National Development Plan’s Vision 2030 gets a new-look logo

first_imgSouth Africa’s National Development Plan has a new brand identity and logo designed to inspire all citizens to work towards the vision of eliminating poverty and reducing inequality by the year 2030.The new look for the country’s blueprint for a more prosperous future was launched by Minister in the Presidency Jeff Radebe in Pretoria on Sunday.At the launch, Radebe called on South Africans to play their part in reaching the goals of the NDP by taking part in the new brand identity’s roll-out campaigns.“As South Africans, let us use this NDP brand identity to build a truly democratic, united, non-sexist, non-racial and prosperous South Africa,” he said.The NDP, adopted in 2012, is the product of hundreds of interactions with South Africans, input from tens of thousands of people, extensive research and robust debate throughout the country.It is a plan to unite South Africans, unleash the energies of its citizens, grow an inclusive economy, build capabilities, and enhance the capability of the state and leaders working together to solve complex problems.Radebe said the new NDP communication strategy will be rolled out in phases to showcase how the NDP – popularly known as Vision 2030 – can change people’s lives.Watch:He said different sectors of society – artists, business, labour, people living in rural areas, the media and more – have a role to play to ensure the goals of the NDP are met by 2030.“We welcome existing initiatives by people who are playing their part,” he said. “The Eziko Production Group, for example, has developed an edu-play on the NDP and its key critical areas. This edu-play is exemplary of a socially cohesive society that strives for a common national identity.“There are also young entrepreneurs from Cape Town who have developed a business idea called Eza Sekasi Fridays. This demonstrates the creation of decent employment in the townships to champion the NDP.“This initiative is a stimulus for the statement made by young people, who adopted the National Youth Policy and declared that they do not want a hand-out – but a hand up,” Radebe said.He said he realised the NDP was alive when, during Youth Month in June, a young man from Mthatha told him about his success story of forming a vegetable growers’ association to ensure food security, economic viability and creation of jobs in his community.“Government welcomes the partnership with business and labour to rally around the NDP in ensuring that there is a collective effort in workplace conflict reduction and improved cooperation between government, organised business and organised labour,” Radebe said.He thanked business and labour for having thrown their weight behind the NDP and for partnering with the government to ensure that they work towards the targets identified in the reporterWould you like to use this article in your publication or on your website? See Using materiallast_img read more

Want Justice Lodha to guide us, not saying no to his recommendations: Sharad Pawar

first_imgThe Sharad Pawar led Mumbai Cricket Association (MCA) had a managing committee meet today where no decision was taken on calling an AGM to  change its constitution and implement Lodha reforms as per Supreme Court directions. (Also Read: Sack entire BCCI top brass, Lodha panel tells Supreme Court)On what are seen as dilly dallying tactics by the political big wig, Pawar says they needed some clarifications based upon the legal advice given to them.”We have raised one or two issues where we want guidance from them. If we have to take any decision at AGM and change constitution, our lawyer has pointed out that they have said it’s not applicable to state associations. So we want to know what the truth is,” he said after the meet.Effectively the MCA like a lot of other associations will miss the 30th September deadline to bring about changes in its constitution.”We have been told at the meet today to wait till the BCCI review petition is heard by the Supreme Court before making any further move,” said a MCA source who attended the meet.The MCA has also filed an affidavit with the Bombay High Court seeking clarity if the Lodha report applies to associations. Asked if the MCA had sought clarity from the Lodha committee, Pawar said, “We have not written to committee, we have written to Justice Lodha to guide us. We are not saying no. The only thing, the main judgement says something and Lodha saab is saying something. So we want clarification.”advertisementInterestingly the status report filed by the Lodha committee today at the Supreme Court charging the BCCI of non compliance also has a remark directed at associations like the MCA. Point 9 of the status report reads, “The present report is restricted to the non-compliance by the BCCI and does not deal with the conduct of the state associations. If the need arises as regards the state associations a further status report will be submitted.”last_img read more

10 months agoAC Milan coach Gattuso wants more from Higuain

first_imgTagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say AC Milan coach Gattuso wants more from Higuainby Carlos Volcano10 months agoSend to a friendShare the loveAC Milan coach Rino Gattuso says he needs more from Gonzalo Higuain.On-loan from Juventus, Higuain has struggled for form in recent weeks.”I’ve spoken to Gonzalo, and he’s the first to be disappointed by the situation,” Gattuso said in his Press conference ahead of the Bologna game.“In the period we’re in he needs to give us his experience and character, his goals come after that.“In difficult times the priority isn’t goals, but leadership, he needs to carry his teammates even if some make mistakes.“The chatter around him will always be there, we can’t control everything, but I’ve told him that everyone appreciates him, though he has to do more.” last_img read more

Dear Reader Vedran Vuk here filling in for David

first_imgDear Reader,Vedran Vuk here, filling in for David Galland. Today, I want to break down the boom-and-bust cycle from the perspective of someone starting their own business. Then, I’ll explain the significance of Mario Draghi’s statements yesterday, which shot the market upward. Finally, I’ll briefly touch on why journalism tends to perpetuate economically illiterate ideas. Small Business and MacroeconomicsBy Vedran Vuk, Senior AnalystWhen anyone talks about macroeconomics and the boom/bust cycle, they more often than not focus on the big picture: GDP growth rates, inflation expectations, and central bank policies. In most of my articles, I am as guilty as anyone else of this. So today, I want to switch it up and discuss the boom–and-bust cycle from the perspective of a small business. How is that a period of low interest rates and excess credit can cause such widespread destruction among enormous banks as well as small businesses? After all, it’s not like Mom and Pop were playing with risky derivatives.Suppose I was starting a new business during a credit bubble. Let’s say that it’s something somewhat bubble-related, perhaps a high-end kitchen accessories store. Since I’m a very prudent person, I’m not just starting my business on a whim. In fact, I’ve done some serious calculations to discover that my monthly profit margin would be about 20%. It’s not huge, but enough to start my small, high-end kitchen accessories store.How do the Fed’s policies affect my decision to open? First of all, consider that interest rates factor into my overall monthly profit margin. With rates extremely low thanks to the central bank, my business can finance its startup expenses at a much lower cost. If interest rates were much higher, my margin would be necessarily lower. As a result, the interest rate could determine whether my business is worth starting or not. If my margin after debt was only 15% rather than 20%, the business might look too risky, with only a small cushion should something go wrong.Another way of putting it is that I’m starting a business which, under other interest-rate circumstances, might not make sense. See the problem here? Rather than the strength of my business determining its viability, rates have become a primary issue.Now you might be thinking to yourself, how many businesses does this really affect? How many people are starting such marginal business where the outcome depends on interest rates? That’s a great question. The majority of new businesses wouldn’t cut it so close. However, it does happen. Think about investors flipping houses on adjustable-rate mortgages. When rates started to rise, many almost instantly went bankrupt. This is one of the clearest examples of low interest rates leading people to malinvest in projects which don’t make sense. If interest rates were higher, they likely would never get themselves into the same business.Beyond the interest payments on your debt, a second part of the profit margin is affected by low rates and plentiful credit. My margin calculation assumes that the current demand for kitchen accessories is realistic and stable. However, in a credit bubble, the demand in the economy may not be a reflection of long-term demand. Since credit is cheap, I’m starting my own business. But there’s a few stores next door opening up too. And other people in the economy are taking advantage of the cheap credit as well. Whether it’s through spending more through credit cards or getting a second mortgage on the house, everyone is flush with money.And with so much money flowing around, demand is being fueled by the cheap credit. Without the cheap money, my kitchen accessories might not be huge sellers. I might not be able to charge as much for my products, and my business idea might not break even at all.However, at some point in any credit-induced bubble, the money stops flowing into the system and the problems begin to arise. In one case, the central bank may contract the money supply and raise rates to battle inflation.  In another, the credit expansion could just reach its limit. When almost everyone has maxed out their credit cards and taken second mortgages on their homes, where else is there left to go but down? Necessarily, spending will take a dip to match the realities of their debts.When the inevitable contraction of credit happens, the demand for my products will plummet. For example, my monthly margin might fall as low 5%. At that point, my business no longer makes much sense. Things often get even worse from here. Other marginal businesses begin closing down and laying off workers. And guess what this does to my margins? I’m getting battered even more. At that point, I’m likely operating at a loss.My kitchen accessories store was built with the assumptions of a high-demand bubble environment. In the credit-contracting economy, it no longer makes economic sense as a going concern. The business essentially just loses money. It is a malinvestment and a waste of capital.In a recession, these wastes of capital are cleansed from the system. The economy slowly repairs itself through new businesses. The new businesses are built assuming the margins of hard times and credit constraints, i.e., assumptions of real demand versus the illusion of prosperity created by cheap credit. Businesses built with these assumptions become the bedrocks of the economy. They make sense as an investment of capital regardless of the Federal Reserve’s actions.During the current recession, plenty of businesses have been very successful. They make their business plans based on the new normal around them. For example, Apple isn’t a successful company because of the Fed’s interest rates or artificial demand. It has a product and cost structure which appeals to consumers despite the economic turmoil. The company’s growth is based on real, long-term demand for its products. If the economy started booming tomorrow, surely Apple would sell even more iPads and iPhones, but its business plan does not require boom-time demand to make economic sense.So is my kitchen accessories store doomed? Not necessarily. When things hit the fan, central banks try to keep the party going as long as possible – hence, the Federal Reserve’s near-zero interest-rate policy. Not only does plenty of cheap credit allow businesses to refinance, but it also fuels more artificial demand.This helps business across the board, but the biggest beneficiaries are the most marginal ones. In a way, it’s a backdoor bailout for the worst investments of the bubble period. Think again about the guy flipping houses with adjustable-rate mortgages. He gets the biggest benefit from lower rates. The average homeowner might have a slightly higher home value as a result of additional demand, but his gain is not huge. Sure, housing prices are bad now, but trust me, if 30-year rates jumped to 8% or 9%, the already low demand for the homes would fall through the floor.Because of loose monetary policy, people make bad long-term business decisions. It’s not necessarily their fault. All too often, we try to attach some sort of moral connotation to their decisions, i.e., they were greedy. However, what happened across the country is that everyone from small business to house flippers to bankers saw a lot of money floating around them. They saw an opportunity and jumped on it. In some ways, they were smarter than many of us who did nothing. That said, their mistake was confusing decades of monetary stimulus for real growth in the wealth of society.The main takeaway as an investor or even as a business owner is to assess the economic environment around you prior to making a long-term investment decision. Is the economic growth in your community real, or temporary and fake? Has your community really gotten wealthier as a result of growing capital, or is it stimulus fooling us again? It’s not an easy question to answer. So many people were sucked into bad investments during the boom for the very reason that it can be hard to tell the difference. Those investments typically don’t come with a warning sign, and there are few barometers to help make one’s decision.However, there is one barometer which is a sure sign – interest rates. And unfortunately for us, they’ve been extremely low for quite some time. Does that mean the demand in the economy is all illusionary? No, but some part of it is. The million-dollar question – if not the billion-dollar question – is how much of the demand is real and how much is fake. Move Over Bernanke, It’s Mario’s Time to ShineBy Vedran VukWith Mario Draghi’s statements sending the S&P 500 upward over 2% yesterday, Bernanke must be a little jealous. The long-anticipated Jackson Hole meeting did little more than nudge the market. However, this makes complete sense. It’s no secret that the gorilla in the room is Europe. Even if Bernanke promised the world to the market, there’s only so much that he could deliver to stem the problems arising from the said gorilla. This is a European problem, and ultimately only Europe can solve it.So what did Mario say to send the market upward? He’s going to print more money, right? Well, sort of. First of all, interest rates have been kept the same, so he’s not stimulating the euro-wide economy, as the majority of financial economists predicted leading up to the meeting. Instead, he’s offering an unlimited bailout for Eurozone countries in the worst-case scenarios.Now, understand that this doesn’t mean the European Central Bank (ECB) will start purchasing every Italian and Spanish bond in sight. It will only do so to stem “irrational” speculation of a member country leaving the euro. For a country to qualify for this bond-purchase program, called the “Outright Monetary Transactions” (OMT), it will have to meet conditions which will be partially overseen by the IMF. Furthermore, only short-term bonds between one to three years in maturity will be considered. However, the bond purchases will be limitless; the ECB is willing do anything to keep the euro intact.Let me translate that into the most basic one-sentence message for traders across the world to understand: If you are betting that a particular country will get kicked out of the euro, the European Central Bank will beat you to a pulp.This isn’t a stimulus program sending the markets higher – it’s a promise of an unlimited safety net. Draghi has promised to throw in the kitchen sink to stop anyone from leaving the euro. No, the Eurozone is not in good shape, but the market seems to think that the worst-case scenario of a euro split up might be off the table.So what would trigger bond purchases from the ECB? According to Draghi, there is no set rule, and action will depend especially on volatility and liquidity, among other things. This approach makes sense, as it specifically targets the issue of irrationality. If bond yields are rising violently one day and crashing the next, then panic and irrationality might be driving the bond yields. However, slowly rising yields might not necessarily force the central bank to act.What does Draghi’s plan mean for our readers, who might be more skeptical of central-bank programs than the rest of the market? We can’t ignore that the ECB has made a major announcement here regarding the solvency of the euro. Though the euro might fall apart one day, it’s not going to be tomorrow.  Before a country leaves the euro, the ECB’s program will first have to fail. And considering that the program hasn’t even started, don’t expect Greece to leave the euro Monday morning. Why Do Journalists Get Economics So Wrong?By Vedran VukOver the years, I’ve heard many people gripe about the media. It’s always so anti-free market and economically illiterate. When there is some favorable mention of markets, it’s usually a trained economist or financial person. Insightful commentary from a journalist on economic matters is, sadly, a rare commodity. In my opinion, the root of the problem comes from the sort of person who wants to become a writer.As an analyst and a financial writer, I meet a lot of people who want to be writers. It’s quite a strange aspiration. Personally, I enjoyed studying economics and finance and kept having ideas which I wanted to share with others. Hence, I started writing about them. A few twists and turns later, and here I am.The problem with journalism is that most journalists come from the exact opposite approach. They decided to write long before having any background knowledge to write about. The vast majority of college freshman enter their first journalism or English class without anything important to say on the matters of economics and politics. Despite their ignorance in the ways of the world, they still want to write about it anyway. Reflect for a second on what an odd concept that is.It’s kind of like wanting to open an art gallery just so that you can sip wine with artsy people. Shouldn’t the point be to use your art as medium to express an idea or emotion or something else significant?Call me biased, but I’m of the persuasion that one should know something about a topic before writing on it. Otherwise, writing is just screaming at a mountain to hear one’s own voice. There’s no point to it.Unfortunately, after four years of reading poetry and the classics, the young aspiring writer is no better prepared for his or her future role of commenting on economics, politics, and science. After college, you’ve got a very dangerous weapon on your hands – a person who can write persuasively but doesn’t really know much about anything. It’s quite irresponsible of colleges to let such people loose on society.These journalists aren’t spending their waking hours studying economics to compose the best-informed articles. Instead, they’ll just formulate some half-baked idea from the top of their heads with little background knowledge to defend their assertions. Their goal is not to become the most knowledgeable economist, physicist, or historian. It is not the search for truth or important ideas which motivates most. Their goal is simply to write – and the bigger publication, the better. With this as the inspiration for many writers, why are we surprised to see so many economically illiterate articles in the media?While the lack of intelligent economic news articles is bad, far worse is the dearth of clear political thinking on economic matters. As a result of this ignorance, the government has centralized the economy to an extreme degree, rendering the maps we’ve used to guide our portfolios essentially useless.That’s why we teamed up with Sprott, Inc. to host the Navigating the Politicized Economy Summit, which is going on right now in Carlsbad, California. It features 28 economic experts who will help you devise strategies to profit from our overly politicized economy, including Doug Casey; Dr. Lacy Hunt, who was voted “most popular speaker” at our last summit; Karl Denninger, author of The Market Ticker, a daily market commentary; and Bob Hoye, chief financial strategist of Institutional Advisors and widely recognized for his unique approach to forecasting based on previous eras of financial booms.The Summit will also feature insights from true “insiders” into how the government waylaid the economy, including former US Comptroller General David Walker, and Dr. Thomas P.M. Barnett, who has worked in US national security circles since the end of the Cold War. And of course, there will be plenty of actionable investment advice from the Casey editorial team and other financial luminaries.You can hear every stock pick… every expert investment strategy… every recorded presentation with the Summit Audio Collection, which will be produced as soon as the conference ends on September 9.If you order before the Summit ends, you’ll save $100. Don’t miss out on this deal – it could prove to be the best investment decision you’ve made all year. Friday FunniesI’m not sure if the first Friday funny necessarily qualifies… I’ll let you decide. It will either make you laugh or cry. In this video, Peter Schiff goes to the Democratic National Convention and tries to get as many people as possible to support banning corporate profits. It’s amazing how many people agree with him.A Response the San Diego Padres Won’t Forget for Some TimeHere’s an article from Deadspin going viral about a job applicant’s hilarious response to getting rejected by the San Diego Padres baseball team one too many times. Please excuse the foul language:Taylor Grey Meyer estimates that she applied for a job with the San Diego Padres at least 30 times since moving to Coronado, Calif. initially in the sales office; but as she was alternately rejected and ignored, she lowered her sights. This past March, she applied for a minimum-wage job selling tickets at Petco Park. This is what she heard back:We want to thank you for your interest in the above mentioned position. We had many fine applicants for the position, including you. However, we have filled the position with someone whose background and credentials we feel best meet our needs at this time. We welcome you to apply for any future positions we have available that match your skills and experience.Sincerely,The Hiring Manager for the “Ticket Seller – San Diego Padres (San Diego, CA)”MLB Baseball JobsThat was that. She gave up on the Padres, and gave up on ever hearing from them again, until this past Sunday morning, when this showed up in Meyer’s inbox, from a manager in the sales office:On Sun, Aug 5, 2012 at 10:09 AM, <[Redacted]> wroteHi Taylor,I wanted to reach out to you as you had previously applied for a position here with the Padres to join our Inside Sales Program. While it may not have been a fit at the time, we appreciate your interest in the position and encourage you to pursue your dream of working in professional sports.With that being said, I wanted to make sure you are aware of an opportunity to get your start and to pursue a career in sports. Dr. Bill Sutton, author of Sports Marketing, has asked our organization to host the Sports Sales Combine here at Petco Park on September 14-15. It will be the first ever West Coast Combine! As a Combine attendee you would have the opportunity to spend quality time with the hiring managers for multiple teams from different leagues across the country.Job seekers like you have found this to be the most authentic training and networking experience available. The sales managers who join us claim the Combine is the best recruiting tool for them. Having been to multiple combines myself, and hired numerous people from the events, I could think of NO better way to get a start in the sport industry. This event could change your whole career. I know it changed the lives of some of my staff.Please note that this is NOT a job fair where participants spend a few minutes speaking with prospective employers. Over the two-day event, participants receive high-quality, one-on-one training from attending sales coaches and several unique opportunities to demonstrate their skills in addition to the hours spent with attending managers. You will have a chance to showcase your sales leadership skills as well.We anticipate attending sales managers will be looking to fill 50+ jobs at the Combine. Teams from the MLB, NBA, NHL, NFL, MLS and college athletics all use the combine as a key source to find talent for their organizations. This is your chance to make an impression on ALL of them in one weekend. Also, what better place to network and learn for a weekend than San Diego, CA?Taylor, as we look for the best young talent from across the country we wanted to make sure you were aware of the opportunity. You can find the combine application at Teamwork Online through the link below. I’ve also included a link to the Sports Sales Combine website.                          Combine Description and ApplicationPlease do not hesitate to reach out to me should you have any questions about this special event.All the Best,[Redacted]The Sales Combine is just what it sounds like: a job fair, the chance to join thousands of other applicants for five minutes of face time with potential employers. All for the low, low price of $495. Here’s what Meyer wrote back:On Sun, Aug 5, 2012 at 11:56 AM, Taylor Grey Meyer <[Redacted]> wroteHi [Redacted],I wanted to thank you for reaching out to me when thinking of ways to meet your quota for the Sports Sales Combine.After careful review I must decline. I realize I may be burning a bridge here, but in the spirit of reciprocity, I would like to extend you a counter-offer to suck my %&$#. Clearly, I don’t have one of these, so my offer makes about as much sense as yours. But for the price you’re charging to attend the event, I’m sure I would have no problem borrowing one.Managers like you have found this to be the most authentic training available. Real, hands-on experience getting you on your way to perfecting the techniques you will need to climb the corporate ladder. In these tough economic times, it’s always good to widen your skill set.Let’s talk about why I wasn’t a good fit with your organization. Was it my extensive education that made me less of a fit, that now paying $500 will allow me to overcome? My graduate work in sports commerce? Being a law student, working toward becoming an agent? Was it my past experience overseeing the execution of national and international events? Wait, I know, maybe it was my previous internship with Major League Soccer, and that I actually got my “start” in professional sports at the age of 15 when I volunteered at a minor league ballpark in my hometown. And given all that, I chose to apply with the Padres, at least 30 times since moving to San Diego. Persevering through countless anonymous email rejections, I continued to submit my resume despite never even being granted the courtesy of a face-to-face interview. All for the joy of making $30K a year. Maybe you’re right. Maybe I’m not the best fit for your company. But here’s a nice fit, my foot in your *#%.All the best,TaylorThat’s it for today. Thank you for reading and subscribing to Casey Daily Dispatch.Vedran Vuk Casey Senior Analystlast_img read more

One innovative market lets the users build it with

first_imgOne innovative market lets the users build it with modules, like WordPress, and with open source code. Another uses both Bitcoin and Litecoin and caters to customers in Eastern Europe and the Soviet bloc. One includes two-factor PGP encryption. The Silk Road marketplace was closed by the Feds on October 2nd. Its operator sits in a jail cell in New York. The users were scattered and victory was declared. But a funny thing happened while all the politicians, FBI agents, and assorted naysayers were congratulating themselves… The movement didn’t lay down and die. The people who comprise it did not run away like scared little sheep… like Fed victims had a hundred times before. Instead, they re-formed and got back to business. Today, there are at least six new, Silk Road-type marketplaces, including a Silk Road 2.0, with a new Dread Pirate Roberts. Six is probably a very conservative number, by the way. These new markets are improvements to the original Silk Road: That government workers are somehow a better class of beings, but perhaps only while they are working for the state. (If you’re not the most technically minded, all that jargon might not mean much. In essence, these are just examples of how the market is fighting back and getting more sophisticated and more secure with each new generation.) One more thing: If you think these markets are just about drugs, you’re missing the primary point. The discussion board at Silk Road was full of Rothbardian economics and the philosophies of freedom. What This Means What this means is that the Silk Road people – the Internet freedom people – refused to lay down and die. Rather than cringing in terror, they got back up and started rebuilding. So, instead of one Silk Road, there are now at least six. And there will probably be many more, soon. These people are pressing on. They are not running away. They believe that their way is the better way, and they are holding to it, regardless of slanders and threats and scams and attacks. And this means that the control freaks have lost a big battle. They attacked, they spread their terror, and they cranked the propaganda machine that for decades made the masses confess the enforcers as almighty. But this time the targets didn’t flee in terror, didn’t cower in fear, and no longer believed that the enforcers were gods. Instead, they acted according to their own judgment, and in their own interests. Circle autumn 2013 on your calendar, because the terror of the enforcers just failed, for the first time in a long time. Are There Lessons Here? Yes, and the big one is this: In the end, a better philosophy (if it is understood) wins. The free Internet and its free commerce philosophy offers men and women truth, understanding, and strong, direct relationships. The statist alternative offers fear, theft, punishment, an occasional promise of plunder, and intrusion into every relationship in your life. And even though statism had a massive initial advantage, the freedom philosophy is now asserting itself. Our ways are better and our people are better. And our free Internet, free commerce philosophy is producing people who aren’t quitting, even when they are bruised and bloodied. When you stop to think about it, a life of automatic obedience to the enforcer is based upon the wildest of claims: One new market claims to invite only top vendors and has promised a p2p-based escrow to prevent the possibility of administrators stealing user funds. They handle Litecoin and Bitcoin and provide good customer service.center_img That cops are more noble and trustworthy than we are, that their bosses are definitely nobler than we are, and that power does not, in fact, corrupt. Another operates on the I2P network rather than Tor and supports p2p escrow rather than centralized escrow. That intimidation, lies, threats, and violence are transformed into goodness when inflicted by men wearing blue shirts with brass pins. That politicians, whom we all know to be liars and money-whores, somehow produce pristinely moral results in their offices. Stated this way – and I think this is a fair way to state them – these ideas are ridiculous. Almost everyone knows that enforcers are more predatory and more threatening than average working guys. People certainly know it when they drive down a highway and pass one of them with a radar gun; they’ve just been conditioned to not connect certain dots. The great change of this moment is that the Internet people have started to act on what they know. A corner has been turned. It may be some time until the reality of it sinks in and spreads, but this is an important moment: This time, the victims refused to lay down and die. And the enforcers just watered the seeds of their own destruction. Paul Rosenberg FreemansPerspective.comlast_img read more

It would appear that someone is taking a position

first_imgIt would appear that someone is taking a position It was pretty quiet in gold everywhere on Planet Earth on Monday.  The price got sold down five bucks by 10:30 a.m. Hong Kong time, but gained it all back by the Comex open—after that it chopped and flopped into the close. The high and low ticks aren’t worth looking up. Gold finished in New York on Monday afternoon at $1,307.90 spot—down $1.20 on the day.  Volume was exceedingly light—and net of August and September, it was only 70,000 contracts. As to where we go from here is anyone’s guess.  Right now we have all these black swans vs. JPMorgan et al—and guessing how this plays out in the days and week’s ahead, is certainly a mug’s game.  But summer is getting a little long in the tooth in the Northern Hemisphere—and things may become clearer once we get into September.  However, it’s also reasonable to assume that we might have some sort of denouement before then. So we wait. And as I send this off into cyberspace at 5:05 a.m. EDT, I see that there have been some interesting price movements in both gold and silver during early London trading, but their respective prices weren’t allowed to get far—although silver is now back above the $20 spot price once again, but who knows for how long. Volumes in both metals are up quite a bit from where they were about ninety minutes ago, but are still very much on the lighter side.  It’s obvious that ‘da boyz’ are having little difficulty keeping prices under control with such low volumes.  So, like Monday’s price action, one shouldn’t read too much into what’s going on right now except for the fact that gold and silver prices are being capped once again. Platinum isn’t doing much—and there was absolutely no follow-through on the big run-up in palladium prices when Zurich opened at 9 a.m. Europe time. Of course, it’s always what happens in New York that matters—and I’ll be very interested in what the Kitco charts show when I roll out of bed later this morning. That’s all for today, which is more than enough—and I’ll see you here tomorrow. Platinum got sold down five bucks by around 10:30 a.m. Hong Kong time as well—and then chopped sideways for the remainder of the day—and then got sold down a few more dollars going in to the close.  It finished the day down 7 bucks. One thing I forgot to mention in Saturday’s column was how well the silver equities were doing compared to the underlying metal itself.  The silver stocks have risen every day for the last five consecutive days regardless of how well, or poorly, silver itself has done—and Nick Laird’s Silver 7 Index is up almost 10% during that time period.  It would appear that someone is taking a position. Of course, having said that, the shares will probably get crushed today. As I write this paragraph, London has been open about twenty-five minutes.  Gold got sold down a few bucks in Far East trading, with the low coming minutes after 1 p.m. Hong Kong Time.  But then it rallied back to just above unchanged—and it’s not doing much at the moment.  Silver got sold back below the $20 spot price mark the moment that trading began at 6 p.m. on Monday evening in New York—and it’s still below that mark as I write this, although it has recovered off it current low.  Volumes in both metals are fumes and vapours—and one shouldn’t read a thing into what’s going on price-wise at the moment. It’s more or less the same in platinum and palladium as well—and the dollar index is up 9 basis points at the moment. Because of the Bank Participation Report on Saturday, I didn’t post Nick Laird’s “Days of World Production to Cover Comex Short Positions“—so here it is now.  It looks pretty much the same as it has for years now, with three of the four precious metals permanently pinned to the right-hand side of this chart—and the only reason that gold doesn’t make it a clean sweep, is because of JPMorgan’s long-side corner in that metal.  But at the speed they’ve been reducing it, it’s only a matter of time before the chart reverts to what it used to look like—and that’s all four metals on the far right. The gold stocks opened in negative territory, but didn’t stay there long—and rallied into positive territory within ten minutes of the New York open.  After that they crept higher for the remainder of the Monday session—and the HUI closed up 0.74%. As has been the case for well over a month now, silver got sold down the moment that trading began on Sunday night in New York.  It bounced off $19.75 three time before rallying—and got stopped in its tracks about 20 minutes after the Comex open when it broke through the $20 spot mark.  From there it traded ruler flat until just before 1 p.m. in New York.  From there it rallied a bit more than a dime going into the 1:30 p.m Comex close—and then traded flat once again until shortly before 4:00 p.m. EDT in electronic trading.  Then it got sold down a bit into the 5:15 p.m. close. The low and high ticks were recorded as $19.915 and $20.18 in the December contract. Silver finished the day at $20.01 spot, up 9.5 cents on the day.  Net volume in silver was very light as well, only 20,500 contracts. Sponsor Advertisement The CME Daily Delivery Report showed that 607 gold and zero silver contracts were posted for delivery on Wednesday within the Comex-approved depositories.  The only short/issuer worth noting was Jefferies with an even 600 contracts.  The three largest long/stoppers were JPMorgan in its client account with 306 contracts—Canada’s Scotiabank with 135—and Barclays with 94.  Morgan Stanley was a distant 4th with 58 contracts.  The link to yesterday’s Issuers and Stoppers Report is here. CME’s Preliminary Report for the Monday trading session showed that open interest in gold for August is now down to 1,882 contracts—and to get a more accurate picture of what’s left in the August delivery month, you have to subtract out the 607 contracts posted for delivery tomorrow, so that leaves about 1,200 contracts and a bit left. There were no reported changes in GLD yesterday—and as of 6:36 p.m. EDT yesterday evening, there were no reported changes in SLV, either. Joshua Gibbons, the “Guru of the SLV Bar List” finally updated his website with the weekly changes in SLV as of the close of trading last Wednesday—and here is what he had to say.  “Analysis of the 06 August 2014 bar list, and comparison to the previous week’s list: 141,357.9 troy ounces were removed, no bars were added or had a serial number change.  The bars removed were from: Henan Yuguang (all). As of the time that the bar list was produced, it was overallocated 90.8 oz.—and does not reflect a 767,710.4oz deposit on Wednesday.” The good folks over at the short Internet site updated the short positions in both SLV and GLD up to and including July 31—and this is what they had to report.  The short position in SLV declined by 15.01 percent—from 20.44 million shares/troy ounces, down to 17.37 million shares/troy ounces.  The 2.8 million net ounces of silver added to SLV since the beginning of August will have to wait for the next report, which will be close to the end of month.  Undoubtedly, this silver that was deposited was being used to pay down a short position. There was also a decent decline in the short position of GLD as well, as it dropped by 21.65 percent, from 1.47 million troy ounces, down to 1.15 million troy ounces. I’m happy to see these numbers—and I’m sure that Ted Butler will have something to say about them in his mid-week commentary to his paying subscribers on Wednesday afternoon. There was a tiny sales report from the U.S. Mint yesterday.  They sold 1,500 troy ounces of gold eagles—and 200 one-ounce platinum eagles. There was big movement in gold over at the Comex-approved depositories on Friday, as 389,015 troy ounces were reported received—and only a tiny 195 troy ounces were shipped out the door.  All the big receipts were at JPMorgan and HSBC USA.  The link to that action is here—and it’s worth a quick peek. The activity in silver was a bit more subdued than normal, as 182,118 troy ounces were received—and 240,639 troy ounces were shipped out.  Almost all the activity was at Brink’s, Inc.—and the link to that is here. I have a boat load of stories for you today—and feel free to edit ruthlessly. The average weekly turnover this year in the COMEX silver warehouses is 4.5 million oz or two full days of world silver mine production (2.2 million oz of silver are mined daily). While we’ve had some unusual recent activity in the COMEX gold warehouses (as previously reported), I would guess (from memory) that COMEX gold warehouse weekly turnover has been no more than 40,000 oz over this year, making the weekly gold turnover 15% of one day’s world mine production (275,000 oz). The weekly silver warehouse turnover is 200% of daily mine production, while the weekly COMEX gold turnover is 15% of a day’s gold mine production. Why the disparity? The most plausible explanation that comes to my mind is related to silver’s industrial demand component. Silver is being brought into and taken out from the COMEX warehouses because it is in high demand from industrial and other fabrication needs. There is much less urgency for investors to move metal around (as long as it’s in a safe place) and since gold is primarily an investment metal, there would appear to be little need to move it for investment purposes. And it’s not just against gold that silver’s warehouse turnover appears stark; compared against purely industrial metals (like copper), the silver warehouse movement relative to mine production is also off the charts. The almost unreal level of physical turnover in the COMEX silver warehouses begs for an explanation. I say it points to physical tightness and I continue to solicit your explanations. – Silver analyst Ted Butler: 09 August 2014 There’s not a lot to talk about regarding yesterday’s price action, as it was pretty anemic—along with the volume figures that went with it.  But I was happy to palladium make a decent move. Here are the 6-month charts for both gold and silver—and not a thing has changed since Friday.center_img The dollar index closed late on Friday afternoon in New York at 81.40.  It rallied a handful of basis points during Far East trading before chopping sideways for the remainder of the Monday trading session.  It closed at 81.44. Here’s a photo I took of Sunday’s perigee full moon.  It doesn’t look much different that the July perigee moon I posted in this space last month. $1,150 an Ounce According to the CEO of a mining company, the name of which must be kept confidential, that’s where the price of palladium is headed very soon. The reason is, demand for palladium has been outstripping supply for years—depleting stockpiles down to a 10-year low. Soon, prices could skyrocket. The Casey Research team has found an opportunity to earn greater, leveraged gains on the metal itself. They estimate it could double or triple your money… even hand you a 5-to-1 return in the months ahead and beyond. Click here for all the details of this 5x investment. Palladium got sold down a couple of bucks as well in the early going in Far East trading on their Monday, before trading flat until shortly after Zurich opened—and then rallied for the remainder of the day—and as the chart shows, the price appears to have been capped at the $874 level.  Palladium finished up $15 on the day. The silver equities opened unchanged—and took off from there, with most of the gains in by 10 a.m. EDT.  From there, they also crept higher, before selling off a hair into the close.  Nick Laird’s Intraday Silver Sentiment Index closed up a healthy 2.03%. This little fellow is a Carolina locust/grasshopper.  It’s very common—and this one landed on the asphalt path right in front of me when I was out on Sunday afternoon, so I couldn’t resist.last_img read more

Want Your Team to Collaborate More The Answer Is Surprisingly Simple

first_img Nina Zipkin Add to Queue Learn how to successfully navigate family business dynamics and build businesses that excel. Next Article Free Webinar | July 31: Secrets to Running a Successful Family Business Want Your Team to Collaborate More? The Answer Is Surprisingly Simple. Communication Image credit: Shutterstock The technology we have at our disposal makes it possible for many companies to offer comprehensive remote work options. But a recent study has found that if you want to increase collaboration among your employees, proximity is the answer.The MIT research looked at the work that went into 40,358 published papers and 2,350 patents developed at the university from 2004 to 2014, and found that actual face-to-face interaction and sharing work space led to more collaboration across different disciplines.Related: Want to Build Relationships? Find Ways to Laugh Together.“If you work near someone, you’re more likely to have substantive conversations more frequently,” explained the study’s lead author Matthew Claudel, a doctoral candidate in MIT’s Department of Urban Studies and Planning. “You have a better chance of meeting someone, connecting and working together if you are close by spatially.”Claudel found that researchers who sat in the same work space were three times as likely to collaborate on papers compared to those who work 400 meters away from each other. The frequency of collaboration is halved when researchers are 800 meters apart.So based on the MIT findings, if you want to create a space that inspires innovation, make it possible for your employees to talk things out face to face.center_img A new study from MIT says you can improve productivity if you do this. –shares Entrepreneur Staff July 13, 2017 2 min read Staff Writer. Covers leadership, media, technology and culture. Register Now »last_img read more

HewlettPackard Is Planning Massive Job Cuts

first_img Reuters Add to Queue Hewlett-Packard Co, which plans to split into two listed companies this year, said it expected to cut about 33,300 jobs over three years as the tech pioneer adjusts to falling demand.The latest cuts, on top of 55,000 layoffs previously announced under Chief Executive Meg Whitman, will mostly be in HP’s faster-growing corporate hardware and services operations, to be spun off as Hewlett Packard Enterprise, or HPE, on Nov. 1.The latest cuts indicate a reduction of the company’s total workforce by at least 10 percent, based on its most recent number of more than 300,000 employees as of Oct. 31, 2014, and reflecting the previously announced reduction of 55,000.Up to 30,000 of the layoffs will be in the enterprise business and up to 3,300 in HP Inc, the company that will continue to make personal computers and printers, HP said in a regulatory filing on Wednesday.The restructuring will result in pretax charges of about $2.7 billion at HPE and $300 million at HP Inc, which has been hit hard by a relentless decline in sales of PCs.The charges will be taken between the current quarter and the end of fiscal 2018, ending Oct. 31.”We’ve done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring,” Whitman said in a statement on Tuesday when HP announced forecasts for the two new companies.Job cuts have become a way of life at HP in recent years as the company digested a series of acquisitions that failed to revive its fortunes.”The number is sadly larger than some people might have expected, but I think it’s a reflection of how much trouble HP has been having with its services,” Charles King, president of Pund-IT, a Silicon Valley IT consulting firm.LOWER-COST LOCATIONSChief Financial Officer Cathie Lesjak said last month that HP expected the previously announced job cuts of 55,000 to increase by up to 5 percent by the end of October.HP said it was moving more of its workers to lower-cost locations as part of its efforts to cut costs.In its 2013 fiscal year, the company said 36 percent of its employees in enterprise services worked in what it called low-cost locations. This year 42 percent do, and executives said they plan to increase that percentage to 60 percent by 2018.In its fiscal third quarter ended July 31, HP’s revenue from its PC and printer business, its largest, fell 11.5 percent.HPE, which will be run by Whitman, will have revenue of more than $50 billion, and is expected to report an adjusted profit of $1.85 to $1.95 per share in 2016, HP said on Tuesday.The business is expected to report free cash flow of $2.0 billion to $2.2 billion in 2016, at least half of which is expected to be returned through dividends and share buybacks.HP said it expected the market for PCs and printers to remain tough for “several quarters” and forecast 2016 earnings for HP Inc of between $1.67 to $1.77 per share, excluding items.The business is expected to report free cash flow of $3 billion to $3.3 billion in 2016, at least half of which is expected to be returned through dividends and share buybacks.HP shares were up 0.9 percent at $27.35 in premarket trading on Wednesday. The stock fell 1.4 percent in extended trading on Tuesday after the release of the forecasts.Maxim Group analyst Nehal Chokshi blamed the initial market reaction on the cash flow target for HPE, which he said looked short of the contribution needed to meet analysts’ forecasts.(Reporting by Abhirup Roy and Devika Krishna Kumar in Bengaluru and Heather Somerville in San Francisco; Writing by Christian Plumb; Editing by Leslie Adler and Ted Kerr) Image credit: REUTERS | Stephen Lam This story originally appeared on Reuters Enroll Now for $5 Fireside Chat | July 25: Three Surprising Ways to Build Your Brand –sharescenter_img 4 min read September 16, 2015 Hewlett-Packard Is Planning Massive Job Cuts Next Article Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Layoffslast_img read more

Labels Truly Matter Especially to Influencers Such as Amy Schumer Lessons From

first_img 1 min read Lessons of the week Image credit: Christopher Polk/Getty Images for The Critics’ Choice Awards Next Article –shares Labels matter. Glamour’s recent issue was targeted to plus-size women, and included Amy Schumer’s name on the cover. The problem? Schumer isn’t plus sized. The comedian wasn’t thrilled. The lesson here? Make sure you understand a trend if you’re going to use it to boost your brand.Time to unwind. After work, it’s important to find a way to relax. How’s how billionaire Warren Buffett does it.It’s all in a name. In case you need a reminder of how important the name of your business is, just consider the acronym of the Antonin Scalia School of Law — ASSoL or ASSLaw. You may be laughing now, but it wouldn’t be so funny if it were your brand at the butt of the joke.Think big. Want to brush up your critical thinking skills? Here are eight things exceptional thinkers do every single day. Staff writer. Frequently covers franchise news and food trends. Add to Queue Labels Truly Matter, Especially to Influencers Such as Amy Schumer — Lessons From This Week’s Headlines April 9, 2016 Opinions expressed by Entrepreneur contributors are their own. 2019 Entrepreneur 360 List Lindsay Friedman The only list that measures privately-held company performance across multiple dimensions—not just revenue. Apply Now »last_img read more

Better sleep helps students to improve final exam performance

first_img Source: Reviewed by James Ives, M.Psych. (Editor)Dec 3 2018Students given extra points if they met “The 8-hour Challenge” — averaging eight hours of sleep for five nights during final exams week — did better than those who snubbed (or flubbed) the incentive, according to Baylor University research.”Better sleep helped rather than harmed final exam performance, which is contrary to most college students’ perceptions that they have to sacrifice either studying or sleeping. And you don’t have to be an ‘A’ student or have detailed education on sleep for this to work,” said Michael Scullin, Ph.D., director of Baylor’s Sleep Neuroscience and Cognition Laboratory and assistant professor of psychology and neuroscience in Baylor’s College of Arts & Sciences.While students who successfully met the sleep challenge received extra points, the “mini-incentive” was not included in the analysis of how well they performed on the finals, stressed Elise King, assistant professor of interior design in Baylor’s Robbins College of Health and Human Sciences.”They didn’t just perform well because they received extra points,” she said. “Students know that sacrificing sleep to complete school work is not a healthy choice, but they assume they don’t have a choice, often remarking that there aren’t enough hours in the day for coursework, extracurriculars, jobs, etc. “This removes that excuse.”Research participants included undergraduate interior design students and students in upper-level psychology and neuroscience classes. While the psychology classes emphasized education about sleep, the interior design students did not receive any formal training in sleep. Those who opted to take the challenge wore wristband sleep-monitoring devices for five days to ensure accurate study results.”The students didn’t need the extra credit to perform better, and they weren’t really better students from the get-go,” Scullin said. “If you statistically correct for whether a student was an A, B, C, or D student before their final exam, sleeping 8 hours was associated with a four-point grade boost — even prior to applying extra credit.”The collaborative interior design study — “The 8-Hour Challenge: Incentivizing Sleep During End-of-Term Assessments — was published in the Journal of Interior Design. Scullin’s study of psychology students — “The 8-Hour Sleep Challenge During Final Exams Week” — was published in Teaching of Psychology.Poor sleep is common during finals as students cut back on sleep, deal with more stress, use more caffeine and are exposed to more bright light, all of which may disrupt sleep. Fewer than 10 percent of undergraduates maintain the recommended average of 8 hours a night or even the recommended minimum of 7 hours, previous research shows.But with incentives, “we can potentially completely reverse the proportion of students meeting minimum sleep recommendations — 7 hours a night — from fewer than 15 percent up to 90 percent,” Scullin said. “Half of students can even meet optimal sleep recommendations of 8 to 9 hours.”PSYCHOLOGY STUDENTS In the study of psychology students, 34 students in two undergraduate courses could earn extra credit if they averaged 8 hours of sleep during final exams week or at least improved upon their sleep from earlier in the semester.Related StoriesSleep decline in one’s 50s, 60s increases risk of Alzheimer’s diseaseSleep quality and fatigue among women with premature ovarian insufficiencyI’m a CPAP dropout: Why many lose sleep over apnea treatmentThe 24 who opted to take the challenge averaged 8.5 hours of sleep, with 17 meeting the goal. On the final exam, students who slept more than 8 hours nightly performed better than those who opted out or slept less than 7.9 hours. (The incentive was 8 points — the equivalent of 1 percent of a student’s overall class grade.)”It’s worth noting that one student who had a D-plus grade before the final but slept more than 8 hours a week during finals week, remarked that it was the ‘first time my brain worked while taking an exam,'” Scullin said.INTERIOR DESIGN STUDENTSIn the interior design study challenge, students earned credit (10 points on a 200-point project) if they averaged 8 or more hours a night but received no grade change if they averaged 7 to 7.9 hours a night.Of the 27 students enrolled in the program, 22 attempted the challenge. Compared with a group of 22 students who did not try for the extra points, very few (9 percent) averaged 8 hours or even 7 hours (14 percent).The 8 hour challenge increased the percentage of 8? and 7?hour sleepers to 59 percent and 86 percent respectively. Students who took part in the challenge slept an average of 98 minutes more per night compared to students who were not offered the incentive but were monitored.”Critically, the additional sleep did not come at a cost to project performance,” King said. “Students who showed more consistent sleep performed better than those who had less consistent sleep. And students who achieved the challenge performed as well or better than those who did not take the challenge.”In a study of sleep and creativity done in 2017, King and Scullin found that interior design students with highly variable sleep habits — cycling between “all-nighters” and “catch-up” nights — had decreased cognition in attention and creativity, especially with major projects. Design students customarily complete finals projects rather than final exams.”Whether or not they ‘pull an all-nighter,’ when students cut their sleep, the effects are obvious,” King said. “They have trouble paying attention during class, and they aren’t as productive during studio time.”She noted that there is a cultural acceptability — at least in design professions — related to sleep deprivation, thanks in part to the notion of the “tortured artist” who finds inspiration in the wee hours.”Some fields might find it unprofessional, but for many years, in design, sacrificing sleep was viewed as a rite of passage. That’s something we’re trying to change,” King said. “Even during stressful deadline weeks, students can maintain healthy sleep habits.””To be successful at the challenge, students need to manage their time better during the day. Getting more sleep at night then allows them to be more efficient the next day,” Scullin said. “By training students in their first year of college, if not earlier, that they can sleep well during finals week without sacrificing performance, we may help to resolve the ‘global sleep epidemic’ that plagues students in America and abroad.”last_img read more