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Ray Dolby, Inventor of Surround Sound, Dies at 80; while Ray Dolby was an engineer at heart, his achievements “grew out of a love of music and the arts.”

Ray Dolby, Inventor of Surround Sound, Dies at 80

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Ray Dolby, the billionaire U.S. inventor whose name became synonymous with high-end home and cinema surround sound, has died. He was 80. He died yesterday at his home in San Francisco, according to a statement by Dolby Laboratories Inc. (DLB) He had been suffering from Alzheimer’s disease and was diagnosed in July with acute leukemia, the San Francisco-based company said. Through the company he founded in 1965, Dolby pioneered noise-reduction and surround-sound technologies that are used in movies, cinemas, personal computers and home theater equipment. The Dolby logo — two block-letter Ds, facing each other — became a sign of audio quality, indicating the presence of Dolby technology that reduced the hiss from cassette tapes, for instance, or added a digital soundtrack to movies. Tom Dolby, one of his sons, said in the statement that while his father was an engineer at heart, his achievements “grew out of a love of music and the arts.” When Dolby Laboratories went public in 2005, its shares surged 35 percent on the first day of trading. The founder, who held more than 50 patents, received $306 million from the IPO, and his 69.8 percent stake became worth $1.65 billion. As of yesterday his net worth was $2.85 billion, according to the Bloomberg Billionaires Index. Read more of this post

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Detecting Accounting Frauds in Asia (Part 1) (Bamboo Innovator Insight)

The following article is extracted from the Bamboo Innovator Insight weekly column blog related to the context and thought leadership behind the stock idea generation process of Asian wide-moat businesses that are featured in the upcoming monthly Moat Report Asia. Fellow value investors get to go behind the scene to learn thought-provoking timely insights on key macro and industry trends in Asia as well as benefit from the occasional discussion of potential red flags, misgovernance or fraud-detection trails ahead of time to enhance the critical-thinking skill about the myriad pitfalls of investing in Asia at the microstructure- and firm-level.

  • Detecting Accounting Frauds in Asia (Part 1), Sep 11, 2013 (BeyondProxy)

DetectingFrauds1

 

Opportunities in Event-Driven Investing and Spinoffs in Asia (Bamboo Innovator Insight)

The following article is extracted from the Bamboo Innovator Insight weekly column blog related to the context and thought leadership behind the stock idea generation process of Asian wide-moat businesses that are featured in the upcoming monthly Moat Report Asia. Fellow value investors get to go behind the scene to learn thought-provoking timely insights on key macro and industry trends in Asia as well as benefit from the occasional discussion of potential red flags, misgovernance or fraud-detection trails ahead of time to enhance the critical-thinking skill about the myriad pitfalls of investing in Asia at the microstructure- and firm-level.

  • Opportunities in Event-Driven Investing and Spinoffs in Asia, Sep 9, 2013 (BeyondProxy)

Spinoff

 

Doubts Rise as China Touts Upturn; Beijing’s Reliance on Credit-Fueled Megaprojects, Exports Raises Questions About Rebound’s Length

Updated September 12, 2013, 7:08 p.m. ET

Doubts Rise as China Touts Upturn

Beijing’s Reliance on Credit-Fueled Megaprojects, Exports Raises Questions About Rebound’s Length

BOB DAVIS, TOM ORLIK and LAURIE BURKITT

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BEIJING—China’s leaders are trumpeting their commitment to overhauls, but there are signs a recent turnaround in the Chinese economy relies on old policies, raising doubts about how long the rebound can continue. Some economists and business leaders say Beijing is pulling the same levers it has used in the past to produce growth, leaving untouched a reliance on exports abroad and credit-fueled investment in large infrastructure projects at home—the very model China says it wants to scrap. Over the past two months, China’s industrial output, electricity production and exports have posted solid gains, buoying global markets and easing fears the country would join other emerging economies reeling in anticipation that the U.S. Federal Reserve will curb bond-buying. Read more of this post

It’s China, it’s bad loans, and it’s securitisation

It’s China, it’s bad loans, and it’s securitisation

David Keohane

| Sep 13 08:33 | 3 comments | Share

What could possibly go wrong? It looks increasingly likely that China is gearing up for another round of bad-loan cleansing with asset management companies seemingly being prepared for some more NPL absorption and a move towards what might be loosely termed market-based approaches to restructurings. It looks like this will include securitisation, which Chinese authorities have been dipping their toes back into since a Lehman-burning, according to SocGen’s Wei Yao (with our emphasis):

China’s credit asset securitisation (CAS) got off to a meaningful start in 2005 when the government accelerated policy initiatives to set up the regulatory framework. Domestic issuance of asset-backed securities (ABS) took off, rising from almost zero to nearly CNY70bn by 2008. However, as soon as the Lehman crisis hit, policymakers suspended the trial programme and only cautiously resumed it in 2011 with six deals totalling CNY22bn, which were subsequently followed in 2012 by a second trial of CNY50bn. Entering 2013, the reluctance has continued to thaw and interest has continued to rise.In August, the State Council announced to steadily push ahead with the pilot scheme for securitisation. A new round of CNY300bn is widely expected to kick off soon. Read more of this post

Banks ‘seeking to transfer non-performing loans’

Banks ‘seeking to transfer non-performing loans’

Updated: 2013-09-13 15:44

By Yang Ziman (chinadaily.com.cn)

A number of banks, including State-owned establishments, are transferring non-performing loans to asset management companies, the 21st Century Business Herald reported. The transfers will be completed by the end of the third quarter, an employee of an asset management company told the newspaper. A bank based in north China has launched a bid to offload its 747 million yuan ($122 million) bad loans to one of the top four AMCs in the country, the newspaper reported. Read more of this post

Middle Managers Have an Outsized Impact on Innovation

Middle Managers Have an Outsized Impact on Innovation

by Ethan Mollick  |   11:00 AM September 12, 2013

Just the mention of “middle managers” is enough to make people’s eyes roll back. But these supposedly boring cogs of the corporation, these objects of derision in Dilbertland, can have a profound impact on innovation and performance. Companies need to pay attention to them and reward their special talent at making the best of the restrictions and limitations of their positions — of making lemonade from lemons. For decades, researchers and businesspeople have assumed that in the thick of large organizations, what matters is process. Are the right resources available? Are incentives effective? If the organization isn’t being innovative, the solution must be structural. Read more of this post

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