joi, 18 septembrie 2014

Seth's Blog : Two elements of an apology

 

Two elements of an apology

Compassion and Contrition

"We're sorry that your flight was cancelled. This must have truly messed up your day, sir."

That's a statement of compassion.

"Cancelling a flight that a valued customer trusted us to fly is not the way we like to do business. We messed up, it was an error in judgment for us to underinvest in pilot allocation. Even worse, we didn't do everything we could to get you on a flight that would have helped your schedule. We'll do better next time."

That's what contrition sounds like. We were wrong and we learned from it.

The disappointing thing is that most people and organizations that take the time to apologize intentionally express neither compassion nor contrition.

If you can't do this, hardly worth bothering.

But it is worth bothering, because you're a human. And because customers who feel listened to help you improve (and come back to give you another chance.)

       

 

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miercuri, 17 septembrie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


"Precarious" Global Economy

Posted: 17 Sep 2014 11:26 PM PDT

It's not often I agree with the IMF on anything, but this time I do. The Global Recovery is Precarious, says International Monetary Fund.
The International Monetary Fund has warned that the global recovery is on precarious footing, as rising geopolitical tensions and the prospect of tighter monetary policy in the US risk dampening the outlook for global growth.

In a document prepared ahead of this week's G20 meeting of finance ministers and central bank governors in Australia, the IMF said that growth in the first half of this year was weaker than it had predicted in April. The Fund signalled it is likely to cut its next batch of forecasts which will be released in October.

The Fund's assessment is the latest sign that mounting tensions in Ukraine and the Middle East have worsened the prospects for the global economy.
Headline Agreement

I need to pause right there, with the obvious, because the IMF can see no further than what has already transpired.

"While the recovery is projected to regain some strength in the reminder of 2014 and 2015, it would be weaker than foreseen in the spring," the IMF said.

The Fund expects growth to accelerate in advanced economies, with the US and the UK enjoying the strongest rebound. However, the outlook for the eurozone and Japan is more uncertain, as inflation remains below central bank targets.

Acceleration of Growth in Advanced Economies?

I strongly disagree. Germany is on "precarious" footing to say the least, and prospects for the US with a declining global economy are not so bright either.

While I agree with the headline, I disagree with the details as well as how we got here and what to do about things.

But yes, things are precarious, and I suspect, about ready to go over the cliff.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Companies' Stock Buybacks at Biggest Pace Since 2007; Companies Rewarding Investors?

Posted: 17 Sep 2014 11:05 AM PDT

In yet another sign of market over-exuberance, the Wall Street Journal reports Share Repurchases Are at Fastest Clip Since Financial Crisis.
Corporations bought back $338.3 billion of stock in the first half of the year, the most for any six-month period since 2007, according to research firm Birinyi Associates. Through August, 740 firms have authorized repurchase programs, the most since 2008.

The growth in buybacks comes as overall stock-market volume has slumped, helping magnify the impact of repurchases. In mid-August, about 25% of nonelectronic trades executed at Goldman Sachs Group Inc., excluding the small, automated, rapid-fire trades that have come to dominate the market, involved companies buying back shares. That is more than twice the long-run trend, according to a person familiar with the matter.
Large Repurchases in 2014



Rewarding Investors - Not



Contrary to the above graphic (and common wisdom), companies do not reward investors by buying back shares at inflated prices. Companies bought back the most shares in 2007, right before the crash, and the least shares at the most opportune time in 2009.

In practice, insiders buy low and sell high, and pocket cash from options all the way up. Insider activity is exactly the opposite of how companies treat shareholders.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Damn Cool Pics

Damn Cool Pics


Interesting Facts You Might Not Know About China

Posted: 17 Sep 2014 01:36 PM PDT

China has a very interesting culture and it's a unique place to live. Unless you live there already, there's a lot you probably don't know about China, but that's about to change.


















These May Be The Worst Marriage Proposals Ever

Posted: 17 Sep 2014 12:10 PM PDT

Marriage proposals are supposed to be sweet, romantic and memorable which makes us wonder, what were these people going for?













The Inside Of A Fake iPhone

Posted: 17 Sep 2014 11:53 AM PDT

The iPhone 6 just sold 4 million units in a 24 hour time period. But be careful, there are a lot of scammers out there. Don't get stuck with a fake iPhone like this one.


















Why You Shouldn't Brag About Growing Marijuana

Posted: 17 Sep 2014 11:43 AM PDT

This kid decided to brag about the fact that he was growing marijuana all over the popular social networks. As you can tell by the second picture, that probably wasn't such a good idea. He was busted in no time. Hopefully he got a lot of likes and retweets.