明星资讯腾讯娱乐2018年04月21日 00:34:24

  The causes and consequences of the long-running inflation of profits by Toshiba reflect some uniquely Japanese cultural norms. So, inevitably, did the 2011 scandal at Olympus, where successive leaders covered up accounting manipulation.东芝(Toshiba)长期虚报利润的原因和后果,反映出日本一些独特的文化习俗。奥林巴斯(Olympus)2011年爆出的丑闻也必然如此。奥林巴斯曾有连续数位掌门人掩盖会计操纵的问题。But the genetic traces of those debacles are visible in plenty of other countries and companies. Self-satisfied boards of non-Japanese companies should examine the flaws that are common to all corporate cultures — almost certainly including their own.但是,这类溃败背后的基因痕迹在很多其他国家和企业都能看到。非日本企业洋洋自得的董事会应该对所有企业文化中常见的缺点进行检查——几乎肯定包括了它们自己的企业文化。After all, there are only so many ways of cooking the books, however varied the details of each case. In the introduction to his indispensable anthology of creative accounting, Michael Jones, a professor of financial reporting, identifies just four main strategies — increasing income, decreasing expenses, increasing assets and decreasing liabilities. Toshiba was doing the first, according to an independent report — but so, for example, was WorldCom, one of the most notorious US cases of accounting fraud, back in the early 2000s.毕竟,作假账的方式太多了,不过每种情况的细节有所不同。财务申报方面的教授迈克尔琼斯(Michael Jones)在介绍伪造账目方面不可或缺的选集时,指明了4种主要策略——增加收入、减少出、增加资产以及减少负债。据一份独立报告称,东芝使用的是第一种手法——不过,举个例子,世通(WorldCom)也是这么做的,它是21世纪初最臭名昭著的美国假账案之一。Control failings are one common theme. The audit committee at Toshiba includes executive directors — a red flag to UK governance purists. But directors, auditors and risk managers can succumb to capture or groupthink anywhere. It took the financial crisis to enshrine the idea that UK banks’ chief risk officers should be more independent, for instance.控制失败是一种常见主题。东芝的审计委员会中包含执行董事——这对英国的公司治理纯粹主义者来说是一个危险信号。但是,在任何地方,董事、审计员和风险管理者都可能会屈于群体思维,或者被监督对象所俘虏。只有经历了金融危机才能铭记住这类观点——比如,英国的首席风险官应该更加独立。As for lack of objective supervision, the UK principle that chief executives should be overseen by an independent chairman is widely ignored in the US. When boards do split the roles, it is often to give the former chief executive a stepping stone to retirement, an echo of the way former Toshiba and Olympus executives clung on to influence over their companies after they left. Even in the UK, companies are only one emergency decision or succession crisis away from appointing an executive chairman.至于缺乏客观监督方面,英国对首席执行官应接受独立董事长监督的原则,在美国被广泛忽略。当董事会的确让不同的人担任这两个角色,这通常是给前任首席执行官一块通往退休的垫脚石——这与东芝和奥林巴斯前首席执行官在离任后不愿放弃对公司影响力的情况相呼应。即便在英国,如果企业需要做紧急决定或是遭遇继任危机,也会任命一位执行董事长。Unwillingness to challenge authority, a trait attributed to employees at Toshiba and Olympus — and often given an “only in Japan” spin — is a recurring problem everywhere, from Royal Bank of Scotland under Fred Goodwin to Fifa under Sepp Blatter.不愿挑战权威——这被认为是东芝和奥林巴斯的员工身上的特性,而且常被贴上“只出现在日本”的标签——是世界各地反复出现的问题,无论弗雷德古德温爵士(Sir Fred Goodwin)执掌时的苏格兰皇家(RBS)还是塞普布拉特(Sepp Blatter)领导的国际足联(Fifa)都不例外。The assumption that non-Japanese companies benefit from the protection of more advanced governance codes is broadly true. But such armour can be paper-thin if not reinforced in practice. Enron was technically in line with US boardroom practice. Toshiba was itself held up as a model of governance. It started appointing outside directors to its board long before the Olympus fiasco prompted wider corporate reform in Japan.非日本企业受益于更先进的治理法范的保护——这种设想基本是正确的。但是,这种保护性的盔甲可能会形同虚设,如果没能在实践中加固的话。在法律层面,安然(Enron)与美国董事会的做法一致。东芝本身被树立为公司治理的典范。该公司任命外部董事进入董事会的做法,远早于奥林巴斯惨剧在日本引发全面企业改革。The most important lesson from Toshiba is about the malign impact of top-down pressure to meet unrealistic targets. Toshiba’s ex-chief executive denies having given direct instructions to staff to inflate profits. But the investigating panel said he told executives to “use every possible measure to achieve profitability” and added that Toshiba’s corporate culture did “not allow employees to go against the will of their superiors”.从东芝得到的最重要教训是,为达到不切实际的目标而由上而下施加压力,会带来不利影响。东芝前首席执行官否认直接向员工作出虚报利润的指示。但是,调查委员会称,他曾向高管表示“利用一切可能的手段来实现盈利”,该委员会还补充称,东芝的企业文化“不允许员工违背上级意愿”。Staff at target-chasing western banks before the credit crunch or at WorldCom ahead of its collapse in 2002 may recognise that picture. Bernie Ebbers, the telecoms group’s chief executive, “created, and the [then] board permitted, a corporate environment in which the pressure to meet the numbers was high, the departments that served as controls were weak, and the word of senior management was final and not to be challenged”, a WorldCom board investigation found in 2003.信贷紧缩前在追逐目标的西方业工作的员工、或者世通2002年破产前的员工,也许会觉得这画面似曾相识。2003年对世通董事会所做的一份调查发现,时任该电信集团首席执行官的伯尼埃伯斯 (Bernie Ebbers)“创造了(董事会随后允许了)一种企业环境——完成业绩数字的压力很大、承担控制职能的部门很弱、高管层的指示毋庸置疑,不会受到挑战”。If the Toshiba report were just a snapshot of how some Japanese companies are fossilised relics of what corporate governance used to look like elsewhere, the rest of the world could rest easy. But the rest of the world should not be so smug. A new survey suggests that internationally, 37 per cent of management accountants, who help companies seek out investments and control risks, have felt under pressure from managers or peers to compromise corporate ethics. The percentage has risen over the past three years in most places polled, including the UK and the US.如果这份关于东芝的报告仅仅揭示出,有些日本企业正是其他地方以往公司治理面貌的“化石遗址”,那么世界其他地方便可高枕无忧。但是,世界其他地方不应该如此安然自得。一份新调查显示,全球37%的管理会计师(负责帮助企业寻找投资并控制风险)已经感觉到来自经理或同侪的、让其放弃企业伦理的压力。在绝大多数接受调查的地区——包括英国和美国——这一比例在过去三年均有所上升。When aggressive targets, irresistible management pressure and weak controls coincide, misconduct can sp quickly. Rival companies see the inflated numbers and strain to match them. To suggest such weaknesses are confined to one corporate or national culture is a first step into dangerous complacency.当激进的目标、不可抗拒的管理压力以及控制薄弱同时出现时,不端行为便会迅速蔓延。对手企业看到虚报的数字,就会想方设法报出差不多的数字。认为这种嗜好为某一家企业或某种民族文化所独有,就是步入危险自负的第一步。 /201507/389620


  Michael Dell has sealed the biggest deal in tech history, after his privately run PC maker agreed to acquire data storage maker EMC for about bn.迈克尔戴尔(Michael Dell)已经敲定了了科技界史上最大的一笔交易,其私人经营的个人电脑制造商同意以630亿美元左右的价格收购数据存储制造商EMC。Dealmaking in the sector has reached the highest level since the dotcom bubble of the late 1990s, hitting about 0bn in value. A wider boom in mergers and acquisitions also saw Anheuser-Busch InBev, the Brazilian-backed brewer, yesterday sweeten its offer for London-listed SABMiller to 67bn.美国科技行业的交易已经触及自上世纪90年代末网络股泡沫以来的最高水平,总值达到约3700亿美元。合并和收购的整体繁荣也见了巴西人控股的啤酒酿造商百威英(Anheuser-Busch InBev)昨天把对伦敦上市的SABMiller提出的报价提高至670亿英镑。EMC shareholders will receive .05 in cash plus new shares tied to the value of VMware, a maker of data centre software that EMC aly controls.EMC的股东将得到每股24.05美元的现金外加与威睿(VMware)价值关联的新股。威睿是EMC已经控股的数据中心软件提供商。That was worth about .15 per share at last Wednesday’s intraday price — or bn for the whole company — before news of the Dell-EMC talks emerged. But VMware shares fell 11 per cent to .02 by lunchtime in New York, lowering the headline value of the deal. Shares in EMC were trading up 1.1 per cent at .17.按上周三的盘中价格计算,这笔交易价值约每股33.15美元,相当于整个公司670亿美元——那是在戴尔与EMC谈判的消息传出之前。但是,截至昨日纽约午盘,VMware股价下跌11%,拉低了该交易的整体价值。EMC股价上涨1.1%,至28.17美元。The unusual structure will enable Mr Dell, who owns about 70 per cent of the company he founded at the age of 19, to pull off an audacious buyout while retaining majority control of VMware, which will keep its listing. It comes just two years after he took Dell private in a controversial bn buyout.这种不同寻常的结构将使迈克尔戴尔得以在保留对VMware多数控股(使其保持上市)的情况下完成这笔大胆的收购。戴尔在19岁时创立戴尔公司(Dell),现在拥有该公司大约70%股份。两年前,他通过一笔有争议的250亿美元收购交易将戴尔公司收归私有。 /201510/403549

  Chinese search engine giant Baidu announced on Friday that its driverless car has finished road tests and succeeded in automatic driving in mixed road conditions.本周五,中国的搜索引擎巨头百度宣布,百度无人驾驶汽车已完成路测,成功实现混合路况下的全自动驾驶。The test vehicle left the Baidu building in Beijing Zhongguancun Science Park and drove to the Olympic Forest Park via the G7 Beijing-Urumqi highway and the Fifth Ring Road before returning via the same route.百度无人驾驶车从中关村软件园百度大厦附近出发,驶入G7京新高速公路,经五环路,抵达奥林匹克森林公园,随后按原路线返回。The vehicle reached a top speed of 100km/hr during the test, according to the company.Baidu said the test was completed with a driver in the car who would take control of the vehicle in case of emergency.据百度公司称,无人驾驶车在测试中最高时速达100公里。百度还说测试时车上有一名驾驶员,以防有紧急情况发生时能操控车辆。Launched in 2013, the company#39;s driverless car project is based on the core ;Baidu car brain; technology, which includes high-precision electronic mapping, positioning and decision-making systems.百度无人驾驶车项目于2013年起步,其技术核心是“百度汽车大脑”,包括高精度地图、定位、感知、智能决策与控制四大模块。;Automatic driving faces challenges in a variety of driving conditions such as bad weather and congestion,; said Wang Jin, senior vice president of Baidu.“自动驾驶汽车面临驾驶路况多样化的巨大挑战,比如恶劣天气和交通拥堵。” 百度高级副总裁王劲说。;It is a great challenge to test in Beijing, a city with so many complicated road conditions, but luckily we made it,; said Wang.他还说,“在北京这种复杂的路况上完成全自动驾驶,挑战尤其巨大,但幸运的是我们成功了。”Baidu announced its plan to develop a driverless car in June. It has previously worked on ;semi-autonomous; cars with German automaker BMW.百度公司于今年6月公布了它的无人驾驶汽车研发计划。百度之前已与德国宝马汽车公司合作,开发“辅助自动”驾驶汽车。The driverless car is scheduled to make its debut at the World Internet Conference in Wuzhen Township in east China#39;s Zhejiang Province from Dec.16 to 18.这款无人驾驶汽车计划在12月16日-18日在中国东部浙江乌镇的世界互联网大会上首次亮相。IT companies such as Google and Apple are working with auto manufacturers including Toyota and Tesla to develop their own driverless cars. In May 2014, Google presented a concept for a driverless car without a steering wheel or pedals and unveiled a fully functioning prototype in December of that year.像谷歌和苹果这样的互联网公司也正在与汽车制造商比如丰田、特斯拉合作,以研发他们自己的无人驾驶汽车。2014年5月,谷歌公司提出了一个无方向盘、无操作踏板的无人驾驶汽车概念,并于同年12月展示了一个完全自动驾驶汽车的原型。 /201512/416115The trick to successful fashion retail is exclusivity. Traditionally, large stores sought to entice shoppers by securing limited-edition colourways and shapes from their designers’ collections. Browse the websites of Net-A-Porter or Bergdorf Goodman and you’ll find countless mainline products proudly branded “Exclusively Ours!” But delivering something novel has become increasingly challenging in the current retail environment. With fashion being presented on the catwalk months before the clothes go on sale, everything is seen online or in print months before it arrives in store. By the time products drop, shoppers are often aly bored. So, to offer some element of surprise, retailers are now working directly with labels to produce one-off capsules and collaborations that sit outside the main seasonal calendar and are unseen anywhere until they arrive in store.行之有效的时装卖点就是突出其唯一性。一般说来,大店铺吸引买家的招数,就是强调其获得的是旗下设计师打造的特定颜色与外形的限量版时装。诸位浏览一下Net-A-Porter与波道夫古德曼(Bergdorf Goodman)的网店,就会发现数不胜数自我标榜“限量版”的主流时装。但在当前营销环境下,推出新奇款式可以说越来越难。时装上市前几个月就已在T型台上亮相,因此在实体店正式销售前好几个月,就早已在网络和时尚类杂志上“露脸”。待正式投放市场时,消费者往往已显“审美疲劳”。因此,为了达到某种出奇不意的效果,零售商们如今与品牌公司直接合作,推出一次性混搭系列与合作款式,这些时装并不参展各大时装秀,待实体店正式上架时才露出“庐山真面目”。In the past year, online and boutique retailer Matches Fashion has released more than 15 exclusive capsules, with brands ranging from established luxury groups such as Balenciaga and Nina Ricci, to cult young labels Mary Katrantzou and Marques’Almeida. “Exclusive collaborations are a powerful way for us to offer our customers a sense of discovery — either digitally or physically,” says Matches buying director Natalie Kingham. “We’ve found it particularly effective to work with brands on delivering collections at points in the season that aren’t always catered for, such as high summer exclusives in May and June, when the customer is looking for newness.” In today’s cluttered fashion landscape, finding something no one else has is the true luxury, and it’s this exclusivity that savvy shoppers seek.过去一年中,Matches Fashion网店与精品店推出了超过15款的限量版混搭装,从巴黎世家(Balenciaga)及莲娜丽姿(Nina Ricci)等知名品牌到玛丽愠祓灲婑(Mary Katrantzou)及麦奎斯奥美达(Marques’Almeida)等年轻人青睐的品牌,应有尽有。“无论是在网店还是实体店,稀缺版合推款式是满足消费者淘宝心态的有效方式。”Matches采购部负责人娜塔莉金厄姆(Natalie Kingham)说,“我们发现:与各时尚品牌在时装季空档期(如每年五、六月)推出盛夏限量版混搭款式后,市场效果非常好,因为此时消费者正到处淘寻新奇款式。”在如今群雄逐鹿的时装界,淘到限量版时装才算真正奢侈大气,而它们正是精明消费者苦苦追寻的爱物。Dover Street Market, Comme des Gar’ Rei Kawakubo’s concept store (which has spaces in London, Tokyo, New York and online) has always made exclusivity its point of difference, working closely with designers on pop-up installations, window displays and one-off products from day one. Today, its model is the norm but back when it opened in 2004, with stock that included an exclusive furniture collaboration with Hedi Slimane and a Lanvin collection made entirely in white, the practice was revolutionary. “We are simply interested in creating exclusive products whenever we can,” says Adrian Joffe, president of Comme des Gar International. “It could be a celebration, a collector’s item, or a capsule. The idea is to share the spirit of the store and work closely with our brands.”Comme des Gar创办人川久保玲(Rei Kawakubo)打造了时尚概念店“丹佛街集市”(Dover Street Market),一直推限量版时装作为自己的制胜法宝,它从一开始就与设计师们紧密协作,推出快闪版、橱窗展示版以及一次性款式时装。“丹佛街集市”如今在伦敦、东京、纽约以及网上都开设了门店。该模式如今大行其道,但2004年开业伊始,它实属开天辟地之举,当时上架的货品还有与艾迪斯理曼(Hedi Slimane)合作推出的限量版家具以及与朗万(Lanvin)合推的纯白色时装。“我们就是对推出限量款式乐此不疲,”Comme des Gar International总裁阿德里安约菲(Adrian Joffe)说。“合推款式既可能是周年庆版、藏家青睐款式,也可能是混搭系列款。我们的意图就是与拥趸共享门店之时尚精髓以及与各大时尚品牌紧密合作。”This notion of a collector’s item is central to the trend. All retailers want to make shoppers feel like their products have been created just for them. And retailers have realised that exclusivity can come from pushing prices. That’s the thinking behind Harrods’ current “Made with Love” campaign, a two-month promotion offering limited-edition products and bespoke personalised services. Harrods works with designers on special garments or one-off pieces which can be sold at higher price points than those brands usually occupy.推藏家青睐款式对于流行时尚极其重要。所有零售商都希望买家觉得所推时装只为其精心打造,而且所有零售商都认识到高价位可造就稀缺性。这正是哈罗德百货当前推出Made with Love活动的理念所在。这场历时2个月的促销活动推出了大量限量版时装以及提供个人定制版务。哈罗德百货与设计师合推专款式或一次性时装,其售价往往高于同类品牌的正常价位。London designer Alice Temperley was drawn to the project because of its focus on higher prices — for her pieces, around 10,000 (most stores want dresses within the 800 to 1,000 range). “We designed a small collection featuring three exclusive eveningwear designs for Harrods,” she says. “The high price point meant they were lovely to work on and not something that fitted in our y-to-wear plan.”伦敦设计师艾丽丝映伯丽(Alice Temperley)喜欢上了这种合作模式,原因是它专注于高价位————就她设计的款式而言,价位约为1万英镑(多数时尚门店理想的价位是800-1000英镑)。“我们专为哈罗德百货设计了由三套稀缺款晚装组成的小系列。”她说,“高售价意味着设计师在设计时身心愉悦,但它们并不包括在正常的成衣设计计划中。”Fellow London store Selfridges has made a niche of quirky themes and often invites designers to produce special items based around topics: “Agender”, for example, launched in March as a celebration of gender-neutral dressing, sparked much coverage in the fashion press — exactly as planned.哈罗德的同城竞争对手塞尔福里奇百货店(Selfridges)则专门细分出了以怪异款式为主题的专柜,并且时常邀请设计师就特定主题设计专款:比方说,今年三月推出了颂扬男女无差别装的“Agender(无性别)计划”,曾引发时尚媒体大肆报道,完全符合原先预期。For exclusive lines, such as high-street retailers’ collaboration with high-fashion labels, sales alone are not the end game: press attention and social media awareness are other important components. And the attention generated elevates the rest of their stock. Topshop has collaborated with designers from JW Anderson to Marques’Almeida, and Kendall and Kylie Jenner. “These exclusive collections allow us to capture the energy and aesthetic of the brands we are partnering with,” explains Mary Homer, managing director of Topshop.大型零售店与高端品牌合推限量版,销售并非最终目的:平面媒体关注度与社交媒体认可度也是重要参考因素。更高关注度会进一步促进店铺其它产品的销售。Topshop与设计师(从J德森(JW Anderson)到麦奎斯奥美达(Marques’Almeida))及名模肯达尔(Kendall Jenner)与凯丽礠娜(Kylie Jenner)进行了全面合作。“限量版可以让我们乘势获得合作品牌的市场影响力以及借鉴其时尚风格。”Topshop总经理玛丽霍默(Mary Homer)如是解释道。When Matches Fashion teamed up with Mary Katrantzou this spring to launch a 26-piece set of handbags (575 each) each marked with a letter of the alphabet, it made sure to utilise her social media presence — she has 264,000 followers on Instagram alone. Alongside the release, it hosted six events across London, LA and Dallas and encouraged attendees to share their “initial” online. The project reached 40m unique users and most of the alphabet had to be reordered within 24 hours.Matches Fashion与玛丽愠祓灲婑今春合作推出了26种款式构成的手袋系列(每件标价575英镑,每款标识各对应字母表中的一个字母),这无疑利用了玛丽愠祓灲婑葩社交媒体影响力————她光在Instagram上的粉丝数就达26.4万。除发布会外,Matches Fashion还在伦敦、洛杉矶以及达拉斯举办了六场造势活动,鼓励参与者分享首次网购该系列手袋的心得体会。这项活动吸引了4000万用户参与,不到24个小时,大多数字母对应的手袋不得不再次订货。But while the stores benefit, keeping up with the demand for such products can be tough on designers, especially when it comes to production. Temperley admits, “When you aly work on about 500 items a year it’s a lot of extra work, and when working with small units you have to bend suppliers’ arms.”但是,尽管各大门店从中大获其利,但时刻满足拥趸对此类产品的需求对于设计师来说是个挑战,尤以生产环节为甚。坦伯丽坦承:“每年推出大约500种款式时,我们就得大量加班加点;因此与小型生产商合作时,就得想方设法讨好对方。”Often it’s young designers who get hit the hardest. Big retailers will sometimes demand a one-off piece, such as an exclusive T-shirt, but fail to place an order on the designer’s mainline collection, thus capitalising on the buzz of the brand without truly investing.通常说来,年轻设计师承受的压力最大。大型零售商有时需要设计师设计一次性款式(如某款限量版T恤),但并不订购其主流系列,从而在不费真金白银的情况下利用了该品牌的市场影响力。“Some retailers would only take on a collection if they could have a separate piece of their own,” says Dominic Jones, who struggled with retailers’ demands when starting his high-fashion jewellery line in 2009. “I also experienced a relentless pressure to sign sale-or-return deals or offer ‘trade discounts’. They knew, as a young designer, it was good for me to sell with them.”“有些零售商接纳设计师主流时装的前提条件是先给其另外设计专款。”英国设计师多米尼克琼斯(Dominic Jones)说。2009年,他着手设计自己的高端首饰系列时,不得不设法满足零售商的要求。“我因与零售商签下剩货保退协议以及给予批发价优惠而承受了巨大压力。零售商清楚:借助自己的销售渠道大大利于年轻设计师。”“Typically, at Matches, the cost structure works in the same way as buying the designers’ mainline collection,” says Kingham — in other words, designers cover the production charges while the retailer pays wholesale price for the item and profits from the price hike at retail. Dover Street’s arrangement is less fixed. “It’s a case-by-case situation. We often assist with costs,” says Adrian Joffe.“在Matches网店,通常情况下,合作款的成本运作模式与购买该设计师的主流产品一模一样。”金厄姆说————换言之,设计师负担生产费用,而零售商以批发价进货,其利润来自零售环节的溢价。伦敦多佛街(Dover Street)的门店与设计师之间签订浮动性协议。“协议视具体情况而定,我们通常在费用上给予一定让利。”阿德里安约菲说。Retailers are adamant that the benefits of agreeing to do exclusives outweigh the disadvantages for designers. For Kingham, successful partnerships work when the designer is willing to listen and shape a product around shoppers’ needs: “Something that combines the DNA of the brand with our knowledge of our customer. We have our in-house content, communication and event team who can support the global outreach of the project,” she adds.零售商坚持认为:推限量版时装对于设计师来说利大于弊。在金厄姆看来,当设计师愿意倾听、并根据消费者需求设计时,一种成功的合作关系就建立了:“合推的时装要兼顾品牌时尚精髓与客户特殊需求。我们公司有负责设计内容、沟通以及宣传的团队,能帮助全球市场的推广。”她又补充道。Likewise, Joffe insists communication is key. Just as the market is aly saturated with product, too many exclusives can be time-consuming and costly. There’s no point collaborating for the sake of it, or tapping a designer for a range without having a relationship. Is there a trick? “Good, desirable product, not random gratuitous co-branding,” he says. You heard it here, exclusively.约菲也强调良好的沟通是成功的关键。由于市场已呈饱和状态,推出过多限量版时装既费工又费钱。只是为合作而合作、或是让并无合作关系的设计师来打造限量版毫无意义。那么合作款是个骗局呢?“必须得推出称心如意的时装,而不是心血来潮、无由头的合作品牌。”他说。诸位听明白了吗?得是限量版。Case study: Matches x Y-3个案研究:Matches与Y-3Matches’ collaboration with Adidas’s Y-3 on a capsule range featuring ink drawings by designer Yohji Yamamoto went on sale in Paris in June during men’s fashion week.Matches与阿迪达斯(Adidas) Y-3品牌合作推出了混搭系列,上面画有设计师山本耀司(Yohji Yamamoto)创作的墨水画,该系列在今年六月的巴黎男装周期间公开发售。“Our menswear business has doubled in the past year and there’s an ever-increasing appetite for product,” says Damien Paul, head of menswear at Matches, who says men now account for 30 per cent of its business. “Exclusives are often a way of developing a relationship with a brand that we’re seeing a great reaction to. Our business with Y-3 has tripled over the past two years. Pieces were selling out within 24 hours and we frequently have waiting lists for the sneakers. This felt very relevant for us — especially as Yohji was so directly involved.”“过去一年,我们的男装销售额翻了一倍,而且需求与日俱增。”Matches男装部主管达明保罗(Damien Paul)说。他说如今男装销售额占到了公司总销售额的30%。“推限量版时装是与热门品牌建立良好关系的途径。过去两年里,我们与Y-3合推的男装销售额翻了3倍。产品上架不到24小时,就已售完。而且我们的运动鞋订单源源不断,我们感觉意义非凡——尤其是山本耀司亲自参与设计。”Case study: Net-a-Porter x Chanel个案研究2:Net-a-Porter与香奈儿(Chanel )的合作Chanel made its e-commerce debut in April with an exclusive jewellery line for Net-a-Porter. The “Coco Crush” range featured just six designs — a cuff and five rings — priced between 1,400 and 13,500. In return for the debut, Net-a-Porter’s tech-team created a digital pop-up shop that mimicked the aesthetic of a Chanel boutique.今年4月,香奈儿首次试水电商,在Net-a-Porter上销售其限量版珠宝系列“Coco Crush”。该系列只推出了6款首饰——一款手镯与五款戒指,定价介于1400英镑-1.35万英镑之间。作为回报,Net-a-Porter的技术团队专门在网上创建了一家模仿香奈儿精品店时尚风格的快闪店(pop-up shop)。The benefits? Chanel got to experiment with e-commerce and capture some online data, while Net-a-Porter landed the coup of being Chanel’s first etailer — and lots of press. “We felt the exclusive married Net’s pioneering technology within the luxury retail space, along with Chanel’s chic and timeless style,” says jewellery buyer Sophie Quy. “It was a dream partnership and, needless to say, our customers absolutely loved it.”好处呢?香奈儿开始试水电商并获取相关网购数据,而Net-a-Porter也有幸成为香奈儿的首家电子零售代理商并且获得媒体的广泛关注。“我们认为:香奈儿的限量版首饰、连同香奈儿的新潮和隽永时尚风格与Net-a-Porter的前沿科技在奢侈品零售环节成功实现了联姻。”高档珠宝买手索菲盖伊(Sophie Quy)说。“两者的合作可谓珠联璧合,不用说,我们的客户为此也欣喜若狂。”Case study: Dover Street Market个案研究3:“丹佛街集市”Dover Street Market (DSM) proved itself the original master of the innovative exclusive by getting a “who’s who” of fashion to produce one-off items to celebrate the store’s 10th anniversary last year. Among the items were a Nike tennis sneaker featuring the DSM logo and a Giambattista Valli limited-edition bag.去年,“丹佛街集市”(DSM)用推出一次性时装来庆祝自己的10周年店庆,从而有力明了自己就是限量版时装的原创者。在推出的诸多协作款中,就包括了带有“丹佛街集市”标识的一款耐克网球鞋以及一款詹巴蒂斯塔瓦莉(Giambattista Valli)的限量版手包。Simone Rocha, who offered two silver brogue designs, says it was her opportunity to thank the retailer for its continued support. “It was a special milestone for them and for me because I’m a part of the store. It was like my birthday present to them,” she says. Being smart with quantities allowed her to budget for such an undertaking. “We have only ever done a small run of special limited editions, so our team works with our factories to see if we can push it through with our regular schedule.”推出两款银灰色布洛克鞋的西蒙娜圠蹿(Simone Rocha)说自己得借此机会感谢零售商一如既往的持。“对于双方都是里程碑式的纪念意义,因为我如今俨然成了零售店的共同体。这就好比是自己送给对方的店庆礼物。”她说。正是科学统筹生产数量,自己才能合理安排、顺利交工。“我们只是推了几个限量版,所以我们的设计团队与厂家协商,看看是否能在正常生产周期中赶完这批活。” /201510/402736If all proceeds as planned, the world’s biggest animal cloning center will open next year in the northeastern Chinese port city of Tianjin, taking factory farming to a new level.如果一切按计划进行,世界上最大的动物克隆中心将于明年在中国北方的港口城市天津开业,将工厂化农业提升到一个新水平。The center, being built by Boyalife Group, a Chinese biotechnology company, and Sooam Biotech, a South Korean company that specializes in animal cloning, will eventually churn out up to a million beef cattle embryos a year, as well as sniffer dogs, racehorses and other animals, its backers say. When completed, at a projected cost of 0 million, it will include a research laboratory, a gene bank and a museum.该中心是由中国生物技术公司雅控股集团(Boyalife Group)和专门从事动物克隆的韩国秀岩生命工学研究院(Sooam Biotech)兴建。它的投资者说,该中心最终能一年大量生产出上百万个肉牛胚胎,以及嗅探犬、赛马和其他动物。这个预计花费5亿美元(约32亿元人民币)兴建的中心落成后,内部的设施将包括研究实验室、基因库和物馆各一个。Public education appeared to be a concern of Xu Xiaochun, Boyalife’s chief executive, during a conference call with journalists on Thursday, in which he sought to quell anxieties over the technology.在周四与记者的电话会议中,雅控股首席执行官许晓椿似乎对公众教育相当重视。他试图平息公众对这项技术的各种焦虑。“Clone technology is aly around us,” Mr. Xu said. “It’s just that not everyone knows about it.” He added that many strawberries and bananas sold in Chinese supermarkets were the products of this technology.“克隆技术已经在我们日常生活当中,”许晓椿说。 “只是不是每个人都知道这件事。”他补充说,许多在中国超市出售的草莓和香蕉都是这项技术的产品。The process, he said, is just like “pouring a glass of orange juice into another empty glass,” meaning the cloned entity will be identical to the original.他说,克隆过程就像“将一杯橙汁倒到另一个空杯子里”,也就是说克隆体将与原体毫无区别。“And I call tell you all that cloned beef is the tastiest beef I have ever had,” he said.他说:“我想告诉你们的是,克隆牛肉是我吃过最美味的牛肉”But Mr. Xu must contend with skeptical consumers in China, where food safety is a near obsession after scandals like melamine-tainted baby formula and recycled industrial “gutter oil.” Online reaction to the project has been overwhelmingly negative.但是,许晓椿必须努力说持怀疑态度的中国消费者。当婴儿配方奶粉被三聚氰胺污染、“地沟油”被回收使用等丑闻传出后,他们对食品安全异常关注。网上对项目的反应一直是非常负面的态度。“Crazily evil!!!” commented the user No-Music-No-Life on Weibo.微用户No-Music-No-Life说:“邪恶到疯狂!!!”。A person with the handle Xingchen Miaoyu wrote, “Please serve cloned beef to leaders first!”微网名为“星尘喵语”的用户写道,“请先让领袖尝尝克隆牛肉!”A commenter with the user name Zhenwei Shusheng added, “China has become a major biotech research lab and Chinese are the experimental subjects.”微用户“真伪书生”补充道:“你国就是一个全球大型生物实验基地。你国人就是实验品。”Others questioned the decision to build such a plant in Tianjin, the site of a deadly chemical explosion in August that killed 173, fearing lax law enforcement could compound an aly complicated issue.其他人质疑将这样一个工厂建立在天津的决定。天津在8月发生了一场致命的化学爆炸,导致173人死亡。他们担心执法不严可能加剧本已复杂的问题。“The real-life version of ‘Resident Evil’?” asked the Weibo user Li Li, referring to the science-fiction film series that features a bioengineering company that produces bioweapons.微用户“李理64025”问道:“现实版‘生化危机’吗?”他指的是一个科幻电影系列,情节涉及一家生产生化武器的生物工程公司。The undertaking has also been clouded by a scandal that embroiled the head of the South Korean partner, Hwang Woo-suk. In 2005, Dr. Hwang was found to have fabricated research that he had claimed used cloning to produce human embryos and extract stem cells from them.该项目也因另一个原因而蒙上了阴影,因为韩国合作伙伴的负责人黄禹锡(Hwang Woo-suk)有丑闻缠身。2005年,黄禹锡被揭捏造研究,他声称利用了克隆技术制造人类胚胎并从中提取干细胞。But he has since focused his attention on animal cloning. His company worked with Boyalife to develop a rare Tibetan mastiff last year with a hefty price.但他从那时开始,他就专注于动物克隆。去年,其公司与雅合作,投入巨资培养了一种罕见的纯种藏獒。Beijing has watched with both envy and caution since the first cloned mammal, Dolly, a sheep, was born in Scotland in 1996. Since then, Chinese scientists have cloned cows and pigs, but they have largely limited such activities to experimental purposes.北京对此既羡慕又谨慎,因为在1996年,首只克隆哺乳动物,绵羊多莉(Dolly),在苏格兰出生。从那时起,中国科学家克隆了牛和猪,但这种活动很大程度只限于实验目的。Cloning is used in some farm animal breeding programs in the ed States, but in September, the European Parliament voted in favor of a ban on cloned animals and their products, arguing that current techniques inflict greater suffering on animals than conventional breeding.在美国,克隆技术用于一些农场动物的育种计划。但在9月,欧洲议会投票赞成了一项针对克隆动物及销售克隆动物产品的禁令,因为目前的技术,会比常规育种对动物造成更大的痛苦。Zhu Yi, an associate professor at China Agricultural University, said that cloning technology could help China reduce its reliance on cattle imports to meet its people’s rising demand for beef. “But long term, this is not a solution,” she warned, emphasizing the need to assess the risks of using such technology and to overhaul China’s livestock industry.中国农业大学副教授朱毅说,克隆技术可以帮助中国减少对牛进口的依赖,满足人们对牛肉日益上升的需求。她警告说,“但长期来看,这不是一个解决方法。”她还强调,需要评估使用这种技术的风险,也需要改革中国的畜牧业。The high costs of grain for feed and other items have squeezed profits for many Chinese cattle breeders and have depressed production, forcing a number of meat processors to turn to imports.饲料及其他项目成本高昂,挤压了许多中国养牛者的利润,也减少了产物,迫使一些肉类加工商转而使用进口牛肉。That situation presented an opportunity for Mr. Xu, who said he hoped cloning would help improve livestock production within China.这种情况对许晓椿来说是个机会,他说希望克隆技术将有助提高中国国内畜牧业产量。“One reason we have so much low-quality beef is because we haven’t applied clone technology,” Mr. Xu said. “This is the only way to allow Chinese and many other people in the world to enjoy high-quality beef in an efficient manner.”“我们有这么多的低质量牛肉的原因之一是还没有应用克隆技术,”许晓椿说。“这是让中国人和世界上的其他其他的人,能够以高效地享用高品质牛肉的唯一途径。”Before bringing cloned beef to the market, Mr. Xu said, his company must receive the approval of the Ministry of Agriculture and other government agencies. He did not elaborate. The ministry did not immediately reply to a faxed request for comment.许晓椿说,把克隆牛肉带进市场前,该公司必须先获得农业部及其他政府机构的批准。他没有详细说明。该部门并没有对传真过去的置评请求立即作出回复。Ma Wenfeng, an analyst at Beijing Orient Agribusiness Consultant, raised doubts over this approach for mass-producing beef. “I think clone technology can be used for endangered species, but it’s not very necessary for animal husbandry,” he said. “I don’t think this will be very economical, and I doubt this model will take off any time soon”.北京东方艾格农业咨询公司分析师马文峰,对于以此种方式大量生产牛肉表示怀疑。“我认为克隆技术可用于濒危物种,但对于畜牧业则不是非常必要的,”他说。“我不认为这样做很经济,而且我怀疑这种模式在可预见的未来能否推广开来。”On Thursday, Mr. Xu said the venture had aims beyond just profits. “Our priority is to do a good job,” he said, “so we’ll achieve greater social influence.”周四,许晓椿表示,合资公司的目的不仅仅是利润。 “我们的首要任务是要把这做好,”他说,“这样我们会获得更大的社会影响力。” /201511/412697

  The London Taxi Company has set out its vision of the future for the black cab and it involves green technology, exports to cities across the world and dedicated taxi apps.伦敦出租车公司(London Taxi Company)已经为其黑色出租车规划了未来前景,包括绿色科技、出口到世界各地的城市以及专门的打车应用。The existing TX4 taxi is a cherished symbol of London but is seen by some as a noisy, smelly monstrosity with an iron-hard suspension. It sells for about #163;37,000, including value added tax — more than the on-the-road price of a Mercedes E-Class.现有的TX4出租车是伦敦珍视的标志,但在一些人看来,它是个发出巨大噪音、散发浓重臭气的怪物,悬挂系统也硬得要命。它的售价约为3.7万英镑(包含增值税),超过了梅赛德斯-奔驰(Mercedes-Benz)E级轿车的上路价。Geely, the Chinese owner of the London Taxi Company, wants the next-generation Hackney cab to turn that perception round by introducing electric taxis with aluminium bodies that will have sufficient battery power to travel from Piccadilly Circus to Piccadilly railway station in Manchester.伦敦出租车公司的中国东家吉利(Geely)希望下一代哈克尼(Hackney)出租车能扭转这种印象。新款车型为铝制车身电动车,拥有足够从伦敦皮卡迪利圆环(Piccadilly Circus)跑到曼彻斯特皮卡迪利火车站的电池续航能力。Li Shufu, chairman of Geely, said the latest cabs would be the “most technologically advanced taxis the world has ever seen and, crucially, they will be the greenest ever”.吉利董事长李书福称,最新款出租车将是“有史以来全世界技术最先进的出租车,而且关键的是,它们还将是最环保的”。The new taxi, called the TX5, will be built in Coventry after Geely announced on Thursday the largest Chinese automotive investment in the UK — a #163;250m factory on the outskirts of the city.上周,吉利宣布了中国汽车制造商在英国最大的一笔汽车业投资——在考文垂市郊投资2.5亿英镑建一家工厂——用于生产这款被称为TX5的新出租车。The TX5 will go into production in 2017 in time for new rules the year after limiting taxi emissions in London. The capital is introducing an ultra low emissions zone in the congestion charging area, which was also confirmed on Thursday.TX5将于2017年投产,恰好赶在伦敦限制出租车排放的新规次年实施之前。伦敦即将在拥堵收费区域划定一个超低排放区的消息,也在近日被实。The vehicle — yet to be unveiled but said to be “instantly recognisable” as a London taxi — will feature a 400kg battery that can be recharged on the move by a small petrol engine. The TX5 has been designed with Emerald Automotive, the Coventry-based electric van maker Geely acquired last year.这款车虽然尚未亮相,但据称将能让人“一眼看出来”它是伦敦出租车。车上将配置一块400公斤重的电池,可以在行驶中由一个小型汽油发动机充电。TX5由位于考文垂的电动货车生产商Emerald Automotive设计,吉利去年收购了这家公司。David Bailey, of Aston Business School, said this highlighted the region’s particular expertise in low-carbon vehicles and engineering. “It has emerged as something as a ‘phoenix industry’ from the ashes of mass manufacturing,” he said.阿斯顿大学商学院(Aston Business School)的戴维#8226;贝利(David Bailey)说,这突出了这一地区在低碳汽车和机械方面的专长。“这一行业已经从大规模制造业的废墟中‘涅槃而生’,”他说。The new investment is the latest in a string of triumphs for the Midlands. Aly this week HS has announced Birmingham as the home of its newly separated retail and commercial bank, while Jaguar Land Rover has laid out plans to expand its Coventry head-quarters and invest in a plant in Birmingham.这笔新投资是英格兰中部地区(Midlands)一连串成功的最新亮点。汇丰(HS)近日已宣布,将把新分离出来的那家零售和商业的总部设在伯明翰,而捷豹路虎(Jaguar Land Rover)已制定计划,将扩大在考文垂的总部并在伯明翰投资一家工厂。Geely said its investment would create 1,000 jobs by 2023, but it faces a fight to secure the engineers it needs. “We are scraping the barrel in terms of local talent because JLR is hiring like mad,” said Carl-Peter Forster, the former head of JLR who is now chairman of the London Taxi Company.吉利表示,它的投资到2023年将创造1000个就业岗位,但它面临一场招募所需工程师的“抢人大战”。“我们正在想尽一切办法招揽本地人才,因为捷豹路虎也在疯狂招人,”捷豹路虎前负责人、现任伦敦出租车公司董事长的卡尔-彼得#8226;福斯特(Carl-Peter Forster)说。Still, Geely’s announcement marks the beginnings of a turnround for the company, formerly known as Manganese Bronze. Hangzhou-based Geely, which also owns Swedish carmaker Volvo, bought the perennially loss-making taxi maker out of administration in 2013.而且,吉利的声明标志着伦敦出租车公司开始扭亏为盈,该公司的前身是锰铜控股(Manganese Bronze)。总部位于中国杭州的吉利在2013年收购了这家常年亏损的出租车制造商。吉利还是瑞典汽车制造商沃尔沃(Volvo)的东家。The plan is for the new factory to be producing 36,000 vehicles a year by 2023, with about 80 per cent of the cabs to be exported. An existing plant in Coventry produces about 1,500 vehicles for the UK, with a facility in Shanghai producing a similar amount for export to countries including Australia, Azerbaijan and the Gulf states.新工厂计划到2023年实现年产3.6万辆汽车,其中约80%的出租车用于出口。考文垂现有的工厂每年仅能生产约1500辆汽车,全部供应英国市场,而位于上海的一家工厂每年也能生产类似这个数量的汽车,用于出口到澳大利亚、阿塞拜疆及海湾国家。Geely also said it was working with software developers to find ways of countering the threat posed by the likes of Uber, the fast-growing app that allows passengers to hail the company’s cabs from their smartphones.吉利还表示,它正在与软件开发公司合作,寻找方法应对优步(Uber)等叫车应用带来的威胁。优步是一款成长迅速的应用,可以让乘客通过自己的智能手机叫到该公司的出租车。“We regularly have discussions as to how to flexibly handle and deal with the impacts delivered by the emergence of so many cab-hailing apps,” said Mr Li.“我们经常讨论如何灵活处理并应对如此多打车应用的出现带来的冲击,”李书福说。Asked if Geely was interested in introducing a rival ride-hailing app, Mr Li said: “Yes indeed. Currently we are having some discussion as to whether we can work with some of the app developers for devising something that we will value very, very much.”当被问到吉利是否有兴趣引入一款打车应用参与竞争时,李书福说:“确实有。目前,我们正在讨论是否可以与一些应用开发公司合作,设计出一款能为我们带来巨大价值的应用”。 /201503/367259Western carmakers are facing competition in China from the sale of their own imported vehicles from the US, as “parallel imports” provide a new challenge in the world’s largest auto market.西方汽车制造商在中国正面临进口自美国的它们自己所产的汽车的竞争,“平行进口”在全球最大汽车市场带来新的挑战。New rules from Shanghai’s fledgling free trade zone, issued last week, formally legalise the sale of cars that manufacturers originally intended to sell in the US and other markets — allowing buyers to receive discounts of about 20 per cent.成立不久的上海自贸区上周公布新的规定,正式使在华销售制造商原本打算在美国及其他市场售卖的汽车合法化,使买家可以享受约20%的折扣。Last year, Chinese competition regulators forced many foreign carmakers to lower the cost of their vehicles, spare parts and services during a probe of allegedly anti-competitive behaviour. Chinese car dealers have also demanded greater financial support from their suppliers.去年,中国竞争监管机构在针对涉嫌垄断行为的调查中,迫使许多外国汽车制造商降低汽车、零配件和务成本。中国汽车经销商也要求供应商给予更多财务上的持。Now the emergence of parallel import markets is putting even greater price pressure on multinational carmakers, especially premium European brands.现在,平行进口市场的出现正为跨国汽车制造商带来更大的价格压力,尤其是高端的欧洲品牌。Large price differentials for brands sold via manufacturers’ official dealer networks in the US and China create an arbitrage opportunity across the Pacific. Middlemen are buying cars in the US and shipping them to unauthorised dealers in China in increasing numbers.通过制造商在美国和中国的官方经销商网络销售的同一品牌的汽车的售价差别巨大,在太平洋两岸之间制造了一个套利机会。越来越多的中间商在美国购买汽车,然后将其发运至未经授权的中国经销商。At China’s largest market for parallel imports, in the port city of Tianjin, an Audi Q7 sport utility vehicle imported from the US was on sale last week for Rmb660,000 (6,000) — 20 per cent cheaper than the Rmb828,000 charged by the German manufacturer’s authorised China dealerships. In the US, Audi’s suggested retail prices for the Q7 start at just ,300, or Rmb299,000.在中国最大的平行进口汽车市场——港口城市天津,一辆从美国进口的奥迪(Audi) Q7运动型多功能车(SUV)上周的售价是66万元人民币(合10.6万美元),比这家德国制造商授权的中国经销商82.8万元人民币的售价便宜20%。在美国,奥迪Q7的建议零售价起步仅为4.83万美元,即29.9万元人民币。Carmakers are fighting back against this latest threat to their largest and most profitable market, prohibiting their US dealers from selling cars to people who they suspect intend to export the vehicles to China. But once arbitrageurs have obtained a car in the US, it is legal for them to ship it abroad.汽车制造商正在他们最大、利润最丰厚的市场回击这个最新威胁,禁止各自的美国经销商把车卖给那些他们怀疑打算向中国出口汽车的人。但是如果套利者在美国购得一辆汽车,他们将车运往国外是合法的。“The [carmakers] have lost the battle on the Chinese side,” said Max Warburton, an analyst at Bernstein Research. “On the US side they are throwing everything they can think of at it.”伯恩斯坦研究公司(Bernstein Research)分析师马克斯#8226;沃伯顿(Max Warburton)说:“(制造商)在中国已败下阵来。在美国,他们正想尽一切办法来应对。” /201501/355269



  Every parent knows the biological intoxication — at least for a few weeks — of having your first child. That, plus living in California and being a technology idealist, may account for the somewhat sappy tone of Mark Zuckerberg’s letter this week to his new daughter Max, in which he announced that he will devote 99 per cent of his bn wealth to good works.父母在迎来第一个宝宝时都会感受到一种生物性的兴奋——至少头几个星期如此。这种初为人父的喜悦,加上住在加利福尼亚州,再加上身为一个科技理想主义者,或许能解释为什么马克丠克伯格(Mark Zuckerberg)会在本周给他才出生的女儿麦克斯(Max)写下那封充满温情的信,在信中他宣布将把自己450亿美元的财富捐出99%给慈善事业。The Facebook founder’s pledge, with his wife Priscilla Chan, of “a moral responsibility to all children in the next generation” is no doubt deeply felt and genuine. It also has a coolly rational outcome — that he can demerge two things that have been mixed up in a single corporate structure: Facebook and philanthropy. The “social mission” he declared at Facebook when it went public in 2012 now has another outlet.这位Facebook创始人与他的妻子普莉希拉陈(Priscilla Chan)许诺要“对下一代所有孩子肩负起道义上的责任”,夫妻二人这份承诺无疑是由衷和真情实意的。他们的承诺还会带来一个理性的结果,扎克伯格可以将一直混合在一个企业架构里的两件事——Facebook和慈善事业分离开来。2012年Facebook上市时,扎克伯格在Facebook上宣称的“社会使命”现在有了另一个实现途径。Warren Buffett has no higher social purpose for Berkshire Hathaway than achieving strong returns for shareholders; nor did Bill Gates for Microsoft when he was running it. The bn Bill amp; Melinda Gates Foundation, to which Mr Buffett has promised to donate much of his wealth, is their main vehicle for venture philanthropy, impact investing, or call it what you will. Like Sergey Brin and Larry Page, Google’s founders, Mr Zuckerberg has until now combined running a corporation, investing in offbeat ideas and making the world a better place. His letter to investors in Facebook’s initial public offering was more sober than this week’s missive but shared some of the same idealism, with its talk of creating “more direct empowerment of people”.沃伦巴菲特(Warren Buffett)对伯克希尔哈撒韦公司(Berkshire Hathaway)抱有强烈的社会目的,但他同样强烈地想为股东实现丰厚回报。比尔盖茨(Bill Gates)在执掌微软(Microsoft)期间也是如此。他们进行公益创投或影响力投资(或随便你怎么叫)的主要工具是比尔及梅琳达盖茨基金会(Bill-Melinda Gates Foundation),该基金会拥有多达410亿美元资金,巴菲特也承诺要将大部分财产捐赠给这个基金会。扎克伯克此前也与谷歌(Google)创始人谢尔盖布林(Sergey Brin)和拉里椠奇(Larry Page)一样,将经营企业、投资另类创意以及让世界变得更美好的抱负混合在一起。他在Facebook首次公开发行(IPO)时给投资者的信比本周给女儿的这封信更严肃冷静,但两封信在理想主义方面有一些共同之处,前一封中谈到要“让民众享有更直接的权力”。Mr Page unveiled his unbundling in August by placing Google under Alphabet, a holding company that will take “moonshot” bets on new ventures such as high-altitude balloons to sp internet access to poor countries and remote areas. They are long-term investments of the kind Mr Zuckerberg’s new venture can make, although Alphabet is not philanthropic.佩奇在8月公布了他的分拆计划,将谷歌纳入控股公司Alphabet旗下,后者将把对“登月”计划的投资延伸到新的风险项目上,比如发射高空气球向贫穷国家及偏远地区提供互联网接入务。扎克伯格的新公司想做的可能也正是这类长期投资项目,虽然Alphabet不是慈善机构。The Chan Zuckerberg Initiative — the quaint title for their joint venture, which will seek profits as well as making donations — goes a step further. The Chan-Zuckerbergs will attempt to “advance human potential” and promote social equality with measures that will include “long-term investments over 25, 50 or even 100 years”.“陈-扎克伯格行动”(Chan Zuckerberg Initiative)——他们为这一联合经营公司起了个古朴的名字——则更进了一步,该公司在进行捐赠的同时也会追求利润。陈-扎克伯格行动将尝试“提高人类潜能”,促进社会平等,其手段包括进行“长达25年、50年甚至100年的长期投资”。This is a simpler way to aim at such outcomes than including them as an ancillary target for a company that is focused on other things, whether social networking or search. An ambitious ethical stance is bound to make investors uneasy because they do not know what it involves — does linking communities mean manufacturing mobile phones or drilling a tunnel through the centre of the earth? Facebook’s mission will no doubt stay in place but this takes the pressure off. Mr Zuckerberg has been wooing China — learning the language and making frequent visits — although his IPO letter included a call for “more accountability for officials,” which probably goes down badly there. Dividing Zuckerberg the chief executive from Zuckerberg the political idealist may help.对于一间专营其他业务(无论是社交网络还是搜索引擎),但想实现上述目标的公司来说,比起将这些目标列为公司的附带目标,这是一种更简单的办法。在道德上摆出雄心勃勃的姿态必定会让投资者感到不安,因为他们不知道这代表着什么,使人们互联是意味着制造手机呢,还是在地球中心打通一条隧道?Facebook的使命无疑不会改变,但这样做能消除压力。扎克伯格一直在争取中国市场,包括学习中文,频繁访华等,但他在IPO公开信中所呼吁的“官员应肩负起更多责任”,在那儿可能不会引起多澜。如果扎克伯格能将他的首席执行官身份和政治理想主义者身份分割开来,可能会有帮助。While separating public company from private philanthropy brings greater clarity and freedom of manoeuvre to both, it does not make the latter either simple or cheap. Mr Zuckerberg’s aside to his daughter that he knows bn “is a small contribution” to changing the world s like a billionaire’s false humility, but he is right.将上市公司与私人慈善事业分离,可以为二者带来更大的清晰度以及自由运作空间,而且并不会令后者变得更简单或者更廉价。扎克伯格在对女儿的温情告白中说他知道450亿美元对改变世界来说“只是一笔小小的捐款”,这话听来好像一个亿万富翁的假谦虚,但他说得没错。In some ways, Mr Zuckerberg is following Andrew Carnegie, the steel magnate, who founded a network of 1,700 public libraries in the US. Carnegie argued in his essay, “The Gospel of Wealth” (1889), that industrialists should “busy themselves in organising benefactions from which the masses of their fellows will derive lasting advantage,” rather than leaving their money to their children.在某些方面,扎克伯格正在效仿钢铁大王安德鲁愠蕓基(Andrew Carnegie),后者在美国建立了1700家公共图书馆。卡内基在《财富的福音》(The Gospel of Wealth, 1889年)一文中写道,实业家应该“让自己忙于组织慈善活动,让广大同胞都能从中获得持久的优势”,而非将财富留给自己的孩子。The Chan-Zuckerbergs’ worries about inequality mirror those of Carnegie, who observed “the contrast between the palace of the millionaire and the cottage of the labourer” in the age of US industrialisation. He concluded of capitalism: “It is here; we cannot evade it; no substitutes have been found; and while the law may be sometimes hard for the individual, it is best for the race.”扎克伯格夫妇对不平等的担忧与卡内基类似,后者看到的是美国工业化时代“百万富翁的豪宅与工人陋室之间的反差”。他对资本主义的结论是:“资本主义就在我们身边:我们无法逃避;还没有找到任何替代模式;虽然这种法则有时可能对个人显得残酷,但它对整个民族而言是最好的。”They have set themselves a more complex task than Carnegie faced a century ago — namely, to find innovative ways of addressing intractable global issues. Darren Walker, president of the Ford Foundation, wrote recently that Carnegie’s wealth was “a pittance in comparison with the world’s trillions of dollars of needs for food and housing, education, infrastructure and healthcare” (even if the foundation bearing his name is still making inroads into them).扎克伯格夫妇为自己设定的任务比卡内基一个世纪前所面临的更加复杂——找到创新的方式解决难以应对的全球性问题。福特基金会(Ford Foundation)主席达伦茠克(Darren Walker)最近写道:卡内基的财富“与全世界对食物、住房、教育、基础设施及医疗保健的巨大需求相比只是杯水车薪”(即使以他的名字命名的基金会仍在为此进行努力)。Solving what Mr Zuckerberg tells Max will be “the biggest opportunities and problems your generation will face” is another order of challenge to managing Facebook. “The new generation of philanthropists wants to believe there is a clever ‘hack’ for every problem,” Sean Parker, the entrepreneur and former Facebook executive, wrote in June. For some problems, there is not.解决扎克伯格对女儿麦克斯所说的“你们这代人面临的最大机遇与问题”是有别于管理Facebook的另一层次的挑战。“新一代的慈善家愿意相信,每一个问题都有一种聪明的‘破解办法’,”Facebook前高管、创业家肖恩帕克(Sean Parker)6月时写道。对一些问题而言,没有这样的办法。Mr Zuckerberg has clearly learnt lessons from his 0m donation in 2010 to support reform of New Jersey schools, which soon ran into difficulty. Changing societies requires more time, more money and greater willingness to suffer frustration than launching a new product. It is hard enough for one organisation to do one, let alone both.2010年,扎克伯格为持新泽西州的学校改革捐赠了1亿美元,但改革很快陷入困境。很显然,他已经从中吸取教训。比起推出新产品,要改变社会,需要更多时间、更多资金以及更大的承受挫折的意愿。对一个组织而言,做其中任一件事都已相当艰难,更遑论两件了。When Max grows up, her mother and father can teach her about that.麦克斯长大后,父母可以向她传授这方面的经验。 /201512/414580

  Hi-Tech Fabric Charges Devices On The Run - Literally!衣化身充电器Over the past few years, researchers have come up with many innovative ways to use human kinetic energy - from powering soccer fields to playgrounds and classroom lights. Now some scientists want to take it to the next level with a new fabric that harnesses everyday motion to power personal devices!过去几年,从尝试自发电球场和操场到教室灯控,科学家一直致力于找出利用人自身运动产生能源的新方法。现在,一些科学家想进一步研究出可以通过日常活动给电子产品充电的新布料。The brainchild of a team of scientists from South Korea#39;s Sungkyunkwan University and Australia#39;s University of Wollongong, the electricity producing fabric takes advantage of the Triboelectric effect (TNG). Also known as friction energy it is the electricity created when two different kinds of surfaces rub against one another.韩国成均馆大学和澳大利亚乌龙岗大学的科学小组共同开启此研究课题,发电的布料主要靠的是擦生电原理,即由不同的两面互相擦产生电力。While this sounds complicated, it is something we have all encountered. Remember the age-old trick of rubbing your head on a balloon to make your hair stand up? That is the triboelectric effect.As the surfaces rub together, the electrons move from one surface to the other. This leaves one object negatively charged (balloon) and the other positively charged (hair). Since opposites attract, the electrons in the hair ;leap; toward the balloon causing it to ;stand up.;虽然听起来难了点,我们平时生活中都遇到过。还记得那个用气球在头上擦后会使你头发立起来的小把戏吗?那就是擦生电原理。当两面擦时,电子从一面传到另一面。就导致了一个物体是负电极(气球)而另一个是正电极(头发),由于异性相吸,头发上的电子就朝着气球“跳“过去,然后就导致发丝直立。The WNTG not only eliminates the need for batteries, but also looks and feels like a regular fabric. An issue was that repeated wear or a trip to the laundry machine would wash away the silver and zinc coating. The researchers solved this problem by covering the layers with a thin film of plastic. In their laboratory trials they were able to use the fabric for more than 12,000 cycles.科学家研究的这种可穿戴擦发电布料不仅代替了电池,看起来也和常规的布料没什么两样。就是经常穿或者洗涤后,表面的银和锌的涂层会慢慢掉下来。为解决这个问题,研究者们用了很薄的一层塑料来覆盖布料外层。他们实验过这种布料大概能重复使用12000多次。Sang-Woo Kim and this team who reported their invention in the March ACS journal say that the fabric#39;s use goes beyond charging personal devices. They believe it could also be useful in a range of biomedical and other personal healthcare gizmos that need a reliable power source.Sang-Woo Kim和他的团队在三月的ACS周刊上报道过他们的发明,上面说这种布料用处远非局限于给个人电子用品充电,他们相信在需要稳定电源的生物医疗和其他个人健康小装置上都能大展身手。译文属原创,仅供学习和交流使用,未经许可,。 /201507/386083

  When the concept of “peer-to-peer” lending popped up a decade ago, libertarians and leftwing idealists alike cheered. For the idea of using the internet to match borrowers who needed cash with lenders seemed to epitomise the sharing economy.10年前“个人对个人”(peer-to-peer,简称P2P)贷款突然兴起时,自由主义者和左翼理想主义者都为之欢呼。这是因为,利用互联网为需要资金的借款者与贷款者牵线搭桥似乎带有“分享型经济”的特征。What made P2P sound doubly exciting — at least in the aftermath of the 2008 crisis — was that these platforms also appeared to thumb a nose at the banks. Or, to use the technical term, P2P threatened to “disintermediate” mainstream finance, in a democratic way.令P2P听起来更加激动人心的是——至少在2008年经济危机之后的一段时期里——这些平台似乎也对嗤之以鼻。或者,用专业术语来说,P2P以民主的方式威胁着将主流金融“去中介化”。But that utopian ideal is starting to be turned upside down. True, if you look at the profile of who is providing loans on America’s biggest P2P platforms today, such as Lending Club and Prosper Marketplace, you will still see wealthy “mom and pop” investors, attracted by the hope of good returns in a low interest rate world. Since 2009 loans on the big P2P platforms have generated yields of between 5 and 9 per cent.但是现在,这种不切实际的想法即将被颠覆。没错,如果看看美国各大P2P平台上——如Lending Club和Prosper Marketplace——贷款方的介绍,你还是会看到富有的“夫妻店”投资者——在当今的低利率时代,对高回报率的期待把他们吸引到互联网平台上。自2009年以来,大型P2P平台贷款产生的收益率在5%至9%之间。But those plucky individuals are in a minority — and a shrinking one. These days, four-fifths of the finance on P2P platforms [all of them? says just Lending Club in source i can find our story dated December 14.2014]comes from institutions, such as hedge funds, or arms of the established banks.但是,大胆的个人投资者毕竟是少数——而且越来越少。如今,P2P平台上五分之四的资金来自机构,如对冲基金,或者老牌的分。Indeed, hedge funds and banks are now moving into this sector with such a vengeance that they are not only repackaging those P2P loans into new instruments, via securitisation; they are lending via these platforms too.的确,对冲基金和正在大张旗鼓地进入P2P领域——不仅通过券化把P2P贷款重新包装为新的金融工具,还通过这些平台从事贷款业务。Earlier this year, for example, Citigroup agreed a 0m tie-up with Lending Club, to finance loans. Citizens Bank has bought 0m of loans from SoFi, a big student loan-focused marketplace lender, and committed to buy 0m more. Instead of thumbing their nose at banks, in other words, P2P lenders are co-opting them, if not being co-opted too. In financial terms, this is like Uber quietly cutting deals with established taxi companies.例如,今年早些时候,花旗集团(Citigroup)与Lending Club签署一项价值1.5亿美元的贷款融资合作协议。美国国民(Citizens Bank)从专注学生贷款市场的大型网贷平台SoFi购买了2亿美元贷款,并承诺再购买3亿美元。换句话说,P2P贷款平台非但没有对嗤之以鼻,反而要么拉拢、要么被拉拢。这就好比Uber与出租车公司悄然达成协议。Does this matter? The answer to that question depends on what you think the main priority for modern finance should be. If you think that the system needs to provide more credit to the economy, in order to to boost growth, this quiet transformation should seem welcome.这有关系吗?取决于你对现代金融的首要任务怎么看。如果你认为金融体系需要为经济提供更多信贷以刺激增长的话,这种悄然转变似乎应该受到欢迎。After all, the arrival of banks and hedge funds will enable the sector to expand more rapidly. And borrower demand seems sky high; PwC predicts that P2P lending will swell to 0bn by 2025, from .5bn in 2014.毕竟,和对冲基金进入有利于该行业更快扩张。而且借款人的需求似乎非常旺盛;普华永道(PwC)预计,到2025年,P2P网贷规模将由2014年的55亿美元暴增至1500亿美元。But if you think that the main goal of finance should be to create safe, clear rules for capital flows, then this pattern might also make you weep. If you ask bankers why they are moving into P2P lending, some will point to the high returns they hope to earn (since the average loan commands an interest rate of around 13 per cent, margins are high). Others will cite the need for banks to copy clever technology ideas and become more entrepreneurial.但是,如果你认为金融业的主要目标应该是为资金流动制定安全、明确的规则,那么这种模式或许会让你失望。如果你问家为什么要进入P2P网贷行业,一些人会说想要获得高回报(因为平均而言贷款的利率为13%左右,息差很高)。其他人会称,需要学习聪明的技术理念并更具创业精神。But there is another, grubbier motive: regulatory arbitrage. “We like P2P because we can do things there that we can’t do in our main bank,” as a senior New York banker recently (and sheepishly) explained at a conference.但是,还有另外一个更卑鄙的动机:监管套利。“我们喜欢P2P,因为我们在那里可以做一些我们在没法做的事,”纽约一名高管最近在一次会议上(带点不好意思地)解释称。Sharp-eyed ers might feel a sense of déjà vu. The idea of using innovations to dance around tough capital rules is hardly new: in the early years of the past decade, banks used structured investment vehicles and collateralised debt obligations in the same way.眼尖的读者或许会有一种似曾相识的感觉。利用创新在严格的资本规则下打擦边球的想法并不新鲜:在过去十年的头几年,以相同方式利用结构化投资工具和债务抵押债券(CDO)来规避监管。They also took advantage of cracks in regulatory structures to create products that policymakers could not easily monitor or control (it was unclear, for instance, who was supposed to oversee mortgage derivatives).它们还利用监管结构中的漏洞,创造了政策制定者不易监管或控制的产品(抵押贷款衍生品由谁监管在那时并不明确)。A sense of fragmentation is hampering policymakers again. And as Kara Stein, a commissioner at the US Securities and Exchange Commission, has observed: “We can’t afford a fragmented regulatory architecture.”一种分散的感觉再次困扰政策制定者。正如美国交会(SEC)委员卡拉斯坦(Kara Stein)所说的:“我们负担不起一个离破碎的监管体系的后果。”It is unclear whether the regulators’ remit covers all the upstarts.现在尚不清楚监管部门的职责范围是否覆盖所有新平台。Perhaps this does not matter. The P2P sector is a tiddler compared to the overall financial world (or the pile of mortgage derivatives which sowed havoc in 2008). And unlike the pension funds which were exposed to mortgage-backed securities in 2006, for example, the banks and hedge funds understand the dangers of credit losses. So even if P2P loans turn bad in the future, this should not pose wider risks.也许这并不重要。与整个金融世界(或者引发2008年灾难的抵押贷款衍生品的规模)相比,P2P行业就像一条小鱼。比如,与在2006年存在抵押贷款持券相关敞口的养老基金不同,和对冲基金知道信贷损失的危险。因此,即使P2P贷款在未来变成坏账,也不会构成更大范围的风险。Nevertheless, history suggests that whenever innovation and regulatory arbitrage are combined in an era of ultra cheap money, it often ends in tears — somewhere. If nothing else, that suggests that policymakers need to find ways to stop activity falling between the regulatory cracks; not least because financiers are endlessly creative at dancing in those gaps.尽管如此,历史表明,在资金极其廉价的时代,一旦创新和监管套利结合在一起,通常会以眼泪收场——在某个地方。这至少表明,政策制定者必须想办法阻止某些活动偷偷钻了监管漏洞;尤其是因为金融家在钻空子方面拥有无限的创造力。 /201510/404890

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