Category: Business

Lehman Brothers – whoops!

Wonderful article in the Financial Times about the importance of IT documentation!

Unwinding derivatives is a complex task at the best of times. In the case of Lehman, one of the biggest dealers in some of the most complex derivatives markets, this has been even more so. Lehman’s global derivatives book included contracts with a notional face value of $39,000bn and deals with 8,000 different counterparties when it went bust. The derivatives business was actually split into multiple strands, backed up by between 20 and 30 different systems.

Once it went bankrupt, the staff who supported these systems “evaporated”, according to Steven O’Hanlon, president of Numerix, a pricing and valuation company which is working with Lehman Brothers Holding Inc to unwind the derivatives portfolio.

Say no more! Full article is here.

By Paul Handover

Lehman – 1 year on.

Exactly a year ago, Lehman Brothers filed for bankruptcy.

I shall avoid the temptation of pontificating on the subject as many, many others, far better qualified, will be doing so!Leyman

But two published articles seem to me to be worth visiting, one from October of 2008 from The Economist, and one from The New York Times.

Lastly, a personal comment from friend Dan that shows powerfully how the last year has affected him.

Read more of this Post

Now you see it, now you don’t!

Bermeja (Mexican Gulf) – anyone seen my island?

There’s a wonderful story in last week-end’s The Sunday Times, a British newspaper, written by Matthew Campbell concerning the loss of an important island that has been used previously to define the limits of Mexico’s maritime

Old map with Bermeja
Old map with Bermeja

border (read oil!).  Here’s an extract:

The mystery has come to haunt Mexico as unrelentingly as one of its beloved soap operas: where is Bermeja, an island off the Yucatan coast that appears to have vanished without trace?

The disappearance of Bermeja is no laughing matter – it would allow Mexico to extend its maritime border some 55 miles further north, helping it to fight off what it sees as American encroachment on its claims to potentially vast oil reserves in the Mexican Gulf.

Read more of this Post

Johnathan Wilson Lewis – another thinker.

Fourier approaches to the theory of volume holography.

Anyone who takes a doctorate with the above subject title has to have a well-functioning brain.  I know John.  He does.

John Lewis, as I have always known him until reading his Blog, and I met a good many years ago when we both were members of a private flying group that operated a Socata (French) TB20, G BPAS.

TB20 G-BPAS
TB20 G-BPAS

It was based at Exeter in Devon, SW England.  Both of us were/are private pilots.

We flew together on many an occasion and it was clear from the start that John approached everything in life from, well in his own words, “…. motivated by an interest in what things are, how they work and how they are used.”  Say no more!

Well, as luck would have it, the joys of social networking brought us back in touch recently and we had a jolly good chin-wag.  With a bonus.

Read more about John Lewis

Precision engineering

Technology is so much more than bits and bytes.

Recently had the opportunity to visit a factory belonging to Horst Engineering in the nearby town of Guaymas (pronounced whymas), Sonora, Mexico.  The factor manager is an American, Andy Law, who, with his lovely wife, livesHorst 2 across the road.

It is simply ages since I have seen a precision engineering factory at work.  Not only was I impressed but it took me on a long trip down memory lane, with a couple of strands: engineering tools and the British defence industry.

But before the reminisces, a word about the calibre of the young Mexicans working for Andy.  Unlike so many of the locals who one comes across, these bright, young men and women are committed, self-motivated, multi-lingual (Sp/Eng) citizens. It was a treat to observe them and hear Andy speak so highly of them.  Mexico sorely needs up-coming generations of highly capable people.

Continue reading “Precision engineering” →

Patrice Ayme and truth

Intelligence at the core of humanism

A while ago a comment on Baseline Scenario jumped off the screen at me.  I was intrigued because the author of this comment used words with power and insightfulness.  That author was Patrice Ayme.  It’s a nom de plume. [NB. Not it isn’t, see comments below] The sub-heading at the top of this Post is from his Blog.  Here’s an extract from the About section of that Blog.

This is a site that tries to find out what is really happening, and what is not, what is right and what is wrong, on many important questions, and in all sorts of ways. In other words thinking is applied relentlessly, the way evolution made it, as the ultimate instrument of domination of anything in sight (be it domination of oneself, of one’s own ideas and emotions, or domination of the universe). Thinking evolved to predict effectively and ambitiously, not to cower in a corner, modest and dazed. Prometheus’ punishment was a regrettable misunderstanding: we did not steal fire from someone, we created our mastery of fire, and fire made us what we are, as we wished. Mastering fire was not a sin, the Greco-Romans were wrong on that one. Fire was part of what we have evolved to be; masters of the universe, for better or worse.

Read more about Patrice

Cell phones and cancer

Is the mobile telephone industry being honest?

A report released by the International EMF Collaborative last week has some disturbing information in it; that cell phones (mobile phones in Europe) are more likely than not to be a causative factor in some cancers, most notably brain cancers.

That information will not come as a surprise to anyone as rumours have been circulating for many years.  What is driving-while-on-cell-phoneworse (if brain cancer wasn’t bad enough) is a growing view that the cell phone industry may have been trying to skew the results in favour of the industry.  If proven, that sort of corporate behaviour underlines the value of integrous living as the only way of creating a society fit for all.

The International EMF Collaborative claims that the Interphone study, which begun in 1999, was “intended to determine the risks of brain tumors, but its full publication has been held up for years. Components of this study published to date reveal what the authors call a ’systemic-skew’, greatly underestimating brain tumor risk.”

Know of young people using cell phones? Then read more and pass this Post on to them.

Read more about this study

Good old-fashioned service values

What a delight to come across people who care.

This is a personal story with a wider message. That great after-sales service matters and in these difficult times will make the difference between surviving and even growing, or failing.

I drive a 2005 5.7 litre Jeep.  It was bought (second-hand) when I arrived in the US about a year ago, en route to JeepMexico.

Just recently the automatic transmission failed.  There was no choice but to commit it to the local Mexican Jeep dealership for repair.  This is a sophisticated transmission system and I was seriously worried that it was going to be a nightmare.

I didn’t account for the help from AASTRO in Tucson, where the Jeep had been serviced a couple of times.

Continue reading “Good old-fashioned service values” →

A little later than I would have wished!

Jon Lavin.

You will see from the Hello World post at the head of Learning from Dogs that the idea of integrity being a topic for wider discussion arose a while ago.  Busy lives (and a big misunderstanding about Blogging!) put off us doing something until Paul got the Blog under way in July, this year.

I still have, thank goodness, plenty of work demands on my time and a busy family life but, at last, will be finding time to explore the importance of integrity.

As I say in About this Blog, I had noticed that businesses that were operating largely with integrity, tended to be happier places, got better results and it was possible to develop levels of awareness within teams that enabled them to work together far more effectively. Levels of self-awareness are important because they allow people to develop closer business relationships with everyone internal and external and this leads to increased levels of trust.

By Jon Lavin

Selling Change – Concluding Part.

Understanding the process of change – key learning points.

  • Good, really good, knowledge of your products and services is essential.
  • People don’t buy anything unless they are dissatisfied with their present circumstances.Questioning
  • Selling change means getting the client to recognise that change brings real benefits.
  • Only good, client-focused questioning will uncover real needs.
  • Only excellent listening skills will allow you to hear what those needs are.
  • Don’t worry about the type of questions – just question, question, question.  Oh, and listen!
  • Understanding the potential customer’s business and where their needs are is fundamental.

Needs questioning is a sales concept.

Continue reading “Selling Change – Concluding Part.” →