South Korea’s Celltrion CEO to Be Probed in Stocks Trading Case

South Korea’s Celltrion CEO to Be Probed in Stocks Trading Case

South Korea’s financial regulator plans to ask prosecutors to investigate the chief executive officer of Celltrion Inc. over alleged stock price manipulation, the drug manufacturer said today. The Financial Services Commission is asking prosecutors to probe the actions of Celltrion’s largest shareholder, the company said in an e-mailed statement. Celltrion disagrees with the FSC’s decision and plans to cooperate with prosecutors, the company said. Celltrion’s largest shareholder is CEO Seo Jung Jin, spokesman Kim Joon Seok confirmed by phone. Read more of this post

How Investors Lose 89 Percent of Gains from Futures Funds

How Investors Lose 89 Percent of Gains from Futures Funds

The pitch was enticing. At a time when the Standard & Poor’s 500 Index had suffered a decline of 41 percent in the previous three years, Morgan Stanley (MS) was offering its clients the possibility of some relief. In a prospectus, the New York securities firm invited its customers to put their money into a little-known area of alternative investing called managed futures. “If you’ve never diversified your portfolio beyond stocks and bonds, you should know about the powerful argument for managed futures,” the bank wrote. “Managed futures may potentially profit at times when traditional markets are experiencing losses.” Read more of this post

Six Other Jerks Whose Stocks Julian Robertson Wouldn’t Buy

Six Other Jerks Whose Stocks Julian Robertson Wouldn’t Buy

Julian Robertson, the hedge fund billionaire, told CNBC that he sold all of his Apple holdings after discovering that Steve Jobs was a “really awful” person through Walter Isaacson’s biography. According to Robertson, this is because mean people can’t build enduringly successful companies. Here are some other business founders whose companies Robertson probably wouldn’t want to own:

1. Henry Clay Frick, United States Steel Corp.

Frick was called one of the “worst American CEOs of all time” by Portfolio magazine. One reason was that his vigorous response to the Homestead Strike of 1892 led to the deaths of 16 people. On the other hand, the company he helped found — U.S. Steel — remains the country’s largest producer, as well as the namesake of the Pittsburgh Steelers, despite the contraction of the American steel industry over the past 30 years. Read more of this post

Singapore: Parents upset over PSLE book-burning ‘celebration’

Parents upset over PSLE book-burning ‘celebration’

burnbooks_int

Tuesday, October 8, 2013 – 12:37

Edvantage

SINGAPORE – A photo showing parents and their kids celebrating the end of the Primary School Leaving Examinations (PSLE) by burning their textbooks has triggered an intense debate online. A reader notified the Shin Min Daily News to the photo circulating on Facebook. According to the reader, the book-burning celebration happened after the exams ended last Wednesday. The photo shows a group of 10 adults and children gathered around a raging fire contained in a metal bin. Torn pages and pieces of paper could be seen strewn around the area. Read more of this post

Robot Surgery Damaging Patients Rises With Marketing

Robot Surgery Damaging Patients Rises With Marketing

Porter Adventist Hospital in Denver announced last year that Warren Kortz, a general surgeon on the medical staff, was the first in the Rocky Mountain region to use a technique known as robotic surgery to remove gall bladders through one incision in the belly button. The operation, performed while the doctor sits at a video-game-like console, was “taking advantage of another breakthrough in robotic surgery” and is “easier on the patient,” the hospital said in a press release. Read more of this post

Flash sale pioneer Vente-Privee eyes smartphone-driven boom

Flash sale pioneer Vente-Privee eyes smartphone-driven boom

9:09am EDT

By Dominique Vidalon and Pascale Denis

PARIS (Reuters) – Vente-Privee, the French firm that pioneered online sales events, expects the bulk of its sales in coming years to be carried out on smartphones and tablet computers, its founder and chief executive said on Tuesday. Vente-Privee, which sells luxury fashion, wine and music at steep discounts to its 19 million European members in “flash sales” that last three to five days, also expects revenue to continue to grow at a double-digit rate over the next 10 years. Read more of this post

Packed China Tourist Sites May Spur Paid-Leave Reform, CCTV Says

Packed China Tourist Sites May Spur Paid-Leave Reform, CCTV Says

China’s overcrowded trains, roads and tourist sites during the week-long National Day holiday may spur the country of more than 1.3 billion people to speed up reforms that ensure paid leave for workers, state television reported. Chinese companies rarely grant requests for vacation time, which combined with growing tourism demand in the world’s second-largest economy, has led to surges in travel during the so-called “Golden Week” holiday Oct. 1-7, China Central Television reported. That’s added impetus to more quickly implement rules that guarantee paid leave, the broadcaster reported yesterday, citing “experts” it didn’t identify. Read more of this post

Casanovas on Foot Baffle Toyota CEO as Japan Sales Shrink: Cars

Casanovas on Foot Baffle Toyota CEO as Japan Sales Shrink: Cars

While Toyota Motor Corp. (7203) President Akio Toyoda is on the cusp of a record year for profit, kids nowadays make him nervous. They’re so clueless that boys without cars have the nerve to ask girls out. “In the past, if you wanted to date someone, you couldn’t ask her out if you didn’t have a car,” Toyoda, 57, told a packed auditorium of about 900 Meiji University students in Tokyo on Sept. 26. “It’s all changed now. Money goes on monthly phone bills. Also, parking’s expensive and it’s easy to get around Tokyo on public transport.” Read more of this post

A Lonely Housing Bear Predicts a Big Tumble

A Lonely Housing Bear Predicts a Big Tumble

Talk to Mark Hanson about the housing market for five minutes and you may find yourself wanting to sell your home and park the cash in a suitcase. The Menlo Park, California, real estate analyst, blogger and founder of consultancy Hanson Advisers predicts a decline of 20 percent in housing prices in the next 12 months. Half the gains since the latest housing bottom in 2011 could be erased in the hot areas — Florida, California, Nevada, Arizona and Georgia — by rising interest rates and a thinner herd of speculative private-equity buyers, he says. Read more of this post

Emerging storm reveals ebbing central bank autonomy

Emerging storm reveals ebbing central bank autonomy

9:25am EDT

By Sujata Rao

LONDON (Reuters) – After a stormy year for global emerging markets, one long-term casualty may be the decade-long push for central banking free from politics and the inflation-busting kudos that earned. Investors see governments once more intent on pumping up economic growth via low interest rates even at the risk of inflation and currency volatility. The trend is effectively rolling back more than 10 years of growing consensus on the benefits of inflation targeting and greater rate-setting autonomy across emerging markets. Read more of this post

Can you trust Facebook with your genetic code?

Can you trust Facebook with your genetic code?

By Christina Farr | VentureBeat.com, Published: October 7

We share everything on Facebook: our family photos, intimate thoughts, relationship woes. Some of us even post our DNA. Thousands of Americans are sharing results of genealogy tests on social media sites like Facebook, even posting their entire genome on GitHub and GenomesUnzipped. But is it safe for patients to share DNA with a private company and then post test results on the Internet? That’s not so clear. Genealogy companies like 23andMe that analyze your genetic data encourage this kind of sharing, and they say that it is safe. For just $99, you can send 23andMe a sample of your DNA, and it will send you a full report, replete with information about your health and ancestry, and give you options to share the data online and connect with people you might be distantly related to. It can also be used by prospective parents to determine the risk that their future offspring will inherit a genetic condition. Read more of this post

Retailers see ‘click and mortar’ as way to beat Amazon

Retailers see ‘click and mortar’ as way to beat Amazon

9:39am EDT

By Emma Thomasson and Dominique Vidalon

PARIS (Reuters) – Traditional stores can take on e-commerce and keep their major role by reinventing themselves faster to best combine shopping in stores and online, top retailers said on Tuesday. Despite the challenge from players like Amazon, 68 percent of retailers say stores remain the most important channel for shoppers and one in three plan to expand their footprint, according to a survey by the Australian Centre of Retail Studies released at a conference in the French capital. Read more of this post

British Invading Again as U.S. TVs Tune In for Sherlock Holmes

British Invading Again as U.S. TVs Tune In for Sherlock Holmes

In the 1960s, the British Invasion brought bowl haircuts and rock-n-roll to U.S. shores with The Beatles and The Rolling Stones. Fifty years on, a new assault is coming, led by iconic U.K. characters featured on TV shows. Time Warner Inc. (TWX)’s HBO, CBS Corp. (CBS)’s Showtime, Netflix Inc. (NFLX) and Hulu LLC are among the cable networks and streaming sites commissioning, co-producing and buying rights to expensive new British dramas, meaning Americans will soon be watching U.K.- made shows featuring everyone from Dracula to Sherlock Holmes. Read more of this post

Are curved, flexible smartphones the next frontier in smartphone innovation?

Are curved, flexible smartphones the next frontier in smartphone innovation?

By VentureBeat.com, Published: October 7

Are curved, flexible smartphones the next frontier in smartphone innovation? LG and Samsung really want to make it so. Both companies are weeks away from announcing smartphones with curved displays, whose plastic substrate should make them more durable and cheaper to produce. LG said today that it’s already started production of its flexible displays, which could appear in a phone called the “LG Flex” as soon as November. Read more of this post

Steak No More in Yeats Country Depicting Scant Recovery: Economy

Steak No More in Yeats Country Depicting Scant Recovery: Economy

On Ireland’s emptiest major shopping street, butcher Keith Clarke is mourning a loss of business. “The fillet steak died a death,” said Clarke, 57, who runs a store on Grattan Street in the town of Sligo on the country’s west coast. His sales have dropped 40 percent since the economy imploded in 2008 and have further to fall, he said. “They’re buying the cheapest cuts now.” Read more of this post

Dilbert’s creator Scott Adams: How to Fail at Almost Everything and Still Win Big: Kind of the Story of My Life; Everything you want out of life is in that bubbling vat of failure. The trick is to get the good stuff out.

How to Fail at Almost Everything and Still Win Big: Kind of the Story of My Life Hardcover

by Scott Adams  (Author)

how to fail... jacket

Everything you want out of life is in that bubbling vat of failure. The trick is to get the good stuff out.
Scott Adams has likely failed at more things than anyone you’ve ever met or anyone you’ve even heard of. So how did he go from hapless office worker and serial failure to the creator of Dilbert, one of the world’s most famous syndicated comic strips, in just a few years? In How to Fail at Almost Everything and Still Win Big, Adams shares the strategy he has used since he was a teen to invite failure in, embrace it, then pick its pocket. No career guide can offer advice that works for everyone. As Adams explains, your best bet is to study the ways of others who made it big and try to glean some tricks and strategies that make sense for you. Adams pulls back the covers on his own unusual life and shares how he turned one failure after another into something good and lasting. Adams reveals that he’s failed at just about everything he’s tried, including his corporate career, his inventions, his investments, and his two restaurants. But there’s a lot to learn from his personal story, and a lot of humor along the way. Adams discovered some unlikely truths that helped to propel him forward. For instance:

• Goals are for losers. Systems are for winners.

• “Passion” is bull. What you need is personal energy.

• A combination of mediocre skills can make you surprisingly valuable.

• You can manage your odds in a way that makes you look lucky to others.

Adams hopes you can laugh at his failures while discovering some unique and helpful ideas on your own path to personal victory. As he writes:

“This is a story of one person’s unlikely success within the context of scores of embarrassing failures. Was my eventual success primarily a result of talent, luck, hard work, or an accidental just-right balance of each? All I know for sure is that I pursued a conscious strategy of managing my opportunities in a way that would make it easier for luck to find me.” Read more of this post

‘Passion Is BS’ And Other Life Advice From Dilbert Creator Scott Adams

‘Passion Is BS’ And Other Life Advice From Dilbert Creator Scott Adams

JENNA GOUDREAU OCT. 7, 2013, 2:27 PM 3,959 3

Despite being a world-famous cartoonist and best-selling author, Scott Adams maintains that he’s failed at just about everything he’s ever tried. But the trick is, only one thing has to work. The creator of Dilbert, the first syndicated comic that focused on the workplace, details his unlikely path to success in an upcoming book “How to Fail at Almost Everything and Still Win Big.” In it, he describes his stalled corporate career, a string of failed business ventures, and his first rejections as a cartoonist. But through those failures, he discovered what it takes to eventually find success. (Hint: It isnot passion.) Adams sat down with Business Insider to discuss his new book and the best advice he ever got. The following has been edited for length and clarity.

Business Insider: You seem to think it’s possible to fail your way to success. How does that work?

Scott Adams: You can’t control luck directly, but you can move from a game with bad odds to a game with good odds. The world is like a reverse casino. In a casino, if you gamble long enough, you’re certainly going to lose. But in the real world, where the only thing you’re gambling is, say, your time or your embarrassment, then the more stuff you do, the more you give luck a chance to find you. If you do one thing and stop, you didn’t give luck a chance to find you. You only need one thing to work. Read more of this post

The world’s first malaria vaccine could be available in as little as three years after British drugmaker GlaxoSmithKline’s candidate treatment passed a major testing milestone

GSK malaria vaccine could be available in three years

The world’s first malaria vaccine could be available in as little as three years after British drugmaker GlaxoSmithKline’s candidate treatment passed a major testing milestone.

By Denise Roland

12:01AM BST 08 Oct 2013

GSK is ready to take the first step in getting the vaccine to market after promising trial results showing it was effective in protecting children and babies from malaria for up to 18 months. The pharmaceuticals giant plans to submit the vaccine to EU regulators next year, which means, if approved, it could be widely available by 2016. The World Health Organisation has already indicated that a policy recommendation for the vaccine, the most advanced treatment anywhere in the world by at least 10 years, could be made by 2015 if it clears regulatory hurdles. Read more of this post

Common nonsense: Commoditised best practice and why we’re getting ‘the basics’ of business wrong

James Thomson Editor

Common nonsense: Commoditised best practice and why we’re getting ‘the basics’ of business wrong

Published 08 October 2013 07:48, Updated 08 October 2013 13:24

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Dr Jules Goddard says many of the practices of “managerialism” date back to 19th-century efforts to get farm workers producing in factories. How many times have you heard a leader – of a business or a sporting team – talk about doing “the basics” right. But what if the way we define “the basics” is all wrong? That’s the question raised by Dr Jules Goddard, a fellow of London Business School who recently visited the Australian Graduate School of Management as its Unilever Distinguished Scholar. Goddard is the co-author of a book calledUncommon Sense, Common Nonsense, which questions whether some of the tenets of Business 101 – such as cost-efficiency, operational excellence and competitive benchmarking – promote a sort of herd thinking that does not make for great leaders or great businesses. He provides the example of the idea of “best practice” which can be heard in boardrooms of all shapes and sizes. As he points out, the idea itself is a little silly. “Every firm in an industry defines best practice in an industry in the same way. But markets do not reward commodities.” Read more of this post

Uncommon Sense, Common Nonsense: Why some organisations consistently outperform others

Uncommon Sense, Common Nonsense: Why some organisations consistently outperform others [Kindle Edition]

Jules Goddard (Author), Tony Eccles (Author)

419f33c2-2f15-11e3-814b-138ad8fa7301_Jules Goddard Uncommon Sense, Common Nonsense

Publication Date: May 3, 2012

This is a book for managers who know that their organisations are stuck in a mindset that thrives on fashionable business theories that are no more than folk wisdom, and whose so-called strategies that are little more than banal wish lists.It puts forward the notion that the application of uncommon sense – thinking or acting differently from other organisations in a way that makes unusual sense – is the secret to competitive success. For those who want to succeed and stand out from the herd this book is a beacon of uncommon sense and a timely antidote to managerial humbug. Read more of this post

Fund managers find responsible investing comes with big risks

October 7, 2013 11:57 am

Fund managers find responsible investing comes with big risks

By Pauline Skypala

Long-term investments to support a low-carbon economy are out of fashion

There is a lot you can do with $34tn, for good or ill. In theory, the $34tn of assets backing the UN’s Principles for Responsible Investment should be invested to take account of environmental, social and governance factors. In practice, it is hard to see what difference the UNPRI is making to the world. On environmental grounds alone, the report from the Intergovernmental Panel on Climate Change suggests investors are either unwilling or unable to push companies they invest in to reduce carbon emissions. Concentrations of greenhouse gases in the atmosphere have risen to levels not seen in “at least the last 800,000 years”, the report says. Read more of this post

Ranking Smart Betas

Ranking Smart Betas

By John Rekenthaler | 10-03-13 | 11:00 AM | Email Article

Is There a Risk Factor?
Michael Edesess has done what few have dared: He has trashed Dimensional Fund Advisors. As evidenced by the title of his book, The Big Investment Lie, Edesess enjoys poking objects with a sharp stick. However, it’s one thing to jab at hedge funds, a rose that long ago lost its bloom. It’s quite another to take on DFA, which has never been more popular, either in reputation or in sales. And take on he does. In the provocatively titled article, “Why DFA’s New Research is Flawed,” which appears in the publication Advisor Perspectives, Edesess accuses DFA of practicing quackery. The company might appear to follow only the most rigorous scientific principles, writes Edesess, as befits its stable of PhDs, its connection with The University of Chicago, and its citations of Gene Fama and Ken French, but in reality it conducts “spurious pseudo-mathematical” analysis that leads to “poorly constructed and poorly presented nonsense.” The company, states Edesess, “has succumbed to a dreadful descent into scientism.” Read more of this post

Here’s why everything Malcolm Gladwell writes is so compelling

Here’s why everything Malcolm Gladwell writes is so compelling

By Adam Grant October 7, 2013

This originally appeared on LinkedIn. You can follow Adam Grant here.

I used to dread going to parties. I stood around struggling with small talk, waiting for an opening to debate about big ideas. That changed 13 years ago, the day I read The Tipping PointSuddenly, everyone wanted to talk about Malcolm Gladwell’s ideas, and I felt right at home. He made social science cool in watercooler chatter, spawning an entire genre of books that blend stories and studies to explain how the world works. He carried me through a decade of dinner parties with Blink and Outliers. With last week’s release of David and Goliath, I’ll be set for a while. Read more of this post

Why so many powerful people think rules are for someone else; People in positions of power tend to think they are entitled to break society’s rules

Fiona Smith Columnist

Why so many powerful people think rules are for someone else

People in positions of power tend to think they are entitled to break society’s rules.

Published 07 October 2013 11:58, Updated 08 October 2013 07:12

The airwaves and social media are throbbing with outrage about politicians claiming allowances for private trips and businesses using bribes to win valuable work. This is the kind of behaviour that most people know they would never get away with – even if they wanted to. What makes it worse, in the mind of the average person, is that the people being exposed are already so privileged and powerful. Tony Abbott can easily afford to fly to Wangaratta for the wedding of a colleague, why would he charge the taxpayer $1094.64 for the trip? Sydney Morning Herald columnist Peter Fitzsimons made a good point over the weekend, when writing about Attorney-General George Brandis charging the taxpayers for the cost of a trip to a radio host’s wedding. Read more of this post

How to handle a major fail

How to handle a major fail

October 8, 2013

Christine Long

So you’ve stuffed up – now what?

Mistakes: we all make them. What really matters is what happens next. If handled well, a cock-up can actually be an opportunity to get closer to a customer. When Ben Crowley, managing director of Bulk Nutrients started his supplements company, he didn’t want cheap to mean nasty. If you can contact the person to let them know that there’s been a problem before they even get a chance for it to come up on their radar, you will have happier customers.  “My philosophy from the start has always been that while our prices are extremely competitive, cheap pricing does not have to mean a compromise on service.” So if an order goes pear-shaped, as it did recently, the company swings into rapid response mode. Read more of this post

The danger of a rush of power to the head; There are numerous perils when business leaders allow autocratic tendencies to take over

October 7, 2013 4:14 pm

The danger of a rush of power to the head

By Andrew Hill

There are numerous perils when business leaders allow autocratic tendencies to take over

Silvio Berlusconi and Jack Ma do not have much in common. The 77-year-old Italian politician is at the end of his leadership path; at 49, the Chinese founder of ecommerce group Alibaba may be barely halfway along it. Yet both have tested, or are testing, the limits of autocracy. One has determinedly clung to power over nearly 20 years in Italian politics; the other is trying to embed control of Alibaba through a core “partnership” of shareholding senior executives after the Chinese company’s public listing. My message to Mr Ma: be careful what you wish for. Read more of this post

How Good Management Stifles Breakthrough Innovation

How Good Management Stifles Breakthrough Innovation

by Markus Lorenz  |   8:00 AM October 7, 2013

We hear a lot these days about how big companies fail to innovate, but the truth is more complicated. A lot of companies excel at developing better products, yet these improvements are incremental. They’re not the breakthrough offerings that can jump-start growth and profitability. And companies’ success at cranking out these enhancements hampers them from getting better at the radical projects. If you closely analyze unsuccessful attempts at developing breakthrough products, perhaps the most common trouble you find is not one of the usual suspects, such as lack of top-management commitment. Instead, you’ll see that efficiency-minded project managers are inadvertently discouraging the explorations – and therefore the learning – that make radical ideas practical. Read more of this post

Entrepreneur, Fire Thyself

Entrepreneur, Fire Thyself

by Kerrie MacPherson  |   2:00 PM October 7, 2013

When entrepreneurs first start their businesses, they are usually involved in everything: running operations, keeping the books, and making sales calls. But as a company grows, one of the smartest things an owner can do is to fire herself from role after role. Letting go of anything critical to business outcomes is a challenge, but successful entrepreneurs have all learned to replace themselves – and serial entrepreneurs even develop it as a skill. Why be in a hurry to hand off important work? By building a team to handle operational responsibilities, entrepreneurs can find more time to focus on strategic priorities and even bigger goals. Read more of this post

Public speaking, private fears; As giving a good talk becomes more important, experts offer advice on coping with stage fright

October 7, 2013 4:34 pm

Public speaking, private fears

By Rhymer Rigby

The comedian Jerry Seinfeld once joked about a study that suggested people’s number one fear was public speaking: “Go to a funeral, you’re better off in the casket than doing the eulogy.” There is no shortage of research suggesting that the fear of public speaking – otherwise known as glossophobia – enjoys a prominent place in most hierarchies of dread. “It is significantly outside the average person’s comfort zone,” says Michael Crom, chief learning officer of Dale Carnegie Training. “You need to be prepared for anything.” He recalls giving a talk to a medical conference: “I was the last speaker. It was late and the person before me ran over and they were starting to shut things down. So I suddenly had no PowerPoint or visuals.” Read more of this post

Business Models for an Era of Innovation Glut

Business Models for an Era of Innovation Glut

by Alistair Davidson | Oct 7, 2013

It seems that innovation today goes to the company that simply says that its product or service is “innovative.” The real problem for the client or consumer, is that each supposedly new innovation has a “me too” look. As this author writes, knowing your market and differentiating sharply on value will enable your product or service to stand out in the crowd. He describes the steps to take in this article

Some research on innovation that succeeds suggests two particularly important insights: First, the single largest predictor of new product success offers a differentiated high-value product/service. Second, the single largest predictor of new product failure is inadequate market research and customer knowledge. (Cooper, Robert: Winning at New Products, Basic Books, Fourth Edition, 2011)  Read more of this post

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