How Thoma Bravo made $600 million in 3 months from Digital Insights; In August, Thoma Bravo bought Digital Insight for around $1 billion. Yesterday, it agreed to sell it for $1.65 billion.

How Thoma Bravo made $600 million in 3 months

By Dan Primack December 3, 2013: 11:27 AM ET

In August, Thoma Bravo bought Digital Insight for around $1 billion. Yesterday, it agreed to sell it for $1.65 billion.

FORTUNE — NCR Corp. yesterday announced agreed to acquire Digital Insight Corp., a Silicon Valley provider of online and mobile banking solutions, from private equity firm Thoma Bravo for $1.65 billion. Yes, the same Digital Insight that Thoma Bravo acquired a scant three months ago from Intuit for $1.065 billion (including more than $400 million in equity). Read more of this post

Mobile Banks Gaining Popularity With Young Consumers

December 6, 2013

Mobile Banks Gaining Popularity With Young Consumers

By ANN CARRNS

TURIYA GOETZE, a 23-year-old teaching assistant in Kansas City, Kan., found herself looking for a new bank this summer. Her student checking account at a large national bank had expired, and she was worried about paying lots of fees on a traditional account. Read more of this post

The one move that might put Uber in the fast lane; The on-demand, mobile app-based transportation service has enjoyed tremendous growth. Its new financing platform promises to press the pedal even closer to the metal

The one move that might put Uber in the fast lane

December 5, 2013: 9:02 AM ET

The on-demand, mobile app-based transportation service has enjoyed tremendous growth. Its new financing platform promises to press the pedal even closer to the metal.

By Chanelle Bessette, reporter

FORTUNE — Uber, the company behind the eponymous mobile application that promises to hail a personal driver with a tap of one’s finger, announced last week a new program intended to help would-be Uber drivers afford vehicles. It might just kick the startup company’s growth into high gear. Read more of this post

Twitter to be available on mobile phones without Internet

Twitter to be available on mobile phones without Internet

3:12pm EST

By Sruthi Ramakrishnan

(Reuters) – Twitter Inc is tying up with a Singapore-based startup to make its 140-character messaging service available to users in emerging markets who have entry-level mobile phones which cannot access the Internet. U2opia Mobile, which has a similar tie-up with Facebook Inc, will launch its Twitter service in the first quarter of next year, Chief Executive and Co-founder Sumesh Menon told Reuters. Read more of this post

Twitter’s CEO: “Failing to make bold choices. That’s how you fail. You start to only focus on incrementalism instead of making bold choices.”

How Twitter’s CEO closes deals

BY CARMEL DEAMICIS 
ON DECEMBER 5, 2013

Dick Costolo launched his first companies in Chicago, where just like every new founder he had to do the long hard slog of raising money. Almost two decades later came the roadshow to take Twitter public. Speaking at tonight’s PandoMonthly in San Francisco, Costolo told Sarah Lacy there’s not much of a difference between the two. Selling is selling, whether you’re trying to get twenty bucks out of some guy’s pocket or billions from mutual fund investors. Read more of this post

Why Amazon’s Going Up in the Air

Why Amazon’s Going Up in the Air

By Brad Stone December 05, 2013

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During the late 1990s, when capital flowed freely to Internet startups and investors were pushing Amazon.com’s (AMZN) stock price into the stratosphere, Jeff Bezos was full of outlandish ideas for his company’s future. Colleagues called these reveries “fever dreams.” Read more of this post

To Expand Reach, Retailers Take Aim at Hispanic Shoppers

December 5, 2013

To Expand Reach, Retailers Take Aim at Hispanic Shoppers

By ELIZABETH A. HARRIS

A few words used repeatedly start to sound like a chorus when Macy’s talks about unveiling its new line of clothing and accessories with Thalía Sodi, a Mexican pop star: Curves. Prints. Color. And the one perhaps used most, which signals this venture’s true value, is “Latina.” “This is an amazing opportunity to deliver to the Latin consumer,” Ms. Sodi said, who described the brand as “specifically focused” on Hispanics. “The dresses will be stylish and sexy, but not too simple. Colorful prints, nice contouring to flatter the body.” Read more of this post

In Vietnam, Weary Apparatchiks Launch Quiet Revolution

In Vietnam, Weary Apparatchiks Launch Quiet Revolution

By Martin Petty on 1:59 pm December 3, 2013.
Hanoi. The Vietnam of today wasn’t what Le Hieu Dang had hoped for when he joined the Communist Party 40 years ago to liberate and rebuild a country reeling from decades of war and French and US occupation. The socialist system of the late revolutionary Ho Chi Minh has been corrupted, he says, by a shift to a market economy tightly controlled by one political party that has given rise to a culture of graft and vested interests. Read more of this post

Vietnam Faces Growing Threat of Power Blackouts: Southeast Asia

Vietnam Faces Growing Threat of Power Blackouts: Southeast Asia

Vietnam’s success in attracting investment, generating growth and adding jobs is under threat from looming shortages of what keeps modern economies running: electricity. The risk of shortages took a turn for the worse last week when state-owned Vietnam Oil & Gas Group said talks with Chevron Corp. (CVX) to develop a natural gas field had failed due to price disputes, which will delay supply of the fuel to electricity generators. Consultant IHS Energy said last month that demand in the country may exceed gas supply by 2015. Read more of this post

Deals Not Done: Sources of Failure in the Market for Ideas

Deals Not Done: Sources of Failure in the Market for Ideas

Ajay Agrawal University of Toronto – Rotman School of Management; National Bureau of Economic Research (NBER)

Iain M. Cockburn Boston University – Department of Finance & Economics; National Bureau of Economic Research (NBER)

Laurina Zhang University of Toronto

November 2013
NBER Working Paper No. w19679

Abstract: 
Using novel survey data on technology licensing, we report the first empirical evidence linking the three main sources of failure emphasized in the market design literature (lack of market thickness, congestion, lack of market safety) to deal outcomes. We disaggregate the licensing process into three stages and find that although lack of market thickness and deal failure are correlated in the first stage, they are not in the latter stages, underscoring the bilateral monopoly conditions under which negotiations over intellectual property often occur. In contrast, market safety is only salient in the final stage. Several commonly referenced bargaining frictions (congestion) are salient, particularly in the second stage. Also, universities and firms differ in the stage during which they are most likely to experience deal failure.

A life without empathy for others is truly unrewarding

Updated: Wednesday December 4, 2013 MYT 11:17:27 AM

No Compromise on Compassion

BY DAVINA GOH

A life without empathy for others is truly unrewarding.

IF there is any more memorable way that I have reconnected with old friends, I can’t imagine one more relevant than with my good friend Ashaari. Ashaari and I had only known each other previously from a theatre production a year before. I was an actor and he, a friend of the director’s, was a front-of-house volunteer. Over a year later, I randomly responded to a mass Facebook message Ashaari had sent out, regarding a video project for an international initiative called the Charter of Compassion. He was looking for people to be filmed answering the question: What does the word ‘compassion’ mean to you? Read more of this post

Reverse the curse: Maximizing the potential of resource-driven economies

Reverse the curse: Maximizing the potential of resource-driven economies

December 2013 | byRichard Dobbs, Jeremy Oppenheim, Adam Kendall, Fraser Thompson, Martin Bratt, and Fransje van der Marel

Rising resource prices and expanded production have raised the number of countries where the resource sector represents a major share of the economy, from 58 in 1995 to 81 in 2011. That number will rise: to meet soaring demand for resources and replace rapidly depleting supply, the world should invest a total of up to $17 trillion in oil and gas and in minerals by 2030, double the historical rate. In 20 years, almost half of the world’s countries could depend on their resource endowments for growth. Read more of this post

China regulator mulls cutting traditional medicine prices: report

China regulator mulls cutting traditional medicine prices: report

6:17am EST

HONG KONG (Reuters) – Chinese regulators are considering cutting retail price limits on some traditional Chinese medicines (TCM) by as much as 10 percent early next year, a newspaper controlled by the official Xinhua news agency reported. This follows a regulatory crackdown on real or perceived corporate wrongdoing this year, with domestic and international manufacturers of infant formula and drugs coming under the spotlight. The Economic Information Daily, citing unidentified sources, reported on Thursday that the National Development and Reform Commission (NDRC) was looking to reduce prices of top-end, non-essential products, which had risen sharply due to supportive policies. Beijing Tongrentang and Shijiazhuang Yiling Pharmaceutical are among the firms that will be most affected, given the range of such medicines that they offer, the report said. The agency expects to see prices for a small number of such products drop by up to 25 percent in two years, according to the report. Traditional Chinese medicine products classified as “essential” by the NDRC and those identified as state secrets will be exempted from this ruling.

12 Successful Entrepreneurs Share The Best Advice They Ever Got

12 Successful Entrepreneurs Share The Best Advice They Ever Got

MAX NISEN AND JENNA GOUDREAU DEC. 3, 2013, 2:27 PM 160,867 1

This is part of the “Moving Forward” series offering advice to small business owners on technology, mentorship, productivity, and growth. “Moving Forward” is sponsored by Ink from Chase®. 

Being a successful entrepreneur frequently involves a series of missteps and mistakes before finally nailing the right idea or business. The difference, for many, between giving up and persisting through the toughest times can be getting advice from people who have done it before — and being smart enough to listen. From investor Mark Cuban’s dad telling him that there are no shortcuts to Lululemon founder Chip Wilson’s realization that people actually enjoy helping others, we asked 12 successful entrepreneurs to share the best advice they ever got, discovering the lessons that stick with them to this day.  Read more of this post

Hidden U-Haul Billionaire Emerges With Storage Empire

Hidden U-Haul Billionaire Emerges With Storage Empire

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Mark V. Shoen had to endure his father’s suicide, a sister-in-law’s murder and an internecine battle on his way to becoming the largest shareholder of Amerco, the parent of truck rental company U-Haul, North America’s biggest moving and storage business. Becoming a self-storage baron required additional drama, if only in the courtroom. Shoen’s storage empire was the center of a decade-long shareholder suit that splintered his family and left the 62-year-old in control of a business that made him a billionaire. Read more of this post

Malcolm Gladwell on the Advantages of Disadvantages

Malcolm Gladwell on the Advantages of Disadvantages

Dec 03, 2013 Books Podcasts Video North America

In his new bestseller, David and Goliath: Underdogs, Misfits, and the Art of Battling Giants, Malcolm Gladwell looks at what happens when ordinary people confront powerful opponents. He starts the book by dissecting the classic tale of David and Goliath, challenging our beliefs about what the story tells us regarding underdogs and giants, and ultimately, our fundamental assumptions about power. Wharton management professor Adam M. Grant recently interviewed Gladwell about his new book when he visited campusas a guest lecturer in the Authors@Wharton series. Gladwell shared why he never roots for the underdog, where he comes up with the ideas for his books and sets the record straight on the biggest misunderstandings about his work. An edited transcript of the conversation follows.

Adam Grant: Let’s start talking about your latest blockbuster: David and Goliath. What’s the core message and idea?

Malcolm Gladwell: It’s an examination of the idea of advantage and, particularly, it looks at asymmetrical conflicts – conflicts between one very large and one not-so-large party. How do we account for the unusual number of successes that underdogs have in those situations? The book takes off from there to try and figure out whether our assumptions about what makes for an advantage are accurate. Read more of this post

U.S. Students Get Stuck in Middle of the Pack on OECD Test

U.S. Students Get Stuck in Middle of the Pack on OECD Test

U.S. teenagers showed little progress on an international test of math, science and reading, which was again led by students in Shanghai and Singapore, bolstering support for tougher standards in U.S. schools. The U.S. placed below average in math and about average in reading and science among the 34 countries in the Organization for Economic Cooperation and Development, the Paris-based agency that released results today of the 2012 Programme for International Student Assessment. There was little change from the last test three years ago, the OECD said. Read more of this post

Game Theory Sparks Terrorism Risk Modeling; There isn’t enough historical data to help companies keep pace with intelligent adversaries.

December 02, 2013

Game Theory Sparks Terrorism Risk Modeling

There isn’t enough historical data to help companies keep pace with intelligent adversaries.

David M. Katz

This is one of three articles in a special report on new uses of risk analytics and risk modeling. The report takes in an-depth look at how Big Data can provide CFOs with new weapons they can use to combat the risk they fear the most: the unexpected.

By factoring in the Economic Cost of Risk, CFOs can capture the ups and downs of their companies’ perils. Traditional metrics can help CFO get a firmer grasp of past or frequent events. But for future perils, risk modeling may be the way to go. Read more of this post

The need to rein in perfectionism; Demanding flawless performance is itself a management fault

December 4, 2013 5:56 pm

The need to rein in perfectionism

By Naomi Shragai

In psychotherapy we have a useful concept to take the pressure off parents who feel they need to be perfect. We say they need only to be “good enough”, and that an important way of achieving that is to create the right environment for their children to thrive. Read more of this post

Harvard Median Grade of A- Gets F in Responsibility From Teacher

Harvard Median Grade of A- Gets F in Responsibility From Teacher

Harvard University undergraduates are more likely to get an A than any other grade, a measure of academic largesse that hurts the college’s students in the long run, a professor said.

A university official revealed in a faculty meeting that A’s are the most frequently given mark from Harvard College teachers, and A- is the median grade, the Harvard Crimson student newspaper reported yesterday.

“They’re debasing the value of an A,” said Harvey Mansfield, a government professor who has long decried grade inflation at the school in Cambridge, Massachusetts. “They’re ignoring their responsibility to maintain our standards.”

Jay Harris, Harvard’s dean of undergraduate education, revealed the data on grades to answer a question from Mansfield at a monthly faculty meeting, the Crimson reported. Jeff Neal, a university spokesman, confirmed the accuracy of the information in an e-mailed statement today.

“We believe that learning is the most important thing that happens in our classrooms and throughout our system of residential education,” Neal said. “The faculty are focused on creating positive and lasting learning outcomes for our undergraduates. We watch and review trends in grading across Harvard College, but we are most interested in helping our students learn and learn well.”

The school formed an Initiative on Teaching and Learning in 2011.

Cheating Scandal

Harvard, the oldest and richest U.S. university, had its scholarly reputation rocked last year by a final-exam cheating scandal that resulted in suspensions for dozens of students. The scandal was discovered when teachers noticed evidence of students collaborating inappropriately on a take-home exam.

The college’s students expect high grades, whether or not they perform outstanding work, Mansfield said.

“The scandal took place in an atmosphere where easy, good grades are expected,” he said in a telephone interview. “People aren’t serious about working for grades.”

Mansfield said that many teachers give A’s because they want to maintain good relationships with students, who need high marks to get jobs and places in graduate and professional schools. He called the high-grade glut a kind of pollution, where each person thinks their contribution is harmless.

“Students are living in a bubble,” he said. “When they get out, they’re surprised that people don’t get A’s for doing no work and being dumb.”

Established in 1636, Harvard has an endowment of $32.7 billion, the biggest educational fund in the world. The school said in September that it plans to raise $6.5 billion in donations by 2018, a record goal for U.S. universities.

— Editors: Chris Staiti, Lisa Wolfson

To contact the reporter on this story: John Lauerman in Boston at jlauerman@bloomberg.net

Trust-based payment system not working out well for restaurant

Trust-based payment system not working out well for restaurant

Wednesday, December 4, 2013 – 09:24

China Daily/Asia News Network

The owner of a self-service restaurant in Fujian province that trusts diners to pay what they want says he is running up a huge financial loss – as many people opt to pay nothing at all. Five Loaves and Two Fish was opened in downtown Fuzhou in August, offering coffee, cakes and hot dishes. It has five round tables and six workers to cook and clean.  Read more of this post

December 4, 2013

Baffling 400,000-Year-Old Clue to Human Origins

By CARL ZIMMER

Scientists have found the oldest DNA evidence yet of humans’ biological history. But instead of neatly clarifying human evolution, the finding is adding new mysteries. In a paper in the journal Nature, scientists reported Wednesday that they had retrieved ancient human DNA from a fossil dating back about 400,000 years, shattering the previous record of 100,000 years. Read more of this post

The Three Habits of Highly Effective Demotivators

Posted: November 22, 2013

Sally Helgesen is an author, speaker, and leadership development consultant, whose most recent book is The Female Vision: Women’s Real Power at Work(with Julie Johnson; Berrett-Koehler, 2010).

The Three Habits of Highly Effective Demotivators

Jake, a young marketing whiz, thought he’d found his perfect match in a well-funded technology startup in the academic sector. (It’s a real company, but I’ve changed all names.) For the first few months, Jake was in heaven: smart colleagues, plenty of autonomy, an open field of savvy customers looking for solutions in a hot sector, behind-the-curve competitors, and a terrific product he could sell with his heart. Read more of this post

The President, the Pope and the People: The idea that honest work should pay an honest wage is part of the American social contract – and one that is in danger of disintegrating

December 4, 2013

The President, the Pope and the People

By CHARLES M. BLOW

On Wednesday, while delivering a speech largely about income inequality and economic mobility, a populist president invoked a populist pope. After rattling off a laundry list of dire statistics, President Obama cited Pope Francis: Read more of this post

Serious innovation requires serious state support; Growth requires the kind of committed finance behind Silicon Valley

December 4, 2013 5:16 pm

Serious innovation requires serious state support

By Mariana Mazzucato

Growth requires the kind of committed finance behind Silicon Valley, writes Mariana Mazzucato

Economics ministers around the developed world say that they want to “rebalance” away from speculative finance and build up a more productive “real economy”. Yet this plan overlooks just how sick the real economy has become. It also ignores that we need high-quality finance – not just large quantities of it – in order to regenerate it. Read more of this post

20 Years Of Tech Innovation In A Single Picture

20 Years Of Tech Innovation In A Single Picture

HENRY BLODGET 

DEC. 3, 2013, 9:00 AM 15,936 9

The picture below was recently tweeted by @FascinatingPics. It shows some of the 1993 technology that is now packed into 2013 technology. Anytime you think the pace of innovation in the world is slowing down, just have another glance at this.

1993 v 2000

 

16 Gifts Every Investor Would Love

16 Gifts Every Investor Would Love

STEVEN PERLBERG AND SAM RO NOV. 29, 2013, 1:33 PM 101,944 1

This editorial feature, “16 Gifts Every Investor Would Love,” is sponsored by Rosetta Stone. For many, the actual act of holiday shopping is the scourge of an otherwise cheerful season. A good gift is hard to find for anyone, but if you’ve got an investor in your life, it can prove especially difficult. Not to fear, because we’ve got a bunch of great options for you. Whether it’s a desktop essential, a must-have book, or a premium item, we have you covered this year. Prices may vary, but these are sure to keep any investor risk-on for 2014.  Read more of this post

Goldman Sachs Sued by Singapore Client Oei Over $34.3 Million Loss on Brazilian real-yen options trades

Goldman Sachs Sued by Singapore Client Oei Over Loss

Goldman Sachs Group Inc. (GS) was sued by Singaporean wealth-management client Oei Hong Leong over a $34.3 million loss on Brazilian real-yen options trades he said it misled him into making. Oei accused the New York-based bank of fraudulent misrepresentation, breach of fiduciary duty, fraudulent inducement and unjust enrichment in papers filed today in New York state court. Read more of this post

Idea Velocity: What I Learned From SAC; do you really have a discipline in place to come up with at least one, highly researched, well-thought out, high conviction idea per week?

TUESDAY, NOVEMBER 26, 2013

IDEA VELOCITY. What I learned from SAC.
POSTED BY DASAN AT 9:25 AM

SAC, the infamous hedge fund led by mercurial, secretive, super art collector Stevie Cohen is legendary. They have recently been accused of insider trading and it sure looks like they are guilty.  But there are a lot of very smart people that worked there that had nothing to do with this scandal. PMs and analysts in Hedgistan dream of toiling there and making obscene riches.  As an unabashed trading addict and player of The Game, I was like a moth to the flame.  I had to check this place out.  I did.  Although by dumb luck and a well-calibrated BS detector, I was able to avoid joining them, I did meet with them over a dozen times.  I learned some principles that have changed my way of trading forever.  For the good.  Out of a spirit of equanimity and gratitude, I will share them with you. Read more of this post

Misunderstanding the ‘Asean Way’

Updated: Sunday December 1, 2013 MYT 8:55:40 AM

Misunderstanding the ‘Asean Way’

BY BUNN NAGARA

Forging ahead: Delegates attending a photo call at the 5th Asean–UN Summit as part of the 23rd Asean Summit in Brunei. Asean began as a highly improbable organisation but over time, Asean and its member nations have not only survived but prospered. — Bernama

The strength of Asean, or the effectiveness of its Secretariat, is only what its least willing member would allow it to be.

TOO often are standard arguments repeated at international conferences, particularly those of a regional strategic nature, regardless of whether those arguments are true or correct. Read more of this post