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emirates.com
SOUTH AFRICA
Making Innovation Pay
WHITE JADE
Chinas New Bonanza
HI-TECH CARSNo Driver Required
Ian SchragerPartnering withBill Marriott
Issue 60 December 2010
PortfolioExclusive to Emirates First Class and Business Class
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PortfolioExclusive to Emirates First Class and Business Class
47 Local Government EvolutionThe UKs financial cuts are forcing city and town halls
across the country to radically rethink their currentbusiness plan. One municipal authority has even gone
so far as to outsource all of its services.
Cover Story
This issueDecember 2010
COVER
PHOTO:ALBERTO
GUGLIELMI
40
Features
40 An Innovative ApproachThe South African government is throwing its weight behind
entrepreneurs and innovators hoping for more job creation
and further diversification of its economy.
52 Opening Up Closed ProfessionsGreece is full of closed professions, which means entry to
around 70 jobs is bound up in a tangle of regulations and
licensing requirements. This system costs Greece billions of
dollars annually and the government is now taking steps to
dismantle it.
58 Jade BonanzaAs the Chinese become more affluent they can indulge their
love affair with jade. As a result the finest jade is now more
expensive than gold, which has created a boom in the town
of Khotan.
58
32 Strange Bedfellows
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11 NotebookWorld business in a nutshell.
19 ObserverSpotting and analysing business trends.
28 Column: Frank BuresLiving Abroad
PortfolioExclusive to Emirates First Class and Business Class
8
Departments
Essentials
65 A Hot TraditionSouth Koreans have rediscovered the tradition of
baking inside charcoal-making kilns at a temperature
of around 138C. They believe it is therapeutic and
has health benefits.
72 Sticks and Stones and ArtPatrick Dougherty has made a name for himself by
sculpting tree saplings into anything his imagination comes
up with. But his first and only lasting project is his home.
76 Pop-up CuisineLondons pop-up restaurants give rising chefs the
opportunity to star without a major financial layout,
while diners get a culinary adventure.
80 Intelligent CarsGoogle has been
testing cars that drive
autonomously using
artificial-intelligence
software. Although the
vehicles have shown
huge promise, their
deployment is still years away.
84 Use It or Lose It?Could it be that early retirement is linked to memory
decline? A recent study suggests there is a relationship.
86 100% PorscheForget the previous generation, the new Cayenne S delivers
on everything the Porsche badge stands for and more.
88 Other BusinessPortfolio takes a light-hearted look at the latest
business news.
Portfolio
INTERNATIONAL MEDIA REPRESENTATIVES
AUSTRALIA Okeeffe Media; Tel +61 89 381 7425, Fax +61 89 382 4850, [email protected] CHINA/HONG KONG Emphasis Media Limited;
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Published for Emirates by
PO Box 2331, Dubai, UAE.
Telephone: (+971 4) 2824060,fax:(+971 4) 2824436,
e-mail: [email protected] by Emirates Printing Press, Dubai, UAE
Editor-in-Chief Obaid Humaid Al Tayer Group Editor & Managing Partner Ian Fairservice Group Senior Editor Gina
Johnson Senior Editor Guido Duken Deputy Editor Nick Rice Editorial Assistant Hilda DSouzaArt Director Tarak
Parekh Junior Designer Roui Francisco General Manager Production & Circulation S Sasidharan Production
Manager C Sudhakar General Manager - Group Sales Anthony Milne Email: [email protected] Business
Development Manager Nicola Hudson Advertisement ManagerRameshwar Nepali
Emirates takes care to ensure that all facts published
herein are correct. In the event of any inaccuracy,
please contact The Editor. Any opinion expressed is
the honest belief of the author based on all available
facts. Comments and facts should not be relied upon
by the reader in taking commercial, legal, financial or
other decisions. Articles are by their nature general,
and specialist advice should always be consulted
before any actions are taken.
65
72
80
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Dubai: Burjuman Center, 2nd floor (+971 4 351 0001) - Dubai Mall, Ground floor, Watches & Jewellery (+971 4 339 8001)
Abu Dhabi, Marina Mall (+971 2 681 1121)
www.vancleef-arpels.com
Mystery Set sapphires and diamonds ring, DIF pear-shaped diamond 5.48 carats
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From Paris to New York, from Munich to Dubai, from London to Beijing,
from Rio de Janeiro to Cairo, live a magnifique life around the world.
www.sofitel.com
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13/92December 2010
NotebookBUSINESS NEWS IN BRIEF
A Hard Act to Follow
Dilma Rousseff has been
elected Brazils president.
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2 Notebook
N u m b e r s G a m e
$10 billion worth of commercial deals are to be unveiledin the coming months while bilateral trade couldtop $50 billion by 2012 thanks to US President Barack Obamas
business centred visit to India.
77-year-old Spanish grannyhas become the worldsoldest professional freestyleparachute jumper. Montse,
from Catalonia, competed in
her first world championship
in 1993 and has done 903
jumps to date.
$1,400per
ounce is the
record price that gold achieved
before Novembers G20 summit.
AU$1a week is the
cheap rent being
offered for farm houses by
an Australian Outback town.
Trundle, with a population of
around 380, is seeking families
to fill six homes that are lying
banking, internet shopping
and paying bills electronically
according to a survey by the
Payment Council in Britain.
$1.93billion is the costof billionaireindustrialist Mukesh Ambanis
glass tower, making it the most
expensive residential property in
the world.
IndiasDiabetesQuandary
In Figures
The World
vacant due to long spells of
drought in the region.
10 minutes
and 42 seconds is the longest
the average British adult is
prepared to stand in line patiently
before tempers start to fray. Brits,
renowned for the art of queuing,
now increasingly prefer online
CORBIS
CORBIS
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Each Lange watch is one-of-a-kind.
Just like the people who craft it.
No two SAXONIA ANNUAL CALENDAR watches are one hundred
per cent identical. Thats because this timepiece owes its superior
precision to the dexterity of human hands. Langes masters assembleand finish a watch in their very own personal way. The result is a one-
of-a-kind masterpiece available only from the worlds finest retailers.
There, you can also hear the story of F. A. Lange who, 165 years
ago, moved to Glashtte. With the objective of crafting the worlds
finest timepieces, he actively contributed to the evolution of themechanical watch. We take our in-
spiration from his spirit of ingenuity.
Burjuman Centre Dubai, UAE Tel. +971 4 355 9090
Wafi City Shopping Centre Dubai, UAE Tel. +971 4 324 6060
Dubai Mall Dubai, UAE Tel. +971 4 339 8883 Al Saman Tower Hamdan Street Abu Dhabi, UAE Tel. +971 2 627 2222
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4 Notebook
Property Investmenton the Rise
More Costs for BP
BP Incident Commander for Louisiana Brian Bauer (L) talks
with NOAA scientist John Tarpley (R) as they examine recently
washed tar balls during a survey tour near Venice, Louisiana.
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6 Notebook
R e s u m s R e w r i t t e n TEXT: HEBA HASHEM
Madonna
WITH HER BANGLES, LACE GLOVES,bikers jacket and black ankle boots,
there will only ever be one pop queen.
Music icon Madonna has been setting
trends for more than two decades,
reinventing her appearance for every new
album. And it has paid off, with Madonna
earning around $58 million in 2009-10.
Her tour last year was the fourth-highest-
grossing, bringing in $6 million a night
and $138 million overall. And at 52,
shes not slowing down
as this year saw the
launch of the Material
Girl clothing line with
daughter Lourdes, 13,
and the power mom is
directing her second film,
W.E., for release next
year. Just how much
Madonna is worth is
hard to determine. Based
on her 200 million plus
record sales and her
profitable tours a best
estimate is between
$380 and $500 million.
However, when you add
her endorsements, musicroyalties (she writes
most of her own songs),
fashion line, childrens
books and various other
projects the figure is
much higher.
Thats not bad going
for Madonna (its her
real name) Louise
Veronica Ciccone who
was better known in the Eighties for herbold, sometimes outrageous, outfits.
Most critics wrote her off as a short-
lived phenomenon but Madonna proved
them wrong by continuously adapting to
trends and ensnaring new generations
of music fans. Theres no questioning
her star power and reports have recently
surfaced in the media that Las Vegas
is offering her $1 billion for a five-year
performing residency. The megabucks
payment would totally eclipse her
previous earnings; in 2007, she signed
a 10-year contract worth a mere $125
million with promoter Live Nation.
Madonna has always had an iron will
to succeed. Numerous record labels
were unimpressed with her voice but
she kept battling away until she got her
big break. Today, she still displays that
same grit and determination. Her toned
muscles, versatility and dazzling dance
moves testify to the minimum three
hours she spends in the gym daily.
So it is no surprise that Madonnas
latest venture is aimed at the lucrative
fitness industry. From yoga and Pilates
to the Power Plate and Gyrotonic
Expansion System, Madonna has donethem all. The Material Girl joined forces
with 24 Hour Fitness founder Mark
Mastrov and her manager Guy Oseary
to launch the health-club project. The
global chain of fitness clubs has been
named Hard Candy after her latest
album and the first gym opened in
November in Mexico City. Madonna,
Mastrov and Oseary plan to expand
to Russia, Brazil, Argentina, as well as
other locations in Europe and Asia.Arnold Schwarzenegger went from
bodybuilder to Hollywood action star
and governor of California. Madonna
is going from queen of pop to fitness
guru. But few would doubt that even if
she had started in the fitness world she
probably would still have made it to the
top. Singer, songwriter, director, actress,
author, fashion designer, fitness guru
This lady has one fantastic resum.
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December 2010
BUSINESS NEWS IN BRIEF
Observer
Helping the Poor
Billionaire Vinod Khosla believes that commercialentities can do more to help the worlds needythan most non-profit charitable organisations.Hes willing to invest his own money to prove it,reports Vikas Bajaj.20
10NEWY
ORKTIMESNEWSSERVICE
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0 Observer
Microfinance has enabled thousands of poor Indians to get the necessary loans to start
their own small businesses.
Vinod Khosla believes that moneymaking
ventures grow faster and are more
effective in reducing poverty than non-
profit approaches.
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2 Observer
CORBIS
AMERICAS SAFEST CITIES
City State
1 Plano Texas
2 Portland Oregon
3 Honolulu Hawaii
4 San Jose California
5 Omaha Nebraska
6 New York New York
7 Santa Ana California
8 Anaheim California
9 San Diego California
10 Glendale Arizona
THE WORLDS LEADING COMPANIES 2010
Company Country Sector
1 JPMorgan Chase United States Banking
2 General Electric United States Conglomerates
3 Bank of America United States Banking
4 ExxonMobil United States Oil & Gas Operations
5 ICBC China Banking
6 Banco Santander Spain Banking
7 Wells Fargo United States Banking
8 HSBC Holdings United Kingdom Banking
9 Royal Dutch Shell The Netherlands Oil & Gas Operations
10 BP United Kingdom Oil & Gas Operations
TOP EARNING MODELS 2010
Name Income Country
1 Gisele Bndchen $25 million Brazil
2 Heidi Klum $16 million Germany
3 Kate Moss $9 million UK
4 Adrian Lima $7.5 million Brazil
5 Doutzen Kroes $6 million The Netherlands
6 Alessandra Ambrosio $5.5 million Brazil
7 Natalia Vodianova $5.4 million Russia
8 Daria Werbowy $4.5 million Canada/Ukraine
9 Miranda Kerr $4 million Australia
10 Carolyn Murphy $3.5 million USA
The World
Top 10
Leo, the MGM lion, is filmed in 1929 when the studio was in its
golden age.
Will the Lion Roar Again?
SOURCE: FORBES.COM
SOURCE: RANKING WAS CALCULATED BY FORBES.COM ACCORDING TO SALES, PROFITS, ASSETS
AND MARKET VALUE IN DOLLARS OF PUBLIC COMPANIES.
SOURCE: RANKED BY FORBES.COM ON NUMBER OF TRAFFIC ACCIDENTS, VIOLENT CRIMES AND EMPLOYMENT PER
100,000 PEOPLE.
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December 2010
Positive
Economic Data
The pressure on unemployment benefits is easing as moreAmericans are reabsorbed into the work force.
CORBIS
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4 Observer
Rare Earth Debate
No Laughing
Matter
Microsoft Stays the CourseAvanir Pharmaceuticals has won U.S.
approval for a drug that curbs bouts
of uncontrolled laughing or crying in
patients with neurological disorders.
The medicine, Nuedexta, is the
first approved to treat patients with
multiple sclerosis or Lou Gehrigs
disease who develop symptoms
known as the pseudobulbar affect
that causes loss of emotional control.
Avanir, which has no other products
on the market, plans to begin sellingthe drug in the first three months
of 2011.
The announcement saw Avanir
immediately gain $2.75, or more
than 113 per cent, to $5.17 on the
Nasdaq Stock Market. The medicine
may have sales of $275 million
by 2013, and analysts are rating
the shares a buy with an average
12-month target price of $9.23.
Stickers promoting launch of Windows Azure at
Microsoft Professional Developers Conference.
PHOTOS:REUTERS
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December 2010
Telecom Mergers
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6 Observer
O N E 2 W A T C H
After a long hunt Mozilla
finally found a new CEO after
appointing Gary Kovacs who
took over on November 8.
He is responsible for leading
the overall direction of the
organisation and its products,
including the Firefox web
browser.
It will be Kovacs job to
maintain Firefoxs position
as it gets squeezed by
heavyweight competitors.
Microsofts Internet Explorer
is still commanding the
browser space with 59.7 per cent market share, according to
Net Applications. And the latest version, IE9, is seen as givingMicrosoft a fighting chance to make up for missteps. Meanwhile,
Google Chrome, which currently controls eight per cent of the
browser market, is quickly gaining ground on Firefox, which has
23 per cent.
Fortunately, Kovacs has all the relevant experience. Prior to
joining Mozilla, Kovacs held senior leadership roles as senior vice
president of Markets, Solutions & Products at Sybase (through
its acquisition by SAP earlier this year), as general manager
and vice president of Mobile & Devices at Adobe, and as vice
president of product marketing at Macromedia (through its
acquisition by Adobe).Previously, he led the successful creation and growth of Zi
Corporation, a company specialising in embedded software
and services for mobile and consumer devices. Prior to Zi
Corporation, Kovacs spent 10 years at IBM in leadership
positions in product management, sales, marketing and
operations within the global software division.
He holds a bachelors degree in commerce and a masters
degree with distinction from the University of Calgary.
Kovacs has a deep background in the battlefields that will
define the future open web: mobile and rich media, was the
opinion of Mozillas outgoing chief executive, John Lilly.
Gary Kovacs
TEXT: HILDA DSOUZA
Pontiac is no more after 84 years. The General Motors brand was
known for muscle cars that drag-raced down boulevards, parked
at drive-ins and roared across movie screens.
The brand has been moribund since GM decided to kill it last
year as it collapsed into bankruptcy and was in decline for years
before that. On October 31 GMs dealer agreements ended,
which made Pontiacs
demise official.
The former
maker of
automotive
classics such
as Bonnevilles,
Firebird Trans
Ams and GTOs
was undone by a
combination of poor
corporate strategy and
changing driver tastes.
Pontiacs sales peaked
at about one million in 1968,
when the brands speedier models were prized for their powerful
engines and scowling grills. Buick is now filling the Pontiac nichewith GM putting its resources behind the brand.
iPhone 4LeapfrogsBlackBerry
Goodbye Pontiac
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December 2010
Rich Should Pay More
HPs CEO Outlines Future
CORBIS
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8
Commentary
Living Abroad
TEXTBYFEATUREWELL
FRANK BURES
Ernest Hemingway was greatly influenced
by travel and living abroad. His first book,
The Sun Also Rises, was based on his
experiences in Spain.
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Portfolio
2
Profile
Portfolio
BEDFELLOWS
STRANGE
Hip boutiquehotelier, IanSchrager, is takingthe biggest gambleof his career by
jumping into bedwith the worldsbiggest chainoperator Marriott.He tells JamesRichardson why.
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December 2010December 2010
PH
OTO:ALBERTO
GUGLIELMI
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Portfolio
4
Profile
Dressed top to toe in navy
blue Prada, Ian Schragerlooks about as out of placeas its possible to look in the30C heat of Waikiki Beach.
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December 2010
Bill Marriott, Ian Schrager and Marriott executive Arne Sorenson announced their partnership at Schrager's Gramercy Park Hotel in 2007.
Many critics believed the relationship wouldn't work.
Schrager pioneered the design/boutique
hotel concept. For example, New Yorks
Gramercy Park Hotels interiors were
designed by artist Julian Schnabel.
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Portfolio
6
Profile
Sorenson and Schrager pose at the Sun Suite
during the opening of the Waikiki Edition on
October 15.
Schrager with Elizabeth Hurley. The
hotel magnate is well-known for his VIP
friends, a trend which started at the
iconic Studio 54.
The Waikiki Edition is the first fruit of the Schrager/Marriott partnership. Schrager supplies
the style and Marriott the know how of running large chains.
What I am doingfor Marriott is notdumbing down,nor sell out. It is
just designed fora bigger marketand catching thecurve, the zeitgeist.
GETTY
IMAGES
REX
FEATURES
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Portfolio
8
Profile
Whether its Waikikior Istanbul what Imcreating is right forme now. I always
make things forme. Its my instinct,my personal taste.Luckily, my taste hasso far happenedto resonate witha large group ofpeople. I thinkEdition will, too.
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41/92mes and/or references to third parties in this print advertisement are used with permission. UBS 2010. All rights reserved.
ubs.com/we-will-not-rest-uae
We will not rest
Until Neil Armstrong walked on the moon, he would not rest. Nor would his crew. (Sea of Tranquillity, 1969.)
Untilyou get to where you want to be.
You only need to know one thing.
It isnt that our global reach is extensive.
Although thats comforting to hear.
It isnt that we win awards for our services.
Although we do. Oen.
It isnt that we have access to resources, giving us
strength and depth across equities, xed income,
structured products and currencies.
Although that too is nice to know.
It isnt that.
In fact, its none of the above.
Its one, simple thing.
Until you achieve your goal
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0
South
Africa
An Innovative
Approach
2010NEWY
ORKTIMESNEWSSERVICE
The South African government is throwing its weightbehind entrepreneurs and innovators hoping formore job creation and further diversification of itseconomy, reportsMatthew Saltmarsh.
Hazel Jenkins (L), premiere of the
Northern Cape Province and Naledi
Pandor, South African minister of
science and technology stand in front
of an antenna on the Karoo Array
Telescope construction site. South
Africa is optimistic it can win a bid for
the giant radio telescope project.
Portfolio
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December 2010
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Portfolio
2
South
Africa
We are a producerand exporter, saidNaledi Pandor, theminister of scienceand technology.Now were saying:Lets becomean innovator.
Sasol has grown from its South African roots into an international
player in the chemical and fuel industry.
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Portfolio
4
South
Africa
South Africa is competing against Australia for the Square Kilometre Array,
which will be the most powerful radio telescope ever built.
A car powered by Zebra batteries,
which were invented in South Africa but
are now manufactured in Switzerland.The Joule is an electric car that is
totally produced in South Africa
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Portfolio
6
Economics
20
10GUARDIANNEWS&MEDIA2010
Leeds Town Hall, designed by the local architect
Cuthbert Brodrick, Leeds, West Yorkshire, England.
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December 2010
Local Government
EvolutionCity and town halls and county councils acrossEngland are radically changing. As one municipalauthority opts to outsource all of its services, whatother inconceivable ideas are the UKs financial cutsforcing through? Anna Bawdeninvestigates.
Statue representing progress on the exterior
of Shoreditch Town Hall, Hackney, London.
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Portfolio
8
Economics
London Borough of Barnet council offices main entrance, Hendon, England.
Some councils arenow coming to theconclusion that theirrole is a democratic,strategic one.
Lambeth Town Hall, Brixton, London.
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0
Economics
Liverpool Town Hall, United Kingdom.
Suffolk County Council headquarters, Ipswich, Suffolk.
Councils will haveto become micro-regulators of thoseproviders to ensure itfunctions properly.
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Portfolio
2
Opening Up Closed ProfessionsGreece is full of closed professions, which means entry to around 70 jobs such aspharmacist, lawyer or even newsstand operator are bound up in a tangle of regulationsand licensing requirements. This system costs Greece billions of dollars annually and the
government is now taking steps to dismantle it, reports Suzanne Daley.
2010NEWY
ORKTIMESNEWSSERVICE
Greek truckers blockaded the borders for
weeks when the government tried to issue
new trucking licenses in an attempt to
open up the profession.
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December 2010
CORBIS
Regulations and licensing
requirements govern more
than 70 professions. In Greece,
newsstand operator licenses
are reserved for war veterans,
the disabled and those with
large families to support.
Each profession is protected from competitionby a byzantine tangle of regulations and licensingrequirements that results in high prices forconsumers and a reliable living for insiders.
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Portfolio
4
Greece
Greek Prime Minister George Papandreou
faces the huge task of cutting the
countrys deficit.
Greek pharmacists make 35 per cent on every medicine they sell. That's good news for pharmacists who get a license, but bad news
for the consumer.
Businessmen say it ischeaper to ship goodsfrom China to Greecethan it is to move themfrom Athens to theisland of Rhodes, 459kilometres away.
CORBIS
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Portfolio
6
Greece
Containers in the Greek port of Piraeus were left stranded when the truckers went onstrike. Trucking licenses can sell for up to $500,000, but if the government issues newones this value would plummet.
Taxi drivers are also part of a closed profession. The result is uniform fares and ashortage of taxis due to licensing requirements.
Many of theseregulations violateEuropean Union rules onthe free movement ofgoods and services. AndGreeces creditors havedemanded an overhaulof the countrys closedprofessions as part of itsrescue plan.
CORBIS
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Portfolio
8
2010NEWY
ORKTIMESNEWSSERVICE
The aptly named White Jade River is
the source of Khotans jade boom.
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December 2010
Jade BonanzaAs the Chinese become more affluent theycan indulge their love affair with jade. As aresult the finest jade is now more expensivethan gold, which has created a boom in thetown of Khotan, reports Andrew Jacobs.
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Portfolio
0
The Khotan jade market trades seven days a week. Prospectors sell their goods to
Chinese middlemen who monopolise the carving of jade.
Khotans native Uighurs have made afortune harvesting and selling white jade.
KAZAKHSTAN
KYRGYZ.
Urumqi
Khotan
TIBET
XINJIANG
CHINA
JAMMU
AND
KASHMIR
White Jade River
Khotan River
Tarim
River
Miles 200
CHINA
INDIA
RUSSIA
BeijingArea ofdetail
The New York Times
The Uighurs have largely made their fortuneharvesting jade from the river and selling it toChinese middlemen.
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Portfolio
2
Resources
Some of the beliefs are bolstered by jadestendency to change colour when worn on thebody. As jade rubs against the skin it becomessmoother and softer, and the wearer becomeshappier, which probably improves their immunity.
A pile of jade at the Khotan market. Some prime jade pieces have commanded a price of $3,000 an ounce, a 10-fold increase from adecade ago.
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porsche design
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CEO, Gulf Finance
Steve joined GulfFinance in 2008 with a
mandate to transform
the 10-year-old firm
into a boutique finance
company focused on
small and medium sized
enterprises.
With more than
two decades of
leadership and hands-on
experience in business
banking, branch banking,
customer segmentation,product development
and customer treatment
strategies, Steve knows
his industry and his
clients.
Active in the Dubai
based British Business
Group, Steve is a former
Director of Business
Development for the
association. He also is
a Director for a Dubai-
based venture capitalfirm and recently studied
finance and accounting at
the Executive Education
department of the
Stanford Graduate School
of Business in California.
SME ADVICEConsider it done
Welcome to our latest advice column for small and medium sized businesses, brought toyou by Steve Williams, CEO at Gulf Finance. Throughout his columns, Steve talks aboutthe challenges faced by many SMEs and shares his thoughts and advice on how to deal withthese challenges and come out stronger on the other side. Gulf Finance is an ambitious, progressive finance
company operating in the commercial and consumer markets. Gulf Finance offers a variety of straightforwardlending and deposit based products and believe in providing their clients with exceptional execution service
delivered through a team of highly experienced, deeply motivated financial professionals.
STEVE WILLIAMS
ADVERTISEMENT FEATURE
GULF FINANCEwww.gulf-finance.ae | +971 4 405 0000 | [email protected]
Consider it done.
GULF FINANCE
Any SME owner knows that as far as theconsumer is concerned, the final product is
what really counts. Besides this, if you can
keep a healthy margin and offer something that is
superior to your competition, then you are in pretty
good shape. Going that extra mile and adding that
extra detail will make all the difference and the
longer you can maintain that detail, the longer you
can stay ahead of the game.
Assuming you want to grow as a business, at what
point do you have to sacrifice some of that detail
in order to cater to a larger clientele? I will always
remember a small delicatessen in a village that
specialized in Italian-style produce, this place wasthe talk of the town and every product sold was
perfect in every way imaginable. It was a shame
when the owner decided to move on to bigger,
and perhaps not better things not long after he
moved to a city and began selling his products in
high volumes the quality went downhill, along with
his reputation.
When a business expands, the quality can
sometimes contract, but it doesnt have to be
inevitable. As SME owners start to move away
from the S and towards the M, it is only natural
to focus more on the companys direction and
strategy rather than the specific products. In order
to gain one without losing the other, you need to
either start networking with genetic scientists who
can start cloning asap or hire someone with the
knowledge and acumen to concentrate on the day
to day detail.
It can be extremely difficult for some owners to let
go of their first-born businesses, but there comes atime when you need a babysitter. Initially there will
be the five calls a night to make sure everythings
alright, but after a while you know you can leave
your precious bundle in safe hands. Although that
sounds fine in principle, its a difficult line to draw
between being a good delegator and a meddling
boss.
While I dont suppose Donald Trump is reading
this column, he is a rare example of a hands-on
/ gloves off boss. He may not have the depth of
detail that some possess, but he has an equal, if
not greater involvement with his generals. The
Trump organisation is a great example of how apower pyramid should look, and the top block
knows that if his base isnt stable, the whole thing
may not necessarily come crumbling down, but it
will certainly put extra pressure on the rest. In his
own words, Its always interesting to watch people
who have been incredibly successful in their own
businesses work in a group made up of equally
strong personalities. It takes a special kind of leader
who can effectively manage a team of veritable
strangers and find the best way to get strong,
winning performances from them.
As most of us operate in a smaller circle, it is much
easier to be involved with both the larger and thesmaller picture. We can ensure that the service we
provide is the standard we expect and if it isnt, we
can soon identify and address those issues that are
letting us down. In our own way, we have a much
greater opportunity than Trump for quality control
and business development.
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December 2010
EssentialsCulture
A Hot TraditionSouth Koreans have rediscovered the tradition ofbaking inside charcoal-making kilns at a temperatureof around 138C. They believe it is therapeutic andhas health benefits, reports Choe Sang-hun.
EssentialsTHE BEST OF LEISURE AND LIFESTYLE
Roasting inside a charcoal kiln has
become a craze in South Korea,
but it has its roots in local tradition,
much like the sauna in Finland.
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Portfolio
6EssentialsCulture
2010NEWY
ORKTIMESNEWSSERVICE
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December 2010
EssentialsCulture
The Gangwon Oak Charcoal facility is situated close to the town of Hoengseong,
90 kilometres east of Seoul.
Relaxing in a hot charcoal kiln has become the latest craze in South Korea. Urban spas,
called Jjimjilbang, revived the memories of traditional kiln heat baths.
The charcoal kilns reach temperatures
of 1,400C. By the time people use
them as a sauna temperatures still
hover around 138C.
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8EssentialsCulture
A worker fills a kiln with oak timber at Gangwon Oak Charcoal. The company makes a tenth of its revenue from people paying$9 for a kiln heat bath.
There are now about 150 charcoal kiln complexesaround South Korea, many of which have alsomade their kilns available for heat baths. Thereare another 150 complexes whose kilns are used
exclusively for heat baths.
The demand for charcoal has risen in the last decade as eating food cooked over coalshas become trendy again.
CORBIS
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0EssentialsCulture
Today, housewives often keep pieces of charcoalin their living rooms to absorb smells and purify theair. In Seos complex, some tourists come to gaze atthe charcoal glowing in kilns at night, believing thiscleanses their minds.
Oak logs stay in the kiln for a week to create charcoal. Then the kilns are allowed to
cool for two days before the cycle starts again.
A family rests after a session in a kiln. Koreans have a strong belief in the therapeutic
powers of charcoal and clay.
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Portfolio
2EssentialsArt
2010NEWY
ORKTIMESNEWSSERVICE
Sticks and Stones and ArtPatrick Dougherty has made a name for himself by sculpting tree saplings intoanything his imagination comes up with. But his first and only lasting project ishis home, reports Penelope Green.
Patrick Dougherty taught himself the necessary
skills to build his own home in Chapel Hill, North
Carolina. The experience motivated him to study
art and start his career as a sculptor.
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December 2010
EssentialsArt
Patrick Dougherty with his wife Linda, who is the chief curator at the North Carolina
Museum of Art. They met when Linda asked him to participate in a show.
Doughertys first sculpture classassignment has pride of place at his
home. Since then he has made more than
200 pieces for sites all around the world.
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Portfolio
6EssentialsCuisine
2010NEWY
ORKTIMESNEWSSERVICE
Pop-up CuisineLondons pop-up restaurants give rising chefsthe opportunity to star, while diners get aculinary adventure, reports Oliver Strand.
The Loft Project, a pop-up restaurant in East London, is a showcase for
a new generation of chefs such as Rob Martin (left) and Ivo Galvaoin.
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EssentialsCuisine
WhizzBangPop presents four course dinners for 45. Emily O'Hare, one of its three founders, believes that the emotional connection
with the patrons is all important in a pop-up restaurant.
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8EssentialsCuisine
The Dock Kitchen started as a pop-up restaurant in the Ladbroke Grove studio of furniture designer Tom Dixon. Today, it is a fully
operational restaurant.
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0EssentialsTechnology
2010NEWY
ORKTIMESNEWSSERVICE
IntelligentCarsGoogle has been testing cars
intelligence software. Althoughtheir deployment is still years
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December 2010
that drive autonomously using artificial-
the vehicles have shown huge promise,away, reports John Markoff.
Googles Prius can drive itself thanks to an array of sensors
that are linked to artificial-intelligence software.
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Portfolio
2EssentialsTechnology
The Lidar on the cars roof scans more than 70 metres in all directions and generates a
three-dimensional map. This 360-degree vision is far superior to human abilities.
The computer in the back analyses all the data received from the sensors. It also uses
GPS and Google maps to plot routes. The driver is alerted if there is a software or
hardware problem.
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4EssentialsHealth
2010NEWY
ORKTIMESNEWSSERVICE
PHOTOS:GETTYIMAGES
USE IT OR LOSE IT?Could it be that early retirement is linked to memory decline? A
recent study suggests there is a relationship, reports Gina Kolata.
Retired people as a group tend to do less well on cognitive tests than their peers who
are still working. But the exact reason for that difference is still unclear.
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EssentialsHealth
Research has failed to prove that mastering things such as crossword puzzles or games
like Sudoku have an effect on real life cognitive ability.
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Portfolio
6EssentialsTest Drive
100% Porsche
Forget the previous generation, the new Cayenne S delivers on everything the Porsche badgestands for and more, reports Guido Duken.
The second-generation
Cayenne keeps the classic
Porsche front, but the rear
is completely new.
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The rear of the Cayenne S takes design cues from the Panamera with its wider, curving
tail lights. Although larger, the new Cayenne S actually looks sportier and sleeker than
its predecessor.
Gone is the old interior. The new dashboard layout is inspired by the Panamera, adding
a real touch of functional class.
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8EssentialsOther Business
A new study has concluded that
ideology is not just a social thing; its
built into the DNA, borne along by a
gene called DRD4. Tagged the
liberal gene, DRD4 is the first
specific bit of human DNA that
predisposes people to certain
political views.
And the key to it all: Liberals are
more open, said lead researcher
James Fowler, a professor of both
medical genetics and political
science at the
University of
California,
San Diego.
The study, which appears in the latest
edition of The Journal of Politics,
focused on 2,000 subjects from The
National Longitudinal Study of
Adolescent Health. By matching
genetic information with maps of
each individuals social network, the
researchers were able to show that
people with a specific variant of the
DRD4 gene were more likely to be
liberal as adults though only if they
had an active adolescent social life.
Ideology is about 40 per cent
heritable. Its almost half genes and
half environment, according to
Fowler. Whats more, he said, any
trait that can be inherited has
potentially been with the human
race for a long time, meaning
political ideology has been
a part of us for tens of
millions of years.
LIBERAL GENE
Vending Machine Art
Top-earningDeceasedCelebrity
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