All 33 Miners Rescued Safely from San Jose Mine in Chile, and it is an amazing feat. This is a miracle. We are very happy to see all miners come back alive and safely. 33 out of 33 in such a difficult mining accident will make it a milestone in mining history, or any engineering accident for that matter.
And it has been made possible by (1) sheer determination of the trapped miners to survive and (2) absolute top class engineering and mining effort by the rescue teams. We hear the total team was made of experts from USA, Germany, and many other countries. NASA also helped with special high calorie liquid food and psychological coaching to the trapped miners to survive the long isolation. This is a world class example for Project Management.
Congratulations to all people involved in this extremely well executed project.
estamos muy contentos de los mineros!le deseamos una larga vida!
Fenix was the capsule designed to rescue one miner at a time.
Following were photos taken from inside the mine on 27 August 2010, and we were praying for the safety of the miners, and today we are very happy after their successful rescue mission.
For those are who have been following it, the Indian Cement Industry is rocking. It has been one of the best performers in fundamentals and also in the stock markets.
Vallabh Bhansali of Enam Securities comments on the proposed demerger of Grasim’s cement business and formation of a wholly owned subsidiary called Samruddhi Cements, which will ultimately get merged with Ultratech Cement, which is also part of AV Birla Group like Grasim.
Ultratech has shareholding in it by rival Larsen & Toubro, so that could be a reason why a direct transfer into Ultratech is not being done.
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.
If you are in any form of business or profession, then this podcast from Harvard Law School is a must-listen item because its packed with valuable insights on how to share good and bad news, how to sell your ideas to a reluctant or untrusting client or business partners using powerful tools of persuasion. This podcast is based on an article by Deepak Malhotra and Max H. Bazerman of Harvard Business School – from August 2007 issue of PON newsletter.
Click here to play.
Most of us will happily switch over to Renewable Energy if its available at around the same price. Some Renewable Energy producers are seeking the “cap and trade system” to boost the eco-friendly energy. But a bill to cap carbon dioxide is not easy – conventional energy companies have made deep investments. For example, Mike Morris, the CEO of AEP (American Electric Power), feels the use of coal is still needed to meet the base energy requirements. Still, given the thrust for green and environmental friendly energy, and with certain VCs willing to invest in them in a phase by phase approach, we can be sure to see some good innovations within a 5-10 years. Manoush Zomorodi of Reuters reports. If you are interested in Solar Energy, head over to this site that is dedicated just to it: Solar Energy Review