Help Them Grow or Watch Them Go: Career Conversations Employees Want

Help Them Grow or Watch Them Go: Career Conversations Employees Want (BK Business) [Paperback]

Beverly Kaye (Author), Julie Winkle Giulioni (Author)

9781609946326_p0_v1_s260x420

Release date: September 17, 2012 | Series: BK Business

Study after study confirms that career development is the single most powerful tool managers have for driving retention, engagement, productivity, and results. Nevertheless, it’s frequently back-burnered. When asked why, managers say the number one reason is that they just don’t have time—for the meetings, the forms, the administrative hoops.

But there’s a better way. And it’s surprisingly simple: frequent short conversations with employees about their career goals and options integrated seamlessly into the normal course of business. Beverly Kaye, coauthor of the bestselling Love ’Em or Lose ’Em, and Julie Winkle Giulioni identify three broad types of conversations that will increase employees’ awareness of their strengths, weaknesses, and interests; point out where their organization and their industry are headed; and help them pull all of that together to design their own up-to-the-minute, personalized career plans.

Help Them Grow or Watch Them Go is filled with practical tips, guidelines, and templates, as well as nearly a hundred suggested conversation questions. Read more of this post

Mental Models: The Bamboo Innovator Approach to Investing in Asia, with Singapore-Based Value Investor KB Kee (BeyondProxy.com, GreatInvestors.TV, Youtube, Frequency.com)

http://www.beyondproxy.com/mental-models/

http://www.beyondproxy.com/detecting-fraud/

http://www.beyondproxy.com/accounting-pitfalls-at-asian-companies/

http://greatinvestors.tv/video/insights-into-accounting-pitfalls-at-asian-companies-with-si.html

http://greatinvestors.tv/video/beware-of-other-receivables-accounting-at-asian-companies-wi.html

http://www.frequency.com/video/insights-into-accounting-pitfalls-at/85354333/-/5-1707

MentalModelDetectFraudPitfalls

Billionaire John Paulson lost more than $300 million of his personal wealth on his gold bet, as the precious metal fell to its lowest price in almost two years

Paulson Loses More Than $300 Million as Gold Declines

Billionaire John Paulson lost more than $300 million of his personal wealth on his gold bet, as the precious metal fell to its lowest price in almost two years.

Paulson has roughly $9.5 billion invested across his hedge funds, of which about 85 percent is invested in gold share classes. Gold dropped 4.1 percent today, shaving about $328 million from his net worth on this bet alone.

Gold tumbled and entered a bear market after falling more than 20 percent since August 2011, bringing more bad news for 57-year-old Paulson, who has struggled with poor returns for the past two years. He told investors last year that his $700 million Gold Fund would beat his other strategies over five years because the metal was the best hedge against inflation and currency debasement as countries pump money into their economies. The fund slumped 28 percent this year through March, a person familiar with the matter said this month. Read more of this post

When Shareholder Democracy Is Sham Democracy; There are 41 publicly traded companies with directors who lost their elections last year. Despite these votes of no confidence, they stayed in their posts

April 12, 2013

When Shareholder Democracy Is Sham Democracy

By JAMES B. STEWART

Two weeks ago, I argued that it was hard to imagine a more compelling case for ousting directors than the one posed by Hewlett-Packard.

It turns out there are many stronger cases — 41.

That’s the number of publicly traded companies where directors actually lost their elections last year, meaning that more than 50 percent of the shareholders withheld their votes of approval. Yet despite these resounding votes of no confidence, they remained in their posts. Read more of this post

Beijing reports first human case of H7N9 bird flu

Beijing reports first human case of H7N9 bird flu

POSTED: 13 Apr 2013 10:12 AM
A seven-year-old girl was confirmed as Beijing’s first human case of H7N9 bird flu on Saturday, local authorities said, as China’s outbreak of the disease spread to the capital.

BEIJING: A seven-year-old girl was confirmed as Beijing’s first human case of H7N9 bird flu on Saturday, local authorities said, as China’s outbreak of the disease spread to the capital.

The girl, whose parents are poultry traders, was in a stable condition in hospital, the Beijing health bureau said. Her mother and father had been quarantined for observation but had shown no symptoms so far, it added.

She developed a fever, sore throat and headache on Thursday, it said, and her parents took her to hospital. Samples from her tested positive H7N9 the following day, and the national disease control centre confirmed the results on Saturday.

Chinese officials announced nearly two weeks ago that they had found the H7N9 strain in humans for the first time, and the girl brought the number of confirmed infections in the outbreak to 44, 11 of whom have died.

All previous cases had been confined to eastern China. Experts fear the prospect of such viruses mutating into a form easily transmissible between humans has the potential to trigger a pandemic. Read more of this post

How Hello Kitty Conquered the World; The cutesy Hello Kitty character came to be popular with everyone from small children to motorcycle gangs

April 12, 2013, 2:11 p.m. ET

How Hello Kitty Conquered the World

The cutesy Hello Kitty character came to be popular with everyone from small children to motorcycle gangs.

By MEGHAN KEANE

Hello Kitty, Japan’s most recognizable cartoon cat, prefers to be seen and not heard—a consequence of being drawn without a mouth. Created by Japanese merchandiser Sanrio in 1974, Hello Kitty is made up of nothing more than a few simple strokes: a black circle with ears, two button eyes, whiskers and a lopsided bow. Yet those features have been imposed on millions of products in the decades since, and millions of fans around the world use the image as a canvas for their personal expression. Hello Kitty has served as a mascot for adult women, gay men and punk enthusiasts. While most cartoon characters have a distinctive personality—Mickey Mouse, Ronald McDonald, Garfield—Hello Kitty is a cipher.

Pink Globalization

By Christine R. Yano
Duke, 336 pages, $24.95

978-0-8223-5363-8_pr Read more of this post

Wise advice from 1899: Sack the slothful and incompetent

Wise advice from 1899: Sack the slothful and incompetent

Created: 2013-4-13

Author:Wang Yong

AMERICA is known for its can-do spirit, but there’s never been a shortage of can’t-doers.

“A Message to Garcia,” written by artist and publisher Elbert Hubbard (1856 – 1915) in 1899, remains a definitive work, even today, on why a boss must honor the can-doers and curb, or can, the can’t-doers in the workplace.

A central message of the book: If the boss does not dismiss the less fit, that is, the can’t-doers, the business will never survive.

In fact, Hubbard wrote the book of about 30 pages in an hour in 1899 after an indifferent employee irritated him.

He said the book idea “leapt hot from my heart, written after a trying day when I had been endeavoring to train some rather delinquent villagers.” Read more of this post

Who’s Sorry Now? Everyone, Apparently; Apple Chief Executive Tim Cook shocked the world a couple of weeks ago when he apologized to the entire country of China. Joe Queenan thinks apologies by other corporate and cultural stars are badly needed

April 12, 2013, 8:29 p.m. ET

Who’s Sorry Now? Everyone, Apparently

By JOE QUEENAN

Apple Chief Executive Tim Cook shocked the world a couple of weeks ago when he apologized to the entire country of China after complaints about Apple’s warranty policies, off-putting customer service and general haughtiness.

“We are aware that a lack of communications…led to the perception that Apple is arrogant and doesn’t care or attach enough importance to consumer feedback,” Mr. Cook wrote in an apology posted in Chinese on Apple’s Chinese website. Back on these shores, Apple has not yet issued any apology to U.S. consumers for being arrogant. Not in English, at least.

Ideally, Apple’s unexpected servility might inspire other putatively arrogant companies to issue apologies to entire societies. Particularly gratifying would be if the U.S. Postal Service posted a similarly worded mea culpa on its website. Read more of this post

Beyond Good and Evil; How vanity became “confidence,” and wrath a reason for therapy, rather than moral condemnation.

April 12, 2013, 3:07 p.m. ET

Beyond Good and Evil

How vanity became “confidence,” and wrath a reason for therapy, rather than moral condemnation.

By ELIZABETH LOWRY

Sin isn’t what it used to be. St. Paul counted 17 things that would automatically scupper a sinner’s chances of getting into the kingdom of heaven; by the fourth century, that catalog had shrunk to eight: wrath, greed, sloth, pride, lust and gluttony, as well as sorrow and boasting. Pope Gregory I dropped the last two offenses and added envy, giving us the shortlist of seven that we have been feeling guilty about ever since. Or at least professing to.

The Seven Deadly Sins

Edited by Rosalind Porter
Union Books, 203 pages, $24.95 Read more of this post

Can Cancer Cells Solve the Puzzle of Junk DNA?

April 12, 2013, 7:47 p.m. ET

Can Cancer Cells Solve the Puzzle of Junk DNA?

By MATT RIDLEY

RV-AK222_RIDLEY_G_20130412183752

The usually placid world of molecular biology has been riven with two fierce disputes recently. Although apparently separate, the two conflagrations are converging.

The first row concerns the phrase “junk DNA.” Coined in 1972 by the geneticist Susumu Ohno, it is an attempt to explain why vast stretches of animal genomes, far more in some species than in others, seem to serve no purpose. Genes of all kinds and their control sequences make up maybe 9% of the human genome at the very most. The rest may be nonfunctional “junk,” mainly there because it is good at getting itself duplicated. Yet the phrase has always caused a surprising amount of offense. Reports of the discrediting of junk-DNA theory have been frequent.

Why does it matter? Partly because scientists want to know if they are right to focus on part of the genome, ignoring the rest, but mainly because the issue tests an evolutionary theory about how DNA sequences can proliferate even if they do not benefit the body. Read more of this post

For a Sick Friend: First, Do No Harm; Conversing with the ill can be awkward, but keeping a few simple commandments makes a huge difference. Don’t pressure them to practice ‘positive thinking.’

April 12, 2013, 7:12 p.m. ET

For a Sick Friend: First, Do No Harm

Conversing with the ill can be awkward, but keeping a few simple commandments makes a huge difference

By LETTY COTTIN POGREBIN

‘A closed mouth gathers no feet.” It’s a charming axiom, but silence isn’t always an option when we’re dealing with a friend who’s sick or in despair. The natural human reaction is to feel awkward and upset in the face of illness, but unless we control those feelings and come up with an appropriate response, there’s a good chance that we’ll blurt out some cringe-worthy cliché, craven remark or blunt question that, in retrospect, we’ll regret.

Take this real-life exchange. If ever the tone deaf needed a poster child, Fred is their man.

“How’d it go?” he asked his friend, Pete, who’d just had cancer surgery.

“Great!” said Pete. “They got it all.”

“Really?” said Fred. “How do they know?”

Later, when Pete told him how demoralizing his remark had been, Fred’s excuse was, “I was nervous. I just said what popped into my head.”

We’re all nervous around illness and mortality, but whatever pops into our heads should not necessarily plop out of our mouths. Yet, in my own experience as a breast-cancer patient, and for many of the people I have interviewed, friends do make hurtful remarks. Marion Fontana, who was diagnosed with breast cancer eight years after her husband, a New York City firefighter, died in the collapse of the World Trade Center, was told that she must have really bad karma to attract so much bad luck. In another case, upon hearing a man’s leukemia diagnosis, his friend shrieked, “Wow! A girl in my office just died of that!”

You can’t make this stuff up.

If we’re not unwittingly insulting our sick friends, we’re spouting clichés like “Everything happens for a reason.” Though our intent is to comfort the patient, we also say such things to comfort ourselves and tamp down our own feelings of vulnerability. From now on, rather than sound like a Hallmark card, you might want to heed the following 10 Commandments for Conversing With a Sick Friend. Read more of this post

Will Google’s Ray Kurzweil Live Forever? In 15 years, the famous inventor expects medical technology will add a year of life expectancy every year.

Updated April 12, 2013, 6:44 p.m. ET

Will Google’s Ray Kurzweil Live Forever?

In 15 years, the famous inventor expects medical technology will add a year of life expectancy every year.

By HOLMAN W. JENKINS, JR.

Ray Kurzweil must encounter his share of interviewers whose first question is: What do you hope your obituary will say?

This is a trick question. Mr. Kurzweil famously hopes an obituary won’t be necessary. And in the event of his unexpected demise, he is widely reported to have signed a deal to have himself frozen so his intelligence can be revived when technology is equipped for the job.

Mr. Kurzweil is the closest thing to a Thomas Edison of our time, an inventor known for inventing. He first came to public attention in 1965, at age 17, appearing on Steve Allen’s TV show “I’ve Got a Secret” to demonstrate a homemade computer he built to compose original music in the style of the great masters.

In the five decades since, he has invented technologies that permeate our world. To give one example, the Web would hardly be the store of human intelligence it has become without the flatbed scanner and optical character recognition, allowing printed materials from the pre-digital age to be scanned and made searchable. Read more of this post

Tan Sri Andrew Sheng: What is New Economic Thinking? Schumpeter’s great insight about capitalism is that there is creative destruction. He only restated the old Asian philosophy that change is both creative and destructive. But out of change comes new life.

Saturday April 13, 2013

What is New Economic Thinking?

THINK ASIAN, By ANDREW SHENG

LAST weekend, over 400 top economists, thought leaders, three Nobel Laureates and participants gathered in Hong Kong for the fourth Annual Institute for New Economic Thinking (INET) conference, co-hosted by the Fung Global Institute, entitled “Changing of the Guard?”

So what was new?

In the opening session, Dr Victor Fung, founding chairman of Fung Global Institute, quoted Henry Kissinger as saying, “Americans think that for every problem, there is an ideal solution. The Chinese, and Indians and other Asians think there may be multiple solutions that open up multiple options.”

That quote summed up the difference between mainstream economic theory being taught in most universities and the need to build up a new curriculum that teaches the student to realise that there is no flawless equilibrium in an imperfect world and that there is no “first-best solution”.

Instead, what is important is to teach the aspiring economist to ask the right questions, and to question what it is that we are missing in our analysis. It is important to remember that theory is not reality, it is only a conceptualisation of reality. Read more of this post

Why Leave Job in Beijing? To Breathe

April 12, 2013, 4:55 p.m. ET

Why Leave Job in Beijing? To Breathe

By LAURIE BURKITT and BRIAN SPEGELE

BF-AE763_CPOLLU_G_20130412171803

As China struggles with air pollution s, some believe the air inside may not be cleaner. Louie Cheng president of PureLiving China, an indoor environmental consulting firm, talks about toxic pollutants, your home and what you can do to get rid of them.

BEIJING—After Beijing’s air-pollution readings soared in January, local executives for German auto maker BMW AG BMW.XE -2.36% received bad news: several candidates for midlevel expatriate jobs withdrew their applications.

“They called and said they no longer had the support of their families,” said Kirk Cordill, managing director and CEO of BMW Group Financial Services China. Read more of this post

The Bond Market Can’t Be This Easy to Beat—Can It?

April 12, 2013, 5:29 p.m. ET

The Bond Market Can’t Be This Easy to Beat—Can It?

By JASON ZWEIG

BF-AE757_INVEST_G_20130412221423

Bond managers are suddenly looking superhuman.

Investors have handed nearly three-quarters of their new fixed-income investments to bond pickers over the past year, as $230 billion has poured into actively managed bond funds, while just $63 billion has gone into bond index funds.

Why are the same investors who have turned their backs on stock pickers showering money on bond pickers?

Past performance, of course. Last year, 79% of intermediate-term bond funds—which hold a mix of government and corporate bonds maturing in five to 10 years—beat the comparable bond index, according to S&P Dow Jones Indices. Read more of this post

Microsoft Can’t Keep Up in a Mobile World

Updated April 11, 2013, 3:05 p.m. ET

Microsoft Can’t Keep Up in a Mobile World

By ROLFE WINKLER

The PC ecosystem is under threat. To rescue it, Microsoft MSFT -0.50% and IntelINTC -0.69% may have to dig deeper—into their own pockets.

Global personal-computer shipments fell 14% in the first quarter, according to research firm IDC, their steepest decline ever. Microsoft’s stock duly fell 5% on Thursday, with Hewlett-Packard‘s HPQ +0.10% stock down 7% and Intel’s, 3%.

What is surprising is that investors are surprised. Not only did the two halves of the “Wintel” duopoly miss the boat with mobile, their latest attempt to regain momentum has looked ineffectual for months. New machines running Microsoft’s latest touch-enabled operating system, Windows 8, typically powered with Intel chips, are so rare as to elicit stares when seen in the wild. Read more of this post

Energy: More buck, less bang; As oil companies venture further into remote areas in search of the world’s remaining reserves, their costs have soared

April 11, 2013 7:06 pm

Energy: More buck, less bang

As oil companies venture further into remote areas in search of the world’s remaining reserves, their costs have soared

By Sylvia Pfeifer and Guy Chazan

The Bob Douglas will be a giant, a drillship big enough to carry two helicopters, cope with 10,000 feet of water and still manage to pierce the earth’s crust another 30,000 feet.

It is under construction at Ulsan, Hyundai Heavy Industries’ shipyard on the southeastern tip of the Korean peninsula. When it goes to work later this year, its owner, Noble Corporation, will charge $618,000 a day for its use – more than twice what it costs to hire an Airbus A320 for a month.

The new vessel is far more advanced and better-equipped than its predecessors, the result of heavy investment – it can cost upwards of $600m to bring a state-of-the-art drillship to market. But just 10 years ago the best-equipped offshore rigs would have cost one-third what Noble is charging.

Oil exploration has always been an expensive business. Yet even for an industry used to multibillion dollar capital budgets, costs have been rising at a troubling pace, as the Bob Douglas illustrates. Analysis by Bernstein of Europe’s integrated oil companies found their costs soared by 10 per cent last year. Read more of this post

The Complete Chartpack Of The Top Global Themes For The Next Five Years

The Complete Chartpack Of The Top Global Themes For The Next Five Years

Tyler Durden on 04/12/2013 17:45 -0400

The investment environment is changing at a rate that’s representative of global economic imbalances, fund flows, and geopolitical risks. We believe this decade will continue to witness greatly increased volatility and instability in the economies of the world and the global financial system. Very few past models are still valid (and most have been proved ’empirically’ in real-time to be entirely fallacious). Such a situation has contributed to the extreme uncertainty that currently prevails. Our guiding principle is to help investors understand and navigate through all the complexities of an unstable, inflation-prone world. The following ten themes will be key drivers of financial market performance over the next 1 to 5 years.

  • Theme 1 WINTER OF OUR DISCONTENT – The Long-Wave decline
  • Theme 2 BUBBLE IN SAFETY – The US bond market top
  • Theme 3 LORDS OF FINANCE – The coming loss of central bank indpendence
  • Theme 4 SUPER SAD TRUE LOVE STORY – Europe (Break-up)
  • Theme 5 MRS. WATANABE – Japan
  • Theme 6 RICHISTAN – The rise of the Asian consumer
  • Theme 7 DEVIL TAKE THE HINDMOST – Currency games
  • Theme 8 SUPERMONEY – Precious metals
  • Theme 9 THE RICHEST MAN IN BABYLON – Iraq
  • Theme 10 WHEN MONEY DIES – The great social disorder

World at a glance

In the investment world, anyone who foresees and understands the trends, who is openminded, and who keeps emotions at bay,

The structural backdrop for a global macro strategy

  • Developed economy governments are insolvent
  • The process of deleveraging and global rebalancing is underway
  • Outsized dislocations from “non-economic” policy actions
  • The loss of central bank independence with likely unintended consequences
  • Ongoing battle between deflation and reflationary forces
  • Shorter and more volatile economic cycles that are globally synchronized
  • Drop of confidence in policymakers, institutions and the “system” at large
  • Increased risk of geopolitical tensions and social conflict
  • Market prices only reflect fair value by accident and in passing

“The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – Lord Keynes

Can Internal Governance Mechanisms Prevent Asset Appropriation? Examination of Type I Tunneling in China

Can Internal Governance Mechanisms Prevent Asset Appropriation? Examination of Type I Tunneling in China

Yuan George Shan University of Adelaide – Business School

May 2013
Corporate Governance: An International Review, Vol. 21, Issue 3, pp. 225-241, 2013

Abstract: 
Manuscript Type. Empirical. Research Question/Issue. Direct transfer (Type I tunneling) means that the controlling shareholders transfer resources from the firm for their own benefit. This study aims to investigate the impact of internal and external governance mechanisms from the perspective of principal‐principal (P‐P) conflicts on Type I tunneling. Research Findings/Insights. Using hand‐collected data comprising 117 Chinese listed companies with 540 firm‐year observations during 2001–2005, the results show that state ownership and the number of board of directors’ meetings are positively correlated with Type I tunneling, whereas the number of independent directors reveals a negative association. Other internal governance mechanisms including foreign ownership, the size of the board of directors, supervisory board size, number of professional supervisors, and the number of supervisory board meetings were found to have no impact. Theoretical/Academic Implications. Several implications can be drawn. First, this study has modeled tunneling using a well‐accepted theoretical perspective – agency theory of P‐P conflicts. But the results show that agency theory does not appropriately explain tunneling behavior in China and so institutional theory is suggested as an alternative theoretical perspective for future research. Second, corporate governance reforms relating to supervisory boards have not been sufficient to ensure that they properly fulfill their role of oversight. Rather, such supervisory boards are perhaps playing more of a “rubber stamp” role. Practitioner/Policy Implications. This study recommends prescribing the legal responsibilities and obligations for two‐tier boards in the Chinese context, allowing them to undertake their duties diligently.

Making great decisions: Stanford’s Chip Heath and McKinsey’s Olivier Sibony discuss new research, fresh frameworks, and practical tools for decision makers

Making great decisions

Stanford’s Chip Heath and McKinsey’s Olivier Sibony discuss new research, fresh frameworks, and practical tools for decision makers.

April 2013 • Dan Lovallo and Olivier Sibony

Every few years, Stanford University professor Chip Heath and his brother, Dan, a senior fellow at Duke University’s Center for the Advancement of Social Entrepreneurship (CASE), distill decades of academic research into a tool kit for practitioners. The bicoastal brothers offered advice on effective communications in Made to Stick, on change management in Switch, and now, in their new book, Decisive, on making good decisions. It’s a topic that McKinsey’s Olivier Sibony has been exploring for years in his work with senior leaders of global companies and in a number of influential publications.1

Chip and Olivier recently sat down to compare notes on what matters most for senior leaders who are trying to boost their decision-making effectiveness. Topics included Heath’s new book, research Sibony and University of Sydney professor Dan Lovallo have under way on the styles of different decision makers, and practical tips that they’ve found make a big difference. The discussion, moderated by McKinsey’s Allen Webb, represents a state-of-the-art tour for senior executives hoping to help their organizations, and themselves, become more effective by benefiting from the core insight of behavioral economics: systematic tendencies to deviate from rationality influence all of our decision making. Read more of this post

Bitcoin fans put brave face on price fall from $266 to $54, taking it back to its level before a surge in internet and media interest that began in late March

April 12, 2013 7:41 pm

Bitcoin fans put brave face on price fall

By Stephen Foley in New York

Adherents of the virtual currency Bitcoin are picking up the pieces after their holdings collapsed in price, and vowing to continue growing the Bitcoin economy despite the volatility and illiquidity bedevilling activity.

The price of a single Bitcoin peaked at $266 on Wednesday, double its price a week earlier, and then slumped to a low of $54 on Friday. That takes it back to its level before a surge in internet and media interest that began in late March.

The price collapse hit not just speculators but also merchants who sold goods or services for Bitcoin at the peak.

Tony Gallippi, founder of Bitpay, which processes transactions for merchants, said about half his customers keep their income in Bitcoins, rather than immediately cashing out, and so would have lost money on transactions. Bitpay’s 5,000 merchants include gold and silver exhanges, electronics businesses and even a car dealer. Read more of this post

Tokyo Disneyland, now 30, still casts spell; Park keeps loyal fans, adds new ones by keeping its magic fresh

Tokyo Disneyland, now 30, still casts spell

Park keeps loyal fans, adds new ones by keeping its magic fresh

BY KAZUAKI NAGATA

APR 13, 2013

p3-disney-a-20130413-200x200

Tokyo Disney Resort, comprising Tokyo Disneyland and Tokyo DisneySea, celebrates its 30th anniversary Monday with no signs that its magic spell has worn off, as figures show the wildly popular venue lured a record 27.5 million visitors in fiscal 2012, which ended in March.

While some theme parks built over the past 30 years, including Universal Studios Japan in Osaka and Huis Ten Bosch in Nagasaki Prefecture, have struggled to make a profit, Disney operator Oriental Land Co. has dominated the industry and aims to attract even more visitors this year.

Industry observers attribute the Disney success to instilling in visitors a sense that they are in dreamland — a place they will seek to return to again and again. Read more of this post

A renowned Chinese food maker’s proposal to pay shareholders a dividend in the form of its own products – seame powder – has stirred great public curiosity online

Proposed dividend payment in sesame powder ridiculed

Updated: 2013-04-11 14:45

( Xinhua)

BEIJING – A renowned Chinese food maker’s proposal to pay shareholders a dividend in the form of its own products has stirred great public curiosity online. Nanfang Black Sesame Group Co Ltd, known for its cereal-like sesame powder, decided to provide 12 cans of the stuff as a dividend for every 1,000 shares registered before Thursday. Read more of this post

China’s money supply passes RMB 100 trillion (US$16.7 trillion) for the first time, over one and a half times the number in the United States

China’s money supply passes US$16.7 trillion

Staff Reporter, 2013-04-12

China’s central bank has said that the country’s basic money supply reached 103.67 trillion yuan (US$16.7 trillion) as of the end of March, up 15.7% from a year earlier. It is the first time the supply has exceeded 100 trillion yuan (US$16 trillion), according to ifeng, the website of Hong Kong’s Phoenix TV. The nation’s money supply stood at 97.42 trillion yuan (US$15.7 trillion) at the end of 2012, one and a half times the number in the United States, said the website. The supply has grown to more than six times the nation’s 2002 volume, raising concerns over the possibility that the currency has been over-printed. The total money supply was 31.12 trillion yuan (US$5 trillion) as of the end of March, up 11.9% from a year earlier. The amount of cash actively traded in the market was 5.57 trillion yuan (US$899 billion), up 12.4% from a year earlier.

Skin care cream Pehchaolin is making a comeback in China after Peng Liyuan, China’s first lady, presented an assortment of products from the previously out-of-fashion brand as State gifts during her foreign tour with President Xi Jinping

Speeches and cream on foreign tour

Updated: 2013-04-13 01:40

By XU JUNQIAN in Shanghai ( China Daily)

180373d28c1012d28bd407 Read more of this post

Who says accountants are boring? How one student’s accounting-based video game took the online world by storm with over a quarter million downloads in just over two weeks

Who says accountants are boring? How one student’s accounting-based video game took the online world by storm

Caitlyn Coverly, Special to Financial Post | 13/04/12 | Last Updated:13/04/12 11:08 AM ET

2-17-13-arena-e1365723930411

Cary WalkinA screenshot of Arena Xlsm, the Microsoft Excel-based video game created by Schulich School of Business student Cary Walkin.

When Cary Walkin went back to school to complete an MBA, his main goal was to strengthen and diversify his business acumen. Working as a chartered accountant for the past five years, Mr. Walkin was in a stable, secure profession he enjoyed. What he ended up doing, however, was realizing a childhood dream by combining his two passions, accounting and video game design, by creating a computer game based on Microsoft Excel spreadsheets and promoting it through a specialized marketing course within the Schulich School of Business MBA program.

Now set to graduate in two weeks, Mr. Walkin’s game, Arena.Xlsm, has gone viral, generating international buzz in the gaming industry and turning his accounting career upside down.

I had a party when it reached 3,000 views and then it just exploded overnight

“I was completely shocked at the attention the game received,” said Mr. Walkin. “I had a party when it reached 3,000 views and then it just exploded overnight.”

In just over two weeks, Arena.Xlsm has received over a quarter of a million downloads and has garnered media attention from GizmodoBBC News, Cnet, and the Sydney Morning Herald, to name just a few. Read more of this post

10-yr-old Chinese boy Wang Ke drives motorcycle over 18m-wide platform

10-yr-old boy drives motorcycle over 18m-wide platform

2013-04-12 09:21:57 GMT2013-04-12 17:21:57(Beijing Time)  SINA English

At the age of ten, Wang Ke cherishes ambition that most adults dare not to even give it a thought. Wang comes from Huaibei, a city famous for its abundance of coal in E China’s Anhui Province. He began to practice driving MTX motorcycle when he was only four. He succeeded in driving his motorcycle over a platform, 6 meters in height and 18 in width, in a national tournament on April 11th, marking a high point in the initial phase of his career. Wang said his dream is to participate in the racing game hosted by the American Motorcyclist Association.

U158P5029T2D581127F24DT20130412172157U158P5029T2D581127F32DT20130412172157

Steal Like Picasso: How Outside Inspiration Can Fuel True Innovation

STEAL LIKE PICASSO: HOW OUTSIDE INSPIRATION CAN FUEL TRUE INNOVATION

PICASSO’S APOCRYPHAL LINE, “GOOD ARTISTS BORROW, GREAT ARTISTS STEAL,” CAN APPLY TO ANY INDUSTRY, NOT JUST ART–AND IT CAN CREATE REAL INNOVATION, NOT JUST DERIVATIVE KNOCK-OFFS, IF DONE CORRECTLY.

3008207-inline-inine-1-steal-art

BY: CAMILLE SWEENEY AND JOSH GOSFIELD

Austin Kleon, author of Steal Like an Artist, has quoted Steve Jobs, who cited Picasso’s apocryphal line, “Good artists borrow, great artists steal.” No one knows for sure exactly what Picasso meant (or, for that matter, if he ever even spoke those words), but what is not in dispute is that Picasso was very clever when it came to theft. Instead of stealing from the celebrated artists of his day, which would have made him a second-rate version of Cézanne or Van Gogh, Picasso stole ideas from artists far outside his own milieu. Read more of this post

Heinz: Buffett buyout gets even less Buffett-y; Heinz’s new CEO Bernardo Hees comes from Burger King and, before that, Buffett’s buyout partner 3G. It’s another move that’s outside of Buffett’s playbook

Heinz: Buffett buyout gets even less Buffett-y

By Stephen Gandel, senior editor April 12, 2013: 11:54 AM ET

Heinz’s new CEO Bernardo Hees comes from Burger King and, before that, Buffett’s buyout partner 3G. It’s another move that’s outside of Buffett’s playbook.

FORTUNE — In mid-February, when the deal to buy Heinz was announced, Warren Buffett gave Heinz’s CEO a vote of confidence. “I think Bill Johnson has done a very good job of running the company,” Buffett told CNBC.

Two months later, Johnson is out of a job. Read more of this post

Cities as ideas; founding visions are vulnerable. The more their realisation depends on the will and power of a single leader (or a colonial power), the more likely they are to be subverted

Cities as ideas

When Peter the Great visited Amsterdam in 1697, he was dazzled. It was the richest city in the world, a maritime superpower and a global trade hub — confirmation of the West’s superiority in technology, education and the arts.

Amy Bernstein is the editor of Harvard Business Review.

20 HOURS 22 MIN AGO

When Peter the Great visited Amsterdam in 1697, he was dazzled. It was the richest city in the world, a maritime superpower and a global trade hub — confirmation of the West’s superiority in technology, education and the arts.

The contrast between the brilliance and worldliness of Amsterdam and the dreariness and xenophobia of his own capital, Moscow, was not to be borne. He wanted an Amsterdam of his own. So he built one.

As Daniel Brook describes in A History of Future Cities, St Petersburg was the czar’s bid to modernise (read: Westernise) his empire, and he supervised every detail of its construction. He brought in architects from Switzerland and Germany and engineers from England, Germany and Italy. He established the empire’s first secular, coeducational university and the world’s first public museum. He introduced his people to newspapers, salons and instrumental music concerts. In just a few years, St Petersburg grew into a model of European sophistication and a monument to its founder’s vision and audacity. Peter’s accomplishment, Brook argues persuasively, illustrates the notion that cities are “metaphors in steel and stone”. St Petersburg — along with Shanghai, Mumbai (formerly Bombay) and Dubai, the other three cities profiled in Brook’s engaging book — served as a gateway to the West. Through it, Peter imported non-native attitudes, approaches and behaviours in order to build the future.

But founding visions are vulnerable. The more their realisation depends on the will and power of a single leader (or a colonial power), the more likely they are to be subverted. And cities founded on ideas can suddenly, sometimes violently, come to represent entirely different ones. St Petersburg, Shanghai and Mumbai, for example, all turned against the West. Read more of this post

%d bloggers like this: