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Philip Caldwell, Ford CEO After Henry Ford II, Dies at 93

Philip Caldwell, Ford CEO After Henry Ford II, Dies at 93

Philip Caldwell, Ford Motor Co.’s first chief executive officer who wasn’t a member of the founder’s family, and who gambled the automaker’s future on the Taurus sedan in the 1980s, has died. He was 93. He died yesterday at his home in New Canaan, Connecticut, his family said in a statement provided by the company. The cause was complications of a stroke. Caldwell followed in the footsteps of more famous executives. He became president of Ford in 1978 after Henry Ford II, grandson of founder Henry Ford, fired Lee Iacocca and chose Caldwell to lead the Dearborn, Michigan-based automaker, first as CEO in 1979 and as chairman the following year. His close relationship with Henry Ford II earned Caldwell the nickname “The Prince” inside the company, according to a New York Times profile in 1979. He was “remarkably cool and resolute in a crisis,” wrote Paul Ingrassia and Joseph B. White in their 1994 book, “Comeback: The Fall and Rise of the American Automobile Industry.” He “had enormous analytical skills and the determination to examine any problem from every conceivable angle,” they wrote. As president and then CEO, Caldwell presided over a turnaround. Ford endured almost $3.3 billion of losses during two U.S. recessions from 1980 through 1982, as well as questions over the design and safety of its Pinto model. Read more of this post

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Sibling rivalry a trademark of enterprises in Taiwan

Sibling rivalry a trademark of enterprises in Taiwan

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Wednesday, Jul 10, 2013

Lee Seok Hwai, The Straits Times

EAT Seven Bowls is suing Eat Seven Bowls, but it’s all in the family. The founder of a popular maker of savoury glutinous rice and other traditional Chinese dishes is taking the almost identically named business of his younger brother to court, four years after they went their separate ways. Mr Lee Tung-yuan of Taipei-based Eat Seven Bowls, a trademark he registered in 1986, wants the eatery run by his brother and sister-in-law in Taichung to use its own Eat Seven Bowls trademark and stop using his. As it is, the two trademarks are easily confused. That of the older Mr Lee is rendered in the Minnan dialect, Chia Qiih Warh , while his brother’s uses Mandarin, Chi Qi Wan – with only the character for “eat” rendered differently. Mr Lee filed an injunction with the intellectual property court last month. He told the China Times newspaper he wished only to protect the reputation of his business, which is much more successful than his brother’s. Read more of this post

China Leverage Risks Bypass Super-Saver Households as GDP Slows

China Leverage Risks Bypass Super-Saver Households as GDP Slows

China’s campaign to rein in credit growth, a move that’s spread panic among the nation’s automobile dealers as they worry about access to financing, is a side-issue for 27-year-old lawyer Kevin Han.

Han is an archetype of Chinese workers who on average sock away 30.6 percent of their disposable income, amounting to 6.9 trillion yuan ($1.1 trillion) in total household savings in 2012, according to Louis Kuijs, chief China economist at Royal Bank of Scotland Group Plc in Hong Kong. Han’s breakfast is 5 yuan for a cup of soybean milk and a hardboiled egg or a steamed bun. He has a 20-yuan lunch of white rice, with small portions of meat and vegetables, in the cafeteria at his Beijing workplace. He spends about the same for dinner. Read more of this post

Hedge Funds Are for Suckers

Hedge Funds Are for Suckers

By Sheelah Kolhatkar on July 11, 2013

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At the height of the financial crisis in 2008, a group of famous hedge fund managers was made to stand before Congress like thieves in a stockade and defend their existence to an angry public. The gilded five included George Soros, co-founder of the Quantum Fund; James Simons of Renaissance Technologies; John Paulson of Paulson & Co.; Philip Falcone of Harbinger Capital; and Kenneth Griffin of Citadel. Each man had made hundreds of millions, or billions, of dollars in the preceding years through his own form of glorified gambling, and in some cases, the investors who had poured money into their hedge funds had done OK, too. They were brought to Washington to stand up for their industry and their paychecks, and to address the question of whether their business should be more tightly regulated. They all refused to apologize for their success. They appeared untouchable.

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Toxic China Lake Incites Next Generation as Xi Eases GDP Focus

Toxic China Lake Incites Next Generation as Xi Eases GDP Focus

Ian Chen recalls his father quietly accepting he could no longer wade into a lake near their home in southern China where he’d swum his whole life. The raw sewage and agricultural waste spilling into the water meant it wasn’t safe anymore.

Twenty years later, Chen worries a new source of pollution may be about to envelop his hometown of Kunming. Silence wasn’t an option for the 29-year-old who sold flat-screen televisions on London’s Oxford Street before returning to Kunming, where he now owns three cake shops. He took to the Internet to drum up opposition to a refinery planned on the edge of town that residents fear will spew toxic particles. Read more of this post

How DailyLook grew its international revenue from 0 to 25% in one month; To incentivize its current and new members to help spread the word, DailyLook offered 1,000 “look points” for each friend that joins and makes a purchase

How DailyLook grew its international revenue from 0 to 25% in one month

BY MICHAEL CARNEY 
ON JULY 11, 2013

Less than three weeks into its international launch and Los Angeles women’s fast fashion etailer DailyLook is already seeing 25 percent of its business come from overseas. This is no small feat given its early success domestically, which saw the company generating on the order of $1 million per month in revenue, according to those close to the company, from more than 400,000 highly engaged email subscribers. So what was the key to translating this success overseas so quickly? According to CEO Brian Ree, it was a viral launch strategy. In late Spring, DailyLook posted a counter on its website tracking the progress toward 50,000 international signups, announcing that it would cut the ribbon on its international business if and when this milestone was met. The company further created an artificial deadline of June 23rd, saying that would abandon the plan if it couldn’t gather enough sign ups in time — a threat which it came within days of having to make good on.

To incentivize its current and new members to help spread the word, DailyLook offered 1,000 “look points” for each friend that joins and makes a purchase, where each 2,000 look points converts into a $20 credit on the site. The company then turned to fashion bloggers to spread the word. Needless to say, the strategy appears to have worked. Read more of this post

At Sears, Billionaire Eddie Lampert’s Warring Divisions Model Adds to the Troubles

Billionaire Eddie Lampert Is Running Sears Like The Coliseum, And It’s A Disaster

MAX NISEN JUL. 11, 2013, 5:50 PM 6,154 12

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Five years ago, Sears Chairman Eddie Lampert broke the company into 30 plus autonomous businesses, each with its own president, chief marketing officer, board, and separately measured profit and loss. His idea was to harness the power of the free market, and to produce better and deeper data than anyone else. But the radical restructuring went horribly wrong, as divisions engaged in cutthroat competition against each other, reports Mina Kimes at Bloomberg Businessweek. Some highlights from her report: In order for a division to get help from the IT or HR departments, it had to write up a formal agreement or use a contractor. Since each company had its own board of directors, some executives were on five or six of them and spent all day in meetings. Executive bonuses were based on individual unit performance, so people tried to boost their own division’s profit at the expense of others. Read more of this post

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