[youtube=http://youtube.com/watch?v=zzgVy6Mj2Bw]
Category: History
“Visa Inc., the largest payment-card network, set a record for U.S. initial public offerings today by raising $17.9 billion, more than expected… It values the entire company at $42.5 billion.”
“The IPO eclipses AT&T Wireless Group’s $10.6 billion stock offering in 2000 and ranks second in the world after the $22 billion debut in 2006 of Industrial & Commercial Bank of China Ltd.” – Bloomberg
Visa Raises $17.9 Billion in Record-Setting U.S. IPO
Update: Visa sold additional $1.8 billion worth of IPO shares bringing the total tally to $19.7 billion. (Source)
“Software went through a period where it got way too complex. We have a concept that focuses on simplicity…”
People started wearing shoes around 40,000 years ago, according to a study on recently excavated small toe bones that belonged to an individual from China who apparently loved shoes.
“The U.S. Federal Reserve on Tuesday slashed U.S. interest rates (the overnight rate at which banks lend each other) by a hefty three-quarters of a percentage point, the biggest rate cut in more than 23 years, in an emergency bid to lend support to a U.S. economy some fear is on the verge of recession… The last time there was a rate cut of at least three-quarters of a point was in October 1984.” – Reuters
The interest rate cut has steadied the global markets which were previously in a free fall.
As a result of Fed’s rate cut, the CBOE Market Volatility Index (VIX) (so-called stock market fear gauge) spiked to its highest level seen since the end of the previous bear market before paring gains, as the major stock market indexes bounced off earlier lows.
“Times have changed since Gordon Gekko quoted Sun Tzu in the 1987 movie Wall Street. Has the Bhagavad Gita replaced The Art of War as the hip new ancient Eastern management text?”
“One key message is that enlightened leaders should master any impulses or emotions that cloud sound judgement. Good leaders are selfless, take initiative, and focus on their duty rather than obsessing over outcomes or financial gain. “The key point,” says Ram Charan, a coach to CEOs such as General Electric Co.’s (GE ) Jeffrey R. Immelt, “is to put purpose before self. This is absolutely applicable to corporate leadership today.”” – BusinessWeek
Update: A full multi-lingual translation of Bhagvad Gita can be found at : www.bhagavad-gita.org
Researchers have found that low self-esteem and materialism are not just a correlation, but also a causal relationship where low self esteem increases materialism, and materialism can also create low self-esteem. The also found that as self esteem increases, materialism decreases.
“The only reason a great many American families don’t own an elephant is that they have never been offered an elephant for a dollar down and easy weekly payments.” 🙂
The Consumer Paradox: Scientists Find that Low Self-Esteem and Materialism Goes Hand in Hand
The plummet of the dollar — The Chinese are sitting on too many dollars to divest; they would lose too much. The Europeans are taking advantage of the Chinese position, selling off greenbacks, forcing the dollar down faste.
I was delighted to attend Irving’s talk this morning. Some thoughts I retained and that I thought you may find insightful:
- Innovation: Move from Technology innovation to Business innovation and Societal innovation
- Complexity in IT: The need to learn from other engineering disciplines
- Traditionally we have been compensating the lack of engineering with good/talented labour (consultants)
- Business simulations to get it right the “first” time, like micro-processors/airplanes
- The move from Industrial economy to Knowledge economy
- And the move from “Classical” Engineering to “Services Sciences”
- Moving up the value-chain/pyramid: At the very bottom is Technology, then Products, then Applications and then Business
- Far fewer jobs expected at the bottom, and only the very best will be needed and will survive.
- Move up the value-chain to do an interesting job
- Business optimization > Business > Applications > Products > Technology
- Flexibility and Adaptability – Not just important for success (opportunity) but important for survival (fear)
- Fear >> Opportunities. Fear is more effective, typically.
- Biological systems and eco-systems: Survival of the fittest
- Business: Ability to respond to change
- Personal also.
- Human Designs – Visual, Interactive and Immersive interfaces for everything (virtual worlds)
A timeline of the conflicts, trends and transformations that helped shape modern India.