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Angela Merkel's experience with the reunification of East and West Germany and her views of the eurozone crisis
01/30/2011
The perceptions of the eurozone crisis of ordinary Germans and of former East German Angela Merkel are colored by the period of reunification of the two Germany's. This was paid for with a"solidarity surcharge" tax paid by Germans amounting to $1.7 trillion and led in its early stages to 4 million unemployed in the eastern part and 20% unemployment. It took over a decade for East Germany to build new modernized industries in the larger cities of the east, but still leaves the rural parts of former East Germany in a neglected state as young peoplemoved out. During this period industry in the west also regained lost global competitiveness, especially in industries such as automobiles and advanced machinery, using wage restraint agreements with unions and increases in productivity. Germans see the need for eurozone countries in the southern part of Europe needing to make similiar sacrifices and see the tax evasion in Italy and Greece as unacceptable. The real estate bubble, the lack of transparency for banks bad loans, and out of control regional spending in Spain is also seen in a similiar light. Greece is seen as the most egregious offendor because of the bad financial accounting that grossly understated the extent of the bad loans. Less publicized in Germany is the role played in the bad loans through poor lending practices of German and French banks and that as experts have pointed out Germany was to some extent bailing out German banks when it was bailing out Greece- till German banks reduced their exposure to Greece in 2011.
Linked Articles
In former East Germany, anxious residents resent paying for Europe’s problems - The Washington Post
Washington Post 06/21/2012
Merkel's Defense of Euro Forged in East GermanyNew York Times 01/30/2011
How Samsung jumped ahead of Sony in the smartphone market- the dismal failure of the Sony-Ericsson joint venture
01/07/2011
The glaring weaknesses of the Sony-Ericsson mobile joint venture was the slow decisionmaking and the inability to take advantage of Sony's strengths in manufacturing and its companywide technological capabilities. As late as 2011 Samsung was struggling behind other competitors. A key advantage was the quick decisionmaking and marshalling of resources within the company for the smartphone effort in Samsung. The joint venture proved to be a disaster for Sony.
Linked Articles
Samsung Moves in Smartphone Race
Wall Street Journal 01/07/2011
Sony Stakes Recovery on New SmartphoneWall Street Journal 03/01/2013
Failures in China's financial system as seen by two bankers
12/11/2010
Failures in China's banking system as seen by two bankers Walter and Howie. The risks to the Chinese economy of real debt to GDP ratios that are upwards of 80% of GDP when local government and other debt that would end up as sovereign debt is taken into account. The inability of the system in China to control lending to state enterprises and local government.
Linked Articles
China's financial system: Look again
Economist 12/11/2010
Beijing's Financial Day of Reckoning Is NearWall Street Journal 06/21/2011
The warnings on trade in 2010-2011 and sharply shifting public sentiment in the U.S. across all age, income and education groups
10/02/2010
A WSJ poll in 2010 showed that between 1999 and 2010 public sentiment had completely changed seeing trade as hurting American workers. A study by counties in the U.S. by Autor, Hanson, and Dorn showed the damage done by trade policy for American manufacturing workers. By March 2016 in the U.S. presidential election Michigan primary large gains were made by Republican and Democratic candidates opposing trade agreements including TPP negotiated by president Obama.
Linked Articles
Tallying the Toll of U.S.-China Trade
Wall Street Journal 09/27/2011
Americans Sour on TradeWall Street Journal 10/02/2010
Job saving in Germany, "kurzarbeit" and the experience of piecemeal implementation in France by 2014
07/29/2010
Piecemeal implementation of "kuzarbeit" type job preservation efforts leads to failure in France with unemployment reaching 10.4% by the third quarter of 2014, according to Insee. Proper implementation would require changes in the legal system, and a change in the culture for business, trade unions.
Linked Articles
French Attempt at German-Style Labor Reform Flounders
Wall Street Journal 12/05/2014
The Price of Saving Jobs in GermanyBusinessWeek 07/29/2010
Andy Grove of Intel and a reminder about Silicon Valley's role now missing role as a serious innovator and job creator at home
07/01/2010
Andy Grove reminded Silicon Valley about the dangers of forgetting manufacturing's important role in the U.S. in 2010. This is even more true today with the working class lagging behind in this recovery. He asked at the time what kind of society are we creating with professionally employed workers and lots of unemployed. It reminded him of 1932 with troops holding bayonets facing unemployed people outside the White House, and of his days in Hungary in the 1956 uprising. Grove also called for serious innovation which he did not see happening at the time in Silicon Valley.
Linked Articles
Andy Grove’s Warning to Silicon Valley
New York Times 03/25/2016
Andy Grove: How America Can Create JobsBusinessWeek 07/01/2010
Japan's view of China as a low cost manufacturing base is challenged.
05/29/2010
The Honda strike for higher wages upsets this perception.
Linked Articles
Chinese Honda Strike a Wake-Up Call for Japan
New York Times 06/01/2010
Unrest May Signal New Phase in China EconomyNew York Times 05/29/2010
Apple products at manufacturing plants in China and at retail stores in the U.S.- low worker pay and lack of future prospects
05/29/2010
The high margins for Apple achieved through a combination of keeping costs low- even at the risk of providing poor wage and working conditions for the majority of employees employed in the retail stores in the U.S. and in supplier Foxconn plants in China- and by a grasp for innovation and technology. The paradox of a well deserved image for pioneering in technological innovation and the indifference to working conditions and prospects for employees who add value in manufacturing and customer interface. This model of growth is a recent development, put in place after 1997. In 1995-1997 Apple was nearing collapse under Michael Spindler and Gil Amelio, as documented by WSJ technology reporter Jim Carlton in his book- "Apple- The Inside Story of Intrigue, Egomania, and Business Blunders." Steve Jobs returned as CEO in 1997 and set the future course and this model in place emphasizing design, his ability to grasp technologies that would appeal to customers, and hired Tim Cook to set up the manufacturing which had high rate of defects and higher costs. The model was as full of paradoxes, of genius combined with mediocre behavioursas the man Steve Jobs. Tim Cook has responded to criticism in 2012 by having the Fair Labor association audit Foxconn plants in China. Foxconn increased wages in 2012, shifted plants to the interior of China, and increased use of robotics.
Linked Articles
Wall Street Journal 05/29/2010
Apple Stores Army, Long on Loyalty but Short on PayNew York Times 06/23/2012
The maintenance failure for the safety valve and the switch controlling it in the BP explosion.
05/13/2010
A dead battery in asuper-critical switch and hydraulics leaks that made inoperative a crucial safety valve that was the last barrier between safety and an explosion in the waters of the Gulf of Mexico led to the accident on the BP oil rig.
Linked Articles
Safety Valves Had a Dead Battery, Investigators Find
Wall Street Journal 05/13/2010
BP's Hayward Says Company Could Have Done More Disaster PreparationWall Street Journal 05/13/2010
Failures at BP and a White House approach too dependent on BP for controlling the Oil Spill.
05/01/2010
A long history of failures at BP and the slow indecisive action of the Obama administration.
Linked Articles
In Gulf, It Was Unclear Who Was in Charge of Rig
New York Times 06/05/2010
Drilling Down: A Troubled Legacy in OilWall Street Journal 05/01/2010
The inaction at GM 2009-2013 for the defective ignition switch recall and the inaction at Toyota for unintended acceleration recall
02/10/2010
GM's management lost track of quality issues that were buried at lower levels during the bankruptcy period. Toyota's management in the U.S. referred the NHTSA to quality managers in Japan who did not make the necessary effort to look into and address the problem. This shows that quality is not just a technical issue for the engineers and requires management atention at the highest levels, direct reporting to top managers. It also shows that quality problems never go away, will always be present, no matter how good you think you get. Small mistakes can be very costly as BP, TEPCO in the Fukushima nuclear disaster, Toyota, have shown in the recent past.
Linked Articles
General Motors Misled Grieving Families on a Lethal Flaw
New York Times 03/24/2014
Safety Agency Scrutinized as Toyota Recall GrowsNew York Times 02/10/2010
The failure of CEO's before Akio Toyoda to address quality problems at Toyota.
01/28/2010
Quality problems were evident as early as 2006. Both CEO's Okuda and Watanable failed to get agrip on these problems in the midst of rapid expansion.
Linked Articles
Akio Toyoda - Toyota's plan to repair its public image
Washington Post 02/09/2010
Toyota Heir Faces Crisis at the WheelWall Street Journal 01/28/2010
Danone and P&G's (Procter & Gamble) innovative strategies for reaching low income customers in emerging markets.
12/12/2009
In 2004 Indonesian managers showed Franck Riboud, CEO of Danone, a pyramid of customers in Indonesia's population of 240 million people. It showed only 20 million customers at the top of the pyramid as the only ones who could afford Danone products. At that point Ribaud made up his mind to go after the large number of people at the lower end of the pyramid and come with strategies to do this profitably. By 2010 46% of Danone's sales were from emerging markets, up from 10% a decade earlier, showing the pace of the change. Unilever, P&G, Nestle, Colgate-Palmolive and other companies are following similiar strategies. P&G has used Mexico as a lab for experimenting with new products at low price points and Danone has done this in Indonesia.
Linked Articles
Danone Expands Its Pantry to Woo the World's Poor
Wall Street Journal 06/25/2010
P.& G. Sees the World as Its ClientNew York Times 12/12/2009
How textbook ideas belittle the important role of maufacturing in the U.S.
01/26/2011
Linked Articles
Comparative Advantage and American Jobs
Wall Street Journal 01/26/2011
Dow Chemical's CEO on How to Revive ManufacturingWall Street Journal 02/23/2012
Bringing peace to Kashmir- the elections in 2014 with a 70% turnout as ordinary Kashmiris turn to development and infrastructure building
01/01/2011
Weary of conflict a whole region turns to economic development and infrastructure building plans as the next step to a brighter future. South Asia makes a new beginning as it catches up with its neighbors in East Asia. A billion plus market extending from South Asia to Indonesia makes a new beginning in 2014. Even the Kashmir Valley hears the message- the synergy of technology, capital, human resources and good governance can pave the way to a better future that is within the reach of today's young generation of South Asians and Indonesians.
Linked Articles
Modi’s Campaign Stop in Kashmir Is Notable for Lack of Unrest
New York Times 12/08/2014
Kashmir's troubles: Shaking the mountainsEconomist 01/01/2011
Tackling manufacturing defects and achieving production efficiencies for the Airbus A380 superjumbo planes
12/03/2010
Linked Articles
Qantas Engine Drama Fuels Cockpit Lessons
Wall Street Journal 12/03/2010
Airbus Wants A380 Cost CutsWall Street Journal 07/13/2012
How Apple's Steve Jobs put together the iPhone product in 2004-2007, and how Nokia missed the smartphone opportunity
09/26/2010
Linked Articles
Apple Engineer Recalls the iPhone's Birth
Wall Street Journal 03/26/2014
Nokiaâs New Chief Faces a Culture of ComplacencyNew York Times 09/26/2010
Reviving American Manufacturing- the views of Anthony Liveris and Andy Grove
07/01/2010
Anthony Liveris is CEO of Dow Chemical and Andy Grove headed Intel Corp.
Linked Articles
Dow Chemical's CEO on How to Revive Manufacturing
Wall Street Journal 02/23/2012
Andy Grove: How America Can Create JobsBusinessWeek 07/01/2010
How America's need for low wage manufactured products is colliding with worker demands inside China.
06/03/2010
The beginnings of a Chinese workers movement for higher wages and better working conditions that has support within the universities, state run media and the government. The government sees the need to build up domestic consumption as austerity measures in western countries threaten the sustainability of the old export model; and sees higher worker wages make sense in this context.
Linked Articles
The Rise of a Chinese Worker's Movement
BusinessWeek 06/10/2010
Why Apple and Others Are Nervous About FoxconnBusinessWeek 06/03/2010
Strike at Honda and suicides at Hon Hai reflect worker dissatisfaction.
05/29/2010
Wages an issue at both companies. Military style discipline and monotony of life and work an issue at Hon Hai which employs 800,000 workers in China and is a key part of the Chinese manufacturing system which makes all kinds of electronic products
Linked Articles
Why Apple and Others Are Nervous About Foxconn
BusinessWeek 06/03/2010
Unrest May Signal New Phase in China EconomyNew York Times 05/29/2010
Chrysler-Fiat's Marchionne and his effort to turn the Jeep into a global brand
05/20/2010
Efforts to promote the new Jeep designs as a lifestyle vehicle in emerging markets where it is seen as an off road vehicle. By manufacturing locally Chrysler hopes to avoid the import duties that make it impossible for the Jeep to compete.
Linked Articles
Wall Street Journal 03/29/2012
Many Hopes Ride on Makeover of the Grand CherokeeNew York Times 05/20/2010
BP has a history of problems with quality systems and safety.
05/01/2010
Linked Articles
BP's Hayward Says Company Could Have Done More Disaster Preparation
Wall Street Journal 05/13/2010
Drilling Down: A Troubled Legacy in OilWall Street Journal 05/01/2010
The problems facing Sony after developing the first e-reader in 2004 and the first OLED set in 2007- lack of a consumer mindset
04/22/2010
Competition from lower cost manufacturers adds to earlier problems of not keeping a consumer point of view for new products. A problem common to many of Japan's electronics companies.
Linked Articles
How Japan Lost Its Electronics Crown
Wall Street Journal 08/15/2012
How Vizio Beat Sony in High-Def TVBusinessWeek 04/22/2010
Long standing reputations for quality and safety damaged by failures in quality systems at J&J McNeil and Toyota.
02/02/2010
Both Toyota and J&J Mcneil unit responded poorly and with long time lags to federal agencies that supervise safety for their products. Both companies took along time to investigate the consumer complaints, one for faulty brake pedal and the other for musty odor from Tylenol Arthritis caplet bottles.
Linked Articles
Maker of Tylenol Explains Actions Taken to Alleviate Musty Smell of Pills
New York Times 03/17/2010
Obama Administration Says It Is 'Not Finished With Toyota'Wall Street Journal 02/02/2010
China's policy makers make moves to make the economy less dependent on exports.
01/07/2010
Since 2004 China's consumer spending has fallen behind even more from 40% to 35% as a share of the economy. Steps to reverse this by allowig wages to increase significantly as at this Honda facory in Foshan.
Linked Articles
Unrest May Signal New Phase in China Economy
New York Times 05/29/2010
China Aims to Transform a Nation of Savers Into SpendersWall Street Journal 01/07/2010
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