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…     

库列伊水电站右坝段结构与施工工艺的改进

在复杂的工程地质条件下,包括在粘性软土基础上,已建了很多土坝。正如苏联等国的工程经验所表明的,当设计这类建筑物时,应规定专门的措施进行监测和控制边坡的稳定。这种监测任务(包括利用仪器对建筑物进行原型观测),乃是用工程方法获得的地质和工程地质资料的订正及补充。这些资料在建坝初期,可从勘测资料的坝基地质模型,及在土壤施工性质计算中验证其准确性,或使之进一步准确。欲控制土坝边坡的稳定,必须进行土坝     

闸下出流量估算

垂直闸门的闸下出流,只要闸门开度a比上、下游水位H_0、H_1小的情况下,可假定其出流量与通过矩形孔口的出流量相同。     

INTERACTION OF VORTICES WITH A PROGRESSIVE SURFACE WAVE

ＩＮＴＥＲＡＣＴＩＯＮＯＦＶＯＲＴＩＣＥＳＷＩＴＨＡＰＲＯＧＲＥＳＳＩＶＥＳＵＲＦＡＣＥＷＡＶＥＷａｎｇＬｉｎ－ｌｉｎ；ＭａＨｕｔ－ｙａｎｇ（ＧｒａｄｕａｔｅＳｃｕｄｏｆＡｃａｄｅｍｉｃａＳｉｎｉｃａＢｅｉｊｉｎｇ１０００３９Ｐ．Ｒ．Ｃｈｉｎａ）Ａｂ...     

ON THE CALCULATION OF FLOW OVER AND THROUGH A ROCK-FILL DAM

1.INTRODUCTIONInthedesignofanovertoppedrock--filldam,oneofthemajortasksistodecidethesizeofthedownstreamprotection.Theovertoppedrock--filldamismadeofporousmedia,thereforethewaterwillpenetrateintothedamfromtheupperfaceandemergeoutofitfromthelowerpart,whileitflowsoverthedam.Hence,theprotectionissubjectedtotheactionofboththeoverflowandtheseepageflow,andneitherofthemcanbenegligible.Inthiscase,theflowfieldconsistsoftwoparts:theopenflowandtheseepageflow,whichhavedifferentproperties.Infact,forthe…     

Urban development patterns in Indonesia

The author examines recent urban development in Indonesia. "Analysis of urban developments in Indonesia has been hampered in the past by weak data. Recently, the National Urban Development Strategy (NUDS) project has generated a set of improved data. This paper aims at elaborating and supplementing the NUDS study. After a discussion of definitional problems, an analysis is carried out of urban growth rates at the provincial level. Private investment is shown to be a principal determinant of urban growth rates. Other significant determinants are rural immigration and the present level of urbanisation. Private investment is shown to be strongly biased towards provinces with large urban areas. In addition, polarisation is studied at the level of individual cities. It is found that a period of rapidly increasing polarisation has come to an end during the last decade."     

The CEO as organizational architect: an interview with Xerox's Paul Allaire. Interview by Robert Howard

As chairman and CEO of the Xerox Corporation, Paul Allaire leads a company that is a microcosm of the changes transforming American business. With the introduction of the first plain-paper copier in 1959, Xerox invented a new industry and launched itself on a decade of spectacular growth. But easy growth led Xerox to neglect the fundamentals of its core business, leaving the company vulnerable to low-cost Japanese competition. Starting in the mid-1980s, Xerox embarked on a long-term effort to regain its dominant position in world copier markets and to create a new platform for future growth. Thanks to the company's Leadership through Quality program, Xerox became the first major U.S. company to win back market share from the Japanese. Allaire describes his efforts to take Xerox's corporate transformation to a new level. Since becoming CEO in 1990, he has repositioned Xerox as "the document company" at the intersection of the worlds of paper-based and electronic information. And he has guided the company through a fundamental redesign of what he calls the "organizational architecture" of Xerox's document processing business. Few CEOs have approached the process of organizational redesign as systematically and methodically as Allaire has. He has created a new corporate structure that balances independent business divisions with integrated R&D and customer operations organizations. He has redefined managerial roles and responsibilities, changed the way managers are selected and compensated, and renewed the company's senior management ranks. And he has articulated the new values and behaviors Xerox managers will need to thrive in a more competitive and fast-changing business environment.     

The Harris-Todaro model and economies of scale

The authors attempt to reanalyze the Harris-Todaro migration model in the presence of economies of scale in the manufacturing sector, focusing on economies of scale that are external to a given firm but internal to the industry.     

富士通:完全解决客户的问题

如今,消费者和供应方所面对的挑战,就是要找出更好的办法,来纠正实际使用过程中确实出现的问题,如缺陷产品(这些产品往往是由不同的组织各自设计的)、损坏或不相匹配等。所幸的是,精益方法能够使我们稳步迈向极少出问题的精益消费过程。其中关键的做法是,把对每一个“消费问题”的智能型反馈收集起来。这将使现有问题得到迅速而彻底的纠正,同时避免同类问题今后再度发生。真实的企业面对真实的客户真的能实施这样的智能型反馈吗?在研究中我们高兴地发现,欧洲最大的IT支持服务供应方之一的富士通服务公司(FujitsuServices),已经令人信服地…     

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。