What's the difference between East and West?

I found this humorous link that illustrates the culture gap between the East (red color) and West (blue color).


The first picture is "What's trendy" and the second picture is "Child".

 

The third picture is "While waiting in line" and the fourth picture is "Sunday afternoon".

Shark Tan Feature: Kevin O'Leary-ISM

For those that haven't noticed, I love Shark Tank! These Sharks depict the real dog-eat-dog world that these business moguls have struggled and survived, and ultimately came out as the Top Dogs.

By far, my favorite quotes have been coming from Kevin O'Leary, a self-made entrepreneur who sold his business to Mattel for $3.7 billion.

1. Let me tell you something. If you were in one of my business school classes, I would spray you down with water and every time you say "I don't know." I'd hit you with an electric cattle prod. You gotta know this stuff!
2. I'm going to sneeze I'm allergic to bad ideas. 
3. My money has its own soul.
4. Can it make me money? That's all I care about. 
5. I just love my money too much. I'm out.

Someone should make a book from these memorable quotes!

New Information Regarding Berkshire's Scandal

In my previous post about the Berkshire's scandal, new details have emerged today in WSJ's Deal Journal. David Sokol, the apparent heir of Berkshire Hathaway, suddenly quits his job has raised questions of the situation.


Three key incriminating evidence that the audit committee found are:

1. Warren Buffet did not know that Sokol bought shares in Lubrizol after Sokol asked bankers to kick off possible acquisition talks. 
2. Sokol lied to or misled the Berkshire CFO.
3. Sokol asked Bueffett to strike a paragraph in a press release regarding the impact of the Lubrizol stock purchases.

Top Affordable Colleges in America

Wall Street Journal's Smart Money just released a list of top affordable colleges in America

1. Cooper Union (Free Tuition)

Runner Up: Curtis Institute of Music, City University of New York Macaulay Honors College, Deep Springs College (all-male).

2. University of Pennsylvania (No-Loans College)

Runner Up: Boston University (for income-eligible students who graduate from Boston's public schools); Rice University (for families with income of $80,000 or less); Vanderbilt University (for all students receiving need-based aid).

3. University of Florida (Bargains for In-State Residents)

Runner Up: University of North Carolina at Chapel Hill (around $6,700 per year in tuition and fees); University of Texas at Austin ($10,400); University of Washington ($12,600).

Another Donation For USC - $110 Million!!!

This just in... The Mork family has donated a historic gift to USC, in the form of $110 million. Announced on the USC's official website, this is the largest sum of donation in USC undergraduate scholarships history. The USC Mork Family Scholars Program is aimed towards incoming freshmen and are awarded based on academic merit. It runs similarly to the USC Trustee and Presidential Scholars programs. Recipients have to maintain at least a 3.5 GPA and will enjoy the same benefits offered to Trustee and Presidential Scholars, including residence in the residential college for honors students and special programming throughout the academic year.

Did USC just get $200 million, $15 million and now $110 million in the last 2 months or so? So basically I go to the best school in the history of the universe! Fight on! 

Bold Claim: Nintendo 3DS Are Good For Kids?

One of my gamer friends showed me this article to convince me that video games have more benefits than people think! Really? I personally question the true intentions behind these "US optometrists" that gave this recommendation.

To sum it up, the claim here is that the new Nintendo's 3DS can help detect eye problems in young kids at an early stage. 

An earlier report that had the upcoming Nintendo 3DS gaming console's screen bad for the eyes of users, especially those of children under six, is being discounted by US optometrists. USAToday reported on Friday that manufacturer's warnings don't need to be followed for undeveloped vision of the young kids. Eye specialists suggested the just the opposite and condoned the use of the game consoles by that age group, as it could help parents catch vision disorders early.

"The 3DS could be a godsend for identifying kids under six who need vision therapy," said Michael Duenas, associate director for health sciences and policy for the American Optometric Association.

 If you were a parent, would this article convince you to let your kids play video games?

USC Hires New Professors

According to the official USC website,

Lord John Eatwell, a well-known British economist, member of the House of Lords, and president of Queens’ College, Cambridge, and Lady Eatwell (known professionally as Suzi Digby) an acclaimed choral conductor and recipient of the Order of the British Empire for services to music education, have been appointed to the USC faculty for the Fall 2011 semester by president C. L. Max Nikias.

Lord Eatwell will join the faculty of the USC Dornsife College of Letters, Arts and Sciences, where he will teach a graduate course in the Department of Economics on Classical Economic Theory and Its Critics, and an undergraduate course in the School of International Relations on Global Economy 2020. For this latter course he will invite six prominent political figures and experts to give guest lectures on crucial factors and policy issues that will influence global society over the coming decade.

Suzi Digby (Lady Eatwell) will join the faculty of the USC Thornton School of Music, where she will teach an undergraduate course on English Choral Literature with Nick Strimple, a professor of choral music and an acclaimed composer, conductor and scholar. In addition to teaching, she will be involved with a variety of artistic and educational endeavors within USC Thornton.

So, for those that are still taking courses next semester, sign up!

Water for Elephants

I watched  Water for Elephants during its opening weekend! The story goes something like this: "A veterinary student abandons his studies after his parents are killed and joins a traveling circus as their vet." It is based on a New York Times bestseller and features a star-studded cast: Robert Pattinson, Reese Witherspoon, and my favorite villain playing actor, Christopher Waltz. My friend who loved the book dragged me to see the movie and of course, I went along to see the handsome R-Pat in action.


The movie brought back nostalgic feelings of me going to the circus as a young girl. I loved the scene when Rosie, the elephant, stood on her front legs. I couldn't help but let out a "wow" when I saw it. It reminds me how much I loved the circus!

I'm also glad to hear that no animals were harmed during the filming process. According to E! as we know it, "the perception of abuse was created using makeup, fake blood, computer-generated images and post-production sound effects. Read a report from on the set of “Water for Elephants” and a detailed description of how the animal action was achieved safely at http://www.americanhumanefilmtv.org/water-for-elephants/."

Overall, the movie was good (3.5 out of 5 stars). If you find yourself at the theater but nothing appeals to you, then give this a try. For me, it was a little too reminiscent of Big Fish and The Notebook. Yet, Water for Elephants didn't leave me with an impressionable memory as the other two movies did. Nonetheless, I did recommend the movie to those that are anti-Edward Cullen fans. Robert Pattison's acting has improved since Twilight!

Get in the Shark Tank 2

I've been addicted to Shark Tank. It took me one day to catch up with the current season (they just aired episode 6 on Hulu)! In the latest episode of Shark Tank, 4 of the 5 sharks fought over 1 guy's idea of SweepEasy Broom, basically an improved version of a scraper broom. The product itself is a gold mine. It's simple to understand and use, no need to educate consumers, and the profit margins on these babies are great. True to their names, these sharks were fighting over each other in one of the most heated scenes I've seen yet on this show. At one point, Kevin O'Leary said to Barbara Corcoran that if she messed up his deal, he would "slap her like a baby seal." Interesting choice of words, don't you agree? You can see the action for yourself by clicking here.


As I was watching the show, I became very curious with one thing -- are the deals made on Shark Tank legally binding?

According to Chubbybrain,

The offers are not binding it seems until due diligence occurs. Investing any amount of money with no due diligence would be foolish on the part of an investor no matter how wealthy as they need to understand your company and verify the veracity of your claims (patents, revenues, number of customers, etc).

From an entrepreneur's perspective, a deal is not done until the ink dries on the papers both in real life and on the Shark Tank.

Get in the Shark Tank

I recently discovered a great show for entrepreneurs who want to see how to negotiate with investors -- angels, VC, or in this case, sharks.

Some of the presentations are very interesting. I was very moved by a full-time mom who started her business in her garage. She began her business after her husband was fired from his job and she had to find some ways to make ends meet. Her company, Mod Mom Furniture , creates eco-friendly toy boxes with a pretty lucrative profit margin.

After doing some researches, it turns out that after the episode aired, many people besides Robert Herjavec contributed to her success. Check out her own blog post about her experience on Shark Tank!

At the Met: Alexander McQueen Exhibit

If you are in NYC area between May 4 to July 31, make sure you check out an upcoming exhibit at the Metropolitan Museum of Art -- "Alexander McQueen: Savage Beauty." It features over 100 ensembles and 70 accessories from the designer's career that spanned 19 years.

The Met's exhibition follows themes —such as Gothic design, exoticism and nationalism—and silhouettes that recurred in Mr. McQueen's collections. "He loved clothes that referenced history and idealized the female form," said Mr. Bolton.

Most designs are high concepts but celebrities like Lady Gaga and Sarah Jessica Parker have walked the runways rocking McQueen's most notorious outfits.

Check out  Vogue UK for a full preview.

Cheaper Eggs Coming Your Way

Happy Easter! For those that are out celebrating with egg decorations and egg hunts, I have great news for you!

According to WSJ,

The average retail price of eggs was $1.73 a dozen in March, down 5% from a year ago, according to the U.S. Department of Agriculture. Meanwhile, the wholesale price of $1.28 a dozen in the week leading into Easter is down 7 cents from a year ago and 10 cents from two years ago.

Right now, egg demands around Easter have been less than previous years. And this does not translate well for the egg producers. Maro Ibarburu of Iowa State University's Egg Industry Center said, "If they are not making money now, I don't see how they are going to make money for the next three or four months."

So bring out your paint and brushes, and get crackin'!

(Photo Credit: Crunchy Domestic Goddess)

New Leader Born in Macau's Ho Empire

Casino mogul Stanley Ho has passed his throne to his fourth wife, Angela Leong, after a power struggle within his family. Ms. Leong now controls one of Macau's most lucrative gambling operation, which earned $457 million on revenue of $7.4 billion from its 20 casinos last year.

WSJ reports that Ms. Leong has an ambitious plan to "spend $1.3 billion to build a Macau theme park and resort with six hotels, an indoor beach and an equestrian center. The complex won't have a casino, however, in line with the Macau government's efforts to diversify the economy."

Whether this project will expand the Ho empire further, I give Ms. Leong two thumbs up for creating job opportunities to the people of Macau. Macau is outpacing Las Vegas in terms of revenue, which Macau earned "more than quadruple that of Las Vegas."

Eggception!

Although my blog is focused on business talk, this post features a random and fun event!

I want to share a couple of very interesting videos with everyone! I found a few that captured an egg phenomenon. The credibility seems reliable because multiple sources have discovered the same thing. So, which came first? The chicken or the egg?

1. Big Egg from Elman511 in the United States


2. Double Egg - 2 eggs in 1! Mutant! from itzoa in Bulgaria


3. 日本一！？　大きな鶏卵！！　衝撃の中身 　BIG　EGG from la76ayk in Japan

China Posts First Quarterly Trade Deficit In 7 Years

Surprise! Just when everyone is criticizing China for "fixing" their Yuan, China throws a curve ball at us by posting a quarterly trade deficit of $1.2 billion for the first time since 2004. From WSJ's China Real Time Reports Blog, this is a significant step signaling the impact of rising commodity prices on China.

Xianfang Ren and Alistair Thorton from IHS Global Insight reports that "the headline data — that China recorded its first quarterly trade deficit since 2004 — may suggest some significant progress on the rebalancing agenda, but it remains far too early to make such a bold call." 

Lu Ting from Bank of America-Merrill Lynch is optimistic that China will most likely post a trade surplus for the year despite month deficits here and there. The slow trade growth is due to weaker terms of trade and rising prices.

By keeping Yuan at a lower exchange rate than other currencies, China continues to export its goods at a reasonable price. Can China keep this charade up? Will China be the next superpower?

Johnson & Johnson Pays $70 million for Bribery Charges

WSJ reports:

The Justice Department said the terms of the settlement reflect J&J's voluntarily disclosures to the government, its cooperation and the company's "role in identifying improper practices in the life sciences industry."

J&J's payments to settle the various probes include $48.6 million to the SEC in disgorgement and prejudgment interest, a $21.4 million criminal penalty to the Justice Department, and £4.8 million ($7.8 million) to the U.K. Serious Fraud Office.

A $70 million settlement to Johnson & Johnson seems like a drop in the ocean for this corporate giant. Compared to my previous post on AstraZeneca's $1.1 billion payment. Is bribery a less serious charge than tax evasion? Or is this a "sweetheart deal"?

Toyota, Nissan, and Honda resume production in Japan

The WSJ reports that Toyota, Nissan, and Honda will continue their manufacturing operations in Japan in late April. Unfortunately, the production will be at half of its original production volume, for an indefinite time length.  These 3 auto giants have discontinued their operations for three months due to the earthquake destruction. This has a ripple effect on its counterpart factories around the world -- Toyota, Nissan and Honda also have reduced production level at overseas plants.

This is good news for Japan. I'm glad to see companies are getting back on their feet. Hopefully Japan's economy will recover soon enough. Of course, this is great news for American auto makers. No longer will Japanese cars be the dominant force they once were. GM and others will finally gain the upper hand and win back the American consumer market.

Keep on Googlin'

Since the launch of its super search engine, Google also pioneered in launching brand new products: Gmail, Google Maps, Android OS, Google Checkout, etc. One of my newfound favorites is the Google Art Project, which gives users the interactive ability to visit museums from around the world. TIME Magazine praises it as “one of the longstanding promises of the Internet–of the last century’s worth of technology.” 

Many Googlers devoted their time to develop a project that handles crises. According to a recent news article from physorg.com, Google engineers are designing “a multi-lingual Crisis Response Page with links to resources such as emergency hotlines, relief organizations, maps, and a service for finding loved ones.” In the aftermath of Japan’s earthquake and tsunami disasters, the Official Google Blog reports:

In Japan, Person Finder went live within an hour of the earthquake. More than 600,000 contact entries have been made since then—more than all other disasters combined—and there have been several reports of people finding their loved ones safe.

American Apparel Heads For Bankruptcy

In response to The Trojan Business Journal's post on the near bankruptcy state of American Apparel (AA), I have to point out that there are other reasons other than its American Made goods business model that are contributing to AA's downfall. I agree with TBJ's assessment that AA's "failure to conform to outsourcing its manufacturing operations" can be a major setback. Yet,  AA's aversion to sweat shops was its leading marketing campaign to attract the so-called "hipster cult" crowd. Now, here are some conclusions based on my own observations.

First of all, AA has tarnished its reputation when the founder Dov Charney was sued by a former worker for sexual abuse:

Last month a former worker sued founder Dov Charney, alleging he sexually abused her. American Apparel has said that it expects the lawsuit will be tossed out because the former employee signed an agreement not to sue and to settle disputes in arbitration when she left the company.
The lawsuit is the latest in a string accusing Charney of inappropriate sexual conduct with female employees. In interviews, he has acknowledged having sexual relationships with female workers, but said they were consensual.

Second, Deloitte resigned as AA's external auditor in July 2010. According to WSJ, AA's stock dropped after the announcement. Like most cases where the auditors quit suddenly, the main concern points to "retail store impairment, inventory reserves and the provision for income taxes" on the balance sheet. Based on my knowledge from accounting and business management classes, this typically happens when there is material fraud happening at the client company that Deloitte doesn't want to get involved with and/or major clash between the Deloitte team and the client head team.

Third and lastly, as the economy continues to lag indefinitely, AA refuses to drop its prices. Sure, their clothes are made of higher quality but a plain, basic t-shirt should not cost the amount that AA charges. Especially when you have giant retailers such as H&M and Forever 21 chasing after you. As the Consumerist puts it, 

Something about [American Apparel] being overpriced, bland, and enshrouded in hipster mystique and social activism really pisses our pants off.

Now that AA has completely exploited the royal consumers and destroyed its image, who is willing to pay for their overpriced merchandises? After all, not every company can get away with it like Apple can.