On Feb. 1, Janet Yellen will become the chairman of the Federal Reserve. Considering that the Federal Reserve System just celebrated its 100th birthday and employs more Ph.D. economists than any other institution on earth, you’d think it would have monetary policy down pat. It doesn’t. Yellen herself acknowledges that setting interest rates sometimes involves groping in the dark. (Bloomberg/Businessweek)
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Not long after Alan Greenspan stepped down as Federal Reserve chairman in 2006, global financial markets began to unravel. The collapse of a few financial institutions, the near-collapse of many others, a massive bailout by multiple governments, and the worst economic downturn in three-quarters of a century ensued. Lots of people blamed Greenspan for some or all of this, and the man himself famously allowed, in a Congressional hearing in October 2008, that he had "found a flaw" in his model of how the world works. (Harvard Business Review)
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Older Americans are increasingly shunning retirement to start companies because they see job opportunities limited after age 55, don’t have enough savings to retire comfortably or want to work for themselves. People from ages 55 to 64 started 23.4 percent of companies in 2012, up from 14.3 percent of new entrepreneurs in 1996, according to the Kauffman Foundation’s research. (Bloomberg)
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Unless you’ve managed to pare your life down to monk-like simplicity, chances are you’ve got a lot going on. There’s all the demands of work, of course, and your car needs to be inspected. Your pants aren’t going to walk themselves over to the tailor, and you vaguely remember mentioning to your neighbors that they should come over for dinner. You hate being the kind of person who says stuff like that and then never follows through. (Fast Company)
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If your phone has been ringing a lot lately with calls from recruiters -- either in-house at big companies or at retained-search firms -- that's no fluke. You're part of a growing trend. "We're seeing more employers proactively seeking out and contacting candidates, compared to last year at this time," says Shon Burton, CEO of online recruiting firm HiringSolved. (Fortune)
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No one feels good about procrastinating. That simple fact is giving researchers a powerful tool in their efforts to figure out why we procrastinate, and what we can do about it. While popular approaches to procrastination often aim to maximimize one’s willpower or develop better time-management skills--both good ideas--a variety of new studies show that tackling the emotions associated with procrastination can also help us get moving. (Inc.)
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It isn’t always easy to distinguish between corporate genius and psychopath. Frankly, it’s often a thin line that divides them. Some of these people rise to astonishing heights, but in the process they cause enormous damage. They can poison the workplace, putting the health of both their companies and staff at risk. (Harvard Business Review)
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Some companies have abandoned the whole idea of a meeting. But if your schedule is still saturated with them, here's how to greet your meets much more skillfully. (Fast Company)
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The eurozone's unemployment rate remained stable at 12.1% in November, but retail sales in the area rebounded strongly, latest figures show. Some 19.2 million people were out of work in the 17 countries using the euro, according to the EU statistics office, Eurostat. (BBC News)
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Ireland has been rewarded for sticking to the plan set down by its international creditors with new waves of foreign investment – but this may not be enough to restore it to health. The most recent example of international investors giving Ireland the stamp of approval, after its bailout exit in December, was the successful sale of 3.75 million euros ($5.1 billion) worth of Irish government debt on Tuesday. (CNBC)
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Later this month, Rooda AlNeama will pitch investors at a demo day for Turn8, a Dubai-based startup accelerator backed by shipping terminal operator DP World. While AlNeama helps her social media startup Crowd Analyzer build its business, she keeps one eye trained on the U.K., where she’s completing an MBA at the University of Liverpool. For AlNeama, who’s writing her dissertation on entrepreneurship in emerging markets, long-distance learning has been a good fit. (Bloomberg/Businessweek)
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The triple jump is the most difficult thing an MBA student can pull off. For many, it might well be the hardest challenge they’ll tackle over a lifetime. Just a select few attempt it – and even fewer succeed. It is the ultimate act of reinvention. Instead of leveraging the MBA to make one or sen two career changes – such as securing a promotion or moving from a small financial services firm to Morgan Stanle – triple jumpers shake up three variables all at once: country, function, and industr – and they do so in a highly compressed timeframe. (Poets & Quants)
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The National Black MBA Association® has announced the appointment of Jesse J. Tyson to serve as President and Chief Executive Officer. After concluding a national search, the best candidate and answer for the organization was already in place and leading to higher heights.

"When the Board made the decision to bring Jesse on as Interim in January 2013, we believed his experience and leadership would sustain us during a transitional period as we searched for a new CEO – and our intuition was right. However admittedly, Jesse exceeded our expectations in the organizational advancements and outcomes of last year," said Audrey Dillard Hines, Chairman of the NBMBAA® Board of Directors.
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The next computer consumers buy will fit on a wrist or sit atop a nose. At least that is what many tech companies are hoping. At the International CES here this week, more than a dozen tech companies showcased Internet-connected watches and glasses capable of running software apps. (The New York Times)
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A tug of war has broken out among the major wireless carriers. As Americans rely more on their mobile devices, guzzling data along the way, the carriers are aggressively wooing new customers. In perhaps the most daring move yet, T-Mobile US, the country’s No. 4 carrier, announced on Wednesday that it would cover the termination fees for individuals as well as up to five lines per family for consumers who leave their carrier. (The New York Times)
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It goes without saying that there is a significant amount of pressure on every sales force to deliver its number. Sales management plays a crucial role in reaching that objective, but can sales performance really be managed? I mean, tactically managed? Our research suggests that it can... sort of. (Harvard Business Review)
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January is a weird month for me. It always starts out slow because my clients are figuring out their needs for the year, but it always ends insanely busy because everyone is rushing to make up lost time from the holidays. I would assume this is how it is for most service-based entrepreneurs. (Entrepreneur)
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More lending companies are mining Facebook, Twitter and other social-media data to help determine a borrower's creditworthiness or identity, a trend that is raising concerns among consumer groups and regulators. (Wall Street Journal)
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The next period of American renewal cannot come fast enough. The gap between the richest and poorest Americans is growing wider. In fact, the top 10 percent took in more than half of all income in 2012, the highest share since the data series started. Yet the United States has among the highest child poverty rates of any developed economy. (The Atlantic)
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This is the time of year when many people make an effort to get a handle on their credit. But you might be confused about what actions can actually help your credit and those that can harm it. Consumer columnist Sheryl Harris joined Tell Me More host Michel Martin to share some tips and debunk consumer credit myths. (NPR)
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This year marks a major turning point for baby boomers: The youngest of them turn the big 5-0. Meanwhile, Gen-Xers are now solidly in their 40s and even the vanguard of the Millennials are looking at their 30s. With these milestones in mind, here are some financial tips for each generation. (Wall Street Journal)
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The classic financial planner's rule of thumb says that the older you are, the less you should have in stocks. That idea has become the basis of a big business: Target-date funds, which are premixed portfolios of stock and bond funds, gradually shift you out of riskier assets. (Money)
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In fulfilling online orders, Amazon.com Inc. AMZN is all about expediency. The fewer people involved the better. But when it comes to filling higher-level jobs, the e-commerce giant is in no rush – and it has a gantlet of people, dubbed "bar raisers," who must sign off on would-be hires. (Wall Street Journal)
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"It's a silly project to work on, it’s too gimmicky, it’s not a real computer-science test, and we probably can’t do it anyway." These were reportedly the first reactions of the team of IBM researchers challenged to build a computer system capable of winning "Jeopardy!", a television quiz show. (The Economist)
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Fifty years ago today, President Lyndon Johnson declared "unconditional war" on poverty. Depending on your ideological priors, the ensuing effort was either "a catastrophe" (Heritage's Robert Rector) or "lived up to our best hopes as a people who value the dignity and potential of every human being" (the White House's news release on the anniversary). Luckily, we have actual data on these matters which clarify what exactly happened after Johnson's declaration, and the role government programs played. (The Washington Post)
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It's a good time of the year to start something new. Actually, any time of the year is a good time to start something new. When it comes to change, the time of the year isn't usually at issue. The key issue is this – will this bright shiny new initiative you have in mind take your organization closer to its overall goal(s), or no? (Inc.)
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I focus on the people first – getting the right team – then setting audacious goals, with clear metrics for measuring progress. And I always say that if we’re not making mistakes, we’re not going fast enough because we’re being too careful. But you have to learn from your mistakes. (The New York Times)
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Your vision should be much bigger than what you can actually see. After all, what you envision is what you get. Look beyond your eyes to see the possibilities. (Inc.)
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A few months ago, journalist Timothy Noah observed that Americans are moving away from opportunity. "Migration is not only declining but also tends to be away from places where, according to recent studies, young adults have the best chances of moving up the income scale," he wrote in an article for Washington Monthly titled "Stay Put, Young Man." (Bloomberg/Businessweek)
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Walk through the produce section of your supermarket and you'll see things you'd never have seen years ago – like fresh raspberries or green beans in the dead of winter. Much of that produce comes from Mexico, and it's the result of the North American Free Trade Agreement – NAFTA – which took effect 20 years ago this month. (NPR)
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