Brightsource Energy

Brightsource Energy has abandoned its IPO.  Citing adverse market conditions stemming from a lack of public interest/funding in greentech solar companies, the company withdrew its plans to become listed and offer shares on the NASDAQ last month.  Brightsource Energy, based in Oakland, California, is considered the United States leader in the development and application of solar energy for large-scale power plants.  The company CEO John Wollard advised the media that going through with the IPO would have left the company and its investors in an unfavorable position.  Raising $250 million of capital in the United States proved to be too much of a challenge for Brightsource Energy but the challenge, in terms of the market, stems from competition in China and it effects on the United States’ green energy policy.

Brightsource Energy is the leader in U.S. green energy initiatives.  Founded in 2004 the company develops and operates solar and thermal energy power plants utilizing proprietary technology.  Unlike other solar energy companies, Brigtsource Energy utilizes thermal power, obtained by concentrating the rays of the sun onto a mirror array, that reflects heat to boil water and generate steam to power electrical turbines.  Brightsource’s cornerstone solar energy plant, the Ivanpah Solar Electric Generating System, is located on federal land in the Mojave Desert of California.  Upon completion in 2013, the plant will generate approximately 392 megawatts of power for utility companies Pacific Gas and Electric and Southern California Edison, providing electricity for 140000 homes.  Surpluses of low-cost Chinese manufactured photovoltaic solar panels and federal cuts to the U.S. Department of Energy renewable energy grants have dimmed Brightsource’s prospects considerably.

Chinese domination in Solar Energy

China has been the predominate market force in solar energy and is the leading manufacturer of photovoltaic solar panels worldwide.  Chinese Government subsidies of 30 billion dollars help to offset the cost of manufacturing solar panels and this has led to an excess of supply in the Chinese market.  Exporting the solar panels became a necessity and the greentech conscious United States market continues to demand Chinese supply.  More Americans have been adopting green energy lifestyles and the important factor has been that associated costs have fallen dramatically over the years.  The limited number of United States manufactureerss has created domestic pricing conditions where the cost of installing Chinese solar panels accounts for a roughly 10% savings for the U.S. consumer.  Companies associated with the installation and maintenance needs of solar power production have also been the beneficiaries of low Chinese prices.  Consumer preference continues to favor the savings provided by Chinese manufactured solar panels over the increased cost of those produced domestically.  Mirroring consumer preference the U.S. Government has altered its renewable energy policy by cutting funding for federal grants, leaving Brightsource Energy in a compromised position for future growth.

United States manufacturers of solar energy panels have not been silent regarding Chinese domination of the U.S. green energy market.  A formal complaint has been filed on behalf of United States based solar panel manufacturers with the Departments of Commerce and the International Trade Commission citing unfair Chinese trade practices.  Allegations contend  Chinese solar energy subsidies and exporting practices place United States manufacturers at a disadvantage and leaves them vulnerable to closing, threatening American jobs.  The U.S. solar panel manufacturers are asking the government to place a tariff on the import of Chinese manufactured solar panels so that prices favor domestically produced solar panels.

What do Critics say?

Critics of U.S. solar panel manufacturers contend that a tariff on Chinese produced solar panels would stifle the booming green energy segment of the U.S. economy.  Companies that install and maintain solar energy equipment for U.S. consumers say that the tariff could adversely effect growth and jobs within the industry.  According to experts, the proposed tariff could increase the cost of adopting solar energy domestically around 20%.  This could cause adverse effects throughout the greentech industry, negatively impact U.S. consumers, and halt a decade long trend toward broader domestic adoption of green energy.  Technicians and manufacturers of related technologies are sounding the alarm about the Tariffs potential effects.

Brightsource Energy received a $1.6 Billion dollar loan guarantee from the U.S. Department of Energy in April 2011 to maintain 86 permanent operations and maintenance jobs.  Initial filing for an IPO with the SEC occurred during the same month and reflected positive market conditions for the solar power industry.  This trend of positive market favor and United States policy has ended and so has the IPO of Brightsource Energy.  The venture capital and corporate backed green energy company invariably has a lot of interest in the fate of proposed Chinese solar panel tariffs and the stability of the business depends on U.S. government policy.  Brightsource with its business being the building of large solar power plants utilizes large solar mirror arrays.  The cost of these arrays is an important component to the ongoing sustainability and profitability of Brightsource Energy as a leader among greentech industries.

It is clear that Brightsource Energy’s CEO and Board of Directors had no choice but to back out of the IPO.  The decision was based on unfavorable market conditions and the current volatility within the green energy industry.  Consumer preference for low-cost Chinese photovoltaic solar panels and changes in U.S. government policy was substantial enough to frighten away investors. Withdrawing the IPO was the only way for the CEO and Board of Directors to protect the companies investors and ensure the survival of Brightsource Energy.

American Airlines

With a potential merger between US Airways and American Airlines already in place, the airline industry is experiencing yet another shakeup. If the merger is approved by the unions and the federal government, it would in effect create the largest airlines in the United States. There still lie a few challenges ahead for those who want to see the merger go through. First of all, American Airlines recently filed for bankruptcy, a process that can take years. In order for the proposed airline merger to be approved, the bankruptcy court first has to rule that American Airlines has the right to merge while in bankruptcy. Next, unions for both of the airlines will have to vote to approve the merger. Finally, the United States Transportation Department will have to conduct their own research and hand down the final approval for the merger.
Union Support for a US Airways-American Airlines Merger
American Airlines has three major unions which most employees belong to. On May 4th, 2012, the three unions jointly sent a letter to the board of directors of American Airlines expressing support for the merger as a viable solution to bring American Airlines out of bankruptcy as well as to provide customers with the best flying experience. Currently, the leadership of American Airlines is fighting with the unions to impose their own work rules and payments, as well as to terminate any current contracts, in order to consolidate the company and keep them from going under. The Unions, who have 60,000 employees from just American Airlines, see the merger as a way for the ownership to end the bankruptcy fight, and for the workers to get a fair contract.

Customer Benefits of a US Airways-American Airlines Merger
Analysts are trying to determine the full effects that a merger will have on air travel. While many people in the industry say it’s the best course for both businesses as well as the employees, the benefit of travelers has yet to be determined. A frequent airline reporter, Seth Miller, made his opinions clear on the merger: “There’s not a single positive aspect of the merger for consumers” he stated. The reasoning is that with less airlines and less competition in the market, fares have no way to go but up. With a near monopolization of the industry that the country’s largest airline would create, the newly merged company will have the ability to impose any price they wish on customers, and with one of the largest airlines in the world no longer competition, customer satisfaction is going to have a dramatic decrease.

Historical Effects of Airline Mergers
As with every merger, competition in the industry is going to suffer, and there will always be critics. Unlike most other industries, airliners have gone through major mergers in the past, and the results have been thought-provoking. It is true, that recent mergers, such as the United Airlines one in 2010, caused slightly higher prices for consumers. However, that rise in costs can in no way be attributed to the merger. With previous mergers over the last 15 years, no pattern has been set in fare prices, leading us to believe that a rise or decrease in costs after a merger is not a result of a decrease in competition.
The problem lies with American Airlines more than the merger itself. American Airlines has attempted to purchase or merge with many companies in the past, such as AirCal and others. AA has not had a good business platform throughout its existence, and it’s largely due to the fact that with the previous mergers, their only objective was to get rid of the competition, not to increase the quality or availability of air travel. On the contrary, this isn’t American Airlines looking to merge with a smaller company; it is US Airways, the 5th largest airline in the country, trying to increase their own exposure, while saving employees and customers the hassle of the bankruptcy battle that American Airlines is currently going through.

Possible Outcomes of a US Airways-American Airlines Merger
If American Airlines does in fact approve the merger, and any injunctions against it are lifted, the results will be mixed. First, the current financial troubles of American Airlines will no longer exist. If the merger does not go through and AA has to go through bankruptcy court in order to keep functioning, they will have no choice but to lay off thousands of employees. This tremendous toll on airline workers can be quashed if the merger goes through the way US Airways expects it to. On the other hand, both American Airlines and US Airways have the worst customer service ratings by customers out of every major United States airline. Mergers always cause headaches in the support world, as one airline has a different culture and procedures than another. It’s been estimated that if this merger does in fact become reality, the new airline will probably have the worst customer service feedback for any airliner in the USA.
When can a Merger be Expected?
There are currently three major hurdles that need to be overcome in order for the two airlines to successfully merge. First, Bank of America is going to have to approve a merger plan. At this point, US Airways is the only party who is publicly interested in the merger; so many details still need to be worked out. Second, the Justice Department needs to rule that Bank of America does not have the authority to drop current contracts with the Union, as well as drop any possible injunctions due to the merger. Finally, the Department of Transportation is going to have to do a short research study on the effects that the merger will have. Once this study is complete, they will give their recommendation as to whether it should proceed. Once these three steps are successfully completed, both boards of the company will sign the final merger agreement, when at that point, US Airways and American Airlines will be one company.

Photo: www.aa.com

kelloggs

Kellogg’s plans to sweeten its’ brand offering with a touch of salt in 2012. Their newest property is the recently purchased Pringles flagship, and the buy represents Kellogg’s effort to chip away at the growing international snacks market.

But what’s a cereal monogamist like Kellogg’s doing in the international snacks market anyway? Well, it turns out cereal isn’t filling the sales bowl like it once did. The category flat-lined for Kellogg’s three years ago due to a proliferation of generic taste-alike brands and consumer boredom with cereal as the convenience food that no longer seemed so convenient. Packaged snacks became the new banner food for convenience (no bowl, no milk), and business is booming, especially internationally.

Brand Keys has researched both categories extensively in our Customer Loyalty Engagement Index and found that what drives brand engagement and loyalty for snack food differs significantly from breakfast cereal breakfast. For snacks, the most important contributors are brand trust and appeal for the whole family. In the cereal category, however, it’s all about the brands that help you maintain your lifestyle (like weight management).

Kellogg’s approach in this category has given them many strong entries, with rankings looking like this:

1. General Mills Cheerios
2. Kellogg’s Special K
3. General Mills Honey Nut Cheerios
4. Kellogg’s Frosted Mini Wheats
5. Post Honey Bunches of Oats
6. General Mills Fiber One
7. Kellogg’s Rice Krispies
8. Kellogg’s Raisin Bran
9. Kellogg’s Corn Flakes
10. Quaker Life
11. Post Grape-Nuts
12. Post Raisin Bran
13. General Mills Kix

It’s said that breakfast is the most important meal of the day, but now if brands want to feed the bottom line, snacks appear the way to go.

Eurozone Manufacturing_Sector

The manufacturing sector of Eurozone showed a sharp shrink in almost three years in April, while the data from Asia seems to be very impressive for the quarter. The numbers from the US manufacturing sector also showed a surprising rise in factory growth which left Eurozone as the weakest link in the economic chain with the austerity programs and fiscal crisis taking a toll.

Germany’s manufacturing sector showed a downfall for second consecutive month while France had the similar story to tell.

Eurozone crisis is showing no signs of improvement lately and it’s rather facing a downturn with the updated manufacturing sector data coming in.

With the Eurozone currency bloc already being under the threat of a failure is likely to keep moving towards recession until the third quarter. With China’s HSBC PMI below 50 for the sixth consecutive month, UK, a major trading partner of Eurozone also showed a shrink in manufacturing sinking itself more into recession.

Unemployment soaring to new heights

Eurozone Crisis gets worse with its unemployment rate rising to new height in March as 169,000 people lost their jobs. Eurostat, Eurozone’s official statistics agency published the unemployment rate update for Eurozone which indicated a rise from 10.8 % to 10.9 early this year. This matches the highest peak in last fifteen years.  The number of jobless people increased by about more than 1.7 million in last one year while this has been the highest in last 15 years.

The rise in unemployment will certainly bring consumer spending down very soon and Eurozone crisis will have a tough time in climbing the ladders of recovery. This will also bring a discontent amongst most members of the Eurozone with the austerity programs put in place.

Demonstrators were reported to be turning out in huge numbers for May Day rallies in the Eurozone countries on Tuesday. They held protests against their governments’ applying austerity programs and gaining popularity with elections coming up in Greece and France on May 6.

While new orders continue to fall, the manufacturers are forced to lay off more and more people and hope of jobs market to turn around in near future seems like a dream.

Eurozone is under a huge debate right now whether austerity is making the Eurozone debt crisis worse rather than helping to resolve it. Optimistic members of the Eurozone still have a hope that foreign demand with help their economies prop up at such an extent that they will be soon be capable of their own budget retrenchment.

Spain downfall strengthens threat on debt crisis

The economic problems of Spain were put in strong relief after figures showed that unemployment is near 25 percent Friday. This happened a day after a credit ratings agency demoted the country’s debt rating and warned it faces an uphill battle to get a grip on its finances.

The figures showed that unemployment has spiked to 24.4 percent (almost 25 percent)in the first quarter of 2012. Now this is currently the highest rate among all the 17 eurozone countries. Spain jumped up from 22.9 percent in the fourth quarter of 2011 to 24.4 percent in the first quarter of 2012. It said another 365,900 people lost their jobs in the first three months of the year, taking the total unemployed to 5.6 million.

It has been believed that these figures are representing yet another blow to the traditional and conventional government after S&P became the first of the three leading credit rating agencies to strip Spain of an A rating. S&P even cautioned about a further downgrade possible, as it left its outlook evaluation on Spain at negative.

Blaming the downgrade for causing market unrest

Sony Kapoor, managing director of Re-Define, an economic think-tank said, “Some will blame the downgrade for causing market unrest; instead it is merely a symptom of much deeper problems endemic in the Spanish economy and banking system. More than anything else, this is the result of the deeply flawed and self-defeating approach to the eurozone crisis that European Leaders have embarked on”.

The Spanish market reacted negatively to the twin news. The main IBEX index was down 0.8 percent by the middle of the morning, while the yield on the country’s ten-year bond spiked 0.14 percentage points to 5.93 percent. Spain is now considered as the epicenter Europe’s debt crisis in recent weeks as investors worry over its ability to push through austerity and reforms at a time of recession and mass unemployment. With the shrinking economy and restless population, it has now become a matter of concern that the government will not meet its targets and will be forced into seeking a financial rescue as Greece, Ireland and Portugal have done before.

Warnings about the crisis enveloping Italy

The difference is that Spain’s economy is double the size of the three countries that have already been bailed out. The other eurozone countries would struggle to muster enough money to rescue it. Even if the eurozone finds the financial capacity to bail out Spain, economists warn the crisis could then envelop Italy, the eurozone’s third-largest economy, which owes around €1.9 trillion ($2.5 trillion), more than double Spain’s €734 billion.

Gary Jenkins, managing director of Swordfish Research said, “With a potential change of President on the agenda one might think that France could be next in the firing line. It will of course depend to some degree on the policies of the next President and it may well be that a Hollande-inspired move towards common eurobond issuance may well placate the agency”.

Now people are afraid that France, the second-biggest eurozone economy, also could face a downgrade from S&P after the presidential elections, where in Socialist candidate Francois Hollande is tipped to defeat President Nicolas Sarkozy.

People's Liberation Army

For years now, almost all the countries in the world have an army of its own, which is committed to protecting the national interests of the country against enemies. Although, armies across the world have numerous of differences and variations, ranging from their structure, composition, technology, training and the abilities of their members, there is always something in common which allows us to figure the armies overall strength. A common measuring tool for figuring this is the size, which consists of the number of personnel serving in the organization.

A Wise Chinese man once said, “In order to attack the strong, you must nurture them to make them even stronger.”

People commonly believe that every country should have the power to provide employment, especially if it has a population in excess of 1 billion. Well, that’s just a saying, but it is even applicable to countries that have a lesser population. So, this obviously shouldn’t come as a surprise that the world’s most populous countries are home to some of the biggest employers on the earth.

Chinese military is an integrated military organization of all – land, sea, strategic missile and air forces of the People’s Republic of China. The People’s Liberation Army was established on August 1, 1927 — celebrated annually as ‘People’s Liberation Army Day’. The People’s Liberation Army is the military arm of the Communist Party of China. Its emblem consists of a roundel with a red star bearing the Chinese characters for ‘Eight One’, which refers to August 1, the date of the 1927 Nanchang Uprising.

The World’s Biggest Armed Force was founded on 1 August 1927 during the Nanchang Uprising when troops of the Kuomintang rebelled under the leadership of Zhu De, He Long, Ye Jianying and Zhou Enlai shortly after the end of the first Kuomintang–Communist alliance. They were then known as the Chinese Red Army. Between 1934 and 1935, the Red Army survived several campaigns led against it by Generalissimo Chiang Kai-Shek and engaged in the Long March.

The Chinese Army is the largest armed forces in the world, with approximately 3 million members, and has the world’s largest active (standing) army, with approximately 2.25 million members. The World’s Biggest Armed Force encompasses five main service branches: Ground Force, the Navy, the Air Force, the Second Artillery, and the People’s Armed Police. Following the 200,000 troop reduction from 2003 to 2005, the total end-strength of the People’s Liberation Army has been reduced from 2.5 million to 2.3 million. There are 660,000 personnel serving in the People’s Armed Police (PAP), and 1.2-1.5 million in the reserve forces and militia. The People’s Armed Police is a Chinese paramilitary force under the dual leadership of the Central Military Commission and the Ministry of Public Security. People sometimes confuse considering PAP as a branch of the People’s Liberation Army.

There are a number of organizations within militaries – you have active forces, reserve forces, civilians, and also those that might be working as contractors – so it depends really what you’re trying to count when you look at headline numbers. James Hackett, the editor of Military Balance said, “What we try and do is look at active service personnel, so those in uniform who are capable of operating on behalf of the state to fulfill the national security concerns of the militaries”. May be this is one important reason that the People’s Liberation Army is large compared to other militaries stems from its composition as a mainly conscript-based force. Now other militaries in the West and across the world have moved to volunteer corps.

In the 1980s, the Chinese military was shrunk considerably to liberate resources for economic development, resulting in the comparative decline in resources devoted to the People’s Liberation Army. Reform and modernization have today resumed their position as the People’s Liberation Army’s priority objectives, although the armed forces’ political loyalty to the CPC has remained a leading concern. Another area of concern to the political leadership was the People’s Liberation Army’s involvement in civilian economic activities. These activities were thought to have impacted People’s Liberation Army readiness and have led the political leadership to attempt to divest the People’s Liberation Army from its non-military business interests.

The World’s Biggest Armed Force is studying the unconventional tactics that could be used to exploit the vulnerabilities of a more technologically advanced enemy. This has been reflected in the two parallel guidelines for the People’s Liberation Army ground forces development. While speeding up the process of introducing new technology into the force and retiring the older equipment, the People’s Liberation Army has also placed an emphasis on asymmetric warfare, including finding methods of using existing equipment to defeat a technologically superior enemy.

Josef Ackermann _CEO of Deutsche Bank

Deutsche Bank AG reported a fall in its first-quarter net profit by one-third from a record level a year earlier. Deutsche Bank blames this on the sluggish client activity, which has continued to pressurize investment banking activities across the board and due to exceptional charges has resulted in the bank’s effort to reduce risks.

Outgoing Chief Executive Josef Ackermann said, “We continue to pursue our strategy of reducing legacy risks and strengthening our capital position”. He added that Deutsche Bank still posted “solid results” against the backdrop “of continued caution in global financial markets”.

Less Profits than Expected

The biggest lender of Germany has posted a net profit of 1.38 billion Euros, less than the 1.64 billion Euros what analysts had expected and less than the 2.06 billion Euros last year. The efforts of the bank to lessen the risks and strengthen the capital position led to destruction charge of exceptional 300 million Euros on exiting the exposure to generic drug maker Actavis and 210 million Euros proceeding related expenses.

The narrowly observed pretax profit of 1.88 billion Euros fell short of the agreement estimate of 2.44 billion Euros, although at least rolled back from a loss in 2011’s last quarter, when Deutsche Bank and the banking sector were hit hard by heavy debts from the eurozone debt crisis and a loss in the investment banking unit. Deutsche Bank’s performance reflects one of the Swiss rivals Credit Suisse. It also reported a sharp drop in net profit for the first quarter due to an accounting loss on its own debt and lower revenue at the investment bank.

Investment Banking Revenues Doubled Compared to Previous Quarter

Barclays Capital research note published this week said, “Investment banking revenue at Morgan Stanley, Citigroup, Bank of America, JP Morgan and Goldman Sachs more than doubled compared with the previous quarter and leveled with the first quarter 2011”.

U.S. banks Goldman Sachs, Morgan Stanley and JP Morgan Chase, for now reported surprisingly strong Q1 results as an improvement in capital markets and the economy helped the banks to show a stronger rebound from a lackluster fourth quarter.

Chief Financial Officer Stefan Krause said in an analyst presentation, “Lower year-on-year revenues reflect ongoing uncertain macro environment and deliberately lower inventory and value at risk levels”. Pretax profit in Deutsche Bank’s investment banking unit fell by one quarter to 1.7 billion Euros as revenue in almost every segment declined.

Sluggish client activity and thus falling revenue also affected Deutsche Bank’s private and business client operations, where profit halved to 413 million Euros. On the flipside, the group’s global transaction banking unit increased profit by about one-quarter to 340 million Euros on the back of growth in fee and interest income, the bank said.

Harli Jordean

We love the kids, don’t we? But Harli Jordean, the 8 year old kid, soon to be 9, is just too cute. Harli Jordean was born in Stoke Newington, London in spring 2003. And he is definitely not your average eight year old.  When his friends are busy playing computer games, he is engaged in buying stock, liaising with suppliers and handling orders for his internet marble empire, Marble King. This tiny little lad is not only absolutely adorable, but also a potential businessman.

Nearly for the past two years, petite Harli Jordean has been selling marbles. Marble King, Harli Jordean’s successful marble company, sells everything that is marble-related, from affordable tubs of the glass playthings to significantly pricier items like Duke of York solitaire tables. And what’s great about this is that the mini CEO himself sources purchases and processes these items.

London’s tiny tycoon has been running the blooming, prosperous and successful marbleking.co.uk website for two years, selling anything from tubs of marbles to £599 limited edition Duke of York solitaire tables. Marble King is now turning over thousands of pounds each year – with orders flooding in from as far away as America.

Harli Jordean’s marble company has a long story behind its evolution. After losing his marbles to an older boy, Harli and his mom Tina turned to the Internet to find replacements for ordering more marbles. Yes, he literally ‘lost his marbles.’ And after they struggled to find anywhere dedicated to selling Harli’s favorite toy, he begged his mum, Tina, to let him start his own site, Marble King, selling marbles. And at just eight he started a successful marble company. Harli has always been mad about marbles. Infact, the 8 year old started the business two years ago after becoming frustrated with the lack of marble choice for his own collection.

Harli became so busy that he even had to employ his mom and two older brothers to help him cope with the sheer demand for products on his website. The world’s youngest CEO now has his mom and brothers in his management team, helping him meet the growing demand since his company, Marble Kings is earning profits now in the thousands. Within months of launching, Tina was shocked to see orders flooding in – with Harli handling them all on his own.

Harli Jordean’s dream is to have a chain of stores like Hamleys. He dreams of making his store one of the biggest toy stores in the world selling all sorts of marbles. Harli’s friend love that he has his own business. Harli said, “At first some of them didn’t believe me – but they do now. They are some of my best customers”.

Harli’s mom Tina said, “Harli has been obsessed with marbles ever since he was six. He used to sleep with them under his pillow. The last thing he talks about before going to bed is marbles and they are the first things he mentions in the morning”.

Harli’s obsession became so big that his family started calling him the Marble King. So when he wanted to set up a website it was the natural name for it. Harli’s mom thinks that this would indeed be a good way to teach Harli some great life skills and show him responsibility. Tina never thought Harli’s marble company, Marble King, would become so popular that they would actually have to struggle to cope with the number of orders at times.

Tina says Harli now wants to mass-produce his own branded marbles in China – before selling them the world over in his own shops. Tina believes that as a boss he is very amenable and has his own ideas of how to do things. Harli is fiercely ambitious and is very determined and outgoing. But sometimes his ideas are so majestic that his mom and elder brothers have to resize them to make it a reality. Well, his dream is still to own Britain’s biggest marble shop and open stores around the world. At the minute Harli is pestering his mom about creating his own Marble King marbles, so that could well be the next step for him.

Harli’s first business, the Marble King (UK) company is now turning over thousands of pounds and demand for products is extremely high from the UK and many countries of the world, such as Brazil, Mexico, Tawain, Poland, Greece, Italy, France to mention just a few…most kids just love marbles!

Harli said, “My future looks bright at present and I feel it is just the beginning and first of what I hope to be many business ventures and adventures that I will be embarking on along the way, after all time on my side…I’m going to turn just nine”.

Vinci Constructions

Vinci is a French construction and concessions company. Vinci was formerly called Société Générale d’Enterprises. There are over 179,000 employees working at Vinci and it is the largest construction company in the world by revenue.

Vinci Construction UK is a national construction and facilities company. Vinci Construction UK is a national civil engineering, construction and facilities company and is the largest UK subsidiary of Vinci. Vinci is listed at Euronext’s Paris stock exchange and is a member of the CAC 40 index. Its head office is in Rueil-Malmaison.

At local level Vinci Construction’s regional teams operates throughout the UK, offering a fully-integrated service. Vinci Construction offers our customers unparalleled breadth and depth of expertise. The construction company has strong working relationships with other Vinci companies and subsidiaries in the UK, all of which are leaders in their field. Therefore, Vinci has been able to leverage ideas, skills and entrepreneurial flair to deliver top quality work in all sectors.

Vinci Construction UK has a history of over 90 years in the UK and has delivered some of the country’s landmark structures and buildings.

John Stanion, Chairman and Chief Executive at Vinci PLC said, “Our people have a passion for what they do, both in support of our business and in pursuit of their own personal career goals. This is what enables us to attract and retain the very best the industry has to offer. The result is a highly dedicated and skilled team of individuals that gives the company its vitality and ‘can-do’ attitude”.

As part of a world leader, Vinci has the strength to maintain its course and continue to make things happen on budget and on time. In a period of global uncertainty, this strength and dependability sets Vinci apart from the rest.

Vinci Construction ensures that the clients have direct access to the people running their project, and the team responsible for its delivery. This helps Vinci crea

te working relationships based on dialogue, collaboration and trust.

Andrew Ridley-Barker, Managing Director, Vinci Construction UK said, “We expect our employees to achieve the highest standards of professionalism in all they do and we undertake to treat them fairly and with the courtesy and respect they deserve”. The policy of the Group is that all applicants for employment and existing employees shall be given equal opportunities in all areas of employment. Vinci PLC offers substantial scope for personal development in support of both the goals of the business and individual career aspirations.

John Stanion added, “Our consultants and engineers are experts in all aspects of environmental sustainability including energy efficiency, ecology and waste management. They constantly seek to introduce environmentally sustainable solutions to the construction process”. In fact, Vinci’s Technology Centre is the largest in Europe to supply practical and technical support to the construction industry.

Vinci Construction rewards and encourages innovation across the business through Vinci’s Innovation Awards program. By sharing the latest thinking and technologies, they continually strive to add value by doing things differently.

The DLR Three Car Capacity Enhancement project specified extensive strengthening works to original concrete and steel viaduct structures. Working closely with Gifford, Vinci used strain-gauging to determine actual, rather than theoretical, stresses at the bid stage. This process enabled them to show that the residual life of the existing structures was greater than originally thought. It also reduced the extent of the strengthening works, provided significant cost savings, and helped to mitigate the environmental noise impact of the contract.

Vinci manages complex projects within live airport environments. Over the years Vinci has built up strong working partnerships with the world’s leading airport operators. Vinci understands the complex challenges of the modern airport environment, and this enables them to bring certainty and professionalism to all aspects of airport development and maintenance.

Vinci also has its presence in construction, upgrade and refurbishment. Vinci undertakes small to medium sized upgrade and refurbishment contracts throughout the UK at the same time as constructing multi-million pound landmark structures that feature prominently in some of the UK’s major towns and cities.

The rail and underground projects are a milestone for Vinci Construction. The company has a long history of working in rail environments. Over the years Vinci has developed, upgraded and refurbished some of the most iconic rail and underground stations in the UK. Vinci is a market leader in station redevelopment and capacity enhancement, and it adepts at managing the design process to ensure customers’ needs and expectations are met.

Through its early involvement in road projects, Vinci has been able to provide expert construction and sustainability advice. This enables the company to minimize the whole-life costs and environmental impacts associated with operating motorway and trunk-road infrastructure.

Mount_Roraima

Within the heart of Venezuela’s dark and mysterious jungle lie islands; not islands with coconut laden palm trees swinging in the warm summer breeze or crystal blue water lapping backwards and forwards onto white sandy beaches, but isolated islands of sandstone which have eventually been forgotten by time.

To the Pemon, the aboriginals of the region known as the Gran Sabana, these flat-topped mountains are called tepuis. Mount Roraima is the tallest of tepui plateau in the Pakaraima chain in South America. Mount Roraima is on the three borders of Venezuela, Guyana and Brazil. Most of these tepuis are remote and are almost permanently shrouded in mist and clouds, even during the dry season. Thunderstorms are frequent and heavy downpours are a way of life. Some of the tepuis even have swamp-like surfaces while others have been washed by rainfall to almost sheer sandstone.

Well, this might look like it’s straight out of a sci-fi movie, but this natural wonder is completely real, and totally breathtaking. Mount Roraima, bordered by Venezuela, Brazil and Guyana, is surrounded on all four sides by sheer 400-meter high cliffs. While its cliff walls are only scalable by the most experienced of climbers, there is a hiking path up the mountain’s natural ramp-like path, usually a two-day hike. Cerro Autana is to the south of Puerto Ayacucho, a city on the outskirts of the Orinoco jungle near Colombia. This is a sacred mountain of the Piaroa Indians who believe it is the trunk of the tree bearing the fruits and seeds of the land.

Mount Roraima is only 1220m high but has a labyrinth of caves near the summit. During certain times of the year, the sun’s rays shine in on one side of the mountain and out the other. Nearby is Cerro Pintado or the Painted Mountain, which has the largest petroglyphs in Venezuela, including a fifty metre snake that is said to represent the Orinoco River.

Mount Roraima is worth a visit for more reasons than its impressive cliffs. The majestic Mount Roraima is the highest mountain in the Pacaraima Mountains. Mount Roraima is part of Venezuela’s Canaima National Park, a UNESCO World Heritage Site. Angel Falls is also part of this beautiful park. Mount Roraima’s highest point is Maverick Rock at 2,810 meters (9,219 feet), and the whole of Mount Roraima’s fairly flat top surface area is surrounded by 400+ meter (1,312+ feet) high sheer cliffs.

Mount Roraima can be climbed, though all routes besides the Paraitepui route require technical climbing gear. Mount Roraima, part of Venezuela’s 30000-square-kilometer Canaima National Park, is the site of the highest peak of the country of Guyana’s Highland Range. The mountains of this range, including Roraima, are considered to be some of the oldest geological formations known, some even dating back to two-billion years ago. Mount Roraima’s near daily rains have also created a unique ecosystem which includes several endemic species, including a unique carnivorous pitcher plant, and some of the highest waterfalls in the world.

Mount Roraima has long held significance to the aboriginals of the area and features prominently in their legends and folklore. It was also the inspiration for the Sir Arthur Conan Doyle’s novel, The Lost World. This breathtaking mountain also made an impact in the entertainment world. Mount Roraima was the inspiration for Academy Award winning movie Up’s Paradise Falls.

Mount Roraima possesses a spectacular array of unique and beautiful flora and fauna. Each level of Roraima contains a distinct vegetative zone with its own collection of flora that adapted to survive to the appropriate type of soil and climate. Mount Roraima’s lush tropical rainforest causes light to be sporadic. Insectivorous plants have adjusted perfectly to life at the summit due to the poor and acidic soil located there.

Similarly, the base of the mountain serves as a home to a plentiful amount of carnivorous plants. Unique, incomparable and rich are the only ways to describe Roraima’s biogeography. The steep sides, encircling rainforests, and altitude produce a distinctive climate in the surroundings that are significant for its ever-changing nature. Humid air rises off the rainforest along with the heat of the tropics to create intense clouds of rain that roll upwards to the top of Roraima and set off repeated rain showers. The elevation makes the nights chilly.

Mount Roraima has a fluvial landscape. Streams are perennial due to the lack of a dry season. These meandering streams flow all year long. Streams on Mount Roraima may appear calm, but they do have a high velocity which can make for quite a challenge. Fluvial erosion on Roraima has led to uniquely shaped valleys. Mount Roraima’s streams can easily reach stability and balance with the aid of Angel Falls. Since the waterfall is so tall, a large break in slope occurs and knick points are readily removed.

The vast supply of flora and fauna found on Mount Roraima exists nowhere else in the entire world. Incredible scientific advancements have been made due to this fact. Botanists and biologists travel to the mountain to gain a better understanding of the evolution of these species. There are some plants on Roraima that are descendants of extinct breeds.

Nokia Chief Executive Officer_Stephen Elop

The world’s biggest mobile handset maker, Nokia Corp., has made heavy losses in the Q1. Nokia says that it has faced much greater than expected competition and challenges in its ongoing strategy revamp.

Stephen Elop, Nokia’s Chief Executive said, “We are navigating through a significant company transition in an industry environment that continues to evolve and shift quickly. Over the last year we have made progress on our new strategy, but we have faced greater than expected competitive challenges”.

Nokia is believed to be missing analysts’ expectations

Nokia Corp said, “We are operating loss for the three months to March 31 totaled €1.34 billion, from a €439 million operating profit a year ago, missing analysts’ expectations for a €731 million loss by a wide margin”. Net loss grew to €929 million from a €344 million net profit for the Q1 last year, going against expectations for a €554 million loss. Revenue dropped 29 percent to €7.35 billion.

Nokia Corp has been struggling over recent years to compete in Western markets against Apple Inc.’s iPhone and smartphones from Asian manufacturers like Samsung Electronics Co. Ltd and HTC Corp. Now the Finnish company’s dominance in developing markets is declining.

In the Middle East, Asia-Pacific and Africa, there has been an increasing gush of cheap smart phones and consumers are avoiding basic Nokia phones in this competition. Hence this competition is strongly affecting the Nokia Corp. Google Inc.’s Android mobile phone software has stolen what Nokia was providing and the Internet giant provides these apps free of charge to handset makers.

Intense competition hit Nokia’s performance

Intense competition in fast-growing emerging markets, warned by Nokia last week, would hit its performance in the first half of this year. It undergoes a major strategy refurbishment

Nokia is dumping its in-house phone operating software, Symbian, now considered by many to be clunky and old-fashioned, and is switching to Microsoft Corp.’s new Windows Phone software for its mobile handsets. Nokia’s Q1 operating margin at its largest Devices & Services unit was a negative 5.2%. Nokia said it expects the Q2 to be similar to, or below, the first quarter level.

Nokia also lay off nearly 14,000 employees last year as it plans to cut €1 billion from its operating costs by 2013. It hasn’t ruled out further cuts and on Thursday said it plans to accelerate and substantially deepen cost savings for its Devices & Services unit and will give further details soon. Nokia Corp also said that it shipped 82.7 million devices in total in Q1, down from 108.5 million devices in Q1 last year.

Nokia’s shares have dropped nearly 60 percent since the company announced its transition from Symbian to Windows Phone in February last year. Nokia is now Finland’s second-largest company by market capitalization.

Its smartphone shipments, which include its old range of Symbian devices as well as its new Windows-powered Lumia range, were at 11.9 million, down from 24.2 million a year ago. Average selling prices for smartphones declined 2 percent  year-on-year to €143, while average prices for basic phones were at €33, down from €40 a year ago.

Warren Buffet

Warren Buffett was diagnosed Tuesday with prostate cancer, a development that would probably heighten the questions over his successor as the chief executive of his corporation, Berkshire Hathaway. However, Mr. Buffett has made it very clear that he would continue to run his corporation, writing to shareholders that the disease was in Stage 1 and that he had been told by doctors that it was not remotely life-threatening or even debilitating in any meaningful way.

Buffett Diagnosed with Prostate Cancer

The disclosure of the diagnosis was made just three weeks before Berkshire’s annual meeting, when thousands of shareholders descend upon Omaha, Mr. Buffett’s hometown, and for two days celebrate him as an investing giant.

A diagnosis of prostate cancer at Stage 1 means the disease has been detected at a very early stage and it has not spread beyond the walnut-size prostate gland. According to data from the National Cancer Institute, the 10-year survival rate for men with localized disease is 99.5 percent. Stage 1 prostate cancer is typically found as a result of a prostate specific antigen, or P.S.A., blood test that leads to a needle biopsy. The United States Preventive Services Task Force recommends against P.S.A. screening for men over 75, because even if cancer is detected during screening, its slow nature means the disease is unlikely to kill him and he will die of other causes.

Fierce Speculations on Succession of Mr. Buffett

Succession at Berkshire had been a topic of fierce speculation on Wall Street since long, even as some elements of Mr. Buffett’s plan have already been disclosed. His son Howard will become non-executive chairman of Berkshire, and two former hedge fund managers have been hired to eventually take over the company’s vast investment portfolios. In February, Mr. Buffett told investors that he had selected a successor for chief executive, but he did not name the person.

Whitney Tilson, the managing partner at T2 Partners and a Berkshire shareholder said, “Go to any actuarial table; a healthy, stress-free 81-year-old has a 12-year life expectancy, and I’ll take the over on that”. Still, Mr. Buffett’s letter was a reminder that he would eventually hand over the reins of Berkshire, a sprawling empire of insurers, a railroad operator and scores of other companies.

With over 50-year tenure of Mr. Buffett’s as chief executive, Berkshire has seen itself grow into one of America’s largest corporations, with a market value of nearly $201 billion. Considering that the operations that touch nearly aspect of the nation’s economy, it is sometimes considered a proxy for the business health of the United States.

The leading candidates are thought to be three of the company’s top lieutenants: Ajit Jain, the head of Berkshire’s vast reinsurance operations; Matthew Rose, chief of Burlington Northern Santa Fe; and Tad Montross, the leader of the General Re insurance subsidiary.

Meyer Shields, an analyst with Stifel Nicolaus said, “The risk is not so much who takes over for Buffett. It’s the fact that whoever takes over won’t be Warren Buffett. It will be a step down in perception and in reality”.

Muhtar Kent_CEO Coco-Cola Company

The consumption of Coca-Cola Company’s countless beverages in India led to a growth in its sales around the world in the Q1, where volume soared 20 percent. The growth has definitely pushed the company’s earnings above what the analysts’ expected, that is, to $2.05 billion, or 89 cents a share, in the quarter ended March 31, compared with 82 cents a share in the same quarter last year.

Cracking the calculus in this challenging environment

Muhtar Kent, chairman and chief executive of Coca-Cola, whose brands include Fanta, Vitaminwater and Minute Maid juices said, “That says more than anything that we’ve been able to crack the calculus in this challenging environment”. Coco-Cola’s revenue grew 6 percent to $11.14 billion, compared with $10.5 billion in Q1 last year, driven by a 5 percent increase in sales volume driven by even larger increases in emerging markets. After India, China experienced the greatest growth, 9 percent, followed by a more modest 4 percent in Brazil.

Mr. Kent characterized Coco-Cola’s success to investments it continued to make during the economic downturn that are now paying off as the American economy is slowly stabilizing and emerging markets are gaining even more pressure. He believes that the Americans have begun traveling and eating out more, which increases sales of the company’s products. But sales in Europe remain weak and show little sign of improvement.

Higher pricing also contributed to better earnings, a strategy that so far has helped all of the beverage companies weather last year’s surge in commodity prices and lackluster demand for their core products. Ali Dibadj, a stock analyst who follows the beverage industry at Sanford Bernstein worries that the company might reconsider that tactic to preserve market share. He said, “It’s been a positive thing both for the industry and for retailers, and so that it’s looking like they may slow it down makes me a little nervous. It would mean a new price war, which wouldn’t be good for the industry”.

Growth in all major markets

Scorched consumers worldwide contributed in strengthening the Coca-Cola Company to 8-per-cent growth in net profit for the first quarter of 2012. Net profit jumped to 2.1 billion dollars, from 1.9 billion dollars in the same period in 2011. That was powered by a 6-per-cent boost in overall revenues, to 11.1 billion dollars, as opposed to 10.5 billion dollars in the first three months of 2011.

The company’s statement noted growth in all major markets, with 5-per-cent global growth by volume. Some countries saw significant sales boosts, with overall sales spiking by 20 per cent in India and sale of Coca-Cola-branded items rising by 27 per cent there. But the company said it had no intention to rest on its laurels as it continues to work on a roadmap it calls its 2020 Vision.

Muhtar Kent said, “We continue to see vast opportunities for the Coca-Cola system across the more than 200 countries we serve. The quarter’s performance demonstrates that the company continues to refresh a thirsty world”.

CITIGROUP

Citigroup made profits of $2.9 billion in the first three months of the year. Citigroup said that it had been helped by record revenue from processing transactions for its international clients and more customers repaying loans on time. Citibank fell short of the $1.01 expected by analysts surveyed by FactSet, even though it earned 95 cents per share. Revenue fell 2 percent to $19.4 billion from the year-ago quarter.

This means that Citigroup has faced a slight drop compared to the same quarter last year. However, this is a big jump on the bank’s profit of 1.2 billion dollars in the fourth quarter of 2011 when financial markets were struggling under the effects of the eurozone financial crisis.

Citigroup Chief Cautious About the Recovery

Vikram Pandit, Citigroup’s chief executive, was cautious about the recovery. He said, “While the operating environment improved in the first quarter, there is still much macro uncertainty and we will continue to manage risk carefully”.

Foreign demand for U.S. Treasury debt increased 0.8 percent to a record high of $5.1 trillion in February. China has been the largest buyer of Treasury debt. China increased its holdings for two consecutive months. According to the Treasury Department, this marks the seventh straight monthly increase. A March explosion at a German chemical plant is threatening to shut down car and truck factories worldwide as companies run short of key parts.

Nearly 10 automakers and dozens of parts suppliers have been scheduled to attend a meeting near Detroit to address the problem. It would be considered a bad time for the industry if any plant closes, as auto sales begin to recover from the recession. The March 31 fire at Evonik Industries killed two workers and damaged the factory that makes CDT, a key component in a chemical used to make a special plastic for auto fuel and brake lines. It is also used in solar cells and pipelines.

Companies in U.S. Replenished at Steady Rate in February

February was a little kind when U.S. companies replenished at a steady pace, suggesting businesses are more hopeful about sales. The Commerce Department said Monday that business stockpiles rose a seasonally adjusted 0.6 percent. The outlook among U.S. home-builders dimmed in April after six months of rising or steady confidence.

The National Association of Home Builders/Wells Fargo said Monday that its builder sentiment index fell this month to 25 from 28. Last month’s reading was the highest since June 2007. The index rose for five straight months between September and February. Mattel Inc. said Monday that its first-quarter profit dropped 53 percent, pulled down by costs tied to an acquisition and lower sales for Barbie and Hot Wheels. Net income fell to $7.8 million from $16.6 million in the year-ago period. Revenue fell 3 percent to $928.4 million.

Banking giants in U.S. – JP Morgan Chase and Wells Fargo – had on Friday also reported profit rises. Goldman Sachs, Bank of America and Morgan Stanley are also to publish their first quarter results this week.

Rise in Retail Sales improves the economic outlook of U.S.

Americans purchased more electronics, began home improvement projects, updated wardrobes, inspired by warmer weather and a healthier job market.  Americans shrugged off high gasoline prices in March and spent more strongly than expected. This has led to an economic growth in the first quarter which probably was not as weak as many had feared.

The Commerce Department said Monday that there was 0.8 percent rise noticed in retail sales increased 0.8 percent, after rising 1.0 percent in February. Some of the increase went to higher gas prices. Still, steeper gas prices haven’t deterred Americans from spending more on other goods. Economist expectations were handily beaten by the last months gain, for only a 0.3 percent rise and indicated sturdy consumer spending in the first three months of 2012.

Consumers spent more last month on building materials, autos, electronics, furniture and clothing. Excluding car and gasoline sales, retail sales increased 0.7 percent. And excluding autos, gas, and home supplies, so-called “core” sales rose 0.5 percent in March, matching February’s gain. U.S. Consumer spending accounts for more than two-third of its economic activity.

Joel Naroff, chief economist at Naroff Economic Advisors, “Retail sales soared in March with stores in just about every category recording sharp increases over February levels. And let’s not forget, the February spending was strong”.

Stronger retail sales in March added to a mixed day of trading on Wall Street. The Dow Jones industrial average closed up roughly 72 points to end the day at 12,921.But the Standard & Poor’s 500 index ended the day essentially flat, while the Nasdaq composite fell 23 points.

Growth in Sales based on Boards

Last month’s sales rise was broad-based, even though Americans paid 27 cents more per gallon of gasoline than they did a month earlier. So far, Americans appear to be taking rising gasoline prices in pace, due to a soft winter that has pushed down natural gas prices and cut household heating bills.

Economists believe that the signs of strength in consumer spending reduced the chances of further monetary easing by the Federal Reserve through bond purchases, or quantitative easing, even though job growth slowed in March. The U.S. central bank meets next week and is not expected to make any major policy announcement.

Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York said, “The sales data indicates, at the moment, that no additional quantitative easing is needed. It’s simply just not necessary”.

Motor vehicle sales extended the prior month’s gains. However, the 0.9 percent rise in sales was at odds with data from dealers showing a decline in unit sales. Excluding autos, retail sales climbed 0.8 percent last month after advancing 0.9 percent in February. Americans stepped up shopping last month. Retail merchants reported a 4.1 percent increase in sales in March compared to a year ago, according to a tally of 22 retailers by the International Council of Shopping Centers.

Yuan Band Indicates Improvement in the Economy

The doubling of Chinese Yuan trading band indicates official buoyancy in the strength of the economy’s expansion and suggests that the dismissal of Bo Xilai from the communist party leadership has not hampered the policy making.

The change that took effect Monday  has added to Jim O’Neill’s confidence in a soft landing. Jim O’Neill is the chairman of Goldman Sachs Asset Management in London and has been coined the acronym BRIC for Brazil, Russia, India and China.

It is expected that the Central Bank Governer, Zhou Xiaochuan will be better able to control inflation and support the economy that the World Bank sees rapidly growing at 8.2 percent if the Yuan becomes more flexible. It is being anticipated that the whole move might actually intended to mute criticism of Chinese currency policies at International Monetary Fund and Group of 20 meetings. It has also indicated a scandal engulfing former Chongqing chief Bo, 62, which will fail to stall the nation’s economic opening up.

Stephen Roach, a professor at Yale University and former non-executive chairman for Morgan Stanley in Asia said, “The government is confident that China will avoid a hard landing, otherwise why would they introduce the possibility of greater foreign-exchange volatility”?

A Comparison in Yuan’s Performance

Experts and analysts have been anticipating that the Yuan could move as much as 1 percent against the dollar from a daily fixing rate. It is likely that the move comes after the central bank on April 14 announced the first widening of the band since 2007.

Yuan weakened 0.14 percent to 6.3030 this year as of April 13, the third-worst performer in Asia after the Japanese Yen and the Indonesian Rupiah. The currency feel Monday after a lower fixing was set by the PBOC, trading down 0.2 percent at 6.3148 per dollar.

Eswar Prasad, a senior fellow at the Brookings Institution in Washington and former head of the China division at the IMF said, “In the midst of domestic political turmoil, reform-minded officials seem to be sensing a window of opportunity to undertake significant steps towards market-oriented reforms. A renewed momentum towards currency and financial market reforms has also been seen”.

The consumers who are being targeted by Investors, commodity suppliers and foreign companies, in the world’s second-biggest economy, are focused on the risks from a cooling property market and weakness in exports as European economies impose austerity measures. While 8.1 percent moderation in growth has been noticed in the first quarter, which has been the least in three years, companies are still raising their bets on China, with Apple Inc. planning more investment and Ford Motor Co.’s China unit expanding a plant in Chongqing, the southwestern city formerly run by Bo.

Investors are Concerned About Changing Economy

Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors Ltd., which has more than $100 billion under management said, “The central bank’s move indicates that they are not as concerned as share-market investors are about the prospect of a hard landing”.

Oliver also said, “In 2008, their response to the global financial crisis was to link the Yuan back to the dollar. Now they are widening the band it shows they are a lot more confident that the big manufacturers down the coast of China won’t be adversely affected”.

Mahatma Gandhi

Leadership has been defined as a process through which a person influences and motivates others to get involved in accomplishment of a particular task. This single definition, although universally accepted, fails to define the particular paths and ways of people who are deemed as great leaders. All great leaders had something unique about them and yet they were bound by greatness that helped them to lead masses to innovation and new ideologies.

Since the oldest times known to men, masses have been led by efficient leaders. Such men and women have been responsible for ushering their people into a new and more modern world as we know of it now. Although times have changed, the contributions of these great leaders cannot be forgotten and although practices and ways of doing things have changed as well, the ways of these great leaders cannot be overlooked. What made them great might still be applicable in today’s day and age. Here is a look at some of the greatest leaders of all time and what made them great.

Mahatma Gandhi

Mohandas Karamchand Gandhi, better known as Mahatma Gandhi, was born an ordinary boy with a determination to excel at what he did. After completing law from London, he became the most important part of the Indian freedom struggle against the colonial rule.  His policy of non-violence and protest through civil disobedience eventually succeeded when he led his country to freedom in 1947. His main characteristics were resilience, knowledge, people-skills, motivational approach and leading by example.

George Washington

George Washington, known as the founding father of the United States of America, was the leader of the American Revolution and the first president of US. He was a true visionary whose vision has endured for more than 200 years. What made Washington great was his foresight, vision, strategic planning and his ability to lead people to success.

Abraham Lincoln

The 16^th president of the United States is also one of the most well known leaders of all time. He was in office during the American Civil War where he kept the people together and is the only reason that the nation did not break into smaller parts. He also ended slavery in the US by signing the Emancipation Proclamation. His greatest traits were his determination, persistence, beliefs and courage.

Adolf Hitler

Although despised through the world, Adolf Hitler was one of the greatest leaders of all time. After becoming the chancellor of Germany in 1933, he was responsible for one of the greatest economic and military expansions the world has ever seen. He successfully invaded more than 10 countries with his brilliant strategy and meticulous planning. His oratory skills, propaganda and planning made him a leader par excellence.

Muhammad

One of the greatest leaders of all time, Muhammad led to the spread of Islam in and around Arabia. His contribution to Islam was such that it has become the second largest and the fastest growing religion of the world today. He united a chaotic society in the name of morality and humanity and led his people out of severe persecution and mistreatment. He led his people to a number of migrations and successful victories in wars against armies much larger than theirs. His greatest leadership qualities were his courage, leading by example, motivational approach, persistence and decision-making.

Mao Zedong

Mao was the leader of the Chinese Revolution and the founding father of the People’s Republic of China. He successfully endured and repelled the invasion by Japan during the World War II and subsequently transformed the economy of China into one of the major industrialized economies of the world. Because of him, China is a world power and a potent rival to the dominant United States of America.

Nelson Mandela

Nelson Mandela was the first South African president elected in fully democratic elections. Mandela was also the main player in the anti-apartheid movements in the country and served a lengthy prison sentence because of the same. This did not stop Mandela and in fact motivated him to devote his life to uniting his country and he successfully managed to do so after his release from an almost 30 year prison sentence. His main characteristics were his determination, persistence, focus and will.

Julius Caesar

Easily one of the greatest military leaders of all time, Caesar was also one of the best political leaders the world has ever seen. He led several campaigns with numerous victories and was single handedly responsible for the expansion of the Roman Empire. He was also responsible for reforming the Roman government and thus laying the foundation to a great empire. His greatest traits were his decisiveness, boldness, eagerness, motivation, opportunism and strategic planning.

Fidel Castro

Castro was the leader of the Cuban Revolution and later went to become the Prime Minister of Cuba. He also became the President of Cuba from 1976 to 2008. He endured many crisis, invasions and assassination attempts and took them in the stride. His vision for Cuba still stands and he has proved to be an effective leader and commander. His traits of courage, strategy, hiring the right people and dissemination of duties made him the leader he was.

Winston Churchill

Prime Minister of Britain from 1940 to 1945, Churchill led Great Britain against the Nazi Germany during the World War II. He teamed up with allies and consequently led to the defeat and downfall of Hitler. His tenure as the British Prime Minister was in a time of fear and destruction caused by Hitler and his allies. Churchill was known for his fearlessness, determination, unyielding perseverance and undying devotion to his goal.

Luxurious brands

Branding is what matters more in luxury than in any other sector. People shell out thousands of dollars for a handbag partly for the material costs, partly for the beautiful design, but primarily for the brand name. People buy fake handbags that bear the designer name. Why is it so? It’s primarily because brand name matters the most.

Luxury and abundance go hand in hand but when it comes to brands so does quality and respect. There are quite a lot of brands which are respected in the world because of the quality, workmanship and the designer behind them. The main reason people purchase any of these brands is simply pleasure and luxury. And well, there is nothing wrong with enjoying a little luxury, isn’t it?

The list of brands below is purely a reflection of the possessions for the elitist consumers who are at the pinnacle of richness and affluence. These personalized luxury brands not only add glamor to one’s lifestyle, but also carry with them a class and panache, which is admired, appreciated and in some cases envied by others.

Gucci

The fashion icon, Gucci, was founded by Italian designer Guccio Gucci in 1921 and is probably one of the most valuable & luxurious brands in the world. Gucci sells its products in over 400 stores worldwide as well as on the Internet. Gucci’s energy has decreased a bit this year, but a 2% dip isn’t very significant. They were one of the first brands to enter the online arena and they’ve led the way for other brands. And the designer, Frida Giannini, is hitting her stride from a design perspective. If this season’s Gucci cover presence is any indication, then the brand should definitely stay strong over the next few years. Gucci has a bunch of men’s wear, women’s wear product lines including handbags, watches, shoes, fragrance, jewelry, sunglasses, belts, wallets, scarves, ties.

Chanel

Chanel, the French fashion house was founded by Coco Chanel in 1925 and has been the epitome of haute couture and luxury brands ever since. Coco was the catalyst for revolutionizing women’s clothing and fragrance. Karl Lagerfeld is the current lead designer with Chanel. After an 11% decrease in value last year, Chanel came roaring back. While they were one of the last online hold-outs, when Chanel did take it digital they set the bar high for luxury brands in the future. They are very careful about how they sell, and have managed to keep the exclusivity of the brand intact while having a strong digital platform.  Chanel’s current product lines include men’s clothing, women’s clothing, fragrance, shoes, belts, hats, handbags, jewelry, eyewear, and watches.

Louis Vuitton

Louis Vuitton is one of the most forged and counterfeited brands in the world, but its products, especially handbags and suitcases, are unparalleled in the luxury market. Among the historical celebrities the only way left for Louis Vuitton suitcases are included by Pierre Savorgnan of American conductor Leopold Stokowski and Brazza. Louis Vuitton, the French luxury brand was started in 1854 making it one of the oldest fashion houses in the world. It will be celebrating 158 years. Initially their focus was handmade luggage but expanded into the purses women would kill for today. One of the reasons of it huge popularity is its dedicated celebrity endorsements.

Christian Dior

The legendary fashion designer, Christian Dior, entered the fashion vista in 1947. In the early 1950s Dior revolutionized the world of fashion by introducing “ready-to-wear” in his Dior Boutique, bringing high fashion to the world at large. Dior infused a fresh spirit into women’s fashion with his very first Paris collection called “New Look”, which was immediately picked up in New York. It was Dior’s genius that managed to establish Paris as the culture capital of the world. Currently, Dior operates 60 boutiques worldwide, 15 of them in Japan. Ready-to–wear collections are sold exclusively in the Dior boutiques. Dior handbags are the very essence of beauty & style. Over the years, the Dior brand has been modernized, and the success of its collections has also rides on rectangular frame fronts in flat metal and combination frames.

Prada

Prada is an Italian fashion label specializing in luxury goods for men and women ready-to-wear, leather accessories, shoes, luggage and hats, founded by Mario Prada. Prada, the Italian fashion house was created by the Prada brothers in 1938. Although founded by Mario and Martino Prada in 1938, it wasn’t until their granddaughter Miuccia took over the family business in the 1970s that Prada became the true luxury brand it is today. She helped the company evolve from a leather goods to what it is today one of the most recognized brands in fashion and Hollywood. The line-up includes clothing, accessories, footwear, and fragrance and of course the most coveted handbags! Prada’s originality made it one of the most influential fashion houses and the brand became a premium status symbol in the 1990s.

Coinstar Inc.

Coinstar Inc. heaved its first quarter forecast, stating cost efficiencies in obtaining content and higher demand for its movie rental kiosks and lower card-processing fees for Redbox. The after-hours trading saw a rush of shares for Coinstar. The stock went up 14 percent at $70.01, which trumps the previous all-time high it hit in November 2010.

Coinstar believes that it was doing well while making its ‘workaround’ more efficient, contributing more to less than expected operating expenses. Redbox started its ‘workaround’ early in 2012 to obtain Warner Bros. content after the Time Warner Inc. Studio insisted on doubling its delay to deliver DVDs to 56 days as part of a direct-supply arrangement.

Coinstar has increased efficiencies in that workaround process

Coinstar continues to benefit from ‘better than expected consumer acceptance’ of an increase in its Redbox price. The company raised one-day DVD rentals to $1.20 a day from $1 in October, its first price increase in eight years. Though the company experienced a demand drop-off when it tested the increase in trial markets, executives have said previously that when it officially instituted the higher prices in the fourth quarter, demand wasn’t nearly as challenged.

Coinstar profits also benefited from lower-than-expected card processing fees for Redbox, partly thanks to an early roll-out of the single-billing program in March. The program, designed to address increased debit-card interchange fees because of the Durbin Amendment, modified Redbox billing so that the kiosks charge a customer one time upon rentals’ return rather than several times, thus reducing the fees Coinstar must pay.

First-quarter earnings expected to be $1.36 to $1.4 for Coinstar

Coinstar also accepted additional expense savings from constructive timing because several programs and new hires moved to later in 2012. Coinstar said it expects first-quarter core earnings of $1.36 to $1.40 a share on revenue of $567 million to $569.2 million. In February, the company forecast income of 76 cents to 91 cents a share on revenue of $530 million to $555 million.

Due to the rise of first-quarter guidance, additional benefit from price increase and extension of its Universal content license in March, Coinstar also raised its full-year forecast. The company is now expecting earnings of $4.40 to $4.80 a share and revenue of $2.16 billion to $2.28 billion. It previously forecast core earnings of $3.80 to $4.30 a share on revenue of $2.08 billion to $2.25 billion.

Most of the revenue of Coinstar is derived from its Redbox DVD kiosks, while it continues to operate its namesake coin-counting machines. Its DVD-rental business has quickly expanded over the past few years, though questions have emerged about its long-term growth prospects. In part to address those worries, Coinstar has partnered with Verizon Communications Inc. to launch an online streaming video entertainment service. But so far, the companies have offered few specifics about the joint venture.

BrightSource Energy_Solar Thermal Power

BrightSource Energy Inc., a California solar-power developer, plans to go public, in spite of an unenthusiastic market for solar companies and an uncertain outlook for renewable-energy firms. A 392-megawatt solar-thermal power plant is being built by BrightSource in the California desert and BrightSource also plans to build several similar facilities in the U.S. Southwest. BrightSource has plans to offer 6.9 million shares at $21 to $23 apiece, in hopes of raising as much as $182.5 million, according to a regulatory filing in March.

The shares would be listed on the Nasdaq Stock Market under the BRSE, with pricing scheduled for Wednesday after the markets close. It is only after that that BrightSource Energy after which trading would start Thursday. BrightSource Energy has promises from backers to build a solar electric generating system in the Mojave Desert.

BrightSource Energy uses fields of mirrors to concentrate sunlight onto a central boiler

The Solar-thermal technology of BrightSource Energy uses fields of mirrors, called heliostats, to concentrate sunlight onto a central boiler that produces steam, unlike the solar panels that use a semiconductor material to convert sunlight into electricity. The steam is then used to make power turbines generate electricity and also can be used for other industrial applications, such as enhanced oil recovery.

A few IPO market watchers say that the debut of BrightSource Energy could suffer from a lack of investor interest as the stocks of solar-power company hits fresh lows in midst of uncertainty about U.S. renewable-energy policy. The Solyndra controversy still remains fresh in some people’s minds. Meanwhile, companies that make solar panels used in power generation have been hurt by lower panel prices. That has effected in negative feeling extending to all manner of solar companies, including power firms. Many of the power firms actually have been benefited from cheaper panels.

The Solyndra bankruptcy raised concerns about the viability of renewable-energy companies

BrightSource Energy has also been a federal-loan recipient, accepting about $868 million so far. $528 million was received by a solar energy firm Solyndra LLC, in U.S. government loans from the U.S. Energy Department before it filed for bankruptcy protection last September, raising questions over whether the department rushed to approve alternative-energy loans. The Solyndra bankruptcy also raised concerns about the viability of renewable-energy companies not yet operating at commercial scale, particularly in the solar market.

Scott Sweet, senior managing partner of IPO market-research firm IPO Boutique, “These types of companies are very much out of vogue. There is very little buzz about BrightSource Energy, which means very little demand, and one can certainly attribute that to its competitors and the market for those companies”.

BrightSource also generated revenue of $159.1 million in 2011, up from $13.5 million in 2010. It had booked net losses of $111 million and $71.6 million in each of those years, respectively. BrightSource has never been profitable, although the company has predicted that its 2,400-megawatt pipeline of solar projects could generate $4 billion of revenue when all the plants are built and sold.

Two BrightSource rivals, solar-thermal power developers Solar Millennium AG S2M.XE +10.00% and Stirling Energy Systems, filed for bankruptcy last year. Both companies went through the grueling process of obtaining construction permits to build large solar-power plants in California, and both had contracts with large utilities to sell the electricity.

Steve Jobs

It is suspected that Steve Jobs was a key player from Apple in the conspiracy of a price-fixing plan with five e-book publishers. Steve Jobs helped organize and arrange for a complex price-fixing plan that cost its consumers tens of millions of dollars in the last two years by enhancing the price of many new releases and bestsellers by $3 to $5 each. “The customer pays a little more, but that’s what you want anyway,” Jobs told the publishers at one point, according to Sharis Pozen, the acting head of the Justice Department’s antitrust division.

Steve Jobs held responsible for price fixing conspiracy

Apple even proudly described the maneuver, which gave the iPad maker a guaranteed 30% commission on each e-book sold through its online marketplace, as an aikido move. Sharis Pozen said Wednesday, “We allege that these executives knew full well what they were doing. That is, taking steps to make sure the prices consumers paid for e-books were higher”.

But, all five publishers strongly denied the allegations and challenged that e-book and e-reader sales had surged since the industry went to the iPad pricing model. Two suits by 16 state attorneys general were filed against Apple, Simon & Schuster, Hachette Book Group, HarperCollins Publishers, Macmillan and Penguin Group. Simon & Schuster, Hachette group and HarperCollins agreed to settle the issue with the Justice Department. This settlement would require them to allow retailers such as Amazon and Barnes & Noble to reduce the prices of e-books they sell from the publishers. If the settlement is approved by a federal judge, it will restore competition to the e-book market.

Hachette and HarperCollins also agreed to settle the states’ charges and pay a total of about $51 million in compensation to e-book customers nationwide. The states are still negotiating on the compensation that Simon & Schuster needs to pay. This will definitely boost the amount of money available for refunds to consumers.

The publishers agree to settle the case

E-book sales for instance climbed 117% in 2011, generating revenue of $969.9 million at the companies that report sales to the Assn. of American Publishers. Connecticut Atty. Gen. George Jepsen, who helped lead the state effort, estimated the price fixing by all the publishers cost consumers more than $100 million.

Apple, Macmillan and Penguin did not agree to a settlement. The Justice Department has promised that it would pursue the case against the five companies vigorously in an attempt to keep the emerging e-book market open and competitive.

Because of the settlement, the book publishers will have to renegotiate their contracts with e-reader makers including Apple, Amazon and Barnes & Noble, and that is expected to bring down prices for the next two years.

Macmillan Chief Executive John Sargent denied the allegations in an open letter posted on the website of the publisher’s imprints. John Sargent  said, “Macmillan did not collude”. Penguin Group Chief Executive John Makinson said the company’s pricing decisions were made independently and “we have done nothing wrong.”

But with two publishers refusing to settle and other publishers not involved in the suits, prices in the e-book industry could vary widely, industry experts said.

Sands launches Macau casino_Cotai Central

Las Vegas Sands Chairman and CEO Sheldon Adelson, the U.S. billionaire, launched its long-delayed fourth resort, Cotai Central on Wednesday. It is a $4.4 billion complex that is its latest bet on continued strong growth in the world’s biggest gambling market.

The executives of Sands China Ltd. inaugurated the Sands Cotai Central opening the doors to a traditional Chinese dragon dance, high-wire tightrope performance and the unveiling of a 5,500 pound bronze and gold ‘God of Fortune’ statue. Completion and launch of the massive Macau casino operator was delayed several years by the global financial crisis and worker shortages.

Security guards said, “People started lining up to get in Sands Cotai Central about five hours before the grand opening, and the queue snaked around the side of the building by the time the doors opened”. The resort will open in stages. The first phase has 340 gaming tables and 40 VIP rooms for high-rollers. Another 200 tables will be added later this year. Paintings of snowcapped peaks on the casino floor and fake boulders in the shopping mall are aimed at evoking a Himalayan mountain theme.

There are no more new casinos are expected to open until at least 2015. This is because of the time needed for government approval and construction. Sheldon Adelson said, Sands has already planed its next project – a 3,600-room resort on a nearby plot for which it is currently seeking planning approval. Cotai Central is the 35th casino to open in Macau, the only place in China where casino gambling is legal. Macau’s gambling revenues rose 27 percent in the first three months of 2012, after rocketing 42 percent last year to $33.5 billion, more than five times the amount earned by Las Vegas Strip casinos. Growth has been powered by hordes of wealthy high-rolling gamblers from mainland China, who are estimated to account for more than two-thirds of total gambling revenue.

Adelson said, “We hope to move some dirt around, do some compacting of the earth, and put in pilings by the end of this year,” with construction taking 24 to 30 months”.

Sands’ rivals in Macau, including Wynn Resorts Ltd. and MGM Resorts International, are also waiting for government approval for projects they’re planning for the Cotai Strip, inspired by the famed Las Vegas Strip. Cotai is an area of reclaimed swampland named for the two islands it connects, Coloane and Taipa. Adelson said the new casino sits on a site originally intended for a fireworks factory. Across the street are two other Sands properties, the Venetian Macao and Plaza Macao.

The new resort’s Holiday Inn, Sheraton and Conrad hotels will have a total of 5,800 rooms when they are fully open by next year. A fourth hotel tower is in the planning stages that will cost $500 million to $600 million, bringing total cost to $5 billion, Adelson said at a press conference ahead of the launch.

Michael Paladino, an analyst at Fitch Ratings said, “The Cotai Central opening will fuel increased market share for Sands because it will be the last major opening in Macau for the next couple of years”. Sands is expected to benefit from growing numbers of middle-class visitors drawn to shopping and other non-gambling attractions at Cotai’s resorts. Construction on the Cotai Central project began five years ago but was frozen temporarily in late 2008 after financing dried up in the wake of the financial crisis. Government restrictions on foreign workers also delayed the opening date by three years.

Boeing’s deal with Embraer gives it an edge over Airbus.

Boeing, the Chicago based airplane manufacturer, delivered 137 aircrafts by the end of this first quarter, with an increase of 32% in production from last year. In comparison to 2011, Airbus augmented their production by 12 planes, while Boeing manufactured 33 aircrafts more. It is the first time in 9 years that Boeing has surpassed Airbus, their European competition, in a very substantial way.

The American manufacturer delivered 99 Renton-Built 737’s, five 787’s, seven 767’s and twenty 777’s. With these results, predictions for a very good year for Boeing have already started. Based on these results analysts expect Boeing to lead in production and delivery.

In terms of placed orders, the company is ahead of Airbus with over a 1000 orders of the fuel efficient 737 model. In addition to this, Boeing’s new model the 737 MAX scored a $19 billion dollar order with Southwest Airlines.

Airbus’s projection for deliveries comes up to 570 aircrafts, while Boeing’s projections show 585-600 aircrafts.

Environmentally friendly aircrafts

The production of the Boeing 737 and Airbus 320, both fuel efficient airplanes, increased considerably. Desires from airlines to cut prices on oil consumption and environmental factors have played an important role on the demand for these planes.

The models have a lesser negative impact on the environment. This year, Boeing delivered six 747-8 stretched jumbos and five 787 Dreamliners.

Boeing’s 787 Dreamliner, made from composite material, is a mid-size plane with the capability to cover long routes. In addition to this, the 747 model, another less fuel-consuming offer from Boeing was also on a very high demand. Airbus competition for the Dreamliner and the 747, the A350 is currently being manufactured in Airbus’s Toulouse factory, and is expected to be released in mid 2014.

Demands from Asian and Middle-eastern airlines to acquire these airplanes, and the possibility of new routes are also factor that determined the production.

Last year the Asia-Pacific market was the strong point for both manufacturers. Both manufacturing giants and extreme competitors are looking to make these types of airplanes into their premium offer for airlines.

Infact, Both carriers did really well with the deliveries of medium-sized jets, with Boeing’s 737 Next Generation and Airbus’ A320 selling strongly during this quarter and look forward to continue through the year.

Apparently Boeing raced ahead with the 747 and 787, its latest fuel-efficient models that have been in high demand by carriers that are looking to cut their dependency on fuel. Boeing has been recently focusing on producing aircrafts that are sleek and modern and are highly fuel efficient. This move is going to completely revamp Boeing’s portfolio.

Boeing ties up with Embraer

Recently, the president of Boeing Jim Allbaugh signed an agreement with Frederico Curado of Embraer after the annual meeting of a public-private partnership group that ties the two countries together.  “The agreement establishes an important relationship between two of the world’s largest aerospace companies to cooperate in ways that enhance operational efficiency, safety and productivity, improve customer satisfaction and create value for both companies and their customers,” Boeing said in a statement. This deal clearly would increase the competitive pressure on Airbus.

Venture Capital fundraising down 35 percent

A 35 percent drop in the U.S. venture-capital fundraising was experienced in the first quarter of 2012. Industry experts believe that the investors might just be taking a break before they begin undertaking more funds in earnest.

42 separate funds raised a $4.9 billion total pot at the end of the quarter, including ones from Bain Capital Ventures and Canaan Partners. This is 9 percent fewer participating funds than the same quarter a year earlier, which raised $7.6 billion.

National Venture Capital Assn. and Thomson Reuters’ new data shows five funds that have raised 75 percent of the cash, with Menlo Park-based Andreessen Horowitz laying claim to $1.5 billion. But the attitude isn’t too gloomy. The $4.9 billion which was raised is still the third highest amount raised ever since the end of the recession.

NVCA’s President, Mark Heesen said in a statement, “While the first quarter fundraising numbers represent a slower start than last year, venture firms appear to be more optimistic about the fundraising environment in 2012, especially those who have benefitted from the improving exit environment of late, which has also been encouraging to our investors”. Mark Heesen believes that more venture-backed companies like Facebook are going public and more funds are expected to start raising money this year. This means, many venture firms are either now officially in the market to raise a fund or will enter in 2012. These firms will face a do or die situation, and the collective outcome of their fundraising efforts will lay the groundwork for the amount of venture capital available for investment in entrepreneurial companies the next decade.

Last week, NVCA found out that California is a runaway leader in landing venture capital investment. Venture firms appear to be more optimistic about the fundraising environment. Even as venture firms downshift their investment pace from a year earlier, they’re benefiting from the best stretch of Internet initial public offerings in more than a decade.

Companies like LinkedIn Corp., Groupon Inc., Zynga Inc. went public at multibillion dollar valuations last year, followed by Yelp Inc. this year, which is worth $1.4 billion. Facebook Inc. may sell shares next month at a valuation of as much as $100 billion.

Menlo Park, California’s Andreessen Horowitz also raised the biggest single fund in the quarter, bringing in $1.5 billion from its limited partners. Canaan Partners and Bain Capital Ventures each raised $600 million in the period, while the biggest new firm to raise capital was Fraser McCombs Ventures, attracting $16.9 million.

Donald Layton

E-Trade Financial Corp’s  former chief executive, Donald Layton, has come out as the front-runner for the top job at Freddie Mac, which is a government-controlled mortgage-finance giant.

According to those who know about the matter, Donald Layton met with Freddie’s federal regulator last month and is one of three finalists being considered for the job. The regulator met two weeks ago with a second candidate, Shekar Narasimhan, who runs a housing-finance advisory firm. A final decision or job offer has not been made yet. But a decision will be taken as soon as in the next week.

Donald Layton met with Freddie’s federal regulator

The Freddie’s federal regulator likely will have a final say on any candidate selected by the company’s board. Finalists will also have to meet with top level officials from the U.S. Treasury and the Department of Housing and Urban Development.

The 61 year old Layton isn’t a stranger to the troubled enterprises. Donald Layton is on the AIG board, as is Christopher Lynch, who became chairman of Freddie Mac in December. If Donald Layton is offered the post, he would become the third person selected by the U.S. government to run the company since 2008. The current CEO, Charles E. Haldeman Jr., joined Freddie in 2009 and last fall planned to leave at some point this year. David Moffett, Treasury’s initial pick to run the company, quit after six months, frustrated by having government officials call the shots.

Fannie Mae has shortlisted candidates

Fannie Mae, which also is in the market for a new chief executive, has shortlisted candidates but is behind Freddie in its search, which began weeks later than Freddie’s. A company spokesperson said that Fannie’s board has been encouraged by the response from qualified and interested candidates.

Both firms’ search efforts have faced challenges on a number of fronts. The federal regulator said last month it would cap annual pay for the incoming CEOs at about $500,000, down from the $6 million package, including deferred and incentive pay, that the current top executives are eligible to receive.

In 2007, the year before the companies were taken over, Freddie Mac CEO Richard Syron was paid $10.5 million while Fannie Mae CEO Daniel Mudd received pay worth $12.2 million. Those packages included deferred pay that declined sharply when the companies’ stock became almost worthless following the government takeovers.

The new CEOs of Fannie and Freddie will manage companies with uncertain futures

In addition to receiving limited pay, the new CEOs of Fannie and Freddie will manage companies with uncertain futures as Congress and the White House try to determine their fate. The companies have become political lightning rods. Lawmakers and a federal watchdog have criticized major and minor business decisions as the firms navigate competing mandates to stem losses and help housing markets.

Mr. Haldeman took the helm of Freddie following a turbulent period at the company, which included both its government takeover and the suicide of its acting chief financial officer. Mr. Haldeman made employee morale a priority and was well liked by the rank-and-file. Earlier this year, he turned down bonus pay worth $2 million.