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小蘑菇开始打怪

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Part I: Speaker

Learning What Wiser Workers Know
Nov 25, 2014

Source: HBR audio
https://hbr.org/2014/11/learning-what-wiser-workers-know

[Rephrase 1, 19:01]

小蘑菇开始打怪

Part II: Speed

Why employees earn more at big-box chains than mom-and-pop shops
by SIMONE PATHE  |  12 Dec 2014

[Time 2]
Contrary to widespread belief, big-box stores and chains have increased wages in the retail sector as they have spread, according to “Do Large Modern Retailers Pay Premium Wages?” (NBER Working Paper No. 20313). Retail wages rise markedly with the size of the chain and the individual store, according to the study by Brianna Cardiff-Hicks, Francine Lafontaine and Kathryn Shaw. As retail chains’ share of establishments has risen from one-fifth in 1963 to more than one-third by 2000, the number of jobs that pay better than traditional mom-and-pop stores has proliferated.

Half of the difference in wages between large and small retailers appears to be attributable to differences in the average skill level of workers in the two groups of firms. On average, better workers find their way to the bigger companies. With more levels of hierarchy than small stores, larger establishments also allow better workers to move into management positions, increasing their pay even more.

“The increasing firm size and establishment size that are a hallmark of modern retail are accompanied by increasing wages and opportunities for promotion for many workers,” the authors write. “While retail pay is considerably below that in manufacturing, pay in retail is above that found in service jobs… [These results] contradict the image of the retail sector as one comprised of the lowest paying jobs in the economy.”

High-school graduates who work in retail firms with 1,000 or more employees earn 15 percent more on average than those who work in shops with fewer than 10 workers. The differential for those with some college education or a college degree is even more marked: pay is 25 percent higher in the larger firms. The study relied on Current Population Survey data to carry out these comparisons.

Using National Longitudinal Survey of Youth data, the authors find that the same holds true for the size of the individual store: the high-school educated earn 26 percent more at stores with 500 or more workers than at ones with fewer than 10; the college-educated earn 36 percent more.
[340 words]

[Time 3]
The pay disparities are much less dramatic when the authors control for worker quality. After this correction, they find the large-firm premium is 8 percent for high-school graduates and 11 percent for those with at least some college; the large-store premia are 19 percent and 28 percent, respectively.

The authors conclude that these “results imply that higher-quality workers are sorted into large firms and large establishments, but that working in larger firms or establishments yields additional increases in pay.”

These higher-quality workers are also often rewarded with promotions that boost their pay. The study finds that compared across different ability levels, managers make more than 23 percent more than non-managers if they have a high-school education; 20 percent more if they have at least some college.

The finding is important because the frequency of promotion to managerial positions, including first-line supervisors, is high in retail. According to data published by Glassdoor, an entry-level cashier in a Wal-Mart store earns an average $8.48 per hour, but a supervisor earns $14.38 per hour. A salaried shift manager makes $62,837 a year and a store manager earns $92,462. High-end grocery and big-box stores, such as Whole Foods and Costco, tend to pay more than other retailers. Manager pay varies substantially in the retail sector: 13 percent of managers earn $20,000 or less, but 33 percent earn more than $50,000.

Wages in the retail sector fall between those in other sectors. According to Current Population Survey data, the average hourly wage in retail is 68 percent of that in manufacturing. On the other hand, retail pays about 15 percent better than service occupations. The average hourly wage for men in non-managerial positions in retail is $16.28, versus $13.97 in services. For women, this disparity is $12.79 versus $11.15.

“The retail sector pays considerably less than manufacturing, but as the manufacturing sector has declined over time, the growth of modern retail chains has increased retail wages and provided more promotion opportunities, particularly for the more-able worker,” the authors conclude.
[335 words]

Source: Public Broadcasting Service
http://www.pbs.org/newshour/making-sense/why-employees-earn-more-at-big-box-chains-than-mom-and-pop-shops/


Work-life balance key to being the best
by Brian Amble  |  19 Jan 2007

[Time 4]
Organisations in the U.S. that want to be seen as "employers of choice" attracting the brightest and best need to be far more flexible, supportive of employees' lives outside the office and just more fun than the non-stop treadmills that many were a decade ago.

Just how far the best American employers have come in acknowledging the importance of work-life balance is clear from Fortune magazine's annual "100 Best Companies to Work For" list, from which Google emerged in top spot.

The list, compiled by research Great Place to Work Institute, found that other factors commonplace among the best companies include increased racial and gender diversity, improved internal communications and increased use of employee stock ownership programs.

"While many commentators long for the workplace of old - with fully paid health care, generous pensions and lifetime job security - we see that for many lucky employees, the workplace has never been better," said Robert Levering, co-founder of Great Place to Work Institute and co-author of Fortune's list with Milton Moskowitz.

But the biggest changes over the last decade have come in employers' attitudes towards work, family and flexibility.

For example, 72 of the top 100 employers now offer job sharing programs, compared with only 18 a decade ago. Similarly, 79 offer compressed work weeks on a year-round, regular basis, compared with 25 companies in 1998.

Technology has also had a major impact, with 82 employers embracing remote working or telecommuting today, compared with only 18 in 1998.

Cisco has the highest proportion of telecommuters, with nine out of 10 employees telecommuting or working from home at some time or other. Five other companies on the 2007 list have half or more of their workforce working remotely compared with only one 10 years ago.
[293 words]

[Time 5]
One of the least-common benefits in corporate America a decade ago was the inclusion of domestic partners and same-sex couples in benefit plan coverage. Even then, 28 of the best companies offered domestic partner insurance. Today 70 do.

These improvements also are reflected in the fact that eight out of 10 employees at Fortune's "100 Best Companies to Work For" now feel that management encourages them to balance their work lives and their personal lives — an increase of 11 percentage points from 10 years ago. A similar proportion also think their employers offer special and unique benefits today — an increase of six percentage points.

Other notable increases include an eight-point increase in employees' perceptions of management's competence and a 15-point increase in employees' perceptions of opportunities to receive special recognition.

"These improvements are a direct result of global competition," Robert Levering said. "More companies now realize that they cannot compete successfully unless they attract and hold onto the most qualified workers.

"Today's employees simply won't put up with a lousy workplace environment. And women workers, in particular, are demanding a more family-friendly milieu. So, we expect that the workplace will continue to improve as the competition for qualified workers should intensify over the next decade."

But one thing that hasn't changed over the past decade is that the best companies still outperform their peers.

According to Russell Investment Group analysis, a portfolio of publicly traded "100 Best" stocks, started in 1998 and reinvested annually to reflect changes in the list, would yield a 14.6 per cent return today, nearly triple the return of the S&P 500 average.
[267 words]

Source: Management-Issues
http://www.management-issues.com/news/3909/work-life-balance-key-to-being-the-best/


U.S. could catch Russia’s cold: Shilling
By Suzanne O'Halloran

[Time 6]
Will Russia’s economic meltdown spark another global financial crisis similar to what the world experienced in 1998? That’s the question investors are wrestling with. The Market Vectors Russia ETF (RSX) swung between positive and negative territory before closing higher Tuesday, while the S&P 500 Index (^GSPC) followed a similar pattern ending the session 0.85% lower. “The markets are telling us there is something else there,” cautions Gary Shilling, founder, of A. Gary Shilling.

There are plenty of reasons Russia is in trouble, including the fallout from the Federal Reserve and OPEC, notes Shilling. “The Fed is no longer pumping money out there, and on top of that the Saudis basically decided not to cut production and that left Russia high and dry.”

Russia derives nearly 70% of its export revenue from oil and gas which is why the 41% drop in WTI crude since January has become so perilous. The ruble has fallen more than 50% against the U.S. dollar while Russian stocks, as tracked by the SPDR S&P Russia ETF (RBL), have fallen by the same amount.

In an attempt to calm the chaos, President Putin and his central bankers raised interest rates to 17% Tuesday. It's still unclear whether those moves will prevent a contagion effect. “Does this cause real financial problems that simply spill over, do we get a big selloff in U.S. stocks? So far I don’t think that is completely clear but it certainly is possible.” said Shilling.

U.S. Secretary of State John Kerry also weighed in on Russia’s fiscal problems while speaking to reporters in London Tuesday. “It goes without saying that the purpose of the European-U.S.-et al effort with respect to sanctions was to make it clear to Russia, to President Putin, that there are costs attached to the unilateral annexation of Crimea and the continued support for separatists within Ukraine.”  
[308 words]

Source: Yahoo Finance
http://finance.yahoo.com/news/will-the-u-s--catch-russia-s-cold--203719563.html

小蘑菇开始打怪

Part III: Obstacle

The future of global payments
November 2014 | byPhilip Bruno, Florent Istace, and Marc Niederkorn

[Paraphrase 7]
Robust growth has returned to the global payments industry. After a fallow period following the financial crisis of 2008, we forecast payments revenue will grow by 8 percent each year through 2018, at which point annual revenue will reach $2.3 trillion and account for 43 percent of all banking-services revenue, compared with 34 percent in 2009 (exhibit).

Exhibit

Payments revenue is forecast to make a return to healthy growth.

The Asia–Pacific region, including China—which currently accounts for the largest share of payments revenues (40 percent)—will continue to be the engine of growth. It will comprise 56 percent of the global increase in revenues during the next five years, with China alone accounting for 40 percent of the global increase. However, Western Europe and developed Asia, where growth rates have been negative in recent years, will also rebound. Cross-border payments and trade finance will benefit in the coming years as well, driven by the strong recovery expected in trade flows (which have a projected compound annual growth rate of 8 percent from 2013 to 2018).

This return to strong growth is being fueled primarily by sustainable volume increases, rather than less sustainable improvements in revenue margins, for both liquidity revenues (net interest income on liquid assets and deposits ) and transactional revenues (fee and float income on payments transactions). Indeed, margin improvement will barely contribute to the $410 billion increase in liquidity revenues between 2013 and 2018. Transactional revenues will increase by $340 billion by 2018 due to higher transaction volumes, despite the dampening effects of more regulation and competition.

A number of trends indicate that payments-industry incumbents will need these strong winds at their back. The signs of health have not gone unnoticed by players outside the industry, from digital attackers to established giants, a number of which are making forays into the payments space and sparking transformation. The emergence of digital technology is leading to faster and more convenient payments solutions and a subsequent rise in the expectations of both retail-consumer and commercial clients. We expect five disruptive forces to reshape the payments landscape over the next three to five years:

•        The continuing digital transformation of merchant payments. The rapid adoption of smartphones and tablets is leading to a convergence of the offline and online world, further opening the value chain to innovative outsiders, large and small. While we project that merchant-payments revenue could double in size thanks to new digital solutions and access to untapped revenue pools, will incumbents be nimble and innovative enough to tap into a significant share of this growth?

•        The shift in power from data accumulation to data insights and applications. Banks Banks historically have had the advantage of access to their customers’ data and share a tradition of analytic innovation in areas such as fraud prevention and risk management. However, in recent years, innovative digital firms have taken a nontraditional approach to data—in fact, they have redefined data—combining new sources (such as social networks and location-specific data) to create fresh market insights and new products. The challenge for banks is to shift from their traditional heavy reliance on siloed, proprietary data to a more open approach that encompasses a broader view of customers.

•        The advent of noncard real-time payments. A number of countries have already upgraded traditional payments infrastructure or announced plans to do so, setting the stage for innovations in products and services, particularly in the shape of noncard real-time payments. We believe real-time payments could accelerate the war on cash and create an additional revenue pool of $80 billion by 2018 through the replacement of cash transactions with electronic transactions. Unlocking the true potential of this market requires players to identify compelling customer use cases and workable economics.

•        Rapid growth and digital transformation in cross-border transaction banking. Revenue from cross-border transaction banking is tied closely, of course, to trade flows, which have experienced moderate growth over the past three years. While we expect trade flows during the next five years to revert to their historical pattern of outpacing GDP growth—and for transaction banking revenue to rise correspondingly—customers are seeking simpler, more transparent cross-border commerce solutions. For banks, capturing that growth requires understanding shifting trade flows and an increasingly complex web of regulations.

•        Payments will be a cornerstone in the next phase of digital banking. McKinsey research forecasts that more than 50 percent of incremental revenue in almost all banking products in Western Europe will be digital by 2018. The next challenge for payments providers is developing a deeper understanding of customer needs and behaviors—both in the banking and nonbanking facets of their lives.
[769 words]

Source: Mckinsey
http://www.mckinsey.com/insights/financial_services/the_future_of_global_payments

wensd1111

1 A 01:42
2 A 02:00
3 A 01:29
4 A 01:23
5 A 01:38
6 A 04:12

rita-schumi

2. 2:00
3. 2:04
4. 1:31
5. 1:38
6. 4:24

Alpha4Dream

一边给朋友申请学校帮忙开着视频一边做小分队阅读真会分心...这成绩....不过也是对自己抗干扰的一种锻炼啦
喜欢这种讲时事的阅读，大爱~ 谢楼楼
Time 2                         00:03:56.30       
Time 3                        00:03:38.94
Time 4                         00:03:21.83
Time 5                         00:03:02.10
Time 6                        00:05:00.87
Paraphrase 7                00:08:52.65

cyndichiang

Speaker
1. We also should have knowlodges at person level in business world
We are learned to drow map of big data so knowledge is still crucial
2. Company's reputation comes from knowledgeable experts
3.What technologies can be invented to transfer knowledges through OPPTY
4.learners don't always know the best way to entrench their knowledges.
5.willingness of sharing
6.downside? comers have better ways? : critical ,cannot clone

Obstacle 5'11''
Payment has been increase since 2008,indicating a trend of strong growth
Five predicable forces that could reshape the payment landscape
1.continued digital transformation  2.data accumulation-->data application and insight
3.the advent of noncard payment  4.digital transformation across border  5. the next phase of digital banking

HaiqingYU

Thanks for sharing:
[Time 2]03:02
Due to higher skills needed in chain retail store, employees are paid more and have more chance of promotion in chain store than mom-pop store.
[Time 3]02:17
Retail sector pays less than industry sector, but remains more chances for able persons.
[Time 4]02:02
With the tech, employees view towards work has changed.
[Time 5]01:43
Best companies outperform their peer company.
[Time 6]02:06
[Obstacle]05:14
Global payment industry saw robust increase in recent years.
5 aspects expected in this industry.

aviva9393

1. The big-bix chain pays much more than the mom-and-pop stores. The employees from big companies get higher salaries than the small one.

2. People with higher degrees have more opportunities to be promoted. Besides, retali sector has more opportunities and growth than manufacture sector.

3. How to be a good employers? Except for some common factors that almost all good companies take into consideration, now companies care for the balance among life, family and work.They scheduled the shorter working period and developed the technology to realize the remoting communication.

4.This part indicates some improvements of companies noticed by the employees. However, one thing that hasn't changed over the past decade is that the best companies still outperform their peers.

5.This part introduces the conditions of Russia now and what the President Putin has done to calm the chaos. The Secretary of State John Kerrt said that it's the cost of doing the wrong things.

6.4.48  

aviva9393

cyndichiang 发表于 2014-12-19 06:54
Speaker
1. We also should have knowlodges at person level in business world
We are learned to drow m ...

你好~~可以问一下obstacle嘛？~有点点疑问~ 最后那个five forces是会影响第一段预测的那个growth of payments嘛？不理解最后那5 个force和前面的关系~~谢谢啦！！