31 Ağustos 2014 Pazar

The Glass Ceiling - Still A Long Way To Go

While fairness for the female workforce has improved over the last two decades, there is still a lot of room to improve. Now, its more in the hard to police, hard to notice areas of discrimination and gender bias (can also replace with racial bias with same cause and effects).
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THE ONE WORD MEN NEVER SEE IN THEIR PERFORMANCE REVIEWS

THERE'S ONE ADJECTIVE THAT'S NEVER USED TO CRITICIZE MEN, YET IT SHOWS UP AT AN ALARMING RATE IN WOMEN'S PERFORMANCE REVIEWS.

It’s a scenario that could be straight out of a textbook on gender bias:
“Jessica is really talented, but I wish she’d be less abrasive. She comes on too strong.” Her male counterpart? “Steve is an easy case, smart and great to work with. He needs to learn to be a little more patient, but who doesn’t?”
These statements, uttered by an engineering manager who was preparing performance reviews, were the catalyst for linguist Kieran Snyder to see if she could quantify the double standards in the way male and female employees are evaluated.
In a report for Fortune.com, she collected 248 performance reviews from 28 companies from large technology corporations to small startups. The reviews came from 180 male and female managers.


via. Fortune.com

Perhaps unsurprisingly critical feedback was doled out in a much higher ratio to women: 58.9% of men’s reviews contained critical feedback, while an overwhelming 87.9% of the reviews received by women did.
Not only did women receive more criticism in their performance reviews, it was less constructive and more personal. For example, the critical feedback men received was mostly geared toward suggestions to develop additional skills:
“There were a few cases where it would have been extremely helpful if you had gone deeper into the details to help move an area forward.”
Women received similar constructive feedback, but they also included the personality criticism such as “watch your tone” and “stop being so judgmental.” For example:
“You can come across as abrasive sometimes. I know you don’t mean to, but you need to pay attention to your tone.”
Abrasive alone was used 17 times to describe 13 different women, but the word never appeared in men’s reviews. In fact, this type of character critique that was absent from men’s reviews showed up in 71 of the 94 critical reviews received by women.
These findings, while from a small sample size, illustrate a well-documented phenomenon for working women: The Double Bind. The double bind is the idea that if a women is too “nice” at work or uses stereotypically feminine vocal characteristics she’ll be seen as too soft and won’t be taken seriously. On the flip side, if a woman is too assertive she’s seen as brusque and bitchy.
This paralyzing situation was rumored to be part of the reason why New York Timesexecutive editor Jill Abramson was abruptly fired earlier this year. Even if it wasn’t at the heart of her dismissal, the familiar critiques “abrasive” and “brusque” were often used to describe her management style, but not her male successor.
Unfortunately there isn’t an easy solution to this frustrating situation. Snyder found that even female managers critiqued women’s personalities and not men’s, hinting that these perceptions and biases are deeply and perhaps unconsciously engrained in the way we view women at work.
The first step is perhaps simply pausing and asking why abrasive is an adjective reserved for women.


30 Ağustos 2014 Cumartesi

Interview with Upcoming Commercial Model... Venice Min

Can you recognize the billboard girl of HSBC credit card and various commercial advertisement?

Yes. She is here with Finance Malaysia Blog.



In this special Merdeka posting, we are glad to have a chance to conduct an exclusive interview with another upcoming and proud Malaysian. She is Venice Min, an ordinary girl who eventually became one of the most wanted girl-next-door. Let's explore more...


  • Name                             : Venice Min
  • Hometown                     : Penang, Malaysia but I'm based in KL currently
  • Hobby                            : Reading, Singing, Spa/Massage therapy session, Traveling 
  • Favorite Sports             : Swimming & Running
  • Favorite Singer             : Rihanna & Whitney Houston 
  • Favorite Foods             : Chicken Wings, Spicy Thai food and Penang street foods
  • Favorite Places            : I am always working or spending my time in university so I do not have much time chilling out, so my favorite places are very subjective. It could be a shopping mall or home and I really love traveling so I would say that my favorite countries are Australia, United States, and Japan (that I've always wanted to visit)!

  1. Since you are still studying, what makes you venturing into the modeling industry? Or, how?
    I started when I was at the age of 17 right after my high school. I was signed by an agency in Penang (Velvet Productions) and then a few months later, a magazine company from Kuala Lumpur approached me for a shoot. Everything was very impromptu because I used to be really outgoing, loved meeting new friends and trying out different things plus I was really into modeling so I started to go for castings in talent agencies. Then, I was lucky enough to get commercial shoots and jobs until today.

  2. How did you juggle between study and work currently? If given the option to only choose one, which one will you sacrifice? (Very difficult question for you!)
    Yes, this is a very tough question because I love both! haha. Hmm, I like what I'm doing and what I'm studying (Bachelor of Mass Communications Majoring in Public Relations & Minor in Broadcasting). I have this little organizer book with me that I bring around most of the time. So, every single thing I need to do I will jot it down on that book and my school timetable is my phone wallpaper. Basically, I believe if you are organized, determined, and hard working then you can do it. I will sacrifice my job if I were given a choice - but of course I don't just sacrifice unless I really need to (like during my examinations or something important).

  3. In your mind, what's your biggest achievement so far?

    In my mind, I think my biggest achievement is the exposure I gained from my advertisements and being one of FHM Malaysia Cover girl and winning 3rd in FHM Most Wanted Women in the world 2013.

  4. Being the face of HSBC bank and featuring on various magazines, will these changes your daily life?

    Hmm, to be honest yes at first I couldn't really adapt to it in terms of seeing myself in the public (malls) but I started to get used to it months after that. It does not change my daily life very much because I am still doing the same thing everyday and I don't really care about my surroundings. Well, maybe a little busier with work? Because life is all about improving right?

  5. What course are you studying now? And, what's your planning after graduating?
    Bachelor of Mass Communications majoring in Public Relations and minoring in Broadcasting. Ah! I am a very ambitious person and I want to do everything haha. So, after graduating I will still be doing the same thing which is modeling and blogging. Then apart from that, probably going to run a small business (which I've been always wanting to open one!) and work in a Public Relations firm. At the same time, probably train up my public speaking skills so I can be a TV presenter? (Am I qualified? haha). So many things in my mind! I will just go with the flow for now. Actions are louder than words after all!

  6. Do you planned to venturing into film/fashion/music industry also? If yes, can disclose a little bit with us what's boiling in the pipeline?
    Well, I love singing but I don't see myself being a singer because you know there are just too many things for me to handle and I believe when you have too many things to do, you can't focus and eventually it will turn out to be a mess! Maybe in the future, who knows? As for film, I've actually acted in a Chinese movie but I do not know when it will be screening. I love trying new things but not now.. As I have classes like almost every single day of the week! :(

Wow... We are confident that Venice Min will be the name everyone of us must watch out for in the near future. She is ambitious, have a big dreams, and dare to go all out to make things happen. If Finance Malaysia want to have an advertisement in the future, Venice Min must be the person we will look for.

With this, we would like to thanks Venice Min for her valuable time spent and we wish her a great career and journey ahead. Awaiting the screening of her new movie soon. See you in the future.

You can follow Venice Min via:

Comparing Alibaba vs Amazon


28 Ağustos 2014 Perşembe

Ponderables

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A Primer on the Financial System

The Bank of England has produced a very helpful pamphlet entitled Your Money and the Financial System, which explains how the financial works, how it is regulated by the Bank, and the roles of the Bank's Financial Policy Committee and the Prudential Regulatory Authority. This pamphlet is a useful primer for students and anyone with an interest in the workings of the UK financial system.

Source: www.theguardian.com

UBER Assessed (Posted on 29 June 2014)

Now the shit stirs!!!
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Uber Technologies Inc is known as Everyone’s Private Driver. Uber operates an on-demand car service used all over the world. With the touch of a button from your phone, you can experience your own private driver.

Working as an Uber driver is one of the buzziest careers in America. With uberX, essentially anyone with a car can sign up to be a driver. And Uber makes it pretty easy to do. The first step is to head on over to this website. If you’re at least 21 years old, have a license, personal auto insurance, and a four-door car in good condition, you can sign up to be a driver. The next step is passing Uber’s background check. You’ll need to provide the company with standard information like your address, driver’s license number, and social security number. If you pass the background test, Uber requires you to take an online training course that covers standard operating procedures, how to get 5 stars, and what not to do. Upon completing the course, Uber will send you a phone. From start to finish, the registration process takes about two weeks.
Opinion: UBER just went for a fund raising among PE funds at a valuation of $17bn, yes thats amazing for a relatively simple app. UBER is now a big buzz not just in the US but even in Malaysia. This is a disruptive technology. The buzz is dying down slightly in the US because the real effective earnings of UBER drivers were not so hot. Available data showed that they gross around $15 an hour. But accounting for tolls, Uber’s 20% cut, gas, car insurance, vehicle financing, and self employment taxes, the driver really only made $54.50 for 12 hours of driving. So that’s just $4.54 an hour — far below minimum wage. 
Its still a good alternative to get that UBER spot for part timers or people who like to work when they want/need to. That's in developed nations.
 
UBER will be a lot more disruptive in developing economies with near pathetic taxi service, such as Malaysia and Indonesia. What UBER provides more readily: speed, clarity, safety, cleanliness, a workable rating system that truly incentivise the drivers, and a pay scale that is more than decent. UBER is akin to a private drivers' service that is a lot cheaper than those "private car bookings" from hotels.
The rise and rise of taxi apps in Malaysia is only reflective of apps helping the taxi system to "be more like UBER". Its a long slog but methinks in many countries the taxi drivers will be up in arms against UBER and will protest and seek the government's help to turn the tide.
What is UBER really in Malaysia... it basically legitimises the private taxi touts and louts at airports and malls. Unfortunately owners of taxi licenses in Malaysia are well connected politically, and soon we will see a clampdown on UBER.
 
As an open country that is so called MSC, MDC ... centric ... we must be open to even disruptive technologies. Yes, it may disrupt and even change the current status quo, but it is notching efficiencies and delivering a service that is "unserviced", meeting a demand that is not met, or creating new demand out of the blue. It is not all cannabalism of an existing industry. Existing taxi drivers would do well to try and be an UBER driver now. All the while, the taxi license owners will be knocking on doors of powerful politicians and crying wolf.

27 Ağustos 2014 Çarşamba

Top Tourist Scams

As the world gets to be more mobile with travel becoming more and more affordable, we need to be careful of the usual modus operandi by street smart gangs.

The “Found” Ring: An innocent-looking person picks up a ring on the ground in front of you and asks if you dropped it. When you say no, the person examines the ring more closely, then shows you a mark “proving” that it’s pure gold. He offers to sell it to you for a good price — which is several times more than he paid for it before dropping it on the sidewalk.

The “Friendship” Bracelet: A vendor approaches you and aggressively asks if you’ll help him with a “demonstration.” He proceeds to make a friendship bracelet right on your arm. When finished, he asks you to pay a premium for the bracelet he created just for you. And, since you can’t easily take it off on the spot, you feel obliged to pay up. (These sorts of distractions by “salesmen” can also function as a smokescreen for theft — an accomplice is picking your pocket as you try to wriggle away from the pushy vendor.)

Salesman in Distress: A well-spoken, well-dressed gentleman approaches you and explains that he’s a leather jacket salesman, and he needs directions to drive to a nearby landmark. He chats you up (“Oh, really? My wife is from Chicago!”) and soon you’ve made a new friend. That’s when he reaches in his car and pulls out a “designer leather jacket” which he’d like to give to you as a thank you for your helpfulness. Oh, and by the way, his credit card isn’t working, and could you please give him some cash to buy gas? He takes off with the cash, and you later realize that you’ve paid way too much for your new vinyl jacket.

Money Matters

Any time money changes hands, be alert, even when using ATMs. When dealing with the public, keep your cards in your sight, or much easier and safer, pay cash. But even paying with cash can have its challenges.

Slow Count: Cashiers who deal with lots of tourists thrive on the slow count. Even in banks, they’ll count your change back with odd pauses in hopes the rushed tourist will gather up the money early and say “Grazie.”

Switcheroo — You Lose: Be careful when you pay with too large a bill for a small payment. Clearly state the value of the bill as you hand it over. Some cabbies or waiters will pretend to drop a large bill and pick up a hidden small one in order to shortchange a tourist. Get familiar with the currency and check the change you’re given: The valuable €2 coin resembles several coins that are either worthless or worth much less: the 500-lira coin (from Italy’s former currency), Turkey’s 1-lira coin, and Thailand’s 10-baht coin.

Talkative Cashiers: The shop’s cashier seems to be speaking on her phone when you hand her your credit card. But listen closely and you may hear the sound of the phone’s camera shutter, as she takes a picture of your card. It can make you want to pay cash for most purchases, like I do.

Meeting the Locals

The Attractive Flirt: A single male traveler is approached by a gorgeous woman on the street. After chatting for a while, she seductively invites him for a drink at a nearby nightclub. But when the bill arrives, it’s several hundred dollars more than he expected. Only then does he notice the burly bouncers guarding the exits. There are several variations on this scam. Sometimes, the scam artist is disguised as a lost tourist; in other cases, it’s simply a gregarious local person who (seemingly) just wants to show you his city. Either way, be suspicious when invited for a drink by someone you just met; if you want to go out together, suggest a bar (or café) of your choosing instead.

Oops! You’re jostled in a crowd as someone spills ketchup or fake pigeon poop on your shirt. The thief offers profuse apologies while dabbing it up — and pawing your pockets. There are variations: Someone drops something, you kindly pick it up, and you lose your wallet. Or, even worse, someone throws a baby into your arms as your pockets are picked. Assume beggars are pickpockets. Treat any commotion (a scuffle breaking out, a beggar in your face) as fake — designed to distract unknowing victims. If an elderly woman falls down an escalator, stand back and guard your valuables, then...carefully...move in to help.

The “Helpful” Local: Thieves posing as concerned locals will warn you to store your wallet safely — and then steal it after they see where you stash it. If someone wants to help you use an ATM, politely refuse (they’re just after your PIN code). Some thieves put out tacks and ambush drivers with their “assistance” in changing the tire. Others hang out at subway ticket machines eager to “help” you, the bewildered tourist, buy tickets with a pile of your quickly disappearing foreign cash. If using a station locker, beware of the “Hood Samaritan” who may have his own key to a locker he’d like you to use. And skip the helping hand from official-looking railroad attendants at the Rome train station. They’ll help you find your seat...then demand a “tip.”

Young Thief Gangs: These are common all over urban southern Europe, especially in the touristy areas of Milan, Florence, and Rome. Groups of boys or girls with big eyes, troubled expressions, and colorful raggedy clothes politely mob the unsuspecting tourist, beggar-style. As their pleading eyes grab yours and they hold up their pathetic message scrawled on cardboard, you’re fooled into thinking that they’re beggars. All the while, your purse or backpack is being expertly rifled. If you’re wearing a money belt and you understand what’s going on here, there’s nothing to fear. In fact, having a street thief’s hand slip slowly into your pocket becomes just one more interesting cultural experience.

Appearances Can Be Deceiving

The sneakiest pickpockets look like well-dressed businesspeople, generally with something official-looking in their hand. Some pose as tourists, with day packs, cameras, and even guidebooks. Don’t be fooled by looks, impressive uniforms, femme fatales, or hard-luck stories.

Fake Charity Petition: You’re at a popular sight when someone thrusts a petition at you. It’s likely a woman or a teen who, often pretending to be deaf, will try to get you to sign an official-looking petition, supposedly in support of a charity (the petition is often in English, which should be a clue). The petitioner then demands a cash donation. At best, anyone who falls for this scam is out some euros; at worst, they’re pickpocketed while distracted by the petitioner.

Phony Police: Two thieves in uniform — posing as “Tourist Police” — stop you on the street, flash their bogus badges, and ask to check your wallet for counterfeit bills or “drug money.” You won’t even notice some bills are missing until after they leave. Never give your wallet to anyone.

Room “Inspectors”: There’s a knock at your door and two men claim to be the hotel’s room inspectors. One waits outside while the other comes in to take a look around. While you’re distracted, the first thief slips in and takes valuables left on a dresser. Don’t let people into your room if you weren’t expecting them. Call down to the hotel desk if “inspectors” suddenly turn up.
The Broken Camera: Everyone is taking pictures of a famous sight, and someone comes up with a camera or cell phone and asks that you take his picture. But the camera or cell phone doesn’t seem to work. When you hand it back, the “tourist” fumbles and drops it on the ground, where it breaks into pieces. He will either ask you to pay for repairs (don’t do it) or lift your wallet while you are bending over to pick up the broken object.

The Stripper: You see a good-looking woman arguing with a street vendor. The vendor accuses her of shoplifting, which she vehemently denies. To prove her innocence, she starts taking off her clothes — very slowly. Once she’s down to her underwear, the vendor apologizes and she leaves. Suddenly all the men in the crowd find out that their wallets have “left,” too, thanks to a team of pickpockets working during the show.

 40 Tourist Scams to Avoid This Summer

25 Ağustos 2014 Pazartesi

Some Nostalgic Childhood Treats & Games (Ahead Of National Day Celebrations) - Our Shared Memories, Our Shared History


















Property: Sell-Then-Build (STB) vs Build-Then-Sell (BTS)

It's been a hot discussions ever since many years back. Which one is better? Benefiting developers or house buyers?



To be announced during Budget 2015 ?

When comes to housing, current practice by various developers were the STB method. The key advantage for developer is the 10% deposit (placed by house buyers) can be used to offset a portion of interest being charged by banks for the construction costs. Moreover, it can helps developers to minimize the cash flow problem during construction period, and better still channel the funds to other housing projects. In return, the selling price during launching date might be lower to attract buyers.


However, house buyers are subject to higher risks such as untimely delivery of house, defect issues, and worst still abandoned project. These are the price that house buyers of STB method need to bear.



Anyway, given the current good economy environment and favorable interest rate, very few abandoned projects being seen for the past few years. This feel good factor implying that the risks mentioned seems to be forgotten by optimistic buyers. Please bear in mind that good times may turn into bad times, if global economy goes under water.



The Opportunists...

Due to STB method, property prices tends to run up along side with the completion date of a project. In view of the current loose liquidity, it attracted opportunists, instead of genuine buyers, to buy properties during launch date and sell it off once completed for a profit. Opportunists here refers to syndicate buyers and speculators. This had been identified as one of the reasons why property prices escalating rapidly.

The Solution is BTS ?

In order to curb these group of opportunists, some argue that BTS method was the solution. And, it can eliminate the various risks associated during construction period. In contrast, the advantages of STB mentioned above were gone. Developers would need to bear a higher risk now, and do you think that the property selling price will tick up? Definitely... This may not help, but worsen the affordability of house buyers. If BTS to be announced during Budget 2015, what's your reaction then?



Question: In your opinion, which method is better?


22 Ağustos 2014 Cuma

"Dear IT Support" from a wife ...

Best thing going viral on FB now: 




Dear IT Support,

Last year I upgraded from Boyfriend 5.0 to Husband 1.0 and noticed a slow down in the overall performance, particularly in the flower, gifts and jewellery applications that had operated flawlessly under Boyfriend 5.0.

In addition, Husband 1.0 un-installed many other valuable programs, such as Romance 9.5 and Personal Attention 6.5, but installed undesirable programs such as Formula One 5.0, NBA 3.0 and World Cup 2.0.

And now Conversation 8.0 no longer runs and House Cleaning 2.6 simply crashes the system.

I've tried running Nagging 5.3 to fix these problems, but to no avail.


What can I do?

Signed,
Desperate Housewife


 
 
Reply:

Dear Desperate Housewife,

First keep in mind: Boyfriend 5.0 is an entertainment package, while Husband 1.0 is an operating system.

Try entering the command C:\ I THOUGHT YOU LOVED ME and download Tears 6.2 to install Guilt 3.0 

If all works as designed, Husband 1.0 should then automatically run the applications Jewellery 2.0 and Flowers 3.5.


But remember, overuse can cause Husband 1.0 to default to Grumpy Silence 2.5, Happy Hour 7.0 or Late Night Teh Tarik 6.1.

Late Night 6.1 is a very bad program that will create SnoringLoudly. wav files.

Whatever you do, DO NOT install Mother-in-Law 1.0 or reinstall another Boyfriend program. These are not supported applications and will crash Husband 1.0.

In summary, Husband 1.0 is a great program, but it does have a limited memory and cannot learn new applications quickly.

You might consider additional software to improve memory and performance. I personally recommend Hot Tasty Food 3.0 and Tongkat Ali 6.9.

Good Luck,
IT Support

20 Ağustos 2014 Çarşamba

RM500 PRS Youth Incentive. What's that and How to Grab it?

While most of us already know what is Private Retirement Scheme (PRS), how about the RM500 PRS Youth Incentive? If you never heard of, you should understand it before regretting. If you already heard of, have you grab it? If no action taken yet, why?



Unveiling the BEST investment in Malaysia...


Announced during the 2014 National Budget by our Prime Minister last year, in order to encourage more youngsters to kick start their retirement savings via PRS, a one-off RM500 incentive will be given to them. We have compiled some questions posted to us and get the answers from Alex Yeoh, a licensed financial planner and corporate PRS adviser:

  1. What is PRS youth incentive?
    It's a one-off RM500 incentive if you fulfilled the following criteria:-
    ~ Malaysian
    ~ Participating in the PRS Scheme from 2014 to 2018
    Minimum RM1,000 is made within a calendar year
    ~ Aged between 20 to 30 years old when contribution is made

  2. Who can qualify for this PRS youth incentive?
    Malaysians who are aged between 20 to 30 years old (have not reached the 31st birthday) when the contribution is made.

  3. The minimum investment of RM1,000 must be made one-off ?
    No. You can accumulate it within any calendar year between 2014 to 2018 in a SINGLE PRS fund, provided that your age is still eligible to do so.

  4. My employer does contributing to my PRS account also. Can it be counted to get the incentive?
    No. The minimum of RM1,000 contribution must be from individual level.

  5. Do I have to apply for the incentive?
    No. It's automatically done by PPA and PRS providers. They will monitor the eligible accounts, compile a listing of those qualified and notify the relevant government department for the incentive.

  6. How do I receive the RM500 incentive?
    It will not given directly to you. Instead, it will be credited into your PRS sub-account A of the qualified PRS fund. Then, it will be converted into units of that fund.

  7. How often the RM500 incentive will be paid?
    Payment will be made on a bi-annual basis and PPA expects to receive and process the pay-out within 3 months from the cut off date of 30th June and 31st December. Example, if you contributed RM1,000 by December 2014, the RM500 incentive will be credited into your PRS account by March 2015.

  8. If I contributed RM1,000 each year in 2014 and 2015, how much incentive can I get?
    The incentive is on a one-off basis. Meaning each eligible contributor can only get the RM500 incentive ONCE in their lifetime.

  9. Since the eligible period is until year 2018, why should I start now?
    You can start late. The different is you will get the RM500 incentive late also. In order to let your money grow with compounded return, is it better to start early? Definitely earlier is better...

  10. Any advice to our readers here?
    Alex Yeoh: "The incentive makes PRS even more attractive now on top of the tax relief (up to RM3,000 per year) being given. My advice to you is to grab it while you are still eligible. Not everyone can get it, and worst still some of you knew this thing late and missed out. With 50% guaranteed return if you invest with a minimum of RM1,000, was there any better investment?"
With this, Finance Malaysia hope the above explanation could help readers to understand more and share it to your friends, especially those approaching 31st birthday. Once again, we like to thanks Alex Yeoh for his valuable input. You may contact him via email alexyeoh@vka.com.my for more info. Thanks.

18 Ağustos 2014 Pazartesi

Secular Stagnation (We're All Doomed!)

Vox have just released an e-book entitled Secular Stagnation: Facts, Causes and Cures. The list of contributors is impressive - Larry Summers, Paul Krugman, Barry Eichengreen, Edward Glaesar, Nick Crafts, Joel Mokyr are just some of the authors. The book's summary is here. The workable definition of secular stagnation which emerges from the book is "that negative real interest rates are needed to equate saving and investment with full employment." The main concern of the authors is "that secular stagnation makes it harder to achieve full employment with low inflation and a zero lower bound on policy interest rates."