The most famous brand states have produced

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Mission vs Ambition: Our vision in life defines the quality and direction of your thoughts; Mother Teresa at a tender age of 12 years, took a vow to commit herself to a religious life

Mission vs Ambition

by Ashu Khanna | May 29, 2013

Our vision in life defines the quality and direction of your thoughts


“The very essence of leadership is that you have vision. You can’t blow an uncertain trumpet.” Hesburg

Our vision in life defines the quality and direction of your thoughts. If our vision in life is to be successful, every action will be directed from the need to be successful. Similarly, if our vision in life is being happy and peaceful, the quality of our thoughts will be governed by this need. Based on our circumstances and desires, we all have a different vision for our life. The vision for life often changes with stages of life. In the early years, we are driven by fun and learning and gradually, this changes to ambition and success.

Mother Teresa at a tender age of 12 years, took a vow to commit herself to a religious life. Having established a higher ideal for her life at such an early age, all her actions from thereon gravitated towards learning the order of the nuns and the language of the mission.  Read more of this post

Creative companies: What are the 10 secrets of innovative offices? Allow Time for Ideas to Emerge; Improvise at the Edge of Chaos; Manage Knowledge for Innovation; Ditch the Organizational Chart; Build Decentralized Networks

Creative companies: What are the 10 secrets of innovative offices?

by Eric Barker

What do creative companies do right?

Keith Sawyer got his PhD studying under Mihaly Csikszentmihalyi — the researcher who coined the idea of Flow. I’ve posted about his research on top creative teams and how brainstorming is broken. What did he find when he studied creative companies?

1) Keep Many Irons in the Fire

“In 1997, Shona Brown of McKinsey and Company, working with Kathleen Eisenhardt of Stanford University’s business school, compared three collaborative organizations with three organizations that didn’t innovate. The collaborative organizations constantly experimented, and they always had several different low-cost projects in the works. But instead of a grand plan that organized all the projects, they responded to what emerged. The contrast with the noninnovative companies couldn’t have been more stark— those companies didn’t have any experimental projects under way. And their managers dealt with the future by planning the future— spending months on elaborate strategy and product development plans. The problem was that if the future didn’t unfold according to plan, they were doomed to fail.” Read more of this post

How to build an “agile” culture

How to build an “agile” culture

ON MAY 28, 2013

In 1987, when Paul O’Neill took over as CEO of Alcoa — a once great giant of American industry — he vowed to put all his energy behind improving one metric and one metric only: worker safety. When his tactics were questioned by a group of concerned investors, he explained, “If we bring our injury rates down, it won’t be because of cheerleading or the nonsense you sometimes hear from other CEOs. It will be because the individuals at this company have agreed to become part of something important: They’ve devoted themselves to creating a habit of excellence.”

O’Neill chose safety as his metric — instead of profits, efficiency, inventory or cost of goods sold — because he recognized that safety is core to culture and that culture in turn is core to success. Transform the culture, he believed, and you’d transform the bottom line. Read more of this post

Enduring lessons from the legend of Rothschild’s carrier pigeon

May 28, 2013 5:58 pm

Enduring lessons from the legend of Rothschild’s carrier pigeon

By John Kay

In an era of high-frequency trading, it is differences in perception that offer opportunities

In 1815, the combined forces of Britain and Prussia defeated Napoleon’s army at the Battle of Waterloo. It was, said the Duke of Wellington, a damn close run thing. But even before the dust had settled on the battlefield, a carrier pigeon belonging to the House of Rothschild was on its way across the Channel to London. Nathan Rothschild, informed ahead of other traders that the country was not to be over-run by the French, consequently made a killing by buying British government bonds.

Little of this legend is true but there are elements that are accurate. There was a battle at Waterloo, which ended Napoleon’s career. Wellington did not say it was a damn close run thing but there is evidence he thought so. The Rothschilds used carrier pigeons but that was not how they learnt the battle’s outcome. Rothschild did have early knowledge of the outcome, and may have used it to advantage, but that knowledge was not the source of the house of Rothschild’s fabled wealth. It did, however, earn a great deal, helping governments of all complexions to fund the Napoleonic wars. Read more of this post

Self-made millionaire and Pimlico Plumbers founder Charlie Mullins shares how he made his first million and how he’s grown his business significantly despite the economic gloom

Charlie Mullins: How I made my first million

Self-made millionaire and Pimlico Plumbers founder Charlie Mullins shares how he made his first million.


By Emma Wall

3:45PM BST 28 May 2013

Charlie Mullins was Britain’s first “millionaire plumber”. Pimlico Plumbers was started from a basement of a London estate agent in 1979; it now employs 200 people and has an £18m turnover.

Charlie decided at the age of nine that he wanted to be a plumber, after noticing that his local plumber was well respected, had a great lifestyle and money. So, he took to ‘bunking off’ school to earn “two bob a day”’ working with the local plumber.

After leaving school at 15 with no qualifications – “a big mistake, I should have left at 14,” he said – and completing a four year apprenticeship in plumbing Charlie started out with a second hand van and a bag of tools. In 1979 he started Pimlico Plumbers from a basement of an estate agent in Pimlico. Read more of this post

Export Champions: My Carry Potty is an overseas hit; Amanda Jenner, founder of My Carry Potty, explains how she turned her “back of a cigarette packet” sketch into a business that’s exporting to 30 markets

Export Champions: My Carry Potty is an overseas hit

Amanda Jenner, founder of My Carry Potty, explains how she turned her “back of a cigarette packet” sketch into a business that’s exporting to 30 markets.


Amanda Jenner started My Carry Potty four years ago

By James Hurley

6:05PM BST 28 May 2013

A fledgling exporting strategy can go too well. Just ask Amanda Jenner. Three years ago, when she took the children’s travel potty she had designed to an overseas trade show for the first time, she was overwhelmed by interest and orders.

“We had an astronomical response – I was shocked at the strength of it. It was just me and one product next to all these established businesses but we got orders from South Korea, America, Germany and Italy.”

“Hugely exciting”, the Bournemouth-based entrepreneur recalls, yet she admits she was “naive” to take on “everyone who said yes”. “People will order 1,000 units but don’t want to build the brand. Now we’ve realised exporting is not all about volume.” Read more of this post

JCPenney Forced To Deny Tea Kettle Looks Like Hitler

JCPenney Forced To Deny Tea Kettle Looks Like Hitler

Jim Edwards | May 28, 2013, 2:56 PM | 16,439 | 17

JCPenney has officially denied that a tea kettle being advertised on a billboard on the 405 Interstate near Culver City, Calif., is intended to represent Adolf Hitler, the Nazi dictator during World War II. The notion that the kettle looked a bit like the architect of the Holocaust caught on after someone posted a photo on Imgur, the photo sharing site, showing what the image of the kettle looks like if you squint at it. Sure enough, a black sweep of hair, a moustache and a saluting “arm” appear, sort of. The Telegraph wrote a story about it, and JCP responded in a tweet that said, “Certainly unintended. If we’d designed the kettle to look like something, we would’ve gone w/a snowman.” (It’s a rare day when a major retailer can get away with tweeting a Hitler joke — but JCP has pulled this off.) Here’s the Imgur photo:



25 Psychological Traps That Lead ‘Good’ People To Commit Fraud

25 Psychological Traps That Lead ‘Good’ People To Commit Fraud

Max Nisen and Aimee Groth | May 28, 2013, 1:27 PM | 18,389 | 3

Former Enron CEO Jeff Skilling (R) was convicted for conspiracy and securities fraud

Many white collar crimes aren’t committed by hardened criminals. It’s often normally moral people under financial strain, those under severe pressure from their bosses or shareholders, or people who get away with something minor then try to to test their limits.

So what exactly leads otherwise normal and hardworking people to cross the line? That’s the subject of a paper by Dr. Muel Kaptein of the Rotterdam School Of Management.

We’ve collected some of the key insights and cognitive biases as a guide of what to look out for in a workplace.  Read more of this post

To disrupt an industry, it’s best to know it well

To disrupt an industry, it’s best to know it well

ON MAY 27, 2013

The word “disruption” gets tossed around so often in the tech blogosphere that it’s become practically meaningless. But there’s plenty of room in the world for legit disruption, i.e., starting a company that eats away at, and maybe even topples, a dominant industry.

The problem is that too many people set out to disrupt industries that they don’t understand.Often VCs worship the idea of a naive 20-year-old engineer who is unfamiliar how an old industry is set in its ways. It takes that kind of naiveté to shake up the old dominant players who aren’t incentivized to innovate, the thinking goes. Execs in the hospitality industry can list thousands of reasons why something like Airbnb would never work. It took a crazy, determined and somewhat desperate group of recent college grads to build something like Airbnb; now those same hotel execs are wondering if their businesses are under threat from the site and its many copycats. Read more of this post

Museums, long reluctant to post good-quality images of their artworks online, are rethinking that strategy as innovators like the Rijksmuseum in Amsterdam make a range of copying and clipping services available

May 28, 2013

Masterworks for One and All


AMSTERDAM — Many museums post their collections online, but the Rijksmuseum here has taken the unusual step of offering downloads of high-resolution images at no cost, encouraging the public to copy and transform its artworks into stationery, T-shirts, tattoos, plates or even toilet paper.

The museum, whose collection includes masterpieces by Rembrandt, Vermeer, Mondrian and van Gogh, has already made images of 125,000 of its works available through Rijksstudio, an interactive section of its Web site. The staff’s goal is to add 40,000 images a year until the entire collection of one million artworks spanning eight centuries is available, said Taco Dibbits, the director of collections at the Rijksmuseum. Read more of this post

Talent Management: Boards Give Their Companies an “F”

Talent Management: Boards Give Their Companies an “F”

by Boris Groysberg and Deborah Bell  |  12:00 PM May 28, 2013


What is top of mind for corporate boards worldwide? In one of the most comprehensive global surveys of corporate directors to date, we found that they were very worried about developing and enacting strategic plans that will enable their organizations to succeed. And what did they say was their biggest concern? Not competitive threats. Not rising costs. Not innovation, risk management, technology, debt, or the regulatory environment. Corporate directors identified talent management as their single greatest strategic challenge.

In our survey, conducted in partnership with WomenCorporateDirectors and Heidrick & Struggles, we asked over 1,000 board members across the globe to rate their companies’ performance in each of nine dimensions of talent management: attracting top talent; hiring top talent; assessing talent; developing talent; rewarding talent; retaining talent; firing; aligning talent strategy with business strategy; and leveraging diversity in company’s workforce. Read more of this post

NYC Commuters Ride to Work as Public Bikeshare Begins

NYC Commuters Ride to Work as Public Bikeshare Begins

New York City’s newest public-transit option, which allows commuters to rent bicycles to get to work, got its first real road test today as businesses reopened after the Memorial Day holiday weekend.

Tim McGlinn, a 44-year-old equities analyst at U.S. Steel & Carnegie Pension Fund, stuck his blue plastic key in the docking station outside Pennsylvania Station this morning to release one of 25 gleaming new two-wheelers for the first time. He takes the train from Maplewood, New Jersey, each day and had longed for the opportunity to swap his subway trip for a bike ride on the two-mile trek uptown to his office. Read more of this post

Bayern Ousts Manchester United From Soccer Brand-Value Throne

Bayern Ousts Manchester United From Soccer Brand-Value Throne

Bayern Munich, which won the Champions League title four days ago, has ousted Manchester United from first place in brand value, according to a survey of the world’s top soccer teams.

Brand Finance Plc gave Bayern a brand valuation of 668 million euros ($860 million), up 8 percent from last year, the company said in an e-mailed statement, citing its annual report. Manchester United, which won a record 20 English league titles, fell to second place with a brand estimated at 650 million euros.

“Bayern Munich is still very much a story of domestic dominance, however its continued presence in the Champions league has provided the club with access to a global audience,” Dave Chattaway, London-based Brand Finance’s Head of Sports Valuation, said in the statement. “The challenge now for all Bundesliga clubs and the league itself, is to see if they can export their domestic brand strength into global opportunities.” Read more of this post

What is the difference between Sunni and Shia Muslims?

What is the difference between Sunni and Shia Muslims?

May 28th 2013, 23:50 by S.B.

CLASHES between Islam’s two big sects, the Sunni and the Shia, take place across the Muslim world. In the Middle East a potent mix of religion and politics hassharpened the divide between Iran’s Shia government and the Gulf states, which have Sunni governments. Last year a report by the Pew Research Centre, a think tank, found 40% of Sunnis do not consider Shia to be proper Muslims. So what exactly divides Sunni and Shia Islam and how deep does the rift go?

The argument dates back to the death in 632 of Islam’s founder, the Prophet Muhammad. Tribal Arabs who followed him were split over who should inherit what was both a political and a religious office. The majority, who would go on to become known as the Sunnis, and today make up 80% of Muslims, backed Abu Bakr, a friend of the Prophet and father of his wife Aisha. Others thought Muhammad’s kin the rightful successors. They claimed the Prophet had anointed Ali, his cousin and son-in-law—they became known as the Shia, a contraction of “shiaat Ali”, the partisans of Ali. Abu Bakr’s backers won out, though Ali did briefly rule as the fourth caliph, the title given to Muhammad’s successors. Islam’s split was cemented when Ali’s son Hussein was killed in 680 in Karbala (modern Iraq) by the ruling Sunni caliph’s troops. Sunni rulers continued to monopolise political power, while the Shia lived in the shadow of the state, looking instead to their imams, the first twelve of whom were descended directly from Ali, for guidance. As time went on the religious beliefs of the two groups started to diverge. Read more of this post

Fed’s 100-Year Roots Grew From Virginia Congressman

Fed’s 100-Year Roots Grew From Virginia Congressman

As Carter Glass began to sketch out plans for a central bank in 1913, all the U.S. representative from Virginia had to do was read his mail to know he had nationwide support.

“As soon as money is needed in business in larger amounts than usual, the banks and business men begin to wonder if it is going to be possible to get the funds necessary to see us through,” Chas. K. Gleason of Edwin P. Gleason & Son, “Converters of Cotton Goods,” wrote from Philadelphia on March 26, 1913. “Currency Legislation is of utmost importance to business men and all the people connected with them.”

Gleason was just one of thousands of American bankers, coffee roasters, shoemakers, bed manufacturers, coal jobbers and hardware-store owners who were fed up with the way the financial system was strangling an otherwise booming economy at the turn of the 20th century.

The correspondence — in an archive of Glass’s papers at the University of Virginia’s Albert and Shirley Small Special Collections Library — leaves little doubt about why the Federal Reserve Act became a law 100 years ago. The public demanded it. Read more of this post

Bill Gates Fattens Wealth Gap Over Slim as Family Office Cascade’s Investments in Ecolab Surges

Bill Gates Fattens Wealth Gap Over Slim as Cascade Surges

Microsoft co-founder Bill Gates extended his lead yesterday over Mexico’s Carlos Slim as the world’s richest person to $5.1 billion, according to the Bloomberg Billionaires Index.

Almost all of Gates’s investments, including a 4.8 percent stake in Redmond, Washington-based Microsoft, have soared this year while Slim’s main holding, a 44 percent stake in America Movil SAB, the largest mobile-phone operator in the Americas, has fallen 14 percent.

One of the biggest gainers in Gates’s portfolio, which he controls through his Kirkland, Washington-based investment vehicle Cascade Investment LLC, is Ecolab Inc. (ECL) The St. Paul, Minnesota-based provider of sanitation and health services is up 22 percent this year, a performance that has added $423 million to the billionaire’s fortune.

“Ninety percent of what they produce gets flushed down the drain and you have to rebuy it,” Shlomo Rosenbaum, an analyst at Stifel Nicolaus & Co.’s Baltimore office, said in a telephone interview. “They have repositioned their portfolio of assets to be much more exposed to the energy market. That’s something that I think will help their top-line growth for years to come.” Read more of this post

Burton G. Malkiel: You’re Paying Too Much for Investment Help

May 28, 2013, 6:41 p.m. ET

Burton G. Malkiel: You’re Paying Too Much for Investment Help

Index funds have far outperformed the average active manager, and at a far lower cost to the investor.



From 1980 to 2006, the U.S. financial services sector grew from 4.9% to 8.3% of GDP. A substantial share of that increase represented increases in asset-management fees.

Excluding index funds (which make market returns available even to small investors at close to zero expense), fees have risen substantially as a percentage of assets managed. In my judgment, investors have received no benefit from this increase in expense ratios.

The increase in fees could be justified if it reflected increasing returns for investors from active management, or if it improved the efficiency of the market. Neither of these arguments holds. Actively managed funds of publicly traded securities have consistently underperformed index funds—by roughly the differential in fees charged.

Passive portfolios that held all the stocks in a broad-based market index have substantially outperformed the average active manager since 1980. Therefore, the increase in fees likely represents a deadweight loss for investors. Read more of this post

I BLEW IT: 11 VCs Regret The Huge Companies They Said “No” To

How One VC Completely Blew A Meeting With A Startup Founder, And How Another Nailed It

Alyson Shontell | May 28, 2013, 12:14 PM | 8,014 | 6

Cash is king, so venture capitalists often have the upper hand when it comes to meeting with early-stage entrepreneurs. But when startups become big and awesome, the tables turn. Some venture capitalists get that. Others don’t seem to. One frustrated entrepreneur, Andy Dunn, has met with a number of investors for his clothing startup, Bonobos. He wrote a rant that described “dumb VCs” he and other entrepreneurs have dealt with. Bonobos is an e-commerce company that has raised more than $70 million. Its clothing is sold online and nationwide in Nordstrom stores. Dunn raised $30 million in March, and that fundraising process may have inspired the rant. Dunn described one “dumb” investor he met with six times. That person never offered to invest but he also never turned Dunn down. Instead, he just wasted Dunn’s time. Later, when Dunn didn’t inform him about his funding round, the investor acted confused. “Dear Dumb VC, it’s not my job to call you. It’s your job to call me,” Dunn writes. “And the fact that we spent all that time together, and you never got me a term sheet is a strong indicator that you’d rather do what’s in your worst interests than what’s in my best.” Jeremy Lieu of Lightspeed, however, wowed Dunn. Lieu came into his first two meetings visibly prepared. “One of the reasons Jeremy Liew from Lightspeed is an investor in Bonobos is he showed up in our first two meetings wearing my pants!” Dunn writes. It proved Liew had tried Dunn’s product. Dunn concludes his post with another anecdote from a fellow entrepreneur. The founder is now working on a billion-dollar startup, but early on, he was blown off by a VC. “This VC was seventy-five minutes late to meeting with me. He never called to say he was running late. When he got to the office, I wouldn’t meet with him. He groveled to get into meeting with me, and my team was pressuring me to just take the conversation, but I told them to politely tell him that he missed the meeting. That night, as he had flown into town to see me, he kept offering drinks or dinner to make up for it via email. He then went so far as to say his partners would be livid with him for screwing this up. I never took the meeting with him and I never rescheduled. I’d never get another meeting with him if I blew off his time like this, so why should he get another meeting with me?” “Dumb VCs” aside, even good VCs have botched great startup deals. Here are some of their biggest regrets.

I BLEW IT: 11 VCs Regret The Huge Companies They Said “No” To

Alyson Shontell | Aug. 8, 2011, 12:26 PM | 96,026 | 3

We asked angel investors and venture capitalists to tell us about the startups that got away. That is, the startups they could have invested in early, but ultimately passed on for whatever reason. Even the best investors make mistakes. They overlook opportunities, aren’t aggressive enough, or miss out rounds. From Ron Conway to Fred Wilson, we have some good stories about who missed what and why. Read more of this post

Korean chaebol CJ Group Chairman Lee Jay-Hyun Faces up to 10 years in Prison if HE is convicted of Tax Evasion, Illegal Capital outflow, stock manipulation and Breach of Trust, prosecutors said

2013-05-28 17:01

CJ chairman faces up to10 years

Kim Jae-won by
CJ Group Chairman Lee Jay-Hyun Faces up to 10 years in Prison if HE is convicted of Tax Evasion, Illegal Capital outflow, stock manipulation and Breach of Trust, prosecutors said.  The prosecution plans to Summon The 53-year -Old food and Entertainment industry mogul as Early as this week for Questioning.  Read more of this post

Samsung, Hyundai account for 50 pct profit of top 100 firms in S. Korea, boosting concerns over excessive dependence on a few number of companies,

Samsung, Hyundai account for 50 pct profit of top 100 firms in S. Korea 2013-05-29

SEOUL, May 29 (Xinhua) — Samsung Electronics and Hyundai Motor accounted for more than half of net profits generated by top 100 companies by sales in South Korea, boosting concerns over excessive dependence on a few number of companies, local media reported Wednesday. Top 100 South Korean companies listed on the main bourse posted a combined 48.73 trillion won (43 billion U.S. dollars) in net profits in 2012, according to data by the Korea Exchange cited by the local daily ChosunIlbo. Samsung Electronics, Hyundai Motor and its affiliate Kia Motors logged a total of 24.8 trillion won in net income last year, accounting for 51 percent of the total. The share of net profits generated by the big three companies continued to increase from 19 percent in 2007 to 35 percent in 2009, 36 percent 2011 and the record high of 51 percent 2012, according to the report. The heavy dependence on a few number of companies boosted concerns over the South Korean economy, which saw its gross domestic product (GDP) expand less than 1 percent for the past eight straight quarters. Samsung kept its record-breaking earnings trend over the past years, but it depended on smartphone for around 70 percent of its total sales. The end of smartphone boom could lead the company into trouble with generating record-breaking profits. Hyundai saw its operating profit for the first quarter decline 10.7 percent from a year earlier amid worries about the weak yen trend that was feared to hurt the company’s price competitiveness compared with Japanese rivals. The yen/dollar exchange rate rose fast since September last year, topping the 100 yen level in around four years earlier this month. More than 20 percent depreciation of the Japanese yen versus the dollar over the cited period was faster than any other descending period.

Brazilian wine producer Miolo aims to cultivate customers at home by winning favour overseas

May 28, 2013 5:18 pm

A vineyard’s ambitions for a bouquet from Brazil

By Joe Leahy

When Morgana Miolo started doing business in China two years ago, the Brazilian was struck by the cultural differences of operating in the world’s second-largest economy.

“The Chinese close a deal with the most important person at the table raising a glass in toast higher than the others,” says the gaúcha, as people from Brazil’s southern state of Rio Grande do Sul are known. “My first time there, I didn’t know this stuff.”

More unusual than the vagaries of doing business in China, however, was the product Ms Miolo was selling. Hailing from a country best known in China for its savvy on the football field, this fourth-generation scion of a family of Brazilian viticulturists was in Shanghai to establish a market for her Miolo wine brands. Read more of this post

The Stock Exchange of Thailand seeks to increase market capitalisation to US$700 billion in the next three years from $500 billion now to overtake the Singaporean bourse as Southeast Asia’s largest market

SET plans to eclipse Singapore

Published: 29 May 2013 at 00.00

Newspaper section: Business

The Stock Exchange of Thailand seeks to increase market capitalisation to US$700 billion in the next three years from $500 billion now to overtake the Singaporean bourse as Southeast Asia’s largest market, says SET president Charamporn Jotikasthira.

The SET’s market capitalisation is similar to the Malaysian stock exchange but smaller than Singapore and Taiwan’s, each of which is closer to $700 billion.Despite the smaller market capitalisation, the SET has passed its Singaporean counterpart for highest average trading volume in Asean at 50-60 billion baht, about 35% higher than Singapore. Read more of this post

Why Bangkok is the world’s number one tourist destination

Why Bangkok is the world’s number one tourist destination

By Jake Maxwell Watts @jmwatts_ May 28, 2013

Bangkok has beaten London to the number one spot as 2013’s most popular tourist destination, and it’s not just because of Thailand’s reputation for spicy food and Buddhist temples: It’s the shopping.

Thailand’s capital is expected to receive 15.98 million tourists in 2013, compared to London’s 15.96 million and Paris’s 13.92 million, according to MasterCard’s latest Global Destination Cities Index. The city’s luxury malls are legion; Bangkok’s Siam Paragon shopping mall is the world’s second-most photographed location on Instagram, trailing only Bangkok’s Suvarnabhumi airport. Read more of this post

What Mad Over Donuts Learnt from India; the size of stores is not important. Engaging the customer is

What Mad Over Donuts Learnt from India

by Tarak Bhattacharya | May 29, 2013


For Tarak Bhattacharya, COO of Mad Over Donuts, the size of stores is not important. Engaging the customer is

Tarak Bhattacharya
The Challenge: To create a pan-Indian brand from scratch
The Achievement: Has turned MOD into one of the most profitable doughnut chains in the country
How He Did It: Fly under the marketing radar, invest well in the product, keep customers engaged and open small stores in the country

India wasn’t one of the markets we had originally wanted to enter. We were looking for markets like Vietnam, Thailand, the UAE. But we thought that India had potential as there was a mass market and there was no one in the country in the doughnut sector; so the first-mover advantage was there.  Read more of this post

Ronnie Screwvala: The Indian billionaire working for Disney

Ronnie Screwvala: The Indian billionaire working for Disney

May 28, 2013: 9:54 AM ET

Bollywood pioneer Ronnie Screwvala is Disney’s point man in India.

By Kurt Wagner, reporter


FORTUNE — Ronnie Screwvala believes in India. As a self-made entrepreneur, Screwvala turned his small cable television company, UTV, into a multimedia conglomerate worthy of Disney’s (DIS) attention. (Disney fully purchased the company for an undisclosed amount in 2012, and Screwvala is the managing director of the joint entity in India.) The key to Screwvala’s success: capitalizing on an emerging market. India still falls under that umbrella, and with the world’s second-largest population (70% of whom live in rural areas), there is much to be done in terms of innovation, says Screwvala. The billionaire’s foundation, Swades, targets India’s rural population in an attempt to provide reliable running water, access to education, and support for women.Fortune interviewed Screwvala to discuss innovation in India, his role in Bollywood, women in technology, and the future of Indian entrepreneurship. An edited transcript follows. Read more of this post

The Singapore Flyer, the world’s tallest observation wheel, takes bad turn into receivership in less than 5 years from heavy debt and mismanagement; In 2009, some of the company’s investors lost a bid to depose Florian Bollen as chairman

May 28, 2013, 2:54 p.m. ET

Singapore Landmark Takes Bad Turn

Some Assets of Big Observation Wheel Enter Receivership



The Singapore Flyer, the world’s tallest observation wheel, has had some of its assets put in receivership.

Just five years after its opening, a Singapore tourist landmark faces a financial storm.

The Singapore Flyer, the world’s tallest observation wheel, has had some of its assets put in receivership, a process often used by creditors to take control of a business in order to recover debt. Read more of this post

Africa’s Malaria Battle: Fake Drug Pipeline Undercuts Progress

May 28, 2013, 10:39 p.m. ET

Africa’s Malaria Battle: Fake Drug Pipeline Undercuts Progress

By BENOÎT FAUCON in Luanda, Angola, COLUM MURPHY in Guangzhou, China, and JEANNE WHALEN in London


When customs officials in Luanda, Angola, searched a cargo container from China, they found something hidden inside a shipment of loudspeakers: 1.4 million packets of counterfeit Coartem, a malaria drug made by Swiss pharmaceutical giant NovartisNOVN.VX +0.56% AG.

The discovery, last June, led to one of the largest seizures of phony medicines ever. The fakes—enough to treat more than half the country’s annual malaria cases, had they been genuine—are part of a proliferation of bogus malaria drugs in Africa that threatens to undermine years of progress in tackling the disease. Read more of this post

With $30 Billion and 100,000 Patient Deaths Annually at Risk, Hospitals Push Staff to Wash Hands; “People learn to game the system.. there are people who will swipe their badges and turn on the water, but not wash their hands. It’s just amazing.”

May 28, 2013

With Money at Risk, Hospitals Push Staff to Wash Hands


At North Shore University Hospital on Long Island, motion sensors, like those used for burglar alarms, go off every time someone enters an intensive care room. The sensor triggers a video camera, which transmits its images halfway around the world to India, where workers are checking to see if doctors and nurses are performing a critical procedure: washing their hands.

This Big Brother-ish approach is one of a panoply of efforts to promote a basic tenet of infection prevention, hand-washing, or as it is more clinically known in the hospital industry, hand-hygiene. With drug-resistant superbugs on the rise, according to a recent report by the federal Centers for Disease Control and Prevention, and with hospital-acquired infections costing $30 billion and leading to nearly 100,000 patient deaths a year, hospitals are willing to try almost anything to reduce the risk of transmission. Read more of this post

Pork industry hunts for deadly pig virus

Insight: Pork industry hunts for deadly pig virus

3:11pm EDT

By P.J. Huffstutter

Chicago (Reuters) – The sudden and widespread appearance of a swine virus deadly to young pigs – one never before seen in North America – is raising questions about the bio-security shield designed to protect the U.S. food supply.

The swine-only virus, the Porcine Epidemic Diarrhea Virus (PEDV), poses no danger to humans or other animals, and the meat from infected pigs is safe for people to eat.

Though previously seen in parts of Asia and Europe, the virus now has spread into five leading hog-raising U.S. states. How it arrived in the United States remains a mystery.

While the U.S. imports millions of pigs each year from Canada, it imports pigs from virtually no other country, and no Canadian cases of PEDV have been confirmed. Veterinarians and epidemiologists say pigs are infected through oral means, and that the virus is not airborne and does it not occur spontaneously in nature. Read more of this post

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