Leadership v communityship

Henry Mintzberg is widely recognised as one of the world’s leading management thinkers. As he publishes his latest unfussily titled book Managing, he speaks to Irish Director magazine. Described by Tom Peters no less as “perhaps the world’s premier management thinker”, we were delighted to catch up with Henry Mintzberg (pictured) on the occasion of the release of his latest book, which is rather unpretentiously entitled Managing. Well known for his forthright and often irreverent take on all things management, Mintzberg is quick to dismiss the current trend to separate ‘leadership’ from ‘management’. “You can’t separate those two,” he tells me. “Nobody wants to have a manager who is not…

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Germany forces Emirates to raise business fares

emiratesairlines

With the global recession driving the demand for and price of airline fares downwards, there was surprising news from Germany today as the government there has forced Dubai’s Emirates airline to increase the price it is charging for business-class tickets on flights leaving Germany for non-EU destinations. The Financial Times reports Emirates as saying that the “imminent threat of significant fines” meant it had to increase the price of business-class fares on flights originating from Germany, with some routes seeing prices increase by as much as 20pc. Emirates described the charges as “anti-consumer” and “commercially nonsensical”, claiming the charges are not being levied on other airlines flying out of Germany and saying…

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AIB commands 40pc market share of residential property deals

AIB today announced that it provided finance for 40pc of all residential property transactions in the third quarter of 2009. The bank said this level of new business activity offered “strong evidence” of its commitment to the overall economy and support for the housing market in particular. AIB also pointed out that it had been responsible for one in three of all new first-time buyer mortgage drawdowns in the market in the third quarter. According to the bank, when compared with the same period last year, this means that AIB’s overall market share of first-time buyer mortgages has more than doubled. Steady flow of good-quality applications “While the demand for…

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Paulson revealed US govt policy to Goldman Sachs – report

Goldman Sachs has hit the headlines again today, and for once the story does not concern the generous remuneration packages awarded to its staff. According to Felix Salmon at Reuters, Henry Paulson (pictured), the former US Treasury Secretary who was at the helm when the financial crisis hit in the autumn of 2008, held a meeting with Goldman Sachs’s board in Moscow in which he revealed details of future government policy. The revelation is contained in a new book, Too Big To Fail, written by New York Times columnist Andrew Ross Sorkin, which describes the events leading to the collapse of Lehman Brothers last year. Sorkin’s book alleges that Paulson…

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US Treasury says Chinese yuan is undervalued

The US Treasury has criticised the Chinese Government for what it sees as a lack of flexibility in the Chinese currency, the yuan. In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies published yesterday, the US Treasury also said that China’s renewed accumulation of foreign exchange reserves risks unwinding some of the progress made in reducing global imbalances when stimulus packages are eventually withdrawn and demand by China’s trading partners recovers. Both of the rigidity of the yuan and China’s reacceleration of reserve accumulation are “serious concerns” that should be corrected to help ensure a stronger, more balanced global economy, the US Treasury said. It also…

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Bloomberg Buys BusinessWeek from US Publisher McGraw Hill

The US publisher McGraw Hill is to sell its popular business magazine BusinessWeek to Bloomberg . The acquisition will strengthen Bloomberg’s online, television and mobile products, Bloomberg Chairman Peter Grauer said in a statement yesterday. “BusinessWeek will be a powerful addition to our portfolio of leading news and information services,” he added. McGraw-Hill said the transaction would enable it to continue focusing resources on building the size, scale and global presence of its brands. Details of the deal were not disclosed. However, BusinessWeek cites “knowledgeable sources” in its story on the deal, saying that Bloomberg’s cash offer is in the US$2m to the US$5m range and that it has agreed to assume liabilities,…

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Ireland will lag recovery elsewhere – Central Bank

Ireland’s recovery from recession will be slower than elsewhere, the Central Bank said today as it acknowledged hopes are rising that the global downturn in European and the world economies has now reached a turning point. However, despite the gloomy comparisons to other economies, the bank did raise its forecasts for Irish economic growth in its latest quarterly bulletin. The bank’s latest forecast suggests that, while the pace of decline in economic activity is moderating, the weakness in Irish economic activity is set to persist into the first-half of 2010. However, it has raised its forecast for economic growth in 2009 and 2010 slightly from its last quarterly bulletin. The…

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Coca-Cola workers go on strike

Workers at Coca-Cola HBC (Bottlers) Ireland have begun industrial action today at the company’s main Irish distribution centres. Pickets have been placed on Coca-Cola HBC depots in Tuam, Cork, Dublin, Waterford and Tipperary. The strike follows the decision by Coca-Cola HBC to outsource 130 jobs to third-party operators. According to SIPTU, last week the 130 Coca-Cola HBC drivers and warehouse staff involved in the dispute received letters from three private transport companies offering them new employment at what the trade union described as “greatly disimproved pay and working conditions and containing threats of redundancy”. The companies, Brian Daly Transport Services Ltd of Ratoath County Meath, Liam Carroll Haulage Ltd of…

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News Corp Posts Q4 Losses, Murdoch Charge for News

Rupert Murdoch

One of the world’s biggest media companies, News Corporation, today revealed that fourth-quarter operating income had slumped by over 30pc to US$3.6bn, a US$1.7bn decline from the record US$5.3bn in operating income reported during the same quarter a year ago. The Chairman and Chief Executive Officer Rupert Murdoch (pictured) also warned in a conference call following the results that the group is planning to charge for news. News Corp, whose assets include TV station Fox, social-networking website MySpace, newspapers such as the Wall Street Journal and the New York Post, and the 20th Century Fox film studio, reported a fourth-quarter net loss of US$203m (US$0.08 per share) compared with net income…

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Bord Snip Nua to Suggest Cuts of €5bn

Cuts of up to €5bn in public expenditure are to be proposed to the Minister for Finance, Brian Lenihan TD, later this week by the group charged with identifying where savings can be made in the public purse. The Special Group on Public Service Numbers and Expenditure Programmes, which has been nicknamed An Bord Snip Nua, will make over 400 recommendations on where money can be saved in public expenditure, the Irish Times has reported this morning. The group, which is chaired by UCD economist Colm McCarthy, was set up in late 2008 to review public services staffing levels and spending. According to the paper, sources say that proposed cuts…

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