Guangzhou newspaper demands release of Zoomlion whistleblower journalist who wrote articles questioning the accounting of the Chinese construction machinery company

Xin Kuai Bao demands release of Zoomlion whistleblower Chen Yongzhou

Staff Reporter 2013-10-23

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“Please release him”: the front page of the Xin Kuai Bao on Wednesday. (Internet photo)

The Guangzhou-based Xin Kuai Bao newspaper has taken a courageous stance by calling on public security authorities to release one of its journalists after he was arrested for writing articles questioning the finances of Chinese construction machinery company Zoomlion. Chen Yongzhou was arrested on Oct. 19 by public security officials from Changsha, the Hunan provincial capital where Zoomlion is based. Chen had written 15 articles about Zoomlion for Xin Kuai Bao, including 10 between September last year and June. A story published on May 27 this year accused Zoomlion of improper accounting methods, forcing the company to halt trading of its shares in Hong Kong and Shenzhen despite slamming the allegations as “distorted” and “misleading.” A Zoomlion spokesperson confirmed that the construction and sanitation equipment manufacturer filed a complaint against Chen with local police last week. On Oct. 23, Xin Kuai Bao’s front page featured an article defending Chen and with the headline “Please release him” in giant characters. In the article, the paper said that it had carefully combed through the facts in each of Chen’s 15 articles on Zoomlion and only discovered one minor factual error. The paper also cited other media chiefs in support of Chen, some of whom pointed out that if Zoomlion has a problem with Chen’s articles the company should have filed a civil suit against the paper rather than calling for public security officials to arrest the journalist. Chen’s wife told reporters that her husband received a phone call from police on the morning of Oct. 17, saying they wanted him to clarify some matters. He went to the local police station the next morning accompanied by his wife and was confronted by officers from Changsha, who produced a piece of paper outlining the crimes he was accused of before quickly taking him away. She said she received a call from him 36 hours later telling her that he had been arrested for damaging Zoomlion’s commercial reputation and asking for her to retain a lawyer. She said she has not seen him since.

GoPro Captures Unreal Backflip Over A 72-Foot Canyon At Red Bull’s Mountain Bike Rampage

GoPro Captures Unreal Backflip Over A 72-Foot Canyon At Red Bull’s Mountain Bike Rampage

GEOFFREY INGERSOLL OCT. 23, 2013, 12:14 AM 3,555 3

Mountain Biker Kelly McGarry wowed onlookers and announcers alike when he busted off a truly gnarly back flip over the 72-foot canyon gap at this year’s Red Bull Rampage, held in Utah from Oct. 11 – 13. One commenter on video wrote: “I’m a nervous wreck just watching it from a recliner.” For his efforts, McGarry pulled in the silver medal. He also pulled in the Red Bull Bike People’s Choice Award from fans watching online. “Last night I was freaking out,” McGarry told reporters, “wondering if I should do it. But I had the speed, it felt right, so I just sent it!” Riders are judged by 4 criteria:

1) Fluidity and Style
2) Air and Amplitude
3) Tricks
4) Line Choice

The gold went to Kyle Strait, the first two-time gold winner in the series. (Aside from the People’s Choice and the silver), the kudos go McGarry, who strapped a Go Pro to his dome.

Warren Buffett Nails It On The Importance Of Luck In Life

Warren Buffett Nails It On The Importance Of Luck In Life

CULLEN ROCHEPRAGMATIC CAPITALISM OCT. 23, 2013, 4:55 AM 11,624 23

I liked these thoughts from Warren Buffett on Bloomberg today:

WARREN BUFFETT: Well I came up with that a long, long time ago to describe the situation that – I was lucky. I was born in the United States. The odds were 30 or 40-to-1 against that. I had some lucky genes. I was born at the right time. If I’d been born thousands of years ago I’d be some animal’s lunch because I can’t run very fast or climb trees. So there’s so much chance in how we enter the world. And –

LIU: And you were always aware to make sure your children and their grandchildren, and your grandchildren would be grounded.

WARREN BUFFETT: Yes. And we’re not – how you came out of the womb has really nothing to do with what kind of person you are. You decide what kind of person you’re going to be. It does decide whether maybe you never have to do an item of work in your life and maybe determine whether you’re fighting uphill all of the time, but where in my life, in my eyes is we’re all created equal, and but we don’t all have an equal opportunity by a longshot. And my kids really work every day in trying to even up the scorecard.

Luck plays a big role in life.  But you also get to choose how you’re going to use that luck and whether you want to try to make more of your own luck.

Three Things that Actually Motivate: (1) Mastery: Help people develop deep skills; (2) Membership: Create community by honoring individuality; (3) Meaning: Repeat and reinforce a larger purpose

Three Things that Actually Motivate Employees

by Rosabeth Moss Kanter  |   10:00 AM October 23, 2013

The most motivated and productive people I’ve seen recently work in an older company on the American East Coast deploying innovative technology products to transform a traditional industry. To a person, they look astonished when I ask whether their dedication comes from anticipation of the money they could make in the event of an IPO. Newcomers and veterans alike say they are working harder than ever before. Their products are early stage, which means daily frustrations as they run through successive iterations. Getting them to market demands more than corporate systems can handle, so they must beg for IT upgrades, recruit and budget themselves, and even take on sales responsibilities to explain innovations to customers — which adds to the workload. So much pressure, yet they don’t seem to care about the money? Read more of this post

China money rates shoot up as tightening worries rise

China money rates shoot up as tightening worries rise

1:52am EDT

* 7-day repo contract rise more than 1 percentage point

* Beijing is concerned with inflation, property prices

* Intervention to hold back yuan adding liquidity

* Traders will watch c.bank ops on Thurs for more signals

By Pete Sweeney

SHANGHAI, Oct 23 (Reuters) – China’s primary short-term money rates rose on Wednesday in a delayed reaction to signals from regulators they are considering tightening liquidity to tamp rising inflationary pressure. A policy adviser to the People’s Bank of China (PBOC) told Reuters on Tuesday that the authority may tighten cash conditions in the financial system to address inflation risks. Read more of this post

Panic grips Union govt as onion price hits Rs 100 a kg

Panic grips Union govt as onion price hits Rs 100 a kg

Dipak Kumar Dash & Tushar Pawar, TNN | Oct 23, 2013, 04.50 AM IST

NEW DELHI/NASHIK: With onion prices continuing to be on fire in the run-up to crucial state polls, an embattled government scrambled to stem the surge but appeared to lack a coherent plan. As onion prices, defying the sharp dip in the rates in the country’s biggest wholesale market at Lasalgaon in Nashik, continued to spiral and touched the Rs 100 per kg mark in the city and elsewhere, panic in the government was obvious. Food minister K V Thomas rushed to Maharashtra as the Congress-ruled state accounts for 28% of the total onion production and can help tame prices by cracking down on hoarders. Read more of this post

The disease that killed a million piglets in China has spread to the US, and no one knows why

The disease that killed a million piglets in China has spread to the US, and no one knows why

By Heather Timmons 12 hours ago

America’s pork industry has been gripped by an outbreak of porcine diarrhea since mid-May, the first appearance of the condition in North America. US farmers havereported 768 cases of the disease, known as porcine epidemic diarrhea virus (PEDV), through the first week of October, which implies that many more thousands of animals could be affected. Although the disease is not transferable to humans, it has been devastating for the US pork industry. It causes severe “watery diarrhea and vomiting in nursing pigs,” according to information from the US’s National Pork Board. Almost all the piglets who get the disease die because of it, and farmers are reportedly filling “wheelbarrows of dead piglets.” Read more of this post

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