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Oct30
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"The things I've done in my life have required a lot of years of work before they took off."
Many times during our business careers, no matter what stage it's at, we start to think things should be going quicker. While there very well be times where we're doing something to hinder our progress, just as many other times it's only the time factor that is stretching things out, and there isn't much to do but keep on working with it.
How many times have we heard that overnight successes are really the culmination of years of work that are suddenly publicly or financially rewarded? It's the public that is made to think it just happened out of nowhere, because they are never around to see the quiet, behind-the-scenes work that always comes before a success. The problem we can have is hearing others in their success, and then forgetting that nothing different has happened with them that happens to all of us: They quietly went about doing their work, until the work of many years suddenly rose up before them and became an "instant" success. His company Apple (AAPL) has been a great example of the practicality of this.
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Oct30
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"Over the years, I’ve observed that nearly all high achievers know how to make good of those 1,440 minutes in each day."This statement by Mary Kay seems obvious, but really, there's more to it than meets the eye. For example,...
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Oct29
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One of the key, former business leaders we talk about here at managersrealm is Jack Welch. Even last post on Welch we talked about how he prepared General Electric (GE) for the global economy he saw emerging, and spent his...
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The American dollar continues to plunge against a number of currencies, as it broke another record low against the euro, and dropped to its lowest level against the Canadian dollar in 47 years.For the euro, went past the $1.44 mark...
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Even though most restaurant companies in the U.S. haven't had a great year, Texas Roadhouse Inc. (TXRH) has had a great quarter, having their earnings increase by 15 percent overall.Overall revenue for the third quarter, grew to $189.5 million, well...
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Inventories were trimmed, bureaucracies dismantled, and inefficiencies attacked with a vengeance.This is a testimony to a great business leader that had to make a decision to do the hard things to not only make the company survive, but thrive in...
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The long-term case against Exxon Mobile Corp. (XOM) concerning the 1989 oil spill off Alaska by the Exxon Valdez, has been taken up by the Supreme Court, as it relates to punitive damages.Originally, the case was centered around the captain...
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Oct28
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With Merrill Lynch & Co. (MER) posting its worst quarter in its 93 year history, the pressure on CEO Stan O'Neal has ended with him deciding to step down from his position. The Merrill board is unanimous on letting him...
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"When you figure something out and make it work, there is pleasure and excitement. Not just because the technology is going to do something, but because you created something with its own inherent beauty, like art, like literature, like music."What...
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Oct27
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"I think that when you invite people to your home, you invite them to yourself."It seems to me when Oprah said what she said above, she had thoughts of her own upbringing, which in her early years was extremely difficult....
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While the agreement between Chrysler and the United Auto Workers has been approved by the union, it didn't come near to the 66 percent that voted the General Motors (GM) contract in.A number of workers at Chrysler were concerned the...
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It's nothing new to see people that get enamored with a company completely neglect their faults and only see their strengths. That seems to be the case with Google (GOOG).One writer recently said concerning the company: "If you're an investor,...
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Oct26
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"I just owe almost everything to my father and it's passionately interesting for me that the things that I learned in a small town, in a very modest home, are just the things that I believe have won the election."Margaret...
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"The best way to predict the future is to create it."This is one of my favorite quotes by Peter Drucker, or anybody for that matter. It reminds me of something said by Steve Jobs, CEO of Apple (AAPL), when he...
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With another teacher being charged for having sex with an underage teen, it brings to mind the need for those in authority to take their positions much more seriously, while understanding the responsibility that goes with being in a leadership...
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Oct25
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"Be humble - success is reversible."To me there's something strong within and about a person that can take success in stride, and not have it change who they are. I think that "ability," or whatever you want to call it,...
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In response to a terrible performance in the third quarter, Bank of America (BAC) is getting out of the wholesale mortgage business, cutting down on investment banking and getting rid of about 700 jobs there. The 700 job cuts are...
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Using a model that is similar to online retailer Amazon.com (AMZN), Wal-Mart (WMT) is entering the online grocery market via its Sam's Club warehouse store.In preparation, Sam's Club is increasing the number of non-perishable items it offers, including non-food items like...
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Forget about Mexico and "South of the Border," the Canadian dollar reaching par with the U.S. dollar offers all sorts of opportunies on both sides of the snow ridge to make some money.A lot of big companies on both sides...
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Ben Mezrich, who wrote "Bringing Down the House," which became a New York Times (NYT) bestseller, has released a new non-fiction offering "Rigged."Even though Mezrich's "Bringing Down the House" started slow, it did pick up and become very compelling over...
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Oct24
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“We can afford to lose money – even a lot of money. We cannot afford to lose reputation – even a shred of reputation…It takes 20 years to build a reputation and five minutes to ruin it.”From the comment of...
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"The emphasis at sales parties was on teaching about her products rather than trying to sell them."To me one of the great underutilized methods of selling is in teaching about our products. Rather than attempting to make someone make a...
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The agreement to buy a 1.6 percent stake in Facebook by Microsoft (MSFT) for $240 million, to me, underscores a weakness in Microsoft that they have to come to terms with.They are paying huge amounts of money for companies or...
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With the World Series starting tonight between the Boston Red Sox and Colorado Rockies, it made me reflect on one of the things that makes business leadership and management so fulilling: the accomplishment of our people.If nothing else, a truly...
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Oct23
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The Canadian finance minister Jim Flaherty, urged wholesalers and retailers in the country to consider lowering their prices now that the Canadian dollar is stronger than the U.S. dollar.Flaherty held up a book bought in the U.S. as an example,...
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"Through the 1980s, Welch barnstormed through GE shutting factories, paring payrolls, and hacking mercilessly at its lackluster old-line units."There are two important aspects of why Jack Welch did what he did above. While it wasn't an easy task to execute,...
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As the result of strong Mac and iPhone sales, Apple Inc. (AAPL) closed at an all-time high Tuesday, gaining close to 7 percent. The tech giant reporting a leap in earnings of 67 percent in the fourth-quarter of its fiscal...
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Amazon.com (AMZN) exploded in growth, as third quarter earnings surged over last years' same period.For the quarter ending September 30, the company net income grew to $80 million, equal to 19 cents per diluted share. That's a huge 313 percent...
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The fires raging across California point to something businesses with physical structures need to consider strongly, and that is how to approach and be prepared for major disasters. We have to keep in mind that there is no way we...
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Oct22
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Dell (DELL) is expanding its reach in physical stores, as it now has an agreement in place with office supply retailer Staples (SPLS) to sell Dell computers, monitors and printers at their 1,400 store across the U.S. Dell has been moving...
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"Denial can blind."This is a simple concept that has powerful ramifications. Denial can not only blind, it is a state of wanting to be blind.The very nature of denial is not wanting to have to deal with reality, or what...
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No matter what we're doing in our businesses, when we offer special incentives, discounts or serve unique circumstances, we must have plans in place to handle higher than expected surges in customers and buying. Paciolan and Major League Baseball failed...
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The arrest of Nathaniel Marston for attacking three men with a crate, resulted in him being charged with "second-degree assault, reckless endangerment, menacing and resisting arrest."Martson is a soap opera star on "One Life to Live," on ABC.I bring it...
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The "Open Content Alliance" is an initiative by libraries to offer their books to be scanned online and presented in digital form. Other organizations like Google (GOOG), Microsoft (MSFT) and Yahoo (YHOO) have already been pursuing this field in hopes of...
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Oct21
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Through the power of media, Oprah Winfrey has created an unparalleled connection with people around the world.One of the more amazing things, among many, that comprises what Oprah represents, is her ability to connect with people and empathize with them....
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"Being prime minister is a lonely job... you cannot lead from the crowd."In spite of what seems like an endless number of business articles and posts on consensus and other disempowering ideas, the great leaders of history have never become...
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With Wal-Mart (WMT) focusing again on its strength of low prices and timely discounts and price cuts, some are thinking they may start appealing to more middle-class shoppers than in the past.Citing an article in Barron's, a Reuters report said...
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The quarterly reports of US banks seem to reveal that the sub-prime mortgage problems have extended beyond the high-risk loans they represent.Another reality is the $6 billion in reserves added by banks during the second quarter; more importantly, the reserves...
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The Foundation of a Great Learning OrganizationWe talked about the importance of an organization being a learning and teaching vehicle for our people in a past post on Drucker. This time we'll look at a simple aspect of teaching and...
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Oct20
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The ratification of the agreed upon contract with Chrysler has come to a rocky road, as three more local unions have rejected the contract.Those voting against it were, Local 1183 at Chrysler's Newark, Del., Local 122, which represents 1,515 workers...
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"See the competition as an invigorating challenge."One of the greatest assets and benefits of capitalism is the engendering of competition. A large number of business owners and leaders fear rather than embrace competition. Competition ensures we will stay honest in...
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Oct19
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The write-downs of banks because of the credit markets continue to make a big impact on the industry, as the nation's fourth largest bank, Wachovia Corp., ended the third quarter with profits plunging by 10 percent. Losses and write-downs finished...
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Yet another toy recall has happened, as Wal-Mart (WMT) discovered an excessive amount of lead in some of its toy animals, as it steps up its testing of toys. The toy animals were made in China. Wal-Mart discovered the excessive...
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After receiving 11 reports of broken pirate swords, Gymboree (GYMB) decided to recall the toys voluntarily. The company sold about 6,000 units before the recall. There haven't been any reports of injury from the toys, but they have been deemd...
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The International Monetary Fund predicts that for the first time in modern history, China will add more to global economic growth than the U.S.Half of all global economic growth has been attributed to India, Russia and China already this year.The one unknown...
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The upstart Fox Business Network and upcoming closing of the acquisition of Dow Jones & Co. (DJ) will take some time and patience to bring about the desired results, said News Corp. (NWS-A) chairman and CEO Rupert Murdoch at the...
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"The best ideas are the obvious ones."Over the years I've seen a lot of people in business who believe the more complex and complicated an idea is, the more successful it will be. As Buffett says here, it's not usually...
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Oct18
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In a not-too-secret deal, former CNBC (GE) anchor Liz Claman started her stint with the new Fox Business Network, making her debut Thursday.Rumors had been swirling for some time when she left CNBC, and her non-compete clause ended right after...
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"The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything." At the time Steve Jobs had been very publicly pushed out of Apple (AAPL), it caused him to question everything he...
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“A laurel rested upon becomes wilted.”This is a saying that Mary Kay Ash would always repeat, as she was committed to change. The one factor she knew she could rely upon was there was going to alway be constant change...
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One of the more unique and successful group of entertainers in history was "The Rat Pack." They were a group who included Joey Bishop, Sammy Davis Jr., Dean Martin, Frank Sinatra and Peter Lawford. The last of the "Pack," Joey...
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Sponsored Review Business managers now have a great tool to aid them in managing their customers better. Aimpromote is made to help businesses take the pain out of managing customers, sales and the sales process. Managers and sales managers are...
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Oct17
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"Shun the incremental, and look for the quantum leap."We have to realize when Welch made this statement, he was the leader of the largest company in the world. Even now the foundation he laid makes the General Electric (GE) number...
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The growing interest in preventing the staph germ is something most businesses will need to take a close look at. In the past, most of this has been related to hospital visits or being under medical care of some sort....
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Oct16
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With oil rising to a record $85 a barrel, Petrochina (PTR) has surged in recent months to become the second-largest company in the world, behind only Exxon Mobil (XOM). The state-owned oil company is now worth $434 billion, while General...
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"Put common sense on a pedestal." Andy Grove couldn't stand pretension and putting people on a pedestal, including himself. Grove originally had no intentions of being a manager or CEO of Intel (INTC), he was put in the position by...
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The former Elana Elbogen, now Elana Glatt, has filed a lawsuit on behalf of her mother-in-law, husband David Glatt and herself, alleging the florist for her wedding was in breach of contract because they provided flowers of the wrong shade. Elena...
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The discovery that it's Boss's Day today, made me wonder if it's a day us business leaders look forward to, or are even aware of.I think it's a good time to pause and examine how our people view us as...
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Oct14
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"We are each responsible for our own life - no other person is or even can be."In this opening statement in our series on Oprah Winfrey, we see why she reached success: She refused to allow any excuses to get...
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By late 1990, the Cold War was over and free markets and institutions vindicated.Margaret Thatcher played a big role in the end of the cold war, along with ally and close friend, U.S. President Ronald Reagan.An amazing thing concerning all...
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The difference between Tom Brady and Peyton Manning as brands is enlightening as far as business branding, and branding of products or services go.For Tom Brady, he represents that perfected type of success, something other successful people relate to, but...
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At the instigation of the Treasury Department, some major banks are getting together to establish a fund of about $80 billion to shore up the commercial paper market, which is backed up by assets. They could announce the partnership as soon...
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Oct13
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Approximately 30 million homes will have the opportunity to tune in to the Fox Business Network (NWS-A), which is set to launch Monday at 5 a.m. EDT. When Neil Cavuto describes who their audience is, he says: "When someone asks...
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"My greatest strength as a consultant is to be ignorant and ask a few questions."In a number of different ways, great business leaders have said something similar to Drucker's above comment.Sometimes it's mentioned as being objective, acting like you're not...
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Biogen Idec Inc. (BIIB) announced it has put itself on the block, as shareholder activist Carl Icahn has been buying up shares in the company and received permission in August to buy up even more.For 2006, the company had a...
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Oct12
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"Move with a sense of urgency."To move with a sense of urgency, as Kelleher admonished, you have to understand what a healthy sense of urgency is.Simply being in a hurry to get something done, or feeling pressured to do anything,...
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General Electric (GE) had good news coming almost out of every division, as earnings for the third quarter increased by a strong 14 percent. The only category the company dropped in was their health care unit."GE delivered a solid quarter...
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The announced bid by Oracle (ORCL) for BEA Systems (BEAS) makes me pause some and wonder about the reasons behind it. We talk about the reasoning indepth here.One thing I want to mention is why they're doing it in reference...
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In an interview on the freakonomics blog, Craig Newmark the founder of Craigslist and Jim Buckmaster its CEO, were asked a question on making more money for the purpose of donating it to non-profits, charities or other causes.I like their...
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Oct11
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American companies heard good news as exports reached their highest level ever, fueled by the falling dollar. Leading the export surge were consumer goods, farm products and industrial supplies. The overall increase in American exports was at 0.4 percent, which...
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In spite of overall softness in the retail sector, Wal-Mart Stores (WMT) raised its third-quarter outlook, even though September's sales were short of original estimates.The thought was the store would bring a profit of between 66 cents and 69 cents...
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Doris Lessing won the Nobel Prize for literature, and her immediate response when being told was: "Oh Christ ... I couldn't care less." An American literary critic, Harold Bloom said concerning the decision, that it was "pure political correctness."When you...
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Oct10
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“You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be.”The ability to explain what we're doing and why, is vital to business leadership success....
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At their annual shareholder meeting, Proctor & Gamble (PG) CEO A.G. Lafley said the company will focus on personal care and beauty categories to spur higher growth in the future.Lafley said he believes the company can extend its reach by...
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A special alternative high school in Cleveland was under seige today by a lone gunman who opened fire on students and teachers. Three students and two adults were injured during the shootings, with the gunman evidently killing himself after the...
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The strike by the United Auto Workers union against Chrysler may be shorter than the two-day strike against General Motors (GM), as sources from both organizations have confirmed a tentative agreement on a new labor deal has been reached.Only an...
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Oct 9
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"You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future." We've probably heard all the time that hindsight is the easiest way...
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After a fairly quiet time after her ouster from Hewlett-Packard (HP), Carly Fiorina is back in the news as she's been enlisted by the upcoming Fox Business Network (NWS-A) to be a contributor to the new business channel. The channel...
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"It is far better to be exhausted from success than to be rested from failure."Mary Kay was talking about the difference between those who succeed and those who fail, when making the statement above, and those willing to go the...
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Oct 8
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A poll of 769 CEOs from 40 countries, found that great execution was the No. 1 concern for the year. The Conference Board report, CEO Challenge 2007: Top 10 Challenges, included 121 different challenges CEOs faced.The top concern last year,...
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Continuing on with our look at management lessons Roger Ailes learned from his colleague and friend, Chet Collier, we'll now look at what he feels was his most important job in relating to his people.The first thing Ailes said he...
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In a transcript of an interview on the Online Wall Street Journal with Fox News President Roger Ailes, he offers some of the more important managment lessons he learned from his colleague and friend Chet Collier, who recently passed away....
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Miller Beer has made one of the biggest mistakes of their existence as the they sponsored the orgiastic, filthy "Folsom Street Fair" recently.The "Fair" featured mostly homosexuals performing sex acts publicly, with S&M being part of the experience. As the...
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The pathetic behavior by schoolteacher Melinda England in putting her partial nude pictures up on MySpace and other sites show a complete lack of common sense and professional behavior.People coming out with the lie that what you do on your...
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Oct 7
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Lock in your best customers, while locking out your competitors!At a time when domestic revenue growth was sliding, and General Electric (GE) was still in the middle of expanding internationally, the company convinced one of their big customers, health-care giant...
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"Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes."Peter Drucker's statement above helps a lot of people understand what seems like anomaly's and uncertainty in business leadership, as many times effective leaders...
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One of the world leaders in business software, SAP of Germany, announced it has come to an agreement with Business Objects of France to buy them out for $6.8 billion (4.8 billion euros).SAP will pay $53.4 dollars per share in...
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"Recognize and encourage individuality."There are times when we hear a lot of talk and conversation in business about teams and team building, that the value of the individual can be lost. In truth, a team is really the end result...
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Oct 6
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"Hard times give you the courage to think the unthinkable."There can be three major responses to going through hard times in a company; you can either give up, do things the same way you've done them in the past, or...
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The Labor Department reported Friday that the 110,000 new jobs were created in September, while numbers for July and August were revised upward by 118,000.This will be good news for the upcoming Holiday season, as a solid jobs market should...
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In 2005, Movie Gallery (MOVI) got into a big battle with Blockbuster (BBI) over the acquisition of Hollywood video. Blockbuster must be secretly thanking their lucky stars on losing the bid. Since paying out $1 billion for the company, Movie...
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Any business is dependent on its success from its core customer base. The majority of decisions we make should be connected to making sure they're served well above anything else.The "Best of Both Worlds" tour by Hannah Montana star Miley...
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Oct 5
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"He was simply describing his own life, his experiences, what he's observed works and doesn't work in business and investing." This was the reaction to Warren Buffett when a group of students and professors joined him in Omaha for a...
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The strange case of the hoax police call that resulted in the strip-search of Louise Ogborn has resulted in Ogborn being awarded $6.1 million from the jury. She had been seeking $200 million. In a weird ruling, the assistant manager who...
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Citing credit and mortgage problems, Merril Lynch (MER) said on Friday it would suffer a third quarter loss, having to write down close to $5 billion as a result of the credit problems over the summer.The large portion of the...
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Last post we talked about managing high-profile employees, and not long after posting, another case has arisen involving Richard and Lindsay Roberts, along with Oral Roberts University.Three former professors of the university have sued Richard Roberts and the college alleging...
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Harrassment of any kind can happen at any company at any time. Having said that, when we have high-profile people in our companies, we need to be extra careful in managing and watching over their words and actions.The cases against...
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Oct 4
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A recent survey by Ipsos says that business executives consume quality business information in a huge way.The study, which was conducted from February through July 2007, received 2,390 responses from companies with, for the most part, over 250 workers and...
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The Marion Jones doping scandal is a tough lesson concerning integrity. We talk a lot here at managersrealm about the need to work and walk in absolute integrity in all aspects of our lives, including business.One thing I want to...
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Louise Ogborn is suing McDonalds for $200 million in damages after being told to remove her clothing and be strip-searched by assistant managers on the basis of someone calling in and telling them they were a police officer.It was related...
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Russia's celebration of the 50th anniversary of the launch of Sputnik shows an amazing amount of similarities to the way the business world has changed over the years.The first thing I think of, is the statement that Russian President Vladimir...
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Oct 3
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It's been amazing to see all the companies that claimed they were so concerned about Rupert Murdoch and his interference in the editorial integrity of the properties of Dow Jones & Co. (DJ) - especially the Wall Street Journal - when...
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How do you manage a company from being a one-time market leader, crushing their competition, to a company that has become a follower and only reacts to other companies' new products in the marketplace? That's the problem Steve Ballmer faces...
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Verizon's (VZ) newest offerings in the cell phone space look interesting and will offer something across the spectrum of consumers. They're getting the most buzz from announcing their LG Voyager will be an Apple iPhone (AAPL) killer. A bold statement...
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Oct 2
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Wal-Mart (WMT) has cleared the final regulatory hurdles in Mexico, and will could open branches as quickly as November, said the stores Mexico division. The new Wal-Mart bank will operate under the name Banco Wal-Mart de Mexico Adelante.In a press...
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"Look, our company’s too complicated."These were almost the first words out of Steve Jobs mouth when he returned to Apple (AAPL) after being ousted from the company.I've been hitting on this a lot lately because many business leaders and managers...
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“I believe that most successful people are ordinary people with extraordinary determination.”From my observations and experience, I find Mary Kay's comment above absolutely true. If you go around and meet people successful personally, financially or in business, you'll find they're...
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"Speed, simplicity and self-confidence are closely intertwined."If you want to destroy great people in your company, make things complicated; it's a sure recipe for destruction. Simplicity is the order of the day, and a prerequisite for speed.While speed in business...
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In what is being hailed as a preparation for "a fierce battle with The Wall Street Journal over business readers and online advertising revenue," the Financial Times is offering general visitors a chance to read their content free.The specifics of...
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The way McDonalds, (MCD) has managed their popular Monopoly Game promotion has brought extraordinary results for the company.They've begun their newest promotion this year, and it looks like it'll be as big a hit as ever.On average, over the last...
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Oct 1
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Like I've talked about on a couple other blogs today, there's a huge market for products and services targeting families and those who want wholesome entertainment, as the "High School Musical" brand reveals.One of the problems in managing a show...
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Wal-Mart (WMT) isn't waiting around to see what their competitors are going to do, they're already going to start cutting prices on some of the best-selling toys, two weeks before normal. The retail giant will start cutting prices on what...
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Last post we talked about the band Radiohead taking charge of their careers and making moves that will benefit them and their brand.When you consider Britney Spears and her meltdown, which has now culminated in losing physical custody of her...
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I like the decision by Radiohead to take charge of their own destiny. In 2005, the popular band left its old label EMI, and haven't signed up with anybody. They've decided to try to market their new album In Rainbows...
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