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NetWire arrowsFebruary 9, 2012
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Top News
Hankering to work overseas? For U.S. MBAs, the good news is that there's plenty of work and little peer competition. (BusinessWeek)
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The economy, the stock market and even the November elections will largely be determined by a group of people who are almost invisible to forecasters. (Time)
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Two closely watched disputes now playing out in the courts are shining a spotlight on tensions between franchise owners and management. The growing rift between franchisees and franchisers – businesses that collectively employ roughly eight million people in the U.S. – follows three consecutive years of declines in the number of U.S. franchises, and as economic pressures prompt people to limit discretionary spending. (Wall Street Journal)
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When I began writing Passion & Purpose in 2009, I met Susan, a young woman on the brink of quitting her investment banking job to pursue her lifelong passion of starting a nonprofit. A year later, when I asked how her new venture was going, I was surprised to hear that she "couldn't bring herself to quit" in the first place. And when we bumped into each other last week, I found her toiling away in exactly the same role, still dreaming of her nonprofit venture, but now more depressed than ever. (Harvard Business Review)
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Career
When you get the call from a hiring manager about setting up an in-person interview, your chances of sealing the deal skyrocket – from one out of 200 resumes to one out of five or six job candidates. Don’t screw up your chances of landing the gig by doing something not-so-smart that could’ve been avoided easily. Here are seven job interviewer pet peeves that can quickly put you out of the running, with tips on how to steer clear of each one. (Kiplinger's)
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As 20-somethings struggle in a tough economy, their moms and dads are writing their resumes, tracking them on LinkedIn, and even going along for the job interview. (Smart Money)
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Diversity in the Workplace
A large California pension fund has challenged Facebook Inc. over what it sees as a lack of diversity on the company's board of directors, just days after the social-networking firm filed papers to go public in a closely watched IPO. (Wall Street Journal)
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Larry, one of the employees you supervise, hasn't been performing his job up to expectations. But you've been reluctant to take him aside and speak with him candidly: Like most senior people in the company, you are white. What if Larry, who is black, takes your criticism the wrong way or, worse, thinks you are racist? (Time)
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Education
Several times a year, Warren Buffett invites students from across the country to Omaha where they ply him with questions. Why does he do it? (Wall Street Journal)
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Veteran B-school dean Ted Snyder has come to Yale with an ambitious agenda, designed to garner the attention and influence that has long eluded the business school. (Fortune)
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International
After days of dramatic talks, Greek political leaders reached a deal on Thursday to support a package of harsh austerity measures demanded by Greece’s financial backers in return for the country’s latest bailout. (New York Times)
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China’s inflation unexpectedly accelerated in January on the boost to spending from a weeklong holiday, limiting room for monetary easing as Europe’s debt crisis damps exports and the property market cools. (Bloomberg)
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Technology
Hard to believe, but it’s been less than five years since the launch of the iPhone. Prior to its explosion in popularity, an ‘application’ was a tool for finding a job, but ask anybody what an application is today, and the first things she thinks of are those helpful little programs we store on our phones and tablets. And according to a new study by Dr. Michael Mandel of South Mountain Economics, this new kind of application is creating a whole bunch jobs for Americans – 446,000 to be exact. (Time)
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As part of its deals with several major studios, Netflix agreed to delay the release of many new films – much to the frustration of some subscribers. But analysts say the online video streaming deal between Verizon and Redbox announced Monday may change that by introducing fresh competition into the market. (SmartMoney)
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Entrepreneurship
When overhauling a client's relationship with its customers, Continuum's Craig LaRosa adheres to a few core principles, from soliciting widespread input to always designing with future flexibility in mind. (Fast Company)
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Anyone who has started a business has his or her own rules and guidelines, so I thought I would add to the memo with my own. My "rules" below aren't just for those founding the companies, but for those who are considering going to work for them, as well. (Entrepreneur)
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The Economy
Financial writer Philip Coggan traces the current global financial crisis to the 1970s, when the U.S. went off the gold standard. (NPR)
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The unemployment rate’s unexpected drop to a three-year low has overshadowed a less-positive labor- market development: fewer Americans are looking for work. (Bloomberg)
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Personal Finance
Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance. (CNN/Money)
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One of the biggest benefits of maintaining good credit is access to the most competitive interest rates on everything from loans to lines of credit. However, even good credit doesn't necessarily guarantee you the lowest possible credit cards rates. The reality is that it may take a phone call (or several) to negotiate a truly fair APR. (U.S. News & World Report)
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Corporate America
Yahoo! Inc.’s board shakeup that led to the departure of Chairman Roy Bostock adds to pressure on the company to sell Asian assets valued at more than $10 billion and reverse the sales slump that’s plagued management since 2008. (Bloomberg/BusinessWeek)
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What good is private equity, anyway? As its critics see it, these investment pools make money the wrong way – buying "target companies," slashing jobs, piling on debt and selling the prettied-up remnants, which by then are doomed to fail. To make matters worse, private equity firms get a stunning tax break, paying 15% on profits instead of 35%. (Knowledge@Wharton)
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Government
In the largest deal to date aimed at addressing the housing meltdown, federal and state officials on Thursday announced a $26 billion foreclosure settlement with five of the largest home lenders. (CNN/Money)
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When Fred Wilson, a prominent New York venture capitalist who has backed Twitter and Zynga, wanted to watch the Knicks game last month, he got an unpleasant surprise. Time Warner Cable was not showing the game because of a contract dispute. (New York Times)
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Leadership
The other day I sat with three senior leaders from three different industries. One was the CEO of an international PR and communications firm. One was a partner of a professional services firm, and the other the president of a national not-for-profit. As it often does, our discussion about work and life turned to technology. I asked them how they used their smartphones and laptops to stay connected to work after traditional business hours. (Fast Company)
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It's no secret that great people build great companies, so it's baffling that more companies don't treat recruiting as the most important job. (Inc.)
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Lifestyle
The writers wore T-shirts showing their tattoos. I'd dressed in Brooks Brothers non-iron French cuffs and a Hugo Boss jacket. It was the dawn of our partnership, one in which they would translate my life into television drama. "So, Marty," one of the writers began. "How much sex did you have . . . in your office?" I revealed the horrible truth: none. (Fast Company)
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