How cricket has lost its working class tradition; The game is better for having its working-class heroes

Class and cricket

A lower-order collapse

Mar 12th 2013, 19:54 by B.R.

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IT USED to be said that when England needed a fast bowler, all it had to do was whistle down a Nottinghamshire coal mine. Harold Larwood (pictured), the most fearsome bowler of his generation, was destined for a life in the pits before he was spotted while playing for his village team and offered a contract by Nottinghamshire in 1923. Nuncargate, the tiny mining village in which he was born, unearthed four further England cricketers, including Bill Voce, who shared the new ball with Larwood during the 1932-33 bodyline tour of Australia.

England’s great batsmen, too, often came from humble beginnings. Jack Hobbs, one of the country’s most revered players, grew up in poverty in Cambridge. Herbert Sutcliffe’s father was a pub landlord in Yorkshire. Indeed, from Fred Trueman, the first bowler to take 300 Test wickets, whose father spent time in the coal mines, to Ian Botham and Freddie Flintoff, working-class heroes have always bestrode the game.

This is not to say that English cricket has not been subject to class division. On the contrary, it is enshrined in its history. The first recorded games, in the 17th and 18th centuries, were often between teams playing under the patronage of the landed gentry, such as the Second Duke of Richmond, who employed local farm hands in fixtures convened for toffs to bet on. Until 1962, England’s first-class cricketers were formally divided into two categories, gentlemen and players—the nobs who could afford to play cricket as amateurs, versus working-class professionals who needed to be paid. At Lord’s, the home of the game, teammates entered the field through separate gates dependent on this distinction. There was even an annual fixture between the two which was, for a while, the highlight of the domestic season (and in which the professionals usually prevailed). It was not until 1952 that a non-gentleman, Len Hutton, captained the Test side.

Class is even enshrined in the game’s aesthetic. Some shots—particularly front foot drives—are to this day considered more elegant, to be purred over by purists. This may be because they are also associated with the upper classes. In “More Tales from a Long Room”, a satire of the game, Peter Tinniswood relates the story of an aristocrat who undertakes “a missionary crusade to the dourlands of the north to preach to the working classes his fervent belief that the cover drive, the late cut and the wristy leg glance were not the sole province of the upper classes.” In contrast, brutal, clubbing back foot shots, such as pulls and cuts, were considered professionals’ shots, born of those who cared little about art and much about efficacy.

Yet if there was once a class battle in cricket, it is on the verge of being conceded. Today, fewer working-class players reach the top of the English game than probably at any time in the sport’s history. If one takes a very broad measure of class—whether a player attended a state or private school—the majority of England’s Test cricketers since the second world war could be said to have come from relatively modest backgrounds (see chart). In 1993, nine of the starting XI who played in the first Test against Australia had been to a state school. By the 2009 series, only half did (one, Monty Panesar, attended both types). In the last Test match England played, against New Zealand last week, that proportion had gone down to a third. Read more of this post

Tinkering key to innovation

Tinkering key to innovation

Created: 2013-3-16

Author:Wang Yong

DESPITE the global success of Apple iPhones, the US suffers a stasis in technological innovation – at least in the eye of American journalist Alec Foege, author of “The Tinkerers: The Amateurs, DIYers, and Inventors Who Make America Great.” While Thomas Edison (1847-1931) tinkered with projects in an unstructured way, the author says that a modern-day American would more often than not be enslaved by standardized test scores that leach creativity. American children today are also less creative, observes the author, who believes that many busy parents deprive their children of any opportunities for unstructured play – the setting where taking old things apart and creating new things used to be part of growing up. Partly because of this rigid education that suppresses the spirit and skills of tinkering, the US is no longer the biggest producer of engineers and scientists. As the author points out, it has fallen behind many other countries in filing new patents. “True tinkering is all about risk and unusual behavior. The far-flung fanaticism that world-class tinkering requires rarely thrives in an institutional setting,” says the author. Because the education system cannot be overhauled any time soon – most universities and colleges in America still survive and will continue to survive on mass-producing standard graduates and diplomas – one way to improve the nation’s creative spirit and capacity is for the government and corporations to fund pure experiments.  Read more of this post

Dr Reddy’s Laboratories Founder Anji Reddy Dies; Considered as a pioneer of reverse engineering, Dr Reddy made significant contributions in making pharmaceutical products globally competitive and also affordable to the common man

March 15, 2013, 12:50 p.m. ET

Dr Reddy’s Laboratories Founder Anji Reddy Dies

By DHANYA ANN THOPPIL

BANGALORE–K. Anji Reddy, the founder and chairman of drug maker Dr. Reddy’s Laboratories Ltd., 500124.BY +0.29% died Friday in the southern Indian city of Hyderabad. Mr. Reddy was ailing for some time, the company said in a statement, but didn’t give details. Mr. Reddy founded Dr. Reddy’s Laboratories in 1984. The Hyderabad-based company, which is listed in India and on the New York Stock Exchange, is now one of India’s largest drug makers.

Founder chairman of Dr Reddy Laboratories Anji Reddy dead

Indo-Asian News Service | Updated: March 15, 2013 21:20 IST

HyderabadKallam Anji Reddy, the founder chairman of Dr Reddy’s Laboratories, died today at a hospital in Hyderabad following brief illness. He was 73. He is survived by wife Samrajyam, daughter Anuradha and son K Satish Reddy, who is managing director and COO of the pharma giant. One of the most well-known faces of Indian pharma industry, Dr Reddy was suffering from lung disorder for last few months and was admitted to a private hospital 10 days ago. The technocrat-turned-entrepreneur, who started Reddy’s Laboratories with a meagre outlay of Rs. 25 lakh in early 1980s, transformed it into $1.6 billion global entity. Considered as a pioneer of reverse engineering, Dr Reddy made significant contributions in making pharmaceutical products globally competitive and also affordable to the common man. Read more of this post

Tan Sri Andrew Sheng: The wonton vs sushi story; So what is the right business model for small businesses in the age of massive social and technological change?

Saturday March 16, 2013

The wonton vs sushi story

Think Asian by ANDREW SHENG

MY friends know that I am a noodle foodie. Everywhere I go throughout Asia, I try the noodles, from laksa in Penang, pad thai in Bangkok, beefpho in Hanoi to mohinga in Yangon; each bowl showcases the culture and flavour of the place, through the different texture, spices, and taste. Somehow, I remember a place by the quality of its noodles.

There is nothing quite like the great wonton and noodle shops in Hong Kong. They are not fancy places, but have been in the same location for ages, and have become beloved local institutions with lifetime customers. In the past few months. several historic Hong Kong noodle shops and cafes have closed from rising rents. The closure of the 42-year-old Lei Yuen Congee Noodles in Causeway Bay this January made the South China Morning Post. Hundreds of tourists and residents flocked to the shop in its last days, waiting in hour-long queues at lunch time for their last chance to eat there.

Rising rent in Hong Kong is nothing new. Hong Kong competes with Tokyo as one of the world’s most expensive real estate markets. Yet Tokyo is full of small ramen and sushi shops that have been around for decades brought to international attention recently by the film Jiro Dreams of Sushi about a dedicated Michelin star sushi shop in the Tokyo subway. Tokyo sushi shops also have to pay the high rent demanded by landlords, but perhaps their landlords realise that Japanese culture is poorer if there is no local sushi and ramen shop around. Read more of this post

Information innovator

Saturday March 16, 2013

Information innovator

By JENNIFER LO

INFORMATION technology (IT) is all about innovation. Vish Iyer can’t agree more.

Mobility, social media and big data are all hot-button topics. Cloud computing frees up people from the desk, so an IT system can be managed even on the road. “For a bank, it could be payment via Internet banking or mobile phone,” says the high-flying corporate executive.

“For an insurance company, it could mean enabling an agent to get quotations and conduct transactions on his or her mobile.” For an airline, pilots no longer carry huge bags with heavy operating manuals. “We put that on an iPad,” he adds.

Few would believe the president for Asia Pacific at Tata Consultancy Services (TCS) has neither training in IT nor a background in engineering. He learns by doing.

Born and raised in Kolkata around the time when India’s first computer arrived, Iyer graduated from St Xavier’s College, one of the city’s best-known educational institutions with a major in taxation and economics.

Now the head of the largest service provider in the Asia-Pacific region based in Singapore, he manages 10,000 employees in 13 countries including Australia, Japan, China and South Korea.

The 45-year-old Indian company, whose clients include Microsoft andING Group, is the provider of IT services and business solutions, with a turnover exceeding US$12bil and market capitalisation of US$45bil on the Bombay Stock Exchange.

It is part of the Tata group, India’s largest conglomerate in seven sectors including communications, engineering and energy, with a revenue of more than US$100bil in the fiscal year 2011-12. Read more of this post

Money Advice for People in Boom-or-Bust Fields; Jay Reynolds borrowed heavily to buy the company in 1980. He then struggled for nearly two decades as demand suffered until the business finally revived

March 8, 2013

Money Advice for People in Boom-or-Bust Fields

By PAUL SULLIVAN

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Jay Reynolds, president and chief executive of Rod Ric Drilling in Midland, Tex., borrowed heavily to buy the company in 1980. He then struggled for nearly two decades as demand suffered until the business finally revived. 

MORE financial advisers are focusing on a single clientele, say, doctors or athletes. That would seem to make sense, since concentrating on a single group of people gives advisers greater insight into the needs of those people. And if the advisers do a good job, they will get that client’s colleagues as clients.

Advisers can, of course, organize their practices in other ways. Many focus on a dollar amount. They promise to give good advice to any client with more than $1 million, $5 million or more, regardless of where that money came from. By taking this tack, they are also eliminating the need to have more, less wealthy clients.

And some advisers organize a practice around a life event, like retirement or divorce. But what does a divorced woman with three young children and a deadbeat former husband have in common with Elaine Wynn, who received nearly $1 billion when she divorced Steve Wynn, the casino mogul?

Still, is managing money for a group of lawyers, say, any different from managing money for another high earner? A dollar is a dollar, after all. Or is it just a way for advisers to market themselves? Read more of this post

What Should Business Schools Teach Managers?

What Should Business Schools Teach Managers?

Martin Parker University of Leicester

Gordon Pearson Keele University

Spring 2013
Business and Society Review, Vol. 118, Issue 1, pp. 1-22, 2013 

Abstract: 
This article is the fourth dialogue in a series in which two characters, a pro‐business experienced manager and a critical management academic idealist, debate contemporary management. In this dialogue, the discussion concerns the curriculum of business and management courses. Though as usual there is little agreement between the two participants, the discussion clearly shows just how difficult it will be to change business education without also changing the market position of business schools. Other topics concern the sort of economic assumptions embedded in much of the curriculum, and the relationship between practical skills and political descriptions of capitalism.

Innovator: Martin Riddiford’s Gravity-Powered Lamp to replace hazardous kerosene lamps still used in many developing countries

Innovator: Martin Riddiford’s Gravity-Powered Lamp

By Caroline Winter on March 14, 2013

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Hazardous kerosene lamps, still used in many developing countries, are a major expense for many of the world’s estimated 1.5 billion families without electricity. Poor households typically spend at least 10 percent of their income on kerosene, as much as $36 billion a year worldwide, according to the World Bank. So far, efforts to use solar energy to power lights in developing nations have run up against cost and technical challenges. Attempts to use hydroelectric microgrids or repurpose old car batteries have also been problematic, says Joe Hale, president of the nonprofit Global BrightLight Foundation. Gravity could help. British industrial designer Martin Riddiford has created a pineapple-size lamp powered by a 25-pound weight that falls about six feet in a half-hour. That may not sound like much, but it’s enough to drive a silent motor at thousands of rotations per second. The GravityLight, which shines slightly brighter than most kerosene lamps, requires a certain amount of elbow grease: Once the weight reaches bottom, it must be manually lifted to repeat the process.

Riddiford, 57, a co-founder of London-based product design firm Therefore, got the idea four years ago after leaving a meeting with a charity interested in solar tech. “I just sort of had this vision of, well, why can’t you use human power and store it as potential energy rather than in a battery,” he says. The designer, whose Brinlock Abacus calculator was the first with number-shaped buttons, and whose firm has developed products for Toshiba, Samsonite, and Nike (NKE), says he regrets not having done charitable work overseas in his youth and hopes to make up for it with his light. The first prototype, a large-scale contraption involving a bicycle wheel and a windup LED flashlight, was refined over four years into its current cheap yet durable plastic version. “It’s technically quite tricky to get it so it doesn’t jam, but we solved that problem through lots of experimentation,” Riddiford says. GravityLight will have its first field tests this summer in Africa, Asia, Latin America, and the Middle East. Once Riddiford’s team works out the final kinks, the basic model will retail for about $5. Therefore is also weighing development of a brighter version with more settings for camping and emergencies, and may eventually use its gravity-based technology to develop a cell phone charger. In December, Therefore pitched the lamp on crowdfunding site Indiegogo to help cover production costs, and in a month received $400,000, far more than the $55,000 it sought. Bill Gates called GravityLight “a pretty cool innovation,” and Therefore says donors and potential partners range from soda companies to the U.S. Department of Defense. “It’s such a clean source of light, and it’s easy to operate,” says Global BrightLight Foundation’s Hale. “The market is unlimited for them.” Still, before GravityLight goes to market, Riddiford says, “It will have to stand the test of four continents trying to kill it, trying to stamp on it, destroy it, and use it and abuse it.”

Problem: Kerosene light is a big cost for 1.5 billion families worldwide

A solution: A $5 lamp powered by a 25-pound falling weight

Early response: Plaudits from Bill Gates, interest from the Pentagon

History Channel’s ‘The Bible’ Is a Marketing Miracle

History Channel’s ‘The Bible’ Is a Marketing Miracle

By Bilge Ebiri on March 14, 2013

It’s a tense night in Sodom. God’s judgment has arrived, and fire rains down from the skies. The beleaguered, henpecked Lot, a nephew of Abraham, shuffles two mysterious Jedi-like figures into his home. A group of armed Sodomites soon bursts through the door and demands that the men be given up. One of the “Jedis” unsheathes two swords and swiftly dismembers the men.

The scene ends the first episode of a new, 10-part miniseries on the History Channel called The Bible, which garnered 14.1 million viewers last week—more than any other show on cable television in 2013. Produced by Mark Burnett, the reality-TV pioneer best known for SurvivorThe Apprentice, and Shark Tank, and his wife, Touched by an Angel actor Roma Downey (who also plays the Virgin Mary), the miniseries appears to have been conceived primarily for religious audiences—or at least those knowledgeable of scripture. It’s also packaged with enough bloodlust to capture channel surfers. In that regard, the series resembles Mel Gibson’s 2004 film, The Passion of the Christ, a movie bloggers called The Jesus Chainsaw Massacre—and which raked in more than $600 million at the box office. Read more of this post

Men’s Nail Polish Joins the Cosmetics Market; Former Ultimate Fighting Championship star Chuck Liddell famously sported dainty pink fingernail polish in fights

Men’s Nail Polish Joins the Cosmetics Market

By Joel Stein on March 14, 2013

A few years ago, Josh Espley, a former marketing exec for a sex toy company called Fleshlight, noticed that his kickboxing friends were wearing polish to cover their banged-up nails. The practice was becoming popular, he noted, with the mixed martial arts crowd: Former Ultimate Fighting Championship star Chuck Liddell famously sported dainty pink fingernail polish in fights. Espley occasionally reads Us Weekly—to help him chat up women, he says—and saw polish on male celebrities such as Zac Efron, Jared Leto, Dave Navarro, and Johnny Depp. So in 2009, as a way to supplement his income, he created Blakk Cosmetics. Its first product was Alpha Nail paint, which the company sold in $12 pens in colors like “cocaine” (creamy white), “burnin’ rubber” (dark navy), and “gasoline” (charcoal gray). Read more of this post

Sparking Innovation and More: “Eureka moments are overrated. ‘Innovations must assume that their plans are partly right and partly wrong. And then work hard at figuring out which part of the plan is wrong.”

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HE SHOULD HAVE FINISHED HIS SMOOTHIE: How One VC Passed On A 2,500X Return; At SXSW, Brian Chesky, co-founder and CEO of Airbnb, reminisced about the difficulties of building a business.

HE SHOULD HAVE FINISHED HIS SMOOTHIE: How One VC Passed On A 2,500X Return

Megan Rose Dickey | Mar. 15, 2013, 8:51 AM | 1,908 | 1

Airbnb CEO Brian Chesky InterviewAt SXSW, Brian Chesky, co-founder and CEO of Airbnb, reminisced about the difficulties of building a business.

Airbnb, an online marketplace for renting out rooms and homes, is a $2.5 billion company, according to Bloomberg.

But in the company’s early days, Airbnb founder and CEO Brian Chesky had a hard time convincing investors to back his company.

At one point, Chesky was asking for $100,000 in exchange for a 10 percent stake in the company, Bloomberg’s Adam Satariano reports. But Chesky couldn’t seem to get anyone to bite. In fact, one investor even walked out mid-pitch, leaving his half-finished smoothie behind.

Today, that investment would be worth roughly $250 million — a 2,500x return.

Earlier this year, Wedbush Securities analyst Michael Pachter estimated that Airbnb booked 12 million to 15 million nights in 2012. He thinks that could increase to 100 million nights, whereby Airbnb could generate $1 billion a year in revenues. Read more of this post

Before growing into a global fashion business with high-profile collaborations and over $112m in revenue, Acne Studios began as a boutique creative consulting firm that played by a few counterintuitive rules—ones it still stands by today.

March 14, 2013, 2:08 p.m. ET

How to Succeed in Fashion Without Trying Too Hard

Before growing into a global fashion business with high-profile collaborations, its own culture magazine and an ever-evolving product line, Acne Studios began as a boutique creative consulting firm that played by a few counterintuitive rules—ones it still stands by today.

By LYNN YAEGER

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THE BRAND PLAYED ON | Mikael Schiller, left, the executive chairman of Acne Studios, and creative director Jonny Johansson, at the Acne store in Tokyo, which opened in December.

WHILE HE WAS WORKING ON Acne’s spring 2013 collection—the long, floaty parachute-fabric skirts and T-shirts emblazoned with the word “music” that are in stores now—Jonny Johansson listened to a lot of Emmylou Harris. “It was a bit surreal. She talks about women, the difference between a woman who has experience and a woman who is young and free. She was painting pictures in a sense,” he says dreamily. “I could see this woman, in a white dress.”

Johannson, the cofounder and designer of Acne Studios, is sharing this reverie in a lofty room in the company’s world headquarters, a spectacular art nouveau former bank building on an almost ridiculously picturesque cobblestone street in Stockholm’s Old Town. Vintage copies of Flair are enshrined under plexiglass near the entrance; a grand staircase still shows off its original gilded wood paneling and stained glass. The uniformly youthful staff is clad in the kind of clothing that has become the company’s hallmark: edgy and slightly twisted, managing to walk a tightrope between slightly avant-garde and eminently wearable—or, put another way, unthreateningly bohemian.

In an era when every high street from Altoona to Zanzibar is crammed with identical chain stores selling identical merchandise, Acne is perceived as different: Its legions of fans think of it as a brand with integrity, a company that makes principled aesthetic decisions and never resorts to marketing tricks, even though they have hundreds of outlets.

If the most difficult challenge in the fashion industry is to remain relevant and desirable in an ever more crowded marketplace—and the whole project of predicting what customers will want in any given season is at best an ephemeral enterprise—Acne’s ability to play the game while appearing to remain mysteriously above the fray is a deeply impressive accomplishment. The company was founded in 1996 by four guys who threw 10,000 euros into a pot and launched a multidisciplinary digital film–design–creative consulting collective in Stockholm, an enterprise that, by a combination of frankly nutty decisions and shrewd business practices, has become a highly profitable business—$112 million in revenue last year alone—encompassing men’s and women’s ready to wear, footwear, accessories and premium denim. Read more of this post

The Incredible Science Behind How Nature Solves Every Engineering Problem

The Incredible Science Behind How Nature Solves Every Engineering Problem

Jennifer Welsh | Mar. 14, 2013, 9:13 AM | 2,470 | 

A new trend is emerging, where researchers, designers, and everyone in between are starting to ask, “how can we be more like nature — more renewable, more constructive and more sustainable?”

In a world filled with 7 billion people crammed into mega cities, human kind will have to adapt before we can continue to grow, or else we will destroy the only home we’ve ever known. We need to look to nature for instructions on how to survive on this planet in ways that are “conductive to life,” according to biomimicry pioneer Janine Benyus.

Benyus is the founder of Biomimicry 3.8 (the name is a play on the 3.8 billion years that life on Earth has spent evolving). She’s also the author of a book called Biomimicry: Innovation Inspired By Nature (William Morrow Paperbacks, 2002).

Benyus’s Biomimicry 3.8 workshops have spawned dozens of groups at local levels, bringing together people from all over the world to discuss, talk to scientists, and learn about biomimcry.

Adiel Gavish attended one of these workshops in Costa Rica in 2007, and set up the BiomimicryNYC group in December of 2011.

“Our network is really just here to create a community, to connect these people who are really excited about this next frontier of sustainability,” Gavish said. The program brings people together “to inform one another of all the exciting things we are doing and to catalyze some biomimcry projects and programs in the New York City metro region.”

Read more of this post

Buffett’s book recommendation this year: Investing Between the Lines: How to Make Smarter Decisions By Decoding CEO Communications

Investing Between the Lines: How to Make Smarter Decisions By Decoding CEO Communications [Hardcover]

L.J. Rittenhouse (Author)

Book Description

Publication Date: December 18, 2012

The essential guide to making smarter decisions by decoding CEO Communications

Recommended reading in Warren Buffet’s 2013 Shareholder Letter

Investing Between the Lines introduces a revolutionary method for evaluating the financial integrity of a company. You don’t need special access to “insider” information or a degree in accounting to figure it out. In fact, the secret is right in front of you—in black and white—in the words of every shareholder letter, annual report, and corporate correspondence you receive.

Investing Between the Lines shows you how to:

  • Decipher the “FOG” of confusing company communications
  • Decode the real meaning behind corporate jargon and platitudes
  • Separate the facts from the fluff in annual reports and quarterly earnings calls
  • Safeguard your money by investing in companies that steward investor capital

Too often, corporate executives and investment professionals are expected to deliver short-term results. As a result, they are compelled to turn to accounting techniques and unclear language to meet these expectations.

In Investing Between the Lines, L.J. Rittenhouse lays out her time-tested approach for recognizing at-risk businesses before trouble hits. This is the same method she used to predict the collapse of Enron and the fall of Lehman.

From comparing the statements of Ford, GM, and Toyota to revealing why FedEx and Wells Fargo have been so successful, Investing Between the Lines shows that Rittenhouse’s system is one of the most powerful tools a corporate leader or investor can have. Once you learn the clues to decode CEO communications, you will be able to invest between the lines—to figure out exactly what a company’s CEO is or isn’t telling you.

Whether you’re a professional investor, a new shareholder, or a CEO who wants to improve how your company communicates, Investing Between the Lines is one of the best investments you’ll ever make. Read more of this post

Germany’s Model Stresses Execution Over Innovation

March 13, 2013, 4:48 p.m. ET

Germany’s Model Stresses Execution Over Innovation

By BEN ROONEY

BERLIN—Henning Wehn has carved a niche for himself as Germany’s comedy ambassador to the U.K. On a recent TV program when asked what was the worst thing to overhear about yourself, playing to the German stereotype he replied “he isn’t all that efficient.”

The Wall Street Journal Deutschland recently held a tech cafe event in the heart of the capital’s startup district, Mitte, and much of the talk around the tables of the Kaffeemitte was on German entrepreneurship. The general consensus was that while Germany may not culturally be the most entrepreneurial country, the emphasis on execution was a national strength.

It should come as no surprise, then, that a particularly German way of building startups is emerging from the capital city; companies that are less focused on product innovation, and instead hone their execution.

Stepping away from the accelerator model (find existing exciting startups that are doing innovative things, provide them with mentors and a working space in return for equity), Berlin appears to be favoring the incubator (create companies that target specific and identified markets, hire smart people to run with the idea and provide them with the tools to execute).

Leading the way is the powerhouse of the German online economy, Rocket Internet. Founded by the media-shy Samwer brothers, it takes a proven business model, clones it and then just out-executes its competitors. According to the company’s youthful managing director, Alexander Kudlich, “We are able to launch within 3 1/2 weeks—from decision to launching.”

“It’s only about operationally doing every little thing right and faster and better than the others.” Read more of this post

Teenager Dies of Food Poisoning After Jakarta Hospitals Deny Treatment — the latest in a series of deaths after hospitals rejected sick poor people.

Teenager Dies of Food Poisoning After Jakarta Hospitals Deny Treatment
Lenny Tristia Tambun & SP/Deti Mega | March 12, 2013

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Indonesian baby girl Dara Nur Anggraini, whose twin sister, Dera, died on Feb. 16. Jakarta’s hospitals were ill-prepared for governor Joko Widodo’s granting of free medical care to a larger number of the city’s poor. (AFP Photo).

A teenager on Saturday died of a severe intestinal infection after several Jakarta hospitals denied her treatment — the latest in a series of deaths after hospitals rejected sick people.  Read more of this post

How Benjamin Franklin Invented the Mail-Order Business

How Benjamin Franklin Invented the Mail-Order Business

In her 1996 autobiography “An Eye for Winners,” the catalog pioneer Lillian Vernon credited Benjamin Franklin with introducing the “American institution” of mail-order retailing.

Undeniably, Franklin is responsible for many innovations (the first successful circulating library, bifocals and the lightning rod, to name a few). But mail order?

In 1744, Franklin published “A Catalogue of Choice and Valuable Books, Consisting of Near 600 Volumes, in most Faculties and Sciences,” whose title page laid out the terms of sale for the titles he offered, which ranged from treatises on law and philosophy to works of poetry. His sale was to start at 9 a.m. sharp on April 11, and would last for three weeks “and no longer.” Terms were cash only. Notably, the printer, publisher and postmaster allowed people outside of town the opportunity to purchase the books, as well: “Those Persons that live remote, by sending their Orders and Money to said B. Franklin, may depend on the same Justice as if present.”

Franklin didn’t specify how, precisely, his remote customers were to receive their books, and according to James N. Green, an expert on Franklin and the librarian of the Library Company of Philadelphia — the subscription library founded by Franklin — there is no evidence of bound books being sent by post riders during this era, which would have qualified the shipments as “real” mail order. According to Green, “they probably would have been sent by whatever wagon was going that way, like other freight.” Read more of this post

Lego Builds New Billionaires as Toymaker Topples Mattel; Lego is valued at $14.6 billion vs Mattel’s $14.4bn and Hasbro’s $5.4bn

Lego Builds New Billionaires as Toymaker Topples Mattel

Lego A/S, the Billund, Denmark- based toymaker famous for its colorful building bricks, has minted three new billionaires as the company’s revenue soared 25 percent last year.

The children of Kjeld Kirk Kristiansen, Denmark’s richest man — Sofie Kirk Kiaer Kristiansen, Thomas Kirk Kristiansen, and Agnete Kirk Thinggaard — hold a combined 37 percent economic interest in the company valued at more than $5.3 billion, according to the Bloomberg Billionaires Index. None have appeared individually on an international wealth ranking.

The closely held company’s sales climbed to 23.4 billion Danish kroner ($4.04 billion) in 2012, according to the company’s annual report, helping the 81-year-old operation pass Mattel Inc. to become the world’s most-valuable toy manufacturer.

“Lego is on fire,” Gerrick Johnson, an analyst with BMO Capital Markets in New York, said in an e-mail. “It’s the world’s biggest toymaker in terms of net income, operating income and Ebitda. It had a 71 percent gross margin in its latest results and is posting strong sales growth.”

Lego is valued at $14.6 billion, based on the average enterprise value-to-earnings before interest, tax, depreciation and amortization, enterprise value-to-sales and price-to- earnings multiples of competitors Mattel (MAT) and Hasbro Inc. (HAS), according to data compiled by Bloomberg. Enterprise value is defined as market capitalization plus total debt minus cash. Read more of this post

Panda tea: one of the world’s most expensive; A kilogram of the tea goes for an average of US$70,000

Panda tea: one of the world’s most expensive

Staff Reporter

2013-03-13

Mengdingshan, a mountain in southwest China’s Sichuan province, boldly claims to be the origin of the world’s tea culture. The mountain’s excellent environment has produced teas of the highest quality, sipped by the country’s emperors (and now presidents) since the Tang Dynasty. Panda tea, a kind of tea that grow on soil fertilized with panda dung, is one of the world’s most expensive tea leaves. A kilogram of the tea goes for an average of 440,000 yuan (US$70,000), reports state-run news agency Xinhua.

C309N0160H_2013資料照片_N71_copy1Children harvest tea leaves in panda costumes in Mengdingshan, Sichuan province. (Photo/CNS)

East India Company: The Original Too-Big-to-Fail Firm

East India Company: The Original Too-Big-to-Fail Firm

For an institution that has been defunct for almost 150 years, the East India Company still evokes powerful reactions across the world.

Last year, when the Indian government debated allowing foreign companies to open supermarkets there, protesters shouted: “This is the return of the East India Company!” In the U.K., the East India Company’s extraordinary rise and fall have uncanny parallels with the stock-market bubbles and government bailouts that have shaken the economy over the past decade.

And little wonder: At the heart of the company’s story are eternal questions about how to cope with the powers and perils of large multinational corporations.

Established by royal charter in 1600 with a monopoly on all trade with Asia, the East India Company had many incarnations in its almost 275-year run.

For the first half of its existence, it remained a commercial supplicant, exporting bullion to pay for Asia’s luxury goods: first spices, then textiles and tea. Along the way, it became an early model for today’s joint-stock corporation and pioneered new management techniques for long- distance supply chains.

It also created a series of lifestyle revolutions in 18th- century England. Daniel Defoe described in 1708 how the company’s calicoes, shipped from India, “crept into our houses, our closets, our bedchambers.” This calico boom prompted fierce resistance from Britain’s weavers, who felt threatened by a flood of cheap Asian imports. In 1720, the government responded with a ban on Indian calicoes, and it was behind this protectionist wall that the Industrial Revolution would take shape. Read more of this post

Enterprise Holdings Inc. managed to become the world’s largest rental-car company by sales without actually spanning the globe. The chief executive officer says he knows that has to change. “We want to control that customer experience. We want our people taking care of customers.”

Billionaire’s Son Eases Grip to Take Enterprise Global

Enterprise Holdings Inc. managed to become the world’s largest rental-car company by sales without actually spanning the globe. The chief executive officer says he knows that has to change.

Until recently, there wasn’t an Enterprise rental counter in China, Spain or France. Malaysia and Korea, a couple of the world’s fastest growing markets, remain untapped. So to meet the global needs of international corporations, Chief Executive Officer Andy Taylor, son of founder Jack Taylor, has had to do something they have been loath to try in the 56 years they’ve controlled the closely held St. Louis area company: franchising.

“Years ago, the thought of licensing was absolutely abhorrent,” Andy Taylor, 65, said in an interview. “We want to control that customer experience. We want our people taking care of customers. But we’re learning that if we’re going to be a global brand, and we need to be competitive in the future, we’ll have to do it a different way.” Read more of this post

Leonardo da Vinci’s anatomical drawings were “startling” in their accuracy, new medical scans have shown, putting him hundreds of years ahead of his peers

Leonardo da Vinci was right all along, new medical scans show

Leonardo da Vinci’s anatomical drawings were “startling” in their accuracy, new medical scans have shown, putting him hundreds of years ahead of his peers.

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The bones, muscles and tendons of the hand c.1510-11 and 3D image of a dissected hand Photo: Royal Collection Trust / © Her Majesty Queen Elizabeth II 2013 /© Mark Mobley, West Midlands Surgical Training Centre

By Hannah Furness

10:23AM GMT 12 Mar 2013

He has long been praised as one of the finest artists of the Renaissance, working far ahead of his time and producing some of the world’s most recognisable works.

But Leonardo da Vinci has finally received the credit he deserves for his “startling” medical accuracy hundreds of years in advance of his peers, as scientists match his anatomical drawings with modern day MRI scans.

The project, which will be unveiled at the Edinburgh International Festival in August, compares the work directly for the very first time, unveiling the minute details recorded by the artist.

In a series of 30 pictures, the Royal Collection Trust will show da Vinci’s distinctive anatomical drawings alongside a newly-taken MRI or CT scan.

The comparison is intended to show just how accurate da Vinci was, despite his limited technology and lack of contemporary medical knowledge. Read more of this post

Sir Luke Johnson: A founder with a sense of value is able to build a more resilient corporate culture

March 12, 2013 4:11 pm

An eye on costs sets the tone for success

By Luke Johnson

A founder with a sense of value is able to build a more resilient corporate culture

One of the most outstanding entrepreneurs I have ever worked with has one particular trait that I think is the secret of his success. It is not his ability to sell, motivate staff, innovate or think strategically. It is a rather more mundane tendency – but in this climate, an incredibly important one: his sense of thrift.

Frugality has never really been in fashion, but now more than ever it is needed. A founder with a profound sense of value is able to build a more resilient corporate culture. Ingvar Kamprad has become one of the wealthiest men ever born by making Ikea the largest and cheapest retailer of furniture in history. It sells home furnishings at prices no rival can match because it is managed with a spirit of thrift. Mr Kamprad practices what he preaches. He always flies economy-class, drives a 15-year-old Volvo, and says: “I am a bit tight with money, a sort of Swedish Scotsman. But so what? If I start to acquire luxurious things then this will only incite others to follow suit.”

One food entrepreneur who recently failed to get it right is John Schnatter, founder of the Papa John’s Pizza chain. He has complained in public about the burden of implementing US President Barack Obama’s healthcare law for staff, and suggested franchisees would cut employee hours or increase prices. Meanwhile, he has company stock worth more than $300m and an extravagant mansion in Kentucky, and yet has always promoted himself as an everyday guy in advertisements. Over recent months he has taken heavy criticism from bloggers to comedians, and thecompany’s reputation has suffered . Now he has hired a powerful PR man to try to rebuild his – and the company’s – image.

The characteristic that I admire in a business builder is not meanness but prudence and cost-consciousness. Such entrepreneurs tend to have a healthy sense of realism: they know just how hard it is for most companies to make sustainable profits. Of course, every business needs much more than a neurotic focus on the expense of everything – there must also be quality, and service, and all the other features possessed by market leaders. Read more of this post

Universities Pile on Faculty Perks as Student Costs Grow and students are struggling to pay off $1 trillion in education loans in a weak job market

Universities Pile on Faculty Perks as Student Costs Grow

By John Hechinger and Michael McDonald  Mar 12, 2013

The University of Chicago paid James Madara $2.5 million in severance when he stepped down in 2009 as medical dean and hospital chief. Madara, who remained on the faculty, later joined the American Medical Association.

Congress is taking a look at such payments following disclosures that Jacob Lew, the new U.S. Treasury secretary, received a $685,000 bonus when he left New York University and had $1.5 million in housing loans from the school.

Harvard and Stanford universities also offer real-estate loans with sweet terms, records show. While the amounts are small relative to university budgets, the perks insulate faculty and administrators from the costs upsetting many middle-class families, said Jonathan Robe, a research fellow at the Center for College Affordability and Productivity in Washington.

“It certainly gives the public a clear example of how out of touch some universities are,” Robe said. “Parents will think, ‘Here I am scraping by, raiding my retirement plan to pay for college. Why are they making me do this just to enrich these executives?’”

Congress and President Barack Obama have been pushing colleges to control tuition and other costs, which can exceed $60,000 a year at a private school. In a weak job market, students are struggling to pay off $1 trillion in education loans. Read more of this post

Chinese cultural puzzles for foreign visitors

Chinese cultural puzzles for foreign visitors

Staff Reporter

  • 2013-03-12

“Why don’t public restrooms in China offer toilet paper?” Questions like these — the peculiarities of Chinese culture against many things Westerners would consider normal — have confused many foreign visitors in China. China Internet Information Center, a mainland web portal, has listed nine confusing questions about China from a stand point of a foreign visitor, reports Want Daily, our Chinese-language sister newspaper.

Some of the questions include: “Why do Chinese act so politely when you talk to them but become so mean on the internet?” or “Why can Chinese people be so weak when giving a speech on stage while they are so humorous off it? ” and “Why don’t Chinese people attend the Ultimate Fight Championship as they are good at Kung Fu?”

One of the questions even asks about the ‘local dialect:’ “Why do Chinese people usually say ‘F#$% your mother’ whereas Americans say ‘F#$% you?'”

The web portal suggests that, in a joking way, visitors should post a sign saying ‘stingy’ on a public restroom that does not offer free toilet paper as most tourist sites charge money for entrance. The web portal also says that Chinese people are not united even though there are excellent individuals around the world.

Bowl in the locker of a nursing home

How we face ‘getting old before getting rich’ 

People’s Daily Online)  07:57, March 13, 2013

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Bowl in the locker of a nursing home in Taiyuan, Shanxi

China’s “ant tribe”: Life in boxy rooms

China’s “ant tribe”: Life in boxy rooms

2013-03-12 06:18:01 GMT

They sleep in boxy rooms crammed into dingy low-rises and spend hours commuting to work on crowded buses as part of a trend of poorer white-collar workers being forced to the fringes of China’s wealthiest cities. These struggling college graduates who swarm out of their cramped accommodations and head to work in the urban sprawl each morning are often referred to as China’s ant tribe. The growing ranks of ‘worker ants’ poses a policy challenge for Chinese leaders as high property prices and dim career prospects thwart the ambitions of many graduates for a comfortable middle-class lifestyle.

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Life of Pi(G): Parody on Shanghai’s floating pig carcasses in the Huangpu River, which is the major source of water for the city’s 23 million population

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Authorities in the city of Shanghai reported on March 11 that at least 3,300 dead pigs had been found floating in the Huangpu River, which is the major source of water for the city’s 23 million population. The story shocked many Chinese, who worried understandably about the implications for public health and puzzled over the question of how farmers upstream were able to discharge such a large number of dead pigs into the river without notice. The above cartoon, posted by artist Du Shi Xiong (大尸凶的漫画) to Sina Weibo, is a mock movie poster referencing director Ang Lee‘s recent blockbuster Life of Pi. The poster pictures the film (and book’s) main character, Indian storyteller Pi Patel, drifting on his life raft not with the male Bengal tiger “Richard Parker” but with scores of dead pigs. The water all around him is also littered with dead pigs. This cartoon is one of quite a few now circulating on Sina Weibo using the “Life of Pi” movie poster meme to explore the story of Shanghai’s dead pigs. The following is another posted by Gou Ben (勾犇漫画) today. In this one, Pi Patel wears a heavy-duty safety mask to protect himself from the smog (another health issue of great concern to the Chinese public) while the tiger “Richard Parker” leaps headlong into a river teeming with dead pigs and screams: “Here’s some meat to eat. If it kills me, at least I’ll die of a bloated stomach!”

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Fever-Tree founders sell £48m stake in tonic maker; “Fever-Tree follows in a tradition of great British brands including Innocent, Ella’s Kitchen and Tyrrells which all achieved fantastic success by exporting to the rest of the world.”

Fever-Tree founders sell £48m stake in tonic maker

Two entrepreneurs who spent 18 months scouring the globe for ingredients for the perfect gin and tonic have been backed with £48m.

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Tim Warrillow and Charles Rolls launched Fever-Tree eight years ago.

By James Hurley

6:59PM GMT 12 Mar 2013

LDC, the private equity arm of Lloyds Banking Group, has invested in premium tonic water brand Fever-Tree, which was founded eight years ago by Charles Rolls and Tim Warrillow.

Mr Warrillow spent a year-and-a-half searching for the right ingredients for the tonic water. The company now uses quinine from the Congo, Rwandan bitter orange oil and natural cane sugar. It also makes ginger beer using gingers from the Ivory Coast.

The deal will see LDC replace original investor Lochside and leaves Mr Rolls and Mr Warrillow still holding a small majority stake.

Mr Rolls says the £16m turnover company has exploited the growing popularity of gin. “It began with a simple idea. We saw a lot of premium spirits so we thought people would want a premium mixer. If three quarters of your drink is the mixer, you should make sure the mixer is the best.

“Premium mixers didn’t exist before we started but we were right. Within six months, the likes of Waitrose were calling us. That never happens.”

More than two-thids of Fever-Tree’s sales now come from overseas, with Spain and the USA the most successful of the 35 markets it sells to. Read more of this post