There’s a ‘very good lesson’ from the coronavirus outbreak, says Singapore’s trade minister

The ongoing spread of a new coronavirus — which shut down major business hubs in China — serves as “a very good lesson” for companies and economies on the importance of diversifying their supply chains, said Singapore’s trade minister on Wednesday. But that status quo is now under threat, especially after much of China was shut down as authorities work to contain the virus outbreak. “Today, China is not just producing low-end, low-value products, they are also in the supply chains of many of the


The ongoing spread of a new coronavirus — which shut down major business hubs in China — serves as “a very good lesson” for companies and economies on the importance of diversifying their supply chains, said Singapore’s trade minister on Wednesday.
But that status quo is now under threat, especially after much of China was shut down as authorities work to contain the virus outbreak.
“Today, China is not just producing low-end, low-value products, they are also in the supply chains of many of the
There’s a ‘very good lesson’ from the coronavirus outbreak, says Singapore’s trade minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: yen nee lee
Keywords: news, cnbc, companies, coronavirus, china, good, supply, shut, lesson, products, outbreak, trade, singapores, chains, theres, minister


There's a 'very good lesson' from the coronavirus outbreak, says Singapore's trade minister

Medical workers help the first batch of patients infected with the novel coronavirus move into their isolation wards at Huoshenshan Hospital in Wuhan, central China’s Hubei Province, Feb. 4, 2020.

The ongoing spread of a new coronavirus — which shut down major business hubs in China — serves as “a very good lesson” for companies and economies on the importance of diversifying their supply chains, said Singapore’s trade minister on Wednesday.

Many countries around the world depend on China to buy their products, as well as to supply them materials and parts to make goods for exports. But that status quo is now under threat, especially after much of China was shut down as authorities work to contain the virus outbreak.

“Today, China is not just producing low-end, low-value products, they are also in the supply chains of many of the high-end products. And that means that the impact on the supply chains will be significant across the entire globe,” Chan Chun Sing, Singapore’s minister for trade and industry, told CNBC’s “Squawk Box Asia.”

“I think this is a very good lesson for everyone to really look at the supply chain resilience,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: yen nee lee
Keywords: news, cnbc, companies, coronavirus, china, good, supply, shut, lesson, products, outbreak, trade, singapores, chains, theres, minister


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‘Boeing has not learned its lesson.’ Downgrade warning, lawmaker criticism make for rough first day for new CEO

Boeing’s new CEO Dave Calhoun had a challenging first day running the company — a debt downgrade warning and outcries from lawmakers over his potential bonus. The decade-long Boeing board member took the reins on Monday, tasked with cleaning up the company’s image, internal culture, relationship with regulators and airlines, as well as Boeing’s finances after two fatal crashes of its best-selling plane, the Boeing 737 Max. “We believe that this bonus would be unconscionable in the face of two tr


Boeing’s new CEO Dave Calhoun had a challenging first day running the company — a debt downgrade warning and outcries from lawmakers over his potential bonus.
The decade-long Boeing board member took the reins on Monday, tasked with cleaning up the company’s image, internal culture, relationship with regulators and airlines, as well as Boeing’s finances after two fatal crashes of its best-selling plane, the Boeing 737 Max.
“We believe that this bonus would be unconscionable in the face of two tr
‘Boeing has not learned its lesson.’ Downgrade warning, lawmaker criticism make for rough first day for new CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: leslie josephs
Keywords: news, cnbc, companies, downgrade, regulators, max, day, boeings, warning, 737, learned, boeing, ceo, criticism, lawmaker, company, debt, planes, calhoun, lesson, rough


'Boeing has not learned its lesson.' Downgrade warning, lawmaker criticism make for rough first day for new CEO

Boeing’s new CEO Dave Calhoun had a challenging first day running the company — a debt downgrade warning and outcries from lawmakers over his potential bonus.

The decade-long Boeing board member took the reins on Monday, tasked with cleaning up the company’s image, internal culture, relationship with regulators and airlines, as well as Boeing’s finances after two fatal crashes of its best-selling plane, the Boeing 737 Max.

Calhoun, a veteran of General Electric aviation and Blackstone Group, will receive a $7 million bonus if he gets regulators to clear the Max to fly again, among other performance targets, the company said. That drew the ire of some lawmakers who have criticized the company for sacrificing safety to make airplanes a better sell — and rewarding executives for it.

“This payment represents a clear financial incentive for Mr. Calhoun to pressure regulators into ungrounding the 737 Max, as well as rush the investigations and reforms needed to guarantee public safety,” Democratic Sens. Edward Markey of Massachusetts, Richard Blumenthal of Connecticut and Tammy Baldwin of Wisconsin wrote to Boeing’s board on Monday. “We believe that this bonus would be unconscionable in the face of two tragic plane crashes and proof that Boeing has not learned its lesson.”

Boeing is scrambling to win regulatory approval of the planes but Calhoun has taken a more conciliatory approach with the Federal Aviation Administration after former CEO Dennis Muilenburg made overly optimistic statements about when the jets will be approved frayed the relationship between the two and contributed to Muilenburg’s firing last month.

The planes are Boeing’s best seller and the worldwide grounding, now in its 11th month, has cost airlines more than $1 billion in revenue and cost Boeing more than $7 billion.

Boeing defended Calhoun’s potential bonus, saying it “is based on the fact that the safe return to service of the 737 MAX is our top priority.” It will also take several years to fully vest, meaning he won’t be able to take it with him unless he stays at the company.

“This includes following the lead of our regulators and working with them to ensure they’re satisfied completely with the airplane and our work,” the company said in a statement. “The Board and CEO are in full agreement that the safe return to service of the 737 MAX must be done with full regulatory oversight.”

Hours after their statement, Moody’s Investor Services said it is putting Boeing’s debt on a 90-day review for a possible downgrade, less than a month after cutting its credit rating by one-notch as the crisis wears on longer than expected. The lower the credit rating, the more expensive it is for a company to raise money from investors in the debt market.

“Recent developments suggest a more costly and protracted recovery for Boeing to restore confidence with its various market constituents, and an ensuing period of heightened operational and financial risk, even if certification of the MAX comes relatively near-term, as expected,” wrote Jonathan Root, Moody’s lead Boeing analyst.

Moody’s also downgraded the debt of 737 Max supplier Spirit Aerosystems to junk territory, after the Wichita-based company that makes fuselages for the planes said it would cut at least 2,800 jobs.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: leslie josephs
Keywords: news, cnbc, companies, downgrade, regulators, max, day, boeings, warning, 737, learned, boeing, ceo, criticism, lawmaker, company, debt, planes, calhoun, lesson, rough


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Fender’s CEO learned this product lesson from Steve Jobs

Fender CEO Andy Mooney poses for a photo at the firm’s Hollywood office ribbon-cutting ceremony on September 22, 2016 in Hollywood, California. And it was during his time at Disney that he met iconic entrepreneur Steve Jobs. Jobs joined the entertainment giant’s board as a result of its acquisition of animation studio Pixar in 2006. According to Mooney, Jobs agreed with his perspective that “great brands are the accumulative effect of great products,” but there was a “but.” Online music ‘nothing


Fender CEO Andy Mooney poses for a photo at the firm’s Hollywood office ribbon-cutting ceremony on September 22, 2016 in Hollywood, California.
And it was during his time at Disney that he met iconic entrepreneur Steve Jobs.
Jobs joined the entertainment giant’s board as a result of its acquisition of animation studio Pixar in 2006.
According to Mooney, Jobs agreed with his perspective that “great brands are the accumulative effect of great products,” but there was a “but.”
Online music ‘nothing
Fender’s CEO learned this product lesson from Steve Jobs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: ryan browne
Keywords: news, cnbc, companies, ceo, jobs, metal, fender, guitar, iconic, lesson, fenders, mooney, music, learned, product, brand, bankruptcy, steve


Fender's CEO learned this product lesson from Steve Jobs

Fender CEO Andy Mooney poses for a photo at the firm’s Hollywood office ribbon-cutting ceremony on September 22, 2016 in Hollywood, California. Matt Winkelmeyer | Getty Images

LISBON, Portugal — Before Andy Mooney took the reins at guitar maker Fender, he was an executive at two other companies — Nike and Disney. And it was during his time at Disney that he met iconic entrepreneur Steve Jobs. Mooney says the Apple co-founder was “one of the first people” he met at Disney. Jobs joined the entertainment giant’s board as a result of its acquisition of animation studio Pixar in 2006. “He grilled me on our very first meeting about what my point of view on brands was,” Mooney told CNBC in an interview at the Web Summit technology conference. According to Mooney, Jobs agreed with his perspective that “great brands are the accumulative effect of great products,” but there was a “but.” Mooney recalls that Jobs told him: “Every single product that you make, that you put your brand on, is either a deposit or withdrawal from the bank of brand equity.” That is, the product has to speak to the success of a well-known brand by being an instantly recognizable part of the company’s lineup. Jobs, who died in 2011, was the face of Apple at a time when the company released some of its most iconic products, including the Macintosh family of computers and the iPhone.

“I’d say that every single guitar we’ve made over 70 years — and electric guitar amplifier — was pretty much a deposit in the bank of brand equity,” Mooney said — although he admitted the firm could “do more” in other categories like acoustic guitars and effects pedals.

‘I’m a heavy metal guy’

Fender has for decades been seen as one of the most iconic names in the guitar industry and — inevitably — rock music. Fender’s guitars have been used by everyone from rock pioneer Jimi Hendrix to Pink Floyd’s David Gilmour. When asked about what his favorite guitar was — whether from Fender or one of its rivals such as Gibson — Mooney began by stating: “I’m a heavy metal guy.” He admitted his current go-to guitar is the signature Telecaster used by Jim Root of U.S. metal outfit Slipknot, which Mooney said has a more “simplistic” setup in terms of electric components because “in his outfit, he sweats so much during every show that the guitar would short out and literally go quiet on stage.”

Jim Root of Slipknot performs on stage at Download Festival 2019 on June 15, 2019. Katja Ogrin | Redferns | Getty Images

But all has not been rosy in the guitar sector of late, with headlines around Gibson’s filing for bankruptcy protection last year adding to concerns the industry may be struggling due to changing musical tastes and technology. The firm has since appointed a new team of senior executives to help it return to financial health. Mooney, however, said Gibson’s bankruptcy was more of an isolated case. “Gibson’s bankruptcy had nothing to do with the guitar business,” he said. “The bankruptcy was brought about by ill-considered acquisitions in the consumer electronics space.” One notable acquisition was the firm’s $135 million deal to buy Philips’ audio unit in 2014. “The fretted instruments segment has been growing robustly for over a decade now,” Mooney claimed, adding 2019 “will be a record year for guitar sales worldwide.”

Online music ‘nothing but a positive’

The strategy for Fender more recently has been updating its product line to reflect a digital-native demographic. The company has been launching a handful of new apps, including one that lets people learn how to play and another for tuning guitars. Streaming services like Spotify and Apple Music have faced criticism from some musicians, who argue it’s squeezing artists’ income. But Mooney countered that school of thought, claiming the revenues from digital distribution have actually benefited music artists as well as record labels and publishers.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: ryan browne
Keywords: news, cnbc, companies, ceo, jobs, metal, fender, guitar, iconic, lesson, fenders, mooney, music, learned, product, brand, bankruptcy, steve


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Panthers linebacker Luke Kuechly on the financial lesson he learned as a teen working in his dad’s auto shop

After working extra long hours in a hot shop, Kuechly says he would often get his paycheck and think to himself, “Dang, that’s it?” “And you start to realize that stuff costs money, and then you start to assign value to money,” he explains. Kuechly adds that working his first job as a young teen ultimately helped him to assign more value to the things he had growing up. Bennett, who grew up as one of five children in Louisiana, says the budgeting lessons he learned as a young teen have stuck wit


After working extra long hours in a hot shop, Kuechly says he would often get his paycheck and think to himself, “Dang, that’s it?”
“And you start to realize that stuff costs money, and then you start to assign value to money,” he explains.
Kuechly adds that working his first job as a young teen ultimately helped him to assign more value to the things he had growing up.
Bennett, who grew up as one of five children in Louisiana, says the budgeting lessons he learned as a young teen have stuck wit
Panthers linebacker Luke Kuechly on the financial lesson he learned as a teen working in his dad’s auto shop Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-03  Authors: courtney connley
Keywords: news, cnbc, companies, linebacker, working, learned, worked, money, kuechly, shop, teen, panthers, end, luke, save, start, lesson, season, young, nfl, financial


Panthers linebacker Luke Kuechly on the financial lesson he learned as a teen working in his dad's auto shop

After working extra long hours in a hot shop, Kuechly says he would often get his paycheck and think to himself, “Dang, that’s it?”

“I worked in the warehouse, and I would pick up orders,” he says. “I would go to the computer screen, print off the order from a customer and then it would have where all the stuff was located in the warehouse. I’d go get a big gray cart, and you had to fill up these bins with all the parts. And it wasn’t air-conditioned in there.”

Though he’s made millions throughout his NFL career, the 28-year-old has not lost sight of what it means to properly manage his money. That lesson, he tells The Charlotte Observer , is all thanks to his first job in high school, when he worked at his dad’s auto shop in Ohio.

Luke Kuechly #59 of the Carolina Panthers before their game against the Los Angeles Rams at Bank of America Stadium on September 08, 2019 in Charlotte, North Carolina.

“And you start to realize that stuff costs money, and then you start to assign value to money,” he explains. “Like if my mom goes to the grocery store and she buys a gallon of milk and the gallon of milk costs this, then you start to run it back in your head, and you’re like, ‘Dang, that’s a half hour of work!'”

Kuechly adds that working his first job as a young teen ultimately helped him to assign more value to the things he had growing up. “Because once I was working, my Dad’s like, ‘You’ve got money now. You can go buy things if you want them. And then it starts to teach you: ‘Oh, do I really need it?’ You start to understand what 20 bucks really means.”

Besides Kuechly, several other professional athletes have held menial first jobs as a teen. In fact, on an episode of the “Kneading Dough” podcast, three-time Pro Bowler and NFL star Michael Bennett says he used to save his money as a young kid to help buy clothes for some of his siblings.

“I had different jobs, and I used to save my money to buy me and my brother’s school clothes,” he says. “I worked at a water park, a grocery store and most of the time I was a lifeguard. I was a lifeguard for four years.”

Bennett, who grew up as one of five children in Louisiana, says the budgeting lessons he learned as a young teen have stuck with him throughout his NFL career. Not only does he admit to being tight with his money, but he also says that he opts out of direct deposit so that he can receive all of his checks by hand and save them until the end of the season.

“I keep my checks until the end of the season to make sure I don’t spend any money,” he says. “And then at the end of the season, I deposit it.”

To survive, the football veteran says he lives off the money he budgeted and saved from previous years.

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Don’t miss: Why NFL star Michael Bennett skips direct deposit and keeps his checks ‘until the end of the season’


Company: cnbc, Activity: cnbc, Date: 2019-11-03  Authors: courtney connley
Keywords: news, cnbc, companies, linebacker, working, learned, worked, money, kuechly, shop, teen, panthers, end, luke, save, start, lesson, season, young, nfl, financial


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Co-founder of a multi-billion dollar company says a lesson from her dad was ‘the single biggest influence’ on her career

Self-made millionaire Neha Narkhede left India in 2006 to get her master’s in computer science at Georgia Tech. After graduating in 2007, she landed a job at Oracle and then at LinkedIn, where she worked as a software engineer. Today, it’s valued at $2.5 billion and Narkhede, the chief technology officer, is one of America’s richest self-made women, according to Forbes. Narkhede didn’t realize it at the time, but discussing their stories “cultivated a sense of empowerment in me,” she says. To th


Self-made millionaire Neha Narkhede left India in 2006 to get her master’s in computer science at Georgia Tech.
After graduating in 2007, she landed a job at Oracle and then at LinkedIn, where she worked as a software engineer.
Today, it’s valued at $2.5 billion and Narkhede, the chief technology officer, is one of America’s richest self-made women, according to Forbes.
Narkhede didn’t realize it at the time, but discussing their stories “cultivated a sense of empowerment in me,” she says.
To th
Co-founder of a multi-billion dollar company says a lesson from her dad was ‘the single biggest influence’ on her career Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-23  Authors: kathleen elkins
Keywords: news, cnbc, companies, selfmade, dollar, biggest, india, books, multibillion, single, influence, career, linkedin, lesson, dad, worked, women, narkhede, told, indian, female, cofounder, company


Co-founder of a multi-billion dollar company says a lesson from her dad was 'the single biggest influence' on her career

Self-made millionaire Neha Narkhede left India in 2006 to get her master’s in computer science at Georgia Tech. After graduating in 2007, she landed a job at Oracle and then at LinkedIn, where she worked as a software engineer.

In 2014, she and two of her LinkedIn colleagues launched streaming company Confluent. Today, it’s valued at $2.5 billion and Narkhede, the chief technology officer, is one of America’s richest self-made women, according to Forbes.

The 35-year-old owes some of her success to her dad, she tells CNBC Make It: “When I was growing up, he selected books and told me stories of women who were trailblazers in very male-dominated fields.

“He picked examples from many different walks of life: I read books about Indira Gandhi, who was the first female prime minister of India. He told about Indra Nooyi, who is a woman of Indian origin who went on to become CEO of PepsiCo, and about Dr. Bedi, who was the first female head of the Indian police offices.”

Narkhede didn’t realize it at the time, but discussing their stories “cultivated a sense of empowerment in me,” she says. It gave her the belief that, “if people like me can do this impossible thing, then I can too.”

To this day, learning about women who broke barriers remains “the single biggest influence on my career path,” she adds.


Company: cnbc, Activity: cnbc, Date: 2019-10-23  Authors: kathleen elkins
Keywords: news, cnbc, companies, selfmade, dollar, biggest, india, books, multibillion, single, influence, career, linkedin, lesson, dad, worked, women, narkhede, told, indian, female, cofounder, company


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Warren Buffett: This is the ‘most surprising’ lesson I didn’t learn in business school

‘The institutional imperative’The “most surprising discovery,” he wrote, is “the overwhelming importance in business of an unseen force that we might call ‘the institutional imperative.’ In business school, I was given no hint of the imperative’s existence, and I did not intuitively understand it when I entered the business world.” The billionaire continued: “I then thought that decent, intelligent and experienced managers would automatically make rational business decisions. Instead, rationalit


‘The institutional imperative’The “most surprising discovery,” he wrote, is “the overwhelming importance in business of an unseen force that we might call ‘the institutional imperative.’
In business school, I was given no hint of the imperative’s existence, and I did not intuitively understand it when I entered the business world.”
The billionaire continued: “I then thought that decent, intelligent and experienced managers would automatically make rational business decisions.
Instead, rationalit
Warren Buffett: This is the ‘most surprising’ lesson I didn’t learn in business school Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: tom popomaronis
Keywords: news, cnbc, companies, surprising, matter, school, managers, lesson, learned, trend, business, companies, buffett, institutional, imperative, products, didnt, warren, learn


Warren Buffett: This is the 'most surprising' lesson I didn't learn in business school

Great leaders think differently. But take a cursory glance at the majority of consumer products around you, and you’ll see an interesting trend you might not have noticed before: in nearly every industry, from automobiles to computers to clothing, companies tend to produce products that are extremely similar to those of their competitors. Sure, sometimes it’s because there’s plenty of space in the market. But other times, it’s just a blatant attempt to cash in on a trend and boost short-term earnings. And it’s not just products, either — it’s branding, politicizing, team structuring. Companies copy each other in all kinds of ways. Warren Buffett addressed this occurrence in his 1989 letter to Berkshire Hathaway shareholders, in which he reflected on the hard lessons he learned about investing and managing in the preceding 25 years.

‘The institutional imperative’

The “most surprising discovery,” he wrote, is “the overwhelming importance in business of an unseen force that we might call ‘the institutional imperative.’ In business school, I was given no hint of the imperative’s existence, and I did not intuitively understand it when I entered the business world.” The billionaire continued: “I then thought that decent, intelligent and experienced managers would automatically make rational business decisions. But I learned over time that isn’t so. Instead, rationality frequently wilts when the institutional imperative comes into play.” Buffett explained that the institutional imperative can manifest when, for example, “any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops.” It can also occur when “executives mindlessly imitate the behavior of their peer companies — whether they are expanding, acquiring, setting executive compensation or whatever — no matter how foolish it may be to do so.”

Why it can be problematic

This force can drive leaders, even the ones with top credentials, to adopt misguided approaches purely because everyone else is doing it. Why does this happen? Buffett noted that much of it has to do with managers having poor capital management skills, along with the tendency to seize upon any evidence or data — no matter how inaccurate — that supports their resistance to change.


Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: tom popomaronis
Keywords: news, cnbc, companies, surprising, matter, school, managers, lesson, learned, trend, business, companies, buffett, institutional, imperative, products, didnt, warren, learn


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The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell
The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. As a teen, he would fuel his passion for technology and earn extra cash buying and selling gadgets online. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. That lesson? Know your mission. Quek is co-founder and CEO of $550 million online consumer marketplace Carousell. He started the business with his college friends Marcus Tan and Lucas Ngoo back in 2012 after they were inspired by talks from the top tech talents during an internship in Silicon Valley. And, even today, he says those presentations played a vital role in shaping Carousell’s success.

I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Siu Rui Quek co-founder and CEO, Carousell

“The one thing that we really learned and took away,” Quek told CNBC Make It, “is to be absolutely mission-oriented and mission-first.” “This idea of being mission-first just helps people transcend personal egos (and) helps create collaboration,” he said. To be sure, the founders did not mentor Quek and his friends directly. “I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way — I know him but he doesn’t know me,” Quek said.

Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. Carousell

But, by watching their presentations and studying their style, Quek said he and his co-founders were inspired to think about the big picture and how they could use technology to solve big issues. “I think the one commonality all of them had was just this whole fascination for using technology to solve problems and make a big impact,” said Quek. For Carousell, that meant building a platform to simplify buying and selling online, which, Quek said, plays into the company’s wider mission to “inspire every person in the world to start selling.”

You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


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Texans quarterback Deshaun Watson on the lesson he learned as a 14-year-old ball boy for the Falcons

According to ESPN , Watson spent the summer before his freshman year of high school working at the Falcons’ practice facility, which was just 10 minutes away from his childhood home in Georgia. As a young teen, Watson picked up footballs during practice, took care of the team’s equipment and folded towels. Before becoming the 12th overall pick in the 2017 NFL Draft, Houston Texans star quarterback Deshaun Watson got a head start on his football career as a 14-year-old ball boy for the Atlanta Fa


According to ESPN , Watson spent the summer before his freshman year of high school working at the Falcons’ practice facility, which was just 10 minutes away from his childhood home in Georgia. As a young teen, Watson picked up footballs during practice, took care of the team’s equipment and folded towels. Before becoming the 12th overall pick in the 2017 NFL Draft, Houston Texans star quarterback Deshaun Watson got a head start on his football career as a 14-year-old ball boy for the Atlanta Fa
Texans quarterback Deshaun Watson on the lesson he learned as a 14-year-old ball boy for the Falcons Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-06  Authors: courtney connley
Keywords: news, cnbc, companies, players, football, deshaun, watson, texans, young, nfl, learned, quarterback, hes, houston, boy, falcons, practice, 14yearold, ball, lesson


Texans quarterback Deshaun Watson on the lesson he learned as a 14-year-old ball boy for the Falcons

That experience, Watson added, “taught me how to really work hard.” He explained that as a young kid who always hoped to play in the NFL, his job as a ball boy showed him what was possible for his future if he remained determined and focused on his goals.

According to ESPN , Watson spent the summer before his freshman year of high school working at the Falcons’ practice facility, which was just 10 minutes away from his childhood home in Georgia. As a young teen, Watson picked up footballs during practice, took care of the team’s equipment and folded towels. “Anything that the players needed,” he said, “we took care of.”

Before becoming the 12th overall pick in the 2017 NFL Draft, Houston Texans star quarterback Deshaun Watson got a head start on his football career as a 14-year-old ball boy for the Atlanta Falcons.

Deshaun Watson #4 of the Houston Texans looks to pass in the first half against the Jacksonville Jaguars at NRG Stadium on September 15, 2019 in Houston, Texas.

“I always think about it,” Watson, now 24, said. “That’s something that helped change my life. Especially during the times off the field … the way I was raised and the environment I was living in. It helped me see another side of what I can be and what I can become.”

In an essay for The Players’ Tribune, Watson talked about his rough upbringing in a single-parent home, where his mom worked multiple jobs to take care of her four kids. “For most of my childhood, we lived in government housing in Gainesville, Georgia, where I always played pickup football and basketball with the older kids, some of them drug dealers and gang members,” he wrote.

Watson said he and his family’s life changed for the better when he was 11. His mom, who worked as a volunteer building homes with Habitat for Humanity, finally qualified for a new home of her own. “We moved into a brand-new Habitat home that had been furnished by Falcons running back Warrick Dunn, through his charity,” Watson wrote.

As a ball boy for the Falcons, the young quarterback shared how he built a close relationship with many of the players and detailed how some even came to his high school football games to see him play.

“S—, I knew he was a hell of a quarterback,” said wide receiver Julio Jones, who was drafted by the Falcons one year after Watson started working at the practice facility. “I tried to get him to go to Alabama.”

Watson, who attended Clemson University instead, emphasized that this Sunday’s game, Oct. 6 against the Falcons, will be a full-circle moment for him. Already, he said, he’s looking forward to seeing Kenny Osuwah, who is still the team’s equipment manager, and he’s looking forward to speaking with Falcons quarterback Matt Ryan at some point on game day.

“I know a lot of those guys sit there and watch him,” Falcons former receivers coach Terry Robiskie told ESPN, “and, like me, they’re just amazed at how far he’s come and where it all came from and where it all started.”

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Don’t miss: Why NFL star Michael Bennett skips direct deposit and keeps his checks ‘until the end of the season’


Company: cnbc, Activity: cnbc, Date: 2019-10-06  Authors: courtney connley
Keywords: news, cnbc, companies, players, football, deshaun, watson, texans, young, nfl, learned, quarterback, hes, houston, boy, falcons, practice, 14yearold, ball, lesson


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Your kid makes $1,500 a year in allowance. Here’s how to turn that into a money lesson

But most of them won’t be able to make a big buy with allowance money. “We as parents have to teach them what’s in it for them [to save],” Almonte said “Why shouldn’t they buy that toy today? Three out of four adults say the most important purpose of an allowance is to teach children the value of money and financial responsibility. Show them where the money goesOpen a bank account with your child so they see where their money ends up. “It’s really hard for someone to be like ‘here’s $10 for your


But most of them won’t be able to make a big buy with allowance money. “We as parents have to teach them what’s in it for them [to save],” Almonte said “Why shouldn’t they buy that toy today? Three out of four adults say the most important purpose of an allowance is to teach children the value of money and financial responsibility. Show them where the money goesOpen a bank account with your child so they see where their money ends up. “It’s really hard for someone to be like ‘here’s $10 for your
Your kid makes $1,500 a year in allowance. Here’s how to turn that into a money lesson Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: mallika mitra, jill cornfield
Keywords: news, cnbc, companies, makes, almonte, savings, kids, parents, lesson, heres, bank, allowance, teach, 1500, money, turn, kid, financial, save


Your kid makes $1,500 a year in allowance. Here's how to turn that into a money lesson

Jose Luis Pelaez Inc | DigitalVision | Getty Images

Children are pocketing an average of $30 a week in allowance — enough to rack up around $1,500 in a year. But most of them won’t be able to make a big buy with allowance money. Only 3% of parents say their kids primarily save their cash, according to a new telephone survey from the American Institute of CPAs. The organization polled 1,002 adults from Aug. 22 to Aug. 28. Of these, 273 identified as a parent or guardian of at least one child aged 25 or younger who is living at home. “Once you put money in someone’s hands, it feels like it’s just burning a hole there and they have to do something about it,” said David Almonte, CPA and member of the American Institute of CPAs’ financial literacy commission.

Close to half of the parents said their children’s allowances go toward outings with friends, while 37% said their kids spend the money on digital devices or downloads. A third of parents said their kids use the cash to buy toys. “We as parents have to teach them what’s in it for them [to save],” Almonte said “Why shouldn’t they buy that toy today? Whats the benefit of waiting?” Three out of four adults say the most important purpose of an allowance is to teach children the value of money and financial responsibility. Here are some tips on how to do that.

Make them earn it

SDI Productions | E+ | Getty Images

Nothing is free — not even that weekly allowance. “If you just give someone money, you help them resolve a short-term need,” Almonte said. “If you teach someone to earn money, you set them up for financial success for the rest of their life.” One way to do this is through chores. This teaches children the real world lesson that, “if you don’t show up and put in the effort, you don’t get a paycheck,” Almonte said. Another option is to reward them for saving by matching dollars for dollars — this allows them to turn $20 of savings, for example, into $40.

Show them where the money goes

Open a bank account with your child so they see where their money ends up. Bring your kids to the bank and explain to them what happens to their money when they keep it in a savings account instead of spending it. “It’s really hard for someone to be like ‘here’s $10 for your allowance,’ then take it back to put it into savings,” Almonte said. “As a kid, you’re like ‘where did my money go?”

If you teach someone to earn money, you set them up for financial success for the rest of their life. David Almonte CPA and member of the American Institute of CPAs’ financial literacy commission

Because a lot of banking is now done digitally, this can also be done online. Cristina Guglielmetti, a certified financial planner and founder of Future Perfect Planning in New York, does this with her 9-year-old son. “I log into the bank and show him ‘this is where our interest is, this is how much we had last month and this is how much we have this month,'” Guglielmetti said. Seeing and understanding bank statements can help children track the increase in their savings and the decrease in their spending. Another way to show them where their money goes is to tell them that for every dollar they save, you’ll donate 10% to an organization of their choice. You and your child can hand-deliver the donation, Almonte said.

Talk about money early and often

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Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: mallika mitra, jill cornfield
Keywords: news, cnbc, companies, makes, almonte, savings, kids, parents, lesson, heres, bank, allowance, teach, 1500, money, turn, kid, financial, save


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After being forced to cut prices in China, Apple still hasn’t learned its lesson

Tim Cook announces the iPhone 11 at a launch event in Cupertino, Calif on Sept. 10, 2019. In the second quarter, its China market share dipped to its lowest level in a year, according to Counterpoint Research. But Apple’s new iPhone 11 range still has a hefty price tag in China. No 5G iPhoneApple’s iPhone 11 series did not have a phone capable of connecting to 5G networks. Apple was not expected to release a 5G iPhone this year but some predict the company may do so in 2020.


Tim Cook announces the iPhone 11 at a launch event in Cupertino, Calif on Sept. 10, 2019. In the second quarter, its China market share dipped to its lowest level in a year, according to Counterpoint Research. But Apple’s new iPhone 11 range still has a hefty price tag in China. No 5G iPhoneApple’s iPhone 11 series did not have a phone capable of connecting to 5G networks. Apple was not expected to release a 5G iPhone this year but some predict the company may do so in 2020.
After being forced to cut prices in China, Apple still hasn’t learned its lesson Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: arjun kharpal
Keywords: news, cnbc, companies, lesson, market, premium, prices, china, pro, learned, apple, forced, research, networks, iphone, cut


After being forced to cut prices in China, Apple still hasn't learned its lesson

Tim Cook announces the iPhone 11 at a launch event in Cupertino, Calif on Sept. 10, 2019. Source: Apple

Apple released a new range of iPhones on Tuesday — but none of them had 5G capabilities. That, together with a hefty premium that Chinese users must pay for the latest iPhone 11 series, could hurt the U.S. technology giant’s performance in China, analysts told CNBC. The world’s second-largest economy is a crucial market for Apple but it has struggled in recent times. In the second quarter, its China market share dipped to its lowest level in a year, according to Counterpoint Research. Shipments of iPhones also declined, the analysis showed. One of the problems Apple had with the last iPhone series — the XR, XS and XS Max — was the premium pricing which put off some Chinese consumers. But Apple’s new iPhone 11 range still has a hefty price tag in China. Compared to the prices in the U.S., Chinese consumers have to pay a premium that’s between 10.5% and 12.5% for the iPhone 11, and 18.6% to 23% more for the iPhone 11 Pro and Pro Max, according to an analysis by CNBC.

Compared to last year’s XR — the equivalent of the new iPhone 11 and the cheapest of the range, the premium was 28%. So that has come down significantly. But the premium for last year’s XS and XS Max was around 26% — not too much higher than the iPhone 11 Pro and Pro Max.

Prices slashed

In January, retailers in China cut the prices of last year’s iPhone models. Months later, Apple announced its official price slash. Analysts say that it appears Apple hasn’t learned its lesson. “Apple, after ten years of operations in China with local manufacturing, still commands a ~20% premium which is quite high for a market less developed in terms of per capita spend than U.S.,” Neil Shah, research director at Counterpoint Research, told CNBC. However, the iPhone 11 might find some love in China, given the premium is lower than the Pro and Pro Max and compared to the XR.

The price “might not matter as much for the high-end models, since those buyers tend to be hardcore fans and status-conscious users who will buy them anyway,” Bryan Ma, vice president of devices research at IDC, told CNBC. “The more important one to look at is the 11 (XR replacement), which is reasonably priced for the market. I would think that Apple focused its pricing strategy on that model too.” Daniel Ives, managing director of equity research at Wedbush Securities, said he believes roughly 60 million to 70 million Apple users are due for an upgrade in China. Of course, not all of them will choose to upgrade to the newer phones. Still, Shah of Counterpoint Research, said he expects Apple shipment volumes to “barely cross” 30 million units this year, down from the 65 million at its peak in 2015. “So while the market has grown, Apple’s share has been declining and the user base is stagnant coming from new phone additions. Most additions are from refurb, second hand or used phones in circulation,” Shah said, referring to refurbished phones.

No 5G iPhone

Apple’s iPhone 11 series did not have a phone capable of connecting to 5G networks. These are next-generation mobile networks that promise super-fast data speeds with the ability to support technologies like driverless cars. 5G networks are slowly being rolled out around the world and in China they are slated to come online as early as this year.

While I didn’t expect it, I think the lack of a … 5G modem option will hurt sales in China. Patrick Moorhead Moor Insights & Strategy

Apple’s rival Huawei will have two 5G smartphones on the market in China this year, while Xiaomi also currently has one on sale. Apple was not expected to release a 5G iPhone this year but some predict the company may do so in 2020. However, with 5G networks being built in China and the Chinese consumer known for looking for cutting-edge features, Apple could be at a disadvantage against local rivals.

“While I didn’t expect it, I think the lack of a … 5G modem option will hurt sales in China,” Patrick Moorhead, founder of Moor Insights & Strategy, said in a note on Tuesday. 5G networks take time to roll out and widespread coverage is not instant. But over the next few years, they will offer a wider area of coverage and reliability. Apple is waiting for this to happen, analysts said. “The lack of 5G is little surprise. Whilst it stands to impact Apple in key markets such as China, Apple has opted to echo its approach with 3G and 4G by waiting for networks to be established so it can deliver 5G at scale with maximum impact,” Ben Wood, chief of research at CCS Insight, said in a note on Wednesday.

Trade war and Huawei

Apple is also facing some broader issues in China related to the trade war with the U.S. With Huawei in the crosshairs of the U.S. — and facing restricted access to American technology — the Chinese firm has increased focus on its domestic market. In the second quarter, Huawei upped its focus on China and saw shipments surge to record levels. Tariffs also continue to be a black cloud hanging over Apple given the fact that the majority of iPhone assembly takes place in China. Apple’s iPhone was bracing for a 10% tariff starting September 1, until President Donald Trump announced a delay. That tariff will now come into effect on December 15.


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: arjun kharpal
Keywords: news, cnbc, companies, lesson, market, premium, prices, china, pro, learned, apple, forced, research, networks, iphone, cut


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