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LKY: Mao Promoted Perpetual Struggle; Deng Saved China from Chaos

Mao Promoted Perpetual Struggle; Deng Saved China from Chaos

by Lee Kuan Yew | Aug 8, 2013

Mao’s successor drew lessons from Singapore’s economic development

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On October 1, 1949, at the Gate of Heavenly Peace in Beijing, Mao Zedong, leader of the Communist Revolution, declared the founding of the modern People’s Republic of China. Mao was an idealist who strove for constant class struggle as a way to keep the Chinese from becoming bourgeois. At the height of the Cultural Revolution, in 1967-69, schools and universities were closed, and children were encouraged to hit and rebel against their parents. Mao was, of course, a famous leader and liberator, but he was less practical when it came to governing the country.

More practical was Deng Xiaoping, who quietly took control after Mao’s death, calmed the country and concentrated on its economic development. Were it not for him, China might well have broken apart. Read more of this post

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The Nudge Debate: Considering how mentally lazy most of us are, a little soft paternalism that forces us to choose what’s good for us is probably just what we all need

August 8, 2013

The Nudge Debate

By DAVID BROOKS

This has been a great era for the study of error. We know that people can be induced to buy more cans of soup if you put a “Limit: 12 per customer” sign on the display. We know that if you ask people what movie they want to see next week, they’re likely to mention a classy art film. But, if you ask them what movie they want to see tonight, they’re more likely to mention a mindless blockbuster. In addition, people are pretty bad at sacrificing short-term pleasure for long-term benefit. We’re bad at calculating risk. We’re mentally lazy. We make decision-making errors when thinking in our own language that we don’t make when thinking in another language. When asked to think in a second language, we’re forced to put in a little more mental effort. Read more of this post

Events for Weekend Warriors Become a Gold Mine; Forget Silicon Valley—In the Latest Startup Craze, Fortune Is Being Spun from a Sport of the Cave Man

August 8, 2013, 8:14 p.m. ET

Events for Weekend Warriors Become a Gold Mine

Forget Silicon Valley—In the Latest Startup Craze, Fortune Is Being Spun from a Sport of the Cave Man

KEVIN TRAHAN and KEVIN HELLIKER

The foot race isn’t new. Cave men probably invented it. But suddenly it’s gushing wealth for entrepreneurs, big companies and private-equity firms. The weekend-warrior market is a gold mine, and tapping into it doesn’t require Silicon Valley-style geek credentials or venture capital. Nor must a sports-business career begin anymore in the mail room of a sports network or big-league franchise. Joe Reynolds was 27 when he launched Red Frog Events, a Chicago-based producer of adventure races. In 2012, its sixth year, Red Frog posted revenue exceeding $50 million, prompting Inc. magazine to call it the nation’s ninth-fastest growing company. It can’t add races fast enough to satisfy demand for its $60-and-up slots. Read more of this post

UPS’s Scott Davis on Shipping Sharks, Work Rules, and the Post Office

UPS’s Scott Davis on Shipping Sharks, Work Rules, and the Post Office

By Devin Leonard on August 08, 2013

Have you shipped live sharks?
Yeah. We probably ship a little bit of everything, whales, you name it. We’ve got to be able to handle any precious commodity, and health care is obviously the area we’re moving into. So while we’re doing sharks and lobsters and whales, at the same time people are waiting on the operating table for some things that we’ve got to get to them.

Isn’t that dangerous, shipping live sharks?
It can be. You’ve got to have experts help you.

How do you ship a live whale?
It’s a big container. Read more of this post

Family businesses with succession plans in place are more likely to achieve a better credit rating and as such able to borrow easier than those with no plan

SUCCESSION PLANS KEY TO RATINGS FOR FAMBIZ

ARTICLE | 8 AUGUST, 2013 12:11 PM | BY JESSICA TASMAN-JONES

Family businesses with succession plans in place are more likely to achieve a better credit rating and as such able to borrow easier than those with no plan, according to report from the ratings agency Standard & Poor’s. The report said that family businesses were susceptible to so-called “key man” syndrome, whereby a dominant family figure is associated with the success of the business. But Trevor Pritchard, managing director of corporate ratings at S&P said that this risk can be mitigated by a family business having a clear succession plan in place and this would give help to reassure the ratings agency that the business wasn’t too reliant on one individual. Read more of this post

Investor Loses It Over Adulation And Sympathy For ‘Newspaper Families’ Like The Grahams — This Is A Story Of Incompetence!

Investor Loses It Over Adulation And Sympathy For ‘Newspaper Families’ Like The Grahams — This Is A Story Of Incompetence!

HENRY BLODGET AUG. 8, 2013, 8:02 AM 2,691 12

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I was minding my own business last night when I got the note below from a respected investor. As you will see, the investor has had it with all the adulation and sympathy being showered on newspaper families like the Grahams, who are being extolled for their decades-long “stewardship” of institutions like the Washington Post and New York Times and pitied for the terrible misfortune they and society have recently endured. In the common telling, the investor observes, the Grahams and other newspaper families are cast as victims of an unforeseeable and horrible trend–the unstoppable rise of an invasive technology that has crippled the newspaper business and threatened a profession that has held society together for decades. The Grahams have done their heroic best, this story goes, but the forces of evil have just been too numerous and overwhelming. Now, finally, the brave and intrepid Grahams have had no choice but to surrender. So the world will now go to the dogs. Read more of this post

Discount Grocery Chain WinCo Touted As ‘Wal-Mart’s Worst Nightmare’ with a business model that allows for cheaper prices

A Discount Grocery Chain Is Being Touted As ‘Wal-Mart’s Worst Nightmare’

ASHLEY LUTZ AUG. 8, 2013, 5:32 PM 5,562 30

A discount grocery chain is being called “Wal-Mart’s worst nightmare.” WinCo, a Western grocery chain with about 100 stores, has a business model that allows for cheaper prices than Wal-Mart, writes Brad Tuttle at Time.  WinCo keeps costs low by buying directly from suppliers and eliminating middlemen, according to Tuttle. It also doesn’t accept credit cards and has customers bag their own groceries. A recent Idaho Statesman article about WinCo quoted retail analyst Burt Flickinger III as saying that WinCo was “unstoppable.” “They’re Wal-Mart’s worst nightmare,” Flickinger said.  Much like Costco, WinCo offers a minimalist selection instead of a wide array of brands according to Time. For instance, WinCo might only carry two brands of toothpaste, while Wal-Mart has more than 40. Unlike Wal-Mart, whose employees have demanded better wages, the company provides health benefits to employees who work 24 hours per week and a pension. WinCo is expanding fast, and could convert Wal-Mart’s customers, according to Time. “Generally speaking, shoppers tolerate Walmart’s empty shelves and subpar customer service because the prices are so good,” Tuttle writes. “The fact that another retailer—even a small regional one—is able to compete and sometimes beat Walmart on prices, while also operating well-organized stores staffed by workers who enjoy their jobs, like their employer, and genuinely want the company to be successful.”

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