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Warren Buffett has invested $27.9 million in YG-1 to acquire a 10% stake in cutting tool maker; Buffett believed that it is better to become a major shareholder of YG-1 and receive stable supply of its products than compete with YG-1

S Korea-based YG-1 sets model of “creative economy”

Chung Soon-woo

2013.08.12

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The world’s renowned investment guru Warren Buffett has invested 31.2 billion won ($27.9 million) in a small and mid-sized business (SMB) in Incheon, South Korea to acquire a 10 percent stake. The company that caught his attention was YG-1, Korea-based cutting tool manufacturer. Mr Buffet, who is also a stakeholder of ISCAR, another global leader in the field, believed that it is better to become a major shareholder of YG-1 and receive stable supply of its products than compete with YG-1. YG-1’s flagship product, which made Buffett intimidated, is an endmill. An endmill is an ultra-precision cutting tool, which is mainly used to shape autos, trains and aircrafts, or their components. It is also a must-item for manufacturing such high tech products as smartphones and robots. YG-1 has remained top dog in the global endmill market.  The company has recently gained attention again as it has demonstrated the way to take the path toward the “creative economy” initiative proclaimed by President Park Geun-hye. YG-1, established in 1981, has led the world with its end mills alone and the story of its founder Song Ho-geun (aged 61) is an example of a creative economy textbook. Unlike other SMBs, which do whatever it takes to make money, YG-1 has been dedicated only to endmills.

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You’ll believe a man can fly: Christchurch-based Jetpack maker Martin Aircraft is readying for an IPO blast-off. The firm had obtained full certification from the New Zealand Civil Aviation Authority for manned flight in the last two months

Jetpack maker prepares for lift-off

August 12, 2013 – 7:35PM

Tamlyn Stewart

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You’ll believe a man can fly: Martin Aircraft Company’s jetpack design.

Martin Aircraft Company is readying for an IPO blast-off. The Christchurch-based company said that a public listing could take place early next year as it revealed new details of its latest jetpack design. Chief executive Peter Coker said the P12 prototype was a “huge step-up” from the previous prototype. The firm had obtained full certification from the New Zealand Civil Aviation Authority for manned flight in the last two months, and had made great progress in increasing the flight time of the aircraft, Coker said. Read more of this post

How to be a tough mudder and lead ugly

Fiona Smith Columnist

How to be a tough mudder and lead ugly

Published 05 August 2013 11:41, Updated 09 August 2013 12:14

When you are going through hell, it doesn’t help to try to pretend you are impervious. Corporate coach Peter Barr says emotions in businesses are seen as “ugly”, but they can be recognised and channelled and put to good use. “We all know the term ‘winning ugly’ in sport when things aren’t going that well, when somehow you get through anyway,” he says. “You might be muddy and dirty at the end of the game, but you end up winning. Leading ugly is about that.” Read more of this post

Organisational rain: Employees rebel against administrivia

Fiona Smith Columnist

Organisational rain: Employees rebel against administrivia

Published 06 August 2013 10:27, Updated 07 August 2013 06:52

Some employees are finding the ‘organisational rain’ they have to deal with is becoming too much to bear. So they’re fighting back. Photo: Tamara Voninski

Employer groups are like a dog with a bone when it comes to worrying away at productivity, but maybe they should just get out of the way and let people get on with the job. Workplaces are undergoing massive change and disruption. Everywhere you look, someone has found a new way to cut costs and each time it seems to make it harder for people to do their work. They may be taking away people’s desks, giving them inferior technology to work with, piling on tasks from people who have been sacked, making them beg to be reimbursed for expenses, infuriating them with poorly-designed performance review processes, and setting up even more complex reporting systems. Most people just want a job that is meaningful – and they want to do it well. We get a sense of self-worth from the work we do, and it is not because we think we will get a bonus if we “outperform”. But people are being pushed past their limits and what I am observing is a groundswell of people finding their own way of fighting back. Fed up with nonsensical edicts, administrivia and “organisational rain”, they are refusing to comply. Read more of this post

How the rise of A2 milk in an industry that has been reshaped by low-cost generic milk from big supermarkets is adding millions to the fortune of Rich Lister Tony Perich and provides a powerful lesson about the importance of brand differentiation; A2 is 26 per cent-owned by health food company Freedom Foods

Andrew Heathcote Rich Lists editor

How the rise of A2 milk is adding millions to the fortune of Rich Lister Tony Perich

Published 13 August 2013 09:53, Updated 13 August 2013 10:31

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A2 Corporation chief executive Geoff Babidge expects some slowdown after the Fonterra scare.Sasha Woolley

The rise of milk group A2 Corporation in an industry that has been reshaped by low-cost generic milk from big supermarkets Coles and Woolworths provides a powerful lesson about the importance of brand differentiation in a highly competitive market. Having claimed a strong foothold in the domestic milk market, A2 is eyeing lucrative opportunities overseas but recent events in the Chinese infant formula market highlight the difficulties of entering new territories. A2, which is listed on the New Zealand sharemarket, is 26 per cent-owned by health food company Freedom Foods, one of the best performers on the ASX in the last 12 months. In the year to August 5, Freedom Foods’s share price rose from 56¢ to $1.98 – a 230 per cent increase. Few listed companies can lay claim to such a big rise, which has lifted Freedom Foods’s market capitalisation to $230 million. Read more of this post

How to Be a Better Conversationalist; Good Small Talk Makes Us Likable, But It’s Easy to Get Rusty—How to Avoid Dominating and Being Dominated in a Conversation

Updated August 12, 2013, 10:16 p.m. ET

How to Be a Better Conversationalist

Good Small Talk Makes Us Likable, But It’s Easy to Get Rusty—How to Avoid Dominating and Being Dominated in a Conversation

ELIZABETH BERNSTEIN

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Jason Swett still cringes when he remembers the party in Atlanta 10 years ago, where, drink in hand, he tried “to impress the local Southern belles,” he says, by talking—nonstop. He told the six or so people he’d just met the tale of how once at a grocery store he helped apprehend a thief who’d stuffed steaks down his pants. And the story about the time he spotted a bike at the bottom of a pond in a local park and jumped in to retrieve it. And then the one about how he smoked himself out of his own basement by setting off illegal fireworks. Eventually, Mr. Swett asked the group, “Wanna hear another one?” The reply was unanimous. “No!” six people shouted in unison. Read more of this post

Presentation Techniques: 6 Secrets To Giving Amazing Presentations

AUGUST 12, 2013 by ERIC BARKER

Presentation Techniques: 6 Secrets To Giving Amazing Presentations

Presentations can be unbearable. We average 5.6 hours each week in meetings and 69 percent of us feel they aren’t productive.

Which presentation techniques can help you improve your delivery and convince your audience?

1) To Inspire, Start With “Why” not “What”

What magic do both the speeches of Martin Luther King and the marketing of Apple have that move us to believe and act? Simon Sinek, author of Start with Why: How Great Leaders Inspire Everyone to Take Action, has an interesting theory:

People don’t buy what you do. They buy why you do it… Start with “Why.”

Start with the goal, the messianic mission, and get them on board emotionally. Then when you describe the solution, they’re already sold. Read more of this post

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