8 Business Principles That Never Go Out of Style
Some business principles come and go. A company I worked for started so many game-changing transformational programs and then, like a disgraced member of the Politburo, quickly abandoned and airbrushed them out of our corporate history so we could start yet another “business-critical” program that would be abandoned. We referred to them as the “acronym of the month.” Fortunately, there are some business principles you can use forever: 1. Look past the messenger and focus on the message. When people speak from a position of power or authority or fame, it’s tempting to place greater emphasis on their input, advice, and ideas. Warren Buffett? Yep, gotta listen to him. Sheryl Sandberg? Yes. Richard Branson? Absolutely. That approach works to a point–but only to a point. Really smart people strip away all the framing that comes with the source–both positive and negative–and evaluate information, advice, and input idea based solely on its merits. (MORE: Job Interviews Can Tell ...
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Liberty’s Virgin Deal Sets Up Media Clash Between Malone and Murdoch
Liberty Global’s $16 billion deal to buy British cable group Virgin Media will create one of the largest broadband companies in the world, and will pit Liberty mogul John Malone in a clash of the media titans against longtime rival Rupert Murdoch and his News Corp. conglomerate. The deal is further evidence that the media and tech mergers and acquisitions market is revving up to levels not seen since the financial crisis. Earlier this week computer giant Dell announced plans to go private in a $24.4 billion deal. Virgin Media is the number two pay-TV company in the U.K. behind BSkyB, which is majority controlled by News Corp., so the merger instantly pits Malone against Murdoch in the European media market. The Financial Times was first to report news of the impending deal, which is worth a total of $23 billion including debt. Virgin Group’s Richard Branson, the colorful billionaire impressario, stands to make about $316 million from the Liberty takeover. Liberty Global already ...
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Virgin Finally Hooks Up: Why Richard Branson Made a Deal With Delta
Look up flights to London Heathrow from New York City airports on Kayak or Travelocity for departure next week and there appear to be about 400 non-stops daily, with most round trips in the $1,300 to $1,700 range. The number of flights is deceiving, though, and so is idea that there’s that much competition, because most of the departures are code-shares. A British Air flight is the same one offered by American Air and Iberia; Delta, Air France and KLM cohabit another listing, while United teams with Lufthansa. It’s the kind of market cooperation/collusion that has driven Virgin Atlantic founder Sir Richard Branson up the wall for decades. But it’s also the driver behind’s Delta’s $360 million deal to acquire the 49% stake in Virgin Atlantic currently held by Singapore Airlines. Branson, the prankster-in-chief at Virgin Atlantic and myriad other businesses, has railed against BA and American in particular for trying to control competition on the valuable New York-Heathrow route, ...
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Fed's Fisher urges U.S. government to act on employment
FRANKFURT - Dallas Fed President Richard Fisher, a top U.S. Federal Reserve official, on Thursday urged the U.S. government to give businesses more of incentives to invest the use liquidity the central bank has provided to create jobs.
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Reuters
CFPB Takes on Debt Collectors With New Oversight
Last week, the Consumer Financial Protection Bureau said it would begin regulating debt collection companies starting at the beginning of 2013. “We now find that debt collection is a central issue of our times,” director Richard Cordray said. The stats are indeed sobering: Debt collection is projected to be nearly a $13 billion business this year, and 30 million Americans have an average of $1,500 in debt that collectors can come after. Collection companies, meanwhile, are coming up with increasingly creative and heavy-handed ways to claw back those dollars. The CFPB says it’s going to look at the disclosures that debt collectors provide; the accuracy of the information they use; whether or not they have a process for handling borrower disputes; and “whether debt collectors have harassed or deceived consumers in pursuit of debt.” It plans to focus on 175 of the industry’s biggest players, which together make up about 60% of the market. In particular, the agency plans to examine ...
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