US Elections, Climate Change, and Sandy

Sandy forces climate change on US election despite fossil fuel lobby | Bill McKibben | Comment is free | guardian.co.uk: ""Say something so big finally happens (a giant hurricane swamps Manhattan, a megadrought wipes out Midwest agriculture) that even the political power of the industry is inadequate to restrain legislators, who manage to regulate carbon."

I wish I hadn't written it because the first half gives me entirely undeserved credit for prescience: I had no idea both would, in fact, happen in the next six months. And I wish I hadn't written it because now that my bluff's been called, I'm doubting that even Sandy, the largest storm ever, will be enough to make our political class serious about climate change."

Maybe I'm wrong, though. Maybe – just maybe – the arrival of a giant wall of water in the exact middle of the financial and media capital of our home planet will be enough to get this conversation unstuck. Maybe that obscene slick of ocean spreading unnaturally into the tubes and tunnels of the greatest city on earth will shock enough people to change the debate. New York Governor Andrew Cuomo, at a press conference Tuesday afternoon, allowed as how:

"There has been a series of extreme weather incidents. That is not a political statement, that is a factual statement … Anyone who says there's not a dramatic change in weather patterns, I think, is denying reality."

New York Mayor Michael Bloomberg added:

"What is clear is that the storms we've experienced in the last year or so around this country and around the world are much more severe than before."

Truthfully, I think I'd just as soon see statements like that as carefully thought-out endorsements of climate science. It's experience that changes people: the summer's drought left more than half of American counties as federal disaster areas, and meteorologist Jeff Masters estimates Sandy hit 100 million Americans with "extreme weather". Add in the largest forest fires in Colorado and New Mexico, the hottest month in US history, and the completely absurd summer-in-March heatwave that kicked off our year of living sweatily, and you can begin to understand why the percentage of Americans worrying about global warming has spiked sharply this year. Spiked high enough that even a few politicians are willing to speak out.

Not many. The presidential candidates avoided the topic at all their big public forums – except for Romney's Republican national convention joke about how silly it was to try and slow the rise of the oceans (which probably didn't win him many votes on the Jersey Shore this week). Obama did talk climate with MTV last week, but that venue almost defines the issue's fringe status; his other real discussion of it was with Rolling Stone – global warming is, apparently, only for people with earbuds.

UK forests 'under unprecedented threat from disease' | Environment | The Guardian

UK forests 'under unprecedented threat from disease' | Environment | The Guardian: "The UK's forests are under "unprecedented threat" from foreign pests and diseases, according to the government department responsible for the protection of forests and woodlands.

The ash dieback fungus found in East Anglia last week is just the latest invader to pose a serious threat to UK trees, and government ecologists say that more than 3m larch trees as well as thousands of mature oaks and chestnuts have been felled in the past three years to prevent similar fatal plant diseases from spreading out of control.

"We are under an unprecedented level of threat from a range of exotic pests and diseases, a lot associated with the international trade in live plants," said the Forestry Commission. "There are protections in place but the EU plant health regime is no longer fit for purpose. Too many pests and diseases are still getting through."

More than 100,000 ash trees have already been felled to prevent the spread of ash dieback, or Chalara fraxinea, since the disease was identified in March."

'via Blog this'

The Power of I, as in IKEA

BBC News - Ikea at 25: How has flatpack giant changed the UK?: "It can be disconcerting to walk into a friend's house and be given a glass of water in the same style of tumbler as you've got at home.


Then you sit on the same sofa and put the glass on the same coffee table.

You glance up at the same poster of a meadow and take a book from the same Billy bookcase - probably if this analogy is to be kept alive - one of Stieg Larsson's Millennium trilogy.

Many homes, while well put together, are instantly recognisable from the Ikea catalogue.

Around the world, a Billy bookcase is sold every 10 seconds. The designer Wayne Hemingway is a fan. All the storage units are from Ikea in his house, as is the kitchen.

But Kirstie Allsopp, property consultant and TV presenter, abhors the uniformity. "I find that idea of everyone having the same stuff really scary. We aren't all the same.""

'via Blog this'

Going Bananas...over bananas

BBC News - Bananas could replace potatoes in warming world: "They predict that the world's three biggest crops in terms of calories provided - maize, rice and wheat - will decrease in many developing countries.

They suggest that the potato, which grows best in cooler climates, could also suffer as temperatures increase and weather becomes more volatile.

The authors argue that these changes "could provide an opening for cultivating certain varieties of bananas" at higher altitudes, even in those places that currently grow potatoes.

Dr Philip Thornton is one of those behind the report. He told BBC News that while bananas also have limiting factors, they may be a good substitute for potatoes in certain locations

"It's not necessarily a silver bullet but there may be places where as temperatures increase, bananas might be one option that small holders could start to look at.""

'via Blog this'

Birds pay the price for human development

The Hindu : Life & Style / Society : A home for the birds: "The house sparrows that once chirruped around in large numbers are now spotted rarely. “Blame it on high-rise buildings, lack of greenery, and radiation from the increasing number of cell phone towers. Development has shooed the little birds away from our neighbourhood,” says M. Sanjai Gandhi, chairman of Vaagai Foundation. It spreads awareness on rainwater harvesting, and environment conservation.

The Foundation is trying to bring many birds back. It has placed bamboo nests at various locations in the city, especially where there is greenery, to attract the birds. One of its first stops has been at the Coimbatore Zoo. More than 10 bamboo nests have been placed for the love birds to nest and breed. “As there are no trees, birds have no space to build nests. We want to encourage people to place the bamboo nests at their homes too,” says Sanjai. The small bamboo nests, they say, provides a comfortable nesting ground for a number of birds such as the finches, munias, babblers, and bee eaters. The nests can be kept on terraces, windows and compound walls."

'via Blog this'

How Romney exploits honest taxpayers, using a Charitable Remainder Trust- using all CRUTches

Romney Avoids Taxes via Loophole Cutting Mormon Donations - Bloomberg: "The charitable remainder unitrust, as it is known, is one of several strategies Romney has adopted over his career to reduce his tax bill. While Romney’s tax avoidance is legal and common among high-net-worth individuals, it has become an issue in the campaign. President Barack Obama attacked him in their second debate for paying “lower tax rates than somebody who makes a lot less.”
In this instance, Romney used the tax-exempt status of a charity -- the Mormon Church, according to a 2007 filing -- to defer taxes for more than 15 years. At the same time he is benefitting, the trust will probably leave the church with less than what current law requires, according to tax returns obtained by Bloomberg this month through a Freedom of Information Act request."

In general, charities don’t owe capital gains taxes when they sell assets for a profit. Trusts like Romney’s permit funders to benefit from that tax-free treatment, said Jonathan Blattmachr, a trusts and estates lawyer who set up hundreds of such vehicles in the 1990s.

Near Zero

“The main benefit from a charitable remainder trust is the renting from your favorite charity of its exemption from taxation,” Blattmachr said. Despite the name, giving a gift or getting a charitable deduction “is just a throwaway,” he said. “I used to structure them so the value dedicated to charity was as close to zero as possible without being zero.”

When individuals fund a charitable remainder unitrust, or “CRUT,” they defer capital gains taxes on any profit from the sale of the assets, and receive a small upfront charitable deduction and a stream of yearly cash payments. Like an individual retirement account, the trust allows money to grow tax deferred, while like an annuity it also pays Romney a steady income. After the funder’s death, the trust’s remaining assets go to a designated charity.

Bangalore Trash and companies like Infosys - the CEOs are either stupid, corrupt or grossly indifferent

India’s Plague, Trash, Drowns Bangalore, Its Garden City - NYTimes.com: "“I’m trying to give you a very rosy picture, but don’t get taken in,” he said after outlining his plans. “It’s a 50-year-old story, and there are certain constraints in the system.”

In the past, private sector companies grew like gangbusters in part by shutting out the rest of India and avoiding interactions with a dysfunctional and corrupt government. But top executives here now say they can no longer turn their backs on the chaos that surrounds them. “Building these islands, or expanding them to become the whole of India, I don’t believe will work,” said S. Gopalakrishnan, executive co-chairman of Infosys, India’s leading technology giant. He gestured out the window at his company’s immaculate campus, which included a glass pyramid, food courts, basketball courts and gardens. “At some point, the resistance from the outside world will overwhelm them.”
Indeed, India’s dysfunction is now taking a toll on Infosys’ well-known productivity, Mr. Gopalakrishnan said. His employees’ commutes are longer, their fights with schools more intractable. “If you have just 100 employees, the impact is not so much,” he said. “But with 150,000 employees, more and more the environment affects us as individuals, and, yes, it slows things down. At some point, you can’t shut your mind to what is happening around you.”"

'via Blog this'

Big History theories pose latest challenge to traditional curriculum | Education | The Observer

Big History theories pose latest challenge to traditional curriculum | Education | The Observer: "
Big History, a movement spearheaded by the Oxford-educated maverick historian David Christian, is based on the idea that the academic study of the past can no longer be carried out from a nationalist perspective. Christian and his acolytes argue that the discipline will progress only once it charts human activity with a global scope, looking at chains of cause and effect that do not respect national borders. On a Big History course, the species Homo sapiens is not even mentioned until more than halfway through."

'via Blog this'

Jokes, not always funny

How power transforms the presidential brain - The Irish Times - Sat, Oct 27, 2012: "Three years later, at the 2012 Washington White House correspondents’ association dinner, the president continued his now famous series of light-hearted singing and jokey press outings with a warning to the Jonas Brothers band about his daughters: “Sasha and Malia are huge fans but, boys, don’t be getting any ideas. I have two words for you: predator drones. You will never see it coming. You think I’m joking?”

The tasteless joke about the predator drones – imagine the same joke being made about a Texas execution – was in line with the sort of decline in empathy that even small amounts of power can cause. This is not to say that Obama would have triggered nuclear war in the way many of Kennedy’s advisers would have – on the contrary, his handling of the Iranian nuclear crisis has been deft, moderate and effective, if the current Iranian economic meltdown is a measure of that."

'via Blog this'

China: paranoid behaviour of the wealthy elite

Wen Jiabao's £1.68bn family wealth: China furious at US exposé | World news | The Guardian: "China has lashed out at a US newspaper report that premier Wen Jiabao's family has amassed vast wealth worth at least $2.7bn (£1.68bn), censoring the New York Times website and questioning the paper's motivations.

The story said Wen, widely seen as the humane face of China's top leadership, was not directly linked to the holdings. But the association with such a fortune was in stark contrast to the man-of-the-people image he has cultivated.

A foreign ministry spokesman said the report "blackens China's name and has ulterior motives". Censors blocked the paper's Chinese language website, at least partially obstructed access to its main site, and banned microblog searches for New York Times in English and Chinese."

'via Blog this'

BBC News - Exercising in your 70s 'may stop brain shrinkage'

BBC News - Exercising in your 70s 'may stop brain shrinkage': "Exercising in your 70s may stop your brain from shrinking and showing the signs of ageing linked to dementia, say experts from Edinburgh University.

Brain scans of 638 people past the age of retirement showed those who were most physically active had less brain shrinkage over a three-year period.

Exercise did not have to be strenuous - going for a walk several times a week sufficed, the journal Neurology says."

'via Blog this'

Quality not quantity to tackle fraud - The Irish Times - Thu, Oct 18, 2012

Quality not quantity to tackle fraud - The Irish Times - Thu, Oct 18, 2012: "he pressure to secure grants can force scientists to publish work that offers little value – and can lead to misconduct

SCIENCE IS A human activity, and it is not immune to misconduct. The latest review of misconduct, by FC Fang, RG Steen and A Casadevall, has been published online this month in the Proceedings of the National Academy of Sciences. The review highlights an increase in misconduct by scientists, a worrying trend that calls for urgent reforms in the system to reduce the pressures that tempt some scientists to misbehave.

Fang and colleagues analysed the number and frequency of retraction of flawed publications from scientific journals in the biomedical and life-science fields. They used the PubMed database that references more than 25 million articles published since the 1940s. PubMed is maintained by the US Library of Medicine. They analysed the 2,047 articles indexed by PubMed as retracted on May 3rd, 2012. Retracted articles were classified under the headings fraud (data fabrication or falsification), suspected fraud, plagiarism, duplicate publication (publishing the same data in two or more journals), error, unknown, or other reasons."

'via Blog this'

EU and flyer protections

Airlines must pay for delays, says court - The Irish Times - Wed, Oct 24, 2012: "EUROPEAN AIRLINES will have to compensate passengers by up to €600 if their flights are delayed by over three hours following a landmark ruling by the European Court of Justice yesterday.

Europe’s highest court upheld a 2009 decision which ruled that passengers flying within the EU who suffer significant flight delays have the same rights to compensation as passengers whose flights are cancelled."

'via Blog this'

The difference between a leader like Sir Branson and a non- wage payer like Mallya

Unmoved by Kingfisher Airlines crisis, Vijay Mallya to attend Indian Grand Prix - The Economic Times: "NEW DELHI: Sahara Force India team principal Vijay Mallya is expecting another spectacular Indian Grand Prix over the weekend, saying a double points finish at the Buddh International Circuit (BIC) will be a fitting result for the team's home race.

Mallya, who has been away from public glare following the suspension of his Kingfisher airlinesBSE -4.59 %, will attend the Oct 26-28 event at BIC.

"I remember how proud I felt last year to see our cars racing in India in the colours of the Indian flag. It was a moment I had dreamed about and a great sporting achievement for our country," Mallya said in a statement Tuesday. "

'via Blog this'

Amazon- writing the book on tax manipulation

Amazon makes UK publishers pay 20% VAT on ebook sales | Technology | The Guardian: "Amazon is forcing British publishers to cover the cost of a 20% VAT charge on ebook sales – even though the true VAT cost to the online retailer is only a fraction of that amount under its generous Luxembourg-based tax regime.

The firm is able to wield such power over publishers because it has a near monopoly of the UK digital book publishing market. According to reliable estimates, it sells nine out of 10 ebooks in the UK, while using its Luxembourg tax status to wring more profitable terms from publishers.

Companies such as Amazon collect the VAT levy from consumers before passing it on to governments. In the case of Amazon's UK ebook sales, it only has to pass 3% to Luxembourg. If it was based in the UK it would have to hand over 20%."

'via Blog this'

The fungi-cycle of life

Leaf-kicking, conker-bashing schoolboys beware - The Irish Times - Sat, Oct 20, 2012: "ANOTHER LIFE: IN THE VASTLY DISPARATE world of nature’s fungi, moist autumn is the time for growth and propagation, not only of colourful mushrooms in the woods, hoisted up to spread the spores of underground mycelia, but also of moulds and mildews, rusts and rots.

Furry white botrytis stalks the lettuce in the polytunnel; dark smudges of mould begin to shade the tunnel’s skin. “Mellow fruitfulness” attends the sweet scent of ripening apples, but also the musky perfumes of decay.

A lot of fungal action renews the nourishment of plant life, season by season, pouring out enzymes to digest the cellulose and lignin of fallen leaves – part of the recycling of nutrients for the spring."

'via Blog this'

Localization

Kellogg India to take a second shot at localising its India portfolio - The Economic Times: "The Indian arm of the $13-billion world's biggest cereal maker joins the growing number of multinationals being forced to localise and adapt to local tastes. India is the only country where Yum Restaurants' owned KFC and Pizza Hut sell a 'thali' concept; McDonald's aloo tikki burger remains the burger-and-fries chain's largest selling product in India; and US sandwich chain Subway India sells hot subs -- in almost all other markets it sells its trademark product cold.

But not all localised products work. McDonald's steamed veggie muffins, for instance, didn't. And PepsiCo's totally localised innovation - non-aerated nimbu pani Nimbooz - is not too visible on shop shelves, at least in the non-summer months."

'via Blog this'

Supply Chain Integrity

IT supply chain integrity will be among top security concerns by 2017: Gartner - The Economic Times: "NEW DELHI: Enterprise IT supply chains will be targeted and compromised, forcing changes in the structure of the IT marketplace and how IT will be managed moving forward, according to research firm Gartner. By 2017, IT supply chain integrity will be identified as a top three security-related concern by IT leaders in global 2000 companies.

These findings are part of Gartner's Maverick research, meant to spark new, unconventional insights.

Supply chain integrity is the process of managing an organization's internal capabilities, as well as its partners and suppliers, to ensure all elements of an integrated solution are of high assurance. The need for integrity in the IT supply chain is necessary, whether the solution is developed in-house or purchased from a third party, according to a Gartner release."

'via Blog this'

Coffee and Tea, North and South, India and Starbucks

India should be one of our top five markets over time, says Starbucks CEO - The Economic Times: "These prices are at a moderate premium to that of largest local rival Cafe Coffee Day, which has around 1,350 coffee chains. It sells a cup of coffee at around 80 and cold coffee and beverages for less than 150.

Romneyland to Romnesia

Obama: GOP nominee suffering from 'Romnesia' - First Read: "“He's changing up so much -- backtracking and sidestepping. We've got to name this condition that he's going through. I think ... I think it's called 'Romnesia,'" he said as the crowd of 9,000 erupted into cheers and applause. “Now, I'm not a medical doctor but I do want to go over some of the symptoms with you. Because I want to make sure nobody else catches it.”"

'via Blog this'

The Republican FUD factor against Obama

Mitt Romney's advice to business leaders on employee voting – it's legal | Tom McCarthy | World news | guardian.co.uk: "Romney was speaking on a conference call that was sponsored by the National Federation of Independent Businesses, as part of a series that had previously featured Newt Gingrich, Rick Perry and Michele Bachmann. He had been talking about why Barack Obama is bad for business. Then he encouraged employers to "make it very clear to your employees" how they feel about the presidential race:

I hope you make it very clear to your employees what you believe is in the best interest of your enterprise and therefore their job and their future in the upcoming elections. And whether you agree with me or you agree with President Obama, or whatever your political view, I hope — I hope you pass those along to your employees. Nothing illegal about you talking to your employees about what you believe is best for the business, because I think that will figure into their election decision, their voting decision and of course doing that with your family and your kids as well."

'via Blog this'

Tricky Tax issues

Ryanair accused in northern Italy of evading tax to value of €12m - The Irish Times - Wed, Oct 17, 2012: "THE PUBLIC Prosecution’s office in Bergamo, northern Italy, has accused Ryanair of tax evasion, estimated at €12 million.

Speaking to The Irish Times last night, Bergamo state prosecutor Maria Mocciaro said she expected to bring formal charges against Ryanair, chief executive Michael O’Leary, and the company’s legal adviser Juliusz Komorek, “very shortly”.

In essence, the state prosecutor argues that Ryanair has been treating its 220 employees at Bergamo’s Orio al Serio airport as “Irish” employees, with an Irish contract signed in Dublin. That way, the company has paid a lower rate of social security contributions, given that the Italian rate is 37 per cent as opposed to 12 per cent in Ireland.

Ryanair may well argue that it does not have permanent Italian headquarters and that its employees work for an Irish-registered airline. The state prosecutor, however, argues that the employees, to all intents and purposes, work in Italy and that therefore their social security contributions should be paid in Italy."

'via Blog this'

Intimidation the Right Way, or the Koch way

Koch brothers to workers: Vote for Romney or 'suffer the consequences' - Bottom Line: "Employees of a paper company owned by the outspoken billionaire Koch brothers received a mailing warning that they could “suffer the consequences, including higher gasoline prices, runaway inflation, and other ills" if they voted for candidates not supported by Koch-owned companies or its political fund-raising arm.
The company also provided workers with a list of those candidates it supports. At the top: Mitt Romney, according to media outlet In These Times, which broke the story. “The packet also included an anti-Obama editorial by Charles Koch and a pro-Romney editorial by David Koch,” it said."

'via Blog this'

Slimming down, the Fat way

Fat tax could swell exchequer coffers by over €180m a year - The Irish Times - Mon, Oct 15, 2012: "LEADING ECONOMISTS were told at the weekend about a study that details a separate tax for saturated fat, added sugar and salt, and concludes that a levy on all three could generate €188 million a year for the exchequer.

Authors Maria Murray of Trinity College Dublin and Micheál Collins of the Nevin Economic Research Institute told the gathering including economists attached to government departments that the direct effect on consumers would be quite small. But it could lead suppliers to reduce fat and added sugar and salt in products.

The cash generated could be used for health promotion campaigns. The economists’ warning to Government was: “There will be no effect other than revenue unless you spend the revenue on generating change.”"

'via Blog this'

'OctoNovemCember'?

'OctoNovemCember'? Retailers speed holiday calendar - Money - TODAY.com: "The group has even gone so far as to trademark a term for the phenomenon, “OctoNovemCember,” and it plans to center a new marketing campaign — complete with a mascot, the Pumpkin-Headed Turkey Claus — around the idea.
RetailMeNot’s research shows that only 15 percent of consumers wait until after Cyber Monday — the Monday after Thanksgiving, which now marks the end of the Thanksgiving weekend shopping frenzy — to begin their shopping. Far more, some 32 percent, said they are done with their holiday shopping by the end of Cyber Monday."

'via Blog this'

Soda Industry - Capitalism for me, Socialism for everyone else

Soda Industry Sues to Stop Bloomberg’s Sales Limits - NYTimes.com: "The American soft-drink industry, joined by several New York restaurant and business groups, filed a lawsuit on Friday that aims to overturn restrictions, proposed by Mayor Michael R. Bloomberg and approved by the Board of Health, on sales of large sugary drinks at many dining locations in the city.

The suit, filed in State Supreme Court in Manhattan, contends that the Board of Health did not have the authority to pass the new rules, which limit the size of sweet drinks to 16 ounces or less at restaurants, street carts, and entertainment and sports sites. The rules, approved last month, are scheduled to take effect in March"

'via Blog this'

Soda Industry - Capitalism for me, Socialism for everyone else

Soda Industry Sues to Stop Bloomberg’s Sales Limits - NYTimes.com: "The American soft-drink industry, joined by several New York restaurant and business groups, filed a lawsuit on Friday that aims to overturn restrictions, proposed by Mayor Michael R. Bloomberg and approved by the Board of Health, on sales of large sugary drinks at many dining locations in the city.

The suit, filed in State Supreme Court in Manhattan, contends that the Board of Health did not have the authority to pass the new rules, which limit the size of sweet drinks to 16 ounces or less at restaurants, street carts, and entertainment and sports sites. The rules, approved last month, are scheduled to take effect in March"

'via Blog this'

When hiring 6000 is a big drop

Infosys to announce 12,000 new promotions, hire 6,000 from campuses - The Economic Times: "BANGALORE: IT services firm InfosysBSE -5.36 % will hire 6,000 students from engineering and MBA colleges this year. This is a sharp drop compared with the 19,000 they hired last year.

Also check: Why Infosys CFO V Balakrishnan is stepping down

Infosys announces 6-8% salary hike effective from October

But Human Resources head Nandita Gurjar said if needed Infosys would hire more through off-campus placements. Off-campus hiring takes place when companies recruit students who have not been placed during the regular hiring season.

The firm will also announce 12,000 new promotions from January-April 2013 in addition to the 20,000 promotions it had announced earlier for April to December 2012. The company's employee satisfaction study, which takes places every 18 months will happen in January as well, said the HR Head."

'via Blog this'

PayPal, not as Pal-ly

PayPal plans first job cuts since 2008 financial crisis - The Economic Times: "SAN FRANCISCO: PayPal is planning to cut as much as 3 percent of its workforce as the payments division of eBay Inc looks to streamline its operations under new President David Marcus, a person familiar with the situation said on Friday.

The reductions are expected to total between 300 and 400 and be focused in product development, technology and marketing, the person said on condition of anonymity because the plans are not public. PayPal has almost 13,000 employees.

The job cuts will be PayPal's first major reductions since the financial crisis in 2008. "

'via Blog this'

A great story one can bike with

Number of cycling commuters rises dramatically - The Irish Times - Fri, Oct 12, 2012: "CYCLING TO work, college or school has risen by 15 per cent nationally since 2006 and – more dramatically – by more than a third in Dublin, Dún Laoghaire-Rathdown and Cork, according to an analysis of last year’s census.

Jimmy Stagg, chairman of the Irish Bicycle Business Association (IBBA), said the figures “show that the Government’s support for cycling as a means of transport is working” and Census 2011 proved that “people will switch to cycling” with the right kind of support.

However, the results are not uniform throughout the State. Although Dublin city recorded an increase of 34 per cent, Dún Laoghaire-Rathdown 36 per cent and Cork 33 per cent, the number of people cycling in Limerick fell by 5 per cent and in Waterford by 9 per cent."

'via Blog this'

Yum...for Yum! but what about the health costs?

Yum Plans to Spend $100 Million in India to Expand Restaurants - Bloomberg: "Yum! Brands Inc. (YUM), owner of the KFC and Taco Bell restaurant brands, said it will spend $100 million in four to five years to expand in India, including the addition of 100 outlets in the country this year.
The expansion is part of a plan to double stores in India and some neighboring countries to 1,000 by 2015, Niren Chaudhary, president of Yum in India, said yesterday in an interview in Mumbai.
Chief Executive Officer David Novak in July said Yum is following in India the strategy adopted in China, which accounts for 44 percent of its revenue. The International Monetary Fund this week cut its 2012 economic growth forecast for India and said it expects expansion to accelerate to 6 percent next year as overseas markets improve and a recent government policy revamp boosts confidence."

'via Blog this'

Tax breaks - meant for low income earners, used by low and high income earners

Billionaires Get 'Low-Income' Tax Breaks in Condo Tower - Yahoo! Finance: "But they may also get a less publicized benefit: tax breaks of more than $150,000 a year from a program aimed at low-income housing.
According to financial documents obtained by CNBC, One57 may receive a tax abatement under a long-existing city program designed to provide more low-income housing. The program, known as 421-a, gives developers tax breaks for 10 to 20 years, which are then passed on to buyers. At One57, those savings may be substantial."

'via Blog this'

Walmart's India push

Walmart to source locally in India to keep front-end retail prices low by 10%-15% - The Economic Times: "GURGAON: US retail giant Walmart is planning a series of partnerships with small and mid-level suppliers in India across product categories to create a big list of private label brands that will be priced substantially lower - as much as 10-15% - than established products and brands.

The move is part of the company's strategy to go deeper into the Indian market and create cost-effective and efficient models of local procurement to keep front-end retail prices low, Raj Jain, MD & CEO of Bharti Walmart, has said.

"We will find suppliers, and make it together. There are so many categories where brands are not important, but functionality is," Jain told TOI, while speaking about the front-end retail strategy of the company, days after the government's nod to allow foreign retailers in multi-brand retail.
"

'via Blog this'

College culture for beginners- a fun compilation

100 things you need to know about college life - The Irish Times - Tue, Oct 09, 2012: "100 things you need to know about college life
Negotiating your way around the first few months of college takes a bit of know-how and nerve. GRÁINNE FALLER, PETER McGUIRE and EOIN CUNNINGHAM have compiled some tips. "

'via Blog this'

Open and shut case in India's MBA schools

225 B-schools, 52 engineering colleges close in 2 years - The Economic Times: "On the academic floor, the Master of Business Administration programme was once supreme. Arrogantly and unambiguously, it became the final sign-off to schooling, attracting not only those interested in business but also those who wanted to master the tools of management.

Now, for the first time, overall growth of MBA education is negative in the books of the All India Council for Technical Education (AICTE). In 2011-12, 146 new B-schools came up and 124 that were already running closed down. This year so far, 101 management colleges have closed down, only 82 have started.

Similar is the story with the Master of Computer Application (MCA) course—84 colleges stopped offering the programme this year; only 27 started MCA courses. "

'via Blog this'

Myth of the wisdom of the crowd

Romney Is Unwise to Believe in Wisdom of Markets - Bloomberg: ..."In some clever experiments, mathematician Jan Lorenz and others from the Swiss technology university ETH Zurich tested how ordinary human interactions affect the wisdom of crowds. They had volunteers answer questions -- such as “How many murders were there in Switzerland in 2006?” -- for which the true answers were known. In some trials, the participants knew what others chose (in detail, or on average) before making their own choice."

Not Wise

As it turns out, the crowd really isn’t so wise, even when people do act on their own. The average response on the murders question, with no social influence, was 838, compared with a true number of 198. The error reflects a known bias: When people try to estimate numbers for things they know little about, they often tend to guess for the right scale or magnitude. Is it roughly 10, 100 or 1,000? That’s a useful thing for individuals to do, but it doesn’t make a crowd wiser.

When given access to others’ estimates, the participants did even worse. They tended to revise their own guesses to fit more closely with those of others, a dynamic that pushed the average answer toward the periphery of the range of estimates. This is doubly discouraging, because the narrowing range of individual opinions makes the group appear more certain of its answer. In short, we have a recipe for stupidity.

The illusory certainty of the crowd also gets transferred to individuals. Interviews after the experiments found that social influence, while it didn’t make the crowd’s estimate any more accurate, did fill the participants with a strong belief in the group’s infallibility. Rather than the “wisdom of crowds,” we have the “unwarranted confidence of crowds.” I can’t help but relate this to some of the biggest blunders of recent years, such as the belief that Iraq had weapons of mass destruction and the expectation that house prices would only go up. (There’s some further discussion of these experiments on my blog.)

Now let’s think again about whether markets know best about anything. It’s hard to imagine a more socially influenced environment than modern finance, with rumors flying through the business press and corporate boardrooms, fund managers herding like cattle to fashionable investments, financial analysts mostly making the same predictions as other financial analysts. We have a host of reasons to expect very little wisdom in the verdict of the crowd as expressed in the market.

Whoever wins the presidential election, the market will react. If we have to give it a personal spirit, it will “render its verdict.” It won’t be inherently wise or anything else. Up, down, left, right or inside out, the result won’t tell us much about the wisdom of current policies. It’s just the market, not a miraculous machine for good governance.

(Mark Buchanan, a theoretical physicist and the author of “The Social Atom: Why the Rich Get Richer, Cheaters Get Caught and Your Neighbor Usually Looks Like You,” is a Bloomberg View columnist. The opinions expressed are his own.)

Cigarette Packaging: Not Kool anymore

Marlboro Box Defaced in Australia Where Future Is Now - Bloomberg: "Well, the future of cigarette packs is on display in Australia, and it’s not that pretty: large, graphic images of gangrenous limbs and cancer victims, with brand names printed in a uniform font on a background legally defined as “drab dark brown.”
Tobacco products complying with the world’s first plain- packaging laws have started arriving in stores, as an Oct. 1 manufacturing ban on the country’s A$10 billion ($10 billion) tobacco industry comes into force, Bloomberg Businessweek reports in its Oct. 8 issue. While a U.S. court in August blocked the first change to that country’s tobacco health warnings in more than two decades, more stringent plain- packaging rules like Australia’s are already being examined in the U.K., New Zealand, Turkey, and the European Union."

'via Blog this'

India:bye bye bicycles

Bicycle are eco-friendly and cheap, but Indians won’t swap cars for them - The Economic Times: "There are now reports that Italians are even resurrecting rusty models from their garages and getting them all spruced up rather than buying a second car. If the famously car-crazy Italians are opting for La Bicicletta instead of more racy accoutrements of La Dolce Vita, the world may well be wheeling round to a different mode of living, not merely transport.

But not India. Despite the unhappiness over inexorably rising fuel prices, the chances of a bicycle movement taking off as an alternative here, however, are far slimmer than the average potential buyer. Though India is the world's second-largest producer of bicycles, no matter how you peddle it, long commutes to work and leisure places, not to mention frequently inclement weather and road conditions, will stack up convincingly against the advantages of self-propelled two-wheelers, even in these somewhat straitened times."

'via Blog this'

B Corp: the certification details

Are B Corps redefining business for the 21st century? | Guardian Sustainable Business | Guardian Professional: "Individuals have ideas. The good ones attract followers. The right followers generate a movement. The transition from one to another is not always easy to identify, and harder still to explain.

Has the B Corp idea arrived? It's impossible to say for sure, but Andrew Kassoy must be quietly confident. More than 620 companies have signed up. Some, such as the clothing retailer Patagonia, are seriously big players. Even global statesmen are singing B Corp's praises.

"We don't know him or anything", says Kassoy, in reference to former US president Bill Clinton, who recently waxed lyrical about the B Corp concept during a speech at Oxford University. "I guess someone must have been talking to him about us."..

B Corp, or B Corporation to give it its full name, is a response to this sea change. At its most basic, it's a certification scheme. Companies sign up, undergo a self-assessment and have their social and environmental credentials independently verified. If their policies and performance pass muster, they are allowed to join the B Corp club.

Kassoy, who came up with the original B Corp idea five years ago with two course mates from Stanford University, accepts that there's already "an alphabet soup of certifications" out there. Isn't this just another? He insists not. His, he says, is "comprehensive".

Kingfisher difference between beer and airline: beer is the one flying high

Kingfisher Airlines declares partial lockout, suspends flights till Thursday - The Economic Times: "MUMBAI: Kingfisher Airlines, late Monday evening, declared a "partial lockout with immediate effect", ascribing the move to a series of "protracted and unabated incidents of violence, criminal intimidation, assault, wrongful restraint" by a section of non-management engineering staff.

The email from Chief Executive Officer Sanjay Agarwal, sent out at 10 pm to his colleagues, said the "illegal actions", including the strike, has forced the airline to ground all its aircraft. "The partial lockout is declared with immediate effect in respect of the non-management employees belonging to the engineering and flight operations departments," Agarwal said in his email. "

'via Blog this'