The Secrets of Bezos: How Amazon Became the Everything Store

The Secrets of Bezos: How Amazon Became the Everything Store

By Brad Stone October 10, 2013

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Amazon.com rivals Wal-Mart as a store, Apple as a device maker, and IBM as a data services provider. It will rake in about $75 billion this year. For his book, Bloomberg Businessweek’s Brad Stone spoke to hundreds of current and former friends of founder Jeff Bezos. In the process, he discovered the poignant story of how Amazon became the Everything Store.

Within Amazon.com (AMZN) there’s a certain type of e-mail that elicits waves of panic. It usually originates with an annoyed customer who complains to the company’s founder and chief executive officer. Jeff Bezos has a public e-mail address, jeff@amazon.com. Not only does he read many customer complaints, he forwards them to the relevant Amazon employees, with a one-character addition: a question mark. When Amazon employees get a Bezos question mark e-mail, they react as though they’ve discovered a ticking bomb. They’ve typically got a few hours to solve whatever issue the CEO has flagged and prepare a thorough explanation for how it occurred, a response that will be reviewed by a succession of managers before the answer is presented to Bezos himself. Such escalations, as these e-mails are known, are Bezos’s way of ensuring that the customer’s voice is constantly heard inside the company.

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When Amazon Employees Receive These One-Character Emails From Jeff Bezos, They Go Into A Frenzy; These Are The Sarcastic Things Amazon’s Jeff Bezos Tells Employees When He Gets Angry

When Amazon Employees Receive These One-Character Emails From Jeff Bezos, They Go Into A Frenzy

ALYSON SHONTELL OCT. 10, 2013, 7:38 AM 15,915 18

Jeff Bezos may run Amazon and he may be a billionaire. But he is very accessible to his customers with an easy-to-find email address, jeff@amazon.com. And when his customers aren’t pleased, Bezos isn’t either. Businessweek’s Brad Stone has written a lengthy cover story on Amazon that opens with a bit about Bezos’ email style and shows how important customer service is to him. When a customer sends Bezos an email complaining about something Amazon-related, Bezos forwards the message to the appropriate person at the company. The only addition Bezos makes to the email is one character:

“?”

The recipient then scrambles to solve the issue and must get his or her reply approved by multiple people before responding to Bezos. Read more of this post

Singapore diplomat bitten by graft charges over pineapple tarts

Singapore diplomat bitten by graft charges over pineapple tarts

5:49am EDT

SINGAPORE (Reuters) – First it was sex, then casinos. Now, a Singapore diplomat has been charged with inflating the number of pineapple tarts and bottles of wine carried on official visits in the latest corruption case to hit the squeaky clean city-state. Lim Cheng Hoe, former chief of protocol at the Ministry of Foreign Affairs, allegedly overbilled authorities by around S$89,000 ($71,100) by overstating the amount of gifts bought for official purposes between 2008 and 2012. Read more of this post

The Amazing Apline Swift Bird Fly For Nearly Six Months Straight Without Stopping

These Amazing Birds Fly For Nearly Six Months Straight Without Stopping

LAURA POPPICK, LIVESCIENCE OCT. 9, 2013, 6:50 PM 2,766 2

Scientists have long suspected that the Alpine swift — a swallowlike bird that has a wingspan of about 22 inches (57 centimeters) and a body length of about 8 inches (20 cm) — spends much of its life in flight, based on field observations and radar data collected during its migration. But, until now, researchers have not been able to prove just how long these birds fly without taking a rest. Researchers at the Swiss Ornithological Institute and the Bern University of Applied Sciences in Burgdorf, Switzerland, have collected data showing that the birds take little to no breaks during their migration from breeding grounds in Switzerland to wintering grounds in Western Africa and back again the following year. The team details their findings today (Oct. 8) in the journal Nature Communications. [Quest for Survival: Incredible Animal Migrations] Read more of this post

Mistresses help keep the property bubble aloft in Beijing; state-run Beijing Evening Daily estimated back in 2010 that there were 200,000 mistresses living in apartments in Beijing alone

Mistresses help keep the property bubble aloft in Beijing

By Heather Timmons 4 hours ago

Keeping a mistress is a normal part of life for successful Chinese businessmen and government officials, and in some ways they have become more visible in recent years, playing roles in corruption scandals and even, sometimes, turning in their lovers. They and their big-spending partners may also be contributing to ever-increasing real estate prices in some of China’s biggest cities. That’s because these women, often from rural areas, are regularly kept in apartments that their lovers buy for them in urban centers, near his work or home. The practice has created entire neighborhoods of apartments in big Chinese cities filled with women who would otherwise be living at home with their families, or perhaps sharing a rental. Read more of this post

Liu Yonghao is China’s wealthiest investor: Hurun

Liu Yonghao is China’s wealthiest investor: Hurun

Staff Reporter

2013-10-10

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Chinese millionaire Liu Yonghao — chairman of the agricultural industry giant New Hope Group — is the richest investor in China, after Liu’s assests were made public in a sub-list of the Hurun China Rich List 2013 on Oct. 9, reports the new portal Sichuan Online. Liu and his family have increased their wealth since 1996, when Liu and several company owners launched the China Minsheng Bank, the largest private bank in China. Liu is now the major share holder of the bank with 6.7% of its shares, while he also possesses shares in other businesses across the country. Meanwhile, Gong Hongjia and wife Chen Chunmei, leading angel investors in the Chinese technology sector, came in second on the Hurun sub-list. The couple, who own Hikvision Digital Technology, a leading supplier of video surveillance products and solutions, saw their company grow 300% over the past three years. Lu Jiqiang checked in as the third richest investor on the list. Lu is also one of the major share holders of the China Minsheng Bank, possessing 2.46% of the shares. The 22 investors on the list possess assests totaling 212 billion yuan (US$34.6 billion). Among the top 20, 36.8% of them are in the IT business and 26.3% are in banking, the report said.

Huawei Trains Its Gaze Inward; Chinese Telecom-Gear Supplier Won’t Seek Big Acquisitions in Near Term

Huawei Trains Its Gaze Inward

Chinese Telecom-Gear Supplier Won’t Seek Big Acquisitions in Near Term

JURO OSAWA

Oct. 10, 2013 10:15 a.m. ET

SHENZHEN, China—Huawei Technologies Co. of China won’t consider any major acquisitions at least for the next five years, as the world’s second-largest supplier of telecommunications-network equipment focuses on ways to improve management efficiency and sustain growth, a board director said. “For the next five to 10 years, we will stay focused on internal management improvement,” said Chen Lifang , a Huawei senior vice president in charge of the company’s external relations and one of its 13 board directors. She added that as Huawei is already a sizable company with 150,000 employees, more effort needs to be spent on making its decision-making faster and management leaner. Read more of this post

Marlboro in the Middle Kingdom: Chinese Kids Know Their Smokes; nearly nine out of 10 Chinese children aged 5 and 6 can identify at least one cigarette brand, and roughly one out of five say they expect to smoke when they grow up

October 10, 2013, 1:43 PM

Marlboro in the Middle Kingdom: Chinese Kids Know Their Smokes

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Students posed with cigarette models made from waste paper during a campaign ahead of the World No Tobacco Day in Handan, Hebei province, in May.

Nearly nine out of 10 Chinese children aged 5 and 6 can identify at least one cigarette brand, and roughly one out of five say they expect to smoke when they grow up. Those are some of the breathtaking results of arecent study by Johns Hopkins University on the effects of tobacco marketing on children in low- and middle-income countries. Read more of this post

Google to Bring Chromebook to India in co-branding with Acer for 22,999 rupees ($371), and with HP for 26,990 rupees

October 10, 2013, 4:57 PM

Google to Bring Chromebook to India

R. JAI KRISHNA

In India, the Chromebook will be sold under a co-branding with Acer Inc.2353.TW -0.50% and Hewlett-Packard Co. Google Inc. is bringing its low-priced Chromebook laptops to the Indian market next week, escalating competition with Microsoft Corp.MSFT +0.89% in the market. Google’s laptop is a tad cheaper than most, because consumers don’t have to pay for software that typically comes preloaded. Google already leads with its Android mobile software both within and outside India.

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Don’t laugh at the “man purse”—it’s now a $9 billion luxury business

Don’t laugh at the “man purse”—it’s now a $9 billion luxury business

By Jason Karaian @jkaraian 6 hours ago

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All is not well in the luxury world. Stalwart luxury buyers in China are cutting back, according to recent statements from Burberry and Richemont, among others. New data from research firm Euromonitor International confirms that the industry is in a bit of a slump. Global luxury sales are on track to grow by 3% this year, the slowest rate in four years. Euromonitor reckons that growth will pick up next year, though, driven by its strongest segment in recent years: accessories, specifically men’s accessories. The luxury goods industry has been “manning up” of late, says Fflur Roberts of Euromonitor. A host of luxury brands are opening men’s only stores, tapping a less saturated market undergoing significant shifts in tastes.

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Whole Foods Selling K-Cups in Challenge to Green Mountain

Whole Foods Selling K-Cups in Challenge to Green Mountain

Whole Foods Market Inc. (WFM) started selling organic private-label coffee pods that fit into Green Mountain Coffee Roasters Inc.’s Keurig machines, providing more competition for the single-serve coffee company’s K-Cups. A 12-pack of 365 Everyday Value brand K-Cups is $8.99 at U.S. Whole Foods stores, and there are five varieties, Emily Wright, a spokeswoman for the Austin, Texas-based company, said in an e-mail. Whole Foods, the largest natural-goods grocer in the U.S., has no relationship with Green Mountain, she said. A 24-pack of Green Mountain brand French Roast K-Cups sells for $16.49 on its website. Read more of this post

BlackBerry Breakup Looms as Investors Lose Faith in Buyout

BlackBerry (BBRY) Ltd. is more open to a breakup of the company amid concerns that Fairfax Financial Holdings Ltd. (FFH) may be unable to line up funding or partners for a $4.7 billion buyout, a person with knowledge of the matter said. Companies such as SAP AG (SAP), Cisco Systems Inc. (CSCO) and Samsung Electronics Co. (005930), which were approached last week by BlackBerry advisers, have indicated they’re only interested in parts of the company, people familiar with the discussions said. A breakup would let parties bid for BlackBerry’s most valuable pieces, such as its patents or enterprise network, said the people, who asked not to be identified because the talks are private. Read more of this post

Rail to Royal Mail: the dangers of flawed privatisations

October 10, 2013 11:21 am

Rail to Royal Mail: the dangers of flawed privatisations

By Philip Augar

Intervention addresses the symptoms but not the causes of malfunctioning, writes Philip Augar

Is the UK’s privatised utilities market broken? It is a fair question on the day when Royal Mail – once seen as an untouchable public asset – makes its stock market debut, when Ed Miliband, Labour party leader, finds public resonance with the idea of a price freeze in the energy sector and when the government has to step in to cap rail commuter fares. The need for price intervention illustrates the risks of privatising a state-owned utility. If the regulatory balance is wrong or the competitive structure ineffective, the public ends up paying too much, corporate profits become too high and private sector shareholders get a free ride from taxpayers. Read more of this post

The fast-approaching end of the jumbo jet era; Airlines now want midsized aircraft that are cheap to fly and easy to deploy

October 9, 2013 7:32 pm

The fast-approaching end of the jumbo jet era

By John Gapper

Airlines now want midsized aircraft that are cheap to fly and easy to deploy

With its sale of composite, fuel-efficient A350 jets to Japan Airlines this week, Airbus entered a market that Boeing has, until now, controlled. It also provedBoeing’s point. The era of the grand aviation project, symbolised by Airbus’s decision more than a decade ago to build the A380 as a superjumbo rival to the Boeing 747, is over. Airlines do not want jumbos. They want midsized aircraft that are cheap to fly and easy to deploy – as the Boeing 787 will be if the company can stop its lithium-ion batteries catching fire. Read more of this post

Big fund managers go into battle over tougher US capital rules

October 10, 2013 2:19 pm

Big fund managers go into battle over tougher US capital rules

By Stephen Foley in New York and Gina Chon in Washington

The world’s largest fund managers are preparing a lobbying push to forestall tougher capital rules in the US and greater oversight of their activities, which have been mooted in the name of financial market stability. The industry has reacted angrily to a report last week that suggested companies with trillions of dollars under management might be considered “systemically important”. Read more of this post

SMEs in peripheral eurozone face far steeper borrowing rates

October 10, 2013 2:15 pm

SMEs in peripheral eurozone face far steeper borrowing rates

By Patrick Jenkins, Banking Editor

Small and medium-sized businesses in theperipheral eurozone are having to pay as much as triple the interest rate levied on German SMEs’ bank borrowing, according to a new report on eurozone credit conditions. The higher cost of credit and the contraction of its availability – legacies of the financial crisis and the regulatory crackdown on bank capital – are “starving” SMEs, according to the report, jointly authored by the Institute of International Finance, the global banking industry body, and Bain & Co, the consultancy. Read more of this post

Mother Dies Amid Abuses in $110 Billion U.S. Stent Assembly Line; hospitals paid millions in kickbacks to induce doctors to keep up the pace in U.S. medicine’s binge on stents

Mother Dies Amid Abuses in $110 Billion U.S. Stent Assembly Line

Najam Azmat snaked a catheter on a guide wire into Judi Gary’s groin as he tried to insert a stent in an artery supplying blood to her pelvis and right leg. On an X-ray monitor near where Gary lay, nurses saw blood leakages. The wire seemed to be in the wrong place, nurse Evan Gourley told Azmat. Everything was fine, the vascular surgeon replied. It wasn’t. Azmat tore Gary’s aorta during the December 2005 procedure, according to documents filed with a U.S. Justice Department civil complaint. Nurses asked another surgeon to step in. Gourley left in disgust. Later, he went to administrators at Satilla Regional Medical Center in Waycross, Georgia, with a warning about Azmat. “I told them that he will kill a patient if they let him continue to work,” Gourley said. Officials at the Satilla hospital got at least seven similar warnings about Azmat, according to another nurse’s notes. They let him continue. One of his next patients died. Azmat’s tenure at the 231-bed hospital, as described in interviews and more than 1,000 pages of medical records, internal documents and witness statements that were made public last year, shows the extremes one hospital went to in order to keep its catheterization clinic — or “cath lab” — operating and producing revenue. Other hospitals paid millions in kickbacks — using ghost jobs, padded fees, debt forgiveness or discounted office space — to induce doctors to keep up the pace in U.S. medicine’s binge on stents, according to allegations made in five federal cases and three other private whistle-blower lawsuits. Read more of this post

European Billionaires Surface Holding Stakes in Family Companies

European Billionaires Surface Holding Stakes in Family Companies

A bull market for luxury goods and rising demand for construction equipment and laboratory services has minted three new European billionaires who hold stakes in family-controlled businesses. The fortunes of Marina Giori-Swarovski, an heiress to the Swarovski crystal fortune; Mark Bamford, the youngest son of the founder of U.K. backhoe maker JCB Service; and Gilles Martin, who controls French food and drug tester Eurofins Scientific, have each surpassed $1 billion this year, according to data compiled by Bloomberg. None have been cited individually as billionaires on an international wealth ranking. Read more of this post

Hong Kong Raises Haircut On Treasury Bill Collateral Over Debt Default Fears

Hong Kong Raises Haircut On Treasury Bill Collateral Over Debt Default Fears

Tyler Durden on 10/10/2013 07:44 -0400

While there is hope that DC will engage in its favorite, can-kicking activity any minute and if not resolve then at least push back the funding and debt ceiling stalemate by a few weeks, the reality is that without a deal in seven days, there may be no cash to pay down maturing Bills starting with the October 17 issue whose yield soared to nearly 50 bps yesterday. The reason for the capitulation as was revealed yesterday, is that various money market funds such as Fidelity’s have been selling all paper around the X-Date. This morning the contagion surrounding the use of Bills as collateral has crossed the Pacific, following news that the “Hong Kong’s futures and options market operator will require traders to put up more collateral when using some Treasury bills to back their positions, citing concern that the U.S. is at risk of a default.” In other words, as we forecast on Monday, the debt-ceiling confusion in cash-land has now openly engulfed the repo market, which only makes the states of a debt deal that much higher. Because if the repo, $2.5 trillion money market, and subsequently, the entire $80 or so trillion custodian market freeze up, what happens next will make Lehman seem like a quiet walk in the park. Read more of this post

Google Earth Saves Kenyan Elephants With Drones in Maasai Mara

Google Earth Saves Kenyan Elephants With Drones in Maasai Mara

Standing in his flatbed truck, Marc Goss touches “take off” on his iPad 3 and a $300 AR Drone whirs into the air as his latest weapon to fight elephant poachers around Kenya’s Maasai Mara National Reserve. “It’s an arms race,” said Goss, whose green khaki clothing shields him from thorny acacia branches in the 30,000 hectares (74,132 acres) of savanna he protects. “We’re seeing larger numbers of poachers.” Read more of this post

Password or fingerprint? 53 percent of Americans said they would be willing to replace their passwords with fingerprint scans

PayPal study finds consumers okay with biometrics

By Hayley Tsukayama, Published: October 9

Apple’s newest iPhone may have spurred some debate over whether it’s a good idea to unlock your phone with your fingerprint, but a new study from PayPal finds that a majority of Americans are comfortable with the idea of using their biometric information instead of the pesky passwords that are currently the norm. The survey, sponsored by PayPal and the National Cyber Security Alliance, found that 53 percent of Americans are “comfortable” replacing passwords with fingerprints, 45 percent would opt for a retinal scan, and 41 percent are comfortable with photo identification. Read more of this post

Tongyang chief, wife on travel ban for alleged fraud and breach of trust

Tongyang chief, wife on travel ban

Oct 10,2013

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A woman cries at a rally protesting the financial regulator’s lax oversight of the Tongyang Group’s sales of commercial paper and bonds yesterday at the Financial Supervisory Service in Yeouido, western Seoul.

Prosecutors Tuesday prohibited Tongyang Group Chairman Hyun Jae-hyun and Tongyang Securities CEO Chung Jin-seok from leaving the country, a day after the Citizens’ Coalition of Economic Justice, a civic group, filed a complaint against them for alleged fraud and breach of trust. Hyun’s wife, group vice chairwoman Lee Hae-kyung, and Tongyang Networks CEO Kim Chul are also forbidden from going overseas. Hyun and Lee, daughter of group founder Lee Yang-koo, as well as senior executives at the group, are suspected of selling high-risk bonds to individual investors until just before the financial collapse of five affiliates that filed for court receivership last week.  Read more of this post

Dilbert Creator Scott Adams Presents His 10 Favorite Strips

Dilbert Creator Scott Adams Presents His 10 Favorite Strips

JENNA GOUDREAU OCT. 9, 2013, 6:12 PM 14,194 12

Dilbert, the well-known comic strip by cartoonist Scott Adams about the office everyman and his crew of incompetent colleagues, was the first syndicated comic that focused primarily on the workplace when it launched in 1989. Five years later, it had become so successful that Adams quit his corporate career to work on it full-time.  It wasn’t a straight line to success. Early versions of the comic were rejected by several publications, including The New Yorker and Playboy. It wasn’t until an editor at United Media saw it and recognized her own husband in the character that it finally got its start, says Adams in his upcoming book “How to Fail at Almost Everything and Still Win Big.” Ever since, the comic has explored topics like the inefficiency of meetings, the uselessness of management, and the absurdity of office politics. Exclusively for Business Insider, Adams looked through the archives and shared his 10 favorite Dilbert comics. Below, he explains why he chose each and counts them down to his absolute favorite of all-time.

10) Oct. 10, 2009: “Dream job”

dream job

Courtesy of Scott Adams

“This comic causes the reader to imagine a funny future in which Wally will only pretend to do the assignment. Humor sometimes works best when one suggests what is coming without showing it. People laugh harder when they need to use their imaginations to complete the joke. “I also like comics in which characters are unusually happy about something trivial, evil, or selfish. That juxtaposition is always funny to me. “Another technique I often use involves characters saying things that should only be thought. That creates the inappropriateness that gives it an edge.” Read more of this post

Why Are Hundreds of Harvard Students Studying Ancient Chinese Philosophy?

Why Are Hundreds of Harvard Students Studying Ancient Chinese Philosophy?

By Christine Gross-Loh

Picture a world where human relationships are challenging, narcissism and self-centeredness are on the rise, and there is disagreement on the best way for people to live harmoniously together.  It sounds like 21st-century America. But the society that Michael Puett, a tall, 48-year-old bespectacled professor of Chinese history at Harvard University, is describing to more than 700 rapt undergraduates is China, 2,500 years ago. Read more of this post

No, dear, it’s still Jimmy’s Choos: Tamara Mellon built the brand but didn’t get the credit. Here’s why.

Updated: Wednesday October 9, 2013 MYT 12:41:31 PM

No, dear, it’s still Jimmy’s Choos: She built the brand but didn’t get the credit. Here’s why.

SOUR grapes. That’s the handy idiom that means “unfair criticism that comes from someone who is disappointed about not getting something”. That’s the spot-on description of Tamara Mellon’s autobiography. If you thinking, “Tamara who?” – that is exactly why she is sour as hell. Okay, how about Jimmy Choo? Yes, our famous Malaysian Datuk and the brand of expensive shoes that bears his name. For the uninitiated, Tamara Mellon is a 46-year-old British woman who co-founded Jimmy Choo Ltd in May 1996 with Choo and developed it into the mega brand it is today. She has just released her tell-all book called In My Shoes this month. Even though she sold the company for £100mil (RM514mil) in 2011, it doesn’t seem to have cured her of long pent-up frustration and bitterness over many people. Read more of this post

Who Discovered America?: The Untold History of the Peopling of the Americas

Who Discovered America?: The Untold History of the Peopling of the Americas Hardcover – Deckle Edge
by Gavin Menzies  (Author) , Ian Hudson (Author)

Who discovered America

Greatly expanding on his blockbuster 1421, distinguished historian Gavin Menzies uncovers the complete untold history of how mankind came to the Americas—offering new revelations and a radical rethinking of the accepted historical record in Who Discovered America? The iconoclastic historian’s magnum opus, Who Discovered America? calls into question our understanding of how the American continents were settled, shedding new light on the well-known “discoveries” of European explorers, including Christopher Columbus. In Who Discovered America?he combines meticulous research and an adventurer’s spirit to reveal astounding new evidence of an ancient Asian seagoing tradition—most notably the Chinese—that dates as far back as 130,000 years ago. Menzies offers a revolutionary new alternative to the “Beringia” theory of how humans crossed a land bridge connecting Asia and North America during the last Ice Age, and provides a wealth of staggering claims, that hold fascinating and astonishing implications for the history of mankind.

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Does this map from 1418 prove historian’s controversial claim that the New World was discovered by the Chinese 70 years before Columbus?

Does this map from 1418 prove historian’s controversial claim that the New World was discovered by the CHINESE 70 years before Columbus?

Gavin Menzies, a British historian, claims Chiense Admiral Zheng He set up colonies and sailed round South America before Columbus

Menzies’ new book, ‘Who Discovered America?’ also claims the Chinese have been sailing to the New World since 40,000 BC across the Pacific Ocean

His theories are not widely accepted by academia and he has been labeled a ‘pseudo-historian’

By MICHAEL ZENNIE

PUBLISHED: 12:42 GMT, 8 October 2013 | UPDATED: 14:06 GMT, 9 October 2013

A copy of a 600-year-old map found in a second-hand book shop is the key to proving that the Chinese, not Christopher Columbus, were the first to discover the New World, a controversial British historian claims.  The document is purportedly an 18th century copy of a 1418 map charted by Chinese Admiral Zheng He, which appears to show the New World in some detail. This purported evidence that a Chinese sailor mapped the Western Hemisphere more than seven decades before Columbus is just one of Earth-shattering claims that author Gavin Menzies makes in his new book ‘Who Discovered America?’ – out today, just in time for the Columbus Day holiday. ‘The traditional story of Columbus discovering the New World is absolute fantasy, it’s fairy tales,’ Mr Menzies told MailOnline.

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Mr Menzies believes that this portion of the map depicts the Chinese mapping of North and South America in 1418 – showing major rivers.

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Explorer: Chinese Admiral Zheng He is known to have sailed the to Europe and Africa with a massive fleet of ships. Historian Gavin Menzies says he also reached the New World Read more of this post

Ajay Bijli, the owner of PVR Cinemas, lives the good life but on three principles: It must be understated, serve a functional purpose and have aesthetic value

Ajay Bijli’s Pursuit Of Simple Luxury

by Ashish K Mishra | Oct 9, 2013

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Ajay Bijli, the owner of PVR Cinemas, lives the good life but on three principles: It must be understated, serve a functional purpose and have aesthetic value

A diamond-studded watch, a private island, a business jet, a chauffer-driven super luxurious car, bespoke anything—luxury is limited only by the imagination. And by the depths of your pocket. Ajay Bijli, 46, an entrepreneur who has made a fortune for himself building PVR Cinemas into India’s largest chain of multiplexes (with a turnover of around Rs 1,100 crore) has no such constraints. But, he says, “I am just very reluctant to talk about it because there is no end to luxury.”  Read more of this post

On idioms and political speech: Shooting skinned cats in a barrel

On idioms and political speech: Shooting skinned cats in a barrel

Oct 9th 2013, 15:32 by L.D. | NEW YORK

FLULA BORG, a German DJ and comedian, has recently attracted millions of hits on YouTube with his hilariously confused rants about English idioms. In a video about the expression “shooting fish in a barrel”, Mr Borg seems utterly perplexed. “If I can catch all of the fishes and then put them in barrel, I don’t need to shoot them…that is like, ‘Oh, you know, I have some cake, but I do not just eat it. No, no. I put the cake in a barrel, then I shoot it then I eat it. Those are…two steps addition that you do not need.” He was also particularly upset after he received a text from a girl and his friend said, “Aww, Flula got a booty call!” It was not a booty that was calling him, Mr Borg insisted; it was a person who was texting him. “Booties make call? How the possible of this? … In a science way, show to me how it working.” Read more of this post

Forecasting beset by tendency to think we are good at predictions

Last updated: October 9, 2013 8:13 pm

Forecasting beset by tendency to think we are good at predictions

By Claire Jones, Economics reporter

When it comes to predictions about the economy, our judgments are flawed partly because human beings tend to think they can predict the future better than they can. A speech in May by Ben Broadbent, an external member of the Bank of England’s Monetary Policy Committee, made reference to research by psychologist Daniel Kahneman that highlights the human predilection for seeing patterns in randomness, and drawing inferences from these “patterns” to say what will happen next. Read more of this post