Winners and losers after WTO talks collapse

Tue Jul 29 20:18:29 PDT 2008

July 29

(Reuters)

- Talks to rescue a world trade deal collapsed on Tuesday, officials said.

The breakdown came as the United States and India failed to find a compromise on measures intended to help poor countries protect their farmers against import surges, a diplomat said.

Following is a summary of possible specific losers and winners from the failure to move ahead on the round:

MANUFACTURERS - Manufacturers in Europe, the United States and other developed economies were frustrated that the latest WTO compromise proposals meant little new export opportunities in fast-growing developing markets.

But carmakers might be relieved no deal was done because they feared they could lose out from lower import tariffs in their home countries while India or China could shield their big markets, just as their own carmakers become bigger players.

Chemicals and textiles producers in rich countries were seen as possible winners from a deal because developing countries would find it harder to protect those markets.

Manufacturers in China and other low-cost exporters would get a boost under a WTO deal because rich country tariffs would fall in areas such as automobiles, textiles and chemicals.

But some trade specialists said higher trade flows could trigger more anti-dumping duties and action by rich countries seeking to protect their companies.

SERVICES - Telecoms operators, banks, insurance companies and other service providers were hoping for a deal on the Doha round's core elements of agriculture and industrial goods in order to wrap up a final deal also covering services.

Representatives of the services sector hailed signs that countries were willing to make long-awaited moves on services, including a willingness by the United States and the EU to give more temporary visas for IT experts and other foreign professionals and by some developing countries that they were willing to relax restrictions on foreign investors. Progress in turning those signals into concrete offers is now on hold.

AGRICULTURE - Some specific farming groups in rich countries are likely to breathe a sigh of relief that the prospects of a WTO deal have weakened.

U.S. cotton ranchers, Irish beef farmers, South Korean rice growers and French poultry producers were also vocal in their opposition to a deal which would have led to lower tariffs or subsidies that protect them against foreign competition.

But the failure of the talks was a blow for farmers in the United States and in some developing countries such as Paraguay and Uruguay. They had hoped for new markets for their products, especially in the huge markets of developing heavyweights.

BANANAS - Ecuador, Costa Rica and other Latin American countries stand to lose a new deal with the EU which would have seen the bloc's import tariffs on their bananas fall sharply. That bilateral agreement was linked to a broader WTO deal.

Rival exporters in West Africa and the Caribbean whose bananas pay no EU import tariff, plus some small producers in the French territories of Guadeloupe and Martinique and Spain's Canary Islands, were deeply opposed to the EU-Latin America banana deal struck over the weekend.

Provided by Reuters

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Winners_Losers_After_WTO_Talks.htm

Waste Metals-Tianjin Market Price(07-30)

Wed Jul 30 00:50:20 PDT 2008

Source: www.recycle366.com

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Waste_Metals_Tianjin_Market_Price.htm

Vietnam:Fashion Fair 2008 provides platform to budding designers

Wed Jul 30 01:23:59 PDT 2008

Vietnam Fashion Fair 2008 will kick off from today at the HCMC International Exhibition and Convention Center in a grand way and will continue to attract attention of fashion lovers till August 4.

Vietnam National Textile & Garment Group (Vinatex) along with Vietnam Textile & Apparel Association (Vitas) is organizing the gala event. A wide range of garments, footwear, accessories and leather products will be showcased here.

Vinatex will showcase the Autumn/Winter collection of renowned labels, that is created by upcoming designers during an elaborate dinner tomorrow. Young and energetic designers have come up with nearly 150 designs for the A/W season that will surprise the spectators.

The renowned fashionable brands that have given opportunity to budding talent to showcase their collections includes Viet Tien, Viet Thang, Toan Thinh, and Phuong Dong. The designers have made use of bright and bold colours like red, black, silver and grey for making the garments look stylish and glamorous.

High quality khaki, cotton and velvet are extensively used to craft stunning line of outfits that are sure to spell magic on fashionistas. Although, the designs are extremely sophisticated and chic they will be available in affordable range, so that more and more people can purchase them.

The designs reflect American and Italian influence yet the garments are in complete sync with the taste of Vietnamese customers.

Vinatex at present has nearly 54 outlets in almost 14 big cities and provinces that houses only local products. By 2010 the group plans to open 36 new stores. Similarly, Phuong Dong want to promote its garment line in the domestic market which has huge potential rather than focusing on manufacturing outfits for overseas clients.

Source:F2F

http://news.alibaba.com/134291_Textiles/329543/
Vietnam_Fashion_Fair_2008_Provides.htm

US Business Groups Blame India, China For WTO Talk Collapse

Tue Jul 29 22:35:23 PDT 2008

July 29, 2008 16:38 ET (20:38 GMT), WASHINGTON (AFP)--U.S. business groups blamed China and India Tuesday for the collapse of the World Trade Organization's Doha Round of talks, and called the collapse a blow to the world economy and the poor.

The WTO talks broke down in Geneva after the United States and India failed to agree on proposals to help poor farmers.

The U.S. Chamber of Commerce, which represents more than three million businesses and organizations, lamented the setback.

"The breakdown of these talks is bad news for the world's businesses, workers, farmers and most importantly the poor," Chamber of Commerce President Tom Donohue said in a statement.

Delegates to WTO talks said negotiations stumbled on proposals for measures to protect poor farmers that would impose a special tariff on certain agricultural goods in the event of an import surge or price fall.

The United States and India were sharply divided over a proposed special safeguard mechanism (SSM) for the agriculture sector.

India and some other developing wanted the SSM to kick in at a lower import surge level than had been proposed, in an effort to protect their millions of poor farmers from starvation.

Others wanted it to take effect at a higher rate so as not to hurt exporters.

"It's ironic that this blow to the Doha Round came from two of the chief beneficiaries of worldwide trade. India and China are emerging powers, but with great power comes great responsibility," Donohue said.

"They missed an opportunity to show leadership as key players in the global trading system.

"The real losers today are the world's poorest countries, whose citizens understand that expanding trade is the right path toward growth," Donohue said.

The National Association of Manufacturers (NAM) also said China and India were the culprits.

"Time and again at the Geneva meetings, China and India reiterated how they could not lower their barriers, but insisted we must lower ours," NAM president John Engler said in a statement.

Engler called the special safeguard mechanism demanded by China and India for their agricultural sectors "the final straw."

"That mechanism would have violated one of the most basic tenets of the world trading system: nations do not violate their tariff bindings by raising tariffs above the legally bound levels. Once an exception is made, no matter how small, the entire world trading system could begin to unravel."

Engler called for a "cooling-off period" before further talks are held.

Both groups underscored the need for the trade liberalization talks to continue.

-Dow Jones Newswires, 201-938-5500

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Trading Powers Reel From Collapse Of Crucial WTO Talks

Tue Jul 29 22:33:39 PDT 2008

July 29, 2008 22:28 ET (02:28 GMT), GENEVA (AFP)--The collapse of marathon negotiations for a global trade pact left world powers reeling on Wednesday after ministers quit emotional talks without a deal over deadlock between India and the United States.

"It's extremely difficult to find words to express the disappointment," said European Union Commissioner Mariann Fischer-Boel in an address as top delegates filed one by one before reporters to review the wreckage of nine days of talks.

"It is a failure with wider consequences than we have seen before," she said, her voice breaking.

Several delegates on Tuesday hoped for further moves to salvage the negotiating process in light of what had been accomplished in trade talks so far. But for the moment, momentum ground to a halt.

A breakthrough here was expected to add billions to the world economy and help alleviate poverty, analysts say.

"There is no use beating around the bush, this meeting has collapsed, members have simply not been able to bridge their differences," the World Trade Organization's Director-General Pascal Lamy said.

Ministers had struggled for more than a week to reach consensus on subsidy levels and import tariffs for a new deal under the WTO's Doha Round, which has repeatedly foundered since its launch seven years ago.

Emerging economies, like India, have sought more access to agricultural markets of developed nations for years. The U.S. and E.U. want developing nations to lower the bar on manufacturing.

"We will need to let the dust settle a bit, it's probably difficult to look too far into the future at this point," Lamy said.

"WTO members will need to have a sober look at if and how they bring the pieces back together."

U.S. Trade Representative Susan Schwab earlier said that hopes for a breakthrough had been dashed.

"The package that we were able to negotiate and agree on... is not going to carry the day," she told reporters as she left a meeting of key trading powers, referring to an earlier breakthrough on a deal proposed by Lamy.

Delegates said negotiations stumbled on proposals for so-called SSM measures to protect poor farmers that would have imposed a special tariff on certain agricultural goods in the event of an import surge or price fall.

The world's economic superpower, the United States, and India, one of the world's biggest emerging economies, were sharply divided over the SSM - the special safeguard mechanism.

"I feel very disappointed that this had to be left unresolved in the last miles," India's Commerce Minister Kamal Nath said. "It's unfortunate that in a developing round, the last miles we couldn't run" due to the SSM.

India and other developing countries wanted the mechanism to kick in at a lower import surge level than has been proposed in order to protect their millions of poor farmers from starvation.

Others wanted it to take effect at a higher rate so as not to hurt exporters.

Sources said after Tuesday's breakdown that the United States was stalling for time to avoid a rift over another sticking point, cotton subsidies.

"The U.S. cannot afford to give way on cotton, so it does not even want to go into the issue," an Asian diplomat said.

"It knows that India would not give ground on SSMs, in which case India would be blamed in case of any collapse." E.U. Trade Commissioner Peter Mandelson said it was "heartbreaking" that efforts collapsed due to one single element.

"Of all the failures they could have tripped up on... (the SSM) trade restraint measure and a small gap in numbers managing to provoke this failure is... absolutely heartbreaking," he said.

Mandelson said the collapse was a "collective failure." "We worked for success, we had failure pushed upon us," he told a news conference later. "This is a significant setback for the international trading system."

Nath had dug in his heels over the proposed tariff thresholds, claiming the backing of around 100 developing nations.

With both sides refusing to give way, acrimony had peaked on Monday with the United States publicly accusing China and India of holding up progress.

"It's a truly sad day for the developing countries that had so much to gain from the success of this round," said Fischer-Boel, who holds the agriculture portfolio at the European Commission.

Brazilian Foreign Minister Celso Amorim, a leading negotiator at the talks, said he was "very disappointed that we were not able to close the round," but insisted that game was not over yet.

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Trading_Powers_Reel_From_Collapse.htm

China manufacturing hub denies factory exodus

Tue Jul 29 23:33:05 PDT 2008

HONG KONG, July 30 (Reuters) - Dongguan, a key manufacturing centre in southern China where factories have come under severe cost pressure, has denied that firms are going belly up or leaving in droves after reports of an exodus. On average, about 6 percent of manufacturers in Dongguan closed per year, and last year and this year so far were no different, the newspaper Southern Metropolis on Wednesday quoted the city's vice mayor Jiang Ling as saying.

Taiwan's China Times reported on Tuesday that 20 percent of the 8,000 Taiwanese businesses in Dongguan left last year, including 200-300 of Taiwan's 1,000 shoe producers in the city.

Taiwan firms, along with Hong Kong companies, have underpinned the explosion in manufacturing in the Pearl River Delta in the past two decades.

Regional manufacturing associations and anecdotal evidence suggest that a larger number of firms than average have been folding or leaving the Pearl River Delta in the past year or so as the costs of fuel, raw materials, labour and land rise and China allows the value of its currency to appreciate.

But Dongguan's Jiang Ling gave different statistics.

"Dongguang has not had the large number of firms leaving that has been rumoured," he was quoted as saying.

"This year in the first half, 450 enterprises ended operations, accounting for about 3 percent, which means that over the whole year it is at a reasonable level ... the effect on Dongguan as a whole is small."

He said that last year, of the city's 15,000 processing trade firms, some 960 had closed, representing about 6 percent.

The Chinese government has been pushing Dongguan and other manufacturing hubs to shift out of low-end, labour intensive, polluting manufacturing and aim to attract higher value-added industries.

In May, another Guangdong newspaper reported that Dongguan planned to shut 173 factories deemed to be major polluters this year and would ban new investments in coal-fired power, cement, leather and paper making.

(Reporting by John Ruwitch; Editing by Ken Wills)

Provided by Reuters

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China_Manufacturing_Hub_Denies_Factory.htm

China warns impact of WTO talks collapse

Tue Jul 29 22:57:45 PDT 2008

GENEVA, July 29 (Reuters) - The "tragic failure" of global trade talks is a serious setback to the troubled world economy, Chinese Commerce Minister Chen Deming said.

"In the face of a world economic downturn, serious inflation and imminent financial risks, the failure will have a major impact on the fragile multilateral trading system," Chen told fellow ministers at the trade talks.

Chen expressed his regret that the talks had broken down over differences between two countries -- a reference to the United States and India -- over a proposal to help poor farmers cope with import surges, despite flexibility by China on a range of trade areas, according to a statement.

China had shown willingness to compromise on a proposal restricting developing countries' ability to shield entire industrial sectors from lower tariff cuts. It had indicated its willingess to liberalise some services sectors, he said.

China was ready to intensify its bilateral links with other World Trade Organisation (WTO) members, especially developing countries, he said.

China was included in a group of seven key WTO members who attempted to reach a compromise on the talks seeking a breakthrough in the WTO's Doha round, reflecting China's growing importance in the world economy.

members, especially developing countries, he said.

China was included in a group of seven key WTO members who attempted to reach a compromise on the talks seeking a breakthrough in the WTO's Doha round, reflecting China's growing importance in the world economy.

(Reporting by Jonathan Lynn; Editing by Angus MacSwan

Provided by Reuters

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China_Warns_Impact_WTO_Talks.htm

Asia aluminium premiums fall by quarter

Wed Jul 30 03:18:10 PDT 2008

By Polly Yam and Chikafumi Hodo

HONG KONG/TOKYO, July 30

(Reuters)

- Premiums of spot primary aluminium have fallen by nearly a quarter this month because of weak demand from major buyers in Asia and increased supply from China, traders said on Wednesday.

Vietnamese buyers have cancelled term shipments of up to 2,000 tonnes of good Western metal per month for the third quarter, adding extra supplies to the spot market, one trader said.

Spot good Western primary aluminium was being offered at premiums of $60-$75 a tonne over cash prices on the London Metal Exchange contract , in Asia versus $90-$100 in June, traders said. Asian buyers have paid premiums of about $87 for term shipments in July-September.

"Nobody wants to buy, what are you going to do? Cutting $20 is nothing compared to keeping the stocks," a senior trader at an international trading house said from South Korea.

The trader said some 50,000 tonnes of aluminium ingots and T-bars were sitting in bonded warehouses in South Korea, with plans for them to go into the LME warehouses there.

"There is plenty of availability, with large quantities being held as a result of weak demand from users in Southeast Asia," a trader in Japan said.

Traders said increased exports of aluminium alloy ingots from China had been substituted for part of the demand for primary aluminium in Asia since buyers preferred the cheaper Chinese alloy.

"Premiums of primary metal would stay very weak until China's alloy exports fall," the trader in South Korea said. He estimated up to 120,000 tonnes of aluminium alloy and primary aluminium tubes and plates were stored in warehouses in South Korea.

China, the world's top producer and consumer of the metal, which is used in auto, packing and building sectors, exported 431 percent more duty-free aluminium alloy in June, mostly replacing the outflow of primary metal that is subject to a 15 percent tax.

Chinese smelters also increased exports in order to cash in on strong international prices, amid weaker domestic demand.

The LME prices have risen 23 percent so far this year to $2,960 a tonne on Wednesday. But prices of the corresponding contract in Shanghai <0#saf:>, currently October , have risen only 5 percent.

Chinese aluminium alloy ingots, which are made of primary metal and other metals such as magnesium, silicon and manganese, were offered in South Korea and Japan at discounts of $10-$40 a tonne versus premiums of $40 in the second quarter, traders said.

WEAK DEMAND

Falling premiums for primary metal and aluminium alloy are scaring off buyers in Asia on fears that regional demand is deteriorating.

"The bearish mood is intensifying and premiums appear to be dropping at a faster pace," a trader at a Japanese trading house, said.

A trader at a Japanese fabricating plant said the firm had received more offers with lower premiums, but it had not bought more metal.

"We are pushing hard to sell, but this is a dead market at the moment," a manager at another international trading house said.

In Japan, Asia's top net importer of the metal, traders expect premiums to fall further because auto makers have slashed their production outlook on weaker demand and slower global economic growth.

"High crude prices have pushed up gasoline prices not only in Japan, but worldwide. This is expected to limit usage of cars," Hiroshi Yao, president of Mitsubishi Aluminum and chairman of the Japan Aluminium Association, said.

Fabricating plants in China's Guangdong province, the manufacturing base of aluminium products in the country, have reduced demand for primary metal due to reduced product exports and weaker performance in the domestic building sector.

"July-August traditionally is the low season. But this year, the demand is weaker than previous years," a manager at a fabricating plant in Nanhai city said.

The plants have also received reduced power supplies since June, cutting their production and demand for the metal, and that has forced smelters to export more.

Provided by Reuters

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Asia_Aluminium_Premiums_Fall_Quarter.htm

Nintendo Q1 profit up 31.5 pct

Wed Jul 30 03:02:07 PDT 2008

TOKYO, July 30 (Reuters) - Nintendo Co Ltd's quarterly profit rose 31.5 percent on the runaway success of its Wii game console, but the Japanese video game maker kept its annual outlook that falls well short of market expectations.

April-June operating profit at Nintendo, which is waging a three-way battle with Microsoft Corp and Sony Corp in the global video game industry, rose to 119.2 billion yen ($1.10 billion) from 90.63 billion yen a year earlier.

Nintendo's Wii, competing with Sony's PlayStation 3 and Microsoft's Xbox 360, has enjoyed brisk demand thanks to its easy-to-learn motion-sensing controller, low price and innovative titles such as the "Wii Fit" exercise game.

For the full year to March, Nintendo kept its operating profit forecast of 530 billion yen, up 8.8 percent on the year, but below a consensus of 597.1 billion yen in a poll of 20 analysts by Reuters Estimates.

Shares in Nintendo, creator of iconic game characters such as Mario and Zelda, have fallen 16.9 percent this year through Tuesday, underperforming the benchmark Nikkei average which is down 14 percent.

(Reporting by Kiyoshi Takenaka, editing by Ian Geoghegan)

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Nintendo_Q1_Profit_Up_31.htm

Bush pushes Congress to expand offshore drilling

Tue Jul 29 23:09:05 PDT 2008

By Tom Doggett

Euclid, OHIO, July 29 (Reuters) - President George W. Bush on Tuesday again called on Congress to pass legislation that would give energy companies access to billions of barrels of oil in U.S. waters where energy exploration is now banned.

Speaking to workers at a welding plant in Euclid, Ohio, Bush said gasoline prices are high because global oil supplies are not able to keep up with growing demand in countries like India and China, whose economies are strong and whose citizens are buying more cars.

To help bring down fuel prices, Bush said the United States needed to develop more of its oil resources, particularly those located offshore, which Bush said held enough supply to meet current U.S. oil demand for 10 years.

"It seems like we ought to be figuring out how to find more oil here in the United States," Bush said.

Senate Republicans are pushing to modify a pending Democratic-backed energy speculation bill so it would also expand offshore oil drilling and allow the development of huge oil shale reserves in the West.

Bush earlier this month lifted a presidential order that had banned drilling in most U.S. waters and he demanded that Congress end its own drilling moratorium before lawmakers adjourn for their month-long recess in August.

"Now it's up to the United States Congress to make a decision as to whether or not you're going to continue to face high gasoline prices at the pump or whether or not the United States ought to send a clear signal to the world: We're tired of being dependent on oil from overseas, let's find it right here in the United States of America," Bush said.

Democrats say oil companies should first drill on the millions of acres the firms have already leased from the government.

While the average price for U.S. gasoline is still $1 a gallon higher than a year ago, this week the national price fell below $4 a gallon for the first time in eight weeks, according to the Energy Department.

Gasoline prices are dropping because of the $25 a barrel decline this month in crude oil, which accounts for about 75 percent of the cost for making gasoline.

Pump prices are expected to keep falling in the coming weeks as the savings for refiners from cheaper crude is passed on to drivers.

(Reporting by Tom Doggett; editing by Carol Bishopric)

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Bush_Pushes_Congress_Expand_Offshore.htm

Russian subs reach bottom of world's deepest lake

Tue Jul 29 22:45:54 PDT 2008

MOSCOW - Two small, manned submarines touched the bottom of Lake Baikal on Tuesday, setting a world record for the deepest freshwater dive, Russian news reports said.

The "Mir-1" and "Mir-2" submersibles descended 1.05 miles (1,680 meters) to the bottom of the vast Siberian lake, the world's deepest, reports said. The descent set a world record, the Interfax news agency cited the organizers as saying.

The dives in Baikal, which is home to more than 1,700 species of plants and animals, were part of a scientific expedition, reports said.

Scientists plan to take samples of water and soil, and will plant a small pyramid bearing the Russian flag in the lake bed, the reports said.

Mission chief Anatoly Sagalevich said earlier that the mission will make a total of 60 dives. Organizers then will compile a list of recommendations aimed at preserving Lake Baikal, a UNESCO World Heritage site.

The "Mir-1" and "Mir-2" are well known for their descent below the North Pole last August, when Russian participants planted their country's flag in a titanium capsule on the Arctic Ocean floor to symbolically claim the seabed.

http://news.alibaba.com/134302_Europe/329404/

Russian_Subs_Reach_Bottom_World.htm

Source: AP

WTO talks fail amid U.S.-India standoff - diplomat

Tue Jul 29 22:44:43 PDT 2008

GENEVA (Reuters) - Talks to rescue a world trade deal collapsed on Tuesday, officials said.

The breakdown came as the United States and India failed to find a compromise on measures intended to help poor countries protect their farmers against import surges, a diplomat said.

Source: Reuters

http://news.alibaba.com/134299_India/329394/WTO_Talks_Fail_Amid_U.htm

Pakistanis urge tougher IAEA stance on India deal

Tue Jul 29 22:44:34 PDT 2008

VIENNA (Reuters) - Senior Pakistani figures have accused the Islamabad government of buckling to U.S. pressure not to hold up a nuclear trade deal between Washington and Pakistan's arch-rival India.

The deal would give India access to the world market in nuclear fuel and technology for first time after a decades-long ban due to India having tested atom bombs and staying out of the international Non-Proliferation Treaty (NPT).

Pakistanis are unhappy because of their history of three wars and enduring tensions with neighbouring India. Pakistan feels it should get a similar deal from the United States.

The International Atomic Energy Agency board of governors will meet on Friday to consider an IAEA inspections plan covering 14 of India's 22 existing or planned nuclear reactors, a precondition for activating the U.S.-Indian deal.

In an open letter circulated by U.S. disarmament advocates, 30 Pakistanis including four former foreign secretaries and one ex-foreign minister voiced "shock" at reports Islamabad had dropped objections to an IAEA board role in the deal.

They said the 35-nation board's imprimatur would help "disrupt the strategic balance in South Asia, oblige Pakistan to take steps to maintain credible deterrence and lead to a nuclear arms race between powers of South Asia".

The U.S.-India pact is controversial as New Delhi is not part of the Non-Proliferation Treaty and does not rule out conducting more nuclear tests.

If the IAEA governors approve the inspections draft, India must then win an exemption from the 45-nation Nuclear Suppliers Group allowing trade with a treaty outsider.

PAKISTAN BACKS DOWN

The Pakistanis' letter echoed objections in a July 18 memo sent to agency governors by Pakistan's IAEA envoy, who called the drive to implement the pact "discriminatory and dangerous".

"It is important to resist the drive to steamroll this agreement through the IAEA board and NSG," Ambassador Shabhaz wrote. He said Pakistan would seek amendments to parts of the plan seen as vague by some board members.

But a senior Western diplomat told Reuters on Tuesday the Pakistanis had since agreed in high-level talks with U.S. officials not to demand amendments or a vote or "anything else that would stand in the way of this agreement".

Islamabad was told that subjecting most Indian nuclear sites to IAEA checks was in its interest and reminded that its last two governments had pledged not to obstruct the U.S.-India deal.

Pakistan is one of the biggest recipients of U.S. aid and a key ally in the United States' war on terror.

Pakistan has also never joined the NPT and, in U.S. eyes, cannot be treated like India because it lacks a long track record of democracy and nuclear non-proliferation.

Pakistan's A.Q. Khan ring smuggled bomb-suitable nuclear technology to unstable regions before it was smashed in 2004.

Still, the 30 Pakistanis' letter complained about differing U.S. standards applied to the two countries.

"Continued denial of civilian nuclear technology for the generation of power will hamper Pakistan's economic development," it said, saying civil nuclear cooperation must become a priority in Islamabad's relations with Washington.

http://news.alibaba.com/134299_India/329393/Pakistanis_Urge_Tougher_IAEA_Stance.htm

US billion-dollar bankruptcies highest since 2003

Tue Jul 29 22:54:48 PDT 2008

By Emily Chasan

NEW YORK, July 29 (Reuters) - Billion-dollar bankruptcies are at their highest in five years only half way through 2008, according to bankruptcy filing tracker BankruptcyData.com.

A total of seven U.S. companies with more than a billion dollars in assets have filed for bankruptcy protection so far this year, it said.

Fremont General Corp, which was one of the largest U.S. providers of subprime mortgages before regulators ordered it to stop making the loans, was the largest filing of the year with $13 billion in pre-petition assets, BankruptcyData.com said. Fremont filed for Chapter 11 bankruptcy protection in May, after arranging to sell bank branches and deposits to CapitalSource Inc.

SemGroup LP, the energy trader which filed for bankruptcy protection from creditors last week, was the second-largest bankruptcy filing of the year with $6 billion in pre-petition assets.

"We seem to be in the midst of a 'perfect storm' leading to more bankruptcies: high levels of debt, high energy and raw materials costs and weakness in the U.S. economy," George Putnam, III of New Generation Research, which publishes BankruptcyData.com said in a statement.

He forecast bankruptcies could peak as early as the middle of 2009 or continue rising well into 2010.

The recent spike in billion-dollar bankruptcies, comes only about half way through 2008 and is well above the previous levels. In 2007 only one company listed more than $1 billion in pre-petition assets, New Century Financial Corp. In 2006, auto parts maker Dana Corp had the largest filing, listing $9 billion in pre-petition assets.

The last year in the previous bankruptcy wave was 2003, when there were 15 billion-dollar bankruptcies filed. The number of billion-dollar bankruptcies peaked in 2001 when there were 25, according to BankruptcyData.com.

But the bankruptcies are not yet as large as the filings in the last wave of corporate bankruptcies. The Enron Corp and Conseco Inc bankruptcy filings in 2001 and 2002 each topped $60 billion. WorldCom still holds the record with its $103.9 billion bankruptcy filing in 2002, according to BankruptcyData.com.

(Editing by Andre Grenon)

http://news.alibaba.com/134301_Americas/329448/

US_Billion_Dollar_Bankruptcies_Highest.htm

US billion-dollar bankruptcies highest since 2003

Tue Jul 29 22:54:46 PDT 2008

By Emily Chasan

NEW YORK, July 29 (Reuters) - Billion-dollar bankruptcies are at their highest in five years only half way through 2008, according to bankruptcy filing tracker BankruptcyData.com.

A total of seven U.S. companies with more than a billion dollars in assets have filed for bankruptcy protection so far this year, it said.

Fremont General Corp, which was one of the largest U.S. providers of subprime mortgages before regulators ordered it to stop making the loans, was the largest filing of the year with $13 billion in pre-petition assets, BankruptcyData.com said. Fremont filed for Chapter 11 bankruptcy protection in May, after arranging to sell bank branches and deposits to CapitalSource Inc.

SemGroup LP, the energy trader which filed for bankruptcy protection from creditors last week, was the second-largest bankruptcy filing of the year with $6 billion in pre-petition assets.

"We seem to be in the midst of a 'perfect storm' leading to more bankruptcies: high levels of debt, high energy and raw materials costs and weakness in the U.S. economy," George Putnam, III of New Generation Research, which publishes BankruptcyData.com said in a statement.

He forecast bankruptcies could peak as early as the middle of 2009 or continue rising well into 2010.

The recent spike in billion-dollar bankruptcies, comes only about half way through 2008 and is well above the previous levels. In 2007 only one company listed more than $1 billion in pre-petition assets, New Century Financial Corp. In 2006, auto parts maker Dana Corp had the largest filing, listing $9 billion in pre-petition assets.

The last year in the previous bankruptcy wave was 2003, when there were 15 billion-dollar bankruptcies filed. The number of billion-dollar bankruptcies peaked in 2001 when there were 25, according to BankruptcyData.com.

But the bankruptcies are not yet as large as the filings in the last wave of corporate bankruptcies. The Enron Corp and Conseco Inc bankruptcy filings in 2001 and 2002 each topped $60 billion. WorldCom still holds the record with its $103.9 billion bankruptcy filing in 2002, according to BankruptcyData.com.

(Editing by Andre Grenon)

http://news.alibaba.com/134301_Americas/329447/
US_Billion_Dollar_Bankruptcies_Highest.htm

Australian wheat farmers demand govt safety net

Wed Jul 30 03:01:11 PDT 2008

SYDNEY, July 30 (Reuters) - Australian wheat farmers called on the government on Wednesday to set up a safety net to protect them from financial risks associated with the abolition of a 70-year-old wheat export monopoly operated by AWB Ltd .

The New South Wales Farmers Association, a major farm lobby, resolved at its annual conference to ask the federal government to legislate to ensure growers are deemed secured creditors when they sell to commercial traders, protecting growers from default.

"Our industry was deregulated without our approval," association executive councillor Jock Munro said in support of the resolution. "This new wheat system will be a disaster. There's no equity in this for growers," he told the meeting.

Effective July 1, the government stripped AWB of its export monopoly, opening the export trade to all-comers who pass a probity test. This followed revelations that AWB paid kickbacks to the Iraqi regime of Saddam Hussein to secure sales.

The association's resolution also called on the government to register grain merchants to ensure they had sufficient funds to support trading activities. It also wants a quality assurance scheme in any new wheat-marketing legislation.

The meeting narrowly defeated a motion calling on AWB to remain grower controlled. AWB is urging shareholders to scrap a dual-class share structure, which gives growers voting control.

(Reporting by Michael Byrnes, editing by Mark Bendeich)

http://news.alibaba.com/139289_Oceania/329575/

Australian_Wheat_Farmers_Demand_Govt.htm

Brave Aussie firms can still raise capital, at a price

Tue Jul 29 23:33:50 PDT 2008

(For more Reuters Dealtalks, click [DEALTALK/]

By Denny Thomas

SYDNEY, July 30 (Reuters) - Australian mining services companies should find it relatively easy to raise equity capital to fund acquisitions despite turbulent stock markets and less-than enthusiastic support for Orica Ltd's recent A$900 million ($865 million) rights offer.

But even firms linked to the booming mining sector may need to offer sweeter terms to win investors' backing, and highly geared property trusts and toll road operators will likely need the support of cornerstone investors to meet their capital needs as worries about the global credit crisis persist.

"If you like the story you are inclined to participate," said Ross Barker, managing director of Australian Investment Co, which oversees about A$5.1 billion.

"Just because market is volatile, doesn't mean you are not looking at good opportunities," Barker said, adding that mining services companies would find it easier to convince investors as they have performed better relative to the rest of the stock market.

Still, bankers say selling shares now is not for the faint hearted, adding that companies will likely need to come up with better terms or more innovative offers to lure investors, which will cost them more to raise the capital in the long run.

Three Australian banks - Westpac Banking Corp , Suncorp Metway Ltd and Macquarie Group Ltd -- have together raised A$2.3 billion by issuing securities that offer regular distributions and carry an option of converting into shares.

Speculation is rife that fertiliser maker Incitec Pivot Ltd , contractor Leighton Holdings Ltd and ports operator Asciano Group are looking to raise money to fund acquisitions or to pay down debt.

Though all are in sectors with strong growth prospects, the mere talk of fund raising has pulled down their shares, underscoring market nervousness about new capital raisings.

"Not many investors are willing to put new money into companies unless they have a very good story, a very good management team and almost a risk-free plan for using the money. And there aren't many of those around," one banker at an independent corporate advisory firm, said. He declined to be named as he was not authorised to speak to media.

With the benchmark S&P/ASX 200 index <.AXJO> down about 22 percent this year, the cost of raising equity has already risen, but firms with clear goals, such as financing for known acquisitions, will find it easier to raise money.

"If you had a choice you would not be raising equity today unless you had a very good reason for doing so," said Wayne Kent, executive director of Macquarie Capital Advisers, a Macquarie Group unit.

Earlier this year, conglomerate Wesfarmers Ltd and Primary Health Care Ltd together raised nearly A$4 billion, braving the downturn in equity markets. But both moves were related to previously announced acquisitions.

But Orica, the world's top explosives maker, found only 70 percent of the shares available under its offer were taken up, despite its exposure to the booming mining sector. Credit Suisse described its capital raising as rushed and opportunistic.

"You can argue there was no defined plan for the raising," said Matt Williams, a fund manager with Perpetual Ltd, Orica top institutional shareholder.

"It was a very broad guidance...," he said. Orica shares fell 13 percent as trading resumed after the institutional offer.

For bruised property companies, raising funds is crucial for survival, but with fallout from the U.S. subprime mortgage crisis still mounting, investors are likely to give them a wide berth.

Fund managers say the only way property companies may be able to win back investors is if they find a strategic or cornerstone investor, such as a highly respected regional or global firm, to anchor the transaction and boost confidence in a new share issue.

Property investor Australand Property Group launched a rights issue of up to A$557 million earlier this week, which follows a capital infusion into toll road operator Transurban Group Ltd . In both cases, the funds were injected by strategic investors as opposed to institutional investors.

"Three types of capital will be raised this time around. One is M&A funding, which would be well received," said one equity capital market banker at a foreign bank.

"Then there will be rescue refinancing, and third will be companies who do small opportunistic raisings, and I think people will not be very happy with them," he added. The banker declined to be named as he was not authorised to speak to media.

Major equity capital raisings by Australian companies in 2008

COMPANY AMOUNT Primary Health Care Ltd A$1.2 billion Wesfarmers Ltd A$2.5 billion *Orica Ltd A$900 million Transurban Group Ltd A$1 billion (* Offer still in progress) ($1=A$1.05) (Editing by Kim Coghill) (

(denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net))

http://news.alibaba.com/139289_Oceania/329480/

Brave_Aussie_Firms_Can_Still.htm

UAE:Signature pieces from Moon & Loto highlight unique craftsmanship in gold

Published by Admin of www.alibaba.com
Wed Jul 30 01:18:59 PDT 2008

Damas showcases the latest collections of Laurentia– Moon and Loto. The Italian jewellery brand widely recognised for its design explorations using the yellow metal ushers in superbly crafted necklaces, bracelets and rings in 18kt gold accentuated by sparkling diamonds and semi-precious stones.

Established over 20 years ago in Vicenza, Italy, Laurentia has been at the forefront of experimentation with traditional and modern production techniques to bring gold designs to life. Its collections convey statements that are highly contemporary yet transcend the fleeting appeal of trends.

Tawhid Abdullah, Managing Director of Damas, commented: ''Laurentia proposes unique jewels that attempt to capture the spirit of the times. Its creations are intended for those who see jewellery as an expression and extension of one's personality and challenge traditional role of jewels as mere accessory. Damas is pleased to bring this outstanding name in jewellery to women in the region.''

Laurentia uses the technique of stamping gold metal sheet to obtain unique articles that are normally difficult to create. Resulting from this unique process are patented collections that are marked by unusually colourful knots, locks, joints and couplings. Top quality semi-precious stones are used to emphasise the designs and add extra value to every Laurentia creation.

In Moon, shimmering gold elements inspired by the lunar form and embellished with subtle decorations are arranged to form Laurentia's latest interpretation of the classic chain. Inspired by the Sixties, it comes in two versions, both of which are accentuated with regular cut, faced and oversized natural stones. The settings are highly original with decorative ''griffe'' and resonate the brand's signature 'micro-sculptures'.

Loto, on the other hand, is a collection that evokes nature. It features the organic form of lotus flower buds smoothened by the action of water and wind. The decorative elements, realised with the technique of gold foil molding, attain the status of micro-sculptures, which, according to their assemblage, modify volume perception with surprising results.

The new collections are set apart by their original color and tone as well as perfectly executed concepts – outcomes of unique collaboration between international designers and Laurentia's highly skilled craftsmen.

The close attention to detail embodied in each Laurentia masterpiece finds new expression in both Moon and Loto. By combining signature designs and superb craftsmanship, the two collections offer new possibilities for personal adornment and promise to liven up even the most basic fashion ensemble.

Laurentia's Moon and Loto collections are now available in select Damas shops across the UAE.

http://news.alibaba.com/134291_Textiles/329540/

UAE_Signature_Pieces_From_Moon.htm

Mining company Rio Tinto to expand Brazil mine

Published by Admin of www.alibaba.com
Wed Jul 30 01:29:19 PDT 2008

SYDNEY, Australia - Rio Tinto PLC, the world's second-largest iron ore producer, said it will spend $2.15 billion on a major expansion of its iron ore mine in Corumba, Brazil, to help meet increasing demand in South America and the Middle East.

The London-based company wants to boost production of iron ore, a key ingredient in steel production, at Corumba more than sixfold, from 2.2 million tons (2 million metric tons) to 14.1 million tons (12.8 million metric tons).

A study will also be conducted into whether the company can expand capacity to 25.6 million tons (23.2 million metric tons) a year, Rio Tinto said in a statement Tuesday.

Output from Corumba is expected to begin in the fourth quarter of 2010 and the study is to be completed by mid-2009.

Rio Tinto Chief Executive Tom Albanese said the Corumba investment is a major step forward in the company's goal of extending its iron ore operations beyond the Pilbara region in Western Australia state.

The company outlined plans last year to more than triple its output of iron ore to 661 million tons (600 million metric tons) to repel a takeover proposal by rival mining giant BHP Billiton (nyse: BBL - news - people ) Ltd.

BHP Billiton Chairman Don Argus said in a letter released to the Australian stock exchange Wednesday that the company expects international regulators to complete their review of its $147 billion bid for Rio Tinto by the end of 2008.

http://news.alibaba.com/134292_Energy/329545/
Mining_Company_Rio_Tinto_Expand.htm

LDPE-YuYao China Plastics City Price(07-30)

Published by Admin of www.alibaba.com

Wed Jul 30 02:04:17 PDT 2008

http://news.alibaba.com/134289_Chemicals/329560/
LDPE_YuYao_China_Plastics_City.htm

Waste Zinc-China Market Price(07-30)

Published by Admin of www.alibaba.com
Wed Jul 30 00:48:25 PDT 2008

Waste Iron-China Market Price(07-30)

Published by Admin of www.alibaba.com

Wed Jul 30 00:47:28 PDT 2008

ALL BUSINESS DISCUSSION

• When Your Boss Is Out of Control
• How Good Leaders Correct Mistakes
• A Methodology for Leading Into the Unknown
• Would You Let Brett Favre Play for Your Team?
• How Are You Coping with Fear?
• The Challenge of Developing Leaders in Afghanistan...

When Your Boss Is Out of Control

Posted by John Baldoni on July 28, 2008 10:22 AM

Bosses who push their people hard often provide what is to them a good excuse: no one works harder than they do. That’s what Anthony Weiner, congressman from New York City and a future candidate for mayor, told the New York Times. Because the boss works 24/7, everyone else must do the same. Well, not quite. Bosses have privileges that employees do not enjoy – higher salaries, more perks, and, if you’re a congressman, more publicity. Everyone slaves so the boss shines.

Demanding bosses often view themselves as fair. After all, Weiner says, “When you grow up in Brooklyn… sometimes arguing is the sport.” It may be so in the borough but it is not so in the office. Acting as if the world – i.e., your employees – owe you allegiance because you are their boss is not management; it’s tyranny. So how can you deal with such a boss? In a word, carefully. Make that two words. Very carefully. Here are some suggestions.

Toe the line. You signed on; do the work. You will soon anticipate the bosses demands and be able to satisfy them before he asks. Will you get blindsided? Of course. Expect it. Demanding bosses care little about their employees’ feelings; they seek only credit for themselves. Most importantly, never take anything the boss says personally. Even if he says personal things about you; ignore him. Bosses such as that have the emotional maturity of adolescents. Don’t get onto the playground with them.

Act the part. Pay allegiance to the boss. Play up to his needs; make him feel secure and wanted. In fact, most hard chargers are very insecure; that’s why they work so hard. They are afraid if they ease up for one moment, they will lose their place in the long, long climb to the top. So do what they ask.

Find the exit. Working for a successful boss can be a career booster. In fact Weiner has a track record of helping ex-employees get good jobs. So start looking and when you find something better act quickly. Don’t look back because one thing is for certain. The situation with the demanding boss will not improve.

Weiner flushes through staff like water through a broken pipe. According to the Times, he leads the New York delegation in staff turnover and has had three chiefs of staff in the past 18 months. A staffer from another congressman’s office commented, “You never know who’s there because they aren’t there long enough to remember their names.” That is costly to the taxpayers not to mention the psyches of his burned out staffers.

As a politician, Weiner may say that he’s working on behalf of his New York constituents. As an employer, he serves as poster boy for micromanagement gone awry. His style may work in the legislature, but as my colleague, Scott Eblin pointed out in his blog, unless Weiner changes his style he will have little chance (if elected) of being an effective mayor.

To give comment visit this website:

http://discussionleader.hbsp.com/baldoni/2008/07/
when_your_boss_is_out_of_control.html

How Good Leaders Correct Mistakes

Posted by John Baldoni on July 24, 2008 11:27 AM

Carlos Gomez, the rookie centerfielder for the Minnesota Twins, scooped up the ball and threw so hard to second base that the throw ended up being fielded in the dugout by Ron Gardenhire, his manager. So what did Gardenhire do when the rookie returned to the dugout? He asked him to autograph the ball. Gomez “is a kid who plays with a lot of emotion,” Gardenhire told the New York Times, “If I kick him there, I might lose him for the rest of the game." Gomez appreciated his manager's gesture, but "knew what he did wrong, and it didn’t affect him the rest of the game." Indeed not. Gomez later homered.

Pick your moments! That's what good coaches do when they want to correct a player’s mistake. It is also good advice for anyone in a leadership position. Flying off at the handle when someone makes a mistake might be theatrical but it's not really practical. It may make the manager feel good to vent, but the effect on the employee may be counter-productive. So the next time your employee makes a mistake, consider three things:

Why did the mistake occur? New employees often make mistakes because they don't know better; veterans make mistakes because they're not paying attention. Neither is acceptable. Managers need to make certain their employees know their jobs and keep work relevant for others so that they maintain focus.

How can the employee correct the mistake? If the employee knows he's made a mistake, just let it sink in. If the manager shows he's upset, the opportunity to teach is lost. If the employee doesn't know he's made a mistake, then let him know sooner than later. Have discussions with the employee about what went wrong and how he will correct things the next time.

How can you turn this mistake into a learning lesson? Sweeping the mistake under the rug increases the likelihood it will happen again; shining light on the problem may illuminate new solutions. One mistake can open the door to dialogue. Invite the employee to discuss her needs for more development. Perhaps she can design an improvement plan. Also, the manager may need to become more involved in the employee’s development, either personally or by assigning another employee to help.

Let’s be realistic. When things go wrong, the manager is responsible regardless of why the mistake happened. So when the mistake occurs, it's understandable he might be upset. Showing emotion is acceptable. In fact it can be used to make a point. Employees need to know that mistakes can be tolerated but must be fixed; failure to acknowledge them will lead to mediocrity.

Waiting for the heat of the moment to pass allows for reflection, giving the employee time to consider what he's done and how he can make it better. The manager demonstrates trust and that trust gives the employee the confidence to know he can succeed next time.

To give comment visit this website: http://discussionleader.hbsp.com/baldoni/2008/07/
what_the_minnesota_twins_can_teach_us_about_correcting_mistakes.html

A Methodology for Leading Into the Unknown

Posted by John Baldoni on July 21, 2008 9:12 AM

One of the toughest things to teach leaders is how to lead when the context and variables are constantly changing. One man who is helping leaders make better decisions is Don Vandergriff, a retired Army major, lecturer and author. Vandergriff has developed the Adaptive Leader Methodology (ALM) that helps individuals learn to lead in situations of escalating complexity.

The principles of ALM are universal and applicable to anyone who must manage and lead others. As Vandergriff explained to me, ALM immerses students in “complex scenario, and facilitate(s) them as they attempt to solve it.” As Vandergriff sees it, ALM “places people in roles of responsibility so they understand the context their unit or organization operates in… In ALM, they are placed two or three levels higher [than their ranks] in many of the scenarios.”

ALM is uniquely suited to teach military officers how to lead in “asymmetrical warfare,” where the unknown variables outweigh the known ones. “Instead of repeating a given scenario, you continue on and do a different one, with different conditions.” As Vandergriff explains, “By varying the scenarios, the conditions, and then… giving a good "reflection" session from peers, the teacher, and [observers], the learning process becomes continuous.”

This is break from the Army’s traditional approach to education which emphasizes competency. A shortcoming of that model is boredom and barriers. Says Vandergriff, “Good and great students got bored very easy. Plus, they did not discover their unit's place in the larger picture because they were only allowed to go as high as that unit in their learning environments.”

A twenty-four year veteran of the Army and Marines, Vandergriff taught ROTC at Georgetown University and routinely received top marks for his instruction. Today his students are lieutenants and captains in the field leading combat troops. Lessons they learned from ALM are “what prepared them (the most) for what they face now.” Specifically, ALM provides a tool kit approach that fosters innovative thinking, new approaches to problem-solving and rapid decision-making, Vangergriff’s influence extends beyond the Army; he has taught Marines, Navy SEALs as well as units in the British and French military.

Vandergriff also teaches in the corporate and public sectors, applying the same principles. Part of his instruction includes tactical decision games that can be very challenging. Participants “were frustrated, confused and challenged. As they day went on, they got into it, and then remarked at the end of the day and follow-on emails, how much that made them better leaders. When developing adaptability, you want to put your students in uncomfortable situations doing scenarios they are not familiar with," he says.

“The number one objective in my developing leaders is strength of character,” says Vandergriff. “I believe in what I am doing… What keeps me going is a belief in what I am doing is right. I was raised to see a problem, fix it.” That's good advice for anyone leading in a complex environment. Leaders lead by doing, and so often they must do the fixing and solving so that the organization can move forward.

To give comment visit this website:

http://discussionleader.hbsp.com/baldoni/2008/07/

leading_into_the_unknown.html

Would You Let Brett Favre Play for Your Team?

Posted by John Baldoni on July 17, 2008 10:47 AM

Last spring Brett Favre pulled the plug on his pro football career, saying that he didn’t have the heart to play any longer. This July he's had a change of heart. This is not the first time Favre has changed his mind about retirement. But what's different this time is that his team, the Green Bay Packers, don't want him back.

For the Packers organization, the saga is bigger than just one player, Favre. It's a succession planning story. Succession planning is not about individuals leaving; it's about organizations preparing for the future. Effective leaders eventually will need to be replaced. And so Favre’s “un- retirement” raises questions about when a leader should leave and why. Here are some questions for the organization to consider:

What does the leader contribute to the organization? Good leaders who have led for a long time have a presence that is tangible but not necessarily measurable. Organizations value them not because of what they do but because of their ability to mobilize others to action. Removing that person from the organization will create a leadership vacuum in terms of authority, initiative and presence. Organizations need to understand the effect that their leaders have.

Who can replace the leader? Good leaders are hard to replace, but too many organizations make the mistake of trying to fit an exact replica into the slot. Successful organizations find the right person for the job, not the person that most closely resembles the previous leader. You're not finding someone to lead yesterday’s team; you're hiring someone to lead tomorrow’s team. That may require a completely different set of talents and skills.

How can the organization prepare the incoming leader? The organization needs to think about what it needs its leader to do and help her achieve it. For example, if the organization needs to focus on execution, it needs to be willing to invest in operational aspects of the business. On the other hand, if growth is a priority, investments in product development and marketing are essential. However, these directions must be jointly decided. So often new leaders fail because their goals do not match organization goals; synchronicity is essential to success.

Without question, Favre was the most exciting quarterback of his generation; his gift for spontaneity made him a play maker who could tangle a defense in knots and help his team score. But when he retired, the Packers planned for his absence by grooming a successor and installing a new offense. The team had already executed on its succession plan.

Even with great leaders, it seems, it's not what you have done in the past that matters most; it's what you will do in the present and future that makes a difference.


To give comment visit this website:
http://discussionleader.hbsp.com/baldoni/2008/07/
would_you_let_brett_favre_play_for_your_team.html

How Are You Coping with Fear?

Posted by John Baldoni on July 14, 2008 9:13 AM

One of the emotional impacts of navigating a tough economy is fear. We speak of courage as a virtue, but seldom do we spend enough time considering the flip side of courage, fear! Of course it's there, lurking, but how should we deal with it? Specifically, should manager show fear? If so, what happens when they do?

Questions such as these haunt the workplace as declining revenues dictate cutbacks in resources and manpower. Whenever someone is let go, at least ten other people wonder if they may be next. The sense of unease that creates makes people distracted from their work and productivity suffers. Worse, they may dread coming to work for fear of getting the news that today is their last day. As the fear percolates throughout the workplace, what can managers do to address it? Here are some suggestions.

Acknowledge fear. Fear is not something that you sweep under the rug, especially in tough times. When people ask about their jobs, or the status of the team, be straight with them. Give them as much information as you can. Dismissing their concerns only heightens the sense of uncertainty.

Focus on the work. Managers are not therapists; they are hired to get work done. Focusing on the work helps you find relief from outside pressure. The manager needs to keep engaged in the work flow by monitoring what is happening as well as what isn't happening. She needs to find ways to keep people engaged.

Find hope. Tough times require hope, but it can be difficult to find. Finding satisfaction in work may help some people; others will need more uplifting. Managers can do this by celebrating results in meetings or even springing for lunch, either on site or off. Most important, managers need to set the emotional by and remain upbeat, at least about the work. If the manager mopes, the team will lose heart.

Above all, the leader can't show fear. She may feel fear, but the leader can't reveal its effects. Her job is to serve as the team's bulwark. She must be the proverbial shoulder upon which they can lean. Why? Because it's the job of the leader to address adversity. Stalwart behavior in times of crisis is essential. If the leader falls apart, people will lose their sense of faith in the organization, and that's deadly to team performance.

When the leader carries herself with a firm focus on the task as well as consideration for others, she inspires others to follow her example. She does not remove the fear, but she enables others to concentrate on what they can control rather than what they can't control – their immediate fate.

How well are bosses you know coping with fear?

To give comment this website :

http://discussionleader.hbsp.com/baldoni/2008/07/how_are_you_coping_with_fear.html

The Challenge of Developing Leaders in Afghanistan

Posted by John Baldoni on July 9, 2008 11:32 AM

Lt. Col. Todd Henshaw, director of leadership studies at the United State Military Academy at West Point, recently spent two months in Afghanistan helping to create the National Military Academy of Afghanistan (NMAA). In the second of two posts, Henshaw explains the challenge of finding and developing leaders in Afghanistan. His comments are in quotation.

Leadership rests on the notion of authority.”Expectations for leadership in the Afghan military necessarily flow from Afghan culture, and what it means to be “in charge.”

Leaders do not shirk from challenges. Leaders whom Henshaw observed are “faced with a very difficult task involving “getting people on board,” obtaining resources in the most constrained conditions I have ever seen, and in the thick of things, amongst the violence, uncertainty, and difficulty, maintaining optimism and the necessary determination to get the job done.”

Leaders embrace challenges and shrug off the recognition. “I’ve often asked myself, ‘why are leaders so common in Afghanistan?' I think that this requires several answers. Each of these leaders [Henshaw knew] was attracted to Afghanistan by the very conditions that would make most people run from this situation. Each had an incredible passion for their purpose and their role, and each was actively developing other leaders who would eventually stand in their place. Finally, I would make the case that we have many leaders among us that, until called upon, resemble the rest of us… [T]hese leaders say that they are just doing their jobs.”

Western-style leadership has limitations. “Young Afghans also understand that western theories and concepts cannot be applied in Kabul in the same way as in Abilene. In fact, many of the questions asked by cadets in the leadership classes involve this translation of concepts within local culture.”

Leadership development must be localized. Until the Afghan professorate is ready to develop their own publications to inform the Afghan society about “Afghan Leadership,” young Afghans will rely on western thinking, albeit with a local twist. My hope would be that at least one of the cadets in the leadership major at NMAA will pursue further study, and will build the Afghan leadership press.”

Afghanistan has suffered decades’ worth of destruction at the hands of the Soviets and the Taliban. One key to helping Afghanistan join the 21st century is education. Investment in that educational process says Col. Henshaw is critical. “The young people of Afghanistan are the ones who will carry the country forward over the next century, and they also happen to be the generation whose development has been most impeded by the lack of stability in the country. It makes sense to invest in opportunities to develop the next generation of Afghan leaders by funding leadership development programs.”

Most of us will never face conditions as daunting as those in Afghanistan, but anyone who aspires to leadership can learn from young Afghanis who want to lead and the advisers who teach them. And the biggest lesson is this: leadership counts! How you demonstrate it can make the difference between success and failure.

http://discussionleader.hbsp.com/baldoni/2008/07/the_challenge_of_developing_le.html

Redefining the CEO Agenda for the 21st Century

Posted by Umair Haque on June 12, 2008 8:34 PM

Over the last few weeks, many of you have said - as many CEOs have said to me over the last couple of years - "Hey: why do you talk about Google so much? Can we have some other examples?"

Now, I've talked about many other players here: Starbucks, Nike, Tata, Wal-Mart, and Ryanair, to name just a few.

But let's put those examples aside for a second. Let me offer you the same logic I give the boardroom.

The problem is this. Google is light-years ahead of, well, almost everyone. Consider how subtly yet totally Google just outflanked Microsoft. If strategy was an evolutionary tree, most businesses would be slugs, and Google would be a mammal.

Or consider what Eric Schmidt said today: that Google has a "moral imperative" to help publishers benefit from advertising. That's a living example of one of the principles we've discussed - good beats evil - being used to make real-world strategic decisions.

How many other CEOs have mentioned the words "moral imperative" recently? Almost none. The results of a search on that phrase related to CEOs, for example, are almost all Eric Schmidt - and I stopped counting after ten pages of results. More tellingly, the inverse search - CEOs who aren't Eric Schmidt talking about a moral imperative - yields almost no meaningful results.

Can you imagine Steve Ballmer, Steve Case, Chuck Prince, Michael Eisner, Rupert Murdoch, or Jeff Immelt talking about a "moral imperative"? It's about as likely as Elvis coming back from the beyond. Why don't they? Because orthodox management and strategy have given them tools and concepts built for an industrial era. Perhaps it's no surprise, then, that the companies they run (or ran) are falling squarely into strategy decay.

And that's how Google ends up in a league of it's own. Schmidt's quote is important because it's a vivid demonstration of Google having the courage to question business as usual - in fact, this time, Schimdt is challenging perhaps the foundational orthodoxy of industrial-era business.

Greed is good, right? Wrong. In fact, good is good: today, it's good that can be deeply strategic, and powerfully profitable.

Think about that for a second.

No - Google doesn't always get it right, it doesn't always do no evil, and doing good isn't the only new principle of management (here's another one). In the coming days, we'll discuss Google's weaknesses. But Google - to resort to an inelegant turn of phrase - gets it.

I discuss Google often because I think it just might be the first real 21st century business: a company with a radically different set of principles wired into it's DNA. Larry, Sergey, and Eric, I think, understand intuitively that the tools and concepts of orthodox strategy and management are failing today's boardroom - and, even better, they're defining a new CEO agenda for it.

Let me get your perspectives. What do you think should shape the the next-generation CEO agenda? What questions, principles, and ideas do you think tomorrow's boardrooms must discuss that today's boardrooms don't? Fire away in the comments.

http://discussionleader.hbsp.com/haque/2008/06/redefining_the_ceo_agenda_for.html

Pixar's Blockbuster Secrets

Posted by Bill Taylor on July 8, 2008 10:40 AM

The arrival of summer means trips to the beach, fireworks and parades—and another boffo performance by the creative geniuses at Pixar. The studio’s just-released summer movie, Wall-E, has generated rapturous reviews, record-setting ticket sales, and loads of cultural commentary.

More than anything, though, Wall-E has generated amazement from Hollywood observers at Pixar’s capacity to generate hit after hit in the fickle world of big-budget filmmaking. Wall-E is the studio’s ninth consecutive number-one movie since the release of Toy Story in 1995, an unparalleled record of creative and commercial success.

There are all kinds of theories about the secrets of Pixar’s success. But I’m convinced that Pixar’s films work so well with audiences because Pixar works so distinctively as a company. My colleague Polly LaBarre and I wrote about Pixar in our book, Mavericks at Work, and its latest box-office hit gives me a chance to reprise one of our “greatest-hit” messages from the book: You can’t win big unless you change the game in your field.

Pixar doesn't just make films that perform better than standard fare. It also makes its films differently — and, in the process, defies many familiar, and dysfunctional, industry conventions. Pixar has become the envy of Hollywood because it never went Hollywood.

More than a few business pundits have drawn parallels between the flat, decentralized "corporation of the future" and the ad-hoc collection of actors, producers and technicians that come together around a film and disband once it is finished. In the Hollywood model, highly talented people agree to terms, do their jobs, and move on to the next project. The model allows for maximum flexibility, to be sure, but it inspires minimum loyalty and endless jockeying for advantage.

Turn that model on its head and you get the Pixar version: a tightknit company of long-term collaborators who stick together, learn from one another, and strive to improve with every production. Andrew Stanton, who directed Wall-E, was a key figure behind Finding Nemo, which won two Oscars, generated worldwide box-office of $840 million, and became the best-selling DVD of all time. But Stanton didn’t follow the success of Nemo by offering himself to the highest bidder or demanding perks and special treatment. He went back to his job as an employee of the studio, to pitch in on other films and eventually begin work on his next major project.

And Stanton is merely one of many superbly talented writers and directors who have staked their reputations on their work at Pixar. Again, in contrast to convention, these professionals have traded one-time contracts for long-term affiliation and contribute across the studio, rather than to just their pet projects.

According to Randy Nelson, who joined the company in 1997 and is dean of Pixar University, this model reflects "Pixar's specific critique of the industry's standard practice." He explains it this way: "Contracts allow you to be irresponsible as a company. You don't need to worry about keeping people happy and fulfilled. What we have created here — an incredible workspace, opportunities to learn and grow, and, most of all, great co-workers — is better than any contract."

Pixar University is at the center of Pixar’s workplace agenda. The operation has more than 110 courses: a complete filmmaking curriculum, classes on painting, drawing, sculpting and creative writing. "We offer the equivalent of an undergraduate education in fine arts and the art of filmmaking," Nelson said. Every employee — whether an animator, technician, production assistant, accountant, marketer, or security guard — is encouraged to devote up to four hours a week, every week, to his or her education.

Randy Nelson is adamant: these classes are not just a break from the office routine. "This is part of everyone's work," he said. "We're all filmmakers here. We all have access to the same curriculum. In class, people from every level sit right next to our directors and the president of the company."

During our research for Mavericks, Polly sat in on a class at Pixar University. The students represented an intriguing cross-section of employees: a post-production software engineer, a set dresser, a marketer, even a company chef, Luigi Passalacqua. "I speak the language of food," he said. "Now I'm learning to speak the language of film."

Thanks to Pixar University, employees learn to see the company's work (and their colleagues) in a new light. "The skills we develop are skills we need everywhere in the organization," Nelson said. "Why teach drawing to accountants? Because drawing class doesn't just teach people to draw. It teaches them to be more observant. There's no company on earth that wouldn't benefit from having people become more observant."

That helps to explain why the Pixar University crest bears the Latin inscription, Alienus Non Diutius. Translation: alone no longer. "It's the heart of our model," Randy Nelson says, "giving people opportunities to fail together and to recover from mistakes together."

That’s not how most of Hollywood does it—which helps to explain why Pixar does so well. How are you changing the game in your field? What is your distinctive take on how your industry operates? Do you work as distinctively as you compete?

Generate compelling answers to these make-or-break questions, and you just might create some hits of your own.

http://discussionleader.hbsp.com/taylor/2008/07/pixar_rulessecrets_of_a_blockb.html