Sunday, August 31, 2014

7 Habits of Incredibly Happy People - TIME

http://time.com/3225667/happy-people-habits/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Happiness is a state of mind. If you're willing to adopt a different approach to your actions, you can achieve it

Want to be happier?
Great–but don’t just wish for a greater sense of satisfaction, fulfillment, and joy. Do something about it. Take a different approach. Adopt a different mindset.
And then let those beliefs guide your actions.
Here are some of the habits of remarkably happy people:

1. They choose (and it is a choice) to embrace who they really are.

None of us really likes how we look. So we try to hide who we really are with the right makeup and the right clothes and the occasional Mercedes. In the right setting and the right light, we’re happy.
But not when we’re at the beach. Or when we’re at the gym. Or when we have to run to the grocery store but feel self-conscious because we’re wearing ratty jeans and an old T-shirt and haven’t showered, and we think everyone is staring at us (even though they’re not). So we spend considerable time each day avoiding every possible situation that makes us feel uncomfortable about how we look or act.
And it makes us miserable.
In reality, no one cares how we look except us. (And maybe our significant others, but remember, they’ve already seen us at our worst, so that particular Elvis has definitely left the building.)
So do this. Undress, and stand in front of the mirror. (And don’t do the hip-turn shoulder-twist move to make your waist look slimmer and your shoulders broader.) Take a good look.That’s who you are. Chances are, you won’t like what you see, but you’ll probably also be surprised you don’t look as bad as you suspected.
If you don’t like how you look, decide what you’re willing to do about it and start doing it. But don’t compare yourself with a model or professional athlete; your only goal is to be a better version of the current you. (Remember, you can have anything, but you can’t have everything.)
Or, if you aren’t willing to do anything about what you see in the mirror, that’s also fine. Just move on. Let it go, and stop worrying about how you look. Stop wasting energy on something you don’t care about enough to fix.
Either way, remember that while the only person who really cares how you look is you, plenty of people care about the things you do.
Looking good is fun. Doing good makes you happy.

2. They never mistake joining for belonging.

Making connections with other people is easier than ever and not just through social media. Joining professional organizations or alumni groups, wearing company polo shirts or college sweatshirts, or even putting a window sticker with initials such as “HH” on your car to announce to the world you summer at Hilton Head Island… People try hard to show they belong, if only to themselves.
Most of those connections are superficial at best. If your spouse passes away, the alumni organization may send flowers. (OK, probably not.) If you lose your job, a professional organization may send you a nifty guide to networking. (OK, probably not, but they will send you the invoice when it’s time to renew your membership, so there is that to look forward to.) Anyone can buy, say, a Virginia Tech sweatshirt. (I didn’t go to Virginia Tech but I do have one. It was on sale.)
The easier it is to join something, the less it means to you. A true sense of belonging comes from giving, self-sacrifice, and effort. To belong, you have to share a common experience–the tougher the experience, the better.
Clicking a link lets anyone join; staying up all night to help meet a release date lets youbelong. Sending a donation gets anyone’s name in an event program; scrambling to feed hundreds of people at an over-crowded soup kitchen lets you belong to a group of people trying to make a difference.
Remarkably happy people do the work necessary to earn a group’s respect and trust–and in so doing truly become part of that group.
A genuine sense of belonging provides a sense of security and well-being even when you’re alone.

3. They accept they can have anything but not everything.

We can’t be everything we want to be. We can all achieve amazing things, but we can’t doeverything we set our minds to. Ability, resources, focus, and, most important, time are unavoidable limiting factors.
Remarkably happy people know themselves, know what is most important to them, and set out to achieve that. The rest they’re satisfied to do well–or to simply let go.
Pick a primary goal. Do your best to excel. Then accept that you can have other goals, but that “good” where those goals are concerned is truly good enough.
Try to have it all and your inability to actually have it all will make you feel like you have nothing.

4. They know business success does not guarantee fulfillment.

You can love your company, but it will never love you back. (Trite, but true.) No one lying on their death bed says, “I just wish I had spent more time at work…” Business success, no matter how grand, is still fleeting.
Fulfillment comes from achieving something and knowing it will outlive you: raising great kids, being a part of a supportive extended family, knowing you have helped others and changed their lives for the better…
Work hard on your business. Work harder on things you can someday look back on with even more pride–and personal satisfaction.

5. They have someone to call at 2 a.m.

Years ago, I lived in a house beside a river. Then a flood caused my house to be in the river. I had about an hour to move as much stuff as I could, and I called my friend Doug. I knew he would come, no questions asked.
I’m sure you have lots of friends, but how many people do you feel comfortable calling in the middle of the night if you need help? How many people do you know whom you can tell almost anything and they won’t laugh? How many people do you feel comfortable sitting with for an hour without either of you speaking?
Most of us wear armor that protects us from insecurity. Our armor also makes us lonely, and it’s impossible to be happy when we’re lonely.
Remarkably happy people take off their armor and make real friends. It’s easier than it sounds, because other people are dying to make real friends, too.
Don’t worry; they’ll like the real you. And you’ll like the real them.
And all of you will be much happier.

6. They never mistake structure for control.

Most of what we do, especially in business, is based on trying to gain control: processes, guidelines, strategies. Everything we plan and implement is designed to control the inherently uncontrollable and create a sense of security in a world filled with random events. (Did I just go all philosophical?)
Eventually, those efforts fall short, because structure never equals control. No matter how many guidelines we establish for ourselves, we often step outside them–otherwise we’d all be slim, trim, fit, and rich. Diets and budgets and five-year plans fall apart, and we get even more frustrated because we didn’t achieve what we hoped.
To-do lists and comprehensive daily schedules are helpful, but you only make real progress toward a goal when it means something personal to you.
Deciding what you really want to do and giving it your all is easier. Plus, you’ll feel a real sense of control, because this time you really care.
And when you truly care–about anything–you’re a lot happier.

7. They never stop failing.

Most of us do everything we can to avoid failure, a natural instinct that leaves an unnatural byproduct–we start to lose the ability to question our decisions.
And we lose the ability to see our business and ourselves from the employee’s point of view. The ability to run a company and lead others is compromised when we lose perspective on what it’s like tonot have all the answers–and what it’s like to make mistakes.
So go out and fail, but not in the way you might think. Forget platitudes such as, “In business, if you aren’t failing, you aren’t trying.” Business failures cost time and money that most of us don’t have. (My guess is “Failure” doesn’t appear as a line item in your operating budget.)
Instead, fail at something outside your business. Pick something simple that doesn’t take long. Set a reach goal you know you can’t reach. If you normally run a mile, try to run three. If you play a sport, play against people a lot better than you. If you must choose a business task, pick something you hate to do and therefore don’t do well. Whatever you choose, give it your all. Leave no room for excuses.
Remarkably happy people often try things for which they can only be judged on their own merits–and are often found wanting. Why?
Failure isn’t defeating; failure is motivating. Failure provides a healthy dose of perspective, makes us more tolerant and patient, and makes us realize we’re a lot like the people around us.
When you realize you aren’t so different or special after all, it’s a lot easier to be happy with the people around you–and, just as important, to be happier with yourself.

Saturday, August 30, 2014

Malaysia Airlines to Cut 6,000 Staff in Overhaul - Associated Press

http://time.com/3219722/malaysia-airlines-to-cut-6000-staff-in-overhaul/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 29, 2014
    

Malaysia Airlines announced the overhaul on Friday to revive its damaged brand, after double passenger-jet disasters


(KUALA LUMPUR, Malaysia) — Malaysia Airlines will cut 6,000 workers as part of an overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters.
The staff reduction represents about 30 percent of its current workforce of 20,000. A search for a new CEO for the airline is underway.
Khazanah Nasional, the state investment company that owns 69 percent of the airline, said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff.
The revamp and new investment in the carrier will cost about 6 billion Malaysian ringgit ($1.9 billion).
“The combination of measures announced today will enable our national airline to be revived,” said Khazanah managing director Azman Mokhtar.
The airline will be taken completely under the wing of the government. Khazanah previously announced that it plans to take 100 percent ownership.
A substantial revamp has long been on the cards for Malaysia Airlines, which was struggling with chronic financial problems even before it was hit by the double disasters this year.
Investigators continue to scour the southern Indian Ocean for Malaysia Airlines Flight 370 which veered far of course while en route from Kuala Lumpur to Beijing on March 8 with 239 people on board. In July, 298 people were killed when Flight 17 was blasted out of the sky as it flew over an area of eastern Ukraine controlled by pro-Russian separatists.
The tragedies have scarred the airline’s brand, once associated with high-quality service. Travelers on recent long-haul flights have posted photos on social media of nearly empty cabins and departure lounges. The airline says passengers fell 11 percent in July from the year before.
In releasing its latest quarterly financial result, a loss, on Thursday, Malaysia Airlines said the worst impact from the disasters will come in the second half of this year.
Khazanah said at a press conference that it has begun a search for a new chief executive for the airline, which is likely to be completed by the end of this year.
Current CEO Ahmad Jauhari Yahya will continue to head Malaysia Airlines until its new incarnation is established in July next year.
The state investment fund said it aims to restore Malaysia Airlines to profitability by the end of 2017.

Friday, August 29, 2014

WhatsApp Now Has 600 Million Monthly Users - TIME

Aug. 25, 2014

That's 100 million more than in April

Popular messaging service WhatsApp has reached 600 million monthly active users,according to the company’s CEO, Jan Koum.
WhatsApp was approachingthe half-billion user mark when Facebook agreed to buy the company for $19 billion in February, and passed that figure in April.
WhatsApp is one of a variety of SMS alternatives that allow users to send mobile photos and messages to each other via the Internet. Line, a app popular in Asia, has 400 million users and Facebook’s own Messenger service has 200 million.
Facebook’s purchase of WhatsApp is expected to be completed by the end of the year.

April 22, 2014
    
WhatsApp CEO Jan Koum shows off his personal phone at Mobile World Congress in Barcelona on February 24, 2014

Not yet part of Facebook, which is still in the process of buying it, or a household name in the U.S., the messaging app is continuing to grow, and grow and grow, adding around 25 million new active users every month

When Facebook announced its stunning agreement to acquire messaging app WhatApplast February for $19 billion in stock, cash and restricted stock units, Mark Zuckerberg said that the startup was on track to reach a billion users. That pretty much explained his interest: It’s a figure that doesn’t come up often when discussing networked services other than…well, Facebook.
As of today, it’s official: WhatsApp is halfway there.
In a blog post today, it’s announcing that the app has 500 million users–not just people who registered, but ones who are active participants. I recently sat down with CEO and cofounder Jan Koum at the company’s headquarters in Mountain View, Calif. to talk about the news.
Judging from its periodic statements over the past year, WhatsApp has been adding around 25 million new active users every month, a pace that isn’t slowing. The 500 million people now on board send tens of billions of text messages a day, along with 700 million photos and 100 million videos.
“On one hand, we were kind of expecting it,” Koum says of reaching the half-billion mark. “We got to 200 million users, 300 million users, 400 million users. It was going to happen sooner or later. But we think it’s an exciting number to share with the world and a good milestone to acknowledge what’s all been organic growth.”
In the U.S., WhatsApp is still probably best known as that company Facebook is in the process of buying. (The FTC signed off on the sale earlier this month–while emphasizing that WhatsApp must continue to abide by privacy promises it made to users–but other regulatory approvals are still pending internationally.) In much of the world, though, it’s already the app all your friends and relatives are using instead of carrier-provided text messaging.
Koum says that the app’s torrid growth tracks with the boom of smartphones–especially Android models. As people in a country join the smartphone era, some of them get WhatsApp. And then their friends and family members do, too, and the service explodes.
WhatsApp’s Android versionWhatsApp
Right now, “the four big countries are Brazil, Mexico, India and Russia,” he says. “People who never used computers, never used laptops, never used the Internet are signing up.”
Rather than going after any particular country, Koum says, WhatsApp has always obsessed about the overall usage number. “We’re pretty confident that eventually we will a reach tipping point in the U.S. as well. Russia only tipped in the last six months. A switch flipped, and we took off.”
Though WhatsApp’s customer base may skew towards young people who like to share lots of quick messages and lots of photos, Koum says that it’s a mistake to assume that it’s just kids who are keeping the app growing. “We hear lots of stories where grandparents go to a store and buy a smartphone so they can keep in touch with kids and grandkids,” he says. That dynamic is helped by the app’s ridiculously easy setup–you don’t even have to create a user name or password–and features such as the ability to adjust the font size for easy readability.
The growth in smartphones isn’t enough to keep WhatsApp growing, however. There may be roughly two billion smartphones in the world, Koum notes, but between 500 million and one billion of them may be used without a data plan. In most cases, that’s because of cost, but the availability of Internet access isn’t a given everywhere.
“We take [connectivity] for granted in Silicon Valley, where you turn on your phone and see twenty different Wi-Fi networks,” he says. He told me how moved he’d been by a National Geographic photo showing people in Djibouti in the Horn of Africa standing on a beach with their phones in outstretched arms, trying to catch a stray wireless signal from neighboring Somalia, and says that he’s passionate about efforts such as Internet.org, a partnership between Facebook and mobile technology companies to bring Internet access to everybody, everywhere.
“We have no plans to change anything about how we execute.”Even in developed countries, “not everybody is on a data plan, which is unfortunate,” he says. So for the past two and a half years, WhatsApp has been busy partnering with wireless carriers around the world to offer affordable access to its service.
“We’ve done some really cool deals, and they’re not all cookie-cutter,” Koum explains. In India, you can sign up to get unlimited WhatsApp for 30 cents a month. In Hong Kong, you can buy a WhatsApp roaming pass. In Germany, there are WhatsApp-branded SIM cards, with unlimited WhatsApp service and starter credits for voice and data.
Rather than carriers looking at WhatsApp solely as a scary, disruptive force killing their ability to make money off text messaging, such offerings turn the service into a “win-win-win,” Koum says. “Users get unlimited WhatsApp. We get happy users who don’t have to worry about data. Carriers get people willing to sign up for data plans.”

The Future–and Oh Yeah, Facebook

For all of its growth, WhatsApp remains a famously lean operation: It got those 500 million active users with a team that only recently reached 60 staffers, for a ratio of over eight million users per employee. Koum says that the company doesn’t need to grow huge to serve even more folks. But “we do need more people–we’re actively hiring,” he says.
In particular, it’s beefing up its ability to provide customer support in more languages, including Portuguese, German, Ukranian, Polish and Romanian. “If anyone reading this article speaks multiple languages, they should apply,” he jokes.
When news of the Facebook acquisition broke, it inspired many people to worry about what it meant for the future of WhatsApp, whose business model has had a decidedly un-Facebookian slant in the past. The company makes money from customers–who pay 99 cents a year for service after the first year–and has been staunchly anti-advertising.
Both companies said at the time that WhatsApp would continue to be run independently and according to its existing principles, a point Koum stressed when I asked him about it.
“What makes our product work is the way we’re tightly focused on messaging and being an SMS replacement,” he says. The company plans to stick with that approach as it looks to “continuing to get to a billion users, and then two billion users. I think Facebook understands that, and Mark [Zuckerberg] understands that quite well. We have no plans to change anything about how we execute.”
As for competition from other messaging apps–and boy, is there a lot of it–Koum told me that some of WhatsApp’s rivals, such as Japan’s Line and China’s WeChat, are getting distracted from their core missions. People use WhatsApp, he says, to “keep in touch with each other, not movie stars or sports stars or random people you meet on the Internet. That’s why we’re succeeding internationally.”
“We want to do one thing and do it really well. For us, that’s communications between people who are friends and relatives.”

Thursday, August 28, 2014

IMF Chief Lagarde Under Investigation in France - Associated Press

http://time.com/3189623/imf-chief-lagarde-under-investigation-in-france/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 27, 2014
    
Christine Lagarde at IMF headquarters in Washington D.C., in April 2014.Allison Shelley—Getty Images

PARIS (AP) — Christine Lagarde, the chief of the International Monetary Fund, was placed under official investigation for negligence in a French corruption probe that dates back to her days as France’s finance minister.
In a statement Wednesday after a fourth round of questioning before magistrates, Lagarde said she would return to her work in Washington later in the day and said the decision was “without basis.” She is the third IMF managing director in a decade to face legal troubles.
She and her former chief of staff face questions about their role in a 400 million-euro ($531 million) payment to a businessman.
“After three years of proceedings, dozens of hours of questioning, the court found from the evidence that I committed no offense, and the only allegation is that I was not sufficiently vigilant,” she said in her statement.
Under French law, the official investigation is equivalent to preliminary charges, meaning there is reason to suspect an infraction. Investigating judges can later drop a case or issue formal charges and send it to trial.
The payment in question was made to Bernard Tapie in arbitration over a dispute with state-owned bank Credit Lyonnais over the botched sale of sportswear company Adidas. Critics have said the deal was too generous, and was symptomatic of the cozy relationship between money and political power in France.
The court investigating the Tapie payment has been set up specifically for allegations of wrongdoing committed in office. Lagarde’s former chief of staff — now head of the French telecom giant Orange — and Tapie both are under formal investigation for fraud.
Lagarde became French finance minister in 2007, the first woman to hold the post in a G-7 country.
Her predecessor at the IMF, Dominique Strauss-Kahn, quit after he was charged with attempted rape in the United States. The New York charges were later dropped. Strauss-Kahn is charged with aggravated pimping in a separate case in France.

A previous IMF chief, Rodrigo Rato, faced allegations of fraud in Spain after the bank he led as chairman collapsed. The collapse of Bankia came well after Rato’s tenure in the Washington-based IMF ended in 2007.

Wednesday, August 27, 2014

Volvo Is Banking on This Car to Crack the Top End of the World’s Biggest Auto Market - TIME

http://time.com/3172727/volvo-xc90-geely-china-car-automobile-market/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29


  •  
Aug. 26, 2014
    

But will affluent Chinese consumers like the XC90?


Volvo unveils its first car under Chinese ownership on Tuesday. It’s a high-stakes moment for the Swedish carmaker —and a time of reckoning for the Chinese auto industry’s global ambitions.

“If Volvo is successful, it will have a great significance on Chinese automakers,” Bin Zhu, China forecast-team manager at consultancy LMC Automotive, tells TIME. “It could boost their confidence and set an example for the whole industry.”

More cars are being produced and sold in China than anywhere else in the world, yet the country’s domestic brands have failed to have international impact. In fact, they’re even struggling at home. More Chinese drive a Ford, Volkswagen or Nissan than a Chery, Dongfeng or Great Wall. And as buyers become more affluent, domestic marques are shunned even more.
Consultancy firm McKinsey forecasts that China’s premium car market will be the largest in the world by 2020. However, consumers they talk to doubt that any local carmaker will have come up with a model prestigious enough for them by then. Currently, the three top brands — Audi, BMW and Mercedes — dominate 75% of the premium sector and keep growing at the expense of local rivals. The new Volvo XC90 could buck that trend.
“It’s a car that hits right in the heart of the market,” James Chao, director of the IHS consultancy’s automotive unit, tells TIME. “It’s a little larger SUV, premium but not fully luxury. It’s retained a lot of Volvo’s European flair, while many people surely would feel proud to drive a Chinese vehicle of this caliber. If it’s priced competitively and realistically, it could be a hit.”
Success isn’t guaranteed. There was widespread skepticism when Geely first purchased Volvo in 2010. Other acquisitions, such as state-owned SAIC’s deal with Korean Ssangyong or SAIC’s subsidiary Nanjing Auto’s purchase of MG Rover, failed to bring the sought-for synergies.
“Sometimes the Chinese companies have taken a lot of time to absorb the knowledge, or the knowledge has been out of date,” says Bin. But, he adds, Volvo and Geely could be different. “Volvo needed a lot of investment to develop new technology, while Geely had money but no strong development team. It was a win-win situation.”
The partnership got off to a shaky start. Managers from the two companies publicly contradicted each other on how Scandinavian the new cars would be, and the sometimes brash Chinese tastes collided with the sober aesthetic of safety-minded carmakers from Torslanda. However, communication slowly improved and the two sides seem to have found some equal ground. In an interview with the Financial Times, Volvo’s head of design Thomas Ingenlath said that Geely’s owner Li Shufu had “opened our eyes” to the importance of a backseat experience that included a champagne cooler and a humidor. Li, for his part, expressed his admiration for Volvo’s values, and said that he thinks they may stand for something the Chinese are craving right now.
“Particularly in China, I think a lot of people start to realize: O.K., what are the things that they truly should value,” Li told the Financial Times. “That’s something that fits perfectly well with what Volvo is offering.”
There’s no arguing about the importance of the new XC90 to both firms: it’s the first to be rid of Ford technology (the American automaker sold Volvo to Geely in 2010) and the product of an $11 billion development process that will lead to a completely renewed Volvo fleet by 2020. If the XC90 doesn’t become successful, Li toldthe Wall Street Journal, “it will be very painful.”
The partnership does have one competitive advantage. Since Geely owns Volvo, it doesn’t have to live by the restrictions for joint ventures and can be more aggressive when it comes to research, development and manufacturing facilities inside China.
“We’ll absolutely see more cross-pollination in the coming five years,” says Chao at IHS, who says the Volvo name should give Geely a boost. “[Chinese automaker] Hongqi sold about as many cars last year as Audi does on an average day,” he says. “Maybe the best idea isn’t to introduce your own branded car in China at this point.”
LMC’s Bin agrees. “I think we’ll see more localization and cars tailor-made for China,” he says. In the long term, he says there could be “an opportunity to challenge the German automakers.”
Whatever the outcome, there is no denying the crucial importance of the XC90’s launch for Volvo.

“It’s the biggest proof of what we’re all about,” Alain Visser, Volvo’s head of sales and marketing, tells TIME. “If this doesn’t work out, we have an issue.”

Tuesday, August 26, 2014

The California Quake May Cost Wine Country Billions - Reuters

http://time.com/3180988/california-quake-economic-napa-valley-wine-country-billions/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    

On the other hand, it could have been much worse


Financial damage from the earthquake that rattled California’s Napa Valley on Sunday may barrel from hundreds of millions of dollars of immediate property damage to billions in total economic losses, Reuters reports.
On top of more than 200 people injured, around 50 buildings in the city of Napa — the famed wine region’s economic hub — were deemed unsafe to enter following the 6.0-magnitude quake. The temblor was the fiercest to hit the state’s Bay Area in 25 years, Reuters says.
Disaster-modeling firm CoreLogic estimated that the total insured economic losses to the region could range from $500 million to $1 billion; but as only 6% of local homes are estimated to have earthquake coverage, according to the Insurance Information Institute in New York City, the total bill is likely to be much higher.
While Napa’s 2014 vintage is still slated for great things, a large amount of stock was destroyed by the quake. “It’s a big mess right now,” Rick Ruiz, operations director for the wine retailer TwentyFour Wines, told Reuters. “It’s a logistical nightmare.”
However, wine buffs need not totally despair, as the timing of the quake was in fact somewhat fortuitous — coming after the 2013 vintage had been dispatched for delivery but before most of the current year’s grape harvest was picked.

Monday, August 25, 2014

5 Ways Successful People Avoid Freaking Out - TIME

http://time.com/3144397/avoid-freaking-out/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 19, 2014
    
By Jessica Stillman
If you spend much of your days being frantic in your pursuit of success, you should know that research shows that the vast, vast majority of high performers are actually very calm. Being hectic (if not downright panicked) isn’t a hallmark of success; it’s a sign you’re making it difficult to reach your own peak level of performance.
That’s the message of a recent LinkedIn post from TalentSmart president Travis Bradberry. “TalentSmart has conducted research with more than a million people, and we’ve found that 90 percent oftop performers are skilled at managing their emotions in times of stress in order to remain calm and in control,” he writes.
In the post he not only lays out his company’s findings about the emotional state of super achievers as well as a round-up of recent research on stress, but also suggests some tips on how the rest of us can emulate their calm. Here are a few to get you started.

Gratitude

If you’re never satisfied, you’re never calm. A fact high performers have figured out, according to Bradberry. Top-tier talent may be strivers, but they also understand the importance of gratitude for what they already have, he contends.
“Taking time to contemplate what you’re grateful for isn’t merely the ‘right’ thing to do. It also improves your mood, because it reduces the stress hormone cortisol by 23 percent. Research conducted at the University of California, Davis found that people who worked daily to cultivate an attitude of gratitude experienced improved mood, energy, and physical well-being,” Bradberry reports. Another recent study found gratitude can also improve decision making by making us less impatient.

Disconnect

“Given the importance of keeping stress intermittent, it’s easy to see how taking regular time off the grid can help keep your stress under control. When you make yourself available to your work 24/7, you expose yourself to a constant barrage of stressors. Forcing yourself offline and even–gulp!–turning off your phone gives your body a break from a constant source of stress,” Bradberry says.
High performers know that if you’re always on, you’re never at your best and unplug accordingly. Best-selling author Tim Ferriss, for example, recommends leaving your smartphone at home (or otherwise out of reach) at least one day a week.

Sleep

You probably know this one already, so come on, why aren’t you acting on it? “I’ve beaten this one to death over the years and can’t say enough about the importance of sleep to increasing your emotional intelligence and managing your stress levels,” insists Bradberry. Need more convincing? I could link to studies about the horrors of sleep deprivationall daywithoutbreaking a sweat, as well as posts frompeople you admire urging you to go to bed already!

Self-Talk

How you talk to yourself (in your head) matters. High flyers know this and nip negative self-talk in the bud. Bradberry suggests a way to follow their example and do just that: “The more you ruminate on negative thoughts, the more power you give them. Most of our negative thoughts are just that–thoughts, not facts. When you find yourself believing the negative and pessimistic things, your inner voice says, ‘It’s time to stop and write them down.’ Literally stop what you’re doing and write down what you’re thinking. Once you’ve taken a moment to slow down the negative momentum of your thoughts, you will be more rational and clear-headed in evaluating their veracity.”

Breathe


“The easiest way to make stress intermittent lies in something that you have to do everyday anyway: breathing. The practice of being in the moment with your breathing will begin to train your brain to focus solely on the task at hand and get the stress monkey off your back. When you’re feeling stressed, take a couple of minutes to focus on your breathing,” writes Bradberry.

Sunday, August 24, 2014

Here’s How Much Banks Have Paid Out Since the Financial Crisis - TIME


  • http://time.com/3154590/bank-payouts-since-financial-crisis/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29
  • Noah Rayman @noahrayman
  •  
Aug. 21, 2014
    

Bank of America's new settlement with the Justice Department is among the largest


The Bank of America deal announced Thursday, the government’s largest-ever settlement with a single company, means the nation’s second-biggest bank will shell out $16.65 billion over allegations that it knowingly sold toxic mortgages to investors.
The landmark agreement is a win for the government—particularly the Department of Justice, which spearheaded the probe—after drawing criticism for its sometimes weak response to the financial crisis in 2008. The sum surpasses Bank of America’s entire profits last year and is significantly higher than the $13 billion it offeredduring negotiations in July.
But the deal also caps a string of settlements that the Justice Department and other regulators have imposed on banks in the wake of the recession. Since the crisis, the six largest banks by assets have paid more than $123.5 billion in settlements over faulty mortgages, according to previous data from SNL Financial and incorporating the latest settlement. Authorities have forced the banks to pay the majority of that amount, and more deals are likely: Goldman Sachs and Wells Fargo are both reportedly on deck.
Here are seven of the largest government settlements:
$25 Billion
Wells Fargo, J.P. Morgan Chase, Citigroup, Bank of America, Ally Financial
February 2012
In what President Barack Obama called a “landmark” settlement, five of the nation’s largest banks agreed to a $25 billion settlement with 49 states and the feds to end an investigation into faulty foreclosure practices (Oklahoma reached a separate deal). Most funds were directed toward mortgage relief.
$16.65 Billion
Bank of America
August 2014
The settlement announced on Aug. 21 includes $7 billion for consumer relief, such as mortgage modification and forgiveness, and $9.65 billion in cash. But the deal doesn’t absolve the Charlotte-based bank of future criminal claims or claims by individuals.Bank of America has paid more than $60 billion in losses and legal settlements spawning from troubled mortgages—the most of any bank.
$13 Billion
J.P. Morgan Chase
November 2013
The largest U.S. lender agreed to what was then a record-setting settlement with the Justice Department over its role in the sale of the mortgages. “JPMorgan was not the only financial institution during this period to knowingly bundle toxic loans and sell them to unsuspecting investors, but that is no excuse for the firm’s behavior,” Holder said at the time.
$11.6 billion
Bank of America
January 2013
The bank, which acquired the mortgage lender Countrywide Financial in 2008, agreed to a $11.6 billion settlement over claims that it and Countrywide improperly sold mortgages to Fannie Mae.
$9.5 billion
Bank of America
March 2014
Ahead of the Justice Department settlement, Bank of America agreed to pay $9.3 billion to settle additional allegations that it sold faulty mortgages to Fannie Mae and Freddie Mac.
$9.3 Billion
Thirteen Banks
February 2013
Federal regulators finalized a deal with thirteen lenders — including the three largest — for faulty processing of foreclosures. The sum allowed for borrowers who went through foreclosure to access up to $125,000.
$7 Billion
Citigroup
July 2014
Citigroup, the third-largest bank, and the Justice Department announced the deal in July amid allegations that the company misled investors about the mortgage-backed securities. The settlement, which included about $2.5 billion for consumer relief, surprised some analysts by its size, but was a harbinger of what was in store for Bank of America in the coming weeks.

Saturday, August 23, 2014

Don’t Count the iPhone 6’s September 9 Debut Out Yet - TIME

http://time.com/3158884/iphone-6-september-9/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 22, 2014
    

The new iPhone line reportedly had a backlight engineering problem that goofed up the assembly process earlier this summer.


Reuters is reporting that Apple may be having difficulty prepping a sufficient number of screens for the next iPhone. Apple is expected to unveil the new line at media event on September 9. The problem, says Reuters, involves a “key” component that’s disrupting the production of the line’s new screens, rumored to be larger than the iPhone 5’s current four inches, and possibly come in two sizes.
More specifically, Reuters’s supply chain sources say the problem is with the backlight configuration in the new phones. Apple wanted to reduce the material used for the backlight from two layers to one in hopes of thinning the phones, says Reuters. But without that second layer, the phones apparently weren’t bright enough, which forced the parts back to engineering and held up the assembly process earlier this summer. That’s now impacting the number of screens Apple’s been able to produce in the ramp up to the unveiling, according to Reuters’ sources.
How many phones amounts to a sufficient number at launch anyway? I have no idea, nor does Reuters, but the news site defangs the issue somewhat by pointing out that its sources indicated the “hiccup” may or may not make it harder for you to get one of the new phones at launch or delay the phones outright. Thus we’re left to mull the possibility that there could be a launch availability problem, but with absolutely no idea of its magnitude, on a scale that runs from “catastrophic” to “irrelevant.”

Short of actually delaying the debut, which seems unlikely at this point–rumors of a September 9 event bubbled up just a few weeks ago, well after the June/July timeframe referred to in the Reuters piece–it’s unlikely we’ll know whether this story impacted the phones’ arrival. Availability issues have been a major part of every new iPhone launch, and a certain amount of scarcity–so long as Apple’s able to ramp up production to meet or surpass its fiscal projections in the long run–isn’t the worst problem to have. Sony’s PlayStation 4, for instance, which Sony claims was plagued by supply issues from launch, has gone on to sell 10 million units worldwide, a record-breaking figure even Sony can’t explain.

Friday, August 22, 2014

Top 10 Qualities of Extremely Successful People - TIME

http://time.com/3153429/success-2/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 21, 2014
    

If you really want to bringsuccess into your life, you should cultivate yourself just as you’d cultivate a garden for the best yield.
The attributes here are shared by successful people everywhere, but they didn’t happen by accident or luck. They originate in habits, built a day at a time.
Remember: If you live your life as most people do, you will get what most people get. If you settle, you will get a settled life. If you give yourself your best, every day, your best will give back to you.
Here are the traits that the highly successful cultivate. How many do you have?

1. Drive

You have the determination to work harder than most and make sure things get done. You pride yourself on seeing things getting completed and you can take charge when necessary. You drive yourself with purpose and align yourself with excellence.

2. Self-reliance

You can shoulder responsibilities and be accountable. You make hard decisions and stand by them. To think for yourself is to know yourself.

3. Willpower

You have the strength to see things through–rather than vacillate or procrastinate. When you want it, you make it happen. The world’s greatest achievers are those who have stayed focused on their goals and been consistent in their efforts.

4. Patience

You are willing to be patient, and you understand that, in everything, there are failures and frustrations. To take them personally would be a detriment.

5. Integrity

This should not have to be said, but it’s seriously one of the most important attributes you can cultivate. Honesty is the best policy for everything you do; integrity creates character and defines who you are.

6. Passion

If you want to succeed, if you want to live, it’s not politeness but rather passion that will get you there. Life is 10 percent what you experience and 90 percent how you respond to it.

7. Connection

You can relate with others, which in turns makes everything reach further and deepen in importance.

8. Optimism

You know there is much to achieve and much good in this world, and you know what’s worth fighting for. Optimism is a strategy for making a better future–unless you believe that the future can be better, you’re unlikely to step up and take responsibility for making it so.

9. Self-confidence

You trust yourself. It’s as simple as that. And when you have that unshakeable trust in yourself, you’re already one step closer to succeeding.

10. Communication

You work to communicate and pay attention to the communicators around you. Most important, you hear what isn’t being said. When communication is present, trust and respect follow.
No one plans on being mediocre; mediocrity happens when you don’t plan. If you want to succeed, learn the traits that will make you successful and plan on living them out every day.

Be humble and great. Courageous and determined. Faithful and fearless. That is who you are, and who you have always been.

Thursday, August 21, 2014

Europe’s Economic Woes Require a Japanese Solution - TIME

http://time.com/3147434/europe-japan-economy-recession-ecb-european-central-bank/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 20, 2014
    
A pedestrian carries a plastic shopping bag as she passes a closed-down temporary outlet store in Rome, Italy, on Tuesday, Aug. 12, 2014. Italy's economy shrank 0.2 percent in the second quarter after contracting 0.1 percent in the previous three months.Bloomberg—Bloomberg via Getty Images

The region’s economy is starting to resemble Japan’s, and that threatens to condemn Europe to its own lost decades


No policymaker, anywhere in the world, wants his or her national economy to be compared to Japan’s. That’s because the Japanese economy, though still the world’s third-largest, has become a sad case-study in the long-term damage that can be inflicted by a financial crisis. It’s more than two decades since Japan’s financial sector melted down in a gargantuan property and stock market crash, but the economy has never fully recovered. Growth remains sluggish, the corporate sector struggles to compete, and the welfare of the average Japanese household has stagnated.

The stark reality facing Europe right now is that its post-crisis economy is looking more and more like Japan’s. And if I was Mario Draghi, Angela Merkel or Francois Hollande, that would have me very, very nervous that Europe is facing a Japanese future — a painful, multi-decade decline.

The anemic growth figures in post-crisis Europe suggest that the region is in the middle of a long-term slump much like post-crisis Japan. Euro zone GDP has contracted in three of the five years from 2009 and 2013, and the International Monetary Fund is forecasting growth of about 1.5% a year through 2019. Compare that to Japan. Between 1992 and 2002, Japan’s GDP grew more than 2% only twice, and contracted in two years. What Europe has to avoid is what happened next in Japan: There, the “lost decade” of slow growth turned into “lost decades.” A self-reinforcing cycle of low growth and meager demand became entrenched, leaving Japan almost entirely dependent on exports — in other words, on external demand — for even its modest rates of expansion.
It is easy to see Europe falling into the same trap. Low growth gives European consumers little incentive to spend, banks to lend, or companies to invest at home. Europe, in fact, has it worse than Japan in certain respects. High unemployment, never much of an issue in Japan, could suppress the spending power of the European middle class for years to come. Europe also can’t afford to rely on fiscal spending to pump up growth, as Japan has done. Pressure from bond markets and the euro zone’s leaders have forced European governments to scale back fiscal spending even as growth has stumbled. It is hard to see where Europe’s growth will come from – except for increasing exports, which, in a still-wobbly global economy, is far from a sure thing.
This slow-growth trap is showing up in Europe today as low inflation – something else that has plagued Japan for years on end. Deflation in Japan acted as a further brake on growth by constraining both consumption and investment. Now there are widespread worries that the euro zone is heading in a similar pattern. Inflation in the euro zone sunk to a mere 0.4% in July, the lowest since the depths of the Great Recession in October 2009.
Sadly, Europe and Japan also have something else in common. Their leaders have been far too complacent in tackling these problems. What really killed Japan was a diehard resistance to implementing the reforms that might spur new sources of growth. The economy has remained too tied up in the red tape and protection that stifles innovation and entrepreneurship. And aside from a burst of liberalization under Prime Minister Junichiro Koizumi in the early 2000s, Japan’s policymakers and politicians generally avoided the politically sensitive reforms that might have fixed the economy.
Europe, arguably, has been only slightly more active. Though some individual governments have made honorable efforts – such as Spain’s with its labor-law liberalization – for the most part reform has come slowly (as in Italy), or has barely begun (France). Nor have European leaders continued to pursue the euro zone-wide integration, such as removing remaining barriers to a common market, that could also help spur growth.
What all this adds up to is simple: If Europe wants to avoid becoming Japan, Europe’s leaders will have to avoid the mistakes Japan has made over the past 20 years. That requires a dramatic shift in the current direction of European economy policy.
First of all, the European Central Bank (ECB) has to take a page out of the Bank of Japan’s (BOJ) recent playbook and become much more aggressive in combating deflation. We can debate whether the BOJ’s massive and unorthodox stimulus policies are good or bad, but what is beyond argument at this point is that ECB president Draghi is not taking the threat of deflation seriously enough. Inflation is nowhere near the ECB’s preferred 2% and Draghi has run monetary policy much too tight. He should consider bringing down interest rates further, if necessary employing the “quantitative easing” used by the U.S. Federal Reserve.
But Japan’s case also shows that monetary policy alone can’t raise growth. The BOJ is currently injecting a torrent of cash into the Japanese economy, but still the economic recovery is weak. Prime Minister Shinzo Abe finally seems to have digested that fact and in recent months has announced some measures aimed at overhauling the structure of the Japanese economy, by, for instance, loosening labor markets, slicing through excessive regulation, and encouraging more women to join the workforce. Abe’s efforts may prove too little, too late, but European leaders must still follow in his footsteps by taking on unions, opening protected sectors and dropping barriers to trade and investment in order to enhance competitiveness and create jobs.

If Europe fails to act, it is not hard to foresee the region slipping hopelessly into a Japan-like downward spiral. This would prove disastrous for Europe’s young people — already suffering from incomprehensible levels of youth unemployment — and it would deny the world economy yet another pillar of growth.

Wednesday, August 20, 2014

10 Super Simple Ways to Be a Better Writer - TIME

http://time.com/3113141/become-a-better-writer/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

Aug. 18, 2014
    
TheMuse

The written word is king. Time to get more comfortable with it

Congratulations! Because if you work in an office or run your own business, you’re likely to spend about a quarter of your workdaydoing one thing:
Writing.
Oh, and that’s just the portion of your day that you’ll spend writing emails.
That figure doesn’t account for reports, proposals, best practice guidelines, blog posts, Facebook updates, tweets, texts, chapters of your forthcoming memoirs, that TED Talk script you’ve been tinkering with for the last 18 months, and the occasional hand-written “thank you” note.
We live in an era where the written word is King.
And if you’re going to write 40,000+ words this year—at minimum!—you might as well learn how to do your absolute best.
Here are 10 ways to become a better writer, right away.
(The kind of writer whose words get results.)

1. Get Clear

Before you sit down to write (anything), ask yourself: Why am I writing?
What’s the desired outcome that you want with this particular piece of writing?
Are you writing to brighten someone’s morning? Motivate your team to head back into the ring after a crushing defeat? Encourage folks to say “yes” to your new meeting time?
The best writing tends to have one clear, ringing intention. Choose it—and commit.

2. Get to the Point

In the business world, brevity is gold. (Related: Are Your Emails Too Long? Probably)
If you’re struggling to get to the point, take a moment to think about the person (or people) that you’re writing to, and create a roadmap for yourself by filling in the following statements:
The reason I am writing is:
What I want you to know is:
What I want you to do is:
Get those three points down pat. Then refer to them as you write to keep yourself on track.

3. Strip it Down

Albert Einstein once said, “If you can’t explain it to a six-year-old, you don’t understand it yourself.”
Imagine that you’re writing for an audience of little kids—impatient, easily distracted, with zero tolerance for jargon.
You can practice—out in the real world—by having actual conversations with kids. Try explaining to a toddler what you do for a living, for starters. You’ll see, very quickly, if your elevator pitch is clear and intriguing—or not. (If not? Here are my tips for how to tell people what you do—and be remembered.)

4. Write From Your Happy Place

Ever notice how when you’re stressed out and trying to “force” yourself to write something amazing, it almost never works?
Research shows that getting yourself into a happy, relaxed state—think: taking a shower—is the key to creativity-on-command. When your body is experiencing a rush of dopamine, that’s when those a-ha! moments (“Ooh! I’ve got the perfect title for my presentation!”) tend to happen.
Can’t take a shower at work? No worries. There are plenty of other ways to get into your happy place before you sit down to write. Play energizing music, light a scented candle, bounce on an exercise ball—whatever it takes to help you unclench and relax!

5. Give Yourself a Time Limit

For most people, the longer you fuss over a piece of writing, the worse it gets.
When you have a clear reason for writing and feel happy and relaxed (see tip #4), your first draft is usually best. There’s no need to endlessly chew it over.
Clearing out your inbox, for example? Give yourself a time limit—say, two minutes per email—to prevent yourself from slipping into analysis-paralysis.
(You can set up a “smart playlist” in iTunes comprised entirely of two-minute songs, to keep yourself rockin’ along. When the song changes—hit “send” and move on!)

6. Ask, “What Would My Hero Write?”

If you’re struggling with a sensitive piece of writing where hitting the right emotional tone is essential, try channeling one of your personal heroes.
“What would Mister Rogers write in this situation?” “What would the Dalai Lama say?” “How would Richard Branson handle this email chain?”

7. Close Strong

Lost in a sea of never-ending email threads? Questions building upon questions, never leading to decisive action?
Try taking a decisive stance, rather than wrapping up your writing with an open-ended prompt.
Think: “In my opinion, the following approach is the best choice. If you agree, write back to say ‘yes,’ and I’ll get started.”
Not: “So, what do you guys think? I’m open to everyone’s input!”

8. Use the 7 Magic Words

“All I need from you right now.”
Kick these words up to the top of your correspondence, as in:
“I’m so excited that you’re going to deliver a keynote at our annual conference.
All I need from you right now is the title of your talk, a headshot, and your bio.”
These seven magic words give your reader a clear assignment, and put them at ease. (“Ahhh—that’s all? No problem. Done.”)
You can always add more information down below, if necessary (“Here are a few other things to know—for later.”)

9. Say it Out Loud

Whenever possible, read your writing out loud.
Does it sound like it was written by a human being or a cyborg? Are you stumbling over excessively long sentences? Catch any typos or duplicate words? If so, tweak and read it out loud again.
If reading aloud isn’t possible—because you don’t want to disturb your colleagues—try lightly tapping a finger on your desk or thigh as you silently read each word in your head. (It’s bizarre, but it works almost as well as reading out loud.)

10. Be a Daymaker

David Wagner, CEO of Juut Salonspa, often speaks about being a “Daymaker”—not just going through the motions at work, but actively choosing to be a source of positivity and encouragement. Choosing to make someone’s day.
With everything you write—every email, every text, every tweet—you have an opportunity to make someone’s day. (Or not.)
Often, all it takes is a few words of kindness, a thoughtful compliment, or the kind of insightful reminder that leaves people thinking, “Yeah. I needed that.”
Set “Daymaker” as your barometer of success—for your writing, and for everything you do.

Whether your writing is “perfect” or not, your intent will shine through.