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June 2, 2013

China drawn to Mexico’s opening economy

Filed under: Gold, management — Tags: , , , — DoctorBusiness @ 12:10 pm

China has invested heavily in resource-rich Latin America in recent years, striking major trade deals with governments from Venezuela to Argentina. Now its president is reaching out to one of the few countries in the region where ties have been slow to develop: Mexico.

President Xi Jinping’s three-day visit starting Tuesday comes as Mexico debates opening its highly regulated energy sector to more foreign investment.

China’s president has said he plans to address Mexico’s large trade deficit with the Asian power and discuss ways to increase Mexican exports. Analysts say that could mean oil, which Mexico has and China needs to fuel its expanding economy and the cars of its growing middle class.

“Access to strategic raw materials is key to understanding the dynamic of relations with China,” said Hugo Beteta, director for Mexico and Central America of the United Nations Economic Commission for Latin America and the Caribbean. “Clearly there is an interest by China in Mexican oil.”

The trip is part of a four-country regional tour that ends in the United States. Xi started in Trinidad and Tobago, where he also met with leaders of other Caribbean countries, and he arrives Sunday night in Costa Rica.

China and Trinidad have had diplomatic ties for almost 40 years, and Trinidad is a major trading partner in the Caribbean for China. Costa Rica is the only country in Central America to have diplomatic relations with China.

U.S. trade still dwarfs China’s for the three countries Xi is visiting. But China’s trade with Costa Rica and with Mexico has tripled since 2006, according to the International Monetary Fund.

Relations with Mexico had been chilly in the past, especially when former President Felipe Calderon hosted the Dalai Lama in 2011, something China’s Foreign Ministry said “hurt the feelings of the Chinese people and harmed Chinese-Mexican relations.”

President Enrique Pena Nieto, who took office in December, has been aggressive so far about changing that, and the two new presidents reportedly hit if off on a personal level when Pena Nieto visited China and met with Xi in April. That resulted in an unusually quick diplomatic follow-up, just two months into Xi’s presidency.

During the April talks, Xi said “he is committed to working with Mexican authorities to help Mexico export more,” Mexico’s vice minister of foreign relations, Carlos de Icaza, told The Associated Press.

That’s key for Mexico, because its trade deficit with China is exploding, far surpassing that of any other Latin American nation.

While China is looking to assure supplies of raw materials, Mexico is looking to diversify its trade and investment, which have long been dominated by its superpower neighbor to the north.

“In the new global geopolitical and economic map, China is, and I think it has arrived to stay, the world’s second economic power,” De Icaza said. Mexico “has to understand and strengthen relations with a nation that has such great strategic value.”

De Icaza said the countries hope to sign at least a dozen agreements in the fields of trade, energy, tourism, science and technology during Xi’s visit.

Mexican exports to China came to a bit over $5.7 billion in 2012, while its imports from that country stood at almost $57 billion, according to statistics from Mexico’s Economy Department. Cell phones, video games and parts for electronics factories have been pouring into Mexico, which sends China minerals such as copper and lead.

Overall trade between China and Latin America has expanded quickly over the past decade and the continent now imports more from China than it does from the European Union, according to the U.N. economic agency for the region.

Many countries balance those imports by sending China raw materials: oil from Venezuela, copper from Chile, soybeans from Argentina. But Mexico’s exports go overwhelmingly to the huge U.S. market right on its border.

Beteta noted that China imports three-quarters of the oil it consumes.

“China needs to guarantee oil for its citizens’ cars, but also obviously for its economy as a whole, which has a high energy intensity, and Mexico is an oil power,” he said.

At the same time, Pena Nieto’s government has said that it will soon present an energy reform bill to allow greater national and international investment in its oil sector. It hasn’t revealed the details of the initiative, but Beteta said it “has awakened the appetite of many people.”

State oil company Petroleos Mexicanos, or Pemex, already has taken small steps to increase its relationship with China, which until recently had been minimal.

Of the roughly 2.5 million barrels of crude that Pemex produces a day, about 1.2 million are exported. Energy ministry figures show that 75 percent of these exports go to the United States and about 7 percent to the “Far East.” It does not specify how much each specific country in that region receives.

In April, during Pena Nieto’s visit to China, Pemex signed its first long-term contract with a Chinese company, agreeing to ship 30,000 barrels a day to the state oil company Sinopec.

Mexico may have other goods and investment opportunities to offer as well.

“China is the principal consumer of coal, gas, oil, of secondary industries like cement, steel, concrete,” said Juan Carlos Rivera, director of the Center for Business with Asia at the private Monterrey Technological Institute. “Evidently (China) is looking to satisfy their market needs.”

Costa Rican President Laura Chinchilla said her country is looking for agreements in the areas of clean energy, public transportation and student exchanges after Xi arrives Sunday. The government also wants to give a final push to negotiations for the joint construction of a $1.3 billion refinery on Costa Rica’s Caribbean coast.

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May 31, 2013

Oil falls below $92 on high supplies, OPEC output

Filed under: Gold, marketing — Tags: , , , — DoctorBusiness @ 9:14 pm

The price of oil fell 2 percent to its lowest level in a month after OPEC stuck to its current production target despite ample supplies of crude.

U.S. crude oil futures fell $1.64 to close at $91.97 Friday in New York. Brent crude, a benchmark for pricing oil used by many U.S. refineries to make gasoline, fell $1.80 to close at $100.39 in London.

The average price of a gallon of gasoline in the U.S. slipped less than a penny to $3.61 per gallon. Prices rose 10 cents during May, or 3 percent, mainly due to refinery problems in the Midwest. Still, May prices averaged less this year than they did in either of the last two years, according to AAA.

The automobile association expects the average price of gasoline to continue to slide, and fall below $3.50 a gallon in June.

The Organization of Petroleum Exporting Countries said Friday it would keep its official output target of 30 million barrels a day _ one third of the world’s daily consumption _ even though world oil supplies are abundant and some regions, including the majority of the European Union, are in recession.

At the end of a meeting at its headquarters in Vienna, OPEC said that steady prices in recent months showed that the market was “adequately supplied” and that no action was needed.

Oil prices have traded in a range between $88 and $98 per barrel through the first five months of the year. The average for the year is $94.01 per barrel, just 13 cents less than the 2012 average.

OPEC has been producing more oil than members agreed to, helping to boost global supplies. Analysts say that could lead to lower prices in the coming months.

“In view of the current oversupply and in the absence of any positive surprises from OPEC, oil prices are likely to remain under pressure,” said analysts at Commerzbank in Frankfurt.

Prices are also being pressured by weak economic outlooks around the world. When economies slow, drivers, shippers and travelers use less gasoline, diesel and jet fuel.

Unemployment in the 17 countries that use the euro rose to a record 12.2 percent in April, according to data released Friday. The region is mired in its longest recession since the shared currency was introduced in 1999.

The U.S. economy, meanwhile, grew at a modest 2.4 percent annual rate from January through March, slightly slower than initially estimated. That, teamed with higher oil production and the use of more fuel-efficient vehicles, has sent the nation’s oil supplies soaring.

The U.S. Energy Department said the nation’s supply of oil rose last week by 3 million barrels to 397.6 million barrels, the highest level since the government started collecting the data in 1978.

In other energy futures trading on the New York Mercantile Exchange:

_ Wholesale gasoline fell 5 cents to close at $2.76 a gallon.

_ Heating oil fell 6 cents to close at $2.78 per gallon.

_ Natural gas fell 4 cents to close at $3.98 per 1,000 cubic feet.

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May 30, 2013

Is Tesla running on fumes?

Filed under: Uncategorized, management — Tags: , , , — DoctorBusiness @ 8:10 am

) shares raced above $110 on Tuesday, up from $35 just three months ago. The stock has risen six-fold since its initial public offering in 2010.

“There seems to be some euphoria,” said Takuo Katayama, an analyst at Daiwa Capital Markets. “I don’t want to say it’s unjustified, but it’s getting there.”

The momentum kicked into high gear this month after Tesla reported a quarterly profit for the first time and its Model S received rave reviews from an influential trade publication.

Tesla also recently announced that it had repaid its government loans after raising $830 million in a secondary offering of stock and bonds.

The sale of new stock by a hot company usually leads to a temporary pullback after the additional shares hit the market. But Tesla’s shares continued to rise following the offering.

“It’s baffling,” said Katayama.

The rally was partly driven by investors buying back shares to cover bets that the stock will fall. But this so-called short squeeze was triggered by news that Tesla is on track to meet its sales goals for the year, said Ben Schuman, an analyst at Pacific Crest Securities.

Tesla said in a letter to investors earlier this month that it was seeing “strong global demand” for the Model S, and is currently receiving orders “at a rate greater than 20,000 per year worldwide.”

Schuman said the stock could continue moving higher on upbeat headlines, including a rumored announcement on battery charging and the launch of the Model S in Europe and China later this year.

“All that said, the current stock price reflects flawless execution and has likely gotten ahead of itself,” Schuman cautioned.

Tesla is expected to merely break even this year quick payday loan. Schuman said Tesla’s profits in the first quarter were boosted by $11 million in accounting gains linked to warrants on government loans and emission credits Tesla received in California.

“When you back out those non-operational items, Tesla is still losing a lot of money,” said Schuman.

Still, investors are pricing the stock based on the expectation that Tesla will become a large-scale and profitable auto maker in the future, said Andrea James, an analyst at Dougherty & Company.

“Tesla is not trading the way normal auto company would,” said James. “But that’s fitting because it’s not a normal auto company.”

Shares of Tesla trade for more than 110 times 2014 earnings estimates. To put that into context, , Fortune 500) and , Fortune 500) are each valued at less than 10 times profit forecasts for next year. Japan’s ) and ) trade at price-to-earnings ratios in the mid-teens.

James said some investors believe Tesla shares could hit $120 in the near term based on expectations for the Model S and future Tesla vehicles, which are rumored to cost less than the Model S.

“The valuation is not crazy,” she said. “With these kinds of forward looking companies, the stock is always a few steps ahead.”

James added that investors have also been encouraged by the leadership of Elon Musk, who founded the company in 2003 and is Tesla’s largest shareholder. He is also the largest shareholder in clean energy company ), another stock that has soared this year.

“People used to ask me, ‘who is this guy?’” said James. “Now, investors are saying, ‘do I want to bet against Elon Musk?’”

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May 28, 2013

Murder victim Trayvon Martin

Filed under: money, technology — Tags: , , , — DoctorBusiness @ 7:06 pm

MIAMI—Defence lawyers for George Zimmerman, who is charged with second-degree murder in the killing of Trayvon Martin, will be barred from mentioning Martin’s marijuana use, fighting or high school suspension during opening arguments in Zimmerman’s trial, which begins June 10.

At a hearing in Seminole County court, Circuit judge Debra Nelson denied a string of defence motions Tuesday that sought to portray Martin as a troubled teenager with a propensity for fighting and an interest in guns. Prosecutors argued the evidence has nothing to do with the seven minutes that led to Martin’s death on Feb. 26, 2012. Martin, an unarmed 17-year-old, was killed by Zimmerman, who said he shot him in self-defence.

Mark O’Mara, a lawyer for Zimmerman, argued in court that Martin’s drug use could have made him more aggressive and paranoid, traits that could have prompted him to attack Zimmerman.

“All of that fits in squarely to what the defence is going to present: that George Zimmerman was put in the position that he had to act in self-defence,” O’Mara argued. “How could you keep us from arguing that?”

Nelson replied: “The rules of evidence keep you from doing it.”

The judge left open the possibility that some of this information, including Facebook postings and text messages, may come up at trial, but she set a high hurdle for the defence. Nevertheless, O’Mara viewed the decision as a victory, saying that it forces prosecutors to be careful in how they portray Zimmerman.

“You get ready for whatever battle they may throw at you, with the hope that most of your weapons stay in your quiver,” O’Mara said at a news conference after the hearing.

Nelson also called it a “logistical nightmare” to allow jurors to visit the gated community in Sanford, Fla., where Martin was shot. She denied that request. O’Mara said he wanted jurors to get a feel for the dark cut-through between two rows of townhouses in the spot where Martin was shot.

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May 27, 2013

Rockets hit south Beirut after Hezbollah vows pro-Assad victory in Syria

Filed under: Mortgage, news — Tags: , , , — DoctorBusiness @ 4:10 am

BEIRUT—Two rockets struck the southern reaches of Beirut early Sunday, raising fears that spillover violence from the conflict in neighbouring Syria could be spreading to the Lebanese capital.

Four men were injured in the rocket strikes, officials said. All the injured were Syrian labourers at a used-car lot where one of the rockets struck. The other shell hit a nearby apartment building.

Authorities said the Grad rockets — known to be notoriously imprecise — were launched from an area about 10 kilometres away.

The attacks targeted a district where the Shiite militant group Hezbollah is a dominant force. That prompted speculation that the assault was linked to Hezbollah’s role in supporting Syrian President Bashar Assad in his nation’s civil war.

On Saturday, Hezbollah leader Hassan Nasrallah gave a fiery speech vowing “victory” in Syria and pledging all-out support to Assad’s government. Many Sunni Muslims in Lebanon back the rebellion against Assad and resent Hezbollah’s intervention in the Syrian conflict free business cards.

Various Lebanese politicians condemned the attacks as an attempt to foment sectarian strife.

Until the Sunday morning strikes, Beirut had been largely immune from violence associated with the Syrian conflict.

In northern Lebanese city of Tripoli, however, running gun battles between pro- and anti-Assad factions have killed at least 25.

In another development, a rocket was fired from southern Lebanon towards Israel late Sunday night.

Lebanon’s state-run National News Agency said the rocket was fired from a location near the southern town of Marjayoun, about 10 kilometres north of the Israeli border. It was not immediately clear who fired the rocket or whether it caused any damage or casualties.

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May 25, 2013

House immigration group resolves dispute

Filed under: Homes, Mortgage — Tags: , , , — DoctorBusiness @ 5:46 am

House members writing a bipartisan immigration bill said Thursday they had patched over a dispute that threatened their efforts, even as they and the rest of Congress prepared to return home for a weeklong recess where many could confront voters’ questions on the issue.

The eight lawmakers in the House immigration group have struggled for months to come to agreement on a sweeping bill that would have a chance in the GOP-controlled House while satisfying Democrats’ objectives.

Talks almost broke down last week, only to resurrect and then break down again this week over the question of providing health care for those here illegally who would gain legal status under the bill, lawmakers and aides said.

Republicans in the group want to ensure that those immigrants don’t get taxpayer-funded care and could be subject to deportation if they don’t pay their health bills, said Rep. Raul Labrador, R-Idaho, a member of the group. But an agreement reached last week on that question apparently sparked concern among House Democratic leaders, causing Democrats in the group to back away.

After meeting Thursday afternoon in the Capitol, the lawmakers said they were back on track. Labrador said agreement remained that immigrants shouldn’t get taxpayer-funded care, but he said there had apparently been a misunderstanding that led Democrats to fear emergency care could be denied to immigrants.

“I think maybe there was some confusion about some details, but I think we’re all good,” Labrador told reporters.

“I’m very pleased,” said Rep. Luis Gutierrez, D-Ill., also part of the group. “We’re going to get there. There’s going to be justice done for our immigrant community.”

The developments with the House group came two days after the Senate Judiciary Committee passed a comprehensive bill with a bipartisan vote to remake immigration laws, enhance border security and put the estimated 11 million people living here illegally on a path to citizenship.

The full Senate is to take up the legislation in June. Supporters are hoping to see the bill pass by a wide margin, with as many as 70 votes in the 100-member Senate.

That’s seen as a way of pressuring the House to act. If the Senate does pass a bill, it’s likely to be more liberal than what the House group might produce and more to the liking of many liberals in the House, including some of the Democratic leadership.

But House Speaker John Boehner, R-Ohio, issued a statement along with his top lieutenants Thursday promising the House would act on the issue, but making clear House members would not accept any bill passed by the Senate.

“The House remains committed to fixing our broken immigration system, but we will not simply take up and accept the bill that is emerging in the Senate if it passes,” the statement said.

“The House will work its will and produce its own legislation,” it said.

Officials said Boehner has privately said he hopes to have a bill through the House by August, though there is no strategy yet on what it would include. They spoke on condition of anonymity to discuss private deliberations.

Meanwhile House Judiciary Committee Chairman Bob Goodlatte, R-Va., pressed forward with his approach of introducing narrowly focused, single-issue bills on immigration, unveiling one Thursday to deal with the high-tech industry and boosting visas for highly skilled immigrants. And illustrating divisions among Democrats in the House, Rep. John Barrow, a conservative Georgia Democrat, introduced his own immigration bill focused on border security without any offer of citizenship to those here illegally.

Before Congress takes its next steps on the volatile issue, lawmakers will spend a week in their home states and districts for the Memorial Day recess. So far opposition to the immigration legislation has not materialized with the fury it did during Congress’ last attempt on immigration reform, in 2007. But this recess will be an important opportunity for many lawmakers to hear from their constituents on the issue at an important juncture in the debate.

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May 23, 2013

Turkey debates alcohol sales and ad restrictions

Filed under: news, online — Tags: , , , — DoctorBusiness @ 4:46 pm

Turkish lawmakers on Thursday began debating a bill that bans all alcohol advertising and tightens restrictions on sales of such beverages _ a proposal the government insists is aimed at protecting the young from the ills of spirits but which secularists say is an example of the Islamic-based ruling party’s encroachment on personal freedoms.

The proposal bars the sale of alcohol anywhere within 100 meters (yards) of mosques, schools and other educational centers, which could lead to the eventual cancellation of several establishments’ alcohol licenses. Advertising alcoholic products in any form would also be banned, and there would be stricter penalties for drunken driving.

Prime Minister Recep Tayyip Erdogan, a pious Muslim whose ruling party is rooted in Turkey’s Islamist movement, has made no secret of his aim to curtail alcohol consumption in this predominantly Muslim, but secular country, saying it is his constitutional duty to protect the well-being of the young.

Islam prohibits the consumption of alcohol.

Since coming to power in 2002, the ruling party has imposed high taxes on alcoholic beverages, banned television ads and forbidden drink companies from sponsoring sports events. Turkish Airlines, the country’s national carrier, recently stopped serving alcoholic drinks on some of its flights.

Secular opponents of the bill say Erdogan _ who is sometimes accused of authoritarian tendencies _ is increasingly meddling in more liberal lifestyles. They say the measure is an affront to personal choices, and some accuse his ruling party of trying to gradually impose an Islamic agenda.

“No one can be forced to drink or not to drink. This is a religious and ideological imposition,” Musa Cam, a legislator from the secular, main opposition party said in a speech in Parliament low interest rate personal loans. “This is not a struggle against the ills of alcohol but is an attempt to re-design the society according to their belief and lifestyle.”

Under the bill, alcohol companies would no longer be allowed to promote their brands and logos, while all liquor bottles sold in Turkey would display warning signs about the harms of alcohol, similar to those found on cigarette packages.

London-based spirits company, Diageo, which acquired Turkey’s leading drinks company, Mey Icki, in 2011, released a statement Thursday saying that it shares the government’s concerns about alcohol consumption but that it was seeking a meeting with officials to “present alternative views” on “fair, balanced and responsible” regulation.

The company added that it had bought Mey Icki believing it was investing in a country “that encouraged foreign investments.”

Erdogan frequently cites Turkey’s constitution in saying that the state is responsible for protecting the young from alcohol, drugs and gambling and insists he is committed to secular politics and to Turkey’s bid to join the European Union.

In a conference addressing policies on alcohol in April, Erdogan caused an uproar by declaring that ayran, a watered-down yogurt drink, was Turkey’s national drink, contrary to the widely held belief that raki _ an aniseed-based alcoholic drink _ was the nation’s traditional beverage.

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May 22, 2013

Via Rail adopts airline pricing model

Filed under: Europe, Uncategorized — Tags: , , , — DoctorBusiness @ 5:34 am

Train fares used to be almost as standard as train schedules, with predictable discounts for booking a month or a week in advance or on a weekday.

Lately train fares look a whole lot different, with VIA Rail offering $127 last-minute return fares between Montreal and Toronto, taxes in.

That’s cheaper than half-price fares on Porter Airlines, which sometimes runs $200 return fares, taxes included, between the two cities.

The cheapest VIA fare between Montreal and Ottawa is $29 one way, $33.34 with taxes.

That’s because VIA has ripped a page from the airline handbook when it comes to setting fares. Now they’re handled like airline ticket sales – some tickets go high, some tickets go low, depending on the month, the day, even the hour of travel.

“We decided we wanted to develop a revenue-management team and follow the airline model. We put a team together of people experienced in that area, some from the airline industry,” said Steve Del Bosco, chief marketing and sales officer for VIA Rail Canada.

He said customers have accepted the change well.

“The airline style of pricing is I think, pretty much understood in the public and it’s expected.”

The system is called revenue management, and hotels, car rental agencies and airlines have been using it for years.

It means doing everything to get as many people on a trip as possible, at the highest fare the market will bear in each fare category.

Revenue management computer software optimizes pricing itineraries every day, crunching historical booking data and current market conditions to respond quickly to shifts in market conditions and maximize returns.

The system was implemented at VIA last June, helping drive an increase in ridership of 10.4 per cent in the Montreal-Ottawa-Toronto triangle in the last quarter of 2012, compared to a year earlier, according to the Crown Corporation’s annual report.

“It helps us push people to trains where we know we have room, and have people pay more for trains we know are in high demand,” said Del Bosco.

The new system allowed VIA to eliminate advance purchase requirements for discount fares and launch a new economy fare to attract more customers who may have otherwise have travelled by car.

The railway has also benefitted from making schedule adjustments across networks, reducing the number of trains in markets where ridership was low, and reallocating resources to markets where demand is high and growing.

It’s added free Wi-Fi for all passengers and simplified Web booking. It’s ramped up its social media campaign – offering free cross-Canada tours to people who Tweet about the contest.

The revenue management system has also helped boost ridership and revenues on some of the more expensive routes, popular with Canadian and foreign tourists.

The new system allows VIA to offer promotions of 50 per cent off, and occasionally, 75 per cent off.

“We manage the inventory so we don’t discount every single seat. Last time we looked, 20 per cent were sold at a discount. Our average fares have been maintained very well,” said Lynn Lefebvre, product manager for VIA long-haul services.

In 2012, 112,000 passengers took The Canadian, compared to 109,000 in 2011; and 106,000 in 2010.

Competition through the Rockies comes from the privately owned Rocky Mountaineer train travel service, which runs rail tour packages in Western Canada that start at $900 per person for two days.

“My feeling is that any way that VIA can increase ridership and maximize revenue is great, so I’m open to flexible fares,” said Jason Shron, president of Rapido Trains Inc., Canada’s largest model train company and a board member of the Toronto Railway Historical Association.

Shron often travels by train with his family.

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May 20, 2013

How local companies are helping women execs ‘lean in’

Filed under: Europe, marketing — Tags: , , , — DoctorBusiness @ 2:42 pm

New mom Christina Renz picked up the phone to call her boss when she was a sleep-deprived, emotional wreck. She was due back at work in a few weeks.

“I don’t think I can do this,” she said to Susan Eickhoff, a partner at St. Louis-based public accounting firm KPMG.

“Don’t make any rash decisions,” Eickhoff said to her. “Bring the baby and meet me for lunch.”

In a stark example of how the conversation about motherhood and work has started to change in corporate America, Eickhoff immediately cleared her schedule and spent the next three hours with Renz at Seamus McDaniel’s in Dogtown. She told her the ways in which the company would help Renz balance motherhood and work by allowing a more flexible schedule. Most of all, Eickhoff commiserated and encouraged Renz using her own personal experience.

When Eickhoff had her first child 12 years ago, she didn’t have a female executive mentor to turn to when she felt overwhelmed.

“I had to walk myself off the ledge,” she said.

The firm and culture have come a long way since then, she said. KPMG recently launched a Moms Who Know initiative in which working moms mentor younger moms, expectant mothers or those just considering motherhood.

Sheryl Sandberg may have drawn national attention to the conversation about the lack of female executives with her book “Lean In: Women, Work and the Will to Lead.” But some local corporations and female entrepreneurs and executives say a cultural shift has been underway for years. Some say the book has taken the conversation to a new level.

Arvetta Powell, director of diversity and associate experience at Build-A-Bear Workshop Inc., says 95 percent of the company’s associates take advantage of a compressed schedule that allows them to have every other Friday off. About 85 percent of the company’s employees are women, and she says the company embraces a child-friendly culture and flexible scheduling for working mothers.

“You have a more productive workforce. … It helps with retention. It helps with recruiting,” Powell said. On a personal level, she says she sometimes struggles with feelings of guilt when she has to travel or work nights or weekends. She has learned to communicate with her supervisor when she needs help and has found small ways to stay connected with her 9-year-old daughter when her work schedule is busiest.

When Powell left on a three-day business trip in November, she included a note in her daughter’s lunch box that said: “Mommy loves you, and I can’t wait to see you. Have a great day.” Powell was recently cleaning out her daughter’s lunch box and found her daughter had kept the note for months.

“It made me feel very, very special,” she said, because she realized how much it had meant to her daughter.

Looking for ways to achieve that elusive sense of balance when juggling dual duties has been a familiar refrain for most working mothers. Sandberg argues in her book that women struggle with working-parent guilt more so than fathers.

Cindy Goodwin-Sak, a board member with the Professional Women’s Alliance, picked Sandberg’s work as a book club selection this month. The group decided to make the book club a panel discussion of five local female business leaders and opened the event to 60 women payday loans. Within 24 hours, they had 70 registrations. They changed the venue to the Edward Jones building in Des Peres to accommodate more guests, and at least 160 women attended the event on Wednesday.

“I had no idea there would be this kind of response,” Goodwin-Sak said. She is a manager at Cisco Systems, where CEO John Chambers has said he had his eyes opened to women’s issues by reading Sandberg’s book. He made it required reading for all senior managers. He has instructed them to find ways to promote more women into leadership roles, she said.

“It sparked conversations that weren’t happening,” Goodwin-Sak said, and made men part of that conversation.

Cindy Teasdale McGowan, who founded and is majority owner of Makaboo, a personalized baby goods store in St. Louis, says while her four employees are women, her team of investors includes men.

“It’s been eye-opening for them to see this larger conversation happening across all companies,” she said. She talked about her ambitions with a wry laugh: “I want to ‘lean in’ and grow this business big enough that I can sell it and move to the south of France,” McGowan said. “Then, I will lean into the sun with a glass of Champagne.”

Most days, though, it can be a struggle to run the business while caring for her 13-month-old son.

McGowan said she appreciates the message to prioritize work ambitions, but it can be trickier to implement than it sounds. One of her friends repeated a catchphrase response to the book: “If I lean in any more, I’ll tip over.”

Emily Fesler, with Nestlé Purina PetCare Co., says she met other moms at the mother’s nursing lounge on campus and found a support network, in addition to reaching out to senior executive women within the organization. Other parents use the on-site day care and create a support system there, she said. Several working parents take advantage of a flexible working schedule, she said, which allows them to participate on school field trips and coach their children’s sports teams.

Several female executives said technology allows more work to be done away from the office and outside of traditional business hours.

“The company does a lot to make it easier,” Fesler said. But part of a successful transition for her involved changing her own mindset. Her mother takes care of her daughter when she’s at work.

“When I leave her and go to work, rather than think that I’m not with my daughter, I focus on the fact that she’s getting to create a neat bond with her grandmother,” Fesler said.

Renz, with KPMG, also decided to return to work and says the lunch date with her boss and mentor was a turning point in her decision.

“It let me know that she cared about me as a person and valued me as an employee. … And if something wasn’t working when I came back, I knew I could talk to her,” Renz said.

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May 18, 2013

Blue Jays fall flat against Yankees in New York

Filed under: Mortgage, term — Tags: , , , — DoctorBusiness @ 6:06 pm

NEW YORK—At some point the Blue Jays are going to stop “tipping their cap” to another solid start by a Yankees pitcher and start saying New York is simply playing better baseball right now.

Of all the tough luck the Jays have had — with injuries to pitchers, a poor start, the last-place standing — it all came bubbling to the surface in a meek 7-2 loss to the Yankees here Saturday afternoon.

Toronto dropped the second straight game of this key series to their AL East Division rival, and they did it in convincingly bad fashion. They left no doubt they weren’t prepared to meet the Yankees, even the current patched-up version, and they left no doubt they simply don’t stack up to the first-place New Yorkers.

“The numbers speak for themselves,” Jays manager John Gibbons said.

Gibbons was referring to the fact the Blue Jays have now lost eight of nine meetings with the Yankees this season. They’ve been swept in all six games at Yankee Stadium, and have lost nine straight in New York dating back to last season.

Beyond the numbers, though, the Jays are playing bad baseball.

They entered this series on the heels of a massive wakeup of their offence for much of the past 10 days. They were swept in four straight games in New York in late April, but this time was going to be different.

Well, that was the theory. But in the first inning, Jose Bautista was picked off second with two out and a 3-1 count on Adam Lind, one of the team’s hottest hitters of late. When you’re best player gets picked off at that juncture of the game, it says something about the team’s level of preparation.

What else to think after watching hybrid reliever-starter David Phelps go seven innings of one run, six-hit ball?

Phelps, who averages about four strikeouts per start otherwise, struck out eight Jays on Saturday. He whiffed nine in an outing against Toronto in April.

Right now, the thinking is the Jays are good enough to get back to close to .500 by the time Jose Reyes returns from injury in late June. From there, the team that just about every expert pegged to at least make the post-season still has time to make good on that promise.

The difference Saturday was Robinson Cano, who twice stung Toronto starter Brandon Morrow for two-run homers.

In the bigger picture, Cano is the Yankees’ best player and No. 2 hitter and he produced four runs. Bautista is the Jays’ best player and No. 2 hitter and he got picked off second. Bautista is better than that, and needs to start showing it.

Morrow was making his first start in 13 days. He’d has his outing pushed back twice due to back back spasms but said he felt good Saturday.

Indeed, he was solid outside of Cano, working five innings of seven-hitter and no walks.

Toronto now has an opportunity to salvage the final game here Sunday, with R.A. Dickey going up against CC Sabathia in what promises to be a great pitching duel.

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