Monday, May 10, 2010

RRJ#5

Bixi Li
EPA1
May 5, 2010
Business
Why Goldman should overhaul its board
Reference:
Barr, C. (2010,April 20). Why Goldman should overhaul its board. Retrieved April 21, 2010, from CNN.com
http://money.cnn.com/2010/04/20/news/companies/goldman.board.fortune/index.htm
Summary:
In this article, the author mainly discussed the fact that Goldman is in a bad situation. Goldman disagrees with the allegation that they ripped off customers to get big profits, and they began to fix it from Goldman’s board and the tone of the firm's dealings with the public. The author compared Goldman and Citi, and says that Citi is doing better in dealing with public, but Goldman is not. Populists resent Goldman's giant pay packages and its ties to anywhere in Washington; this event is a good lesson for Goldman. Professionals said the board of Goldman is too cozy and very unprofessional, but people who pay money to Goldman agree with their ideas; they would not check on them. There are some scandals about Goldman and the board hided them. But someday it will blow up Goldman’s once glowing reputation if they work on this train. Blankfein still is Goldman’s CEO, even though independent board leadership has become obvious. However, the situation will become worse, if he does not follow Pandit’s way of redemption. The firm will take scrutiny; Goldman probably cannot control their agenda freely.
Reaction:
After reading this article, I think that a good reputation is very important for a company. Profits and a good reputation are complementary. To make the company have a good reputation requires a lot of efforts. Not only are products of the firm high quality, but also the service of the company is fulfilling. Those things can win people’s good opinion of the company. Beliefs from customers are a treasure and the key to doing a good business. On the other hand, a wise leader also is vital for a firm. But the wisdom means a person not only has a lot of professional knowledge, but also can keep a good relationship with employees. The leader knows how to make them work hard for him and be happy to be his staffs, and take care of them. A nice mood can improve the efficiency of a person. For example, the ex-CEO of Google, Kaifu Li, has a good relationship with his staff. From an interview of Google China, there are several rooms for employees to relax in their office, such as snack room, game room and bed room. Staff can use these rooms any time, and they also work hard. There is a restaurant, year round supply of seafood and staff can take seafood back to their family. After Kaifu Li left Google, many numbers were willing to follow him. The most important reason is they feel happy about working for Kaifu Li. Furthermore, those employees are personnel. Therefore, a good leader is the wealth of a company.


Vocabulary:
1. overhaul—an exam of a system, including repairs and changes.
2. board—a group of people have power to make decisions a company.
3. heresy—strongly disagree of a belief.
4. cue—information be implied.
5. Sin— a moral error.
6. Redemption—save something from evil; act of exchanging shares for money.
7. omnipresent—exist in anywhere.
8. outrage— very angry.
9. allegation— a public statement.
10. composition— something is organized.
11. drub— hit heavily.
12. savvy— knowledge, understanding of something.
13. scandals—bad behavior made public angry or shock.
14. reputation— the opinion that about do you like or not.
15. amend—correct the law, document, statement, etc.
16. claw back— the money that is paid back
17. scrutiny—careful and thorough examination
18. agenda—a list of items to be discussed at a meeting.

Thursday, May 6, 2010

RRJ#4

April 15, 2010
Business
Google earnings soar 38%
Reference
Ellis, Blake (2010, April 15). Google earning soar 38%. Retrieved April 15, 2010, from CNN.com
http://money.cnn.com/2010/04/15/news/companies/google_earnings/index.htm


Summary:
Google made a great profit in the first quarter of 2010, which is beyond the budget of analysts. Advertising is the vital reason of lifted sales. Next, Google will force on innovation that is a basic function of increasing future business. Google has already increased hiring in the first quarter of 2010 and they are going to hire in the next three quarters. Google in mainland China moved to Hong Kong because of the dispute with Chinese government, but Google say that this is a correct decision and would not affect the future of Google in China. The mobile introduced by Google is a profitable business for them; thus, Google will continue research in this area. Buying AdMob provided display of advertise technology for mobile internet sites, which is another benefit to help Google make the achievement in the first quarter. The CEO of Google will not participate in the company’s earnings call. Although Google earnings soared a lot, shares of Google have been down. Yahoo and Apple, competitors of Google, will announce their first quarter earnings results soon.

Reference:
After I read this article, I thought IT is a never-declining industry. But innovation is the source of keeping going. If I were the leader of Google, I would invest heavily in the development of new projects and that would force to find and force the finding of creative talents. The mobile produced by Google took credit from people, which is a good example of innovation. Eric would not participate in the company’s earnings call, which makes me remember ex-CEO of Google in China—Kaifu Li. I recognized him two years ago from a TV program. He led his Google team to work very well, and gave them good treatment. Everyone is happy to work with him. I have wanted to be an employee of Google with Kaifu since that time. A giant company should have such a charming person to lead. On the other hand, China is a country with a large populations. There are many people who use the internet. Thus, Google should never give up developing in China. From personal view, I think Google is better than Baidu, which is a website similar to Google. Some sources of Baidu link with Google, and sources of Google are more comprehensive and truthful. Baidu has many personal opinions. As for Yahoo and Apple, I seldom use them in China, because their systems are not perfect in China.

Vocabulary
1. soar—rises very quickly
2. quarterly—three monthly
3. trump— to be better than anything else
4. revenue—income
5. surge—grow up dramatically
6. acquisition—pursue
7. committed—promise
8. investment— the act of investing money in something
9. innovation—creation
10. aggressively—not friendly
11. infrastructure—basic facility
12. dispute—argument
13. censorship—check by policy
14. disclose—tell some vital information
15. acknowledge—to accept that something is true