Cirque Du Soleil Performer Sarah Guillot-Guyard, a 31-year-old mother of two children ages 8 and 5, Plunges To Her Death During Live Vegas Show

Cirque Du Soleil Performer Plunges To Her Death During Live Vegas Show

ALY WEISMAN JUL. 1, 2013, 10:15 AM 8,517 5


31-year-old Sarah Guillot-Guyard fell 50 feet to her death Saturday night in Las Vegas.

A female Cirque du Soleil performer died Saturday night after falling during a performance of the show “Ka” at the MGM Grand in Las Vegas. The incident marks the first death from an accident onstage in Cirque’s 30-year history. Sarah Guillot-Guyard, a 31-year-old mother of two children ages 8 and 5, fell nearly 50 feet in a fatal high-wire accident. Read more of this post

Picture of the Day: Chinese Banks and PBOC


Numbers Go Missing From China Factory Report Without Explanation; China No Longer Making Up Numbers, Now Simply Deleting Them

China No Longer Making Up Numbers, Now Simply Deleting Them

Tyler Durden on 07/02/2013 08:18 -0400

For many years, the Chinese politburo (not to be confused with the US Department of Labor) had a simple solution to accusations that central planning doesn’t work: just make up the economic numbers. However, a few months ago China found itself in hot water when it became impossible to pretend its manipulated numbers were even remotely credible, driven by a massive discrepancy between China exports to Hong Kong and HK imports from China. The immediate result by China, and the PBOC, as it attempted to regain some credibility was an drastic and epic move to force capital reallocation, in the process nearly wiping out its banking sector when interbank lending rates exploded to over 25%. For now, China appears to have regained some control even if the ensuing CNY1 trillion deleveraging that is imminent is sure to lead to unprecedented pain for the country that is more addicted to credit creation than any other. But in the meantime, China has once again fallen bank to doing what it does best: manipulating economic data, in this case the recently announced PMI. Only this time there is a twist: instead of goalseeking reported data to comply with some artificial reality that Beijing approves of, now China is simply flat out refusing to report numbers, period!

Numbers Go Missing From China Factory Report Without Explanation

By Bloomberg News  Jul 1, 2013

An official report on China’s manufacturing in June omitted numbers for export orders, imports and inventories of finished goods, without any explanation for the gaps. Five of 12 sub-indexes usually released with the Purchasing Managers’ Index were absent from today’s releases from the National Bureau of Statistics and the China Federation of Logistics and Purchasing. The others were for backlogs of work and quantities of purchases. The statistics bureau didn’t immediately respond to e-mailed questions asking for comment. Read more of this post

“Hire mediocre people and make yourself look good.” The manager’s fear of delegating; Some executives hold their businesses and their employees back by not letting go; “I never wanted to delegate for fear of losing my clients”

Last updated: July 1, 2013 7:57 pm

The manager’s fear of delegating

By Naomi Shragai

A young chief executive who founded a thriving company appears to be at the peak of his success. But instead of enjoying his achievement, he is stress­ed and overwhelmed with responsibility. His problem is a failure to delegate work. “The company is a triangle and I feel at the bottom of it, holding everything up,” is how he expresses his dilemma. Although he envies managers who are able to delegate, he feels unable to, believing that the company is an extension of himself and his personality. He adds: “I make these emotional connections and I believe that what I do is about the relationships I make with people. I never wanted to delegate for fear of losing my clients.” Although most executives would agree that delegating is crucial to a business’s success, many still micromanage in such a way that they continue to control most aspects of the work. For many, the skill of delegating can be learnt. But when an executive fails to do so even if it is essential to the growth and functioning of the business, the problem may be more deep-rooted. Beliefs that I have come across in my psychotherapy practice, such as “this business is all about me”; “no one can do it as well as me”; or “people are likely to let me down”, are all justifications that sabotage delegation. One consequence of these beliefs is that staff being managed can feel undermined or undervalued, and may soon lose interest in their jobs. The harm to the company can be twofold, according to Jeannie Hodder, a business coach who works at London Business School. First, micromanaged staff cease thinking for themselves, and without imaginative input the company is deprived of innovative ideas and can stagnate. Second, overly hands-on executives can be left feeling overburdened and stressed, and without time to devise strategy. Read more of this post

How LEGO Stopped Thinking Outside the Box and Innovated Inside the Brick

How LEGO Stopped Thinking Outside the Box and Innovated Inside the Brick

Published : July 01, 2013 in Knowledge@Wharton

Few toys have caught the imagination of children everywhere more than LEGOs — the multi-colored plastic blocks that can snap together to construct houses, castles, space ships or fantastical imaginary figures. The Danish company (whose name roughly translates to “play well”) traces its roots to a failed carpenter named Ole Kirk Christiansen, who in 1932 decided to put his skills to work creating toys made of wood. In the late 1940s, Christiansen invested in the then-risky injection molding technology needed to make the plastic blocks. In the late 1950s, Ole Kirk’s son, Godtfred, came up with the interlocking stud-and-tube design that made the company a household name. But there is a side to the company’s story that is rarely told, one that Wharton practice professor David Robertson says can serve as a guide to both the importance and the perils of innovation in today’s global marketplace. In his new book,Brick by Brick: How LEGO Rewrote the Rules of Innovation and Conquered the Global Toy Industry, Robertson, who wrote the book with journalist Bill Breen, recounts how a binge of innovation almost bankrupted LEGO — and how the company brought itself back from the brink by returning to its roots. An edited transcript of the conversation follows.

Knowledge@Wharton: We’re here today with Wharton practice professor David Robertson, author of the new book, Brick by Brick: How LEGO Rewrote the Rules of Innovation and Conquered the Global Toy Industry. David, thanks for being with us today. Read more of this post

If staff are jaded they can bring a business down. But if they’re engaged your enterprise will fly

Are your staff bored stiff?

June 27, 2013

Kate Jones

If staff are jaded they can bring a business down. But if they’re engaged your enterprise will fly. What’s the difference between a company staffed by a motivated team and a company staffed by an unmotivated team? Success and failure, according to the owner of one of Australia’s most iconic brands. Mr Whippy owner Stan Gordon, chief executive of Franchised Food Company, which also owns Cold Rock Ice Creamery, Pretzel World and Nutshack, says having an enthusiastic staff is crucial to the viability of every business. “Having a motivated team actually helps your business grow and if they’re driven, they’ll also grow and embrace the business’ vision,” he says. “The first thing I’d do if I had unmotivated staff is look at what I, as a team leader, am doing wrong. “Am I not creating enough challenges? Is the work too repetitive? Am I not recognising the work done? Maybe I’m not motivated?” Gordon says it should be obvious to any boss that their staff is lacking motivation. “You can see them skulking around the office, dragging their feet around, everything’s a hassle, they make mistakes but always have excuses,” he says. A high turnover of staff is the best indicator and the most costly result of a directionless team, Gordon says. “Like anyone, I would much rather hire people to grow the business than replace outgoing staff,” he says. Gordon oversees 22 staff at the company’s Melbourne head office, plus more than 3000 employees in franchises all over Australia. Drawing on his 20 years of experience in marketing, franchising and people-management, here and in his native South Africa, Gordon has listed the top 10 ways to keep employees motivated. Read more of this post

Kevin Rudd is ditching the optimism of his predecessor and selling himself as the best leader to steer Australia through a downturn as Chinese demand wanes. Rudd’s language puts him more in tune with voters than the message of prosperity and employment growth emphasized by Gillard and former Treasurer Wayne Swan

Australia Recession Risk Flagged by Rudd in Rhetoric Shift

Kevin Rudd is ditching the optimism of his predecessor and selling himself as the best leader to steer Australia through a downturn as Chinese demand wanes.

The new prime minister, who ousted Julia Gillard last week as the ruling Labor party headed toward a landslide election loss, is channeling his ex-boss Ross Garnaut in flagging that the end of a China-led mining boom could lead to a recession. He’s highlighted the dangers posed by a slowing China in at least five statements and warned policies advocated by his opponent Tony Abbott would result in British-style contraction. Read more of this post

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