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Euromoney (March Issue)

2012/ 03/ 20 by jd in Global News

“Merkel and Sarkozy should stop wasting time with summits and start running seminars on how to use a washing machine.” The spreads on 5-year credit-default swaps (CDS) show an uncanny link with the percentage of men age 25 to 34 still living at home. In Greece nearly 60% do, followed by Portugal, Italy Spain, and Ireland.

“Merkel and Sarkozy should stop wasting time with summits and start running seminars on how to use a washing machine.” The spreads on 5-year credit-default swaps (CDS) show an uncanny link with the percentage of men age 25 to 34 still living at home. In Greece nearly 60% do, followed by Portugal, Italy Spain, and Ireland.

 

Economist (March 17)

2012/ 03/ 19 by jd in Global News

“Late this year, the world’s two biggest powers will each choose their leaders. The way America does it looks messy and inefficient. China’s bureaucratic method, by contrast, is designed to provide a smooth transition and a continuity of policy.” The Chinese process can be “vicious,” though it’s typically hidden from the public. “The sacking on March 15th of Bo Xilai as party chief of the south-western region of Chongqing provided a rare glimpse…. Mr Bo had seemed destined for the zenith of power in China…. His downfall represents the biggest public rift in China’s leadership for two decades.”“Late this year, the world’s two biggest powers will each choose their leaders. The way America does it looks messy and inefficient. China’s bureaucratic method, by contrast, is designed to provide a smooth transition and a continuity of policy.” The Chinese process can be “vicious,” though it’s typically hidden from the public. “The sacking on March 15th of Bo Xilai as party chief of the south-western region of Chongqing provided a rare glimpse…. Mr Bo had seemed destined for the zenith of power in China…. His downfall represents the biggest public rift in China’s leadership for two decades.”

 

CFO.com (March 13)

2012/ 03/ 18 by jd in Global News

“While any good finance executive will focus first on the costs and revenue opportunities in proposed energy-saving plants, the risks and benefits to company employees and external society will be squarely on his or her radar, because they potentially affect the company’s brand reputation.” Chief Financial Officers (CFOs) will also have their eyes open for sweet spots, “where what’s good for the planet melds seamlessly with what’s good for the bottom line. For example, Costco found that changing its energy consumption helped cut its costs.” The problem is that most environmentally based metrics aren’t linked to financial metrics. For example, when a company reduces its carbon footprint, CFOs want to see the link with “an income statement, balance sheet, or cash-flow statement.” Does the smaller footprint reduce costs, increase sales or reduce liabilities such as lawsuits? “The challenge of sustainability at the corporate level is to find a way to answer that question in hard, numeric, provable ways that take into account the self-interest so basic to our free-enterprise system.”

 

New York Times (March 14)

2012/ 03/ 16 by jd in Global News

An opinion piece by Greg Smith is creating a PR nightmare for his former employer. Entitled “Why I Am Leaving Goldman Sachs,” Smith’s article has become the newspaper’s most e-mailed article. After working nearly twelve years at the firm, Smith wrote the letter on his last day. Smith longs for the once-proud culture that placed value on clients and bemoans the firm’s present atmosphere, which he describes as “toxic and destructive,” focused on making money off clients rather than providing them with the best solutions. “Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.” Smith hopes his letter will wake up the Board of Directors. He urges them to “Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist.”

An opinion piece by Greg Smith is creating a PR nightmare for his former employer. Entitled “Why I Am Leaving Goldman Sachs,” Smith’s article has become the newspaper’s most e-mailed article. After working nearly twelve years at the firm, Smith wrote the letter on his last day. Smith longs for the once-proud culture that placed value on clients and bemoans the firm’s present atmosphere, which he describes as “toxic and destructive,” focused on making money off of clients rather than providing them with the best solutions. “Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.” Smith hopes his letter will wake up the Board of Directors. He urges them to “Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist.”

 

Ethical Corporation (March Issue)

2012/ 03/ 15 by jd in Global News

“For decades, many companies have typically responded to sustainability challenges by pursuing incremental operational improvements. But we are beginning to see an interesting new trend—businesses using sustainability as a tactic for long-term offense, rather than just short-term defence.” Who are these companies? Bosch, BMW Group, Daimler, DuPont, Ecolab, GE, Ikea, Kimberly Clark, Kingfisher, Marks & Spencer, Nike, Philips, Procter & Gamble, Siemens, Toyota and Volvo were among the cited companies. What’s driving the trend? “Leading companies are demonstrating a growing belief that their future profit and growth will be tied to how effectively they respond to looming global challenges including resource scarcity, population growth, and climate change.”

“For decades, many companies have typically responded to sustainability challenges by pursuing incremental operational improvements. But we are beginning to see an interesting new trend—businesses using sustainability as a tactic for long-term offense, rather than just short-term defence.” Who are these companies? Bosch, BMW Group, Daimler, DuPont, Ecolab, GE, Ikea, Kimberly Clark, Kingfisher, Marks & Spencer, Nike, Philips, Procter & Gamble, Siemens, Toyota and Volvo were among the cited companies. What’s driving the trend? “Leading companies are demonstrating a growing belief that their future profit and growth will be tied to how effectively they respond to looming global challenges including resource scarcity, population growth, and climate change.”

 

Wall Street Journal (March 13, 2012)

2012/ 03/ 14 by jd in Global News

Is California a Greek tragedy in the making? “The state lurches from fiscal tragedy to fiscal farce, running deficits in good times as well as bad.” Spending has soared and deficits are routine. Making the problem worse, “California’s economy, which used to outperform the rest of the country, now substantially underperforms. The unemployment rate, at 10.9%, is higher than every other state except Nevada and Rhode Island. With 12% of America’s population, California has one third of the nation’s welfare recipients.”

 

New York Times (March 11, 2012)

2012/ 03/ 13 by jd in Global News

The proposed JOBS Act (an acronym for Jumpstart our Business Startups) is “a terrible package of bills that would undo essential investor protections, reduce market transparency and distort the efficient allocation of capital.” Amazed by the utter lack of memory, the New York Times stands opposed. “We know memories are short in Washington. But Enron was just 10 years ago. And the entire system almost imploded in 2008. There is no excuse.”

 

The Economist (March 10, 2012)

2012/ 03/ 12 by jd in Global News

“The end of cheap China is at hand. Blue-collar labour costs in Guangdong and other coastal hubs have been rising at double-digit rates for a decade. Workers in the hinterland, too, are demanding—and receiving—huge pay increases. China is no longer a place where manufacturers can go to find ultra-cheap hands.”

“The end of cheap China is at hand. Blue-collar labour costs in Guangdong and other coastal hubs have been rising at double-digit rates for a decade. Workers in the hinterland, too, are demanding—and receiving—huge pay increases. China is no longer a place where manufacturers can go to find ultra-cheap hands.”

 

Washington Post (March 9, 2012)

2012/ 03/ 11 by jd in Global News

Japan’s Prime Minister Yoshito Noda writes, “March 11 is etched in Japan’s collective consciousness. Today, on the first anniversary of the Great East Japan Earthquake, which triggered the starkest crisis our country has faced in a generation, we pause to commemorate all of those who suffered. Our thoughts go out to all of the victims of the tragedy….We will not forget the loved ones, friends and colleagues lost in the disaster. Nor will we forget the outpouring of support and international expressions of solidarity that Japan received. For this, we feel deeply indebted and forever appreciative…. Our goal is not simply to reconstruct the Japan that existed before March 11, 2011, but to build a new Japan. We are determined to overcome this historic challenge.”

Japan’s Prime Minister Yoshito Noda writes, “March 11 is etched in Japan’s collective consciousness. Today, on the first anniversary of the Great East Japan Earthquake, which triggered the starkest crisis our country has faced in a generation, we pause to commemorate all of those who suffered. Our thoughts go out to all of the victims of the tragedy….We will not forget the loved ones, friends and colleagues lost in the disaster. Nor will we forget the outpouring of support and international expressions of solidarity that Japan received. For this, we feel deeply indebted and forever appreciative…. Our goal is not simply to reconstruct the Japan that existed before March 11, 2011, but to build a new Japan. We are determined to overcome this historic challenge.”

 

Institutional Investor (March 8, 2012)

2012/ 03/ 11 by jd in Global News

“Euro zone crisis? What crisis? Top European executives, after putting their businesses on sound footing, are focused on longer-term challenges.” As examples, Institutional Investor points to Unilever and BASF, where effective management is successfully leading back to growth. BASF was also singled out by both buy and sell side analysts for having the best IR department.

“Euro zone crisis? What crisis? Top European executives, after putting their businesses on sound footing, are focused on longer-term challenges.” As examples, Institutional Investor points to Unilever and BASF, where effective management is successfully leading back to growth. BASF was also singled out by both buy and sell side analysts for having the best IR department.

 

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