European Marketing Forecasts 2003/04 (European Marketing Forecasts)

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This digital document is an article from Market Asia Pacific, published by Media Contact Resources, Inc. on December 1, 2002. The length of the article is 659 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: KOREAN CONSUMERS TO SHOULDER THE BURDEN FOR 2003 GDP EXPANSION.(projected gross domestic product expansion at over 6%)
Publication: Market Asia Pacific (Newsletter)
Date: December 1, 2002
Publisher: Media Contact Resources, Inc.
Page: NA

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Trends and developments in the telecommunications market: BuddeComm - 2003 international Market Reports. (Market Trends).: An article from: Africa & The Middle East Telecom

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Trends and developments in the telecommunications market: BuddeComm - 2003 international Market Reports. (Market Trends).: An article from: Africa & The Middle East Telecom

Manufacturer: Information Gatekeepers, Inc.
ProductGroup: Book
Binding: Digital

Book Description

This digital document is an article from Africa & The Middle East Telecom, published by Information Gatekeepers, Inc. on May 1, 2003. The length of the article is 1763 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Trends and developments in the telecommunications market: BuddeComm - 2003 international Market Reports. (Market Trends).
Publication: Africa & The Middle East Telecom (Newsletter)
Date: May 1, 2003
Publisher: Information Gatekeepers, Inc.
Volume: 4 Issue: 5 Page: 10(5)

Distributed by Thomson Gale

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Laffer -Wanniski type supplyside nonsense

Dow 100000 is fiction but deserves 5 stars for sheer comedy!

Let's Go Crazy!

Good Reading........Yet Misses Key Point

Valuable signal

Dow 100,000: Fact or Fiction
Charles W. Kadlec
Manufacturer: Prentice Hall Press
ProductGroup: Book
Binding: Paperback

Public Finance | Economics | Business & Investing | Subjects | Books
General | Business & Investing | Subjects | Books
Introduction | Investing | Business & Investing | Subjects | Books
Stocks | Investing | Business & Investing | Subjects | Books
General | Personal Finance | Business & Investing | Subjects | Books
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Dow 40,000: Strategies for Profiting From the Greatest Bull Market in History

Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market

The Atlas of Economic Indicators: A Visual Guide to Market Forces, and the Federal Reserve

ASIN: 0735201374

Amazon.com

Any number of magazine articles, and even a few books, will tell you that the U.S. stock market in the late 1990s was a dangerous bubble. No one could say when the crash was coming, but a lot of people believed it was just around the next big economic curve. Kadlec, chief investment strategist for Seligman Advisors Inc., has a different point of view: sure, bad things will happen now and then, but ultimately the Dow Jones Industrial Average will end up at 100,000 in the year 2020. In other words, "two decades of above-average economic growth with price stability." This, he notes, represents only an 11.1 percent annual increase in the stocks' value, which, he believes, is entirely realistic.

So how does Kadlec actually get to 100,000? First, he shoots down comparisons to previous periods of boom and bust. The cold war is over, he notes, which represents a new political paradigm. Then there's the oft-discussed drive of the baby boomers to retire in style. And, of course, there's technology, presenting new ways for workers to be more productive and resourceful. Kadlec also sees the worldwide trend toward freedom and democracy as a powerful economic force, as is the need for governments to compete with each other for economic activity. But he cautions that the prosperity he predicts isn't guaranteed: wars (either with bombs or tariffs) could end it pretty quickly. So could terrorism or higher taxes. (He includes some nifty illustrations showing how tax increases on rich people inevitably sock middle-income and poor people harder.) And a currency shock could cause untold economic mayhem. Kadlec notes that even he was surprised by his conclusion that the Dow should travel to this nosebleed height. But if he's right--well, let's just say a lot of investors are going to have very comfortable retirements. --Lou Schuler

Book Description

A bullish view of the future, forecasting unprecedented possibilities for investors Boom or bust? That's the question on the mind of millennium market watchers. A seasoned investment strategist, Charles W. Kadlec has a startling answer: we are at an historic moment: the beginning of a Great Prosperity - a decade or more of above average economic growth. What lies ahead is a period of unparalleled opportunities for investors with a strategic outlook. In this provocative book, Kadlec reveals the forces driving this monumental boom and examines its potential impact. DOW 100,000 supports its supremely bullish premise: the DJIA is headed for a record 100,000 by the year 2020. With penetrating insight, Kadlec pinpoints the factors now in place that could make this ideal an economic reality: the end of Cold War; the aging of baby boomers; technological revolution; the spread of freedom (and the surge of individual creativity); and increased competition among governments for economic activity. He does not ignore potential threats: war in the Middle East; international terrorism; failure to solve the dilemmas of Medicare and Social Security. He concludes with two strategies for taking advantage of this phenomenon - one for wealth-building, and the other for harvesting a lifetime of savings. Compelling and persuasive, DOW 100,000 will change the way investors look at today's market--and empower them to seize the opportunities that tomorrow's market offers.

Customer Reviews:

Laffer -Wanniski type supplyside nonsense .......2005-09-06

The correct title for Kadlec's supplyside nonsense is "Dow 100,000:Fiction".The introduction to this book also contains the wild prediction made by Acampora that the Dow would reach 18,500 by 2006 ,as well as the unsupported claim by Ibbotson that the Dow would reach 120,000 by 2025.Many copies of this book of fiction now sell for a penny.Even at a penny it is overpriced.It is based on the standard supplyside confusion of being unable to differentiate between physical investment in durable goods(spending on plants,factories,equipment,machinery,inventories and stocks of finished and unfinished goods,raw materials)which does lead to solid economic growth in gross domestic product(gdp) and hence increased actual and expected profits,followed by increases in stock prices and speculation in financial assets based on phony corporate accounting statements of faked past profitability that creates a phony prosperity.It would be much wiser for a potential book buyer to purchase Kindleberger's Manias,Panics,and Crashes(3rd edition,1996) or Shiller's Irrational Exuberance(2000).The best short treatment is still J M Keynes's chapter 12 in The General Theory of Employment,Interest and Money(1936).Anyone who had already digested Keynes's analysis would have easily seen the giant holes in Kadlec's argument.Given that the most accurate predictor of future stock market growth is growth in gdp,Kadlec's claim that stock market valuations could grow at 11% per year from 1999-2020 would require continuous gdp growth over the period 2000-2020 of 7-8% per year.This is not only an economic impossibility(except for supplysiders and libertarians)but a mathematical impossibility for any first world economy.This book is a case study of literally dozens of failed forecasts based on supplyside economic"theory".

Dow 100000 is fiction but deserves 5 stars for sheer comedy!.......2002-09-20

I wonder how the authors of this misleading piece of pap feel now? Frighteningly, they're probably still convinced that they're right. Unfortunately many small investors were suckered into believing that money could grow on trees by this and similar pieces of nonsense, and have now seen savings and pensions annihilated.

The amazon.com blurb above has some revealing lines - stocks 'only' need to grow by 11.1% a year in value for the next 20 years for the Dow to reach 100,000. 'Only' 11.1%/year!!!!! Outstripping real growth in the economy by 'only' 5 to 1!!!! Give me a break.

Baby boomers want to have a prosperous retirement? OK, I'm sure they do, but that doesn't mean they can create real value where none exists by rushing lemming like into the stockmarket. Or the housing market, for that matter.

People love to think they can get rich just by magic, but that's not the way the world works. There'll always be a sucker who'll fall for the latest get rich quick scheme. Unfortunately books like this encourage people to fall for them in their thousands.

How smug I feel to have kept my savings in cash for the past few years!

Dutch Tulips! Dutch Tulips!

Let's Go Crazy!.......2002-08-01

In the pantheon of economic theorists, we have to give the author of this book a special place right next to Arthur Laffer, whose "Laffer's curve" was so inspirational (or should I say delusional) in the Reagan era. Kadlec argues for reducing the tax burden on the super-wealthy with charts that purport to show that taxing the rich really harms the middle- and lower-income classes. Well, that should merit him a luncheon at the White House with Ken Lay and Leona Helmsley. What it won't get him is any credibility. I don't believe in book burning per se, but if I noticed this book on a pyre somewhere, I would not rush to save it from the flames.

Good Reading........Yet Misses Key Point.......2002-06-20

I have found it of great interest to read this book for the first time after 3 years of down or sideways market movement.

The author's discussion about how terrorist attacks could decrease the chances for his rosy scenario increase the believability of the basic ideas presented.......why the economy and market should be expected to move either up or down.

The key idea presented.......that freedom is the key to economic well being.......was the most important factor highlighted by the author when the book was written......and rings even louder today.

The obvious temptation to criticize the premise (Dow 100,000 in 20 years) is tempered by the realization that, over the remaining 17 or 18 years, it is plausible to catch up to the 11 percent annual growth rate required to reach the arbitrary target.

However, the author fails to address the basic demographics of the American economy......which will be the rapid decrease in the Boomers and their money. It appears that the author may be counting on Social Security privitazation to replace the flood of 401K funds that I believe has been the primary fuel driving the herd of the bulls during the 17 year run from 1982 to 1999.

The author fails to discuss his most fundamental assumption relative to market performance ......that post baby-boomers will buy into the story so successfully used to convince the boomers to pour 401k funny money into the market.

"The Story", repeated at the beginning of the book, is that the stock market "historically" has risen an average of 11 or 12 or whatever percent.......and can be expected to continue given the proper feeding of tax cuts and other positive news.

The author fails to consider that the past rates of increase occurred for the most part when; (1) Dividend rates were much higher and (2) Price-earning ratios were much lower.

In essence, new "investors" must belive that it is reasonable to trade their money for stocks that basically pay close to zero current returns (dividends). The only rationale for this leap of faith is a belief in the history of pyramid schemes and chain letters......the greater fool theory of investing.

Valuable signal.......2001-10-17

5 stars for publishing this book: when cabdrivers start giving investment tips, or when books like this get published, that's a very clear signal it's time to get out of the stock market.
As for valuable contents, I prefer "Contrarian investing" by Anthony Gallea.

Average customer rating:

Dow 100,000 Fact or Fiction
Charles W. (Ralph J. Acampora, Foreword) Kadlec
Manufacturer: Prentice Hall Ptr
ProductGroup: Book
Binding: Paperback
ASIN: B000OI7NCG

Book Description

RECLAIMING THE ETHICAL HIGH GROUND goes straight to the heart of the issues facing the corporate community.

What's at stake in the battle for the ethical high ground?

Everything. Everything we depend upon in our capitalist, free enterprise system. We stand today at the brink of a full scale corporate leadership credibility crisis.

Customer Reviews:

Doesn't dig real deep.......2003-12-01

This book is very simplistic. It doesn't give any real answers. It gives simplistic solutions such as "Have a better ethics program in business school"

The author has used this book as an opportunity to demonstate his love for the Republican party. He doesn't seem to have any fortune 500 business consulting experience.

The fact that most reviewers are from Wisconsin(just like the author) tells me that most of the reviews are from friends of his.

The ETHICAL HIGH GROUND is uncomfortable in places!.......2003-02-06

The book is written in a business context, but the reader is inescapably challenged to consider an approach to life, not just business. A treatise based only on the recent transgressions which have become public knowledge would not have been so effective. John Di Frances mixes those with instances of personal observation, and contrasts them with cases where the 'right way' ethically was also commercially right. It is a timely reminder.

A needed antidote for today's climate of corporate scandals.......2002-12-12

Reclaiming The Ethical High Ground: Developing Organizations Of Character by business and industry consultant John Di Frances is a hard look at the contemporary crises in confidence brought about by a seemingly pervasive, incompetent, greedy, and immoral corporate leadership. Going straight to the heart of the problem in the current business crises that has led to the collapse of the stock market and a free-fall of consumer and investor confidence, Di Frances clearly and candidly lays out just what can be done about it, and the qualities good leaders need to help fallen business giants get back on their feet. Reclaiming The Ethical High Ground is a very much-needed antidote for today's climate of corporate scandals and should be required reading by anyone having a responsibility for the corporate health of their company whether it is local, regional, national, or international in scope.

Step by step: Reclaiming the High Ground For Everyone.......2002-11-19

John Di Francis wrote this book with the business leader in mind, however, I would
recommend this book to everyone.
He speaks of Trust, Integrity, Honesty, Responsibility, all attributes that are needed by all, not only business leaders.He not only reminds us of what is needed, he gives guidelines for accomplishing the
Reclaiming of the High Ground.
I appreciated him reminding me of the antidote for the moral decline seen in our society, Character.
All of us, no matter what field of work we are in, be it Medicine,Nursing,Education,Government,Parenting, must begin with a strong moral "Character" I especially recommend this book to parents as Character building begins in childhood as Mr. Di
Frances points out.

Reclaiming the Ethical High Ground.......2002-11-12

At last, a book that gets to the heart of the matter!Di Frances makes it clear that leaders must make a commitment to doing what is right regardless of the cost. I believe this book should be in the hands of every corporate and political leader in our country. Not only does it provide invaluable insights but gives great examples of individuals who apply high ethical standards in their roles as leaders. This is a must read for both leaders and those they serve!

Book Description

Provides a comprehensive framework for achieving higher levels of corporate information disclosure and transparency
In order to decide whether or not a company is a good investment, analysts and investment professionals need to know as much as possible about the company's tangible and intangible assets, as well as a variety of critical performance measures. Written by an international team of experts, The Value Reporting Revolution clearly explains why corporations must move toward greater transparency and, more importantly, it provides a comprehensive framework for achieving that goal. Among other important lessons, readers learn how to identify the gaps between how corporate managers perceive their disclosure practices versus how the markets see them, as well as how to leverage their organizations' electronic communications technology and tools to ensure easy access to vital information and more meaningful data analysis.
Robert Eccles (Jupiter, FL) is President of Advisory Capital Partners, Inc. Robert H. Herz (New York, NY) is a Partner at PricewaterhouseCoopers, US. David Phillips (London, UK) is a Partner at PricewaterhouseCoopers, UK. Mary M. Keegan (London, UK) is head of Global Corporate Reporting at PricewaterhouseCoopers, UK.

Customer Reviews:

Good "second book" on accounting reform.......2002-08-01

If you want to learn about accounting scams, you probably need Mulford and Comiskey, The Financial Numbers Game. But for a broader view of the virtues and limits of accounting, Eccles and company have a lot to offer. You can skip or skim the somewhat overhyped stuff about the "ValueRevolution" itself (note that three of the authors come from PricewaterhouseCoopers, where they seem to be having some trouble with their space bar, or spacebar). Keep your best brain cells for chapters three through eight, where you get a look at the earnings obsession -- and just as useful, a suggestion of what investors really need and want. Note that one of the co-authors (Robert H. Herz) is the new head of the Financial Accounting Standards Board).

Fantastic ! A must read ! Breakthrough thinking !.......2002-03-29

I have purchased several books on amazon.com, but I must say that this is one of the best ones I have read so far ! This is exactly the sort of book management in companies worldwide should be reading ! I live and work in Tokyo, and I think the Japanese public companies here could learn so much from this book ! Corporate reporting here is very poor, especially in the banking sector(horrendous !), and investors do not take them seriously anymore. Public companies here should improve their corporate reporting and utilize the capital markets more, and the first thing they need to do is to regain the trust of their
shareholders. In other words, they should read this book cover to cover right away ! The people who worked on this book, like Mr. Matthew Wissell, who leads the Value Reporting practice in PricewaterhouseCoopers' New York office, should be highly commended for such a fine piece of work !

Fantastic ! A must read ! Breakthrough thinking !.......2002-03-29

A Call to Arms.......2001-04-07

"ValueReporting" smoothly describes many broken financial reporting processes, including "whispering", a time-consuming process that CFOs play with analysts, where CFOs "whisper" their earnings expectations to the analyst, making the analysts appear intelligent. A great deal for the analyst cause they don't have to do any real analysis. If the CFO does not play this game, they risk the wrath of Wall Street.

The problem with this is that it is in violation of the spirit (if not the law) of the yet to be enforced SEC Fair Disclosure Act which states that Sally Q. Public gets to know material information the same time that John Q. Analyst does.

"ValueReporting" does offer a practical solution through XBRL technology. As a member of XBRL.org I strongly agree with the authors that if business reporting, both financial and non-financial, is standardized, Web technologies are in place to distribute this information uniformly to all investors and in a richer format than at present. With the gentle prodding of regulatory agencies like the SEC and FDIC, this will happen sooner rather than later. Let's hope that SEC Chairman Unger reads this book, and fast.

For me as a consultant and a technologist "who can spell XBRL", The ValueReporting Revolution was a call to arms to apply my knowledge to the inequities of financial reporting. Helping clients sell their wares over the Web is nice, but to level the financial playing field for small companies as well as large, for the small investor as well as the institutional, is ennobling. And forcing Wall Street analysts to actually work for a living, would be, well, just icing on the cake.

Pass Go & collect $200 for this short cut to the future.......2001-03-14

First I should explain that I'm not a neutral reviewer: I have known one of the authors of this book (Bob Eccles) ever since he woke some of us up with his HBR article "The Performance Measurement Manifesto" almost ten years ago, and I've also met another of the authors (David Phillips) in the last year. Coupled with that, some of the work of my company (Metapraxis) on Business Driver Diagrams is mentioned in Chapter 1. I mention these points up-front in the interests of transparency, which is a core theme of the book itself.

The book's thesis is that the investors of the future will reward companies for such transparency - in other words, those companies that understand, measure and publish information about leading indicators such as growth of market share as well as lagging indicators such as profit will be better rated than their competitors, other things being equal.

This is pretty controversial stuff. After all, if you're the CEO or CFO of a major global multinational that's just announced on-target quarterly earnings, but your (currently confidential) internal leading edge indicators say that your market share is starting to fall, how exactly are your investors going to react if you decide to be brave enough to tell them all about it?

There is clearly something of a problem here and I refer to it as the Paradox of the World's Bravest Customer. You don't know who that was? I think it was the guy who bought the world's first fax machine. Think about it.

So undoubtedly there'll be some short-term pain for the pioneers, but once the markets start to see that a core group of innovative firms has the courage to disclose this kind of information (whether good or bad) then it's obvious that this disclosure will reduce the risks involved in these investments. And as John Maynard Keynes pointed out in 1910:

"What would be a risky investment for an ignorant speculator may be exceptionally safe for the well-informed expert. The amount of risk to any investor practically depends, in fact, upon the degree of his ignorance respecting the circumstances and prospects of the investment he is considering." *

The book is all about the revolutionary implications that follow through from this 90-year old observation. Whether you agree with the thesis or not, it will change the way you think about corporate information, business management and investor relations. I recommend it highly to CEOs, CFOs, IR heads, financial analysts and auditors, business school students and indeed to anyone embarking on a career in these areas.

Robert Bittlestone: Managing Director, Metapraxis - London & New York

Book Description

Make a Difference is an all-you-need-to-know guide for readers who want to get involved in their communities but feel overwhelmed by the sheer volume of organizations that need help. Compiled and written by Arthur Blaustein, adjunct professor of social and urban policy at the University of California, Berkeley, and faculty advisor for its AmeriCorps program, this guide offers valuable information for everyone inspired to give back to their communities.

Make a Difference helps readers everwhere find innumerable opportunities to put their expertise and talents to good use. Inspirational anecdotes from volunteers who took the plunge help readers overcome their fears about community involvement. Blaustein's guide includes over 140 national, nonprofit organizations that use volunteers of all ages to make a difference where it counts. Make a Difference also lists 30 organizations that give up-to-date information on critical issues and policies. Whether readers want to tutor a child or an adult, promote causes they care about, or get hands-on experience at an organization's headquarters, Make a Difference will inspire volunteers to get out there and make a difference in their communities--and their lives.

Customer Reviews:

you CAN do something!.......2003-01-30

This is the perfect book for people who want to do something to promote human and community values based on feelings other than greed, self-interest, or the affirmation of ethnic identity. There's a lot to do...every good thing in the world that individuals cannot do for themselves and that does not have a profit attached to it!...and Arthur Blaustein has as clear a notion of what these tasks are as anyone going. Both in government and in teaching, he's had a hand in showing what can be done... and the gratification and human connection that can come from this kind of action. Without it, our society struggles to find its soul and preserve its democratic feeling. But these possibilities are no secret. Where, in fact, would the world be without them?...or without Arthur and people like him who patiently and steadfastly draw them to our attention?

How to Live a Life with More Meaning.......2002-08-15

I find myself giving lip service to my desire for community involvement and feeling genuinely grateful for our environment and freedoms--yet not putting my thoughts into action. With MAKE A DIFFERENCE, I can finally begin to search for ways to contribute. It provides contact information and an overview of many organizations, whether they are year-long commitments or just several hours a month. I appreciate the resources it provides--the list of important and wonderful novels and the information resources. The author's impassioned plea to us to be responsible citizens is heartfelt and inspiring. It reminds us that those who give are the true receivers...of the gift of meaningful experience.

On the other hand..........2002-07-02

I find it interesting that the above reviewer gave this book 1 star for not being more even-handed, saying it's too left wing, then went on to write a review that is so blatanly biased and right wing! As a Republican I'm disgusted that this person has such narrow tunnel vision and a laughably bad radar for hypocrisy. The book supports good causes, and not just the ones used as soapboxes by either political party. If you're looking to do something more with your life then you'll find it useful and enjoyable.

Politically Leftward Slanted Book.......2002-06-10

Politically Leftward Slanted Book
This book aims not to influence America's youth into making good personal decisions about where to volunteer their valuable time but instead attempts to pound in the values of America's left wing. Sure, Mr. Blaustien makes refenence to indisputably good doing orgainzations like the American Red Cross and 4-H but he also shows a blatant political bias in his sections on 'Gay and lesbian rights' and 'women's rights.' He must not even be able to contemplate the thought that some people differ with his views on these issues. A book with such an honorable title 'Making a difference' is tainted by Mr. Blaustien's listing of orgainzations such as 'Choice USA,' 'National abortion rights action league,' and 'National network of abortion funds.' What if I, or and of my many peers doesn't think these orgainzations are noble? Why does Mr. Blaustien ultimately turn so political? And if he truly believes his position of abortion (for choice) is superior, why doesn't he tell us about organizations on both sides of the issue and let America's youth decide based on studying the issues? Likewise he is similarly politically slanted on the issue of 'gay and lesbian rights.' Why must he push his beliefs on others instead of providing readers with a listing of organizations that represent different points of view?? This book is not a comprehensive guide to volunteering, it is a political statement, period.

Book Description

Frieda Hempel (1885--1955) was among the greatest sopranos of opera's Golden Age. She created the Marschallin in Der Rosenkavalier in both Berlin and at the Metropolitan Opera, where she debuted with Caruso in 1912.

Customer Reviews:

an unusually readable autobiography of a superb soprano.......1998-10-14

Hempel was, as her recordings clearly show, one of the century's finest sopranos. It also turns out she was one of its finest autobiographers as well. The book was dictated and checked by the soprano before her death in 1955, shortly after which the German edition appeared and for which she wrote the prefact two days before her death. Remarkably, an English version was written prior to the German version but, for reasons known only to Hemple, was never published. Elizabeth Johnston, the diva's friend, deserves our thanks for her efforts on behalf of the English version.

What makes this book so refreshing, aside from the lack of a ghostwriter, is its highly readible style and worthwhile content. Those, like myself, who are tired of the vacuous, vapid "I sang here", "I sang there" litany will find Hempel a candid writer and one who can write modestly yet entertainingly of her long career that included singing with Caruso and under the baton of Toscanini. Had she not been a remarkable soprano, she would have been an equally fine writer.

The book is highly recommendable to vocal aficianados and anyone who cares to meet a fascinating, great lady.

Average customer rating:
My Golden Age of Singing (Opera Biography Ser., Vol. 10)
Frieda; Johnston, Elizabeth; Moran, William R. Hempel
Manufacturer: Amadeus Press, LLC
ProductGroup: Book
Binding: Hardcover
ASIN: B000MBO468

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