Keith Rupert Murdoch

Keith Rupert Murdoch.March 11, 1931 Born in Melbourne, Australia, the latter to become U.S. citizens. His father, Sir Keith Murdoch is a well-known war correspondent and publisher. Murdoch graduated from the University of Oxford Worcester College, in London, "Daily Express" served as assistant editor, returned to Australia in 1952, his father operated the verge of bankruptcy, "Adelaide Daily." Acquired in 1956, "Perth Sunday Weekly." Bought in 1960, "The Sydney Daily Mirror" and the "Sydney Daily." Established in 1964, "Australian." Control of the United Kingdom in 1969 "World News" magazine and "The Sun Daily." Bought in 1973, the United States, "San Antonio News" and "Star." In 1976, has acquired "New York Post," and New York magazines. Bought in 1981, "The Times of London" and the "Sunday Times" as well as three weekly belongs to control 30% of the UK newspaper circulation. Then bought the United States, "Chicago Sun-Times," and control the press in the influential film and Warner Communications. Murdoch is chairman of Ansett Airlines, the U.S. publishing company chairman, City Post Publishing Company, Chairman, International News Limited. 1981, he served The Times Holdings Limited Vice Chairman, in January 1982 as chairman. Reuters Holdings Inc. in 1984, appointed manager. , He served as general manager of Australia's Murdoch's News Corporation. He founded Murdoch's News Corporation is one of Australia's largest newspaper group, in addition to operating a TV station, the in Australia and the United Kingdom, the United States, New Zealand has dozens of newspapers and magazines. The nineties, Murdoch again in the United States established a CBS (CBS), National Broadcasting Company (NBC), American Broadcasting Corporation (ABC) par written for the three major television networks media kingdom - the Fox television network (FOX ).

Murdoch's personal property has more than 11 billion U.S. dollars. Murdoch married three times, with his first wife Pat gave birth to a daughter shortly after the split. In 1967, Murdoch and then-British "Daily Mirror" reporter, 19-year-old Anna married life together in 32 years, the father of two men and a woman. Murdoch is currently the wife of Chinese woman.

Collection--Jack Welch

November 19, 1935 was born in Massachusetts, Salem City, University of Massachusetts in 1957, received bachelor's degree in chemical engineering, University of Illinois in 1960, received Ph.D. in chemical engineering.

In 1960 joined General Electric (GE) plastics division. By the end of 1971, Welch became GE General Manager of Chemical and Metallurgical Division. In August 1979 to become vice chairman of General Motors. In April 1981, only 45-year-old Welch became GE's youngest chairman and CEO.

At the beginning managered by Jack Welch, General Electric had sales of 25 billion U.S. dollars, earnings of 15 billion U.S. dollars, the market value of listed companies across the United States ranked only 10th, while in 1999, General Electric achieved sales of 111 billion U.S. dollars ) the world's fifth) and 107 billion dollars in profit (the world's first), the market value has been ranked second in the world. Welch first palm GM, the GM's only lighting, motors and power three division maintain its leading position in the market. The Division now has a 12 in their respective markets one of the best, if the individual rankings, General Electric, there are nine Division can be selected for the "Fortune" 500. Welch, GE's helm in 19 years, the company ran all the way Xun and, therefore, for 3 consecutive years in the U.S. "Fortune" magazine, "America's Most Admired Company" Award in the top of the list.

Welch in-house implementation of the "Six Sigma" quality standards, globalization and e-commerce, the implementation of the "no boundaries" management style, to set up integrated personnel system is a model of corporate governance.

2001 ended a period of twenty years in his term of office of GE

After he retires, he lives in Fairfield, Conn.

Henry Ford and his company

Henry Ford



Henry Ford (July 30, 1863 – April 7, 1947) was the American founder of the Ford Motor Company and father of modern assembly lines used in mass production. His introduction of the Model T automobile revolutionized transportation and American industry. He was a prolific inventor and was awarded 161 U.S. patents. As owner of the Ford Motor Company he became one of the richest and best-known people in the world. He is credited with "Fordism", that is, the mass production of large numbers of inexpensive automobiles using the assembly line, coupled with high wages for his workers. Ford had a global vision, with consumerism as the key to peace. Ford did not believe in accountants; he amassed one of the world's largest fortunes without ever having his company audited under his administration. Henry Ford's intense commitment to lowering costs resulted in many technical and business innovations, including a franchise system that put a dealership in every city in North America, and in major cities on six continents. Ford left most of his vast wealth to the Ford Foundation but arranged for his family to control the company permanently.

How many brand Frod product? ( Ford, Lincoln, Mercury and Volvo)
These brands are all belong to Frod family.
Volvo,









Mercury,









Lincoln,














Ford,

Financial Crysis reason from different opinions

http://www.tpbjc.gov.cn/Article_Show.asp?ArticleID=44936
不讲信托责任导致金融危机

　　著名经济学家、香港中文大学首席教授郎咸平昨日在成都进行演讲，他指出“美国金融危机的原因是不讲信托责任”，同时向中国企业家建议搞好“6+1”产业链整合，做好“越冬”的准备。

　　郎咸平开宗明义地说：“美国金融危机的真正原因，是一批市场参与者，尤其是美国的投资银行，只看钱不讲信托责任。”“资本主义的灵魂叫做信托责任，只有在信托责任的基础上，搞市场化，才可以创造价值。这次金融危机的真正原因，是违背了资本主义的灵魂，不讲信托责任所造成的，而不是缺乏监管。”“病去如抽丝。预计欧美经济要逐渐走向萧条，慢慢才会恢复起来。”
(translate by Google
Well-known economist and professor of the University of Hong Kong Chinese Lang give a speech yesterday in Chengdu, he pointed out that "the U.S. financial crisis is a fiduciary duty do not speak," while Chinese entrepreneurs are recommended to do a good job "6 +1" Industry Chain Integration do a good job, "winter" preparation.



Lang started by saying: "The U.S. financial crisis, the real reason is that a number of market participants, especially the United States investment bank, a look at the money do not speak fiduciary duty." "The soul of capitalism, known as fiduciary duty, and only in the trust responsibility, based on a market-oriented before they can create value. the financial crisis, the real reason for this is contrary to the spirit of capitalism, do not speak as a result of fiduciary responsibility, rather than lack of supervision. "" sick to go, such as snag . Europe and the United States economy is expected to gradually move toward recession, will recover slowly. ")

This is the Chinese comments from Chinese economist about the reason of this crysis.


http://economistsview.typepad.com/economistsview/2008/10/what-caused-the.html

An article in the NY Times, "Pressured to Take on Risk, Fannie Hit a Tipping Point," is causing many people to wonder if Fannie and Freddie caused the financial crisis.

First, let me clarify the question. We are asking what caused the housing bubble, and, by definition, the cause cannot be explained by changes in an underlying market fundamental. I don't mean that we can't point to, say, a rumor that led to a rapid increase in the price of some good as speculators rush in, just that bubbles - by definition - are divorced from market fundamentals.

I think a more interesting question is what sets the stage for a bubble to emerge - what allows the rumor, irrational exuberance, etc., to express itself as a bubble? One thing that is needed is liquidity and credit, some way of substantially increasing demand. This is the air that inflates the bubble. Even if all the other conditions for a bubble to emerge are present, if there is no way to inflate the bubble - no way for speculators to rush in and drive up the price - then it won't inflate.

We already know that there was enough available liquidity to inflate a housing bubble. So something went wrong in these markets that allowed the bubble to emerge and then pop, and this is causing us immense problems right now, but what was it?

I think the most important factors are agency problems, the mis-pricing of risk, and the failure of securitization to distribute risks across the financial system.

The mis-pricing and mal-distribution of risk played a key role here (along with poor management decisions in cases where alarms were raised). The agency issues above, and the consequences of the failure to predict and distribute risk are much more important than any moral hazard issues arising from the implicit government guarantee granted to Fannie and Freddie.

Institutions in the shadow banking sector were willing to take large volumes of risky loans as they came up through the system. Why?

The people at the top of this complex chain did not fully understand the risks the were assuming when they took on the subprime business, or, rather, when they took on the complex securities derived from the subprime business. When the bubble popped, it shouldn't have been a big problem if the risk assessment models they relied upon had been correct, and if securitization had distributed the risk as promised. As Brad DeLong notes:

Fundamentally, then, it was the agency problems and the failure of risk prediction and distribution models that allowed the bubble to inflate and then cause big problems after it popped. But back to Fannie and Freddie. The willingness of the non-traditional banking sector - the shadow banking system - to take on these risky assets and still pay investors a relatively high return put tremendous pressure on Fannie and Freddie to follow suit. And their response was unwise - Fannie and Freddie followed the shadow banking sector downward. There is lots to fault in the behavior of Fannie and Freddie and in government oversight of them - the decisions of management, the lobbying efforts that were funded by their ability to extract a premium from the implicit government guarantee - all of this was a big problem. The bubble, and later the financial crisis expressed itself in these institutions, and they may have also contributed to it to some extent as they took on more risky securities when their business began to go elsewhere. But the agency issues and the failures of risk models and securitization would have created problems in the largely unregulated shadow banking sector even if these two institutions had taken on nothing but the safest of mortgages. The bubble still would have inflated in the shadow banking system - maybe it's a little smaller, I don't know - but it still would have been large enough to cause big problems when it burst. The best behavior of Fannie and Freddie would not have been enough to stop the bubble from inflating in other parts of the financial sector, and then turning into a full fledged financial crisis as housing prices plunged.

The problems we are having were caused when lots of available liquidity rushed past the checks and balances that proper agency provides in pursuit of promises that risk models and complex securities did not deliver. The unexpected losses alone might not have caused a crisis had the losses been widely distributed, but, the losses were concentrated and hidden in ways that created widespread fear and threatened the entire system. Getting rid of that fear is not going to be easy.

this is the English edition about reason of crysis by the famous magazine "The economist"




Compare whit two .
The main different is first article indicate the greedy and lace of trust responseblity is root reason of this crysis.
second one analyze the risk management system is the problem cause in lots of huge mistake which could not make up any more before the crysis erupted.

Collection----- Lee·A·Lacocca

This is a legendary figure in every month there are hundreds of organizations, has invited him to lecture. Regardless of which city in the United States as long as he appeared, there are many people around him, and asked him to autograph, as if he is a big star.

He is indeed a star, a shiny corporate star. He was general manager of Ford Motor Company is also the general manager of Chrysler, 60-year-old.
In August 1946, 21-year-old Iacocca to the Ford Motor Company became a graduate trainee engineers. However, he did technical work uninteresting. He wants to engage in distribution, and people like to deal with, rather than the machine companion. Boss, of course not happy, but because of his insistence, the company finally compromised, and he became a salesman.

On one occasion, in this region, 13 district in the worst lacocca sales. To this end he was feeling depressed, Charlie put his hand on his shoulder, said: "Why dejected? Always have someone to quest for the last one, and why such a worry!" And he walked away, but he turned around and said: "But you listen, but do not get two consecutive months, the last one!"

Under his inspiration, Iacocca had an inspiration, came up with a wonderful way to sell cars: Who purchased a 1956 model Ford cars, as long as paying 20% of the purchase price, and the rest to pay 56 U.S. dollars a month, 3 year paid. In this way, the average consumer can afford. Iacocca to this approach is called "Flower 56 per buy 56 model Ford truck."

The ad slogan like a rocket generally subject to people's attention. Only 3 months, lacocca Bottom of soared from the original sales momentum, jumped door top. He was vice president at the time McNamara (later United States Secretary of Defense) is appreciated in the country to promote his approach, and improve him as head of Ford's vehicle sales corporation.
July 13, 1978, he was jealous of the big boss Henry Ford fired. When the 8-year general manager, at Ford has been 32 years, smooth sailing, has never worked in other places, suddenly lost their jobs.

He wanted to murder - but it is not clear to kill the Henry Ford to dismiss him, or kill themselves. Homicide or suicide is meaningless, he began to drink, lost confidence in themselves that they have to completely collapsed.

He accepted a new challenge - recruited to the brink of bankruptcy, Chrysler Motor Corporation as General Manager.

At that time, many large companies such as Lockheed Martin, International Paper, have been issued against him the invitation. But Iacocca believes that 54-year-old is an awkward age: too young to retire, then start all over again in other industries too old; Moreover, all the cars have been in his blood flowed. Therefore, he chose the automobile industry, the old Xingdang.

Iacocca, who in the world's second largest auto company became the general manager of 8 years career strong, with his wisdom, courage and dedication, the drastic reorganization of the enterprise reform, to the government for help, war of words members of Congress, has made huge loans to revive corporate glory.

Chrysler faces in the darkest period of days to create the Model K program like a ray of hope in the endless night. It finally succeeded. This car allows passengers very comfortable, only four-cylinder will be able to run very well. Although it is a small car, but the first time ever to enter six individuals, and small size, line the United States.

The introduction of the Model K, so that Chrysler back from the dead, so that the company literally to become in the United States behind General Motors Corp., Ford Motor Company's third-largest car company.

Collection----- Steve Jobs (apple)

Steve - Steve Jobs (Steve Jobs) was born in 1955. After graduating from high school in 1972, in Poland a university semester only read a book. 1974 Jobs in a computer game design companies to find work. Two years later, when the 21-year-old and 26-year-old Jobs Wociniaike in the Jobs family garage set up Apple Computer. They developed the Apple II with 4 K of memory, users use their TV as a monitor, and this is the first in the market to sell personal computers.

Jobs later said: "I am very lucky, when the computer still a young industry, I entered this field. Degree with a computer was a few people are employees from physics, music, zoology, and other fields halfway monk talents. they are very interested in this, there's no money into a computer to the industry. "in November 1980, Apple stock rose to 22 dollars per share, Jobs and Wociniaike overnight become millionaires. 1986 Jobs bought Pixar digital animation companies. The company has become popular animated film "Toy Story" and "bugger crisis" in the production of manufacturers, it is Jobs, 44-year-old career in the second peak.

In 1996, Jobs, Apple's re-employment as a part-time consultant. At this time Apple has experienced the constant change of senior leadership and poor management, its operating conditions deteriorating, financial income began to shrink. September 1997, Jobs returned to the company as chief executive officer, he conducted dying Apple drastic corporate restructuring and a series of new product sales are measures. Finally in the fourth fiscal quarter of 1998 to create a 109 million US dollars profit, and making the "Apple" to "red" up. Apple's most popular products is the latest listing of the iMac. The All-In-One fuselage blue transparent multimedia computers, according to company statistics, the iMac orders have been as high as 15 million.

Jobs has said: "When I return to Apple, the situation worse than I expected. Apple's staff is considered a group of losers, they will give up almost all their efforts. In the first six months, I have always thought to concede defeat. in my life has never been so tired, I am 22:00 minutes back home and went straight to bed one day 6:00 McGREGOR sleep, and then get up, shower, go to work. wife gave me great support , then how commended her not too. "

Jobs assumed office did not quickly cut off the characteristics of the business. He told his colleagues, not to ensure that every decision is correct, as long as the majority's decision can be correct. There is no need to fear. There are many difficult decisions to make, such as chopped Motese business, in today seems very sensible, but when a decision is the original fear.

Jobs has a popular style of management, many Apple staff with the most dare not and he took the escalator, fearing that the lift shall not sit End sacked. But, now middle-aged, he's disposition has been a lot of harmony. He said: "I tell you one can change the way you look at the examples. Once you have children, they will automatically aware everyone is born to parents, it should be someone like love their children as love them, listen to this is not so difficult, but many people ignore this point. now for me to dismiss Apple's staff than in the past, much more painful, but I have no way, this is my work, and I put ourselves in their imagination to go home tell their wives and children employed by the scene, as I have never been so emotional. "happy family Jobs is perhaps another reason for the success of the cause.

Jobs spent a lot of time looking for the past to generate new technology products, but now, because the reasons for the work, it is impossible for in-depth study. He said that sometimes in, will be out some unexpected points in peacetime. He news on the Internet site of the six registered every day to receive about 300 copies of e-mail, some Subuxiangshi people on the inside talk about their new idea.

After years of work later, Jobs said: "Too many things is regrettable, but the biggest regret than those you have not to do. Earlier that if I understand the reason now, I can do things some do better, but what happened? key is to grasp now. life is short, we will soon come to an end, this is the reality. "

Now Apple's business objective is to become the computer industry, "Sony." Apple is the only engage in both hardware and software engage in production of the full set of personal computer products company. This means that Apple could introduce a easy-to-use system, which is a reliable company for consumers capital. Jobs said technology is not the most difficult, how difficult is the goal of the products and consumers. Apart from the electronics, technology and production capacity, you must also have a very strong marketing capability. Experts believe that although Apple's surplus compared with the past have been greatly improved, but Microsoft and Compaq face similar strong competitors such as Apple still in the camps will not be step by step from the failure.

Always listen to the needs of consumers, with great enthusiasm implementation of the "ordinary people in the advanced computer and help bridge the gap between" the country, Jobs is the most terrible weapons. Both in the Apple technology to create art, or create art technology Pixar, Jobs have worked very hard to try to make his dream a reality: a computer tool to help fill technology and the gap between art.

Collection----- Rockefeller

Rockefeller centre


biography:
John Rockefeller (1839 ~ 1937), the United States oil king, Rockefeller, founder of the consortium. 1853 from the New York State Richford moved to Cleveland to run operating hay, meat by .1863, the charge d'affaires build the first oil refinery, the franchise after the oil industry. 1870 with the Office of Exxon and - Mobil Oil, and in 1880 a virtual monopoly in the oil industry, and formed the United States first big Trust. In 1892 the Court ruled Mobil Oil Trust for illegal monopolies, he was forced to property transferred to a branch name, but still focus on the original board of directors. 1899 will jointly set up branch offices in New Jersey Mobil Oil. During his lifetime amassed a great deal of wealth, the establishment of the University of Chicago, had made donations and charitable organizations. If John D Rockefeller (1839 ~ 1937) also still alive, he converted to the value of today's dollars of about 200 billion - in 2003 "Forbes" billionaire list, at that time the world's richest man Bill Gates for value 40.7 billion US dollars. Stroll the streets of New York, you can taste the Rockefeller family anywhere past glories: JP Morgan Chase Bank, the Rockefeller Center, the Rockefeller Foundation, the Museum of Modern Art, in the field of life sciences in the world forefront of the Rockefeller University. Penicillin can even become a popular generic drugs, but also great with the Rockefeller and his family origins.