Holistic Resources

 
  • F1’s Ecclestone in legal challenge over £1bn tax move – BBC News

    F1 boss Bernie Ecclestone goes to court to challenge the legal basis of assessments that have left him facing a UK tax claim of more than £1bn.

     
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  • Facebook’s Billionaires Club: Meet the Richest

    Facebook’s Billionaires Club: Meet the Richest   Feb. 4, 2014 (Bloomberg) — A decade of Facebook: What started in a Harvard dorm room has now made Mark Zuckerberg the twenty-second richest person in the world. He’s not the only one. Bloomberg’s “Ranx” looks at five Facebook billionaires. (Source: Bloomberg)   

     
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  • Warren Buffett & Bill Gates on Measuring Performance – Lugen Family Office

    Warren Buffett & Bill Gates on Measuring Performance, Wealth, Billionaires, Financial Crisis   Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. It can involve studying processes/strategies within organizations, or studying engineering processes/parameters/phenomena, to see whether output are in line with what was intended or should have been achieved.   Performance measurement has been defined by Neely[1] as “the process of quantifying the efficiency and effectiveness of past actions”, while Moullin[2] defines it as “the process of evaluating how well organisations are managed and the value they deliver for customers and other stakeholders”. Discussion on the relative merits of these definitions appeared in several articles in the newsletter of the Performance Management Association.[3]   Wikipedia – Performance Measurement   The wealth effect is an economic term, referring to an increase (decrease) in spending that accompanies an increase (decrease) in perceived wealth.   The effect would cause changes in the amounts and distribution of consumer consumption caused by changes in consumer wealth. People should spend more when one of two things is true: when people actually are richer, objectively, or when people perceive themselves to be richer—for example, the assessed value of their home increases, or a stock they own goes up in price.   Demand for some goods (especially Inferior goods) typically decreases with increasing wealth. For example, consider consumption of cheap fast food versus steak. As someone becomes wealthier, their demand for cheap fast food is likely to decrease, and their demand for more expensive steak may increase.   Consumption may be tied to relative wealth. Particularly when supply is highly inelastic – or in the case of monopoly – one’s ability to purchase a good may be highly related to one’s relative wealth in the economy. Consider for example the cost of real estate in a city with high average wealth (for example New York or London), in comparison to a city with a low average wealth. Supply is fairly inelastic, so if a helicopter drop (or gold rush) were to suddenly create large amounts of wealth in the low wealth city, those who did not receive this new wealth would rapidly find themselves crowded out of such markets, and materially worse off in terms of their ability to consume/purchase real estate (despite having participated in a weak Pareto improvement). In such situations, one cannot dismiss the relative effect of wealth on demand and supply, and cannot assume that these are static. (see also General equilibrium).   However, according to David Backus, an NYU economist, the wealth effect is not observable in economic data, at least in regards to increases or decreases in home or stock equity.[2] For example, while the stock market boom in the late 1990s (q.v. dot-com bubble) increased the wealth of Americans, it did not produce a significant change in consumption, and after the crash, consumption did not decrease.[2]   Economist Dean Baker disagrees and says that “housing wealth effect” is […]

     
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  • The Cab Ride by author Kent Nerburn

    There was a time in my life twenty years ago when I was driving a cab for a living. It was a cowboy’s life, a gamblers life, a life for someone who wanted no boss, constant movement, and the thrill of a dice roll every time a new passenger got into the cab. What I didn’t count on when I took the job was that it was also a ministry. Because I drove the night shift, the car became a rolling confessional. Passengers would climb in, sit behind me in total darkness and anonymity, and tell me of their lives. We were like strangers on a train, the passengers and I, hurtling through the night, revealing intimacies we would never have dreamed of sharing during the brighter light of day. In those hours, I encountered people whose lives amazed me, ennobled me, made me laugh, and made me weep. And none of those lives touched me more than that of a woman I picked up late on a warm August night. I was responding to a call from a small brick fourplex in a quiet part of town. I assumed I was being sent to pick up some partyers, or someone who had just had a fight with a lover or someone going off to an early shift at some factory in the industrial part of town. When I arrived at the address, the building was dark except for a single light in a ground-floor window. Under these circumstances many drivers would just honk once or twice, wait a short minute, and then drive away. Too many bad possibilities awaited a driver who went up to a darkened building at two-thirtyin the morning. But I had seen too many people trapped in a live of poverty who depended on the cab as their only means of transportation. Unless a situation smelled of danger, I always went to the door to try to find the passenger. It might, I reasoned, be someone who needed my assistance. Would I not want a driver to do the same if my mother or father had called for a cab? So I walked to the door and knocked. “Just a minute”, answered a frail and elderly voice. I could hear something being dragged across the floor. After a long pause, the door opened. A small woman, somewhere in her eighties, stood before me. She was wearing a print dress and a pillbox hat with a veil pinned on it, like you might see in a costume shop or a Goodwill store or in a 1940s movie. By her side was a small nylon suitcase. The sound had been her dragging it across the floor. The apartment looked as if no one had lived in it for years. All the furniture was covered with sheets. There were no clocks on the walls, no knickknacks or utensils on the counters. In the corner was a cardboard box filled with photos and glassware. “Would you carry my bag out […]

     
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