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  • Innovate or perish | Business Spectator
    on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password As economic uncertainty continues to ripple across the globe it is clear that no nation can expect to escape the impact of unstable capital markets tight capital and slower consumer and corporate spending Australia is no exception Subject to the same kind of volatility that has rocked stock markets around the world the Australian Securities Exchange 200 index has lost 40 per cent of its value since October of last year Enterprise investment and consumer spending continue to weaken No one can predict what impact the current economic situation will have But no matter what happens during the coming months I remain optimistic about long term prospects in Australia and across the globe The trends that have made the last decade so dynamic for businesses around the world haven t changed Technology is still improving Productivity continues to rise The shift to a global knowledge based economy is still underway New business opportunities continue to emerge And I continue to believe that the key to unlocking these opportunities is investment in innovation Even in uncertain economic times investing in new ideas is essential to creating sustainable growth But what does it mean to invest in innovation Fundamentally innovation is about transforming new ideas into products and services that drive profit This process is built on the experience and insight of people This means the foundation for innovation is investment in people investment that expands access to the educational opportunities and information technology tools that unlock the power of innovation Australia is a great place to see the impact that these investments can have Australia which is ranked tenth in the world in maths and science achievement among eighth graders has produce a generation of young people with the skills and knowledge needed to advance innovation Meanwhile the percentage of households with broadband access nearly tripled between 2005 and 2007 and the percentage of homes with computers has climbed past 70 per cent Trends like these provide the foundation for an innovation based economy According to the Economic Intelligence Unit Australia ranks fourth in the world in e readiness a measure of the nations ability to use information technology for economic and social benefit And while Australia ranks 52 in population its IT market is the twelfth largest in the world This emphasis on innovation and information technology is one of the reasons that entrepreneurship and small businesses which are the basis for sustainable economic growth and opportunity are flourishing Today there are nearly 2 million small businesses in Australia a jump of more than 37 per cent in the last five years There is a danger of course that as the global economy slows companies will shift their focus to controlling

    Original URL path: http://www.businessspectator.com.au/article/2013/2/22/media-and-digital/innovate-or-perish (2014-01-13)
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  • Steve Ballmer | Business Spectator
    disappointment a clean set of financial numbers is needed to restore confidence Politics Australian Election Federal Budget International News Asia Europe USA National Affairs Latest stories Gagging visas are an attack on democracy The skyrocketing price of a journalist visa for Nauru will limit coverage of Australian prisoners on a vassal state It is an insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories REVIEW Nokia Lumia 1520 The Nokia 1520 sports a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Steve Ballmer Innovate or perish There is a danger that as the global economy slows companies and governments will cut back on education research and innovation a false economy argues Microsoft CEO Steve Ballmer by Steve Ballmer 4 51pm February 22 Search Markets Global Indices Index Last Chg Chg DOW JONES 16437 05 7 7 S P 500 1842 37 4 2 0 2 NASDAQ 4174 66 18 5 0 4 FTSE 100 6739 94 48 6 0 7 NIKKEI 15912 06 31 7 0 2 Hang Seng 22846 25 58 9 0 3 The Spectators REVIEW Nokia Lumia 1520 Krishan Sharma 7 min ago The Nokia 1520 sports a number

    Original URL path: http://www.businessspectator.com.au/contributor/steve-ballmer (2014-01-13)
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  • Chipping away at charity | Business Spectator
    access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password In last year s federal budget the Treasurer announced that the government would legislate guidelines to improve the integrity of Prescribed Private Funds PPF and provide trustees of PPF s with greater certainty as to their philanthropic obligations This commitment would among other things ensure regular valuation of assets at market rates and increase the size of compulsory distributions The Commissioner of Taxation would also be given greater powers In December the Treasury issued a discussion paper Integrity of PPFs Within the paper there were numerous issues raised and several proposals are regarded by the philanthropic sector as positive However there was one highly contentious proposal to raise the minimum annual distribution rate to 15 per cent of assets currently 5 per cent of each gift up to the target capital limit Effectively the government appears to believe that because most PPFs are set up by top marginal taxpayers and have hence received a 45 per cent tax benefit they should give away all the PPF assets during their lifetime Many donors e g Warren Buffett and Bill Gates have determined that this is entirely appropriate as they wish to be around to see the impact of their charity However there are other donors who may wish to create perpetual foundations that will deliver significant benefit to the community for generations and creating an everlasting philanthropic culture in their family Unfortunately the government s timing for such a proposal could not have been worse If this had been proposed during the midst of the longest economic boom in Australian history and a recent bull market in equities the philanthropic sector may not have reacted so strongly Why because in the ten years leading up to June 2007 Growth appropriate for a perpetual foundation investment portfolios delivered an annual return of more than 10 per cent most of which was capital growth Consequently paying out 15 per cent of the assets each year would not have rapidly diminished the capital of the PPF So let s assume I sold a business and established a PPF in June 2007 with 5 million and in the following financial year paid out 15 per cent or 750 000 As I have children and wanted to use this PPF to build a philanthropic culture in my family with the desire that they have an involvement during their lifetime and become donors in their own right we have a growth orientated portfolio with high level of equity exposure By June 2008 my portfolio has fallen 20 per cent in capital terms and I ve paid out all the income It s now down to 3 25 million so the following year I pay out 487 500 By January 2009 my portfolio down another 10 per

    Original URL path: http://www.businessspectator.com.au/article/2013/2/22/education/chipping-away-charity (2014-01-13)
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  • Fiona Archer | Business Spectator
    numbers is needed to restore confidence Politics Australian Election Federal Budget International News Asia Europe USA National Affairs Latest stories Gagging visas are an attack on democracy The skyrocketing price of a journalist visa for Nauru will limit coverage of Australian prisoners on a vassal state It is an insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories REVIEW Nokia Lumia 1520 The Nokia 1520 sports a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Fiona Archer Chipping away at charity Government plans to raise minimum yearly distributions of charitable trusts to no less than 15 per cent of assets may backfire as returns revert to the mean slashing the shelf life of many funds to just a few years by Fiona Archer 4 36pm February 22 Search Markets Global Indices Index Last Chg Chg DOW JONES 16437 05 7 7 S P 500 1842 37 4 2 0 2 NASDAQ 4174 66 18 5 0 4 FTSE 100 6739 94 48 6 0 7 NIKKEI 15912 06 31 7 0 2 Hang Seng 22846 25 58 9 0 3 The Spectators REVIEW Nokia Lumia 1520 Krishan Sharma 8 min ago The

    Original URL path: http://www.businessspectator.com.au/contributor/fiona-archer (2014-01-13)
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  • RICH PICKINGS: Are you being served? | Business Spectator
    Mr Belvedere are out Alice from the Brady Bunch is in Of course household staff are just one part of a wealthy entrepreneur s support team Here are some of the other crucial staff and advisors that many rich people rely on Spouse or partner Without doubt the most important part of any support team In many cases a spouse or partner will often work in the business during the start up phase later taking a more behind the scenes role as the company expands or running a different part of the family empire Some of Australia s best known husband and wife entrepreneurial teams include Bill and Imelda Roche cosmetics and property development Charlotte and Ervin Vidor hotels including the Medina brand and Diana and Rino Grollo property development Executive assistant A key part of any entrepreneur s team in charge of regulating access to the boss keeping the diary dealing with the media ensuring appointments are kept booking travel remembering birthdays and anniversaries and generally making life easier A good EA will often work with an entrepreneur for decades Gerry Harvey and James Packer are two wealthy business people with long serving assistants and can earn salaries above 100 000 Household staff Not as common in Australia as in the United States and Europe where many wealthy entrepreneurs will keep a household staff some living in the home full time others coming and going like normal employees Common roles include the household manager basically the head of the household staff administrative household manager charged with overseeing the running of the household managing staff procurement scheduling laundry specialist housekeeper chef and of course nanny Entrepreneurs with multiple properties or large properties will often employ caretakers or gardeners to ensure grounds are maintained Salaries range from around US50 000 to US80 000 although this can include living expenses Personal trainer Healthy body wealthy wallet many top executives employ personal trainers to keep fit and sharp Top personal trainers in Australia charge as much as 100 an hour for wealthy clients while top personal trainers in the US can charge even more Tracy Anderson the current flavour of the month trainer who works for Madonna and Gwyneth Paltrow charges US900 a month for access to her studios plus a US1500 initiation fee Accountant Lawyer Depending on the size and complexity of their empires wealthy entrepreneurs may keep accountants and lawyers on their payroll permanently although expertise in certain areas such as tax will be brought in as the need arises Some professional services firms specialise in working with high net worth individuals such as Melbourne based firm Arnold Bloch Leibler which claims on its website to represent a large number of the members of BRW s Rich 200 list Private banker Australia s private banking sector is nowhere near as large as it is in Europe or the United States although most big banks and investment banks have a division dedicated to high net worth individuals The private banker can perform

    Original URL path: http://www.businessspectator.com.au/article/2013/2/22/commodities/rich-pickings-are-you-being-served (2014-01-13)
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  • James Thomson | Business Spectator
    has always been a public record of which Australians have made their fortunes This year it will also become a record of those who lost it by James Thomson 6 04pm February 22 RICH PICKINGS Boys from the bush Move over wealthy miners farmers are staging a come back on this year s BRW Rich 200 list by James Thomson 6 01pm February 22 RICH PICKINGS It s a gas As the interest around coal seam gas reaches fever pitch a new breed of multi millionaires has emerged But their fortunes may prove to be as volatile as the underlying resource by James Thomson 5 59pm February 22 RICH PICKINGS World s richest A new report on high net worth individuals around the world confirms what F Scott Fitzgerald knew the rich really are different by James Thomson 5 52pm February 22 RICH PICKINGS Bad news The titans of Australian media have been hit hard by a weakening share market But while some had the foresight to get out before the current rout others are using the opportunity to top up their holdings by James Thomson 5 49pm February 22 RICH PICKINGS Billionaire losses Australia s wealthiest investors including Gerry Harvey James Packer and Richard Pratt have recently seen billions of dollars stripped from their portfolios by James Thomson 5 47pm February 22 RICH PICKINGS Can t buy me love When it comes to the things that keep the super rich up at night divorce is right at the top of the list And as both Paul McCartney and Greg Norman can attest it can be a very high priced affair by James Thomson 5 44pm February 22 RICH PICKINGS Tax scrap For the wealthy a tax scandal can cause serious reputational damage But your attitude toward tax is often informed by your attitude toward business which is why the rich square off against the ATO so often by James Thomson 5 42pm February 22 RICH PICKINGS Designer profits Sagging equity markets haven t had an impact on the bottom line at the world s biggest luxury goods companies with LVMH Hermès and Richemont all recording a considerable uptick in sales by James Thomson 5 39pm February 22 RICH PICKINGS Home James A Point Piper street has emerged in a list of top residential addresses in the world at time when Australian house prices are under more pressure than ever before by James Thomson 5 36pm February 22 Page 1 Beautiful one day rich the next City Pacific s founder Phil Sullivan and MFS co founders Michael King and Phil Adams have become very wealthy thanks to Queensland s population and property booms by James Thomson 6 52pm February 22 RICH PICKINGS A gloomy start It s not just Eddy Groves who has had a poor start to the year Australia s wealthiest investors have had more than 5 5 billion slashed from the value of their portfolios in just two months by James Thomson 6 36pm February 22 WEEKEND

    Original URL path: http://www.businessspectator.com.au/contributor/james-thomson (2014-01-13)
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  • Cuts both ways | Business Spectator
    sorts of ways in the labour market and especially so in hiring for male dominated jobs Booth 2009 provides a recent survey of various studies that have been put forward to explain these differences An obvious question is therefore whether given a pro male bias in male dominated occupations this is symmetric across gender In other words will there be a pro female bias in female dominated occupations ceteris paribus A related rationale for our conjecture is that there may be gender stereotyping If certain jobs are perceived as more appropriate for women male applicants may be implicitly or explicitly evaluated less favourably because they do not fit society s prescriptions about what is appropriate for men In 2007 we applied for several thousand jobs in the three largest Australian cities Brisbane Melbourne and Sydney This was a relatively tight period for the labour market In selecting appropriate occupations we focused on female dominated jobs that did not require post school qualifications and had a relatively straightforward application process These occupations were waiting on tables data entry customer service and sales We created four sets of identical CVs some with women s names at the top and others with men s names and submitted them through a major job finding website In a companion paper Booth Leigh and Varganova 2009 we report hiring discrimination across different ethnic minority groups in Australia Extent of the pro female bias The responses indicated that the typical female applicant received a callback 32 per cent of the time while the typical male candidate received a callback 25 per cent of the time Consequently an average male candidate would have had to submit 28 per cent more applications in order to receive the same number of callbacks But these averages disguise the fact that the gender differences in callback rates varied depending on the occupation For table service and data entry jobs which across the Australian economy are 80 per cent and 85 per cent female held positions respectively the gap between women s and men s callback rates was very large The differences were smaller for customer service and sales positions which are 68 per cent and 69 per cent female held jobs and were statistically insignificant In summary we find a pro female bias in callbacks only in occupations in which the percentage of females is 80 per cent or more For less female dominated occupations we find no significant bias towards either sex This is in contrast to Riach and Rich 2006 What explains this pro female bias Just as males might prefer to be surrounded by men in jobs that have been traditionally male dominated so too might women in female dominated occupations The results from the field experiment confirmed our hypothesis that there is a pro female bias in female dominated occupations that increases with the proportion of women Indeed we can combine the results across four occupations in Booth and Leigh 2010 four occupations in Riach and Rich 2006

    Original URL path: http://www.businessspectator.com.au/article/2013/2/22/australian-news/cuts-both-ways (2014-01-13)
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  • Alison Booth | Business Spectator
    insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories REVIEW Nokia Lumia 1520 The Nokia 1520 sports a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Europe as politicians feel the pressure from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Alison Booth Cuts both ways Evidence from Australia suggests that discrimination towards male job applicants is just as likely to occur in female dominated industries by Alison Booth by Andrew Leigh Vox 2 43pm February 22 Gender risk and competition Women are under represented in high paying jobs and upper management Is that due to gender differences in risk aversion and facing competition An economic experiment suggests culture plays an important role by Alison Booth 4 54am September 19 2 comments Cuts both ways Evidence from Australia suggests that discrimination towards male job applicants is just as likely to occur in female dominated industries by Alison Booth by Andrew Leigh Vox 2 43pm February 22 Gender risk and competition Women are under represented in high paying jobs and upper management Is that due to gender differences in risk aversion and facing competition An economic experiment suggests culture plays an important role by Alison Booth 4 54am September 19 2 comments Search Markets Global Indices Index Last Chg Chg DOW JONES 16437 05 7 7 S

    Original URL path: http://www.businessspectator.com.au/contributor/alison-booth (2014-01-13)
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