UN operations in Libya began on night of 19 March 2011, and they are likely to end within a few days. France and UK Air Forces are leading the UN Coalition attack on Col Gaddafi’s military in Libya. US Naval forces have fired 100+ tomahawk missiles to support the Operation Odyssey’s goals. Residents of Tripoli heard explosions on the eastern side of the capital. They all say they had enough of Col Gaddafi and wants him to step down and that people of Libya will be happy to see Col Gaddafi go away as soon as possible. Col Gaddafi showed his colors when he declared ceasefire on Friday night and initiated his military attack on Benghazi’s 670,000 people shows that he is ready to kill his own people to retain power. Meanwhile, Al-Jazeera has said that Libyan authorities have detained a team of its journalists in western Libya, the AP news agency reports. The four correspondents are said to be British, Tunisian, Mauritanian and Norwegian.
We support the UN Coalition’s action in this case. Similar ops should have happened in Rwanda & Burundi, and Bosnia many years back to prevent genocides, but that’s the lesson here, not to let punk dictators kill do genocide within their country. We want to see immediate stop to all killing of civilians in Libya. We want to see democracy in Libya.
The display at Charles de Gaulle airport in Paris shows the plane status as: Delayed
Wish it were just delayed, but it has been out of communication for over 14 hours now. There were 228 people on board, including 12 crew members. The latest from BBC news
Troubled economic times can bring all kinds of new projects. British Airways, bellweather of UK economy to a good extent, wants to outsource the operations for its flagship ba.com website as part of a major cost-cutting exercise.
It is estimated that ba.com takes about £30 million per year to run, and that BA is looking to save a big chunk here. BA Travel Booking and Servicing functions of ba.com – a major part of the ecommerce programme for BA’s online platform – will be outsourced to a third party under proposals being evaluated currently.
BA already uses third party vendors to for online FAQ service and payment system. Now even more will be outsourced, or maybe even sold, depending on how the proposals come. This blog post has more info.
Warren Buffet doesn’t have to prove anything to anyone because his performance numbers speak for themselves. And that’s what makes it so interesting to hear him take Q&A: “The nastier the better”… as he says!
It’s a long video… if you are in a rush, here’s our summary of the various Q&A:
Q1. What do you look for in the people you like to work with?
WB: I like to work with people I like. I don’t look at their CVs or Grades to decide who can do what. In fact, I don’t even look if they have a degree. If you are working with people you don’t enjoy, please do yourself a favour, and leave the job and work with people you like. You’ll do better.
Q2. What kind of businesses do you like to invest in?
WB: I want to invest in businesses that are stable and where I can visualize it 10 years from now. Companies like Coke (soft drinks), Gillette (mens shaving blades) are examples of my investment choices. There are many others like GEICO (automotive insurance), Nebraska Furniture Mart (maximum sales from a single store location in the US), Iscar Metalworking Company (an industry leader in metal-cutting tools from Israel). I don’t have the understanding of technology-intensive business like software etc, and I stay away from them.
Q3. How do you do business valuation? How detailed is it?
WB: I like to invest in businesses where I have great comfort with the business owner. A paragraph is often sufficient to know the business value. The example being Nebraska Furniture Mart owned by Mrs. Rose Blumpkin, who recently turned 101 years, who has no formal education but has great common sense.
Q4. Tell us some of your bad decisions and what you learned from them?
WB: I invested in US Air though it was a difficult sector. Call it Temporary Insanity. I have learned that my bad decisions have happened when I had more cash than necessary. The airline industry is one step forward for mankind, a giant step backward for capitalism! And then there are other mistakes that conventional accounting does not capture, like the selling of 5% stake in Walt Disney (at $6m) within a year of buying it (at $4mn) in the 1960s. Today that stake is worth over a billion dollars.
Q5. Why not split the Berkshire Hathaway share to make it more affordable to investors?
WB: I think of my investors as a club or an audience in my presentation and we want long-term investors not traders. I don’t want high trading volumes for our shares. In fact, I will be happy with no trading at all. Our share price ($25k per share in recent times) has helped us maintain that seriousness and attract long-term investors.
Thanks for coming by!
It’s the first post on this blog. We had maintained a blog on another domain so far, but now merged our blog with the main site, which means all the industry viewpoints and experiences- in text, audio, and video – will be available directly on this site.
MyOrbit.tv is a member-driven Internet video channel focused on business and professional development. Our viewers and members are worldwide, making this an attractive platform to view and share professional experience and promote new products and services – all this at a fraction of current costs involved in marketing, new product launch, and customer interaction.
Of course, this channel won’t solve it all for you, but we have a plan – to add beneficial functionality and information – few at a time, so that a majority of our members can benefit from them. The discussions and videos on this channel are by active professionals and business executives, and we believe it offers great value to our viewers and members. This video shows how you can benefit from this channel.
We will pushing the boundaries of Internet streaming video. Some of the benefits for our Members and Viewers will come from applications like:
- Industry discussions and debates with members – this gives original content, which everyone wants to watch.
- New product demos by companies (eg. a medical diagnostics company demonstrating the benefits of its new diabetes management product, a SOX consulting company showing their solution framework, etc)
- Career Development (eg. sales training and commercial presentation videos, job candidates presenting through video; crash the recruitment process through private videos)
- Promoting professionals or new businesses (eg. a warehouse business showcasing its premises, security facilities, and client endorsements)
- Pre-approved advertisements (by our Member council) launched by the viewers