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Short Seller Glaucus Alleges Irregularities in Singapore-Listed China Minzhong; fresh and processed vegetables producer “fabricated” its sales figures to its top two customers; Shareholders include GIC, Templeton, Salim’s Indofood, CMIA

Aug 25, 2013

Short Seller Glaucus Alleges Irregularities in China Minzhong

By Gaurav Raghuvanshi

China Minzhong Food Corp.K2N.SG -47.78% Monday halted trading in its shares in Singapore as the food supplier’s stock fell sharply after a short seller published a report alleging irregularities in the company’s business. The company’s share price nearly halved to S$0.53 before the company requested a halt pending the release of an announcement. It didn’t give details. Glaucus Research Group, a firm with a short position on China Minzhong, said in a report that the fresh and processed vegetables producer “fabricated” its sales figures to its top two customers. The research firm cited registry records to claim that China Minzhong’s biggest customer, a Taiwan-based food distributor, was incorporated in November 2009. That was after China Minzhong’s track record period of 2007-2009 mentioned in its initial public offering prospectus, it said. It also said that according to filings by China’s State Administration for Industry and Commerce, China Minzhong’s second-biggest customer had zero revenue in 2009. The research firm didn’t name the two customers. Glaucus Research recommended a ‘strong sell’ on China Minzhong with a price target of S$0.00 for the company’s shares. Glaucus Research, based in California, said it was short China Minzhong, which means that it stands to gain from the decline in the company’s share price. Read more of this post

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What is life all about? Using business strategy to find your life’s purpose

AUGUST 25, 2013 by ERIC BARKER

What is life all about? Using business strategy to find your life’s purpose

What is life all about? What’s your five-year plan? Your ten-year plan? If you’re anything like me, your answer is probably something along the lines of “I have no idea.” And just being asked that question makes you feel inadequate. Like you’re always supposed to know what the future will hold. In his powerful book, How Will You Measure Your Life?, Clayton Christensen reflects that so many of his students at Harvard Business School feel they should always be able to answer “What is life all about?” They expect to have their whole lives mapped out — and if they don’t, something is wrong with them.

Via How Will You Measure Your Life?:

Starting as early as high school, they think that to be successful they need to have a concrete vision of exactly what it is they want to do with their lives. Underlying this belief is the implicit assumption that they should risk deviating from their vision only if things go horribly wrong. Christensen points out a fundamental irony: these business students don’t realize that most businesses, well-planned as they may be, don’t really know what they want to be either. A full 93% of all companies start out doing one thing and abandon that strategy because it wasn’t viable. Read more of this post

How To Overcome Fear And Self-Doubt

How To Overcome Fear And Self-Doubt

JAMES CLEARJAMESCLEAR.COM AUG. 24, 2013, 12:53 PM 4,633 4

I was lifting with the owner of my gym. She was doing clean and jerks. I was squatting. In between sets, I asked if she had ever competed in an Olympic weightlifting meet. “You should do one. They are a lot of fun and you’re definitely built to be a weightlifter.” “That’s what everyone tells me, but I don’t know,” she responded. “Competitions make me kind of nervous. I just think: what if I miss this lift and all of these people see it?” Let’s pause for a moment. Remember, this is someone who OWNS a gym. She misses lifts every single week and sees hundreds of other people do the same. And yet here she is, letting her fear of being judged prevent her from doing something that she’d like to do. This little conversation reminded me of why I hate “fear–based decision making” and got me thinking about the importance of overcoming fear. Let’s talk about how you can get past fear and self–doubt and do the things that you want to do.

Fear–Based Decision Making

Fear–based decision making is when you let your fears or worries dictate your actions (or, in most cases, your lack of action). Read more of this post

The Perils of Short-Term Thinking

The Perils of Short-Term Thinking

by Javier Gimeno | Aug 23, 2013

It’s hard to ignore shareholder demands for quarterly earnings miracles. But too often what looks like “success” today can inhibit a company’s competitiveness tomorrow

Increasingly outspoken activist shareholders and a culture of instant gratification permeate today’s global boardrooms. Forget the annual report: these days, shareholders’ decisions often hinge on financial analysts‘ quarterly financial expectations – and, with perks, jobs and bonuses at stake, more and more senior executives are unable to ignore them. Pressure to produce short-term results has increased in the last five years, according to 63 percent of global executives who responded to a recent McKinsey & Company survey. This fosters what the business community has come to call “short-termism”, defined by the Financial Times as “an excessive focus on short-term results at the expense of long-term interests”.  Read more of this post

Let My People Go Surfing: The Education of a Reluctant Businessman

Let My People Go Surfing: The Education of a Reluctant Businessman Paperback

by Yvon Chouinard  (Author)

let-my-people-go-surfing-yvon-chouinard-hardcover-cover-art

In his long-awaited memoir, Yvon Chouinard-legendary climber, businessman, environmentalist, and founder of Patagonia, Inc.-shares the persistence and courage that have gone into being head of one of the most respected and environmentally responsible companies on earth. From his youth as the son of a French Canadian blacksmith to the thrilling, ambitious climbing expeditions that inspired his innovative designs for the sport’s equipment, Let My People Go Surfing is the story of a man who brought doing good and having grand adventures into the heart of his business life-a book that will deeply affect entrepreneurs and outdoor enthusiasts alike. Read more of this post

Marissa Mayer Might Have Missed The Chance To Work For Google If It Hadn’t Been For An Unintended Keystroke

Marissa Mayer Might Have Missed The Chance To Work For Google If It Hadn’t Been For An Unintended Keystroke

ALYSON SHONTELL AUG. 24, 2013, 12:13 PM 22,490 14

marissa-mayer-young-1

Yahoo CEO Marissa Mayer has had an impressive career which famously began at Google, where she spent a decade and made a fortune. Her unauthorized biography is detailed here, by Business Insider’s Nicholas Carlson. In it, Carlson describes how a lucky keystroke helped Marissa Mayer land at Google, which was then a little-known startup. When Mayer graduated from Stanford, she received more than 12 job offers. She wasn’t interested in adding more opportunities to the pile. So when an email from a recruiter appeared in her inbox, she tried to delete it. Luckily for Mayer, her finger missed the delete key and she ended up opening the pitch instead. The pitch promoted an opportunity at Google, a startup she had heard about through a Stanford professor.  Carlson describes the lucky incident:

Instead of hitting delete, Mayer hit the space bar and opened the email. That email’s subject line: “Work at Google?” Mayer read the email and remembered a conversation she had with Eric Roberts who was still a mentor years after she took his computer science class for non-majors. The prior fall, Roberts listened to Mayer talk about the recommendation engine she’d built, and then told her she should meet with a pair of Ph.D. students who were working on similar stuff. Their names: Sergey Brin and Larry Page. Mayer realized that Google was their startup. Trusting Roberts’ recommendation, she replied to an email she had meant to delete, writing that she’d like an interview.

Young Tech Sees Itself in Microsoft’s Ballmer; Those in mobile and cloud computing, which Microsoft has not taken full advantage of, know that they could one day face similar problems

August 25, 2013

Young Tech Sees Itself in Microsoft’s Ballmer

By QUENTIN HARDY

SAN FRANCISCO — As a young executive at Microsoft, Steven A. Ballmer helped topple older, slower-moving technology giants like the Digital Equipment Corporation, Wang and Novell. These days, it is Microsoft’s turn to fend off the upstarts as it struggles to compete in a computing world that is increasingly mobile and based in a “cloud” of Internet-connected computers to which many customers gain access at the same time. It’s all part of the inevitable life cycle for technology companies. “Getting disrupted is the defining characteristic of this industry,” said Aaron Levie, the chief executive of Box, an online data storage company. “You can even have a near monopoly like Microsoft did, and then everything gets redefined.” Read more of this post

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