The ski bums who understood the bottom line; how two friends build the global brand Fat Face

January 20, 2014 5:57 pm

The ski bums who understood the bottom line

By Lina Saigol and Andrea Felsted

Being a ski bum isn’t always a slippery slope.

For Tim Slade and Jules Leaver, it led them to establish an active casual wear clothing company recognisable across the globe. It all began in 1988 in the French ski resort of Méribel, where the two self-confessed ski bums were hanging around on the slopes and avoiding real work. But, finding themselves in need of cash, the pair started printing sweatshirts and fleeces with the slogan ‘Méribel ‘88’, which they planned to sell out of their rucksacks, allowing them to fund their winter hobby. Read more of this post

Is Sherwin-Williams a speciality chemical maker or a vertically integrated building supplies company? The distinction makes a big difference to how the shares are valued

January 20, 2014 4:06 pm

Sherwin-Williams: rosy picture

If US paint company must give up acquisition plan, that looks like good news for shareholders

Painting by numbers is not child’s play in the case of Sherwin-Williams. The figures are equivocal for the US paint company. Is it a speciality chemical maker or a vertically integrated building supplies company? The distinction makes a big difference to how the shares are valued. Read more of this post

What eating tells you about people around you

SoShiokMon, Jan 20 2014

What eating tells you about people around you

Do you know you can tell what a person is like just by having a meal with them? According to a report by Huffington Post, people’s eating habits say more about them than they voluntarily disclose. Like that person who needs to know what everyone else is ordering before deciding on what to eat for themselves. Sounds familiar? Read more of this post

30 Lessons For Living

30 Lessons For Living

by SHANE PARRISH on JUNE 18, 2013

Who are the wisest Americans and what can they teach us?

We’re all interested in finding the right partner, staying with them, and (maybe even) raising children who turn out well.

Karl Pillemer wrote 30 Lessons for Living: Tried and True Advice from the Wisest Americans to provide us with practical advice from the experts about how to make the most out of life. (I had the chance to interview Karl as well.) Read more of this post

Why do we have such a problem with being alone? Personal freedom has never been more celebrated, yet we are terrified of being alone, and regard those who choose to be so with suspicion. Sara Maitland on the joy of solitude

Why do we have such a problem with being alone?

Personal freedom has never been more celebrated, yet we are terrified of being alone, and regard those who choose to be so with suspicion. Sara Maitland on the joy of solitude

Sara Maitland

The Guardian, Saturday 11 January 2014

I live alone. I have lived alone for more than 20 years now. I do not just mean that I am single – I live in what might seem to many people to be “isolation” rather than simply “solitude”. My home is in a region of Scotland with one of the lowest population densities in Europe, and I live in one of the emptiest parts of it: the average population density of the UK is 674 people per sq mile (246 per sq km). In my valley, we have (on average) more than three sq miles each. The nearest shop is 10 miles away, and the nearest supermarket more than 20. There is no mobile-phone connection and very little through-traffic uses the single-track road that runs a quarter of a mile below my house. On occasion, I do not see another person all day. I love it. Read more of this post

4 Little-Known Reasons Martin Luther King Was An Amazing Leader, Human: He Was a Systems Thinker

4 LITTLE-KNOWN REASONS MARTIN LUTHER KING WAS AN AMAZING LEADER, HUMAN

YOU ALREADY KNEW THAT TODAY IS THE 85TH BIRTHDAY CELEBRATION OF MARTIN LUTHER KING. BUT YOU DIDN’T KNOW THE ANGER, HUMOR, AND DEPTH OF INSIGHT IN THE MAN HIMSELF.

BY DRAKE BAER

Martin Luther King Jr. seems more legend than man. But if we peer into Dr. King’s life, we can see that he was more and less than myth: a person with interior complexity and exterior grace beyond what a textbook can tell you. So let’s get to know his intense, hilarious, and prescient sides below. Read more of this post

Malaysia’s God problem erupts, tarnishing moderate image

Malaysia’s God problem erupts, tarnishing moderate image

Sun, Jan 19 2014

By Stuart Grudgings

KUALA LUMPUR (Reuters) – The Sunday Mass at Our Lady of Lourdes Catholic church seems like a model for the multicultural, tolerant Malaysia that its government likes to present to the outside world. Read more of this post

From selling discarded golf balls and washing cars to online retail heavyweight: the story behind $315 million Ruslan Kogan

From selling discarded golf balls and washing cars to online retail heavyweight: the story behind $315 million Ruslan Kogan

January 20, 2014

Shane Green

An immigrants’ son done good, Ruslan Kogan has established himself as one of Australia’s top young business guns, writes Shane Green.

Ruslan Kogan remembers the challenge of the canal. As a child growing up in the public housing commission flats of Elsternwick in Melbourne’s south-eastern suburbs, the canal – or more precisely the ability to jump it – held the promise of a better, more efficient way. Bounding the canal meant a faster trip to primary school, compared to the longer, more routine journey via the bridge. “Your coming of age in the Elsternwick commission flats was when you were able to jump the canal,” says Kogan, “and nobody jumps it on their first go.” Read more of this post

How to Nurture a Child’s Special Abilities

How to Nurture a Child’s Special Abilities

It’s easy to turn athletic gifts into something negative

KATY MCLAUGHLIN

Updated Jan. 18, 2014 9:15 p.m. ET

I went into labor with my first child, Paul, during the 2006 World Cup. We watched two games as I waited to give birth, my husband, Alejandro, on the edge of my hospital bed, breathless with excitement. He was really looking forward to the baby, too. Read more of this post

MOE reminds schools to be vigilant about student safety during PE

MOE reminds schools to be vigilant about student safety during PE

By Ng Jing Yng
POSTED: 20 Jan 2014 07:54
The Ministry of Education (MOE) has issued a circular to schools reminding them to stay vigilant about student safety during Physical Education lessons and co-curricular activities (CCAs), after two students died last week during PE lessons.

SINGAPORE: The Ministry of Education (MOE) has issued a circular to schools reminding them to stay vigilant about student safety during Physical Education lessons and co-curricular activities (CCAs), after two students died last week during PE lessons. Read more of this post

Swindlers Use Telephones, With Internet’s Tactics

Swindlers Use Telephones, With Internet’s Tactics

By NICK WINGFIELDJAN. 20, 2014

SEATTLE — Phone swindles are practically as old as the telephone itself. But new technology has led to an onslaught of Internet-inspired fraud tactics that try to use telephone calls to dupe millions of people or to overwhelm switchboards for essential public services, causing deep concern among law enforcement and other groups. Read more of this post

Why You Need To Go Ahead And Ditch The Mantra ‘Do What You Love’

Why You Need To Go Ahead And Ditch The Mantra ‘Do What You Love’

MIYA TOKUMITSUSLATE
JAN. 19, 2014, 4:31 PM 11,967 17

New college graduates often get told to “do what they love.”

“Do what you love. Love what you do.”

The command is framed and perched in a living room that can only be described as “well-curated.” A picture of this room appeared first on a popular design blog and has been pinned, tumbl’d, and liked thousands of times. Though it introduces exhortations to labor into a space of leisure, the “do what you love” living room is the place all those pinners and likers long to be. Read more of this post

Australian scientists microchip bees to map movements, halt diseases

Australian scientists microchip bees to map movements, halt diseases

Wed, Jan 15 2014

By Thuy Ong

SYDNEY (Reuters) – Australian scientists are gluing tiny sensors onto thousands of honey bees to track their movements in a trial aimed at halting the spread of diseases that have wiped out populations in the northern hemisphere. Read more of this post

Carpe diem and YTT

2014-01-20 17:35

Carpe diem and YTT

Lee Sun-ho
A common Latin saying is “carpe diem.”  The phrase means “seize the day” as an end-of-the-year slogan or a New Year’s life resolution aimed at achieving something like the dream for a galloping blue horse. It is used as a motto to enjoy the pleasures of the moment without much concern for the future.
Carpe diem is taken from a poem published in 23 B.C. by the Latin poet Horace (65~8 B.C.). In Horace, the phrase is part of a longer credo, which can be translated literally as, “Pluck the day and put little trust in tomorrow.”  The ode says that the future is unforeseen and that one should not leave to chance future happenings, but rather one should do all one can today to make their future better. Read more of this post

Road to redemption: How McDonald’s’ once down-and-out brand recaptured hearts and minds

Road to redemption: How McDonald’s’ once down-and-out brand recaptured hearts and minds

Dan Ovsey | January 21, 2014 7:00 AM ET
When John Betts took over McDonald’s Canada in 2008 after successfully refurbishing the chain’s breakfast markets in the U.S., the relevance of the fast-food brand to Canadians was rapidly dwindling. Since then, the company has seen a grand renaissance among breakfast patrons spurred by the introduction of McCafe. That success allowed the company to overhaul the operations of more than 1,000 Canadian restaurants, add a higher quality, premium line to its menu and remodel its dining rooms to attract younger consumers. Mr. Betts recently sat down with FP’s Dan Ovsey at the chain’s new two-story, 9,000 square foot restaurant on Toronto’s Yonge Street to discuss the evolution of the brand’s transformation and how it was achieved without runaway costs, Mr. Betts’ collaboration with owner-operators to make operational improvements, the chain’s nominally shifting consumer demographics, and the company’s move toward more transparent customer service. Following is an edited transcript of their conversation. Read more of this post

‘Nobody’s bitch’: why growing up poor shaped Ruslan Kogan as an entrepreneur

Caitlin Fitzsimmons Online editor

‘Nobody’s bitch’: why growing up poor shaped Ruslan Kogan as an entrepreneur

Published 20 January 2014 13:09, Updated 21 January 2014 09:05

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In 2013 maverick retailer Ruslan Kogan was ranked fourth on the BRWYoung Rich list, with an estimated fortune of $315 million, aged just 30. He still works 70 to 100 hours a week and says he isn’t much interested in spending his money, though he does own a BMW M6 and a nice apartment on St Kilda Road in Melbourne overlooking Albert Park Lake. Read more of this post

Governing Misvalued Firms

Governing Misvalued Firms

Dalida Kadyrzhanova, Matthew Rhodes-Kropf

NBER Working Paper No. 19799
Issued in January 2014
Equity overvaluation is thought to create the potential for managerial misbehavior, while monitoring and corporate governance curb misbehavior. We combine these two insights from the literatures on misvaluation and governance to ask ‘when does governance matter?’ Examining firms with standard long-run measures of corporate governance as they are shocked by plausible misvaluation, we provide consistent evidence that firm performance is impacted by governance when firms become overvalued – overvaluation causes weaker performance in poorly governed firms. Our findings imply that firm oversight is important during market booms, just when stock prices suggest all is well.

Powerful Independent Directors

Powerful Independent Directors

Kathy Fogel, Liping Ma, Randall Morck

NBER Working Paper No. 19809
Issued in January 2014
Shareholder valuations are economically and statistically positively correlated with more powerful independent directors, their power gauged by social network power centrality measures. Sudden deaths of powerful independent directors significantly reduce shareholder value, consistent with independent director power “causing” higher shareholder value. Further empirical tests associate more powerful independent directors with fewer value-destroying M&A bids, more high-powered CEO compensation and accountability for poor performance, and less earnings management. We posit that more powerful independent directors can better detect and counter managerial missteps because of their better access to information, their greater credibility in challenging errant top managers, or both.

Major Chinese cities losing their allure for new graduates

Major Chinese cities losing their allure for new graduates

By He Dan
China Daily/Asia News Network
Tuesday, Jan 21, 2014

CHINA – After much consideration, Ying Hanlu decided against finding work in Beijing and Shanghai and instead returned home after graduating in the summer. “My boyfriend and I were having a hard time with a long-distance relationship, so after he found a job in our hometown I followed,” she said. Read more of this post

Former Jianlibao chairman Zhang Hai flees China

Former Jianlibao chairman Zhang Hai flees China

Staff Reporter

2014-01-21

Former Jianlibao chairman Zhang Hai. (Photo/CNS)

Officials in southern China’s Guangdong province have confirmed that Zhang Hai, the former chairman of energy drink manufacturer Jianlibao Group, has fled the country after submitting fabricated evidence to receive a reduced sentence, reports the Shanghai-based National Business Daily. Read more of this post

Crunch Escalates as Money Funds Rival Shadow Banks: China Credit

Crunch Escalates as Money Funds Rival Shadow Banks: China Credit

A doubling in China’s money-market funds in the past six months is draining bank deposits and raising the risk of financial failures during cash crunches, according to Fitch Ratings. Read more of this post

China’s reopened IPO highway proves a bumpy ride

January 20, 2014 4:08 am

China’s reopened IPO highway proves a bumpy ride

By Josh Noble in Hong Kong

In China initial public offerings are a bit like London buses – you wait 14 months, and then 50 come along at once.

On Friday the first new listed company since November 2012 – Neway Valve – made its trading debut in Shanghai. The stock rose more than 40 per cent, an encouraging sign for the hundreds of other new listings that are expected through the year. Read more of this post

China’s growth pattern mirrors other economies in Asia

January 20, 2014 3:12 pm

China’s growth pattern mirrors other economies in Asia

By Jamil Anderlini in Beijing

When analysts talk about the past three decades of Chinese economic growth it is often in reverential, quasi-religious terms. China’s 35 years of 9.7 per cent average annual expansion “is a miracle unprecedented in human history”, says Justin Lin Yifu, who was chief economist at the World Bank from 2008 to 2012. Read more of this post

China’s 2013 New Home Sales to Exceed $1 Trillion, Record High

China’s 2013 New Home Sales to Exceed $1 Trillion, Record High

China’s new home sales last year likely exceeded $1 trillion for the first time as property prices in cities the government considers first tier surged in the absence of more nationwide property curbs. Read more of this post

China Workforce Slide Robs Xi of Growth Engine

China Workforce Slide Robs Xi of Growth Engine

China’s second straight annual drop in its working-age population is robbing President Xi Jinping of an engine of three decades of growth, underscoring the need to close the gap between his achievements and ambitions. Read more of this post

Shine comes off southeast Asia’s banks

January 19, 2014 7:22 am

Shine comes off southeast Asia’s banks

By Paul J Davies in Hong Kong

The shine is coming off southeast Asia – the golden child of banking after the global financial crisis – as valuations tumble and competition for funding heats up across the region. Read more of this post

China Should Allow Wealth Product Defaults, Deutsche Bank Says

China Should Allow Wealth Product Defaults, Deutsche Bank Says

China should allow defaults of some wealth-management and trust products to reduce incentives for financial institutions to sell risky products and maintain stability in the financial system, Deutsche Bank AG (DBK) said. Read more of this post

China Money Market Rates Soar; Financial System Shows Fresh Signs of Stress Ahead of Lunar New Year Holiday

China Money Market Rates Soar

Financial System Shows Fresh Signs of Stress Ahead of Lunar New Year Holiday

SHEN HONG

Updated Jan. 20, 2014 4:43 a.m. ET

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SHANGHAI—China’s financial system is showing fresh signs of stress with short-term borrowing costs for banks soaring on heavy demand for cash ahead of the Lunar New Year holiday and rising worries over the vast shadow-banking sector. Read more of this post

China Billionaire’s Steel Bond Fall Flags Industry Smog Woes

China Billionaire’s Steel Bond Fall Flags Industry Smog Woes

Bonds of Nanjing Iron & Steel Co. (600282), partly owned by Chinese billionaire Guo Guangchang, are set for their worst month on record as concern mounts the government’s campaign to reduce smog and overcapacity may exacerbate losses. Read more of this post

China abandons failed cotton stockpiling programme

January 20, 2014 8:11 am

China abandons failed cotton stockpiling programme

By Lucy Hornby in Beijing

China is abandoning a stockpiling programme that has seen the nation run up an outsized hoard of cotton that it must now sell at a loss, pledging instead to switch to a subsidy system for cotton farmers this year. Read more of this post