【每日阅读训练第四期——速度越障9系列】【9-13】经管

bank11

Bank决定退休啦~希望更多活跃的小分队成员能加入工作组的阵营~想要为大家服务的CDer都可以报名~因为bank这几天在外地，想要加入小分队的童鞋们联系猴老大~谢谢大家谢谢猴老大~~
【速度】
Rajat Gupta
McKinsey, Goldman, jail
Oct 25th 2012, 6:22 by T.E. | NEW YORK
[attachimg=595,335]108860[/attachimg]
【计时一】
RAJAT GUPTA'S life has always been rich in symbolism. After immigrating to America from India, Mr Gupta rose quickly in the business world. He became head of the world’s most prestigious consultancy, McKinsey. He held multiple board memberships, including at Goldman Sachs. And, finally, he was convicted of insider trading and sentenced on Wednesday to two years in jail and a $5m fine.
It could've been worse for Mr Gupta. Based on America’s sentencing guidelines, which needn't be followed, he faced a jail term four times as long. But Judge Jed Rakoff did not dwell on the monetary implications of his crime (which weigh heavily in the guidelines), and acknowledged Mr Gupta’s numerous philanthropic efforts. “Mr Gupta is a good man", said Judge Rakoff. "But the history of the country and the world is filled with good men who do bad things."
The bad thing Mr Gupta did was pass confidential information, disclosed only to the board of Goldman Sachs, to Raj Rajaratnam, a hedge-fund manager. Judge Rakoff was particularly concerned about one incident that occurred when the financial markets were in turmoil. On that day Goldman received a critical infusion of $5 billion from Warren Buffett’s Berkshire Hathaway. Within minutes, Mr Gupta was found to have tipped off Mr Rajaratnam, allowing him to trade ahead of the public disclosure.
Unlike in May, when the jury determined Mr Gupta’s guilt, there were no tears on Wednesday and, after a delay, even some smiles. Judge Rakoff and Mr Gupta himself referred to the huge cost of a destroyed reputation, as well as the damage done to the various entities associated with Mr Gupta. But there was also some relief over the sentence.
【281】

【计时二】
In a decision that will engender discussion over how to best confront white-collar crime, Judge Rakoff said he did not feel obligated to deter Mr Gupta, but did acknowledge a need for general deterrence, particularly since insider trading is easy to commit and hard to detect. He cited studies showing that even relatively light sentences could send a strong message to business people, as opposed to more “hardened” individuals. He also suggested that there was more to the internal sentencing report than the public had seen.
In terms of Mr Gupta's immediate fate, an appeal will be filed on four grounds, three tied to testimony that Judge Rakoff blocked from being heard, and one stemming from wire-taps that Mr Gupta’s legal team claim were inadmissible. The missing testimony encompassed character witnesses, information about Mr Gupta’s soured relationship with Mr Rajaratnam, and, most intriguingly, the potential role of another person at Goldman who could have provided insider information. None of the claims, ruled Judge Rakoff, were strong enough to delay incarceration, which he scheduled for January 8th. Delays in the appeals court makes it highly unlikely that the case will be heard before Mr Gupta’s time is served.
【197】

Viewpoint: Why disruption is good for business
By Genevieve Shore
【计时三】
The tough economic and business climate, while dispiriting to some, has highlighted the resilience and creativity of many UK businesses. It has enabled many media companies to make tough decisions, changes and investments to position them better for the future.
It has been a period of boom for technology and creative-industry start-ups.
It is no coincidence that the UK's innovative creative industries constitute one of the fastest-growing sectors in the UK. They now contribute 6% of gross domestic product (GDP) and employ more than two million people.
The internet economy contributed £121bn to the overall UK economy in 2010, according to research by Boston Consulting Group. This is projected to rise to £225bn - 12.4% of GDP - by 2016. It's potentially an area of real competitive advantage for the UK.
It means companies can move more quickly, be more radical in our approach to digital, and more courageous.
Why? The perfect storm of economic and structural disruption has gone on unabated as the media industry continues its inexorable shift from print to digital delivery. It has forced many of us to make hard-headed choices and challenge our traditional business models.
Consumerisation of learning
In news publishing this has meant the creation of online paid-content strategies or the free distribution tactics of magazines such as Time Out, Shortlist and Index Trader.
In consumer publishing, "self-publishing" has come of age and the value of UK digital fiction sales in the first half of 2012 was up 188% on the same period in 2011, just showing how rapidly readers and publishers are embracing e-books.
In education, we are finally seeing what a personalised education looks like and how effective it can be.
These new technologies and, more importantly, a far better understanding of the data behind them have allowed organisations to get closer to their customers, and understand them better. Strategy should now be all about adding services to content, usually enabled by software that makes the content more useful, more personal and more valuable.
【333】

【计时四】
As we witness the consumerisation of learning, students and teachers increasingly expect simplicity, beauty and flexibility on any device. This shift is enabling education technology companies to fulfil the call in education for on-demand, highly targeted and relevant online learning and open resources.
The smart use of data is now crucial in personalising courses and services and proving that they work, and with lower costs of entry that could be anywhere in the world, including China, Brazil and India. These faster growing global economies are also where the appeal of British creative brands is particularly strong.
Rolls-Royce illustrates this shift to a service. When you buy a Rolls-Royce engine, you don't buy a product, you buy the promise of a working engine for a number of years. Rolls-Royce monitors the engine remotely, gets parts to airports around the world and constantly innovates.
In education, we should no longer just provide a textbook, but a service and a similar promise to help raise achievement through course content, software and assessment.
To do this, we need to invest in systems - software and resources that create and deliver engaging interactive courses, monitor use, effectiveness and engagement in new ways and share that information with teachers and educators.
Finding smart people
This turbulence and pace of change has also led many organisations to revisit the nature of how they innovate.
From Downing Street to the Massachusetts Institute of Technology to Google, organisations and governments the world over are opening up to better engage with their audiences and customers and tap into external resources to fuel innovation.
They recognise that to keep pace in an increasingly competitive, dynamic and digital marketplace is also to challenge the traditional model of developing new ideas.
No one company can have a monopoly on the talent available across our amazing world, and we can be more effective at innovating if we leverage great minds inside and outside our company. In fact, this is just common sense. It's about finding smart people, partners and customers wherever they may be who can positively impact on your business and its customers.
【350】

【计时五】
Executing this strategy successfully relies on becoming a more open organisation. The benefits include continual and fast innovation, increased sales, reach, customer satisfaction and engagement. We can all be more competitive, disruptive and unpredictable.
Open technology should be embraced to aid the exchange of content, data and code. Application programming interfaces - know as APIs - increase our reach and sales by bringing in third parties to help distribute products, often through new channels and to new audiences.
For example, if a third-party developer can add spice to a recipe in one of our Dorling Kindersley cookbooks, we welcome it (as, we think, will the taste buds of our customers).
A central repository of code, like GitHub, can be repurposed across an organisation or network. Code and services can be offered back to the open source community and with tools to manage and analyse student data for any start-up to use.
These are turbulent times for any industry, but especially those companies trying to stand still and defend. This is not a freak storm that will soon give way to calmer waters.
This kind of disruption is the new reality. It might not always provoke us to change course, but it will help us all to get where we want to be far more quickly than we originally hoped.
【219】

【越障】
Free exchange
Game, set and match
Alvin Roth and Lloyd Shapley have won this year’s Nobel for economics
Oct 20th 2012 | from the print edition
[attachimg=595,335]108859[/attachimg]
IN MOST countries it is illegal to buy or sell a kidney. If you need a transplant you join a waiting list until a matching organ becomes available. This drives economists nuts. Why not allow willing donors to sell spare kidneys and let patients (or the government, acting on their behalf) bid for them? The waiting list would disappear overnight.

The reason is that most societies find the concept of mixing kidneys and cash repugnant. People often exclude financial considerations from their most important decisions, from the person they marry to the foster child they adopt. Even some transactions that do involve money are not really about price. Universities in America do not admit students based on who pays the most, for example. Rather, they select students based on complex criteria that include grades, test scores and diversity. Similarly, students choose their university on more than just financial factors.

Money is not essential to a market. After all, economics is about maximising welfare, not GDP. But the absence of a price to allocate supply and demand makes it harder to know whether welfare is being maximised. This year’s Nobel prize in economics went to two scholars—Alvin Roth, who has just joined the economics department at Stanford University, and Lloyd Shapley, a retired mathematician at the University of California, Los Angeles—who have grappled with that very problem.

In 1962 David Gale (who died in 2008) and Mr Shapley, now 89, published a playful paper called “College Admissions and the Stability of Marriage”. They noted the similarity between college admissions, in which students and universities are trying to pair up to their mutual satisfaction, and the marriage market, in which a fixed number of men and women are trying to find a match. In romantic comedies, each man and woman marries their own true love. In real life, some people settle for second-best, which can lead to lots of trouble. If John and Mary love each other but are married to other people, they will be tempted to leave their current partner and marry each other. But if John loves Mary, while Mary loves her husband more than John, both will stay put.

Mr Gale and Mr Shapley devised an algorithm for matching an equal number of men and women that would guarantee this second, more stable outcome. Each man and woman ranks their preferred partners. Each man proposes to his highest-ranked woman. Each woman rejects all the proposals she gets except the highest-ranked among them. But she does not accept the proposal, in case a man she prefers even more proposes next time. The algorithm is rerun until all women have a satisfactory proposal.

Sadly, “co-operative game theory” has not yet had the opportunity to transform the marriage market. But Mr Roth spotted practical applications in other areas. In the 1940s the competition for new doctors sometimes saw hospitals making offers to students years before they graduated and thus before their qualifications were truly known. The National Resident Matching Programme was devised to match doctors to hospitals in a way that maximised their satisfaction. This programme, Mr Roth noted in a 1984 paper, was a real-life example of the “deferred-acceptance” algorithm of Messrs Gale and Shapley. The tests of a well-designed market are that participants are satisfied enough that they don’t go around it, and that there is little incentive to game the system—by, for example, lying about their preferences. This was true of the resident-matching programme, Mr Roth said.

Other systems worked far less well. Both the New York and Boston public-school systems used to assign students according to their preferred choices, but students often had to decide before knowing all their options. Thousands ended up at schools for which they had expressed no preference. Mr Roth helped both design algorithms that significantly reduced these mismatches.

He also applied his expertise to organ donation. A man who would not donate a kidney in other circumstances may do so if his wife needs one. If their blood types do not match, they can be paired with a couple in the mirror-image position. The New England Programme for Kidney Exchange, which was partly designed by Mr Roth, incorporates much more complex chains of donors and recipients and raises the supply of kidneys by making a donor more confident his loved one will find a match.

I love you, subject to the next algorithm
In time the internet could make formal matching systems viable for even more transactions. Existing systems cannot always be improved upon, however. Utku Ünver at Boston College, who helped develop the kidney-exchange programme with Mr Roth, points to the allocation of law students to federal-judge clerkships. Judges have complete control over whom they hire, and many students to choose from, so there are fewer benefits to a formal clearing-house system. When economics departments hire new PhDs, their preferences are too difficult to codify in a matching system. And in many cases such systems should only facilitate transactions, not execute them. Mr Unver and his colleagues are developing a way of recommending foster children to adoptive parents in Pennsylvania, but the final decision is left to social workers and the families.

In their 1962 article Mr Gale and Mr Shapley noted that their algorithm was not particularly complicated, illustrating a larger point about their discipline: “any argument that is carried out with sufficient precision is mathematical.” The recognition of Mr Shapley’s and Mr Roth’s work is also a reminder: that for all the bad press economics has received since the crisis, the discipline still brims over with insights that can solve real-life problems.
【962】

miffyhui

占，谢谢bank~

fpd

谢谢楼主~
2:11
1:36
2:45
2:57
2:15
越障明天早上再做

2012Michelle

占位，谢谢Bank！

fpd

obstacles：
11:15

1.kidneys is not easy to get, then someone advocate why not put it out and let others bid for it?

2. the writer said it's not a thing related to price  and then he list serveral examples.

3. so it's money to the market??  a little bit vague.

4.-8  two scientists made a theory and used it in other areas.

9-10  his theory used in kidney.

yqhpsyche

感谢bank的付出~~

speed
1'35
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obstacle  7'22

1.Patients willing to receive kidneys wait in line rather than bid for one because kidney is not cash repugnant and it can not be judged only by money.

2.Money is not essential to a market because economics is about maximising welfare instead of GDP.

3. Mr Gale and Mr Shapley, a noble prize owner, cited college admission and marriage matching as examples to illustrate that under some circumastances, money dose not play a determing role. And they did an experiment to prove their view.

4.Mr Roth, another novle prize owner applied "co-operative game theory" to both job market and organ donation and found out that it works better in job market than in other areas.

2012Michelle

1'33"
Mr. Gupta was facing jail problem because of his confidential releasing activity. Gupta immigrated from India and was successful in Amrecian business world in the past year.
1'13"
Mr. Gupta was considered about inside trading because he released some inside information that was different from public reports.
1'55"
Disruption can create new business opportunities on Internet. In the U.K., companies are hiring people to join their online commercial industry. One of the opportunities is digital media, such as online books.
1'48"
The digital market place is filled with competitions. The online sources of education offers services more than just text books. In the emerging field of digital sources, the industry needs to find more talent people. The competition is stronger than traditional mode.
1'31"
The new business mode needs the technology to be open, including content, data and code. It is to embrace customer need and satisfy and engage customers.

Obstacle 5'21"
Main Idea: It is complex to get perfect match
Author's attitude: The existing match system needs to be developed.
Article structure:
1) Phenomenon: Kidney exchange is illegal in many countries. There a waiting list exist for those sellers and buyers, for waiting the matching organs.
2) Further explanation of "how the current match system is working":
-- Example #1: Universities do not celect students depends on their peyments of tuition. Meanwhile, students choose univresities based on their own willing, future plans...
-- But, this "game concept" does not fit marriage. Men and women try to find their second best rather than whom they love.
3) Conclusion: The nowaday's matching system is not good enough to do the "perfect match" for people, including kidney match. It cannot handle the real-life problems.

铁板神猴

哦~ 这么快~ 辛苦bank同学了

bank的岗被迅速的敲定由angela同学担任啦~~感谢大家的付出~~ 小分队的大家都太可爱了~！

ENJ0Y

thx a lot......
1.34
1.21
2.12
2.22
1.2
5.43

xiaodiehoo

Main Idea: It is complex to get perfect match
Author's attitude: The existing match system needs to be developed.
Article structure:
1) Phenomenon: Kidney exchange is illegal in many countries. There a waiting list exist for those sellers and buyers, for waiting the matching organs.
2) Further explanation of "how the current match system is working":
-- Example #1: Universities do not celect students depends on their peyments of tuition. Meanwhile, students choose univresities based on their own willing, future plans...
-- But, this "game concept" does not fit marriage. Men and women try to find their second best rather than whom they love.
3) Conclusion: The nowaday's matching system is not good enough to do the "perfect match" for people, including kidney match. It cannot handle the real-life problems.

-- by 会员 2012Michelle (2012/10/27 15:12:16)

我的越障为什么就写不出这么多这么清晰呢...要怎么练才能练成这样啊... TAT