马上男儿的选股秘诀

郝特韦经常练习一种特殊的双人骑马运动,这需要他和他的骏马,以及另一个人---通常情况下是他的儿子马克斯---共同练习。在这项比赛中,两名参赛者需要轮流骑马竞速。对于他投资的股票,62岁的郝特韦喜欢这样打趣:“有些在飞驰,有些还在小跑。”可是,就是这样的投资组合近10年来为郝特韦基金带来了年均16.2%的高收益率,比标准普尔500指数高出整整4.7个百分点。他评估股票的主要方法便是自由现金流法。经营性现金流减去资本支出,所剩下的余额就是自由现金。私有公司的老板更关注自由现金而非净利润,因为自由现金能给他们更大的余地,来安排资本用…     

Deployment of Indonesian migrants in the Middle East: present situation and prospects

"This paper examines the Indonesian overseas employment program. It is limited to overseas deployment through the official channels, i.e. organised by licensed labour suppliers and approved by government authorities. The main destination of this official labour migration is the Middle East. Indonesian officials have indicated that the government aims to increase overseas employment and to shift deployment from houseworkers to better skilled workers. It is argued in the paper that, in view of a shrinking labour market for migrants, even limited realisation of these hopes would depend upon some distinct changes in the overseas employment program."     

Population,agriculture, and the environment in Africa

An overview is provided of the World Bank study about the interaction between rapid population growth, poor agricultural performance, and environmental degradation. The links between these 3 phenomena are identified as traditional methods of crop and livestock production, land tenure systems, women's responsibilities, and methods of forest use. When land was abundant and capital limited, pastoralism, shifting cultivation, and setting aside fallow land was possible. Mobility and allowances for natural regeneration of vegetation could not continue with rapid population growth. Permanent settlements developed but cultivation methods remained the same; the result was deterioration of soil fertility, low yields, and erosion of soil as occurred in Rwanda, Burkina Faso, and parts of Nigeria. Technological innovation has been slow and poor roads have interfered with a market oriented economy. Inappropriate pricing, exchange rates, and fiscal policies also prevent productivity gains. A heavy demand is placed on women's time. Demand for children is high and is stimulated by environmental degradation, food insecurity, land tenure systems, and cultural traditions. Child labor is needed. The demand for contraception is 30-50% in North Africa, 36-55% in Asia, and 40-60% in South America. Land ownership problems have arisen under community ownership and between herders and settlers. Solutions have ranged from land nationalization and arbitrary designation of individual ownership. Open access situations have developed and lent themselves to exploitation. Fuelwood needs have exacerbated the destruction of forests. Commercial logging accounted for 10-20% of the forest loss. New approaches are needed to link cross-sectionally population, the environment, an agriculture. Emphasis should be on resource conservation, family planning, and environmentally benign intensive farming. Agricultural production needs to grow at 4%/year, fertility lowered by 50% over 30 years, and deforestation slowed. Women's time constraints should b alleviated and productivity improved. Open access and state ownership should be stopped.     

减少汽车业的浪费

汽车制造商和零件供应商可以节省巨大开支，但前提是双方要更为紧密地合作在一起麦肯锡的研究表明，北美汽车业每年在产品开发和组装过程中由于汽车生产商与供应商缺乏良好的计划和协调不当，造成了超过100亿美元的浪费。事实上．这只是较为保守的估算。因为我们的研究仅涵盖了供应商发生的成本，如：附加设计、生产工具最后改型和零件自身的附加成本。这还不包括因设计问题生产商需额外支付的改型费用、生产问题引发的车辆最终成本的增加或质保支出。这几项每年给汽车行业带来的浪费约为120亿美元。     

哈林顿专栏检验、纠正、预防、选择:质量工作者的角色转变

回顾自己40年的质量工作生涯,我认为可以将质量工作大致划分为四个阶段: 检验:20世纪70年代我们关注检验.质量组织致力于防止制造商装运不符合规范的产品.质量工作者是顾客的保护者,几乎会跑去躺在卡车前面,阻止制造商将不合格产品装车后带离码头.质量工作者的基本角色是警察.制造过程中约10%的工作与质量保证性检验相关.这属于质量控制范畴.     

管理者在创新中的角色：“聚会”的组织者——对《创新：缺失的维度》一书的点评

孤独的创造者是浪漫的,但是不切实际。创新是一个社会过程,创新越是成功,这个过程就越具有社会化。然而,在公司内部,创新的社会化、非正规化却经常受到管理者硬性规定的约束。他们强调预算、团队的时间表以及其它的条件来限制乃至取消自由交流思想的各种形式,管理者反对公司未来无法想象的产品拓展。《创新:缺失的维度》一书提出了管理者在创新中的角色:“聚会”的组织者。该书作者是麻省理工学院教授理查德·莱斯特和麦克尔·皮尔瑞。他们把创新的早期阶段描述成一个鸡尾酒会。在这个阶段,不同专业、不同兴趣的人们聚在一起,轻松而又认真地…     

短期事件对旅游的影响:以中国SARS危机为例

通过回顾近年来世界各国发生的短期危机对旅游产生的影响，重点分析2003年的SARS疫情给中国经济特别是旅游业造成的重大损失，讨论了不同的短期危机对旅游的不同影响以及旅游在危机后的不同恢复时间。旅游业对短期危机缺乏足够的防御能力，但通常能较为迅速的走上复苏之路。在这个过程中，适当的危机管理措施和有效的恢复策略是十分重要和不可或缺的。     

生物技术:一个烫手的市场

即使是生物技术公司能够带来丰厚利润的时候．投资者仍需谨慎小心。有关的建议是：确保你所投资的公司既能赚钱又有有前途的新产品。公司的产品越弱．投资失败的机会就越大。