Tag Archive | "week"

What To Expect From The 2011 Venice Biennale

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via guestofaguest.com: This being an odd numbered year, about 300,000 art lovers are set to gather in Venice, Italy for the the 2011 Venice Biennale. The tremendous bi-annual (dur) contemporary art exhibition begins this week and we have the all the details on what to expect from this year’s event. MORE>>

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Solar: Japan ‘Sunrise’ Targets Panel Expansion

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Nice bit of news for solar energy technology vendors: Japan’s prime minister Naoto Kan is expected at this week’s meeting in France of the Group of Eight leaders to unveil the “Sunrise Plan” to extend installation of solar panels to all of Japan’s rooftops, for eligible buildings and homes, according to a report today by Kyodo News. The time frame is by 2030, the report says.

Article courtesy of Tech Trader Daily

Gone Fishing

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Dear readers, I will be on vacation all this week. While I’m away, you’ll be in the capable hands of my colleague Teresa Rivas. Enjoy, and I’ll see you in a week.

Article courtesy of Tech Trader Daily

Glencore Employees Wouldn’t Know A Good Cult If A Hyena Was Serving It To Their Wildebeest Ass On A Silver Platter

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Later next month, Glencore will go public in an IPO that is expected to raise as much as $11-12 billion, giving the commodities firm a potential market value of between $55-73 billion. It’s multiple exclamation point exciting, not unlike Fortress’s hernia-inducing IPO of 2007. As part of the buildup to the big event, there’s been a demand for insight into how Glencore, founded in 1974 by Marc Rich and currently run by Ivan Glasenberg, got to where it is today and what it looks like on the inside. One theory currently being floated is that it’s a cult.

Here’s how some current and former employees, plus people who’ve never worked at Glencore have come to that conclusion:

* People have to work hard; they’re rewarded for performance “It’s very hard work, very intense. You’ve got management teams which establish a culture of high performance among the key personnel, and high incentives,” said Henri Alexaline, senior credit analyst at BNP Paribas in London.

* Long-ish hours are involved, partying all the time (during the week) is not A person who has experience working with Glencore said: “I generally worked 10-12 hours a day. The assumption is glam parties in the evenings … but the reality of the daily stresses means I rarely went out in the week.”

* You might get a work-related email while not at work The person said that staff carried laptops and Blackberries while on holiday, logging on to answer 400-500 emails and being on call 24/7.

* The job often involves business trips “It involves a lot more traveling, and their private life takes a back seat.”

* The CEO is charming and also wants employees to make the firm money “He’s a very charismatic guy. I don’t think I can recall anybody that hasn’t been very taken with him when they meet him. He’s very driven, but very approachable and down-to-earth,” the second outsider said. While Glasenberg can have a fiery temper when things go wrong, he also inspires strong loyalty from his traders, who are hired young and expected to make a career at the company.

While the above don’t strike us so much as red flags of a cult as what you could expect working at any major financial institution serious about making money, there is this, which gives gives hope that with a little more effort, Glencore *could* ascend to cult status if it really put its mind to it.

“If you make a mistake and you’ve lost them money, then the whole company will ridicule you because they send these multi-chain emails around,” the first source said. “They learn to be really, really careful, because the whole company will laugh at you and you’ll lose your bonus.”

Clearly someone on the inside knows of the power of getting past one’s ego in pursuit of the truth.

Only Toughest Thrive In Glencore’s Trading Culture [Reuters via BI]

Related: Bridgewater Associates: Be The Hyena. Attack The Wildebeest



Article courtesy of Dealbreaker

Caption Contest Tuesday: Lisa Marie Falcone Defies The Rules

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One of our favorite hedge fund wives wears white before Memorial Day at this week’s Tribeca Ball.



Article courtesy of Dealbreaker

Lawson Rising: Oracle May Bid, Analysts Say

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Shares of Lawson Software (LWSN) are higher by 34 cents, or 3%, at $12.09, following analyst reports late yesterday saying the company may be an M&A target of Oracle (ORCL) following a bid on March 11th by privately held enterprise software firm Infor and private equity firm Golden Gate Capital.

An article by Bloomberg’s Tara Lachapelle late yesterday notes that Oracle could be interested in Lawson’s medical records and supply chain management software.

I would note that Lawson’s management was scheduled previously to visit Barron’s this week and canceled yesterday afternoon.

Article courtesy of Tech Trader Daily

Rachelle’s Reading List, Wednesday, March 9th, 2011

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via guestofaguest.com: Today is Ash Wednesday. And, despite popular belief I was born and raised Catholic, not Scientologist. Alas, I will let you in on what I’m giving up for Lent this year. Then THE MOST EXCITING THING OF THE WEEK happens. We launch some new sites. Click below for all the answers…. MORE>>

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Amazon: Bully For Web Services, Says Lazard

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Here’s a data point for you: The number of “objects” that are stored in Amazon.com’s (AMZN) cloud computing service, Amazon Web Services, or “AWS,” will surpass one trillion by the end of 2012, up from 262 billion objects last year, writes Lazard Capital’s Colin Sebastian today in a note to clients.

Sebastian takes his cue from Amazon’s presentation this week at a conference, CloudConnect. Despite rising competition from Google (GOOG), Rackspace (RAX), Microsoft (MSFT) and others, Amazon is still a leader in cloud computing, he thinks, with perhaps as much as $500 million in revenue from AWS this year.

Given the “long-term growth trajectory” for Amazon, Sebastian reiterated a Buy recommendation and a $220 price target.

Amazon’s shares today are up 22 cents at $167.11.

Article courtesy of Tech Trader Daily

RIM, Handset Makers Talk NFC, But Whose Payments?

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Ticonderoga Securities analyst Brian White this morning writes that his tour of the Mobile World Congress in Barcelona this week shows plenty of momentum for so-called “Near Field Communications,” or NFC, a short-range networking technology that would allow for things such as using a phone for contactless payments.
Research in Motion [...]

Article courtesy of BARRONS.com: Tech Trader Daily

Did Lauren Conrad Discover A Banksy? Is He Even Real?

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With the Oscars less than two weeks away, two new graffiti pieces believed to be the handiwork of Banksy pop up in L.A. this week. How serendipitous that one featuring a crayon-shooting boy just happened to be discovered by Lauren Conrad who must have been taking a breather from the daily[...]

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