Search Results for: business

The Complicated Business of Placemaking in a Place That Already Exists

Longreads Pick

At its peak in 1960, Gary boasted a population of 180,000. Today, there are 100,000 fewer people spread across a city footprint slightly larger than Boston’s, and investment is desperately needed. Can an innovative Chicago artist, armed with a large grant from the Knight Foundation, develop the city into a culinary destination?

Source: Next City
Published: Sep 21, 2015
Length: 16 minutes (4,236 words)

‘We Value Experience’: Can a Secret Society Become a Business?

Absolute Discretion
Photo by Bill Gies

Rick Paulas | Longreads | September 2015 | 31 minutes (7,584 words)

 

The bespectacled man with short-cropped hair stood up.

“Can I ask a question!” the man shouted, vocal cords straining. The audience turned. They were all members of The Latitude, a secret society based in the San Francisco Bay Area. Read more…

The Sale of the FT and an Oral History of the News Business

The FT Group, which includes standout business newspaper the Financial Times, is being sold for $1.3 billion to Nikkei, Japan’s largest media company. Established in 1888, the FT has been lauded for its digital transition as the newspaper industry has declined. “Riptide” is an oral history project that was first launched in 2013 about what “really happened to the news business,” by John Huey, Martin Nisenholtz, Paul Sagan, and John Geddes—and it includes an interview with a former FT.com managing director about its beginnings on the web in 1995, and its decision to start out as a free website:

I have to say, I think, in the early stages, free was the only way that people knew how to do it. Just from a technical point of view, a free website is the path of least resistance. All you need is a CMS and an ad server and, hey, you’re in business. The other element within this was, I think that the leadership at the “FT,” and I think at publishers across the market as a whole, simply didn’t really understand some of the long term strategic implications of this stuff.

They understood that they needed to be involved in the Web, but I don’t think anybody had really thought through how was this going to play out, and at the time, it was a really pretty small part of the business.

They were presented with a proposition that said, “The quickest, easiest, simplest way to do this is a free website, and we’ll make the money through advertising.” That ticked the boxes, so that’s the way everybody went.

I don’t think there was a point where the whole industry sat down and decided, they compared all the models and advertising was the way to go. As I say, it simply was the path of least resistance.

The “FT,” had a reassessment on this, around about 2001, when the dot com bubble started bursting. At that point, we had noticed that there were some issues for us as an organization with the advertising model.

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The Big Business of the Grateful Dead, Circa 1974

Since the early days, the Dead have also grown into a corporation and an independent record company with well over thirty people on the payroll. Their hardcore San Francisco audience may still be locked into a 1967 consciousness, but the Grateful Dead operation is Big Business and strictly 1974. Why, Weir and Garcia have even been known to sport Nudie suits on stage every now and then.

Cameron Crowe, writing about the Grateful Dead for Creem Magazine in 1974.

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The Benefits of Being No. 2 in Business

Back in the early 1960s, also-ran Avis — a smaller, less successful business than Hertz — decided to run a new advertising campaign, one that embraced its market position rather than trying to change it. “When you’re only No. 2, you try harder. Or else,” the company’s advertisements read. Avis’s initial business insight was to locate its cars at airports, not in downtowns, but its most ingenious one was to play up its inferior position. It focused on its newer fleet and better customer service, promising, “We’re always emptying ashtrays,” and “Since we’re not the big fish, you won’t feel like a sardine when you come to our counter.” The strategy worked: The company moved from the red to the black and expanded its market share — even, within a few years, coming close to beating Hertz.

It makes sense: Differentiate in order to compete. Upscale or downscale. Don’t go head to head. And so Lyft is driving away from it again — or, rather, doubling down on what made it different in the first place. “We’ve gotten to or are getting to scale in all our cities,” Zimmer told me. “What’s the next experiential push that helps us realize the broader vision?”

—What’s next for ridesharing’s biggest underdog? Annie Lowrey takes a look in “Can Lyft Pull an Avis?” in New York magazine.

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A Business Journalism Classic: Inside the Multibillion-Dollar Takeover Battle for RJR Nabisco

Everyone in the room knew about leveraged buyouts, often called LBOs. In an LBO, a small group of senior executives, usually working with a Wall Street partner, proposes to buy its company from public shareholders, using massive amounts of borrowed money. Critics of this procedure called it stealing the company from its owners and fretted that the growing mountain of corporate debt was hindering America’s ability to compete abroad. Everyone knew LBOs meant deep cuts in research and every other imaginable budget, all sacrificed to pay off debt. Proponents insisted that companies forced to meet steep debt payments grew lean and mean. On one thing they all agreed: The executives who launched LBOs got filthy rich.

“The wolf is not at the door,” Johnson said. No corporate raider was forcing him to do this. “This is simply the option that I think is best for our shareholders. I believe it is a doable transaction, and it can be done at prices much higher than the present stock price. We’re not far enough along this road to make firm conclusions or make a proposal at this point, though.”

Johnson stopped a moment and looked at each of the directors: mostly current and retired chief executives, their median age was sixty-five. They had given him a free hand running RJR Nabisco, and hadn’t objected when he wrenched it from its century-old North Carolina home and transformed it into a monument to nouveau-riche excess. But they had struck down his predecessor for lesser transgressions than the one he was now committing.

“I want you to understand one thing,” Johnson continued. “You people will have to decide. If you think this isn’t the answer or there’s a better idea, there will be no hard feelings. I just won’t do it. There are other things I can do, and I’ll do them. We’ll sell food assets. We’ll buy back some more of our stock. I have no problem walking right back upstairs, going to work on plan B, and no hard feelings.”

Silence.

Vernon Jordan, the civil rights leader cum Washington lawyer, was the first to speak. “Look, Ross, if you go ahead with this thing, there’s a real likelihood this company is going to be put in play. Somebody might come along and buy this company for more than you can pay. You might not win. I mean, who knows what could happen?”

—From 1989’s Barbarians at the Gate: The Fall of RJR Nabisco by journalists Bryan Burrough and John Helyar. Their bestseller followed the multiple players involved in the 1988 bidding war for the tobacco and food giant, which resulted in its $25 billion leveraged buyout, at the time the largest in history.

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The Art and Business of Book Covers

Longreads Pick

Here are pieces I’ve enjoyed, new and old, about the art and business of book cover design.

Source: Longreads
Published: Jun 10, 2015

The Art and Business of Book Covers

When I moved out of my previous home, I donated more than three-fourths of my book collection because I was moving into a tiny space. I had no logical process for deciding which books I kept. Some were sentimental, with handwritten notes written inside; others were souvenirs I bought during my travels. These books seemed obvious to keep. Yet I was also inclined to keep hardcovers I’d never read or even opened, simply because the covers were attractive. All of these books, together, would represent my best self — the one I wanted to display on my shelves.

As I read more online, and since my physical shelf space has dramatically shrunk, I wonder: what makes an eye-catching, effective book cover? Which books will make the final cut?

Here are pieces I’ve enjoyed, new and old, about the art and business of book cover design.

1. “Judge This: The Power of First Impressions.” (Chip Kidd, Medium, June 2015)

In this excerpt from his new book, Judge This, Chip Kidd explains that balancing clarity and mystery is important in design, and shows how both elements informed the covers he designed for books by Oliver Sacks, Harry Kramer, Haruki Murakami, and David Sedaris.
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The Big Business of International Kidnapping

Photo via Risks Incorporated

As we drive to an office in nearby Pembroke Pines, Wilson briefs me on the bourgeoning business of international kidnapping. The White House’s recent acknowledgment of the accidental killing of two al-Qaida hostages in Pakistan in January, as well as the dark news from Syria in recent months, both overshadows and underscores the fact that kidnappings are a global scourge. As incidents have increased worldwide, a parallel industry has emerged, one that includes insurance companies, negotiators, lawyers, and security firms like Risks Inc. In a 2010 investigation, London’s Independent newspaper dubbed this the “hostage industry,” and estimated its worth at about $1.6 billion a year.

“You don’t have to be rich. People will kidnap you for next to nothing,” Wilson says. “Venezuela is out of control. Mexico is out of control.” Most of his clients for the Florida course are executives or wealthy individuals who live in high-risk areas, primarily in Latin America. (Wilson also offers the course in Belgrade, Serbia.) Other students have included American businessmen who travel to potentially dangerous locations, security contractors, and an international yacht captain. (Lambros Y. Lambrou, a trial lawyer in Manhattan and a father of two, took Wilson’s kidnap course to help ensure his family’s safety when they travel to countries like Mexico and Serbia, where his wife is from. “We live in a very uncertain world sometimes,” Lambrou says. “Unfortunately, most of the time the only person you have to protect you is yourself.”)

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The Story Business: Four Stories About Independent Bookstores

Photo by Omar Bárcena

“Job title: bookseller.” Every time I sneak a glance at the sheaf of employment forms and tax information, I can’t believe it. That job title is mine, now. It’s a lifelong dream come true, as cliche as that sounds. True to millennial form, I’m going to do Online Things for my local indie: blogging, tweeting, research. It’s another step in my quest to own a bookstore of my own one day—now, I can stop daydreaming and see if this is really something I’m cut out for. Wish me luck! To prepare for my first staff meeting, I read these four essays about independent bookstores, specifically their employees: shelvers, sorters, owners, publicity directors and more. Read more…