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November 30, 2009

Dubai’s Meltdown; The Biz Behind This Year’s Hottest Toy

Filed under: Start A Business — Life Motivation @ 7:41 pm

Meltdown in Dubai? The boom that put indoor ski slopes in the desert and man-made islands in the Persian Gulf looks to be coming to an end. Over the Thanksgiving weekend, Dubai World, a state owned company controlled by the city-state, announced that it would stop paying back its debts. The Wall Street Journal has the news and says that the United Arab Emirates has not yet promised to bail out the faltering company. Zachary Karabell has a thoughtful analysis of the situation: “What led to Dubai’s rise was a vision of Arab entrepreneurialism, easy credit, and anything-is-possible attitude,” he writes, predicting that the oil rich nations, which use Dubai’s malls and nightclubs as a playground, will ultimately bail it out. “Even a doomsday scenario for Dubai‚ ‘complete default‚’ wouldn’t be a global disaster,” he predicts.

What is the going rate for “10 lords a-leaping?” Any romantic out there with the notion of giving their true love the gifts mentioned in the Christmas carol “The Twelve Days of Christmas” should be prepared to fork over some serious cash. As the <a rel=”nofollow” target=”_blank” href=”http://www.chicagotribune.com/business/sns-ap-us-twelve-days-cost,0,7124235.story”>Chicago Tribune reports, financial firm PNC Wealth Management did a cost analysis of the items mentioned in the song and the total came out to a staggering $87,403. PNC, which has been doing the study since 1984, checks jewelry stores, dance companies, pet stores and other sources to figure out the price of everything from a partridge in a pear tree to 12 drummers drumming. Surprisingly, this year’s cost increased less than one percent, or a mere $794, from last year’s cost of $86,609. PNC attributes the modest increase to lower energy costs and fewer wage increases. The 43 percent rise in the cost of gold accounted for the largest price increase, as the five gold rings went from $150 to $500. The most expensive item in the song? Nine ladies dancing topped the list with a cost of $5,473 per performance.

How to Kill a Great Idea. In July 2008, TechCrunch founder Michael Arrington announced that he was looking to build a low-cost tablet PC meant for web surfing. But today he writes that “the entire project self destructed over nothing more than greed, jealousy and miscommunication.” Here’s his take on the messy divorce surrounding the CrunchPad.

Indian entrepreneurs find you can’t go home again. In the next five years, 100,000 “returnees” will move from the U.S. back to India as part of the “desi diaspora,” drawn in part by India’s booming economy. But for entrepreneurs steeped in Western business education, returning home is proving difficult, reports the <a rel=”nofollow” target=”_blank” href=”http://www.nytimes.com/2009/11/28/business/global/28return.html”>New York Times. Harvard’s Vivek Wadhwa reports that 34 percent of repats found it difficult to return to India (as opposed to only 13 percent of Indian immigrants who had difficulty settling in the U.S.) Cultural ties, says the Times, “are overshadowed by workplace cultures that feel unexpectedly foreign, and can be frustrating.” The problem is compounded by the fact that they “look Indian but think American,” a managing partner at global executive search firm tells the Times.

The company behind this season’s “must-have” toy. As any parent with a young child already knows, this year’s surprise “must-have” toy is the Zhu Zhu Pets toy hamster. Yahoo News has an interesting profile of the company behind this latest fad, a small firm called Cepia Inc. of St. Louis, which has just 16 employees in the U.S. and 30 in China. As one mom interviewed in the story explains, these tiny robotic hamsters are now “more scarce than an H1N1 vaccine.” The furry hamsters retail for about $10, but their scarcity has led them to pop up on eBay and Craigslist for around $40. Toy industry vet Russ Hornsby started the 6-year-old company when he was 56, and the company has recently had to add three more factories in China in an attempt to meet the demand. A lot of factors have contributed to the Zhu Zhu Pets massive popularity, but some of it can be traced to Cepia’s savvy marketing strategy which got the word out on the hamsters through a mix of local cable ads and parties thrown by “mommy bloggers.”

One way to boost your brand? Open up your API to outside developers. Netflix users looking for a good movie to watch tonight can visit Instantwatcher, which highlights critics picks from the New York Times hidden in Netflix’s streaming movie catalog. But Netflix isn’t the one that created the application to make life easier for their members, reports AdAge . The app was created after Netflix opened up its API. An open API is an interface that gives third-party software access to your data or code. Then those third parties can mash up your data (pulling in data from another source, say the New York Times) and build new tools on top of it. Netflix isn’t the only one, Twitter’s success is often credited with opening up its API, which spurred a solar system of third party apps around its service, like Twidroid for Android or Tweetdeck on Adobe Air. Geoff Bremner, the CEO of Modern Climate, who’s worked with Best Buy’s open API likens it to “a wall full of electrical outlets, each with a label: customer data, pricing data, inventory. We can just plug into that and we don’t have to talk to anyone in IT at Best Buy.” Adds AdAge, “In some ways, opening up APIs means tapping into an army of technologists.” We said the same thing when we wrote about how Etsy uses its open API to entice developers to work for free.

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Dubai’s Meltdown; The Biz Behind This Year’s Hottest Toy

Filed under: Start A Business — Life Motivation @ 7:41 pm

Meltdown in Dubai? The boom that put indoor ski slopes in the desert and man-made islands in the Persian Gulf looks to be coming to an end. Over the Thanksgiving weekend, Dubai World, a state owned company controlled by the city-state, announced that it would stop paying back its debts. The Wall Street Journal has the news and says that the United Arab Emirates has not yet promised to bail out the faltering company. Zachary Karabell has a thoughtful analysis of the situation: “What led to Dubai’s rise was a vision of Arab entrepreneurialism, easy credit, and anything-is-possible attitude,” he writes, predicting that the oil rich nations, which use Dubai’s malls and nightclubs as a playground, will ultimately bail it out. “Even a doomsday scenario for Dubai‚ ‘complete default‚’ wouldn’t be a global disaster,” he predicts.

What is the going rate for “10 lords a-leaping?” Any romantic out there with the notion of giving their true love the gifts mentioned in the Christmas carol “The Twelve Days of Christmas” should be prepared to fork over some serious cash. As the <a rel=”nofollow” target=”_blank” href=”http://www.chicagotribune.com/business/sns-ap-us-twelve-days-cost,0,7124235.story”>Chicago Tribune reports, financial firm PNC Wealth Management did a cost analysis of the items mentioned in the song and the total came out to a staggering $87,403. PNC, which has been doing the study since 1984, checks jewelry stores, dance companies, pet stores and other sources to figure out the price of everything from a partridge in a pear tree to 12 drummers drumming. Surprisingly, this year’s cost increased less than one percent, or a mere $794, from last year’s cost of $86,609. PNC attributes the modest increase to lower energy costs and fewer wage increases. The 43 percent rise in the cost of gold accounted for the largest price increase, as the five gold rings went from $150 to $500. The most expensive item in the song? Nine ladies dancing topped the list with a cost of $5,473 per performance.

How to Kill a Great Idea. In July 2008, TechCrunch founder Michael Arrington announced that he was looking to build a low-cost tablet PC meant for web surfing. But today he writes that “the entire project self destructed over nothing more than greed, jealousy and miscommunication.” Here’s his take on the messy divorce surrounding the CrunchPad.

Indian entrepreneurs find you can’t go home again. In the next five years, 100,000 “returnees” will move from the U.S. back to India as part of the “desi diaspora,” drawn in part by India’s booming economy. But for entrepreneurs steeped in Western business education, returning home is proving difficult, reports the <a rel=”nofollow” target=”_blank” href=”http://www.nytimes.com/2009/11/28/business/global/28return.html”>New York Times. Harvard’s Vivek Wadhwa reports that 34 percent of repats found it difficult to return to India (as opposed to only 13 percent of Indian immigrants who had difficulty settling in the U.S.) Cultural ties, says the Times, “are overshadowed by workplace cultures that feel unexpectedly foreign, and can be frustrating.” The problem is compounded by the fact that they “look Indian but think American,” a managing partner at global executive search firm tells the Times.

The company behind this season’s “must-have” toy. As any parent with a young child already knows, this year’s surprise “must-have” toy is the Zhu Zhu Pets toy hamster. Yahoo News has an interesting profile of the company behind this latest fad, a small firm called Cepia Inc. of St. Louis, which has just 16 employees in the U.S. and 30 in China. As one mom interviewed in the story explains, these tiny robotic hamsters are now “more scarce than an H1N1 vaccine.” The furry hamsters retail for about $10, but their scarcity has led them to pop up on eBay and Craigslist for around $40. Toy industry vet Russ Hornsby started the 6-year-old company when he was 56, and the company has recently had to add three more factories in China in an attempt to meet the demand. A lot of factors have contributed to the Zhu Zhu Pets massive popularity, but some of it can be traced to Cepia’s savvy marketing strategy which got the word out on the hamsters through a mix of local cable ads and parties thrown by “mommy bloggers.”

One way to boost your brand? Open up your API to outside developers. Netflix users looking for a good movie to watch tonight can visit Instantwatcher, which highlights critics picks from the New York Times hidden in Netflix’s streaming movie catalog. But Netflix isn’t the one that created the application to make life easier for their members, reports AdAge . The app was created after Netflix opened up its API. An open API is an interface that gives third-party software access to your data or code. Then those third parties can mash up your data (pulling in data from another source, say the New York Times) and build new tools on top of it. Netflix isn’t the only one, Twitter’s success is often credited with opening up its API, which spurred a solar system of third party apps around its service, like Twidroid for Android or Tweetdeck on Adobe Air. Geoff Bremner, the CEO of Modern Climate, who’s worked with Best Buy’s open API likens it to “a wall full of electrical outlets, each with a label: customer data, pricing data, inventory. We can just plug into that and we don’t have to talk to anyone in IT at Best Buy.” Adds AdAge, “In some ways, opening up APIs means tapping into an army of technologists.” We said the same thing when we wrote about how Etsy uses its open API to entice developers to work for free.

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Letter From a Proud Mother

Filed under: Life Examples — Life Motivation @ 4:00 pm

[A touching essay in 'Inquiring Mind', by Rev. Heng Sure's mother.]

After my son Christopher Clowery’s ordination with Ch’an Buddhist Master Hsuan Hua, he and a fellow monk made an 800 mile "three steps, one bow" pilgrimage up the California Costal highway, from Los Angeles to City of 10,000 Buddhas, north of San Francisco to promote world peace. They made a full prostration to the ground every three steps. This spiritual journey took two years, nine months to complete. For those years and three more Heng Sure (as my son was now called) kept a vow of silence, speaking aloud only to his teacher, Master Hua.  I had not received any letters from him for five years because his vow of silence also included correspondence by mail. Therefore, it was with a great deal of anticipation that I flew from Ohio to California for a visit with my son when Master Husa, the abbot of the City of 10,000 Buddhas, invited me to celebrate my sixty-first birthday with Heng Sure.

As a lifelong Methodist (Heng Sure had been an active Methodist in his younger years as well), I was eager to learn all I could about the religion that had captured my son’s interest so completely that he had dedicated his life to it.   I had never doubted Heng Sure’s sincerity, but it was the era of cults and I was skeptical about whether the abbot’s motives were altruistic; many other movements were not sincere.

As I drove through the impressive red, pagoda-roofed gates of the City of 10,000 Buddhas with Fang Guo Wu, the laywoman who had picked me up at the airport, I felt as one does when approaching a foreign country; I knew I wouldn’t understand everything that was said or done, and I didn’t know what was expected of me. Up the hill from the gate I could see a large bronze sculpture of a Buddha under a high roof and beside it, an enormous bronze bell.

In the dining hall, the Abbot sat on a raised platform in the center of one wall with about twenty five monks and as many male guests to his left and about fifty nuns and female guests to the right. The Abbot was a stocky man in a gold-colored robe. His face was unlike anyone I had ever met. His expression was one of compassion that was guileless, yet wise. After getting acquainted with him, I had the eerie feeling he knew what I was thinking.

At the first dinner, we ate our meal in silence. I discovered it allowed me to concentrate on the food in a way conversation prohibits. Buddhists not only savor each nuance of flavor, they contemplate the work it took to bring the food to the table. They consider whether their conduct merits receiving it, and how greed is a poison to the mind. They think of food as medicine to cure the illness of hunger. They take the food to help them cultivate the Way to benefit all human beings.

I tried everything that was served, but I still had some food left on my plate at the end of the meal. I didn’t realize this was a faux pas until I followed my hostess in a line that led to two large dishwashing kettles. We were to dip our plate first in the soapy water, then the clear water. Someone had to clear mine before I could follow the routine. Obviously Buddhists waste no food.

One day when we had finished the meal, the Abbot began speaking in Mandarin Chinese as one of the nuns translated into English. He announced, "Heng Sure’s mama is with us to celebrate her birthday." It was the signal for one of the nuns to bring out a cake for us to enjoy. I had not expected the Abbot to observe our Western tradition. It reassured me that he was ready to adopt American customs.

The exchange afterward with other mothers touched me on a deeper level. One of the American nuns, an Asian guest and I were asked to talk about our sons. The nun was a "Left Home" person—a man or woman who has taken the Buddhist vows and broken family ties to be part of the Buddhist order. In her earlier life, she had a son. The Malaysian mother and I both had sons who had left home to become monks. We were of different ages and had come from different cultures but we had the common bond of a mother’s love for her child and we shared the same sense of loss.

The Malaysian mother also had my concern for our sons being swept up in beliefs we felt might exploit their youthful zeal. But my stay at the monastery convinced me that my mistrust and doubt I had carried were of my own making rather than being based on reality. I realized, after getting to know the Abbot, I had misjudged his purpose and Heng Sure’s judgment. I agree with the nun who said, "Now it is time for you to learn from your son."

One day the monks arranged for a "liberating of life" ceremony, planned in honor of my visit. Buddhists in San Francisco purchased turtles destined for the city’s restaurants and brought them in crates to the monastery. They were carried into the Buddha Hall and laid in front of the altar where they scrabbled and clawed the wooden crates frantically. When the gong sounded for the prayers and the chanting began, the turtles became very quiet, almost as if they were soothed by the sound. The prayers were for their well being because the Buddhists believe that by not ending their lives, the turtles can continue to strive toward a higher form, rather than having to start over again in the endless cycle of birth and death.

After the ceremony, my hostess drove me to a nearby lake where the turtles were to be released.  I had never held a turtle larger than a silver dollar, and these were the size of dinner plates, but each person there was expected to pick one up and carry it to the water. I chose one that looked docile, but as I took hold of him "midships", his little feet became four rotors that I had to keep from clawing my shirt and slacks. He was as anxious to gain the water as I was to put him down, so it was a quick trip. When I eased him into the water, he disappeared beneath the muddy water immediately and I thought the ceremony was finished.

Gwo Wu said, "Watch. They will thank us."  I thought she was joking, but out in the lake about fifty feet, little heads began to pop up. The turtles turned, looked at us, and disappeared again.  Gwo Wu said, "Keep watching."  In a minute or two, farther out in the lake, turtle heads appeared again, turned, and looked back. I couldn’t believe it.  Gwo Wu said, "They will thank us three times", and they did.  I can’t explain it; I just know it happened, and it was a very satisfying act of kindness that I enjoy remembering when I see turtle soup on a menu.

Before I returned home, the Abbot and I had a conversation through an interpreter.  He told me, "The Buddha says you can believe in your God and Buddha too. Your God is like a parent to you, his child. If you do something bad, he forgives you. Buddha has an adult-to-adult relationship with you.  If you do something bad, you are accountable for your actions."

The many kindnesses of the Buddhists made an impression that has stayed with me. They live their religion in a way that I admire.  I know Heng Sure will never marry or give me grandchildren, which is disappointing, but as a Buddhist teacher he is influencing many more children than he ever would as a father. It makes him happier than anyone I know, and I can honestly say I am proud that my son is a Buddhist.

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