Maternal love under streetlight: Mother accompanies daughter to study beside road

Maternal love under streetlight: Mother accompanies daughter to study beside road

(People’s Daily Online)    09:11, September 17, 2013

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Sanitation worker Wu Weixiu helps her daughter with her homework under streetlight

Tang Dingrui, 7, studies beside the road under streetlight every night in Yibin city, southwest China, while her mother, a sanitation worker, cleans road near her.  Wu Weixiu, 38, divorced, lives with her 60-year-old mother and Tang Dingrui. Wu has to do all housework after work, and because of outdoor work, she looks older than her real age. “My mother is illiterate, so she cannot help with my daughter’s homework. Also Tang was born shortsighted, no one can take care of her, so I have to take her with me after school hour. ” Wu feels guilty to her daughter. During her break, she checks her daughter several times and sometimes she reads textbook with her.  But Tang has a positive mind. “My mom has no money to treat my eyes, but she buys new glasses for me every year,” she said happily. Tang has another explanation as to why she does homework under streetlight, saying “streetlight is brighter than the light in my home, and my mom can save electricity expense if I study here.”

Tan Xiaozhen, 101-year-old woman who doesn’t have subsistence allowance, earns her own living by collecting and selling foam boxes in southwest China’s Guizhou Province.

Centenarian scavenger in SW China

2013-09-18 01:24:46 GMT2013-09-18 09:24:46(Beijing Time)  SINA English

By Yu Runze, Sina English

Tan Xiaozhen, 101-year-old woman who doesn’t have subsistence allowance, earns her own living by collecting and selling foam boxes in southwest China’s Guizhou Province. “I arrived in Guizhou over 50 years ago. However, I don’t have a household register in this city,” the old woman said.

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China Developer’s 20% Loan After Bank Rebuff Signals Risk

China Developer’s 20% Loan After Bank Rebuff Signals Risk

China property developer Zhang Fuguo was rejected by banks for a loan to help keep building two office towers in the central city of Zhengzhou. So he turned to a manufacturer of water and gas meters. The 50 million yuan ($8.2 million) loan last month at a 20 percent interest rate will help Zhang pay workers and buy materials and was like “delivering coal on a snowy day,” he said. It was less so for one board member at lender Henan Suntront Technology Co. (300259), who abstained from approval on concern that Zhang’s company would fail to repay the debt. So-called entrusted loans, in which banks are “entrusted” with funds as middlemen between companies, increasingly grease the wheels of China’s economy, withstanding a crackdown on shadow banking this year and rising to a record 293.8 billion yuan in August. The increase was part of a surge in non-bank credit that may add to default risks threatening Premier Li Keqiang’s efforts to sustain 7 percent expansion this decade. Read more of this post

Researcher Puts China’s Local Government Debt at $3.3 Trillion

September 17, 2013, 6:46 a.m. ET

Researcher Puts China’s Local Government Debt at $3.3 Trillion

BEIJING—A Chinese government researcher estimates that China’s practices of borrowing heavily to fuel investment-driven growth have as much as doubled local government debt in just two years to around 20 trillion yuan ($3.3 trillion). The researcher, Liu Yuhui of the Chinese Academy of Social Sciences, said the current dependence on heavy borrowings to drive rapid economic growth is unsustainable. Read more of this post

Playing It Safe Is Riskier than You Think

Playing It Safe Is Riskier than You Think

by Bill Taylor  |   9:00 AM September 17, 2013

There are all sorts of reasons why so many big organizations can be slow to make changes that everyone agrees need to be made. “Our current margins are too good, even though the business is being eroded by new competitors.” “Our current products are still popular, even though a new generation of offerings is getting traction.” “Our current distribution system can’t reach the customers we need to reach to build a new business.” Read more of this post

How to find some value in hitting rock-bottom

September 17, 2013 4:27 pm

How to find some value in hitting rock-bottom

By Luke Johnson

Most large and failing companies can be saved. But they need fresh leaders

The phrase “hitting rock-bottom” is normally reserved for addicts. It defines the point at which their life cannot get worse: they either die or reinvent themselves – and recover. I believe this concept has a broader application: it can be used for companies, cities and even countries. Reaching rock-bottom is necessary for rehabilitation, because until an addict falls that far, they tend not to make the radical reforms necessary to save themselves. Without a nadir to act as a wake-up call, they are likely to remain in denial, blaming others and finding excuses for their problems – and not making the difficult changes necessary. Read more of this post

‘Time Management’ Is BS. Here’s What Works. Energy, not time, is the fundamental currency of high performance.

‘Time Management’ Is BS. Here’s What Works.

ERIC BARKERBARKING UP THE WRONG TREE SEP. 17, 2013, 4:38 PM 2,321 1

Put the schedule down for a second. Consider something I read in The Power of Full Engagement: Maybe it’s not about time. It’s about energy. Via The Power of Full Engagement:

Energy, not time, is the fundamental currency of high performance. It’s a qualitative lens instead of a quantitative one. Focusing on your time management skills sounds great but all hours are not created equal. We’re not machines and the time model is a machine model. Our job isn’t to be a machine — it’s to give the machines something brilliant to do. Do you accomplish more in three hours when you’re sleep-deprived or in one hour when you feel energetic, optimistic and engaged? This may sound fluffy but it’s an important perspective to take: 10 hours of work when you’re exhausted, cranky and distracted might be far less productive than 3 hours when you’re “in the zone.” So why not focus less on hours and more on doing what it takes to make sure you’re at your best?  Read more of this post

Why Being Overworked Can Feel Like Being Poor

Why Being Overworked Can Feel Like Being Poor

MANDI WOODRUFF SEP. 17, 2013, 6:26 PM 1,101 2

What does a single mom earning minimum wage have in common with a millionaire CEO with a calendar packed with back-to-back meetings? They both struggle to find a basic element needed to succeed: The mom never has enough money, and the CEO is constantly running out of time. While they have different needs, the effect of critical scarcity on their mental capacity to handle their problems is similar, according to a new book by Harvard economist Sendhil Mullainathan and Princeton psychologist Eldar Shafir.  Read more of this post

Property Prices Keep the Locks on Myanmar; Office Space in Yangon the Most Expensive in Southeast Asian Region at $78 psm Vs Jakarta $24 psm Vs Manhattan $50 psm

Updated September 17, 2013, 7:57 p.m. ET

Property Prices Keep the Locks on Myanmar

Office Space in Yangon the Most Expensive in Region

SHIBANI MAHTANI

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For years, international companies wanting to set up in Myanmar were stifled by Western sanctions or rebuffed by the country’s military government. Now, as the country opens up, global corporations are finding a new hurdle: real-estate prices. Top-quality office space in prime locations in Yangon, the commercial capital of the poorest country in Southeast Asia, is now the most expensive in the region at $78 a square meter ($7.33 a square foot) per month, according to research from real-estate firm Colliers International. By comparison, office rentals in a booming market like Jakarta are $24 a square meter. Even in Manhattan, the average asking rent is lower, at $49.95. Read more of this post

South American ‘soybean king’ says region feeds world; Los Grobo, the largest producer of wheat in Latin America, deals not only in soy, grains and oilseeds, but also provides agri-input and technical assistance to farmers. “I am a Marxist, you mig

South American ‘soybean king’ says region feeds world

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Tuesday, September 17, 2013 – 10:41

AFP

BUENOS AIRES – Argentina’s Gustavo Grobocopatel, known as the “soybean king,” is head of one of the most powerful agroindustrial groups in South America, and quickly touts soy’s power in feeding people everywhere. “In South America we work to feed the world,” Grobocopatel, 51, said during an interview with AFP. “To criticise soy is to criticise the poor who have begun to eat,” he said. Read more of this post

Veggie-Heavy Stress Reduction Regimen Shown to Modify Cell Aging

Veggie-Heavy Stress Reduction Regimen Shown to Modify Cell Aging

The fountain of youth may simply be a healthy diet and reduced stress after all, not a magic pill or expensive cosmetics. Comprehensive lifestyle changes, including more fruit and vegetables as well as meditation and yoga, were shown to reverse signs of aging at the cellular level for the first time in a study published today. Adopting a diet rich in unprocessed foods combined with moderate exercise and stress management over five years increased the length of telomeres, the ends of chromosomes linked to aging, according to a study of 35 men published in the Lancet medical journal. No previous study has shown the effect of lifestyle changes on telomere length, the authors said. Read more of this post

Singapore’s greedy maid employment agencies

The greedy employment agencies

September 17th, 2013 |  Author: Contributions

While drinking tea at Katong shopping centre, I watched a brand new Bentley driven by a maid agency owner. At Katong shopping centre, there are full of maid agencies. The money from slave trade is good. Most of these owners owned 3 or 4 condos. How they make that kind of money to own such luxuries? Readers, a very cruel way: For 8 months, the maid works for free. The money goes to the agencies. Suppose the maid salary $500, if one month the agency closed say 1000 deals, that work out to $500,000 per month, around the areas, you can see vultures of Bangla and Indian workers trying to exploit these poor Indonesia maids. They know, the maids are vulnerable, as for 8 months, they have zero incomes. These maids were forced into part time prostitution. Read more of this post

How Poverty Takes Over the Mind

How Poverty Takes Over the Mind

Suppose you got no sleep last night and you have to take an intelligence test today. If you’re like most people, you’re not going to do so well on that test. Now suppose you are struggling with poverty and you have to take the same intelligence test. How, if at all, will your test score be affected? Harvard University economist Sendhil Mullainathan and Princeton University psychologist Eldar Shafir offer a clear answer: You will probably do pretty badly. In a series of studies, they found that being poor, and having to manage serious financial problems, can be a lot like going through life with no sleep. The reason is that if you are poor, you are likely to be preoccupied with your economic situation, and your mind has less room for other endeavors. This claim has important implications for how we think about poverty and for how we select policies designed to help poor people. Read more of this post

For Daisy Group founder Matt Riley, speed has been essential to building his business

September 17, 2013 4:52 pm

A fast route to success

By Andrew Bounds

Quick builder: Matt Riley was impatient on leaving school and eager to create a company

It is a long way from Nelson, in the northwest of England, to the City of London. But Matt Riley travels fast. In fact, the motorcycle-riding telecoms entrepreneur – whoseDaisy Group has just announced its first dividend four years after floating on Aim, the London Stock Exchange’s junior market – does everything quickly. His plain, windowless office, where the only decor is a sign proclaiming “cash is king” and a pyramid of baked bean tins, won in weekly football betting contests with staff, looks like it could be vacated at a moment’s notice. Read more of this post

Personal Branding for Introverts

Personal Branding for Introverts

by Dorie Clark  |   1:00 PM September 17, 2013

I had just finished a talk at a leading technology company when an engineer approached me. “I liked your ideas about personal branding, and I can see how they’d work,” he told me. “But most of them aren’t for me — I’m an introvert. Is there anything I can do?” What he didn’t realize is that (like anestimated one-third to one-half of the population) I’m one, too. Despite the common misperception that all introverts are shy, and vice versa, they’re two very different phenomena. (Author and introversion expert Susan Cain defines shyness as “the fear of negative judgment,” while introversion is “a preference for quiet, minimally stimulating environments.”) I actually like giving talks to large groups (that day, there were 180 people in the room and another 325 watching online). I’m happy to mingle and answer questions afterward. But at a certain point, I’ve learned through experience, I have to get away and go somewhere by myself. Read more of this post

DNA Double Take: Your DNA and identity are not as entwined as once thought. In fact most people have multiple genomes floating around, from mutations and remnants of pregnancies or twins

September 16, 2013

DNA Double Take

By CARL ZIMMER

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From biology class to “C.S.I.,” we are told again and again that our genome is at the heart of our identity. Read the sequences in the chromosomes of a single cell, and learn everything about a person’s genetic information — or, as 23andme, a prominent genetic testing company, says on its Web site, “The more you know about your DNA, the more you know about yourself.” Read more of this post

Does It Count as a Family Dinner If It’s Over in Eight Minutes? Parents Know About the Benefits to Children of Eating Together, But Many Are Looking for Ways to Make the Meal Last

September 17, 2013, 7:00 p.m. ET

Does It Count as a Family Dinner If It’s Over in Eight Minutes?

Parents Know About the Benefits to Children of Eating Together, But Many Are Looking for Ways to Make the Meal Last

DIANA KAPP

Dinner hour? Try dinner 20 minutes. Back to school for many families means back to the packed lineup of sports practices, music lessons and other after-school activities which on some nights can last into early evening. Add homework and parents’ long work hours, and it’s a wonder families ever have time for a sit-down meal. Yet many parents insist on maintaining regular family dinners and feel guilty when they fail, given the list of child-development benefits researchers say are associated with the ritual. These include better grades, healthier body weight, lower rates of cigarette and alcohol use, stronger relationships with parents and better overall mental health.

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Read more of this post

Vending machine market in China poised for explosive growth

Vending machine market in China poised for explosive growth

Staff Reporter

2013-09-18

In early 2011, Huang Heng, a 24 year old from central China’s Hubei province, decided to leave his job as a migrant worker and profit from the summer heat by installing six automated vending machines inside the factory of Great Wall Motors in Baoding in northern Hebei province. The outcome of his venture far exceeded his wildest expectations as he sold 200 beverage cans on the first day, jumping to 300 the following day. Two and a half years later Huang now owns 120 vending machines, costing 30,000-35,000 yuan (US$4.900- US$5,700) each, while his total investment tops 4 million yuan (US$653,400). “I can recoup my investment for a machine in one and a half years on average,” Huang told the Chinese-language Global Entrepreneur magazine. Read more of this post

Shanghai Free Trade Zone details to be delayed

Shanghai Free Trade Zone details to be delayed

Updated: 2013-09-17 23:48

By WEI TIAN in Shanghai ( China Daily) Read more of this post

Preferred Shares for China Banks Supported, but Direction from Gov’t Lacking; There is divergence, for example, over whether preferred shares should be classified as equity or bond investment for accounting purposes

09.17.2013 18:06

Preferred Shares for Banks Supported, but Direction from Gov’t Lacking

Financial institutions already preparing for launch, sources say, but are waiting for regulators to clear up range of issues

By staff reporters Wen Xiu, Zhang Yuzhe and Zheng Fei

(Beijing) – Despite overwhelming support for preferred shares in the banking industry, there is no consensus yet over how the financing instrument should be designed and regulated. Many banks have been preparing to launch preferred shares, but they need regulators to clear away legal ambiguity, sources from banks said. Read more of this post

History and the rise of Shandong set challenge for Japan’s car makers in China

History and the rise of Shandong set challenge for Japan’s car makers in China

5:26pm EDT

By Norihiko Shirouzu and Kazunori Takada

BEIJING/SHANGHAI (Reuters) – A year after their China sales were battered by protests in a territorial dispute, Japan’s big automakers are finding it tough to bounce back in the world’s biggest market. Demand for cars is rising fastest in provinces where anti-Japan sentiment historically runs deepest – a legacy of Japanese occupation around World War Two. In relatively more Japan-friendly parts of southern China such as Guangdong, Toyota Motor Corp (7203.T: Quote,ProfileResearchStock Buzz), Nissan Motor Co (7201.T:QuoteProfileResearchStock Buzz) and Honda Motor Co (7267.T: QuoteProfileResearchStock Buzz) are returning to sales levels near those seen before a diplomatic row last September over a group of rocky, uninhabited islets in the East China Sea. Read more of this post

Chinese Internet Riled Up Over Detention of Corruption-Busting Microblogger

September 17, 2013, 9:40 PM

Chinese Internet Riled Up Over Detention of Corruption-Busting Microblogger

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An image posted to Sina Weibo in Sept. 22 shows identified luxury watches worn by disgraced former Chinese official Yang Dacai. A number of Mr. Yang’s watches were identified with the help of microblogger Wu Dong, known online as Boss Hua.

China’s top social media site lit up Tuesday night following reports that one of its most celebrated corruption busters had been taken into police custody amid a renewed government effort to exert more control online. The official newspaper of China’s military, Liberation Daily, reported on its verified feed on Sina Corp.’s Weibo microblogging site that the microblogger known by the pen name “Boss Hua Has Lost His Golden Cudgel” was being interrogated by police in Beijing’s eastern Chaoyang district, though it did not say when or why he was taken away. A policeman answering phones in the Chaoyang district police station said he had no knowledge of the case. Calls to the station’s propaganda office rang unanswered Tuesday night. Read more of this post

China’s Bosses Size Up a Changing Labor Force

China’s Bosses Size Up a Changing Labor Force

By Christina Larson September 16, 2013

John Liu is the 31-year-old founder and owner of Harderson International, a small factory in southern China that applies paint and decals to ceramics and glass. His showroom includes samples of tinted perfume bottles made for Ralph Lauren and Kate Spade. A 2006 graduate of Wuhan University in central China, Liu is not much older than the 20-somethings and late teenagers who come to work on the assembly line. But generational cohorts in China are extremely compressed, and Liu sees a vast gap in expectations between himself and those a decade younger. “When I finished school, I felt I needed to find a good stable job quickly and earn money,” he says. “But living conditions in China have improved quickly. Young people now don’t have to work so hard to earn a living, and many have parents who will support them. … A lot of those born in the 1990s can’t stand this kind of repetitive work, so they choose to stay home or do very simple cashier work, even though it pays less.” The upshot is that, for a small factory, it’s “getting harder to find workers.” Read more of this post

China’s Shadow Bankers Seek Their Place in the Sun

September 17, 2013, 11:30 AM

China’s Shadow Bankers Seek Their Place in the Sun

China’s trust companies are feeling hurt and unloved. If you ask them, they’ll tell you their hard work has been a little misunderstood. “People say the trust firms are the ‘bad boys’ of the financial sector. I think it’s a misunderstanding,” said Li Zhenhua, secretary general of the China Wealth Management 50 Forum, a financial industry group. “There have been rarely any material defaults and we’ve been offering high returns with close-to-zero risk,” Mr. Li told a briefing on the trust sector’s track record this year. Read more of this post

‘Shanghai’ in Name Adds $45 Billion in Value Amid Bubble Concern

‘Shanghai’ in Name Adds $45 Billion in Value Amid Bubble Concern

Zhang Guangdi has watched the market value of his Shanghai International Port Group Co. (600018) shares jump 130 percent since Aug. 22, when China’s commerce ministry said the government approved a free-trade zone in Shanghai. The 67-year-old retiree says he’ll probably sell the 2,935 yuan ($480) stake when the zone, part of Premier Li Keqiang’s plan to liberalize yuan trading and relax government regulation, opens at the end of this month. The port operator is valued at 25 times profit, a 121 percent premium versus the Shanghai Composite Index (SHCOMP), according to data compiled by Bloomberg. Read more of this post

Bathed, not bred: Vendors warn of fake Yangcheng Lake crabs

Bathed, not bred: Vendors warn of fake Yangcheng Lake crabs

Staff Reporter 

2013-09-18

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Mitten crabs — known locally as hairy crabs — are a seasonal delicacy in China especially around the time of the traditional Mid-Autumn Festival, which falls this year on Sept. 19. The area most famous for producing the crabs is Yangcheng Lake, to the northeast of Suzhou in eastern China’s Jiangsu province, and the name is sufficiently well known for some vendors to try to pass crabs bred elsewhere as genuine Yangcheng Lake produce, reports our Chinese-language sister paper Want Daily. More than 2,000 households are estimated to make a living selling Yangcheng Lake crabs, producing about 2,000 tonnes of the crustaceans a year. Genuine Yangcheng Lake crabs will go on sale from Sept. 17 this year, which means crabs which have gone on sale so far claiming to be from the area are not so, according to an association officially approved to oversee the trade in crabs from Suzhou. The crabs that have gone on sale so far are from outside the area, say Yangcheng Lake crab farmers, who say unscrupulous vendors raise their crabs elsewhere before taking them to the lake for a dip in the water before selling them at a higher price than they would otherwise fetch. This year’s harvest of Yangcheng Lake crabs is estimated to be down by about 20% this year due to hot weather, creating higher prices for a more limited supply. Customers who are buying their crabs at a cheaper price are likely to be buying specimens which have only “taken a bath” in the lake, local breeders said.

A Troubling Future for China’s Once-Raucous Internet

A Troubling Future for China’s Once-Raucous Internet

At some point after his Aug. 23 arrest for allegedly soliciting a prostitute, Chinese Internet celebrity Charles Xue began losing his 12 million followers on Sina Weibo, the country’s most popular microblogging site. The abandonment of Xue, a billionaire investor and online activist, has been subtle but unmistakable: At 12:36 p.m. on Monday in China, he had 12,054,441 followers; 10 seconds later, he had 12,054,435; after another 10 seconds, he was down to 12,054,430. In five minutes, 50 followers had cut their online ties. Read more of this post

China’s Choking Cities Means Job Cuts at Steel Town

China’s Choking Cities Means Job Cuts at Steel Town: Commodities

Zhang Fei sums up one of the headaches for China’s Premier Li Keqiang in his efforts to refocus the country’s economy. The 40 year-old contractor, who’d just earned 160 yuan ($26) for four hours work at a local steel mill, is leaning on his red motorcycle in grimy army fatigues and battered running shoes on Galaxy Street. That’s a 10-mile strip lined with forges, welders, tire repair and auto-painting shops, as well as restaurants, a school and a hospital. Read more of this post

China will strictly control the construction of new photovoltaic manufacturing projects to curb excess capacity in the world’s biggest maker of solar panels

China to Strictly Limit Building of More Photovoltaic Capacity

China will strictly control the construction of new photovoltaic manufacturing projects to curb excess capacity in the world’s biggest maker of solar panels. New solar manufacturing that “purely” expands capacity will be strictly banned, the Ministry of Industry and Information Technology said in a statement on its website today. Annual spending by companies for research and development and upgrading equipment combined must be no less than 3 percent of revenue and no less than 10 million yuan ($1.6 million), according to the statement. Chinese authorities have pledged to cut overcapacity in industries from steel to paper as policy makers seek to reduce the economy’s reliance on investments and exports. A global oversupply of solar panels led to a 20 percent plunge in average prices last year, according to data compiled by Bloomberg. The government’s previous backing for the solar industry has left at least one factory producing photovoltaic products in half of China’s 600 cities, according to the China Renewable Energy Society in Beijing. China’s solar industry now accounts for seven out of every 10 solar panels produced worldwide, according to data compiled by Bloomberg.

To contact Bloomberg News staff for this story: Sarah Chen in Beijing at schen514@bloomberg.net

Needhman on Investing Using Peter Lynch’s One Up on Wall Street as Guide

Needhman on Investing Using Peter Lynch’s One Up on Wall Street as Guide

ValueWalk Staff

Lynch devotes an entire chapter to the tenbagger.  A tenbagger is a stock that goes up tenfold.   ”The most fascinating part of any of these fast-growth retailing stories…is how much time you have to catch on to them.” Lynch cites Wal-Mart (WMT), the Body Shop and Toys R Us (now private) as examples in which an investor had years to buy the stock and still achieve tenbaggers. Lynch loved small cap stocks for their tenbagger potential.  We are also big believers in small caps.  Except during unusual market conditions, Chris Retzler’s Needham Small Cap Growth Fund (NESGX) has 80% of its assets invested in small caps.  As of September 30, 2012, the Needham Aggressive Growth Fund (NEAGX) had 61% of assets in small (between $250 million and $2 billion market cap) and micro cap (under $250 million) and the Needham Growth Fund (NEEGX) had 47% invested in small or micro caps equities. Read more of this post

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