsets, employee Wang Ke says he’ll quit if his wage doesn’t double.

“I don’t have high expectations, I know I’m a migrant worker,” said Wang, 22, who earned 1,600 yuan ($258) in December, after deductions for lodging. “But I want to make 3,500 yuan a month, net. That’s a fair price.”

Wang’s attitude springs from a labor-market squeeze across the country after China’s pool of young workers shrank by almost 33 million in five years at the same time as industry added 30 million jobs. The resulting wage pressure means Foxconn, Apple Inc.’s (AAPL) biggest supplier, pays the same basic salary at the Zhengzhou plant it built in 2010 among the corn and peanut fields of Henan province, as it does in Shenzhen, the southern city that spawned the nation’s industrial boom.

“China’s advantage in low-cost manufacturing will end much sooner than expected, I believe within five years,” said Shen Jianguang, Hong Kong-based chief economist at Mizuho Securities Asia Ltd. “Wages are rising faster inland than on the coast. More companies will consider moving to countries such as Vietnam, Indonesia and the Philippines.” Read more of this post

Malaysian PM Najib Uses Public Humiliation With Graft Gallery: Southeast Asia

Najib Uses Public Humiliation With Graft Gallery: Southeast Asia

Malaysia’s government is using public humiliation in its war on graft as Prime Minister Najib Razak seeks to show voters that he’s getting tough on corruption ahead of an election that may be held within weeks.

An online gallery shows the names and photographs of more than 1,000 convicted offenders, including former Selangor state Chief Minister Mohamad Khir Toyo, who was sentenced to a year in jail in 2011.

Najib is trying to bolster his graft-fighting credentials to counter criticism from the opposition that companies from power producers to toll-road operators have unfairly benefited from their ties to a government that has ruled Malaysia since independence from Britain in 1957.

“The opposition will use corruption and financial irregularities in government spending to try and help win the election,” Ibrahim Suffian, a political analyst at Merdeka Center for Opinion Research, said by phone on March 15. “They will present a picture of pervasive corruption in government, including trying to link Najib himself.” Read more of this post

Academic castes that dog us for life

Academic castes that dog us for life

Our school years hold many memories. Some of us remember playing football every day after school; others cringe at the memory of their younger, awkward selves. It was a mixed package for me.

FROM OLIVER MICHAEL –

26 MARCH

Our school years hold many memories. Some of us remember playing football every day after school; others cringe at the memory of their younger, awkward selves. It was a mixed package for me.

School was a stage for the drama of academic caste life. Hailing from a school with over a century of tradition and history, there were Express pupils who mocked Normal (Academic) pupils who, in turn, would sometimes look down on Normal (Technical) pupils.

Even within the Express stream today, there is a constant race to be the best. Secondary schools have a system where being first is more important than doing well.

Some would argue that such is school life. Unfortunately, these formative years have a lasting influence. Some pupils never outgrow their shell, and carry the burden of being called “stupid” into adulthood, lacking self-esteem. Read more of this post

Reforming MediShield to be truly national; “Cancer treatment can be very, very expensive. This is something our health system will have to deal with. It is not surprising if some patients have to sell their house.”

Reforming MediShield to be truly national

Every now and then, Singaporeans come across a media report of a medical bill in the hundreds of thousands of dollars, and everyone seems to know someone struggling financially after a prolonged illness.

Jeremy Lim has held senior executive positions in both the public and private healthcare sectors. He is writing a book on the Singapore health system.

4 HOURS 51 MIN AGO

Every now and then, Singaporeans come across a media report of a medical bill in the hundreds of thousands of dollars, and everyone seems to know someone struggling financially after a prolonged illness.

In fact, the late Dr Balaji Sadasivan, previously a junior minister in the Health Ministry, while undergoing treatment for cancer commented: “Cancer treatment can be very, very expensive. This is something our health system will have to deal with. It is not surprising if some patients have to sell their house (sic).”

In dealing with the financials of catastrophic illness, Singaporeans are likely most concerned about two issues: The uncertainty of illness severity with an attendant massive hospital bill, and their share of the bill. Read more of this post

How Stiglitz weakens change in S’pore; From an outsider’s standpoint, the “model” Singapore pitch is perhaps meant as praise. People who care about Singapore should reject this cheap thrill.

How Stiglitz weakens change in S’pore

Mr Joseph Stiglitz’s commentary, “Singapore’s lessons for an unequal America” (March 20), does disservice to both Singaporeans and Americans.

FROM TEO YOU YENN –

4 HOURS 34 MIN AGO

Mr Joseph Stiglitz’s commentary, “Singapore’s lessons for an unequal America” (March 20), does disservice to both Singaporeans and Americans. Graduate student Kirsten Han points out in news publication Quartz that Singapore’s Gini coefficient is the second-highest among developed countries; that exploitable migrant labour has allowed employers to suppress wages; that workers’ rights to collective action are curtailed. Mr Stiglitz mistakes these realities and overlooks the cost of inequality on social well-being here. More importantly, because he is a Nobel economist, a position of legitimacy, his claim that Singapore is a model for dealing with inequality diminishes Singaporeans’ calls on the state to reform the welfare regime, address inequalities and ensure social inclusion. In praising, for example, the Central Provident Fund (CPF) system for compelling individuals to save, he affirms the Singapore state’s claim that individuals should ultimately be responsible for themselves. As various civil society members have pointed out in recent years, this individualised view of solutions leaves many needs unresolved and generates inequalities across groups. The healthcare system, heavily dependent on individuals’ “responsibility” in ensuring lifelong employment and hence on their CPF savings, disadvantages those who are unable to have continuous, full employment. As the CPF is tied to an individual’s income, wage differentials translate into unequal access. The Association of Women for Action and Research has been particularly concerned that women doing unpaid domestic and care labour have greater difficulty accessing this basic need. Like Mr Stiglitz, various civil society groups, scholars and citizens are interested in drawing comparative lessons from cases. We have come to different conclusions about “the Singaporean model”. We have pointed out differences from the Nordic countries, in principles and outcomes. For example, the Singapore model is premised on women being responsible for fertility decisions and child support; men have limited rights to be carers. In education, while Singaporean children do test well, this has come about at significant cost for certain classes of parents; that enrichment and tuition centres are thriving signals the large private investments going into education. In considering reform, Americans would be better served by looking at social policies in Scandinavia that generate greater equality across class or gender, as various scholars do in books such as Gender Equality: Transforming Family Divisions of Labor.

From an outsider’s standpoint, the “model” Singapore pitch is perhaps meant as praise. Given that Singaporeans often read about chewing gum and caning as if these define our nation, reading a positive piece can evoke some feel-good sentiments. Yet, the failings of the piece are harmful. People who care about Singapore should reject this cheap thrill. Americans who care about reform in their case should not be thrown off by the use of a case that is closer to theirs than to genuinely desirable alternatives. Given ongoing debates regarding the future we want, and given that tensions in world views exist between state and society and within society, the rush to declare Singapore as a coherent, stable model for others undermines the very project to reform.

ABOUT THE WRITER:

Teo You Yenn is a board member at the Association of Women for Action and Research, assistant professor in sociology at the Nanyang Technological University and author of the book, Neoliberal morality in Singapore: How Family Policies Make State and Society.

The Long March – Transitioning from a Start-up to a Growth Stage Company with Big Ambition; The Growth Stage Recipe – Ingredients Required to Build a Big Winner

The Long March – Transitioning from a Start-up to a Growth Stage Company with Big Ambition

Glenn Solomon (@glennsolomon) is a Partner with GGV Capital. Some of his recent investments include Pandora, Successfactors, Isilon, Square, Zendesk, Quinstreet and Nimble Storage. This post is part of a series for growth stage entrepreneurs who are thinking big; the full series can be found at www.goinglongblog.com.

Congratulations Ms. Entrepreneur. After years of toiling and challenging insurmountable odds, you’ve finally moved through the gates of start-up hell. You’ve established product/ market fit, you’re 10x better that your competition and you’ve begun to scale customers and revenues. You’ve also assembled a talented and passionate team who is bought into your culture. Take a breath. Take a bow. Now, come to the frightening realization… if you want to build a big company, you’ve got much more work ahead. The moves you make at the growth stage are increasingly important. Different challenges emerge and the bets become bigger, the stakes higher.

GGV.550.fourthpostGGV.550.firstpost

GGV.550.secondpost Read more of this post

A College Dropout Sophia Amoruso Turned Her eBay Page Into The Fastest-Growing Retailer with US$100M Sales

A College Dropout Turned Her eBay Page Into The Fastest-Growing Retailer

Ashley Lutz | Mar. 25, 2013, 10:28 AM | 4,167 | 3

sa

Sophia Amoruso started selling vintage clothing on her eBay page in 2006.

Seven years later, the 28-year-old runs Nasty Gal, an e-commerce site with $100 million in annual sales.

“‘People say: ‘Nasty Gal? What’s that?'” Amoruso said in an interview with Nicole Perlroth The New York Times. “I tell them, ‘It’s the fastest-growing retailer in the country.'”

Amoruso had considered going to photography school, but didn’t want to go into debt. So instead, she dropped out of community college and started buying vintage clothing at stores like the Salvation Army, selling them at a big profit.

Eventually, she moved Nasty Gal over to its own domain.

Her site caught on quickly because of her constant social media presence, according Perlroth. Amoruso used MySpace, and later Facebook, to engage with customers and market new merchandise.  Read more of this post

CalPERS is weighing taking its massive $255 billion assets under management and moving it to an all-passive portfolio

A Gigantic Pension Fund Is Reportedly Considering A Change That Should Make Investment Managers Freak Out

Julia La Roche | Mar. 25, 2013, 2:13 PM | 7,432 | 13

Investment News reports that California CalPERS, the second biggest U.S. public pension fund, is weighing taking its massive $255 billion assets under management and moving it to an all-passive portfolio. Why would this matter? Well, it would matter a lot for active managers who receive management fees from CalPERS, Josh Brown, who runs the popular financial blog the Reformed Broker, points out on Twitter. The California Public Employees’ Retirement System already has more than half of its investible assets in passive strategies. CalPERS is expected to make the decision in about five months, the report said.

Passive investing: If it’s good enough for CalPERS …

Giant pension plan’s possible full-on switch to index funds speaks volumes

Mar 24, 2013 @ 12:01 am (Updated 2:24 pm) EST

Passive investing has reached a watershed moment. The second-largest pension fund in the United States is considering a move to an all-passive portfolio while at the same time, the largest brokerage firms are falling over themselves to push passively managed exchange-traded funds.

Read more of this post

Focus: Use Different Ways of Seeing the World for Success and Influence

Focus: Use Different Ways of Seeing the World for Success and Influence [Hardcover]

Heidi Grant Halvorson Ph.D. (Author), E. Tory Higgins Ph.D. (Author)

Release date: April 18, 2013

419SARVcDJL._SY320_

We all want to experience pleasure and avoid pain. But there are really two kinds of pleasure and pain that motivate everything we do. If you are promotion-focused, you want to advance and avoid missed opportunities. If you are prevention-focused, you want to minimize losses and keep things working. And as Tory Higgins has found in his groundbreaking research, if you understand how people focus, you have the power to motivate yourself and everyone around you.

Showing how promotion/prevention focus applies across a wide range of situations from selling products to managing employees to raising children to getting a second date, Halvorson and Higgins show us how to identify focus, how to change focus, and how to use focus exactly the right way to get results. Short, punchy, and prescriptive, Focus will help you see not just what’s going on around you— but what’s underneath. Read more of this post

Decisive: How to Make Better Choices in Life and Work

March 25, 2013 3:44 pm

Decide and make your move

By Philip Delves Broughton

Good management is about nothing if not good decision making. Unfortunately, decisiveness has been seen as a character trait like courage: there are those who can pull the trigger – the great executives – and those who can’t – the armies of wafflers who are terrified of being forced to accept the consequences of their actions.

A new wave of social scientists, however, is upending this view by digging into the psychological and social factors that influence our decisions. By developing better processes, they hope to make decision making less like voodoo and more like carpentry.

Chip Heath, a professor at Stanford’s business school, and his brother Dan Heath, a fellow at Duke University’s Center for the Advancement of Social Entrepreneurship, have already written two excellent books of pop social science: Made to Stick and Switch . Their latest, Decisions: How to Make Better Choices in Life and Work digs into the latest findings on decision making.

“Being decisive is itself a choice,” they write. “Decisiveness is a way of behaving, not an inherited trait. It allows us to make brave and confident choices, not because we know we’ll be right but because it’s better to try and fail than to delay and regret.” Read more of this post

When going gets tough, spicy foods become popular; the pain-relieving effects of capsaicin, the substance that makes peppers hot.

2013-03-25 17:40

When going gets tough, spicy foods become popular

By Rachel Lee

A popular belief, backed by a sense of economics, would have it that in an economic slump, women wear shorter skirts and opt for lipsticks of vivid colors. Here is one more myth to be added: when the going gets tough, people prefer spicier food. Take this new maxim with a hint of skepticism because the “fact” is provided by related industries but don’t dismiss it outright, considering the pain-relieving effects of capsaicin, the substance that makes peppers hot. According to Sun At Food, a leading food and dining company, sales of its Sichuan House restaurant’s popular Spicy Chili Beef Hotpot have gone up three–fold from November of last year to the end of January. Another dish, Sichuan Chili Chicken, saw a six-fold increase in sales.

Read more of this post

What Would Steve Do? 10 Lessons from the World’s Most Captivating Presenters

Why America Is Called America

March 25, 2013

Why America Is Called America

By JOHN NOBLE WILFORD

26SCIB-popup-v2

A plate of the 1507 world map made by the clerics Martin Waldseemüller and Mathias Ringmann

A DECADE AGO, the Library of Congress paid $10 million to acquire the only known original copy of a 1507 world map that has been called “the birth certificate of America.” The large map, a masterpiece of woodblock printing, has been a star attraction at the library ever since and the object of revived scholarly fascination about the earliest cartography of the New World. The research has also rescued from obscurity a little-known Renaissance man, the 16th-century globe maker Johannes Schöner, who was responsible for saving the map for posterity.

We call ourselves Americans today because of the map’s makers, Martin Waldseemüller and Mathias Ringmann, young clerics in the cathedral village of St.-Dié, France. By incorporating early New World discoveries, their map reached beyond the canonical descriptions of Old World geography handed down from Ptolemy in the second century. On a lower stretch of the southern continent, the mapmakers inscribed the name “America” in the mistaken belief that Amerigo Vespucci, not Columbus, deserved credit for first sighting a part of that continent, South America. Read more of this post

Pursuing a passion into a career change may bring the success you dream of. But disaster is also a possibility; “Suffering comes from being attached to the outcomes. If you stop worrying about the outcomes, you will achieve a better outcome.”

March 25, 2013

Following Your Bliss, Right Off the Cliff

By KAI RYSSDAL and MEGAN LARSON

JOBS-articleLarge

Michael Dearing with the last pair of shoes from his former shoe business, which he called a “splat-against-the-wall failure.” 

SO you want to be a writer. Or an artist. Or to open a cupcake shop. What you’ll hear, often, is that you should pursue your dream. Follow your passion. Quit your job and live the life you want.

That advice should come with a bright yellow warning sticker: your dream may end in disaster. Read more of this post

Ravi Jaipuria: India’s Pepsi Bottler-Billionaire

Ravi Jaipuria: India’s Bottler-Billionaire

by Naazneen Karmali | Mar 26, 2013

images (3)

PepsiCo bottler Ravi Jaipuria’s insatiable thirst for growth earned him a fortune

I like to be near water,” says Ravi Jaipuria, seated in his office on the top floor of a building that bears his initials and is situated in Gurgaon, a bustling township adjacent to Delhi. The ocean is nowhere close so the chairman of the privately held RJ Corp—revenues in excess of $1 billion—has to make do with an artificial waterfall in the terrace adjoining his office.

Water of the flavoured kind has made Jaipuria, 58, a fortune: PepsiCo’s largest franchise bottler in India. He claims to be among the multinational giant’s top three globally—is among India’s new crop of billionaires, with a fortune estimated at $1.4 billion.

Jaipuria gets a chunk of that wealth from bottling unit Varun Beverages, which accounts for over half of RJ Corp’s revenues. Named after his son, who works with him, Varun Beverages has 10 bottling plants in India plus an international footprint that includes Sri Lanka, Nepal, Morocco, Mozambique and Zambia. It claims to have close to a third of Pepsi’s business in India. A PepsiCo India spokesman says that half of its beverage volume is from seven franchise bottlers, of which Varun Beverages is the biggest. Read more of this post

Following your gift: Dietary coffee producer shakes off slum upbringing to rake it in. NatureGift claims a 50% market share in dietary coffee in Thailand

Following your gift

Dietary coffee producer shakes off slum upbringing to rake it in.

Published: 26 Mar 2013 at 00.00

485350

Life was a slog for Kritsada Jangchaimonta, growing up in a slum for 23 years. But the 3-by-4 metre room he lived in together with seven others in Bangkok failed to discourage him from dreaming of becoming a millionaire one day.

Mr Kritsada claims white bean supplements are the key to losing weight because they offer an energy boost.

With an engineering degree from Chulalongkorn University, he started work at the Metropolitan Electricity Authority before joining a private company. Then in 1976, Mr Kritsada set up a company selling electrical appliances, before experimenting with other products ranging from shrimp feed to hydroponic vegetables.

In 2002, his company NatureGift launched food supplement capsules. But it wasn’t an immediate success so he thought of trying other products such as coffee, soap and toothpaste.

“At that time, I had debts of 20 million baht. While it took 30,000 baht to produce toothpaste, coffee required around 50,000 baht,” recalled the 66-year-old. Read more of this post