Saturday, October 20, 2012

Interview ? John Bird founder of The Big Issue | The Cambridge ...

Photo - Martin Gammon

Photo - Martin Gammon

John Bird is a British social entrepreneur and co-founder of The Big Issue, a magazine edited by professional journalists and distributed by street vendors affected by homelessness. The magazine offers people affected by homelessness the chance to earn a legitimate income and today is published in four continents and in multiple languages. Bird himself became homeless at the age of five and has been in prison or on the streets a number of times since - he prides himself on being someone who once was part of the problem and is now part of the solution. He was awarded an MBE for services to homeless people in 1995.

Speaking at the Beyond Profit (Cambridge's only social enterprise society) Annual Lecture on Tuesday night, Bird created a relaxed atmosphere by drinking a glass of Guinness during the speech and kept the crowd laughing throughout. Going back to the early 1990s when Gordon Roddick, co-founder of The Body Shop, asked him to start a magazine to help homeless people, Bird expressed that his first reaction was "I'm not doing anything for nothing; I have a wife and two children." In an interview with The Cambridge Student before the Beyond Profit lecture, Bird tells how this clear motivation for profit can be combined with contributing to a social cause

The Big Issue is not a charity magazine; it's an ethical business. Where do you have to draw the line between being ethically responsible and making a profit? Or do you think that there is no line?

Being ethically responsible is rather strange when you talk about business. My attitude is that we [The Big Issue] run the same ads that, for instance, the Guardian would run - the Guardian's a pretty good measure by which you can gauge ethical issues. If ads are run in the Sunday Times, that's a different issue. So we have our guidelines. We don't take cigarettes, we take drinks because the Guardian takes drinking, but we don't take stories which are unethical. We would never run an anti-gypsy or a racist story. We're very careful, but at the end of the day, we do have to make a living. I've often got into trouble, especially with other similar newspapers, some of which I started, saying we're too commercial. And I say "Yeah, but we're here to sell as many papers as possible in order to give work to the homeless". We're not a homeless paper: we're a paper sold by homeless people. And that's an important difference.

Is the street-vending model profitable? (Would the magazine sell more copies if it were sold in stores?)

We wouldn't sell more copies, because what people are largely buying is the relationship with the vendor. The relationship with the vendor is of vital importance because people say, "I buy the paper from a homeless or an ex-homeless person I can talk to, I can learn about their life, I can engage".

Do you think it's important that vendors read the magazine themselves?

I think it's very important that the magazine is read by vendors because the magazine is for them; we're treating them the way we treat every other member of the public. The problem with the vendors, of course, is that they could see an advertisement for a holiday which they're never likely to go on. But that's the same for millions of other people. I always say that the vendors who sell very well are the vendors who read the paper and then tell the people what's in it - they can say "Oh, look what's in this!". A lot of vendors always claim that they know me, and that they read my stuff, but I'm not so sure whether they do.

Are the vendors of The Big Issue quite a dynamic group, with some leaving as they receive housing and other types of employment and others entering, or do some vendors stagnate in the same position for long periods of time?

It depends on where you are. In Cambridge, you've got a regular group of people who've been selling for quite a period of time (and that's one of the reasons why we've developed a digital publication which is going to be launched on the 21st November, called Answers From Big Issue). One of the things that I'm trying to do is to create new forms of employment away from the streets so that vendors can then not just sell on the streets but also become content providers and write stuff for us, or deliver magazines to people who've pre-ordered them. Turning vendors into deliverers is a whole new way of employing homeless people away from the streets. But the problem with people we meet through The Big Issue is that they have been around homelessness for quite a long period of time, they've got severe problems because they've been in and out of it, and we often meet them when they are at their lowest. So sometimes, you're holding those peoples' hands until the day they die. Others, you're helping to move very quickly. I always say that The Big Issue's a bit like the sea. The nearer the top of the water you are the more the oxygen, the deeper the less oxygen. So very few fish at the bottom move up very quickly. But then, it could be that those at the bottom have never really had a proper job and have never really established their own credentials, so no one's going to give them a job, and it could be people who are so mentally and physically unable that they're going to be with us forever.

The Big Issue is now published and sold in four continents and in multiple languages. I read online that in July 2010, 2000 copes of The Big Issue Malawi were circulated. Did you foresee the global impact that setting up the magazine would have?

No. When we started The Big Issue, we started it for a very specific problem, which was the fact that the middle of London was full of homeless people sleeping on the streets who were causing problems for themselves and the public, and the police were being brought in. When other people in other parts of the UK saw what we were doing, they came to us and they said, "Can you bring The Big Issue here?" - to Bristol, to Brighton, to Manchester and so on. And then a French camera team came over to see me and made a film about us for French television, and then there was a paper in France. Then there was a German camera team, and then a Russian one. So all these people started to beat on our door, saying "Wow, you're working with homeless people who would normally have been in trouble." So it spread. We never knew it was going to be so important, and we had no idea whether it was going to work. We weren't really professional business people - we just had a fierce determination to help the homeless.

Is the content of the non-UK editions of the magazine completely local to the country that it is being published in, or is there some content that exists across different editions?

Well, what we say to our international sisterhood is that any article we do, you can have. Last year we had an interview with Prince William, and it was picked up by the organization that we helped to start, the International Network of Street Papers, and they spread the interview all over the world. Japan is always asking us for interviews with Beckham, or interviews with Prince Charles. The Japanese and the Taiwanese and the Koreans are very desirous of us having the top stars, whether it's Lady Gaga or whoever. So if we get it, we immediately offer it to them. We don't get paid for it. We do everything as a service, and it's worked largely quite well.

In 2007, you announced your intention to stand for election to be Mayor of London, and later took back this decision. Do you see yourself involved in politics in the future? Why or why not?

Well, I got involved largely because David Cameron let it be known through various other people - he was in opposition at the time - that he wanted me to stand for the Mayor of London against Ken Livingstone. I said I'd consider it, but they said I'd have to join the Conservative Party and I wouldn't do that because I'm not conservative. Then they had to go for Boris and he got the job - Boris was very pleased that I refused to do it. And then I was going to stand as an independent, but then when James Oyebola was murdered by some lads in a club at the beginning of the smoking ban - they shot him in the head because he tried to stop them smoking - I thought... God, if I get involved with politics, then I will be explaining why the drains are not working, or the planes are not working, or the trains are not working. I'd rather be trying to fight for social justice. I don't think I would ever go into conventional politics, but I'm a political animal. I've just finished a book called The Necessity of Poverty, which is all about the politics of poverty. The other thing is, and people complain at me, they say, "Why did you let David Cameron be guest editor?" "Why did you let Tony Blair be guest editor?" And I say, "Look, I'm a provider. I provide for the homeless and the needy." I cannot have a left or a right badge - if you're receiving support from the general public, then you can't piss off one lot for the sake of another lot because you might lose some of your readers - and that would affect homeless people. So I have to be politically neutral, which is difficult because I consider myself a revolutionary.

Iravati Guha

Source: http://www.tcs.cam.ac.uk/issue/interviews/interview-john-bird-founder-of-the-big-issue/

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Friday, October 19, 2012

2 car brands that just need to give up

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When the quarterly sales reports and corporate filings are released, the auto industry's news is full of the successes and failures. Lots of talk about how well or badly GM, Ford, Toyota, and the others are doing proliferates the press. Yet two companies are still plugging away at the U.S. market despite repeated, long-term abysmal sales figures.

The question is: why are they still bothering?

The two companies, of course, are Mitsubishi and Suzuki. Both make decent products and both are competing in markets where sales figures are traditionally very high - small cars, crossovers and SUVs. Neither company has made any real headway into the North American market in decades, however, and we have to wonder why they are continuing to try.

Mitsubishi
This company's sales figures for the year so far are continuing to drop. They're down under 5,000 units per month now and continuing to slide at double-digit losses year-on-year. They hold less than half of one percent of the total U.S. market.

Mitsu pretty much sealed its own fate when it took part in a very horrible deal with Chrysler back in 1978 to re-introduce the powerful Challenger name under a rebranded Galant. From that serious FUBAR, there was no recovery possible. Since then, despite the appeal of the Lancer and the steady popularity of the Outlander, Mitsubishi has yet to gain anything more than a toehold on the American market.

Suzuki
Known primarily in motor sports of the two-wheeled variety, and jokingly referred to as "Su-sucky" by Harley riders and Honda Davidson bikers, this company actually does very well in that market. In automobiles, however, they are barely half of what Mitsubishi is, making them the smallest major brand still selling in the U.S. Their total market share in this country is barely 0.2% and they're now selling under 2,000 vehicles per month in America.

Their success in the motorcycle markets are likely what sealed the deal for nipping any hope of a foothold in the automotive market for them. Since the name Suzuki is forever equated for most Americans with motocross and cheap around-town bikes, the cars and trucks they want to sell (yes, they have pickups) here are often poo-poo'd as "four wheeled motorcycles." If they even get noticed.

It's too bad too because the company's SX4 line of cars and crossovers and their Grand Vitara SUV are solid offerings.

Volvo?
By all rights, Volvo should also be included on this list. While the brand has a die hard core following of buyers, they actually sell fewer cars than Mitsubishi does, holding roughly the same amount of the market. So why not include them as a carmaker that should quit the game in the U.S. and concentrate elsewhere?

Because not only is Volvo innovative, but they have a good reputation and are well-liked in general by most American car buyers. Their only issue is cost, which is generally higher than the equivalent European import from the competition. Besides, making fun of Volvo is like making fun of the Volt. It's just an invitation for an inbox full of hate mail with no end in sight.

Source: http://www.torquenews.com/1080/2-car-brands-just-need-give

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Sprint Nextel takes control of Clearwire after increasing stake to 50.8 percent

A securities filing has just revealed that Sprint Nextel has acquired 50.8 percent of Clearwire Corp giving it control of the firm. The deal comes after buying out Eagle River Holdings' stake in the telco. This comes just days after Sprint was subject to a sale of its own, to Japanese operator Softbank. The news is the latest twist in the up and down relationship between the two firms, and hints at a more assertive LTE strategy -- given that it now has more say over Clearwire's spectrum. Although it remains unclear how this will affect deals with other operators. If you really want to get in to the nitty-gritty, head on down to the Securities and Exchange Commission doc in the source link below.

[Thanks, James K]

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Sprint Nextel takes control of Clearwire after increasing stake to 50.8 percent originally appeared on Engadget on Thu, 18 Oct 2012 08:04:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/10/18/sprint-nextel-takes-control-of-clearwire-after-increasing-stake/

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Taylor Swift paints love "Red" in new album

LOS ANGELES (Reuters) - Country-pop star Taylor Swift has won over a legion of devoted fans in the past six years with her raw, honest lyrics of romance and heartbreak.

Now, at the grand age of 22, the five-time Grammy winner is says her new record "Red," to be released on Monday, "the most adventurous album I've ever made."

"'Red' is really kind of diary entries of the last two years of my life," Swift told Reuters in a telephone interview.

"There were beginnings and ends and there were ups and downs, and lessons that I learned and then had to learn all over again the exact same way ... the ups and downs of the whole experience of falling in love and being let down and letting go and starting over," she said.

"Red," Swift's follow-up to her 2010 best-seller "Speak Now," sees the singer-songwriter collaborate with the likes of British singer Ed Sheeran and pop music producer Max Martin.

The catchy pop-infused lead single "We Are Never Ever Getting Back Together" was an instant hit when it was released in September, becoming Billboard's most-downloaded first week digital single.

And like many of Swift's other songs, it had fans guessing over which of her many brief but high-profile romances she was referring to.

John Mayer? Joe Jonas? Taylor Lautner? Jake Gyllenhaal? Swift isn't telling.

"It helps me to know that 90 percent of what those little blog posts and articles say isn't true at all," said Swift, who is currently dating Conor Kennedy, 18, the son of Robert F. Kennedy Jr. "The one bit of privacy that I have is knowing that I know who inspired those songs and I don't tell anyone.

"For me, keeping my private life private and only sharing it with people through my music allows me to have that connection with my fans and not shut them out of anything. But it allows me to also have something that's just mine."

The singer has dealt with her fair share of critics expounding on everything from her music to her personal life. Although she used her Grammy-winning song "Mean" to send them a message, Swift claims she doesn't pay much attention to what people say.

"I don't really read anything so I don't know what's being said, which kind of allows me to make music from a pure place of just making the music that I love, Swift said. "People have been saying I was too pop since my first album so I'm used to that."

Along with music, Swift has become a branding powerhouse, with a line of lucrative sponsorship deals. She was named the highest-earning celebrity under 30 this year by Forbes magazine, which estimated her 2011 earnings to be $57 million.

Despite her superstar status, the singer is keen to keep herself grounded, crediting her friends for providing her with "some semblance of a normal life."

"I got to understanding how much I need my friends and how much I need to call them when I'm not around them ... because it turns out I am the kind of person that needs to run everything by my friends no matter what," Swift said with a laugh.

(Editing by Bill Trott)

Source: http://news.yahoo.com/taylor-swift-paints-love-red-album-003643091.html

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Thursday, October 18, 2012

Is Microsoft A Value Trap? | AllFinancialMatters

I read an interesting short piece in this morning?g WSJ about how Microsoft?s fate.

I want to concentrate on the last paragraph:

?It [Microsoft] has reportedly ordered three million to five million Surface tablets that carry the software for this quarter versus 17 million iPads sold last quarter. If its orders prove justified, that will be good enough. If Windows 8 flops, this value stock will turn into a value trap.?

??turn into a value trap.??

From the look of this chart, it looks like Microsoft already is a value trap:

Microsoft Adjusted Closing Price History

I might misunderstand ?value trap? but it looks like Microsoft will reach the $32 range and then fall back to $29 or so and sit there for a long time. Then, it will announce earnings, get a little bump back to $30 ? $32 and then fall right back down again.

That said, the stock is up 14% this year (the S&P 500 is up over 18% this year on a TR basis).

Source: http://allfinancialmatters.com/2012/10/18/is-microsoft-a-value-trap/

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Airstrikes in northern Syria kill at least 43

In this Wednesday, Oct. 17, 2012 photo, citizen journalism image provided by Edlib News Network, ENN, which has been authenticated based on its contents and other AP reporting, Syrian citizens gather to rescue people from under the rubble of a building that was destroyed from a Syrian force airstrike, at Kfar Nebel town, in Idlib province, northern Syria. (AP Photo/Idlib News Network ENN)

In this Wednesday, Oct. 17, 2012 photo, citizen journalism image provided by Edlib News Network, ENN, which has been authenticated based on its contents and other AP reporting, Syrian citizens gather to rescue people from under the rubble of a building that was destroyed from a Syrian force airstrike, at Kfar Nebel town, in Idlib province, northern Syria. (AP Photo/Idlib News Network ENN)

In this citizen journalism image provided by Lens Young Homsi, which has been authenticated based on its contents and other AP reporting, a general view of destroyed houses which was damaged by Syrian government forces shelling, at Baba Amr neighborhood, in Homs province, Syria, Thursday Oct. 18, 2012. Syrian activists say a string of government airstrikes on rebel areas in the country's north has killed at least 20 people, leveled buildings and forced residents to dig through mounds of rubble in search of survivors. (AP Photo/Lens Yong Homsi)

In this citizen journalism image provided by Lens Young Homsi, which has been authenticated based on its contents and other AP reporting, a destroyed house from Syrian government forces shelling, at Jouret al-Shiyah, in Homs province, Syria, Thursday Oct. 18, 2012. Syrian activists say a string of government airstrikes on rebel areas in the country's north has killed at least 20 people, leveled buildings and forced residents to dig through mounds of rubble in search of survivors. (AP Photo/Lens Yong Homsi)

In this Wednesday, Oct. 17, 2012 photo. citizen journalism image provided by Edlib News Network, ENN, which has been authenticated based on its contents and other AP reporting, Syrian citizens search under rubble to rescue people from a building that was destroyed from a Syrian forces airstrike, at Kfar Nebel town, in Idlib province, northern Syria. (AP Photo/Idlib News Network ENN)

In this Wednesday, Oct. 17, 2012 photo, citizen journalism image provided by Edlib News Network, ENN, which has been authenticated based on its contents and other AP reporting, the dead body of Syrian woman lies on the back of a pickup truck after she was removed from under the rubble of a building that was destroyed from a Syrian force airstrike, at Kfar Nebel town, in Idlib province, northern Syria. (AP Photo/Idlib News Network ENN)

(AP) ? Government airstrikes on rebel areas in northern Syria killed at least 43 people and leveled buildings, forcing residents to search mounds of rubble for bodies trapped underneath, anti-regime activists said Thursday.

The strikes late Wednesday and early Thursday hit at least five towns in Idlib and Aleppo provinces.

One video purportedly filmed after an airstrike Thursday on the Idlib city of Maarent al-Numan shows a man holding up two child-sized legs not connected to a body. Another man walks by carrying an arm.

Yet another video shows 18 white cloth bundles holding the remains of those killed.

Other videos from the city of Aleppo show the aftermath of an airstrike on a mosque late Wednesday. While some men carry away bodies, others work to dig out a survivor whose legs are buried in debris.

Activist claims and videos cannot be independently verified due to restrictions on reporting in Syria. But all videos corresponded to activist reports and appeared to have been filmed where they said they were.

The footage provides a window into the carnage wrought by the Syrian military's increasing reliance on airstrikes to fight rebels waging a harsh civil war to topple President Bashar Assad.

Rights groups say the airstrikes often hit civilian areas. And this week, Human Rights Watch accused Syria of using cluster munitions, which the New York-based group says endanger civilians.

The regime contends that it is fighting terrorists backed by foreign powers who seek to destroy Syria. It also denied using cluster munitions.

An Aleppo-based activist who gave his name as Abu Raed said men were arriving for Wednesday evening prayers when a fighter jet dropped a bomb on the Light of the Martyrs Mosque in the Shaar neighborhood.

The blast destroyed a room used for ritual washing and part of the prayer hall itself, he said via Skype.

He said at least 10 people had been killed, though the number could be higher, either because bodies were still trapped in the rubble or because people were buried before being recorded.

"There were people who took the dead and wounded away before the cameras showed up," he said.

Videos that activists said were shot soon after the attack show a block-wide expanse of rubble surrounded by buildings whose facades had been blown off. Men scour the rubble, occasionally finding bodies and carrying them off.

Rebels and regime forces have been clashing for months in Aleppo, Syria's largest city.

Regime aircraft also pounded Maaret al-Numan and surrounding areas on both days. The area has seen heavy fighting since rebels seized the city last week.

One strike hit a neighborhood near the rebel field hospital on Thursday in Maaret al-Numan, Yassin said via Skype.

He said it was too early to know how many people had been killed. A video posted online later showed 18 white cloth bundles activist said contained the remains of those killed.

Airstrikes also hit three nearby villages on Wednesday, killing 15 people, said activist Fadi Yassin. Nine of those were in Kafar Nubul, while others died in the villages of Kafrouma and Hass.

Rebel brigades from the surrounding area have poured in to defend the town, which stands along the main highway linking Aleppo to other large Syrian cities further south.

Online videos have shown them firing mortars at regime troops, and they claimed to have shot down a government helicopter on Wednesday.

As a sign of how little months of international diplomacy has done to stop the bloodshed in Syria, a number of nations and the U.N. envoy to the Syria conflict are pushing for a temporary cease-fire during a Muslim holiday later this month.

Joint U.N.-Arab League envoy Lakhdar Brahimi has called on the Syrian government to take the first step in observing a truce during the four-day Eid al-Adha holiday that begins on Oct. 26.

In Amman, Jordan, on Thursday, he said the temporary truce could be a first step in helping Syrians "to resolve their problems and to rebuild a new Syria as aspired for by its people."

The Syrian government said it wants a cease-fire but the rebels lack a unified leadership that can agree to it.

Both sides have flouted previous cease-fires after verbally agreeing to them.

On Thursday, Iranian President Mahmoud Ahmadinejad called for the truce during a visit to Kuwait.

The Iraqi government also expressed its support in a statement, calling on all sides to abandon violence "to save the region from more miseries and pains."

Activists say more than 33,000 people have been killed since the anti-Assad uprising started in March 2011.

Also Thursday, Syria's state news agency said rebels blew up two oil and gas pipelines in the northeast near the Iraqi border.

The agency, SANA, said the attack hit one oil and one gas pipeline Thursday near the city of Deir al-Zour. The pipelines ran between Deir al-Zour and the city of Palmyra in central Syria.

SANA quoted an oil ministry official saying the lines were immediately shut off, the fires were extinguished and repairs would begin soon.

Rebels have repeatedly bombed such pipelines.

___

Associated Press writers Ali Akhbar Dareini in Tehran, Iran, Jamal Halaby in Amman, Jordan, and Sameer N. Yacoub in Baghdad contributed reporting.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-10-18-Syria/id-75aded5d2c2d4d18a68846cf43beed3f

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7 Ways Your Brain Is Making You Lose Money | Credit Solutions

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Get the best Financial Tips at Credit Visionary

?Investors are ?normal,? not rational,? says Meir Statman, one of the leading thinkers in behavioral finance.

Behavioral finance aims to better understand why people make the financial decisions they do.? And it?s a booming field of study.? Top behavioral finance gurus include Yale?s Robert Shiller and GMO?s James Montier.

It?s also a crucial part of the Chartered Financial Analyst (CFA) curriculum, a course of study for financial advisors and Wall Street?s research analysts.

We compiled a list of the seven most common behavioral biases.? Read through them, and you?ll quickly realize why you make such terrible financial decisions

Your brain thinks it?s great at investing

Overconfidence may be the most obvious behavioral finance concept.? This is when you place too much confidence in your ability to predict the outcomes of your investment decisions.

Overconfident investors are often underdiversified and thus more susceptible to volatility.

Source: CFA Institute

Your brain doesn?t know how to handle new information.

Anchoring is related to overconfidence.? For example, you make your initial investment decision based on the information available to you at the time.? Later, you get news that materially affects any forecasts you initially made.? But rather than conduct new analysis, you just revise your old analysis.

Because you are anchored, your revised analysis won?t fully reflect the new information.?

Source: CFA Institute

Your brain is too focused on the past.

A company might announce a string of great quarterly earnings.? As a result, you assume the next earnings announcement will probably be great too. This error falls under a broad? behavioral finance concept called representativeness: you incorrectly think one thing means something else.

Another example of representativeness is assuming a good company is a good stock.

Source: CFA Institute

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Source: http://www.creditvisionary.com/7-ways-your-brain-is-making-you-lose-money?utm_source=rss&utm_medium=rss&utm_campaign=7-ways-your-brain-is-making-you-lose-money

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