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Washington Post Original article ›
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The Washington Post survey of 1200 readers on how the Republican healthcare plan of Speaker Ryan and the House of Representatives looks to them, how it affects them in their lives. Here Somasekhar of the Post gives the stories of 5 Americans. Some see the prospect of losing their insurance under the Republican plan even as they reach an older age, others a smaller segment says the Post, whose premiums jumped under the Affordable Care Act say they faced high premiums and high deductibles. The Post says the large majority of opinions have expressed anxiety over the proposed Republican Ryan House plan for healthcare. One of them is an uninsured poor farmer, Mr. Woosley,  income about $18000 who gained benefit from expanded Medicaid under the Affordable Care Act,  one Mr. Smith, 32 years, a personal injury attorney who faces paying $10,000 if he did not take insurance and $10,000 if he took insurance because of high premiums so a wash either way deciding to do without it, one a tech worker Mrs. Powers, 62 years, income $22,000 on year and $4000 the next, from middle class during the tech boom but facing fewer opportunities and uncertain income from part time work, hit by the deep recession facing fewer opportunities as she gets older and now the prospect of losing insurance without government subsidies, one who is from the middle class who sees little benefit from the Affordable Care Act and is forgoing insurance because of the high premiums yet faces a penalty for not being insured under the ACA, another Mr. Blanchard, 52 years, is from the middle class, a computer programmer who lost his job in downsizing, earns $100,000 as a consultant self-employed, pays $767 in premium a month and relies on the Affordable Care Act which helps him gain freedom from working at a company that could downsize,  another is a middle class programmer Mr Riffle,age 44, and his wife, who does not qualify for a subsidy with a $71,000 family salary from working 4 jobs between himself and his wife- this person finds it too expensive for his salary to buy insurance $900 a month and $14,000 deductible under the Affordable Care Act. His views are worth listening to as they go to the crux of the problem- he says he may not be any better with the Republican plan. He sees the real problem as the high cost of health care in the U.S. and the only way this can be fixed is for members of Congress to be asked to use the insurance exchanges they create. If this sample is representative it shows that there are real problems with both the Affordable Care Act and the Republican plan, that the high cost of health care the problem lurking behind every plan that does not squarely address this, and till that happens and members of Congress experience what ordinary people face, this problem can never by fully solved.   Woosley, Smith, Powers, Blanchard, Riffle, and their personal experience is at the crux of what is right and wrong  with the Affordable Care Act, and also with the new Republican plan of Speaker Ryan and the House of Representatives. For every Woosley, Powers and Blanchard who benefit, there is a Smith and a Riffle who are indifferent or are affected by the high cost under Affordable Care Act and the current system of medical care with its high cost. The Affordable Care Act does not  tackle high cost, for that to happen the culture in America that makes it possible and acceptable to charge high prices must change. Another problem apart from bringing health care costs is that any solution needs to have the whole country behind it. If the notion that all people are entitled to basic health care is to stand, the whole country needs to believe it as they do in countries like France, Britain, Germany and Japan. If this has to be made a workable proposition health care has to be offered at a price that makes this possible to achieve, and that idea also needs the deep and broad sense of support from the culture in America similar to that in these other countries. Until that happens politicians in America will get elected and turned out of office in turns on issues such as health care, based on which side they take and which problems they choose not to face squarely and responsibly. ...
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Just as the drug industry is more getting more dependent on the government with the medicare drug benefit raising the retail drug purchases paid by government to 34% in 2006 from 28% in 2005, the industry is facing more governmental scrutiny, from the FDA, from Congress from the public, and during this election campaign. Rep .Rosa DeLauro, who heads the House appropriations subcommittee that has oversight over FDA funding compares the drug industry to the tobacco industry saying that it requires the same amount of scrutiny. At the same time the drug industry is aware of the changes in the public mood and the recent controversies over drug studies, such as the one on Vytorin and other controversy. It is initiating some voluntary changes, registering clinical trial results, submitting commercials to the FDA before they air, and under pressure from medical journals registering trials before they are performed. A new law will requires and its not clear whether the drug industry is dragging its feet and then making changes when there is increasing public pressure. This is the feeling of the medical journals like the Journal of the Medical Association and the New England Journal of Medicine. JAMA's editors will be keeping up this pressure as they have more articles showing how the drug industry manipulates data and the need for public skepticism of information that comes out of the drug industry. The New England Journal editors expressed the need to publish information that helps doctors get all the available information, and not just the information from the drug industry that makes the drug look better than it really is, such as the information and analysis it provided on antidepressant medications. The chairman of the energy and commerce investigations subcommittee Rep. Stupak, finds the advertising for drugs contains information that cannot be backed up and not true ethically, medically, or legally. As this reflects the public mood look for more investigations in Congress and investigative research by the journals. On the issue of importation of drugs from Canada there is bipartisan support as both Senator McCain and Senator Clinton support importation. Clinton supports legislation that allows the FDA to approve new generic versions of biotech drugs which would lower prices of biotech drugs. And with the US consumer budget facing strains in a recession there will be increasing pressure and demands for relief in the area of drug prices, especially for the elderly and uninsured and from corporate payors. ...
Washington Post Original article ›
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Mr. Trump told Irish prime minister Leo Varadkar at the White House he is disappointed with the way Brexit has evolved in the three years since he supported Brexit during the election campaign. Trump said "it is tearing the country apart. Its actually tearing a lot of countries apart."  After a series of votes in the British parliament Trump told reporters he gave May some negotiating advice. "I gave the prime minister my ideas on how to negotiate. I think she would have been successful., she did'nt listen to that." So what happened? What advice did Trump give on negotiating? There are only some hints on this. Theresa May told the BBC in an interview after Trump's visit to London in July 2018- "He told me I should sue the E.U. -not go into negotiations., Sue them."  Trump made a prediction a day after the referendum to Leave saying "the E.U. is going to break up." This was at the time of the financial crisis in the European Union with problems in Greece, Spain and Portugal. Since then the economies of these countries revived. Spain has 3% growth for three years even though it faces fresh elections. In his 2000 book "The America we Deserve" Trump pointed out his sense threat the U.S. should pull back from the E.U and save millions of dollars annually. In recent years he has suggested that the E.U was "a foe"  and "it was formed as a consortium so that it could compete with the United States." The problems in Europe happened in the period 2016-2018 with divisions emerging on the issue of immigration. This wave of immigration was a result of Arab and African conflicts and lag in Africa between development and the rapidly rising population. Chancellor Merkel was ill prepared to handle this wave of immigration and in retrospect her policy did little to address the roots of the problems of immigration from North Africa, a policy later adopted when popular support for immigration of this kind and scale declined. It affected the vote for Brexit playing into deep seated doubts about the benefits of EU membership in parts of Britain.  Mr. Trump supports no-deal Brexit which was defeated by large margins in the British parliament and lacks support across all parts of society, business and political parties in Britain. Trump own sense that Brexit has divided many countries and his dialogue with the Irish prime minister must show an awareness of the views of Ireland about the hard won peace and E.U. borders in Ireland.     ...
Wall Street Journal Original article ›
LyrArc Article Gist
How changes in technology as wireless networks move from third generation technologies to fourth generation technologies and chnages in scale of investment by its customers can lead to huge writedowns for telecommnications equipment makers. Alcatel-Lucent is taking a Euro 2.52 billion writedown on its CDMA wireless technologies. Its also making the Alcatel-Lucent comination look murkier as integrating overlapping technologies and merging two companies and meeting customer needs all while the market itself is moving forward making technologies that are promising today look like yesterday's technologies in a short period of time. This is whats happening as broadband technologies are now the thing in wireless networks. And Alcatel's valuation of Lucent at $13 billion also looks like too much was paid for Lucent. In 4th quarter alone Alcatel-Lucent lost Euros 2.58 billion.
France 24 Original article ›
LyrArc Article Gist
FR24 gives this video of the televised national debate in France between Macron and Le Pen. Macron took up the challenge of not enough attention being given to Le Pen's ties with Russia and her position of skepticism when it comes to the European Union and climate change. "You are dependent on the Russian government and you are dependent on Mr. Putin. When you speak to Russia, you are speaking to your banker." Le Pen says she had taken that loan from a Czech-Russian bank only because French banks refused to lend to her. "I'm absolutely and totally free woman." The candidates also clashed over Le Pen's proposal for banning Muslim women from wearing headscarves. Le Pen described the veil as "a uniform imposed by Islamists." Macron sad that such a plan would violate France's secular rules and would trigger "civil war" in a country that has the largest Muslim population in western Europe. The Fench colonoized parts of North Africa during the period after 1830, with French colonies in Algeria, Morocco and other parts of the region, leading to immigration from this part of the Arab world. After a series of terrorist incidents the French public lost patience with Islamist tendencies leading to a general swing to the right in French politics including Macron. Yet mainstream parties such as Macron's continue to support France's secular values. The traditional parties from the period before Macron such as the Le Republicains of the De Gaulle period in the sixties and the Socialists from the Mitterand period (1981-1995) both failed to win more than 5% of the vote in 2022 showing the many changes happening in France.  During the Macron period as president Yellow Vest protests brought up the issues of working families having a hard time making ends meet. Macron has responded to such protests with some aloofness but also with a tendency to organize town hall meetings to listen to people express their frustrations.  France has established a stronger welfare state than the US and Britain, and for this reason issues related to the dislocation of smaller towns because of the shift of manufacturing to China are part of the general trend that had affected both the US and western Europe, requiring a more unified response. This now takes shape with the renewal of manufacturing in the US and all the western European countries. Candidates with platforms such as Le Pen's to provide relief for the current surge in the cost of living could offer temporary band aid solutions but not address the root causes that require a renewal of French manufacturing and bringing good jobs home or closer to home. The will and aspiration to bring a next generation industrial revolution to France and Europe is the kind of solution that is needed, one that would revive towns and communities across France and across Europe. Much of the technological capabilities are there in Europe, needed is the will and aspiration.  ...
The Hindu Original article ›
LyrArc Article Gist
India in 2022 and looking at 2030 has great potential in the world. India's interests as a democracy are clearly aligned with the US and Europe. In the past when India was small in economic terms after emerging from the British Empire as an independent nation and out of the fire of the partition and wars in South Asia in 1962, 1965, 1971 policies of ambivalence in foreign affairs took place. At that time says Manmohan Singh, a former prime minister who negotiated for rouble -Indian rupee agreement in the 1970's and 1980's India was finding its way for its small but growing economy. This was in the context of the Nehru-Indira Gandhi policy of non-alignment of the early years after independence when India was never presented with an opportunity to make a difference in the world and was only a small part of the world economy. Today's situation is different. The US and European Union now see the need for a principle based economic order and while one may quibble about the small details, in the larger sense, history has intended for us, the US, the European Union, UK,  British Commonwealth of which we are a part, to stand together economically and politically with our shared parliamentary systems based on western- British and American- democracy and values.  Never has history presented such a huge opportunity for billions of people- to meet the aspirations across continents from North and South America, European Union, to Africa, Asia south and south east and Japan. All countries that aspire to the free societies that have evolved over hundreds of years. It is also the spirit in which Hind Swaraj was written in 1910 by Mohandas Gandhi and which was turned into reality only 37 years later under his leadership and vision for India. The non-alignment period of 2 decades was more of a intervening chapter that resulted from a sense of grievance rather than in the spirit of courage and spirited effort that Mohandas Gandhi embodied and led India with. In Manmohan Singh's direct unmistakable terms and from the vast experience he brings as a respected Indian civil servant- "India as the largest peace loving democracy stands to gain enormously from this principled trade aspiration of the western block of nations of the US and European Union. It presents a tremendous opportunity for India to become a large producing nation for the world and a global economic powerhouse. However, to capitalize on these opportunities India needs free access to these markets, an accepted and global currency to trade in and seamless trade settlements." Manmohan Singh sees millions of factories manned by hundreds of millions of people of all castes, creeds and religions of India. This is a pivotal moment of change for India and India must grasp it firmly. It is also the Mohandas Gandhi of Hind Swaraj taken to a new level from 1910 to 2050, and today's young people's aspiration for India.  ...
Washington Post Original article ›
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Ignatius of the Washington Post presents the Egyptian protests from the lens of Obama's personal encounter with authoritarian regimes in his boyhood experiences in Indonesia and Kenya. This is covered in Obama's first book, "Dreams from My Father." Ignatius points to the movements in Indonesia and the Philippines that ousted dictators Marcos and Suharto as evidence that positive models exist for transition to democratic government after long spells of authoritarian rule. This is a view different from the pessimism expressed by Charles Krauthammer in the Washington Post on the same day- February 4, 2011- as the largest pro-democracy demonstrations were underway in Egypt. Krauthammer cites the situation in Gaza and Iran. The Wall Street Journal editorial on the same day says that Gaza is a bad example, because Hamas was allowed to contest the election without the necessary groundwork being laid; as an exception by US Secretary of State Rice. The WSJ editorial stands by the liberal democratic openings to democracy established by Bush, and earlier supported by Reagan at the Berlin Wall. The situation in Iran is actually that the elections were stolen by the Ahmadinejhad government, just as they have been stolen in Belarus, so it also may not be a good example. Ignatius points to Obama's experience as post-colonial but at the same time his administration's handling of the crisis so far has been generally described in the US media as of being caught by surprise by events and not being able to take a clear stand. ...
Wall Street Journal Original article ›
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Rumsfeld talks in this interview about the conflict between the US State and Defense Departments about a post war Iraq that delayed decisions and gave time for the Iraqi insurgency to develop. Colin Powell at the State Department, and Condoleeza Rice as National Security Advisor, let Ian Bremmer continue for too long as the sole authority in Iraq operating from one of Hussein's palaces, giving the feeling of a foreign occupation force and fueling insurgency. Rumsfeld favored letting one of the Iraqi exiles provide interim leadership, wheras Powell felt the exiles did not have the legitimacy in Iraq that was needed. The result was indecision that left Bremmer in charge for too long. Asked why Rumsfeld did not fire Bremmer, he says Bremmer acted as the Presidential envoy. His criticism of Rice and Powell centers on their not letting the President decide by providing the options and the pros and the cons. He says the surge was more psychological in its impact and less significant than its made out to be, because the Anbar Awakening had already led Sunnis to move away from Al Quaeda. The insurgency came in stages, first with the Baathists and thugs from the old regime, then the foreign elements and Al Quaeda through Damascus, and then the Mohtada Sadr Shiites, it was not a single enemy or a single event. The memoir is not a defense of the Bush Presidency or decisions, but takes the kind of look at events that is reminiscent of Dean Acheson for the events of the Cold War under president Harry Truman....
Wall Street Journal Original article ›
LyrArc Article Gist
Changes in the venture capital industry in 2013 to smaller funds with fewer partners, and focussed on fewer areas. Investors are turning down request for funds from venture capital firms because of poor returns. Other than a couple of brand name firms the venture capital firms have not produced high returns. Ignition Partners is reducing the size of its fund to $150 million from the $400 million raised in 2007. When compared with the return on the stock market the returns produced by the venture capital industry do not look attractive. U.S. venture capital funds produced returns of 6.1% for the last ten years ending September 2012, according to Cambridge Associates LLC. Compare this with Nasdaq Composite Index 10.3% increase and the Dow Jones Indusrial Average 8.6% increase during this period, and one sees why investors are becoming more discerning, moving away from the venture capital firms. The old approach of venture capital firms was based on hit and miss by putting many companies in a basket and hoping for a big hit. Over time the value added to the startup companies by venture firms has declined. There are fewer companies which have the potential for big hits and much of the technological landscape for the internet and software revolution has been filled, leading to one or two big hits such as Facebook and LinkedIn. Large developments for new technological innovation are coming from established companies such as Google and Apple, because of the huge software developments compressed into shorter periods and the investments required....
New York Times Original article ›
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Compared to the Fed, Treasury and and American regulators hands off approach as the bubble in mortgages and in financial markets developed, China took some steps to restrain the real estate bubble in China. Starting in 2004 Beijing officials tried to limit speculation in real estate by administrative measures like setting quotas on how much real estate lending each bank could do. In August 20007 bank regulators began requiring larger down payments for second and third homes, and banks began charging linterest rates upto 3% points higher for those homes than for first home buyers. And other things make the Chinese market for mortgages quite different. About half of all chinese buy their homes with outright all cash. And down payments are 30% for first time buyers and 40% for buyers who are getting a second home. And male borrowers term of mortgage ends by law a age 60 and 55 for women whichmeans they build up equity in the home quickly and are less likely to walk away from a home. As far as the banks are concerned no securitization of mortgages has ocurred and banks hold a higher percentage of cash with capital equal to 12 to 14% of assets, compared to international regulatory standards of 8%. Prices have fallen by a third inplaces like Shenzen, and the central bank asked commerical banks to reduce mortgage rates and help borrowers with lower down payments, with the hope that this would stabilize home prices. However with the credit crisis economists expect further decline in home prices....
Wall Street Journal Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Is this a sign of things to come, after all the Japanese economy has seen sagging consumption for years with a two tier economy with full time workers and parttime workers with no benefits. The parttime labor force increased from 4.13 to 4.79 million according to the Labor Department and its the highest since 1993. Now people are doing this not by choice but for economic reasons. And employers like Kroger are doing this so that they can hire more parttimers with no benefits and pay benefits to fewer employees. There are also computerized scheduling systems for parttimers that are becoming popular with retail stores that use a lot of partimers.
NITI Aayog, PM's Office Original article ›
LyrArc Article Gist
As the coronavirus pandemic reaches the 20 month mark in October 2021 and the government reaches a target of 1 billion vaccinations given in India, prime minister Modi talks about his experience handling the vaccination drive in this interview. It covers a wide range of topics from his initial experiences in development in Gujarat, translating this experience to the national setting, the multiple yojanas or projects from Swachh Bharat (Clean India), toilets for all, bank accounts for the whole population, cooking gas for women, decisions taken for Aadhar, digitization, GST. His 35 years spent in poverty as a social worker that gave him a clear idea of the aspirations of the working poor. On the achievement of one billion vaccinations- It was the careful preparation that happened as early as March 2020 that carefully anticipated all possible problems and tackled each one of them that made it possible. "Vaccinating such a large number of people comes with its own share of complexities. Ensuring proper temperature control of complexities, cold chain infrastructure across the length and breadth of the country, timely delivery from the manufacturing plant to the remotest vaccination delivery point, supply of needles and syringes, training of vaccinators and preparing for adverse reactions, from quick registration to certificate generation to reminder for next appointment. We needed to look at the entire logistics, planning, and progress of the vaccination drive." To understand the person completely one has to go back to the origins of his experience, skills learned, and his inspiration for the effort. Modi entered the chief minister's office in the western Indian state of Gujarat facing the Arabian sea in 2001. He entered office at the time of the Bhuj earthquake in Gujarat and describes his taking the chief minister's office as accidental as he had been a social worker for 30 years. "Let alone reluctance to join electoral politics, I had nothing to do with the political domain itself. My surroundings, my inner world, my philosophy- these were very different. Right from my younger days,my bent was spiritual. The philosophy of "Jan Seva Hi Prabhu Seva" Serving the people is akin to serving the Divine, which was propounded by Ramakrishna Paramahamsa and Swami Vivekananda inspired me. It became the driving force in whatever I did." In 2014 it was with the inspiration from Swami Vivekananda and taking up Vivekananda's vision for the Indian people that Modi began his campaign to lead the BJP party. It may be looking back that Vivekananda guided Modi in all his projects for a Clean India, Jal Jeevan, Indian infrastructure that benefits the last man in the queue in the country, commitment to hard work. "Global experience says government should be there for those whom nobody is there. Government's whole focus should be on helping them." To do this, to meet the needs of that last person left out in India, he could see that old notions of opposites had to be set aside. "Outdated theories such as the private sector vs the public sector, government vs. people, rich vs. poor, urban vs. rural, are still on people's minds and they try to fit everything into this." Governments since independence in 1947 followed the same political and economic thought. After Gandhi negotiated with the British government for self rule or Swaraj an experimental form was set up with provincial governments ministries with limited powers formed in the 1930's through elections. Many of these ministries had the same problems that were found after independence in 1947, as one sees in the writings in the Gandhi library. They lasted for a few years before they were dissolved by the British government. These problems were more evident under Nehru and Indira Gandhi right into the 1970's and beyond. This was followed by a period of relative stagnation. Most ministries failed to seriously address India's economic problems, urbanization issues and agricultural issues remained unaddressed, and industry building was done with a limited vision and scaled down goals. In some ways the elections created a political class interested in perpetuating itself and did not build administrations based on learning, hard work and delivering on projects with scaled up targets to match the dire needs of the country. One sees similarities with France before 1960, before De Gaulle. A mosaic of peoples all separate from each other, with agriculture the main occupation, and most agriculture done the way it was in the nineteenth century by hand and using horses and cattle- this is the picture of France shown in Nous Paysouns, We Farmers, a documentary on Le Monde French television in October 2021. It was De Gaulle who supported a shift to presidential form of government for France that helped with the transformation through modernization and infrastructure development. Tractors were introduced in 1960 to mechanize agriculture. Road, bridges, rail transport, logistics were planned in the way Gati Shakti master plan for India is now being executed. There can be no transformation without this. Unstable coalition governments in France and lack of clarity and decision making before 1960 made such development impossible. India entered such a period in the 1970's. "The politics of our country is such that till now, we have seen only one model in which governments are run to build the next government (sarkar banane ke liye chalayi jaati haye). My fundamental thinking is different. I believe we have to run the government to build the nation (desh banane ke liye sarkar chalani haye)."  Chalta haye, Chalne do. What is will not change. Families, farmers and workers in India, for a long time accepted this without questioning.  "I take decisions based on Gandhiji's talisman that sees how my decisions will benefit or harm the poorest or weakest person." "While taking decisions, I stop even if the slightest of vested interests is visible to me. The decision should be pure and authentic, and if the decision passes through all these tests, then I firmly move forward to implement such a decision."           ...

Overheard

Wall Street Journal Original article ›
DW.COM Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Connors and Magalhaes provide an exceptional account of the work of nine young prosecutors in Brazil, including Deltan Dallagnol, a Harvard trained law graduate, Carlos Santos Lima, a Cornell law graduate, and Paulo de Carvalho, in looking into the corruption and money laundering at Petrobras. Contracts for work given out by Petrobras to construction firms were inflated in value, and 3% of the inflated value was given to executives at Petrobras, or to the fund of the ruling Workers Party of Brazil. Dallagnol is a prosecutor in Curitiba, a small provincial city. He detected unusual movement of money, where a local car wash showed a new Land Rover being gifted to a Petrobras executive, in an apparent money laundering effort. Appointments at high levels are made by the government, and the current president who has not been implicated, was at one time chairman of Petrobras. In Brazil, as in India, Nigeria, and other developing countries, politicians were known to have misused public funds, but were able to act with impunity because the legal system made it difficult to impose strict penalties. The effort by the young prosecutors in Brazil is an effort to bring changes to the legal system so that this type of near impunity no longer exists. It is the first step to bringing serious changes and increasing public awareness for change. The result in Nigeria is a huge loss in Africa, with the electricity system for the entire country the size of what it would take to light up one medium sized American city. In India with the lack of roads and electricity in rural areas of many states, the misuse of public funds is a similiar burden on the people. Brazil is coming out of a borrowing binge in the last ten years which is leading to a credit crunch in the country and near junk bond status for Petrobras, Brazil's largest company, which experts predict will lead to a contraction in the economy in 2015-2016. ...
Washington Post Original article ›
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Jena McGregor's interview with Ben Horowitz of Silicon Valley. Horowitz says its best to keep the founder as CEO, because its harder to teach a professional CEO to innovate, than it is to teach a founder to be a CEO. Better to take the advice of one football sports team owner to his coach when told about injuries and problems: "Nobody Cares. Just coach your team." Best to focus on the task ahead than to get overburdened by thinking about the hurdles. Many companies make the mistake of overhiring and finding they are in trouble when business falls off. At that time a moment of honesty is essential, even though a trust with the employee has to be broken, one cannot hide or blame the employee- only by saying we screwed up and planned the business the wrong way, can one make an honest effort to recover. Not making the honest assessment and being frank with oneself and colleagues can be fatal for a young company. Andy Grove of Intel, cites this example in his book "Only the Paranoid Survive," - to shift out of the memory chip business and close plants was essential once it was clear the Japanese had an unsurmountable edge, a long term move into microprocessors had to start now for Grove and Intel in 1986. An outsider's impersonal logic and no emotional involvement had to be Grove's mindset, as if he was replacing himself as the new head of the business, going out one door and coming back in. Panasonic's moves in 2013 under CEO Kazuhiro Tsuga to exit the plasma television business and focus on new business opportunities, including electric car batteries, is a recent example. On motivation or purpose: no big vision has to be announced and repeated- it is enough to make being a good company at what you do the end goal, make craftsmanship or doing the work you enjoy and can contribute in the end goal and purpose. The modest and straightforward is enough reason for existence and doing very well. How important is training? A lot, a great deal more than one can imagine. People can be talented but not productive. Companies that have good and extensive training programs can do much better than companies that lack these programs. Managers who can continue this with on the job training are also valuable to build on training programs. Sony's Akio Morita personally interviewed new hires, new engineers joining the company at all levels- it is really the contribution of the thousands of engineers that he personally interviewed that built Sony into a global pioneer in electronics in his time. He says the future of the company is determined by the people the company hires. Goes even further, by saying the fate of the company is in the hands of the youngest recruit on the staff. Horowitz finds Jim Collins as management writer a bit abstract and mushy, he prefers Intel's Andy Grove and his books such as High Output Management, as more specific about how to manage business. One could add "Made In Japan," and Morita to the list....
Wall Street Journal Original article ›
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Chief Financial Offficer Frederick Henderson to becom Chief Operating Officer and President of General Motors. Henderson who has experience in Asia and helped boost Chinese operations, is one of the key people in Wagoner's team and becomes COO at a time when GM had a 13% drop in sales this month over this month last year.
Wall Street Journal Original article ›
LyrArc Article Gist
The lack of funds at the end of the primaries and an extreme position on immigration taken to win close primary contests left Romney with serious problems as he entered the fall presidential elections in the U.S. The Obama campaign sensed the weakness, especially that Romney's new fund raising effort would leave him short of campaigning time in key midwestern states and short of funds to match an attack on his Bain Capital record. The attacks in these states in radio and television advertising created voter unease with Romney compared to Obama about caring for people like themselves. This proved a decisive factor and was hard to overcome say experts.
The Economic Times Original article ›
LyrArc Article Gist
It took 75 years for a British prime minister to visit Gandhi Ashram on the banks of the Sabarmati river in Ahmedabad. George Bernard Shaw, the English writer, in a handwritten note at the Nehru museum in Allahabad after meeting Gandhi says "ask somebody 100 years hence" about Gandhi's contribution to the world. Today it is more clearer than ever. Mohandas Gandhi wrote Hind Swaraj on a ship from South Africa to London in 1910 after negotiating with the British government on behalf of Indians in South Africa. In 1915 Gandhi returned to India and used his savings to buy 110 acres of land for the ashram on the banks of the river Sabarmati in Ahmedabad. By 1923 Gandhi was questioning the expenditures of the British government that did little for the development of the country and a budget that was focused on military expenditures, in his magazine Young India, with nothing for developing the country except for railways and transport. Gandhi launched his non cooperation movement for self-rule or Swaraj from the Ashram. By 1937 elections were held and the first provincial assemblies were set up in an experiment for self-rule. In 1930 the Salt March for noncooperation in the British salt monopoly, salt seen as the common man's right, was launched from the Ashram. In 1942 the Quit India movement was launched in the middle of World War II. In 1945 after Labour party's Clement Atlee won the election in a landslide against Winston Churchill the path opened for Britain to start negotiations with Gandhi for independence. In 1947 India was free. Why 75 years for a British prime minister? Much of the period after 1950's was lost in the recovery from partition, wars on Kashmir, China's entry into Tibet and the invasion of India. The non aligned movement under Nehru and Indira Gandhi and successor governments to 2000 appearing more as voicing a grievance for being left out led to an ambivalence of the US and UK towards India, and reflected a period when India was small in economic terms and lacked the opportunity to find its place in the world as a country with the largest population in the world. Which today with with Bangladesh and Indonesia sharing a common history of Hinduism and Buddhism represents 1.6 billion people. In the Nehru home museum in Allahabad there is a hand written note by British writer George Bernard Shaw who visited India and the Nehru home. It says it would take maybe 100 years before the world realized the significance of what Gandhi had done and only at that time would the world truly understand Mr. Gandhi. Mr. Boris Johnson's effort to make up for 75 years that went by without UK prime minister's visit to Gandhi Ashram in Ahmedabad is one such moment that George Bernard Shaw had seen coming.  George Bernard Shaw's handwritten not at the Nehru Museum in Allahabad says- "What is the place of Mahatma Gandhi in political philosophy? I do not know. Ask somebody a century hence. I recollect Gandhi as only a very likeable fellow- Mahatma from India. We did not talk Mahatma shop."       G. Bernard Shaw            28/6/1947     ...
NYTimes.com Original article ›
LyrArc Article Gist
This self portrait by Vladimir Putin about his growing up years in Leningrad and the life of his father and mother during the siege of Leningrad by Germans may offer a better sense of the mind and thinking of the Russian president than the Dresden years when he was a junior Russian official in Communist East Germany (the GDR). It is an interview of the Russian president in 2000 by Nataliya Gevorkyan, Natalya Timakova, and Andrei Kolesnikov over twenty years back. Putin's father suffered severe injuries during the war in the fighting around Leningrad, twice being given up for dead and being dragged wounded across the frozen Neva river to a hospital by a neighbor. His mother was half dead from starvation and his father passed on his food given to him at the hospital. Having gone through the memories of this period affected Vladimir Putin's view of the world and no amount of US or German assurance about NATO's intentions may have erased these memories from childhood. The long period in power and the Covid isolation may have led to  perceptions that were less likely to change so that Putin did his own research and wrote a long paper on Ukraine in 2021 that reflected Russia and Ukraine's long history but did not reflect the changing national aspirations of Ukraine's people in 2022. This may have led to the miscalculation and the errors by both Putin and the leaders Merkel-Bush-Obama that the detailed WSJ report of 20 years of events show to have happened. The WSJ report of April 1, 2022, was titled "Vladimir Putin's 20 Year March to War in Ukraine and How the West Mishandled It." The Social Democrats in Germany under Schroeder and Steinmeier mishandled it by deepening economic integration with Russia as a way to make up for what had happened in the German invasion of Russia, and the Christian Democrats under Merkel with business interests never really grasped the different thinking of the Russian president relying solely on deep economic integration of the EU and Germany with Russia as well as China as an answer. Mr. Bush and Mr. Obama from a distance even less so.  This has led to the miscalculation by Russia under Putin leading to invasion of Ukraine, and the US and Germany being unprepared about taking action to prevent it.  Beyond the key participants and the war damage, there is the enormous damage that is taking place in the mental health around the world after Covid with constant barrage of images of war and refugees streaming into Poland. There is the problem of food imports, of food scarcity in the Middle East, and inflation in food prices for Africa and the Middle East. As Brendan Simms, a Cambridge historian has shown in his book "Europe The Struggle of Supremacy 1453 to the Present," which is now being read by German chancellor Scholz, this has happened before with the UK, Netherlands, Spain, Germany, Sweden, Denmark and Russia engaging in these conflicts that led to prolonged wars and eventually to only small shifts in power. Yet with huge effects for ordinary people caught in the wars such as today's refugees and people struggling to feed their families in Africa and Asia after the effects of Covid on income. Food prices have gone up by 50% to almost double in these countries.   ...

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