Toyota's Prius, DEALBOOK

Japan incentives make Prius No. 3 best-selling car
San Francisco Chronicle
Toyota's Prius, a niche oddity when it went on sale 15 years ago, jumped to the world's third-best-selling car line in the first quarter as US demand and incentives in Japan turned the hybrid into a mainstream hit. Prius sales more than doubled as ...

TODAY'S TOP HEADLINES

M & A KPN Rejects America Movil's Official Bid INVESTMENT BANKING Morgan Stanley Said to Meet Resistance to Derivatives Plan PRIVATE EQUITY Pep Boys Terminates Sale to Private Equity Firm HEDGE FUNDS Gupta Trial Centers on P.&G. OFFERINGS Felda Global of Malaysia Said to Eye $3.2 Billion I.P.O. VENTURE CAPITAL Middle East Start-Ups Attract Global Interest LEGAL/REGULATORY Embracing Finra, 'the Devil We Know' TOP STORIES Dewey Hopes to Resolve Bankruptcy Quickly As Dewey & LeBoeuf began its bankruptcy proceedings on Tuesday, its advisers said their aim was to speed the failed law firm through Chapter 11. Among the chief near-term goals of Dewey advisers is reaching an agreement to recover money from some of the firm's former partners, many of whom departed earlier this year amid fear about their employer's financial health. That exodus drained Dewey of revenue and the confidence that the firm would survive. Albert Togut, a lawyer representing the Dewey estate, said in a hearing on Tuesday afternoon in federal bankruptcy court in Manhattan that the firm was working on a settlement, which could resolve a legal matter that could otherwise take years to figure out. He declined to give details after the hearing. Still, a settlement is likely to take time. Mark C. Zauderer, a lawyer representing about 50 to 60 former Dewey partners, said in court that he and his clients had not heard what the basis of such claims would be. DEALBOOK » For Private Equity, Fewer Deals in Leaner Times It is not easy being a private equity firm like the Blackstone Group or Kohlberg Kravis Roberts these days. Not only do you have to worry about being dragged through the mud in a presidential election, but the business isn't the money machine it used to be, Steven M. Davidoff writes as the Deal Professor. In the years leading up to the financial crisis, private equity dominated the takeover market, taking advantage of cheap credit and investors begging to participate. In the first half of 2007, according to Dealogic, the industry accounted for more than 18 percent of announced takeover volume in the world. It all came crashing down, and last year private equity accounted for a bit less than 7 percent of total global takeover volume, according to Dealogic. If private equity's recovery from the financial crisis has been fitful, its future looks uncertain. One of the industry's biggest problems is that it has too much money to invest. According to Preqin, private equity firms had at the end of last year about $900 billion worth of "dry powder," or money that they raised mostly before the financial crisis and still needed to invest. At current takeover rates, this would take almost a decade. DEALBOOK » M & A Marubeni of Japan to Buy Gavilon for $3.6 Billion INVESTMENT BANKING How a Hedge Fund Manager Harpooned the London Whale PRIVATE EQUITY Moody's Predicts Defaults in European Buyouts HEDGE FUNDS London Hedge Fund Chief Fined $4.7 Million OFFERINGS Facebook's Debut Stokes Fears of the Stock Market VENTURE CAPITAL In Cambodia, a Start-Up Combines Web Sales Skills and Hair Extensions LEGAL/REGULATORY Madoff Case Is Paying Off for Trustee ($850 an Hour) TOP STORY Dewey & LeBoeuf Files for Bankruptcy Dewey & LeBoeuf, the law firm crippled by financial miscues and partner defections, filed for bankruptcy on Monday night, punctuating the largest law firm collapse in United States history. The filing, made in federal bankruptcy court in Manhattan, is the final chapter in a turbulent period for Dewey, which came apart after disappointing profits and prodigious debt forced it to slash partners' salaries. The partners, already owed millions from previous years, grew concerned over the firm's finances and their ability to get paid. A partner exodus destroyed the firm. Dewey announced Monday that the firm planned to liquidate. It said it would ask about 90 employees to remain on staff to assist in the wind-down of its business. The firm has $315 million in liabilities, of which $225 million is owed to its banks, according to the court filings. Other creditors include the firm's landlords and former partners owed money. "This is a very sad day for the legal profession," said Richard J. Holwell, a former federal judge in Manhattan now in private practice. "Dewey is a fabled firm with a lot of great lawyers and a demise of this magnitude is unprecedented." DEALBOOK » P.&G. Takes Center Stage at Gupta Trial Prosecutors contend that Rajat K. Gupta told Raj Rajaratnam about two different Procter & Gamble secrets: the sale of its Folgers coffee business in 2008, and its announcement about disappointing sales growth in 2009. DEALBOOK » FRIDAY, MAY 25, 2012 TODAY'S TOP HEADLINES M & A Delphi Automotive in Talks to Buy Unit From FCI INVESTMENT BANKING In the Persian Gulf, Struggling to Adapt as Deals Dry Up PRIVATE EQUITY Bain Capital Makes an Uncertain Political Football HEDGE FUNDS Seeking a More Direct Hedge Fund Investment OFFERINGS Small Investors Try to Make Sense of Facebook Trading VENTURE CAPITAL Barry Diller Prepares for Battle Over Start-Up LEGAL/REGULATORY Despite Doubts, Lehman Charges Still Possible TOP STORIES Prosecutors Seek to Show Gupta's Close Ties to Rajaratnam If he had his druthers, Rajat K. Gupta would have been in Cambridge, Mass., on Thursday, attending his daughter's graduation from Harvard Business School. Instead, Mr. Gupta was seated at the defense table in Judge Jed S. Rakoff's courtroom in Manhattan, on trial on insider trading charges. The government has accused Mr. Gupta, a former director at Goldman Sachs and Procter & Gamble, of passing corporate secrets to his friend and business associate Raj Rajaratnam. Mr. Rajaratnam, a former head of the Galleon Group hedge fund, is serving 11 years in prison after being convicted last year of fraud and conspiracy. Jurors heard a range of testimony on Thursday, the fourth day of what is expected to be about a three-week trial. Prosecutors played for the jury secretly recorded telephone calls that they believe are powerful evidence of Mr. Gupta's guilt. A current Goldman director took the stand to discuss the duties of a Goldman board member. And an executive at J.M. Smucker testified about his company's acquisition of Folgers Coffee from Procter & Gamble - a deal Mr. Gupta is accused of leaking to Mr. Rajaratnam. Prosecutors also sought to debunk one of Mr. Gupta's chief defenses: that he and Mr. Rajaratnam were not that close and, at some point, even had a falling out. The government showed the jury two e-mails suggesting differently. DEALBOOK » Lehman to Buy Remainder of Archstone for $1.58 Billion Lehman Brothers Holdings has agreed to buy the stake it does not currently own in Archstone, a sprawling apartment company, for about $1.58 billion. Lehman will buy the remaining 26.5 percent stake from Bank of America and Barclays, after months of negotiations over the holdings. The companies confirmed the deal on Friday. As part of the deal, Lehman will provide some compensation to its main rival for the banks' stake, Samuel Zell's Equity Residential. Earlier this year, Lehman agreed to buy half of Bank of America and Barclays' stake for $1.3 billion, in an effort to prevent them from selling the stake to Equity Residential. Under the terms of the latest transaction, Equity Residential will receive $150 million, which includes an $80 million breakup fee, according to a person briefed on the matter. DEALBOOK » TOP STORY Dimon Agrees to Testify, Without Committing to Specific DateWhile Jamie Dimon, the chief executive of JPMorgan Chase, has agreed to testify before a Congressional committee in June to discuss the bank's recent multimillion dollar trading loss, he hasn't committed to a date. DEALBOOK » TOP STORY JPMorgan's Deficient Disclosures If JPMorgan had more clearly broken out its hedging activity, investors might have asked questions about what was going on at the chief investment office well before its $2 billion-plus trading loss became public. DEALBOOK » TODAY'S TOP HEADLINES M & A Silver Lake and Partners Group to Buy Global Blue for $1.25 Billion INVESTMENT BANKING Spain Plans to Recapitalize Bankia PRIVATE EQUITY President's Attacks on Private Equity May Have Pitfalls HEDGE FUNDS Rajaratnam's Goldman Trade a Focus at Gupta Trial OFFERINGS Knight Capital Estimates Facebook Loss VENTURE CAPITAL Doubts Surround Start-Up Accelerators LEGAL/REGULATORY Should Jamie Dimon Resign From the Fed? TOP STORIES Questions of Fair Play Arise in Facebook's I.P.O. Process As Washington intensifies its scrutiny of the initial public offering of Facebook, the company's bankers are facing questions about whether the process - even if perfectly legal - was fair. The concerns center on Morgan Stanley, Goldman Sachs and other banks involved in the I.P.O. that shared a negative outlook about Facebook with a select group of clients, rather than broadly with all investors. In the days leading up to Facebook's debut, analysts at several banks ratcheted down their growth estimates for the social network. The move came after the company told them that quarterly and annual revenue would be on the softer side, said people briefed on the matter who spoke on the condition of anonymity because they were not authorized to discuss the issue publicly. As is typical in the I.P.O. process, research analysts at Morgan Stanley, Goldman Sachs and other firms contacted certain clients to discuss their revised expectations, while other big investors called on the banks to get their new take. But ordinary mom-and-pop investors did not have the same access to the valuable information. Now, regulators and lawmakers are taking a closer look. Facebook Shares Up Even as Lawsuits Are Filed Over I.P.O. The small gain, in renewed heavy trading, came as several suits were filed on behalf of investors over the handling of the initial public offering. DEALBOOK »

商家總是不知道主權，人權與利益之分

思科公司助中共迫害法輪功 遭譴責

2012年3月20日 星期二     

美國《舊金山紀事報》3月11日刊載文章，向美國公眾揭露了硅谷巨頭思科公司在幫助中共打造網絡監控系統「金盾工程」迫害法輪功學員中所扮演的不光彩角色。
據大紀元消息，該文章指出，去年，總部設在華府的「人權法律基金會」代表11名中國公民，將思科公司告上法庭，指控其助紂為虐，為中共量身定做打造產品，監控法輪功學員。
根據起訴書，被洩密的10年前思科公司市場營銷資料和內部演講顯示，該公司知道中共政府要用他們的產品建造的「金盾工程」來迫害法輪功學員。其中一張幻燈片還將中共金盾工程的目標描述為「打擊法輪功x教和其他敵對分子」。
這份起訴書將思科的多名高管送上了被告席。
起訴書寫到：「由於被告為中國當局創造、開發、維護的金盾工程技術，直接後果是法輪功學員遭受嚴酷虐待，包括非法監禁、酷刑、殘酷毆打、電擊和冤死。」
此外，起訴書指控思科公司技術讓數百名特務和公安人員「獲得法輪功成員的敏感信息，如家庭、工作地址，IP地址，購物活動，與其他法輪功成員的聯繫等信息。」
人權法律基金會執行主席泰瑞．瑪什(Terri Marsh)說，專家分析和其他證據顯示，思科對產品的用戶化服務程度比原來以為的還要深。
瑪什說，她計劃將在本月的一次聽證會上向法院提交因增加了新證據而經過修改的新起訴書，以此來證明思科公司是在有意協助犯罪。
據悉，這樁由中國公民控告美國大公司的案件受到媒體矚目，是由於美國最高法院於上個月下令就荷蘭殼牌石油公司涉嫌與尼日利亞政府合作侵犯人權案做辯論，跨國大公司是否能像個人一樣因侵犯人權受到審判這個問題再次被推到台前。
除了法律界，議員們也在做出努力。阿拉伯之春革命爆發後，人們發現一些西方技術被獨裁者用來鎮壓異議人士，歐洲議會於是投票禁止向海外出售將用於侵犯人權和言論自由的監控技術。
去年，新澤西國會議員也提出禁止向獨裁政府出售監控技術。
希望之聲國際廣播電台孫靜如報導




菲律賓商界：與中國對抗代價慘重Philippine business warns on China stand-off英國《金融時報》 羅爾•蘭丁金馬尼拉, 鄺彥暉北京報導

Philippine businesses are calling for a quick resolution to the month-long stand-off with Chinese ships in the South China Sea, warning that a prolonged political impasse could hurt tourism and cost thousands of export-related jobs.
菲律賓商界呼籲盡快解決菲中艦船在南中國海已延續一個月的對峙，警告持續政治僵局可能損害菲律賓旅遊業，並使該國失去成千上萬出口相關的就業崗位。The warning followed signs that the confrontation was beginning to have an economic impact, with Chinese tour groups cancelling trips to the Philippines and shipments of Philippine bananas blocked from entering China for food safety reasons.
菲律賓商界發出這一警告之前，有跡象顯示，這場對抗正開始產生經濟影響，中國旅行社取消前往菲律賓的旅遊團，中國還以食品安全為由，阻止菲律賓發運的香蕉進入中國。“We have more to lose than them”, Sergio Ortiz Luis, head of the Philippine Confederation of Exporters, told local television.
“我們的潛在損失超過他們，”菲律賓出口商協會(Philippine Confederation of Exporters)會長塞爾吉奧•奧爾蒂斯•路易斯(Sergio Ortiz Luis)對當地電視台表示。China is the Philippines' third-biggest trading partner and its fastest-growing source of foreign tourists.
中國是菲律賓的第三大貿易夥伴，也是菲律賓增長最快的旅遊客源國。The warnings are increasing pressure on Benigno “Noynoy” Aquino, Philippine president, to find a temporary solution to the dispute, which began last month when a Philippine navy ship attempted to detain eight Chinese fishing vessels near Scarborough Shoal, about 120 nautical miles west of the Philippines' main island of Luzon.
這些警告給菲律賓總統貝尼尼奧•阿基諾三世(Benigno Noynoy Aquino)帶來更大壓力，要求他找到這場爭端的臨時解決方案。爭端始於上個月，當時菲律賓海軍一艘軍艦企圖在菲律賓主島呂宋島以西大約120海里處的斯卡伯勒淺灘（Scarborough Shoal，中國稱黃岩島——譯者註）附近海域扣留八艘中國漁船。Scarborough Shoal, which the Chinese call Huangyan, is claimed by both countries, and is just one of many territorial disputes across the South China Sea. The foreign ministries of the two governments have been trying to calm tensions but the incident has sparked strong nationalist rhetoric in both China and the Philippines.
中國和菲律賓都宣稱擁有斯卡伯勒淺灘的主權，而這只是南海眾多領土糾紛之一。兩國的外交部一直在試圖平息緊張局勢，但這一事件在兩國都已引發強烈的民族主義言論。“On both sides there are people hoping the incident will escalate, and others who want to contain it. It is very hard to tell which side has the upper hand,” said Jin Canrong, an international relations expert at Renmin University.
“雙方都有人希望事件升級，也都有人希望控制局面。很難判斷哪一方佔了上風。”中國人民大學的國際關係專家金燦榮表示。China and the Philippines resumed talks late last week, and Mr Aquino said on Tuesday that negotiations were yielding positive results. “It's too early to say the situation has cleared up but we're getting there,” he told journalists after a speech in the southern Philippines.
上週晚些時候，中國與菲律賓恢復談判。阿基諾週二表示，談判正在產生積極的結果。 “要說局面已得到解決，現在還為時過早，但我們正在這個方向上取得進展，”他在菲律賓南方發表講話後對記者們表示。That would be much welcomed by Philippines businessmen. The Pilipino Banana Growers and Exporters Association warned that up to 200,000 banana farmers and ancillary workers could lose their livelihood if China, the industry's second biggest export market, stops importing bananas from the Philippines.
那將受到菲律賓商界的熱烈歡迎。菲律賓香蕉種植及出口企業協會(Pilipino Banana Growers and Exporters Association)警告稱，如果該行業的第二大出口市場中國停止進口菲律賓香蕉，可能會有多達20萬蕉農和配套服務工人失去生計。China Southern Airlines has said it plans to cut flights between Guangzhou and Manila in M​​ay and June due to a large number of cancellations by Chinese tour groups to the Philippines, after Beijing issued a travel advisory following small anti-Chinese protests in M​​anila last week.
中國南方航空公司(China Southern Airlines)已表示，計劃減少5、6月份廣州與馬尼拉之間的航班​​，原因是中國旅行社取消了大量前往菲律賓的旅遊團。上週馬尼拉爆發小規模的反華抗議後，中國官方發布了一項旅遊安全提示。One opportunity for a resolution would come on Wednesday, when China begins its annual fishing ban in parts of the South China Sea including the waters currently under dispute. The Philippines said it did not recognise ​​China's fishing ban but would impose its own ban to slow down the rapid depletion of fish stocks in the area.
週三將迎來解決爭端的一個機會，中國從這一天開始在南海部分海域（包括這一爭端涉及的海域）實行年度休漁期。菲律賓表示，該國不承認中國的休漁規定，但將出台自己的休漁規定，以減緩當地漁業資源的快速枯竭。A fishing ban would in theory lower tensions by keeping fishing boats from both sides away from the disputed area, but could also have the opposite effect as official vessels from both countries are likely to patrol the waters to enforce the ban.
理論上，休漁將降低緊張程度，因為雙方的漁船都不得進入有爭議的海域，但此舉也可能產生相反的效果，因為兩國官方的海監船很可能會在相關海域實施巡邏，以執行休漁規定。“If no path to a solution can be found during the fishing ban, the next opportunity could be even more distant,” said Zhang Mingliang, a professor ​​at the Institute of Southeast Asian Studies at Jinan University.
“如果在休漁期間找不到通向解決方案的路徑，那麼下一個機會可能更加遙遠，”暨南大學東南亞研究所教授張明亮表示。Additional reporting by Gwen Chen and Zhao Tianqi in Beijing
陳曉敏和趙添琦北京補充報導
譯者/何黎

江蘇省最低工資標準(2012年6月1日起)

江蘇省從2012年6月1日起調整全省最低工資標準
  發表於2012-05-23 

 昨日記者從省人力資源和社會保障廳獲悉,近日,省政府常務會議通過了全省最低工資標準調整方案,並報送人力資源和社會保障部審核同意,從2012年6月1日起調整全省最低工資標準。
月最低工資標準:一類地區從1140元調整為1320元,增加180元;二類地區從930元調整為1100元,增加170元;三類地區從800元調整為950元,增加150元。非全日制用工小時最低工資標準:一類地區從9.2元調整為11.5元,二類地區從7.5元調整為9.6元,三類地區從6.5元調整為8.3元。 (全省地區分類見附表)
最低工資標準不包括加班加點的工資;中班、夜班、高溫、低溫、井下、有毒有害等特殊工作環境、條件下的津貼;法律、法規和國家規定的勞動者福利待遇等。在剔除不包括內容和個人按下限繳存住房公積金後,用人單位支付勞動者的月工資不得低於最低工資標準。
需要注意的是,拿到手的最低工資可能要比公佈的標準少一些,因為醫療、失業、生育、工傷和養老“五險”包括在最低工資標準裡。

Next step: Spinning off technology used to create Tokyo Sky Tree

Tokyo Sky Tree lights up for holiday nights 開業式典

 Tokyo Skytree an ideal spot to track lightning...






Next step: Spinning off technology used to create Tokyo Sky Tree

Illustration of "shinbashira" central pillar of Tokyo Sky Tree (Provided by Nikken Sekkei)

Tokyo Sky Tree, which at 634 meters is the world's tallest free-standing tower, is a marvel of new technologies and design approaches.

Don't scare workers,為什麼我對聖人王建煊看法稍不同

(為什麼我對聖人看法稍不同  在90年代初 許多洋公司節省 連總經理搭香港-台灣班機都規定要搭經濟昌艙   有一次我搭商務 到行李臺發現我是第二名 在中國做慈善的王建煊已登先 我很佩服這些"退休"公務員......)



賺錢再捐錢何樂不為 享受權力春藥

監察院長王建煊表示，他自認是監察院的「肥貓」，有車有秘書，但自省付出與領到的薪水不等值，對不起納稅人及國家社會；決定捐出院長6年的薪水2000萬 ...

蘋論：煎茶院

Don't scare workers, urges CableThe business secretary condemns proposals to make it easier for firms to sack under-performing staff as "the wrong approach" to boosting the economy. 

Vince Cable calls sacking plans in Beecroft report 'the wrong approach'

Business Secretary Vince Cable has condemned proposals to make it easier for firms to sack under-performing staff as "the wrong approach".

A report commissioned by the prime minister is also expected to call for shorter periods of consultation over compulsory redundancies.
But Mr Cable told the BBC it was not the job of government to "scare the wits" out of people.
Many Tory MPs back the plans as a means to boost the UK's businesses.
The economy re-entered recession in the first quarter of this year and the coalition government is looking for ways to encourage growth.
The report, which was published on Monday, was compiled by Conservative-supporting venture capitalist Adrian Beecroft.
Its proposals include:

• An end to a mandatory 90-day consultation period when a company is considering redundancy programmes. Instead it will suggest a standard 30-day period and an emergency five-day period if a firm is in severe distress
• A cap on loss-of-earnings compensation for employees who make successful discriminatory dismissal claims
• Reform of the rights that workers are allowed to "carry" to new employers when their companies are the subject of a takeover
• Scrapping provisions in the Equality Act which make employers liable for claims from employees for "third-party harassment", such as customers making "sexist" comments to staff in a restaurant
• Shifting responsibility for checking foreign workers' eligibility to work in the UK from employers to the Border Agency or the Home Office

The study follows David Cameron's call for British industry to be freed from "red tape".
Changes to employment law, it is argued, would improve the supply of suitable staff to firms, who would be less afraid of having to make large payouts or face legal action when laying off those who are no longer needed.
The theory is that firms would hire more staff and the change would make the UK a more attractive place to start and grow a business.
The plans, which have not been accepted by the prime minister, have been portrayed as a source of tension between Conservatives and Liberal Democrats.
The Beecroft Report had been due to be published later in the week, but this was brought forward after leaks of what the government called an out-of-date version.
Business minister Mark Prisk told the Commons that action was already being taken on 17 of the 23 Beecroft recommendations.
Mr Cable told the BBC: "Most of it is pretty uncontroversial, but there's one bit which is this so-called 'no-fault dismissal', which some people describe as a hire-and-fire system.
"I don't see the role for that. Britain has already got a very flexible, cooperative labour force. We don't need to scare the wits out of workers with threats to dismiss them. It's completely the wrong approach."
But Mr Cable's department has issued a call for evidence to see whether firms with fewer than 10 employees would favour the no-fault dismissal rule.
When asked whether there was a difference of view between himself and Downing street, he said: "I think we're all on the same page."
'Right direction' Mr Cable has reportedly spoken several times via telephone to Labour leader Ed Miliband since the coalition came to power.
Mr Miliband refused to be drawn on the claims, adding that he had conversed with "lots of people lots of times".
However, his comments on the Beecroft proposals echoed those of the business secretary: "We need an economy based on long-termism, investment and training. We need to get away from an economy based on a short-term, take-what-you-can, fire-at-will culture."
But Conservative MP Damian Collins said: "It would be terrible if smaller businesses were holding back on recruiting because they're worried about whether they can sustain the income they need to keep those people on over the longer period of time."
The prime minister's spokeswoman said the government wanted to "support business, encourage growth, while at the same time ensuring that employees rights to work were not weakened".
She added: "The PM is not wedded to one set of proposals or another, but he does believe he should look at what can make the process (on employment) easier."
Adam Marshall, director of policy at the British Chambers of Commerce, said: "Of course employment rights are important, but should be weighed against opportunities for the unemployed who are looking for work."

Lex_JC Penney 成本控制的極限

JC Penney走下坡路Lex_JC Penney英國《金融時報》

Twenty per cent off sounds appealing to shoppers. Not to investors. On Tuesday, the JC Penney department store chain reported that same-store sales had dropped by nearly a fifth from the year before. It is hard to recall another like-for-like decline of this magnitude, at any company. Even at Gap, an industry problem child, same-store sales bottomed at -14 per cent in the recessionary 2008. Penney shares tanked yesterday.
打八折對消費者而言很有吸引力。投資者就不同了。週二，連鎖百貨公司JC Penney報告稱，同店銷售額較去年下降了近五分之一。無論對哪一家公司而言，這種幅度的同店銷售額下滑都是罕見的。就連業內的“問題少年”蓋普(Gap)公司，在2008年經濟衰退期間的同店銷售額也在下降14%的水平上觸底。 Penney公司股價週三重挫。


The issue has little to do with the environment for mid- or low-priced retailers in the US, though. Same-store sales at Macy's and Kohl's, also mid-tier department stores, were slightly positive and flat, respectively, in the first quarter. Off-price clothier TJX reported like-for- like sales up 8 per cent.
然而，這一問題跟美國中低端零售商所處的大環境無甚關聯。在同樣是中檔百貨公司的梅西(Macy's)和科爾(Kohl's)，第一季度同店銷售額分別出現小幅正增長和持平。減價服裝銷售商TJX則報告8%的同店銷售額增長。


The issue is the strategic changes instituted by new boss Ron Johnson, who previously ran Apple's retail operations. His decision to abolish sales commissions has attracted attention, but, like his cost-cutting initiatives and planned store revamps, was instituted too recently to explain the drop off. The culprit seems to be the move from constantly changing promotions to a few stable price tiers. Shoppers appear to have liked the old disorder.
問題是出在新老闆羅恩•約翰遜(Ron Johnson)推行的策略轉變上，他之前曾負責蘋果(Apple)公司的零售運營。他作出的取消銷售佣金的決定引起了人們注意，但就像他削減成本和翻新門店的方案一樣，這些措施出爐時間不長，無法解釋業績下滑的現象。罪魁禍首似乎是從不斷變化的促銷活動轉向幾個穩定的價格層次。消費者似乎更喜歡過去的無序格局。


It is hard to forecast if shoppers will warm to an environment where pricing is predictable and the staff isn't pushy. We know, however, that there have been few, if any, successful transformations of ageing retail brands. The disastrous turnround efforts at Sears/Kmart prove that cost control is not nearly enough. But cuts can keep a company alive long enough to find a merchandise formula that works. Encouragingly, Gap has recently started to churn out positive same-store results, after years of negative sales driven by lousy fashion. Only very astute financial management protected Gap's profits. The JC Penney turnround, if it comes at all, is likely to take a long time, too.
很難預測消費者會否對定價可以預見、員工不急著推銷的環境更感興趣。然而我們所知道的是，過氣零售品牌中，極少（如果確實存在的話）有轉型成功的。西爾斯/卡馬特(Sears/Kmart)災難般的轉型努力證明，僅靠成本控制是遠遠不夠的。但削減成本可以使公司存活足夠久，以便找到有效的商業模式。令人鼓舞的是，在糟糕的時尚設計帶來多年銷售負增長之後，Gap最近開始實現積極的同店銷售業績。全靠非常精明的財務管理才保住了Gap公司的利潤。 JC Penney公司如能最終扭轉局面的話，也可能會經歷很長時間。

台灣日光燈股份有限公司:林文仁打造「旭光」的黃金時代的故事

维基百科，自由的百科全书

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台灣日光燈股份有限公司 Taiwan Fluorescent Lamp Co., Ltd.
公司類型	股份有限公司
統一編號	11921502
成立於	1954年3月10日 （核准設立日期）
總部地點	台灣台北市信義區基隆路一段159號8樓之2
重要人物	代表人：李福褘
產業	照明設備製造業
產品	日光燈管、冷氣機
實收資本額	新台幣31.589億元（2011年9月）
備註	資料來源：經濟部商業司─商工登記資料公示查詢系統 最後核准變更日期：2010年12月02日

台灣日光燈股份有限公司，中文簡稱「台光」，英文簡稱「TFC」。該公司長期與東芝技術合作，生產日光燈、冷氣機，以自創品牌「旭光」聞名，並在1980年代下半期一度邀請當時中國電視公司著名氣象主播馮鵬年擔任冷氣機的代言人。1993年至2008年，其經營權數度易手；2008年2月，其無預警停工，結束營業。

簡史

• 

  原台灣日光燈公司總部大樓，位於台北市中山區南京東路一段46號
  
• 

  「旭光照明」經銷店直式招牌
  
• 

  「旭光冷氣」經銷店直式招牌
  

•  1956年1月15日，台灣日光燈公司新竹廠開工
•  
• 1966年12月，台灣日光燈公司搶在日本各公司之前成功研發日光燈合成樹脂燈頭，合成樹脂燈頭優點為絕緣良好、美觀耐用。^[1]
• 1991年1月中旬，東元電機、台灣日光燈與東芝合資成立台灣東芝精密，生產壓縮機^[2]。
• 1993年，台灣日光燈公司董事長林文仁退休，台灣日光燈公司內的「市場派」趁機得勢^[3]，前立法委員游淮銀領軍的富隆集團收購台灣日光燈公司股票，游淮銀接任台灣日光燈公司董事長；不到一年之後，台灣中部的股市作手「東勢魏」魏營杲接任台灣日光燈公司董事長。
• 1994年10月下旬，洪福證券違約交割案爆發並牽連魏營杲，台灣日光燈公司股價崩盤，鄭楠興應魏營杲邀請接任台灣日光燈公司董事長^[4]；東芝與飛利浦紛紛撤資，林文仁也全數拋售自己持有的台灣日光燈公司股票。^[5]
• 1999年2月10日，台灣日光燈公司前董事長王邦彥遭台北地檢署依背信罪與詐欺罪起訴，具體求刑3年；1999年2月11日，刑事警察局依據檢舉內容指出，王邦彥於1997年6月當選台灣日光燈公司董事長，涉嫌透過子公司投資方式分批掏空台灣日光燈公司資產新台幣19億元，但於1998年7月請辭台灣日光燈公司董事長；警方依侵占罪與背信罪將王邦彥移送法辦，檢察官孟令士以「惡性重大」為由聲請羈押王邦彥獲准，台灣日光燈公司前財務經理郝麗麗以新台幣20萬元交保。^[6]
• 1999年5月29日，台灣日光燈公司掏空案偵查終結，台北地檢署依背信、內線交易等罪名，將台灣日光燈公司前副董事長兼旭光電機公司董事長鄭楠興、台灣日光燈公司前總經理林銀洲、台灣日光燈公司前副總經理兼旭光投資公司董事徐文政、台灣日光燈公司前常務董事兼台光燈建設公司董事長劉勝輝、台灣日光燈公司前財務經理郝麗麗、林銀洲弟媳陳秀卿、黃麗君、陳溫桂英、台灣日光燈公司投資部前副理鄭明哲等9人起訴，王邦彥則併法院審理。^[7]
• 1999年8月，鄭楠興邀請立法委員邱鏡淳接任台灣日光燈公司董事長。
• 1999年8月5日，台灣證券交易所審查通過台灣日光燈公司股票自1999年8月9日起由全額交割股改列普通交割股。^[8]
• 2001年，台灣日光燈公司計畫投入興建廢日光燈管回收處理廠。^[9]同年年中，台灣日光燈公司董事長邱鏡淳因參選立法委員而辭職。同年10月，鄭楠興之弟鄭楠盛接任台灣日光燈公司董事長。
• 2003年，中山科學研究院與行政院國家科學委員會協助台灣日光燈公司成立「奈米科技事業部」。^[10]同年，立法委員蔡啟芳接任台灣日光燈公司董事長。
• 2005年，台灣日光燈公司獲得中華民國經濟部「奈米標章」認證。^[11]
• 2006年3月6日，台灣日光燈公司產業工會常務理事黃榮生接到一紙傳真，在沒有任何理由的情況下被資遣；台灣日光燈公司產業工會向新竹縣政府申請勞資爭議調解；新竹縣產業總工會理事長黃維權要求中央及地方主管機關向資方施壓，也呼籲各工會全面備戰、隨時動員聲援黃榮生。^[12]
• 2007年4月23日，台灣日光燈公司經營權易手，陳國雄、曾大中、柯欽郎等五大律師合組的新經營團隊入主台灣日光燈公司，陳國雄接任台灣日光燈公司董事長。^[13][14]
• 2007年4月30日，台灣日光燈公司董事長陳國雄在董事會中無預警辭職，台灣日光燈公司前常務董事吳添壽接任董事長。^[15]
• 2007年4月，台灣日光燈公司跳票。
• 2007年5月，台灣日光燈公司積欠員工薪資。^[16]
• 2007年7月10日，由於台灣日光燈公司未交財報，台灣證券交易所命令台灣日光燈公司股票下市。^[17]
• 2008年1月31日，台灣日光燈公司宣布資遣300多名員工，並同時發放所有員工的支票及部分離職單；同年2月1日，台灣日光燈公司宣布自同月2日起停工至同月15日。^[18][19][20]
• 2010年4月20日，台北地方法院依據台灣日光燈公司504名債權人的集體聲請，首度拍賣台灣日光燈公司的「旭光」商標抵償超過新台幣10億元的債務，業強科技以新台幣7500萬元得標。^[21]
• 2011年4月21日，台北地檢署襄閱主任檢察官王文德依違反《證券交易法》罪嫌，將鄭楠興與台灣日光燈公司董事兼發言人吳添福起訴。^[22][23]

參考文獻

1. ^ 本報訊，〈旭光牌日光燈 採用樹脂燈頭〉，《中央日報》1966年12月30日第7版。
2. ^ 李明軒，〈冷氣的「心」戰場〉，《天下雜誌》第117期（1991年2月出刊）。
3. ^ 鄭少凡，〈台灣日光燈前董事長的故事：林文仁打造「旭光」的黃金時代〉，《看雜誌》第69期（2010年8月19日出刊）。
4. ^ 劉泰英也想染指台灣日光燈？. 今周刊. 2007年5月4日 [2011-10-12].
5. ^ 鄭少凡，〈台灣日光燈前董事長的故事：林文仁打造「旭光」的黃金時代〉，《看雜誌》第69期（2010年8月19日出刊）。
6. ^ 劉慶侯 臺北訊，〈臺光遭掏空19億 前任董事長收押〉，《中央日報》1999年2月12日第3版。
7. ^ 馬淑華 臺北訊，〈臺光資產掏空案偵結 鄭楠興等九人被起訴〉，《中央日報》1999年5月30日第6版。
8. ^ 劉嘉芳 臺北訊，〈環電臺光九日普通交割〉，《中央日報》1999年8月6日第7版。
9. ^ 廢棄日光燈管 明年起回收. 自由時報. 2001年4月25日 [2008-2-4].
10. ^ 鈦厲害 空氣變乾淨囉！. 自由時報. 2003年3月21日 [2008-2-4].
11. ^ 6廠商 獲奈米標章認證. 自由時報. 2005年12月21日 [2008-2-4].
12. ^ 又見打壓工會！台灣日光燈產業工會一常務理事被資遣. 勞動黨桃竹苗勞工服務中心. 2006年3月22日 [2011-9-18].
13. ^ 經營權變天 律師團入主台光. 工商時報. 2007年4月23日 [2008-2-4].
14. ^ 台光董座 陳國雄接任. 經濟日報 (台灣). 2007年4月24日 [2008-2-4].
15. ^ 劉泰英也想染指台灣日光燈？. 今周刊. 2007年5月4日 [2011-10-12].
16. ^ 台光又欠員工薪資 今先發半個月. 自由時報. 2007年5月15日 [2008-2-4].
17. ^ 不亮了　日光燈老牌旭光　未交財報10日下市. 東森新聞. 2007年7月6日 [2008-2-4].
18. ^ 旭光照亮台灣五十四年　無預警停工資遣員工. 台灣日光燈工會、新竹縣產業總工會. 2008年2月2日 [2011-9-15].
19. ^ 賣53年日光燈　台光無預警停工　資遣逾300員工. 東森新聞. 2008年2月2日 [2008-2-4].
20. ^ 台光無預警裁員，員工到縣府陳情. 自由時報. 2008年2月13日 [2008-2-13].
21. ^ 張欽. 欠10億 老牌「旭光」商標拍7500萬. 蘋果日報 (台灣). 2010年4月21日 [2011-1-11].
22. ^ 鄭楠興與台光董事 涉炒股被訴. 中央通訊社. 2011年4月21日 [2011-9-15].
23. ^ 台灣日光燈爆炒股案 董事遭檢起訴. 中廣新聞網. 2011年4月21日 [2011-9-15].

外部連結

相關的維基共享資源：

台灣日光燈

• 《苦勞網》收錄的台灣日光燈工會文章列表

台灣日光燈前董事長的故事:林文仁打造「旭光」的黃金時代

看雜誌

第69期

2010年8月19日

作者: 

鄭少凡

待人誠懇的林文仁希望員工下了班：「叫我老林也好，目鏡仔也沒關係。」

攝影: 

李唐峰

一般人初見台新金控總經理林克孝，光看外表就會浮現出「文武全才」四個字。英挺的身材和文質彬彬的氣質，其實看起來比較像大學教授而非金融大亨。
知道林克孝的登山和寫作嗜好後，稍深入挖掘，馬上就可發現，原來林克孝這樣的根基，就是「老爸」的翻版嘛！
文武全才的老爸
林克孝的父親、前台灣日光燈董事長林文仁現年78歲，身形雖不高卻顯精壯，乍看之下宛若五十幾歲。說話輕聲細語、溫文儒雅，濃厚的書卷氣讓他顯得無比慈祥。而林文仁的最大嗜好，就是閱讀和登山。
1932年出生的林文仁，中學前接受的是日本教育，小學時所有當代的日本文學名著、世界文學全集日譯本都已閱讀完畢。到中學時，林文仁在那個物資貧乏的年代，就擁有藏書三百多本，並將之一一編號，可見他對這些書籍多麼珍愛。
「看書是最大的享受！很多人都逃不出這個誘惑。」林文仁開心地說道，現在他個人的藏書大概有兩、三千本，年紀雖大仍不斷閱讀。近來的重點為英文、日文書籍，還加入英國的閱讀俱樂部，定期飽覽群書。
對於閱讀和文字的愛好，使他當年剛進台灣日光燈公司第二年時，雖然還是一名小技術員，就和另一名同事興辦公司刊物《旭光》，由自己主筆日光燈的照明技術文章，同時蒐集經營管理、員工園地三個層面的內容，以雙月刊形式發行。
由於當時鮮少有關於管理和照明知識的刊物，所以清華大學、國家圖書館也都訂閱。林明仁的照明專欄還集結成冊，後來成為明新工專的教科書。
林文仁的另一項愛好就是「登山」。自從大學同學帶他爬陽明山後，他就迷上了登山，除了帶全家參加中華登山健身協會，也鼓勵公司員工一起參加登山活 動，還在台灣日光燈新竹廠創建登山社。即便後來位居董事長高位，林文仁還是會跟員工一起參加五、六天的登山行程，與大家打成一片。
登山活動對自己作為公司負責人的角色有何影響？林文仁不疾不徐卻字字有力地說道：「登山其實有時很苦，但可鍛鍊意志力和判斷力。在經營企業時，時常 會遇到困難，你沒有堅強的意志不行。而且，你看，我現在身體仍然很健康，感覺身體沒有甚麼障礙。」說到這裡，林文仁笑得天真燦爛，像個活潑的小孩。
遙想當年，林文仁是如何肩負起打造出老牌字號「旭光日光燈」的台灣日光燈公司呢？

父親力攬留學夢碎
原來，台大電機系畢業的林文仁，也像其他台大的精英學子一樣，畢業後的願望是出國留學。然而，當年台大電機系39位畢業生中只有6位留在台灣，林文仁就是其中之一。這是因為林文仁的父親與朋友共同創建台灣日光燈公司，草創初期人才難尋，父親希望他到台光貢獻專才。


民國四十三年時，台大電機系畢業生在台灣何等搶手！林文仁剛畢業就有7個工作在等著他，包括薪資優渥的電信局、台電等。台大電機系還特地寫信給林文仁的父親，祭出栽培林文仁出國留學的條件，希望他能留在台大。
但父親不為所動。林文仁於是來到台光這個前景未卜的新公司上班，沒想到一生卻受用不盡！
不像其他國外發展的同學，因受限於國情，晉升發展可能有限。從技術員做起，一路晉升到工程師、課長、廠長，到後來的總經理、董事長，林文仁在台光「可以盡情發揮所長」！

推動「日新小組」創新技術
台光在林文仁的帶領下，曾獲得品質績優工廠、品質管制部長獎、CED標誌認證、全國品質團體獎、經濟部部長品質管制獎、優良電器金品獎等諸多殊榮。
當時的台光，不止名聲叱吒工業界，在品管圈內也是佼佼者。因為林文仁與日本東芝技術合作，引入當時新穎的品管方式，叫「日新小組」。所謂「日新小 組」就是工廠基層單位幾個人組成小組，由小組成員自行改進工作流程，而不是由管理階層介入，因為最基層的員工才瞭解親身進行的工作程序和優缺點，由此增加 良品率。
林文仁解釋「日新小組」的基本概念就是藉全體員工的力量，一起把品質顧好，而不是靠管理者的力量！不良率減少，成本就會降低，建立良好信譽。
一位當時在旭光新竹廠的生產線班長說：「我認為推行效益非常大，在生產線或是公司行銷都有很大的效果！」
由於成效良好，旭光每年還會招開「日新小組」的發表會，讓其他廠商學習。包括聲寶、大同、太平洋電器都曾派人去觀摩，成功經驗走紅台灣。林文仁因此還獲邀擔任中華民國品質學會理監事。
不僅運用管理技術增加良品率，林文仁對於生產硬體技術的投資更是不遺餘力，他信心滿滿：「在工廠裡找不到兩個一樣的設備，每一次要增加新設備我們都會改善！」
林文仁回憶剛開始，每件製燈設備就得40個人操作，12秒才能生產一支燈管。到他退休的時候，只需6個
後來日光燈第二大廠中國電器公司也跟日本CKD引進這種一秒生產一支燈管的設備，僱用一位CKD的退休總經理小島先生當顧問。小島和林文仁是好友， 林文仁退休後，小島常與他敘舊，一天，小島感嘆道：「為何中國電器和旭光的技術差這麼多？同樣是一秒生產一支的設備，旭光的良品率在98%，而中國電器才 80%多！」林文仁管理的功力由此可見一斑。

誠以待人工會力挺老闆
除了成功的管理方式和先進的生產技術外，林文仁另一個成功的關鍵，在於誠懇對待員工，讓員工心悅誠服、向心力超強，使工廠一片欣欣向榮。一位在新竹廠工作的老員工說：「他把員工當作最大的資產。」
林文仁認為不管董事長也好、總經理也好，都只是職位的分配，並不代表自己高人一等，大家能相聚就是緣分。所以林文仁要求員工，下班後絕對不能以頭銜 稱呼自己。林文仁的眼神變得更加柔和：「叫我老林也好，目鏡仔也沒關係。所以很多人都叫我林大哥，現在老同事打電話給我也是叫『林大哥』，沒有人叫我董事 長啦，呵呵！」率真誠懇的態度使所有員工宛如一家人，整個公司的凝聚力自然百分百。
林文仁給獎金也很「阿莎力」，全年度獲利的三分之一，一律作為員工紅利，工會從不用討價還價。一位旭光資深員工馮先生說，過年過節常領到獎金，時常領獎金領得莫名其妙，「一點都不誇張！」
馮先生還透露，一次生產線的工人手臂被機器壓傷，林文仁二話不說，讓員工安心養傷，薪水照發，不用擔心醫療費用的開支。員工感激不盡。馮先生說：「林文仁把員工當家人一樣照顧。」
誠懇待人又照顧員工福利的作風，讓工會對林文仁無話可說，只要林文仁決定甚麼，工會就會力挺到底。旭光工會常務理事張錫濱回憶道：「公司有要求的時候，工會就全力帶領工人替公司賺取最大的利潤，因為主事者有把員工當作自己的財產。」
台灣尚未解嚴時，政府對社會的監控仍嚴密。警總當時在公司行號內部都設有安全室，觀察公司內部動向。當時旭光的安全室主任偷偷地跟林文仁說：「奇怪，別的工廠我都會聽到很多抱怨的聲音，可是在你這裡卻沒有，反而聽到的是讚美。」由此可見林文仁不只是帶人，更是帶心。
台光走下坡殷鑑可戒
1993年，林文仁退休後，「市場派」趁虛而入，17年間換了16位董事長，並於2007年終止上市，今年初撤銷公開發行。資深竹東廠員工馮先生嘆道：「真是此一時非彼一時……」
人操作設備，一秒就能生產一支燈管。
從12秒一支、6秒一支、3秒一支、2.5秒一支，每回提高效率都是一次困難的挑戰。最後林文仁與日本CKD公司的設計總管合作，共同研發一秒生產一支燈管的設備。當試驗成功時，設計總管擁抱林文仁喜極而泣：「謝謝，我們成功了！」
林文仁追求完美與不服輸的幹勁，讓他以高標準要求台光的生產技術：「美國奇異公司0.8秒就可以生產一支燈管！當旭光良品率是92%時，日本東芝就達到97%，他們可以，我們也可以呀！沒有理由就此滿足，所以後來我們良品率都在98%。」


市場派當道後，旭光最大股東東芝、飛利浦紛紛撤資。在東芝的力勸下，林文仁也把持有的台光股票拋售一空。今年4月，老字號商標「旭光日光燈」因台灣 日光燈公司債務問題遭台北地方法院拍賣，結果被上櫃公司「業強科技」以7,500萬元標下。從此，陪伴台灣民眾56年的「旭光日光燈」正式易主，「旭光」 將不再是日光燈的代名詞，據傳將發展成為LED品牌。
老董事長林文仁的心情可想而知。看著自己畢生的心血付諸流水，林文仁略顯激動，眼角泛著淚光說道：「很心酸啊！這種感覺真不知道要怎麼形容。所以主事者心不正就不行！」
眼觀台灣日光燈的起伏，「主事者心不正就不行」這句話，值得經營者引以為戒。