40 Work Hacks to Improve Your Marketing Productivity

[…]

8. Communicate with teammates in person. […]

9. Use two different computers (or just different browsers) to separate distracting things like email from what you’re actively working on. […]

11. Use a Google Doc to keep a list of all your personal/work passwords handy so you can access them quickly and easily. [and SSN?][…]

14. Wear headphones without listening to music. […]

34. Adopt the “Inbox Zero” methodology, and treat your email like a to-do list.

{ HubSpot | Continue reading }

photo { Vivian Maier }

Americans spend a ton of time commuting. According to happiness researchers, commuting is the low point of the typical day. If you look at the jobs that people actually do, though, it’s hard to understand why so many workers continue to commute. Given a computer and high-speed Internet, most desk jobs could now be done from home – or so it seems. Telecommuting wouldn’t just save workers time, frustration, and fuel; it would also let firms drastically reduce their overhead – and pass the savings along to their customers.[…]

[Alas,] workers physically commute for signaling reasons. Employers can monitor your productivity better when you actually come to the office. Workers who telecommute put themselves on the slow track to success – if they can even get hired in the first place.

{ EconLib | OvercomingBias | Continue reading }

photo { Michal Pudelka }

You might have seen recently that iconic retailer JC Penney is slumping badly. You almost certainly have seen the reason why: A massive, creative and aggressive new advertising and pricing campaign that promises simplified prices.

No more coupons or confusing multiple markdowns. No more 600 sales a year. No more deceptive circulars full of sneaky fine print. Heck, the store even did away with the 99 cents on the end of most price tags.  Just honest, clear prices.

[…]

Shoppers hated it.

{ MSNBC | Continue reading }

You may recall last summer that Apple, Microsoft, EMC, RIM, Ericsson and Sony all teamed up to buy Nortel’s patents for $4.5 billion. They beat out a team of Google and Intel who bid a bit less. While there was some antitrust scrutiny over the deal, it was dropped and the purchase went through. Apparently, the new owners picked off a bunch of patents to transfer to themselves… and then all (minus EMC, who, one hopes, was horrified by the plans) decided to support a massive new patent troll armed with the remaining 4,000 patents. The company is called Rockstar Consortium, and it’s run by the folks who used to run Nortel’s patent licensing program anyway — but now employs people whose job it is to just find other companies to threaten.

{ TechDirt | Continue reading }

I was like all of you. I believed in the promise of the Internet to liberate, empower and even enrich artists. I still do but I’m less sure of it than I once was. I come here because I want to start a dialogue. I feel that what we artists were promised has not really panned out. Yes in many ways we have more freedom. Artistically this is certainly true. But the music business never transformed into the vibrant marketplace where small stakeholders could compete with multinational conglomerates on an even playing field.

In the last few years it’s become apparent the music business, which was once dominated by six large and powerful music conglomerates, MTV, Clear Channel and a handful of other companies, is now dominated by a smaller set of larger even more powerful tech conglomerates. And their hold on the business seems to be getting stronger. […]

Everywhere I look artists seem to be working more for less money.

{ David Lowery/The Trichordist | Continue reading }

photo { Dash Snow }

At least four law suits have been filed as of Wednesday, including one suit by a Maryland investor alleging that Nasdaq OMX Group “badly mishandled” the IPO such that trades were delayed and orders couldn’t be canceled. […]

For example, according to his complaint, Goldberg himself tried to make a series of limit buy orders via an online account. When the trades failed to execute, he tried to cancel them. His cancellation orders were reflected as pending for much of the day, and one trade, to purchase Facebook shares at $41.23, was executed three hours after the order was made, when the stock’s price had dropped to around $38. […]

Meanwhile, three other suits have been lodged against Facebook and numerous financial service firms who underwrote or otherwise took part in the IPO.

For example, Lieff Cabraser Heimann & Bernstein, announced that it had filed a class action lawsuit on behalf of all persons and entities who purchased the securities of Facebook, Inc. in connection with its $16 billion initial public offering of common stock on May 18, 2012 (the “IPO”).

The action was brought against Facebook, some of its officers and directors, and the underwriters of the IPO for violations of the federal securities laws.

Meanwhile, Los Angeles law-firm Glancy Binkow & Goldberg LLP, filed its own class action lawsuit on behalf of investors. The complaint, captioned Lazar v. Facebook, Inc., et al., was filed today in the Superior Court for the State of California, County of San Mateo, on behalf of a class consisting of all persons or entities who purchased the securities of Facebook.. It alleges, among others, that the offering materials provided to potential investors were negligently prepared and failed to disclose material information about Facebook’s business, operations and prospects, in violation of federal securities laws.

{ Securities Technology Monitor | Continue reading }

Fri May 18, 2012 11:44am EDT

“A 15 to 20 percent pop is in the realm of possibility,” said Tim Loughran, a finance professor at the University of Notre Dame, before the start of trade. […]

Some expect shares could rise 30 percent or more on Friday, despite ongoing concerns about Facebook’s long-term money-making potential. An average of Morningstar analyst estimates put the closing price for Facebook shares on Friday at $50.

{ Reuters | Continue reading }

related { Morgan Stanley told brokers on Wednesday it is reviewing every Facebook Inc trade and will make price adjustments for retail customers who paid too much }

photo { Joel Barhamand }

If you are an IPO company founder and — even more explicitly — you are Facebook CEO Mark Zuckerberg, you want your share price on the first day to go exactly nowhere, which is what Facebook did. That means no money was left on the table and the company got the best possible deal.

Zuckerberg didn’t and doesn’t care about investors in this scenario. He just doesn’t give a damn. Investment bankers do give a damn because they’d like to have another IPO next week or next month and have that go very well, too. Zuckerberg expects Facebook to never issue another share of stock. He’s done raising money thanks, and on his honeymoon.

I’m sure there was a struggle at the end over how to price the offering. The bankers would have preferred $34 or even $32, but Facebook went for $38 and they were correct to do so from their point of view because we now see it was the optimal solution.

{ Cringely | Continue reading }

As Facebook shares continued their slide, regulators launched inquiries into whether privileged Wall Street insiders were alerted to the company’s weakening financial projections, leading them to shun the stock or dump shares just as buying was opened to the public. […]

SEC Chairwoman Mary Schapiro said the agency will examine “issues” into the bungled Facebook public offering. […]

The legal issue raised could be “securities fraud — plain and simple,” said Ernest Badway, a securities lawyer in New York and New Jersey and a former enforcement attorney at the U.S. Securities and Exchange Commission.

{ LA Times | Continue reading }

One mutual fund source said they had never, in a decade of experience, seen an underwriter cut a company’s outlook during the road show prior to an offering. […]

Brokers who over-ordered shares in the expectation that supply would be limited continued to complain they received too much stock to handle and were left in the dark about forecast changes.

{ The Age | Continue reading }

photo { Victor Cobo }

The 50-year-old [David Harding] runs Winton Capital, one of a secretive but influential band of computer-driven hedge funds that bet tens of billions of dollars on the world’s financial markets using algorithms - mathematical instructions to computers - which consume everything from bond price moves to rainfall statistics.

For Harding, whose business attracts mainstream pension investors from the world over, all of human knowledge is relevant. Rivals are circling, and data is becoming an increasingly strategic weapon.

Winton’s collection of funds is now worth more than $29 billion. It has returned 14.8 percent a year in its main fund over the past decade - one of the best records over that period in the UK - and Harding is now likely to be Britain’s highest-paid person, according to this year’s Sunday Times Rich List. It says his wealth almost doubled last year to 800 million pounds ($1.27 billion).

Funds like his are known in the industry as trend-followers, managed futures funds or Commodity Trading Advisors (CTAs). Now run almost entirely by scientists, their ‘black box’ trading has entered popular culture: Robert Harris’s latest thriller, “The Fear Index”, features a fictional physics expert like Harding and rogue computer code.
But as algorithmic hedge funds have become better known and sucked in investors’ money, returns have started to falter. Managed futures funds on average have lost money in two of the past three years, gaining just 4 percent in aggregate while the S&P 500 rose 49 percent.

The funds are struggling to cope with skittish markets. But they’re also being squeezed by a more mundane fact: their basic techniques aren’t so hard to copy, and can be worked out with a few internet searches.

{ Reuters | Continue reading }

Divorce lawyers and wedding planners have been gearing up for the Facebook IPO, waiting for the influx of wealth in Silicon Valley to stir up drama in romantic relationships, for better and for worse.

“When Google went public, there was a wave of divorces. When Cisco went public there was a wave of divorces,” says Steve Cone, a divorce attorney based in Palo Alto, near the social network’s Menlo Park headquarters. “I expect a similar wave shortly after Facebook goes public.”

{ FT | Continue reading }

photo { Vivian Maier }

The lawyers for Goldman and Bank of America/Merrill Lynch have been involved in a legal battle for some time – primarily with the retail giant Overstock.com, but also with Rolling Stone, the Economist, Bloomberg, and the New York Times. The banks have been fighting us to keep sealed certain documents that surfaced in the discovery process of an ultimately unsuccessful lawsuit filed by Overstock against the banks.

Last week, the banks’ lawyers, apparently accidentally, filed an unredacted version of Overstock’s motion as an exhibit in their declaration of opposition to that motion. In doing so, they inadvertently entered into the public record a sort of greatest-hits selection of the very material they’ve been fighting for years to keep sealed. […]

“Fuck the compliance area – procedures, schmecedures,” chirps Peter Melz, former president of Merrill Lynch Professional Clearing Corp. (a.k.a. Merrill Pro), when a subordinate worries about the company failing to comply with the rules governing short sales. […]

There are even more troubling passages, some of which should raise a few eyebrows, in light of former Goldman executive Greg Smith’s recent public resignation, in which he complained that the firm routinely screwed its own clients and denigrated them (by calling them “Muppets,” among other things).

{ Rolling Stones | Continue reading }

Nokia accuses Apple of bias after Siri no longer says that the Lumia 900 is the best smartphone ever

Until recently Siri had responded that the best smartphone was the newly-released Nokia Lumia 900, although this is no longer the case. […] If you now ask the question, Siri responds tongue-in-cheek “Wait… there are other phones?”

{ TechWeek | Continue reading }

He said that there are three key elements that all the successful ones had in common. […]

(1) Don’t have a lot of overhead. Don’t commit to a large rent. Don’t have a large mortgage or, if you do, pay it down quickly.

{ EconLog | Continue reading }

photos { John Crawford }

Members of the Olympic Family must also have at their disposal at least 500 air-conditioned limousines with chauffeurs wearing uniforms and caps. London must set aside, and pay for, 40,000 hotel rooms, including 1,800 four- and five-star rooms for the I.O.C. and its associates, for the entire period of the Games. London must cede to the I.O.C. the rights to all intellectual property relating to the Games, including the international trademark on the phrase “London 2012.” Although mail service and the issuance of currency are among any nation’s sovereign rights, the contract requires the British government to obtain the I.O.C.’s “prior written approval” for virtually any symbolic commemoration of the Games, including Olympic-themed postage stamps, coins, and banknotes. […]

Near the end of the application process, an I.O.C. evaluation committee was permitted to visit London. Bid-committee officials knew that London’s transportation system was a weak spot on the city’s application. “Our nightmare was it would take forever to get to the venues,” Mills recalled. A bid-committee team planned the routes that I.O.C. members would travel around the city, and G.P.S. transmitters were planted in all of the I.O.C. members’ vehicles so they could be tracked. From the London Traffic Control Center, near Victoria Station, where hundreds of monitors display live feeds from London’s comprehensive CCTV surveillance system, each vehicle was followed, from camera to camera, “and when they came up to traffic lights,” Mills said, “we turned them green.”

{ Vanity Fair | Continue reading }

The aim of this article is to discuss how changes in tomato food regulation, production and consumption, can be seen as part of a broader societal change from Modernity to Late Modernity.

Based on evidence from the Swedish and European food systems we demonstrate how a system, which has been successfully managing development in food production for several decades by stressing rationality, homogeneity and standardization, is being challenged by a system that has adapted to, and also exploited, consumer preferences such as heterogeneity, diversity and authenticity.

The article shows how tomato growers develop differentiation strategies, adapting to and cultivating this new consumer interest, and how authorities responsible for regulations of trade and quality struggle to adapt to the new situation. As the products become more diversified, taste becomes an important issue and is associated with a view that traditional and natural are superior to standardized and homogeneous products.

{ Culture Unbound | Continue reading }

Eduardo Saverin, the billionaire co-founder of Facebook, renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill.

{ Bloomberg | Continue reading }

related { The strange vogue in dumping U.S. citizenship }

We’ve been told by the New York Times, you know, the newswpaper of record, that Apple only paid a 9.8% tax rate last year.

As it stands, the company paid cash taxes of $3.3 billion around the world on its reported profits of $34.2 billion last year, a tax rate of 9.8 percent.

This really is the most gargantuan ignorance on their part.
The $3.3 billion has nothing, nothing at all, to do with the $34.2 billion: something which any accountant at all could have told them.

{ Forbes | Continue reading }

related { For every $1 Google spends lobbying, Apple spends 10¢ }

Employees are often required to cede the rights to their designs and inventions to their employers. But Twitter Inc. has recently upended that tradition by drafting a policy that will put control over how such patents are enforced into the hands of its engineers and employees. […]

Come Lague, the chief executive of Zetta Research, which buys patents from failed start-ups and sells them to other companies, believes Twitter’s new policy could affect the value of its own patents.

{ WSJ | Continue reading }

In sports, on a game show, or just on the job, what causes people to choke when the stakes are high? A new study by researchers at the California Institute of Technology (Caltech) suggests that when there are high financial incentives to succeed, people can become so afraid of losing their potentially lucrative reward that their performance suffers.

It is a somewhat unexpected conclusion. After all, you would think that the more people are paid, the harder they will work, and the better they will do their jobs—until they reach the limits of their skills. That notion tends to hold true when the stakes are low, says Vikram Chib, a postdoctoral scholar at Caltech and lead author on a paper published in the May 10 issue of the journal Neuron. Previous research, however, has shown that if you pay people too much, their performance actually declines.

{ Caltech | Continue reading }

artwork { Hong Chun Zhang }

Two years after Europe bailed Greece out to protect the euro, the rescue has become a debacle that threatens to unravel the common currency.

After Greece’s May 6 elections left pro-bailout parties too weakened to govern the country, more elections are likely in June, with no guarantee a stable government will emerge. By next month, Athens must identify €11.5 billion, or $15 billion, in fresh spending cuts or face suspension of the international loans it needs to pay pensions and run schools. If it doesn’t get the money, it would eventually have to print its own.

Greece’s growing turmoil is the culmination of a radical austerity experiment and botched economic overhaul that have pushed the nation to the brink of social and political breakdown. The story of the ill-fated bailout suggests that forcing deep austerity on individual member states won’t save the euro and may worsen its crisis.

Above all, Greece’s example illustrates the conflict between Germany’s tough terms for aiding other euro members and the amount of pain other societies can bear. […]

Greece’s bailout by the EU and International Monetary Fund is the costliest financial rescue of a nation in history, with paid or pledged loans totaling €245 billion. It has already involved the biggest-ever sovereign-debt default, a debt restructuring that wiped out more than €100 billion of Greek bond debt. […]

Greek premier George Papandreou says that when he asked German Chancellor Angela Merkel for gentler conditions in 2010, she replied that the aid program had to hurt. “We want to make sure nobody else will want this,” Ms. Merkel told him.

{ WSJ | Continue reading }

photo { Juergen Teller }

Spain is in a complete economic crisis. Its unemployment rate of 24.4 percent is higher than the U.S. unemployment rate during the worst of the Great Depression. And there’s no Spanish New Deal waiting around the corner to turn things around. The prolonged spell of mass unemployment is going to degrade workers’ abilities and prevent young people from gaining skills. The most capable and daring Spaniards will emigrate abroad, and Spanish firms will (rationally) fail to invest in improving the productivity of their workers. This bleak outlook will make investors more reluctant to loan euros to the Spanish government, which will then force more rounds of tax hikes and budget cuts, which will further crush the Spanish economy. A country that was booming a few years ago now looks doomed.

But perhaps there is a way out, one suggested by the recent experience of Argentina, a nation that’s currently enjoying full employment.

{ Slate | Continue reading }