
Top News
In less than two months’ time, unless a deal is struck, America will fall off a "fiscal cliff" that will, through a combination of automatic tax rises and spending cuts, subtract as much as 5% from GDP in a year. That would be a disaster for an economy growing at an annual rate of barely 2%. But behind this immediate crisis is the deeper one: America taxes itself like a small-state economy, and spends like a big-state one. Add in an ageing population, and it is going broke. Mr Obama will be pilloried by history if he does nothing to fix that, though the bond markets would probably punish him well before he left office. (The Economist)
Visit http://www.economist.com/news/leaders/21565955-budget-deal-makes-sense-re-elected-president-his-opponents-his-country-and to view the full article online.
The notion of cheating at solitaire derives from the common experience of not having the right sequence of cards to win a hand of Solitaire – and simply pulling a useful card from elsewhere in the pile to continue playing. Technically, you’re breaking the rules, but doing so doesn’t much matter; it’s just a game and there’s only you playing. Too often, however, people do exactly the same thing in their careers, where it does matter – a lot. (Fast Company)
Visit http://www.fastcompany.com/3002799/success-starts-only-after-brutally-honest-look-mirror to view the full article online.
Diversity in the Workplace
International
If you're a coffee drinker, chances are the cup of java you drank this morning was made from beans that were produced or harvested by women. Women's handprints can be found at every point in coffee production. In fact, on family-owned coffee farms in Africa, about 70 percent of maintenance and harvesting work is done by women, according to an analysis by the International Trade Centre, but only rarely do women own the land or have financial control. (NPR)
Visit http://www.npr.org/blogs/thesalt/2012/11/07/164347078/meet-four-african-women-who-are-changing-the-face-of-coffee to view the full article online.
Greece’s coalition government, formed five months ago, never expected a honeymoon period. After a fractious vote on a new round of austerity measures in Parliament on Wednesday, it knows it is involved in a grim battle for survival. The three-party administration narrowly won the ballot, collecting just 153 of the 300 votes despite having 177 MPs ahead of the vote. (Bloomberg/Businessweek)
Visit http://www.businessweek.com/articles/2012-11-08/how-the-greeks-accepted-new-austerity#r=hp-ls to view the full article online.
Education
The federal government’s Income-Based Repayment (IBR) program for federal student loans has been touted as a way for struggling borrowers to make affordable monthly loan payments based on their earnings. Yet the program, around since 2007, has not been popular with students. Despite rising levels of student debt, only 1.1 million borrowers are enrolled in the current program. The Obama administration is hoping that will soon change with its redesigned program, also known as the "Pay as You Earn" plan. (Bloomberg/Businessweek)
Visit http://www.businessweek.com/articles/2012-11-02/obamas-new-pay-as-you-earn-plan-a-windfall-for-mbas#r=hpt-ls to view the full article online.
As MBA recruiting disasters go, this one was epic. As top business schools throughout the U.S. continued making post-recession strides in MBA job placement this year, nearly one of every four graduates from the Marshall School of Business at the University of Southern California – 23 percent – was unemployed three months after graduation, up from 9 percent for the Class of 2011. It’s the single worst showing in MBA career placement for any top-30 business school this year. (Bloomberg/Businessweek)
Visit http://www.businessweek.com/articles/2012-11-08/why-nearly-one-out-of-four-mbas-at-usc-is-jobless#r=bus-ls to view the full article online.
Technology
I’ve made a lot of computer blunders over the years. So please believe me when I offer this word of advice on installing Microsoft’s shiny new Windows 8 operating system: Don’t. Windows 8 is far from the disaster Vista was. But unless you have a very recent personal computer with a touch screen, there are few benefits – and some significant drawbacks in terms of learning curve and usability – to upgrading from Windows 7. (Bloomberg)
Visit http://www.bloomberg.com/news/2012-11-07/considering-windows-8-upgrade-don-t-rich-jaroslovsky.html to view the full article online.
The night before the end of Google’s Pwnium contest at the CanSecWest security conference this year in Vancouver, a tall teen dressed in khaki shorts, tube socks and sneakers was hunkered down on a hallway bench at the Sheraton hotel hacking away at his laptop. With a $60,000 cash prize on the line, the teen, who goes by the hacker handle "Pinkie Pie," was working hard to get his exploit for the Chrome browser stabilized before the close of the competition. (Wired)
Visit http://www.wired.com/threatlevel/2012/11/bug-bounties/ to view the full article online.
Entrepreneurship
I wonder how many millions of small-business owners and entrepreneurs are sitting out there at this very moment, thinking about the money they need to finance their companies and ideas. The approach an owner chooses can make or break a business. It’s a decision that can change your life. The first question owners need to ask – and challenge themselves on – is how much money they really need. (The New York Times)
Visit http://boss.blogs.nytimes.com/2012/11/08/the-genius-of-starting-a-company-without-outside-capital/?ref=business to view the full article online.
More than a week after slamming into the East Coast, Hurricane Sandy is causing headaches in payroll. Companies largely excused worker absences immediately after the storm, which left millions without power and tens of thousands temporarily homeless. But as businesses around the region return to normal, managers are grappling with how much, and how long, to pay employees who cannot make it in to work. (Wall Street Journal)
Visit http://online.wsj.com/article/SB10001424052970204755404578103250678021088.html?mod=WSJ_hpp_sections_careerjournal to view the full article online.
The Economy
Exports from the U.S. climbed to a record in September, contributing to an unexpected decline in the trade deficit that gave the world’s largest economy a boost at the end of the third quarter. The gap shrank 5.1 percent to $41.5 billion, the smallest since December 2010 and lower than any estimate in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. (Bloomberg)
Visit http://www.bloomberg.com/news/2012-11-08/trade-deficit-in-u-s-unexpectedly-narrows-on-record-exports.html to view the full article online.
Personal Finance
Not long after four years in the Marine Corps, which included participation in Desert Storm, Jamar Bates started his own residential real estate and mortgage company in Atlanta. He built it up to 130 employees--and then the housing market collapsed. He eventually shuttered the business and, after three years' work in the Middle East, he came back to Atlanta and became a MassMutual agent in 2011. "My years in the real estate and mortgage industry were foundational," he says. (Wall Street Journal)
Visit http://online.wsj.com/article/SB10001424052970203707604578094563569419082.html to view the full article online.
Corporate America
Few industries have made such a one-sided bet as Wall Street did in opposing President Obama and supporting his Republican rival. The top five sources of contributions to Mr. Romney, a former top private equity executive, were big banks like Goldman Sachs and JPMorgan Chase, according to the Center for Responsive Politics. Wealthy financiers &ndash led by hedge fund investors – were the biggest group of givers to the main "super PAC" backing Mr. Romney, providing almost $33 million, and gave generously to outside groups in races around the country. (The New York Times)
Visit http://dealbook.nytimes.com/2012/11/07/on-wall-street-time-to-mend-fences-with-obama/?ref=business to view the full article online.
Government
The critical political message from President Obama's re-election victory Tuesday is that he cemented a new coalition of Democrats, led by the Latino vote, which threatens to reduce Republicans to an afterthought in future national elections. Yes, Mr. Obama won with the same group of voters – Hispanics, blacks, Asians, young people and educated women – that brought him to power in 2008. (Wall Street Journal)
Visit http://online.wsj.com/article/SB10001424127887324439804578105072331776096.html to view the full article online.
Leadership
Barack Obama is once again the president of the United States. The first thing he should do is pick his leadership team – carefully. "No other action will have a larger impact on his ability to meet the huge, immediate challenges facing the U.S.," says Claudio Fernández-Aráoz, the author of Great People Decisions. I interviewed Fernández-Aráoz and Harvard Business School professor Nancy Koehn about why the right group of advisers is important for the president and what pitfalls he should look out for when shuffling his cabinet. (Harvard Business Review)
Visit http://blogs.hbr.org/hbr/hbreditors/2012/11/how_president_obama_should_choose_hi.html to view the full article online.
Engagement is a personal equation, and managers must play a role in helping each employee solve it. Your best managers already understand this. They’re not waiting for survey data to shape what they do. They don’t make engagement a once-a-year priority, distinct from what they do the rest of the time. They always manage their teams with an eye toward results and engagement. How do they do it? Dialogue. (Fast Company)
Visit http://www.fastcompany.com/3002806/making-most-dreaded-annual-review to view the full article online.
Lifestyle
Good news! Wal-Mart will help you work off that turkey dinner with even earlier Black Friday offers this year. Every year retailers move up the kick-off to bargain hunting in order to get a head start in the holiday market share game. And this year will not be any different. (CNBC)
Visit http://www.cnbc.com/id/49742710 to view the full article online.
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