DATINGWhen will my prince or princess come?

TIPS AND TRICKSHow to survive at your workplace as a trainee

BUSINESS ATTIRE Why you should go

beyond black and white

VOLUME 19 ISSUE 2 OCTOBER 2011

McRENOVATION Would you still be ‘lovin’ it’?

HORRIBLE BOSSESThe reality of horrible bosses and how to deal with them

EDITOR-IN-CHIEF

MANAGING EDITOR Vidur Parmar

MARKETING DIRECTORIzabella Lukow

ADVERTISING DIRECTORSara Bartolomeo

Kunwar Khan

COMMUNICATIONS DIRECTORKehan Zhou

SPECIAL PROJECTS DIRECTORKatherine Chung

Jean ParkJane Park

INTERNAL MARKETING OFFICERAleem Hooda

CSR OFFICERSathyanarayanan Vanamali

PRODUCTION ASSOCIATESIrene Li

Soobia HaiderAlac Kim

Tomi Salami

STAFF WRITERSJenny Kim

Nicolas Guadagnolo

Vishesh Tandon

CONTENT DIRECTORVeronica Wojnas (Fall)

FINANCE DIRECTORAbinash Narayanan

PRODUCTION DIRECTORJuzar SaifuddinAshley Park

IT DIRECTORBaljot SaralMilan Jankovic

ART SUPERVISORKaitlin Simaan

PROMOTIONS OFFICERAda Huang

ONLINE EDITORSKaterina RydlovaJohn Kwon

CONTENT EDITORSMichelle CircostaVaishi Yogendran Amy Dhillon Livia Vangeli

CONTRIBUTORSAsad QuadriDavid MarrelloRohan AroraSabera PanjuGeorge WintersJoelle FricotShane Hebel

the INSIDER

Schulich School of Business, Suite W034FYork University

4700 Keele Street, Toronto, OntarioM3J 1P3

(416) 650-8082www.insidermediagroup.orginfo@insidermediagroup.org

The Insider Media Group is the official student voice of the Schulich School of Business, York University. We welcome submissions from stu-dents, faculty, alumni, staff and community members. The Insider Media Group reserves the right to edit, publish and republish all submissions. No submissions, published or unpublished, may be reproduced without permission. All submissions to the Insider become property of the Insider Media Group and are subject to the Insider’s publishing standards. The opinions expressed in the Insider do not necessarily reflect those of The Insider Media Group.

Dear Readers,

We can now see clouds engulf our vi-sion as Fall – the season and semester – goes through a transitional stage; a perennial fixture that comes about every Reading Week.

Sadly, the turn of this month also brings along the news of Steve Jobs’ passing: a remarkably successful busi-ness man who championed the digital

age in many ways. As insightful as any one of his quotes, his most relevant remark at this time refers to the futility of pride and fear in the face of death – a reality that compelled him to follow his heart. It is my sincere hope that people see Jobs for something that transcends fanaticism and critique. His thinking defined this time and age as one where intellect, no matter how small the idea or source, is the most valuable commodity.

In October issues of year’s part, we have traditionally ex-plored the duress of recruiting season and life as an employee in-depth. In accord, our cover story looks at the theme of “Hor-rible Bosses”: a stereotypical viewpoint that subordinates have at some point of their careers. Nicolas Guadagnolo offers a compelling piece that touches on the reality of this relationship and how glorious – or lack thereof – the aftermath is. The piece includes findings that highlight key indicators of a company’s culture and the interplay of its hierarchy. Amy Dhillon, one of our Content Editors, forays further into work-culture and unpro-ductive team members in “Caution: Slacker at work”.

Catering to our ever-so-enthusiastic finance buffs, we revisit the financial revolution that persists across the globe. We intro-duce how prominent and accessible the foreign exchange mar-ket has become to retail investors in an article written by yours truly (“Sitting at a computer has never been this lucrative”); while also providing a monthly outlook on various stocks in this year’s first “Stock Watch”. On the other hand, Sara Bartolomeo’s piece on the non-profit sector and its financial shortcomings presents arguments that could offset the conflict as a whole.

On a tangent from much of our content, Sky Mitchell explains her rationale when it comes to dating in “Someday, my prince will come?”, and prompts students to be proactive ro-mantics. Continuing this strand of lifestyle topics, Izabella Lukow discusses the advantages of adding a bit of pizzazz to our busi-ness attire in “Colour your world”; while Sabera Panju comments on McDonald’s large-scale renovations across its Canadian restaurants in “McDonald’s makeover: still “lovin’ it?””

Lastly, we focus on Toronto’s mayor - Robert Ford – and his already-contentious tenure in David Marrello’s “Ford nation: the good, the bad, and the ugly”. His brash nature and comments have provoked public outcry at times, particularly as highlighted in Soobia Haider’s “Having fun is not hard when you’ve got a library card.”

As always, I encourage all our readers to remain up-to-date with our Schulich Life blog and digital issues – all of which are available on our website and Facebook page. Our new initiatives and online presence, aimed towards making our content more accessible to readers, have received tremendous feedback. To have your thoughts heard, feel free to get in touch with us via e-mail or in-person – if you can spot me in school, that is. Keep informed!

Best Regards,

Vishesh Tandon

EDITOR’S NOTE

It’s not easy being green

The nonchalant narcissist is gaining popularity

Having fun is not hard when you’ve got a library card

Valuing resources in South Sudan’s independence

Sitting at the computer has never been this lucrative

Innovation in the limelight

Playing with life and death

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Table of contents

An Apple without a core

Ford nation: The good, the bad and the ugly

Trainee tips and tricks

The price of nature’s fury

Risky business in India

McDonald’s makeover: still lovin’ it?

Horrible bosses: comedic myth or unjust reality?

Colour your world

Everything old is new again?

Arriving at York U, York U station

Brown-nosing blues

Social Finance: where doing good meets great returns

Caution: slackers at work

UBC financial report

Someday, my prince will come?

Stockwatch

4 5

Nearly one year ago on Octo-ber 25th, 2010, Robert Ford was elected mayor of Toronto, with

47.1% of the vote. Key among a plethora of promises was to “respect the taxpayer” and “stop the gravy train”. He failed to mention “cut city services” and “reduce literacy.” Needless to say Ford’s approval ratings have dropped by more than 20% since becoming mayor.

So what do people think of him af-ter a full year of governing? Schulich stu-dents whom I have spoken to each seem to have one of three main perspectives. The first one is that Ford is doing the best he can with limited resources. The second and more prevalent opinion is that Rob Ford is not living up to expectations. The third and least commonly held belief is that Rob Ford is the worst thing to have ever happened to Toronto.

I have thus decided to evaluate Rob Ford myself, looking at the good, the bad and the downright ugly things he has done - a Spaghetti Western approach.

The GoodAs someone who subscribes to the belief that Ford has not lived up to expectations, it took me a long time to find something positive to say about him. Eliminating the above-ground Light Rail Transit line on Eglinton Avenue in favour of an un-derground LRT is a definite positive. Al-though the cost is expected to climb from the original plan, it will run faster under-ground and is less of an eyesore.

Another positive point for Ford is his emphasis on fiscal responsibility; Ford has recognized that Toronto has a struc-tural deficit problem. This year Toronto will carry a $700 million deficit; this is fol-lowing last year’s $500 million dollar defi-cit. While I do not necessarily agree with some of the methods the mayor wishes

to use to keep city finances under control, the first step is accepting the problem, which Ford has done.

Privatizing garbage collection is the final positive idea that Ford has enacted. By contracting out, the city saves $10 mil-lion dollars a year without the loss of ser-vice; albeit offering a reduced wage rate for waste disposal workers.

The BadLying to the general public – need more be said? Ford promised the citizens of To-ronto that he would cut out “the gravy” but not city services. With libraries, day care spaces, snow removal, public transit and police on the chopping block, many

With libraries, day care spaces, snow removal, public transit and police on the chopping

block, many Torontonians are rightly outraged.

- David Marrello

Torontonians are rightly outraged; how about his Waterfront Toronto proposal: a giant Ferris wheel, overpriced hotel and a high-end mall, Really?

The UglyThis section could go on and on but I will try to stick to a few examples in which the mayor has shown his ugly side. Recently, Ford was caught giving the middle finger to a woman while driving down Queen Street because she had caught him us-ing his phone behind the wheel. As a defense mechanism to his proposal for closing down numerous public librar-ies, he publically insulted children’s book author Vikki VanSickle during the city council deputations. His public speaking abilities do not do him any favours either – all I hear when he speaks is a string of anecdotes.

At the end of the day, Rob Ford is abrasive, confrontational and boorish. His greatest talent is polarizing Toronto-nians.

Trainee tips and tricksThe first day on a new job is always

the most fun. Okay, perhaps ‘fun’ is not quite the most appropriate

adjective;it is exciting, interesting and above all, incredibly awkward. Most of the time, new employees have no idea what to do; they typically wander around, eventually find a spot in the corner and spend the first few days surfing the web in an attempt to look busy.

Enter the trainer. In today’s complex work environment, it is essential to have a current company employee show you the ropes and let you know what needs to be done in order to succeed in your new position. Some trainers are better than others, but either waya trainer’s ability to teach and motivate new re-cruits has a direct impact on these em-ployees’ work experience; it can some-times make or break their prospects at a new firm.

Having had the unique opportunity to be on both sides of the trainee/train-er relationship over the past year, I have come across some interesting insights that I think are worth sharing. Trainees, regardless of whether you are paired with a terrific or terrible trainer, there

are a number of things you can do for yourself to make the work experience more useful and enjoyable. Check out the list below for some things that you can take into your own hands to en-hance your training time.

Learn through experience. Everyone learns best through experience. Thus, oneof the greatest things you can do for yourself is to participate in various parts of the organization’s operations from the start. Offer to help out in fields that are notyour specialty. Volunteer for projects. Do whatever you can to get as much experience as you can within the company. Even if you may not have had a good trainer, you will make up for it with the experiences that you will gain.

Ask lots of questions. Never be

afraid of not understanding something! In large firms in particular, there are often standard procedures of doing things that you likely have had no expe-rience with. It is expected by everyone that you will be confused at first and it is perfectly okay to continue asking questions until you feel you completely understand a concept.

Your trainer is a person, too. When I started training employees over the summer, I was definitely a little scared;okay, maybe more than a little. You have to remember that your trainer is just another person who was once in your position. They understand what you are going through, that you may be nervous or stressed, but remember they are some of the best people around to help you cope with the transition.

In conclusion, starting a new job is both terrifying and exciting. However, taking advantage of the various oppor-tunities and resources that you arepro-vided with (i.e., your trainer) can make the experience much easier. Make the most of your training period and you will be successful in your positionand rising the ranks faster than you think!

- Shane Hebel

SOU

RCE: ww

w.hikingartistcom

Trainees, regardless of whether you are paired with a terrific or terrible trainer, there are a number of things you can do for yourself to make the work experience more useful and

enjoyable.

6 7

One of the most frightening as-pects of natural disasters is their unpredictability. This is the

very reason news channels and report-ers speculate on the possible turmoil a storm may cause before it hits. It also explains why so many countries invest money into developing adequate pro-grams that track weather systems and geographic movements before the na-ture inevitably shows its power.

Sometimes, after a particularly di-sastrous event has taken place, govern-ments and scientists work together to take preventative measures. When it comes to natural disasters there is much at stake; especially from an economic standpoint.

In theory, it is better to be safe than sorry, but there is such a thing as be-ing over-prepared. It could be argued this was the case with Hurricane Irene. On the other hand, is it worth the risk of waiting to see the effects of a disas-ter and potentially ending up with a Katrina-like catastrophe?

Hurricane Katrina was certainly the costliest disaster to ever strike the Unit-ed States. The total cost of damages was approximately $108 billion. This is

roughly three times the cost of the sec-ond-most expensive American natural disaster, Hurricane Andrew. In addition, there were around 1,833 deaths due to Katrina.

In particular, New Orleans suffered extensive damage as a result of its le-vees breaking, which ruined many of the city’s famous neighbourhoods. During Katrina, many citizens did not evacuate because the levees were thought to be strong enough to protect against the surge of the storm.

The thought of Katrina not only re-minds Americans of the heartbreak the storm brought about, but also the anger at the lack of governmental response. While Katrina was predicted well in ad-

vance as a fast-moving, life-threatening hurricane, preparation for the storm was essentially minimal. This is quite surpris-ing, considering the United States is no stranger to hurricanes; especially during the months of August to November.

The lack of preparation, however, re-sulted inmore than emotional costs. The federal government needed $105 bil-lion in order to bring Louisiana, Texas, and Mississippi into a state of recovery. The Gulf Coast region is a known area of oil production and exportation; nearly 10% of U.S. oil comes from thislocation. All ten oil ports in the region had shut down in the days before the hurricane-and remained closed over several fol-lowing months. Oil production dropped

On the other hand, is it worth the risk of waiting to see the

effects of a disaster and poten-tially ending up with Katrina-

like catastrophe?

The price of nature’s fury and transportation was hindered due to routine power outages in the area; as a result, oil and gas prices spiked all across the United States, with the reper-cussions of this felt around the world.

Katrina also had an impact on the Mississippi Gulf Coast’s thriving casino industry which, prior tothe storm, had beenvalued at $2.7 billion (third behind Nevada’s and New Jersey’s, respective-ly). The hurricane forced all casinos to close down and several fell victim to-heavy damage. A select few did not re-open until as late as 2007.

Forestry is also a major industry in Mississippi,accounting for 10% of all jobs state-wide. Katrina caused exten-sive damage to nearly 1.3 million acres of forestland and of course, no one can successfully erase from their memo-ries thegraphic photos and videos that emerged in the days after Katrina. A his-toric, lively city was virtually destroyed by nature’s wrath.

This description of Katrina’s after-mathprovided a blueprint for the United States of how to respond to (or, rather, how not to respond to) future natural disasters.This is similar to the way the events of Mount St. Helens in Wash-ington State changed the response of Americans to future volcanic erup-

tions. Or, to draw a parallel eastward, it is similar tohow the earthquake that happened this past March in Japan will likely alterthe Japanese public’s reaction to future potential earthquakes.

In the last week of August (coinciden-tally, the same time of yearduring which-Hurricane Katrina had torn through the southern states sixyears earlier), Hur-ricane Irene made its appearance. This time, it was the eastern states that were affected, some of which had not seen a hurricane in nearly 100 years. What was different in this situation, however,was themedia’s heavy emphasison the storm prior to its official arrival. Thiscan be at-tributed to the eastern states’ general inexperience with natural disasters of such a scale; as well as the fact that ma-jor cities such asNew York and Boston were in the direct pathof the storm.

Nearly 65 million people were at risk of being gravely affectedbythe hurricane. Several states implemented emergency protocols.Fourteen in total declared an official state of emergency, with a few even ordering mandatory evacuations. New York Cityshut down its entire transportation system – the busi-est in North America – the day before Irene’s expected arrival. Millions of peo-ple prepared to stay indoors for days,

big league games were postponed and gas shortages were reported across the region.

When the hurricane finally passed, the topic making waves among the public was the unnecessary pre-storm frenzy, for which many blamed the me-dia. While some states did indeed ex-perience severe damage from flooding, others experienced only heavier-than-normal winds and rainfall. The subse-quent shutdown of services enacted in these states cost the region an estimat-ed $10 to $15 billion. While 56 people died due to Hurricane Irene,its destruc-tion clearly pales in comparison to that of Katrina.

Katrina transformed the way Ameri-cans deal with natural disasters. While some may criticize the measures taken against Irene as a form of over-prep-aration, most people just hope they never have to endure what hundreds of thousands of Americans did in 2005. The eastern states might have incurred high costs to ensure that they could ad-equately respond to the threat of Irene, butit was a small price to payin order to avoid the heavy costsof under-prepara-tion in the face of a severe natural di-saster.

- Vaishi Yogendran

8 9

cDonald’s makeover: still “lovin’ it?”

McDonald’s, one of Canada’s lead-ing fast-food franchises, is pro-ceeding with the biggest restaurant makeover in its 44-year history. At a cost ofover $1 billion, the company plans to renovateits 1,400 stores across the nation by late next year. The newly designed stores are in response to changes among con-sumer habits in the expanding $19 billion Canadianfast-food indus-try. John Betts, CEO of McDonald's Canada, commented on this change stating, “People tend to linger a little bit more in restaurants today. They wantto enjoy their meals and take a break from the busy lifestyle they lead and we think our restau-rants today are doing that a lot bet-ter than in the past.”The Canadian locations will incur faceliftscompa-rable to those whichoccurred in the United States earlier this year.

“This is a pivotal time for McDon-ald's and we're placing unwavering focus on transforming the face of our brand,” said Betts, who cited improved restaurant ambience, enhanced service and a continued menu evolution as the goals of this investment.As part of the redesign efforts the company plans to remodel the inte-riors and exteriors of its restaurants by toning down their iconic neon reds and yellows with more subtle oranges, reds, yellows and greens. Their plastic-and-steel chairs and fiberglass tables are being replaced with leather chairs, wooden table-sand large flat-screen televisions playing contemporary music. Other additions include double lane drive-

thrus, modern lamps replacing fluo-rescent lighting and free unlimited Wi-Fi. In addition to these physical rede-sign initiatives McDonald’s Canada will improve its menu options to keep up with the changing tastes and preferences of the company’s target market. One such improve-ment involves the introduction of healthier menu items, such as oat-meal and grilled chicken wraps. The signature Happy Meal has also incurreda change through the ad-dition of strawberry yogurt and a downsized 31-gram serving of fries. Furthermore, McDonald’s Canada looks to introduce various Mc-Cafe products ranging from high-end coffees such as lattes, to fruit smoothies and delicate pastries.This follows the global trend of the res-taurant’s modifications of its menu options to cater to the demograph-ics of a particular area; for example, the chain already offerskosher op-“This is a pivotal time for

McDonald's and we're placing unwavering focus on transforming the face

of our brand…”

tions in Israel and halal food op-tions in countries such as India and Indonesia.This renovation effort is likely to amplify the competition for market sharebetween McDonald’s and Tim Hortons. In an attempt to seize Tim Hortons’ current dominance in the Canadian coffee industry and entice customers towards its newofferings, McDonald’s has handed out over 50 million free cups of coffee over the past two and a half years. While Tim Hortons continues to be the leader in the breakfast and coffee industry, McDonald’s’ current renovations are attemptingto challenge this dominance. McDonald’s Canada expects to fin-ish renovating over half of its res-taurants by the end of this year, with the remainder upgraded by the end of 2012. It remains to be seen whether the renovations will leave customers“lovin’ it,” or not.

- Sabera Panju

SOU

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Bae

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In the midst of another Lehman Broth-ers-like global crisis, it is becom-ing increasingly difficult to imagine

what lies ahead for current economic superpowers such as the United States and the European Union; however, this same situation also brings promise for countries that have rebounded well from the last meltdown. Countries like China, Brazil, South Korea and India are suddenly poised to become the new global superpowers.

While many speculate that China is certain to take America’s place in the global economy, India is not far-behind. India has had consistent economic growth since 2003, boasting a real GDP growth rate of 10.4% in 2010. The coun-try’s economy specializes in agricultural products, while continuing to expand its industrial sector with a 10.6% growth rate over 2010. While this all seems promising for the foreign investor, the real question to be asked is: is India a stable environment?

For years, India has been plagued with terrorist attacks that have taken the lives of many innocent locals and foreigners. This past September, there were two bombings a week apart from each other which claimed the lives of approximately 30 people and injured

hundreds of others. With these attacks happening fairly regularly, the safety of investing in India has come into ques-tion.

It becomes very difficult for foreign investment to enter a politically un-stable country. Countries in the Afri-can continent experiencing civil unrest are seen as “no-fly” zones by investors, who consider their economies as too risky. With all of its troubles of riots and terrorist attacks, why does there seem to be a change of heart with re-gards to investing in India? While it is clear that the Indian economy is grow-ing faster internally than many in Africa, the country remains questionable from asafety standpoint.

Thus, while the current situation does not seem to be dampening inves-tors’ enthusiasm for India as of yet, it is potentially harmful to the future growth of the nation. Not only investors, but many educated professionals from

around the globe will be hesitant to work in India and might even lose faith in the long-term stability of the econ-omy. Similar to its neighbours Pakistan and Bangladesh, India may become a nation too dangerous for investment and public events. Pakistan has already been considered too dangerous for hosting international cricketing events and a sanction like this against India would be economically devastating.

Security within the nation has always been difficult to manage, as might be expected in a country of approximately 1.2 billion citizens with over four major religions. While the government is con-tent with the country’s current global position, it may want to consider the future repercussions of current instabil-ity and attacks.

That being said India has still man-aged to enhance its economic prosper-ity at a staggering rate. Tourism has been growing steadily and the country has become globally renowned in terms of production, food, professionals and entertainment. Despite all the civil tur-moil within the country, it has managed to rise against the odds and will soon secure its place as a dominant power on the global stage.

With these attacks happen-ing fairly regularly, the safety of investing in India has come

into question

-Vidur Parmar

Risky business in India

10 11

“My way or the highway”

Glengarry Glen Ross, Office Space,The Devil Wears Prada and most recently, Horrible

Bosses. For years, Hollywood has been producing movies based on the as-sumption that everybody at one point or anotherhas had a boss that they havehated. Though highly entertaining and equally comedic, these films fall short in providing realistic guidance on how to deal with bad bosses. Yes, there are times when burning down the of-fice seems appropriately cathartic or ditching our phones in the midst of a Parisian assignment seems like winning the lottery. More often than nothow-ever, dealing with a bad boss is far less glorious and leads many workers to believe that they have no choice other than to quit. But to ensure that such a decision is not hastily made, the em-ployee would do well to assess their unique situation as thoroughly as pos-sible.

Is the boss really bad?Before contesting any issue, an em-ployee should realize that their man-date while at work is to dutifully per-form any reasonable task that they are instructed to. The act of a manager in-forming an employee when they have done something wrong is often incor-rectly hyperbolized into the employee feeling personally berated by their boss. In reality though, they are usually

just being managed. In this sense, as an employee the first and best response to a supposedly bad boss is an adjust-ment in attitude. Considering the entire context may expose the situation as a one-off problem and nothing to con-template further.

Of courseconstant conflict with a certain manager is often a red flag for deeper underlying issues. Incompeten-cy, stubbornness, aggressiveness and arrogance are but a few of the traits that may be at the root of a bad boss’ behaviour. Dealing with such character-istics has been shown to cause greater anxiety in workers than that faced by unemployment. When an issue with the boss gets to be less about something unpleasant that they have asked you to do and more about their personality and demeanour, chances are that talk-ing things over with them will prove in-effective, if not disastrous.

Jeff Schmitt, a blogger with Bloom-berg Businessweek, aptly dispels any glimmer of a resolution coming from within the company. “You can call hu-man resources,” he asserts, “Unfortu-nately, companies are like Vegas ca-sinos: the house always wins.”At that point, there are two options to consid-er: suffering through or quitting.

Deciding to quitThe decision to stay with or leave an organization can be a difficult one to make, although it need not be compli-cated. As simple as it sounds, a list of pros and cons can be extremely effec-tive in helping to put the less concrete ramifications of the idea into perspec-tive. For instance, although quitting will result in the financial impact of lost in-come, it will also result in reduced job-related stress. The benefits of the latter tend to outweigh the costs of leaving one’s job if a worker has a backup plan to offset the financial hit, be it savings or another opportunity.

Without a fallback option, the ben-efits of quitting become more difficult to realize. Even though the worker is now dissociating him or herself from

the bad boss, they are welcoming the new stressor of unemployment. The uncertainty that unemployment and navigating the job market brings may thus provide enough incentive for some to decide to stay and suffer. For youth and recent graduates in particu-lar, landing any job is a feat in and of itself and the reality is that most can-not afford to miss even a month’s pay. For established individuals, the situa-tion can be equally dire, as they may not have the qualifications to compete in the knowledge economy. But stay-ing in a relationship with a terrible boss can have severe long-term effects on a person’s well-being, as the stress can erode one’s physical and mental health.

Is choosing to leave foolish or sen-sible?Given the unpredictability of the current job market, there are many who would argue (with good reason) that quitting one’s job solely to rid themselves of a boss they dislike is irrational. However, under no circumstances should an em-ployee have to endure through each workday for mere financial gain. What can make even a well thought-out de-parture foolishthough is not actually leaving the job but rather how the job is left and what the individual does im-mediately afterward.

There is no shortage of hilariously inappropriate ways to give notice and a few notorious instances come to mind. Last year, thechive.com reported on Jenny, an inconspicuous assistant her-alded as an office heroine for tender-ing her resignation via snapshots of whiteboard messages. In the process she labeled her boss as an overbearing, Farmville-addicted misogynist. Though this was ultimately revealed as a hoax, the idea of this kind of resignation tac-tic sparked a media firestorm.

A programmer at 2K Games de-signed a custom Mario game, wherein each mushroom grabbed resulted in “I QUIT!” scrolling across the screen. Paula Abdul famously left her multi-million-dollar judging role on Ameri-can Idol via several drawn-out tweets. Most recently, a purchaser at a Toronto Whole Foods Market sent an alarming-ly frank resignation letter to the entire company that quickly went viral.

Penelope Trunk, a blogger and syn-dicated career coach, writes that “on some level... it’s fun to remind people

Alex Bramw

ell

“You can call human resourc-es,” he asserts, “Unfortunately, companies are like Vegas casi-nos: the house always wins.”

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that they don’t own you... [and] to feel that burst of freedom as you walk out the door. But it’s no fun if you don’t quit right.” What initially feels like sweet vin-dication may actually turn out to be a self-administered shot in the foot. If you do not get along with your man-ager, exposing their flaws on the way out is not going to do you any favours. Forget about passing the pre-employ-ment screening at your next job, let alone getting a reference letter to ap-ply with. Not to mention, unless some-one is known as being able to bring in millions, the more public a separation becomes, the more questions will be raised about their fit with the next po-tential employer.

Saving face involves more than just smiling through your teeth on the way out. It also involves smiling through your teeth nearly every time the job comes up for discussion in the future. Any hints at a dysfunctional relation-ship with a former boss (be it an off-kil-ter blog post, Facebook update, tweet or e-mail) may one day have to be ac-counted for. Unfortunately your future interviewers will not put the former boss on trial, opting instead to lay the onus on you.

Avoiding a bad boss from the startNobody can predict the future and any relationship that you enter whilean-ticipating a bitter end is doomed from the start. Just as employers can spend thousands of dollars on assessing new recruits, the employee is responsible for ensuring that their prospective manag-er is someone they can get along with. A plethora of websites dedicated to company culture and management re-views have popped up in recent years, making such due diligence much easier than it once was. RateMyEmployer.ca has over 23,000 worker-generated re-views of nearly 7,000 Canadian compa-nies. While some reviews are clearly bi-ased, a quick scan usually reveals more honest information about a company than any HR pamphlet would ever dare to.

Rateyourjob-Rateyourboss.com is a similar website, which allows employ-ees to rate their bosses on a scale of ‘asshole’ to ‘excellent’. The name of the manager, the company, and location are all published. But no website can give all the facts about a particular situ-ation and why certain employees end up feeling the way they do about their bosses, so these sites cannot be taken as absolute.

A few questions during the interview can also go a long way in preventing a bad break-up down the line. Simple questions relating to the management style of your potential supervisor, their stance on delegation and the last time they responded to an employee’s sug-gestion can be a great indicator. Many people do not take the time to ask, so

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...Unfortunately, your future interviewers will not put the former boss on trial, opting

instead to lay the onus on you.

although those questions may surprise the interviewer, their willingness to an-swer can be a signal as to whether they will be someone you will want to work for.

Quitting is not something an em-ployee should ever expect to do but it is an option that people have to be prepared for. Even if upon producing a kindly worded resignation letter all that your boss says is a curt “Thank you”, err on the side of caution and re-main professional. Remember that they probably do not and never will know how bad they are. If, after all is said and done, you feel like an unemployed fail-ure, keep in mind the insights of Mar-cus Buckingham: you don’t quit your job, you quit your boss.

- Nicolas Guadagnolo

It’s not easy being greenIt seems that lately, everyone is see-

ing green. With the general trends of being “environmentally friendly” and

“sustainable” becoming increasingly prevalent, corporations have taken notice. Their reaction has been to of-fer consumers green products, adopt a greener corporate culture and in some cases, literally make use of the colour green to signify their commitments to reversing the environmental damage done thus far to the Earth.

At the same time, the economies of Canada and the United States are still in a state of recovery from the 2008 recession, a consequence of which is a continued lack of available jobs. Here is a rare occurrence in which the green trend has the potential to work for economic gain rather than against it. “Green jobs” or “green-collar jobs” in layman’s terms are jobs that help the environment and promote a sustain-able future - predominantly found in the energy and manufacturing sectors.

As recently stated by American president Barack Obama, the emer-gence of green jobs has significant potential to stimulate the employment market through job creation and as such, encourages the growth of this sector in our “brown-collar job”-dom-inated economy; an example of which would be oil extraction jobs.

It seems like a perfect scenario: more jobs are provided for the unem-ployed, while consideration is given to environmental consequences. Working towards alternative energy and allo-cating resources more efficiently also serves to improve everyday business operations; such as through the reduc-tion of shipping costs. On top of that there is more opportunity for new in-dustries to emerge that are solely fo-cused on the environment.

But are the current conditions of our economy right for green jobs to re-ally take off to their full and deserved potential? Just recently, Solyndra (a

“green” solar cell manufacturing com-pany) declared bankruptcy, prompting critics to claim that green jobs are a fad that has already run its course. Further-more, brown jobs seem to be here to stay – the demand for oil and coal has never been higher and their ongoing depletion makes extraction more dif-ficult, leading to the rise of employee wages.

The bottom line is that green jobs are not just a convenient ploy to at-tempt to create more jobs when the economy needs them; they are pivotal to ensuring the continuation of the life-style we have all come to expect. We

We are faced with a deteriorat-ing global state and are de-

pendent upon finite resources which are nearing their end.

- Livia Vangjeli

are faced with a deteriorating global state and are dependent upon finite resources which are nearing their end.

Green jobs can help find innovative new ways to do what we are already used to doing. While they are a rela-tively new introduction to our econo-my, they are here to stay. Besides, at the end of the day a green job is sim-ply a job and the more jobs available, the better the outcome for everyone. It seems to be that green jobs may finally provide the crucial balance between environmental awareness and eco-nomic prosperity.

14 15

It is a notion that is constantly exam-ined and there are several different sugarcoated variations of the ques-

tion: Do individual interests outweigh stakeholder interests? Is there a need for corporate social responsibility? What is good governance? But in the end this all poses the burning question: are peo-ple becoming more selfish? It can be blamed on a generation, politics, or the overall materialist values of society but the question still stands. When did this egotistical attitude of the society we live in become so acceptable?

Some may argue that this issue of selfishness is nothing new. Especially in the world of business, the readiness to look out for number one has always been the prevailing mentality. An article in the LA Times reveals that according to a recent study, Baby Boomers are not likely to concern themselves with leav-

ing their children a decent inheritance. After years of supporting and shaping their lives according to the needs of their children, Boomers are no longer losing sleep over taking care of their kids.

Older generations have always been quick to point out Generation Y as the selfish, lazy, text-messaging generation. Increasingly dependent on technology, Generation Y is often condemned for their inability to do things for them-selves. In contrast to this view Genera-tion Y has also been commended for their use of social networks in demon-strating a proactive attitude towards world issues, such as the unrest that took place in the Middle East earlier this year.

It is common knowledge that we cannot generalize an entire generation. With critics making claims that prove various generations are acquiring grad-ually more selfish tendencies, it is fairly safe to conclude that this age old notion of selfishness is becoming more accept-able in the Western society.

In the world of business it can be said with almost absolute certainty that this mentality will prevail. Climbing to

Climbing the corporate lad-der in the traditional sense has perhaps gone out of fashion, skipping steps now seems to

be the objective.

- Michelle Circosta

the top of the corporate ladder requires swallowing morals and stepping on toes – just as it has in the past. The difference today is that people are more readily willing to admit that the use of these tactics is practically inevitable.

What is a little harder to stomach and contrasts the traditional view of the new generation is their unrestricted am-bition. It is no secret that ambition and work ethic together can make for some brilliant results; however, young people of today are substituting work ethic with self-importance. Climbing the corporate ladder in the traditional sense has per-haps gone out of fashion, skipping steps now seems to be the objective.

Generation Y will always be criti-cized as the ones who could not do it for themselves; however, they are argu-ably finding easier and unconventional ways of getting the job done.

Even though it is more present in today’s day and age, the selfishness of humankind has always existed and shows no signs of faltering. This mental-ity may be gaining acceptance in soci-ety, however, does the end truly justify the means?

The nonchalant narcissist is gaining popularity

Everything old is new again?From 2005 to 2008, sales of vinyl

records have more than tripled. This of course is two decades after

the death of the medium was predicted as inevitable with the introduction of the cassette tape. Today’s musicians are increasingly opting to release vinyl editions of singles and albums, along with digital file alternatives – which could ironically herald the death of the cassette-replacing CD. Why vinyl?

Audiophiles claim that the sound, having been etched into the record itself rather than compressed digitally into a tape, disc or iPod file, is simply far superior. The diversity of ages, income levels and preferred musical styles found among vinyl aficionados under-lines the fact that the format’s popular-ity has caused stretching beyond mere baby boomer nostalgia. Perhaps in this case, the way that they used to listen to music ‘back in the day’ is just a better-quality experience.

In the business world, practices of returning to the old are likewise in-creasingly gaining ground. The quint-essential example of this is found in the concept of relationship marketing. An International Business Review article by Jagdish Sheth and Atul Parvatiyar con-ceptualizes relationship-b ased market-ing as the significant involvement of a business’ customers and suppliers in its marketing and developmental ac-tivities; resulting in the creation and

maintenance of two-way relationships between a firm and its value chain part-ners. This means that customers have both more of an influence on the activi-ties of the company selling to them but are also more dependent on it for the products they need.

How is this so? The trend is quite clear if one briefly examines history. Before the Industrial Revolution, the production of consumer goods (and most goods, for that matter) was a far more laborious process. Craftspeople and artisans would create products one by one and it would take considerable time and expense to obtain something as simple as a set of dishes or a yard of fabric. As such, consumers also had more of a personal investment in the product they were purchasing; along with the opportunity to directly interact with producers and impact the look of their finished product.

With the Industrial Revolution, how-ever, the newfound concept of factories suddenly made it easy to produce hun-dreds of identical goods at the same time. This both drove products costs down, as well as made the emergence of the first types of marketing tactics necessary. Why? With factories, goods were no longer made-to-order for in-dividual consumers, but had to be sold to them through stores. Consumers lost their direct input in the product-creation process and had to be con-

vinced to choose to purchase what the company had already made.

With the growth of efficiency in production processes and distribution channels, direct consumer input was left behind as time went on. However, with the progression of technology making it incredibly easy for firms to sell similar products and economic tur-moil forcing consumers to make high-involvement purchases, many corpora-tions are opting to return to their old ways.

Social media has made it possible for producers to once again connect with the wants and input of consumers in a direct way. Many firms are taking advantage by interacting with the pub-lic at large, through Facebook and Twit-ter pages; wherein they are soliciting input from consumers and attempting to build personal connections between their brand and individuals’ lives.

Of course, one can argue that these connection tactics are less so a return to old ways and instead the results of ongoing pendulum swings of history. Consumers in the past welcomed the arrival of multiple and cheaper purchas-ing options, which turned the tables in favour of a more transaction-based, impersonal approach to marketing; while businesses relished the spikes in profits resulting from rapid expansion into new territory and media-saturat-ing marketing campaigns. However, decades of playing the same game may be causing both sides to grow weary.

Surrounded by more choices than they can examine, consumers are in-creasingly reverting to the methods of accepting recommendations and op-erating on trust of brands. That being said consumers may tire of corpora-tions attempting to become overly in-volved in their lives and force them to adopt a more transactional approach.

Of course, one can argue that these connection tactics are less so a return to old, better ways, and instead reflect the ongoing

pendulum swings of history.

- Veronica Wojnas

16 17

Valuing resources in South Sudan’s independenceOn July 9th, the Republic of

South Sudan became the world’s newest nation-state.

Since it is quite distanced geographi-cally as well as socio-politically from happenings in North America, the new nation has not received much time in the spotlight. A more well-known depiction of the region is not one founded in a history of resilience and independence but instead repre-sented by the rather dismal and un-changing living conditions in the Afri-can continent in general.

What has made the headlines in North American papers for decades is how once-stable nations in Africa have come undone due to public dis-tress, or the more mainstream case of civil wars persisting for genera-tions in some regions (such as that in Darfur, for instance). Factors in these protests and wars include religious beliefs, struggles for political strength and citizens experiencing significant poverty. The underlying ‘story’ in Af-rica, though, will always be its pure

inheritance of resources. The region’s history largely reflects the very curse of this wealth, with large popula-tions struggling through famines due to poor planning, infrastructure de-stroyed at its infancy, and widespread corruption.

Sudan has been divided from its formation, with a history of dissident political parties opting to split the country in an attempt to ease internal unrest and prevent total destruction. This resulted in Southern autonomy in 1972, which was lost in the next de-cade and regained after another slew of wars. In 2005, a peace agreement

gave a Southern-based government control. This was later formalized with the establishment of South Sudan as an independent nation-state.

South Sudan faces no lack of re-sources, including significant deposits of oil and capacities for agriculture. Yet, it is still a country with some of the poorest and unhealthiest living conditions in the world. Economically speaking, mounting debt and infla-tion have done nothing to improve its overall growth. The trace of cau-tion in the optimism of the Sudan People’s Liberation Movement (SPLM) speaks volumes of the struggle they face: running water in South Sudan is scarce, there is no national elec-tric grid, 80% of adults cannot read or write and there only 38 miles of asphalt-covered road to be found in the region. While the nation produces the majority of Sudan’s oil and 0.5% of the world’s output, infrastructural and educational development are easier said than done.

Scepticism in African politics is far

South Sudan faces no lack of resources, including significant deposits of oil and capacities for agriculture. Yet, it is still a country with some of the

poorest and unhealthiest living conditions in the world.

UN Photo Tim McKulka.w

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from being an unfounded practice but the benefits of South Sudan’s se-cession do seem substantive on pa-per. Religion will diminish as an area of conflict in the region, as politi-cal parties governing both divisions are now represented more uniformly than before independence. The in-terests of both business and citizens will also be serviced in a more specific manner federally. What remains un-changed for this nation-state, at least for the foreseeable future; however, is the absolute necessity of working with its northern counterpart. Dif-ficult agreements between the two Sudanese need to be reached – both in terms of revenue splits for oil, as well as regarding debt and inflation-ary cost-sharing between the North and South. A democratic setting is impossible and conceptually ineffec-tive in this case. However, historically, these types of discussions have sim-ply served as a smokescreen for cor-rupt officials.

Foreign aid will enter the picture in a major way, whether it is through international financial support or in-frastructural provisions. While slow

progress and “strings attached” aid agreements may prevail, without any external support conditions would only become progressively worse in this region where internal governance often runs low.

As it was at the last time South Sudan gained a sense of autonomy,

raising the flag represents a symbol of hope for citizens. This moment marks an obstacle conquered after years of militancy and victimization. However, if the country wants to move forward, the mistakes of the past will first need to be confronted.

-George Winters

18 19

Sitting at the computer has never been this lucrativeForex (FX), a buzzword that has

been spreading across cyber-space over the past few years,

refers to a financial market for trading currencies. The foreign exchange envi-ronment is a global, decentralized net-work made up of investors of all sizes. Averaging a daily turnover of $4 trillion (according to a 2010 Triennial Central Bank survey), it enables players with as little as $100 to participate in psycho-logical interplay that could double or triple that sum. Operating almost ev-ery day and around-the-clock, Forex is an ideal testing ground for any finance aficionado.

At this point, you are probably won-dering what psychology could pos-sibly have to do with a model that is technically sound in every respect. But think back to your first macroeconom-ics lecture, which praised the ideals of perfect competition and idyllic market conditions; the Forex market is struc-tured upon these conditions.

Unfortunately, in an ideal market scenario, a $100 balance by a small investor would likely meet its end due to intervention by central banks. The volume of small investors trading at all times made possible by Forex’s de-centralized system places human psy-chology at the forefront. Our sheep-like reactions to news and charts are responsible for the seemingly arbitrary market volatility that plagues inves-tors.

Understanding the psychology of investors and its impact on financial markets is not an exact science but be-ing aware of it provides any investor with the foundation to succeed. The saying “the trend is your friend un-til the end” is a reality that one must abide by at all times. But that is not to invoke fear. Whether you are a sea-

soned investment banker or a student working part-time for minimum wage, Forex trading is for you.

Catering to traders’ unique prefer-ences, there are two broad techniques: scalping and swing trading. The for-mer focuses on individual trades that last only for a few minutes; while the latter explores longer-term options that factor in timeframes (referring to the value of each point, candle or bar in a chart) over 30 minutes.

The ease with which almost anyone may join this league of investors has provoked much criticism. Some indus-try watchers view the general public’s growing participation in Forex trading as a destabilizing force that is making the market act as a gambling den. Not surprisingly, legislation compels all buyers and sellers of the Forex brand to provide cautionary notes. But de-spite the risks involved, the wave of in-terest in this form of investing has yet to recede.

A few websites exist to keep the general population informed. Expand-ing on trading signals with a plethora of educational resources, sites such as Babypips (www.babypips.org) offer an exhaustive run-down of securities trading. Afterward, you can set up a free demo account (the ‘Metatrader’

platform is popular) and practice with easily adaptable manual systems be-fore moving on to trading real money in the actual market.

Social media and the advancement of securities-related technology have made all of this possible. Forex is at a peculiar stage where a bubble is seem-ingly apparent; however, as far as the realm of independent portfolios is concerned, it also represents a fairly safe opportunity to increase your fi-nancial standing.

Operating almost every day and around-the-clock, Forex is an ideal testing ground for any

finance aficionado.

- Vishesh Tandon

Idham Azhari- Forex D

ollarN

BC Reviews

Innovation in the limelight

In this modern day and age where the proliferation of information sometimes beats the speed of light

and any ideas can cause billions to be made or lost, it is necessary for every business to be proactively seeking new ways to shift business fundamentals. If a corporation wishes to survive in the current business climate, it must learn to innovate and anticipate innovation-spurred changes. Flexibility and collab-orative management are the rules of the game and if a corporation cannot adapt, natural selection ensures that it will not last for long.

Innovation within an organization is promoted by encouraging employees, managers, customers and other stake-holders to speak their minds. Their input is utilized to generate effective solutions that streamline business pro-cesses, improve the efficiency of op-erations or even create a complete new

set of business operations. It has been observed in firms that the efficiency of operations improves drastically when employee criticism is taken seriously rather than brushed under the corpo-rate rug.

It was the plant workers in Honda’s car-manufacturing operations who provided key information to manage-ment regarding the decentralization of inventory stockpiles, which resulted in leaner manufacturing processes and Total Quality Management (TQM); ap-proaches that have saved Honda bil-lions to date.

Another example where stakeholder feedback has led to marvellous leaps in innovation is provided by Amdocs. This multinational giant has more innova-tion output per employee than any other corporate entity in its industry. Then again, when a company identifies itself as the market leader in “customer experience systems innovation,” it is clear that within the organization, in-novation has a special place of its own.

Amdocs holds annual four-day Cor-porate Innovation Camp, where em-ployees, customers and middle man-agement gather to come up with $100 million ideas. The figurative cherry on the cream cake of innovation is that these ideas are generated while par-ticipants engage in activities such as:

juggling, origami, astronomy and im-provisation theatre to help open their minds. At the end of the four days, the ideas are reviewed by top management and the top ones are chosen within 24 hours.

Imagine having to manage an or-ganization where 7,000 scientists from 85 countries worldwide have been col-laborating for 20 years to study the most complex system ever built. Now consider that their goal is to replicate the conditions of a billionth of a second after the Big Bang and the task seems herculean. This is how things operate at the Large Hadron Collider (LHC) at the European Centre for Nuclear Research (CERN).

At this Wall Street of particle phys-ics, everyone manages themselves and everyone manages each other. CERN creates a framework for people to share ideas while retaining a sense of ownership. This simple and revolution-ary approach to innovation can be ad-opted by any organization, of any scale, in any industry.

Innovation is undoubtedly the fulcrum on which the lever of corporate success operates; however, it is the re-sponsibility of the management of an organization to be proactive and take initiative in its generation.

- Rohan Arora

Flexibility and collaborative management are the rules of the game and if a corporation cannot adapt, natural selection ensures that it will not last for

long.

Edith Valle via Cedim N

ews

20 21

An Apple without a core Ranked as arguably the greatest

company of our generation by sources such as Fortune Maga-

zine, Apple has been the source of much heated discussion and specula-tion regarding its future after the res-ignation and recent death of its former CEO, Steve Jobs.

Year after year, Apple has wowed the public with its innovative market-ing strategies and groundbreaking products. Its popularity has maintained consistency ever since the first iPod was launched on the market. The com-pany’s success, however, is largely due to the immaculate vision and plans of its now former CEO.

To put it simply, Steve Jobs was the core of the apple. He is the man whom any budding entrepreneur should as-pire to emulate. Why? From the begin-ning of his time with the company, he had faced both successes and failures. Yet, he was able to effectively re-invent himself and his company – transform-ing Apple into the revered company it is today.

The climb to the top was not free of obstacles. The company faced a barren period from the mid-1980s to the early

1990s, as Jobs struggled to find a place for the brand within the market. In our classrooms, we often hear professors emphasizing the importance of adapt-ing to the market, which is precisely what this entrepreneurial mind did. The company paved the way for elec-tronic personal data assistants in the mid-1990s and subsequently returned to a profitable state.

Known for his great attention to detail and heavy involvement in the design and engineering of Apple prod-ucts, Jobs has been referred to as Ap-ple’s most valuable off-balance sheet asset. After his departure, analysts and shareholders are worried that the com-pany’s future is in jeopardy.

A major cause of concern is the fact that the company’s stock price decreased significantly upon the an-nouncement of Jobs’ resignation; re-gardless, Apple consumers and fans

need not worry. The fall in the stock price is nothing more than a short-term effect of Jobs stepping down.

Tim Cook is a worthy successor, who possesses similar characteristics to his predecessor. These include a great at-tention to detail and even a dash of ec-centricity. Cook is credited with pulling Apple out of manufacturing by closing factories and warehouses around the world. This move helped the company reduce inventory levels and streamline its supply chain, dramatically increas-ing margins. It has even been argued by some that Cook possesses a more analytical mind than his predecessor.

In short, when it comes to sustain-ing its competitive advantage, Apple’s position in the market should not change dramatically under Tim Cook’s regime. Cook possesses all the traits required for the job. He has a sharp mind and has been directly involved with the success of the company for a decade. Though the mastermind be-hind the genius of Apple has officially been subtracted from the equation, this Apple should be able to go on without its core.

Jobs has been referred to as Apple’s most valuable off-balance sheet asset.

- Asad Quadri

fast

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pany

Playing with life and death: Is there need for more supervi-sion in Canada’s medical system?Fraud, poor judgment, incompe-

tence; these are the last words one would want to hear about

someone who is responsible for mak-ing life-and-death decisions. Yet, they have been used to describe many physicians as more and more medical practitioners are accused of misdiag-nosis and fraudulent behaviour.

The Canadian medical system is re-vered as being one of the best in the world. Like any system though, it is not without its flaws.

In recent years, there have been numerous cases of misdiagnosis. Health officials in Newfoundland re-vealed that there had been serious er-rors in over 1,000 breast cancer tests; resulting in wrong treatments and needless surgeries being performed. Another case was that of Dr. Charles Smith, a forensic pathologist regarded as one of the best in the field. Respon-sible for conducting child autopsies, Dr. Smith’s faulty “results” led to over 20 wrong convictions.

In other cases, numerous physi-cians in Toronto have been accused of OHIP fraud. From a plastic surgeon using OHIP to cover cosmetic proce-

dures to doctors billing OHIP for hun-dreds of patients to whom they had not provided services; OHIP fraud has become increasingly common.

The impact of these incidents upon the lives of those involved and on tax-payers is tremendous. Based on judi-cial inquiries, it was found that many labs in the country are not audited; neither is OHIP’s billing. Jim McCarter, Auditor General of Ontario, estimates that doctors overcharge Ontario tax-payers approximately $8 million per year.

Another complaint is regarding the prescription of unnecessary medical tests. In particular, family doctors of-ten pass along their patients to various colleagues. Doctors claim that they do so as a precautionary tactic to provide the best care for patients and ensure

Jim McCarter, Auditor General of Ontario, estimates that doc-tors overcharge Ontario tax-

payers approximately $8 million per year.

- Soobia Haider

all of the bases are covered. In the US, this is often done so doctors can avoid lawsuits; but why in Canada? As a long-term volunteer in hospitals, I must attest that the patients play a big role; as many feel safer with a second opinion.

Personally, I believe that the pass-ing along of patients to other special-ists shows a lack of skill. There are many cases that are difficult to diag-nose. In these cases, consultations with colleagues must be conducted; however, if a doctor were to take the time and learn more about the medi-cal history of each patient, they would be able to narrow the range of pos-sible diagnoses. Rather than rushing through patients to show high levels of quantity, the quality of care should be the emphasis. Medicine is not a ca-reer that should be commercialized.

As medicine is of the most com-petitive fields to enter, I expect that the physicians produced by the Cana-dian system are extremely qualified.

In a field centered on ethics, acts of fraud and error are a signal that the system needs supervision. This could mean creating a board that provides support for physicians battling difficult cases, regular testing of those work-ing in areas where errors are common, and annual audits. It seems that even health care requires the careful man-agement, organizational design and application of accounting typically as-sociated with business.

Tiag

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22 23

Business attire – two words that we hear quite frequently at Schulich; this concept goes hand in hand with

two others that we hear on the regular: information sessions and group presenta-tions. From ankle skinnies, to tweed blaz-ers, to Mary Janes….the list of business professional dress options is endless and full of potential.

With the wide selection of clothing available, one would expect to see a bit more colour in the professional world. Being the bold business leaders that we Schulich students like to consider our-selves, is it not fair to assume that our sense of style would showcase a little bit more risk? That being said, black, white and grey are the uniform to which it seems we have grown accustomed.

Standard business attire has always consisted of the classic black blazers, black dress pants and white dress shirts; however, according to colour psycholo-gist Lynda Goldman, people unknowingly associate certain personal attributes with certain colours. While it is a fact that dark colours are said to project power, it is just as true that black is not the only dark co-lour available. So, where exactly does the happy medium lie?

Navy and grey, two trendy colours for Fall 2011, are also subconsciously associ-ated with sophistication and class. It is im-portant to pair the appropriately coloured suit to the event that you are attending. For instance, a navy blue suit projects con-fidence and class, as well as co-operation. This may be why many large corporations use blue in their logos, such as General Mills, Kraft Canada and Johnson & John-son – to name a few. Perhaps investing in a navy blazer or jacket for an upcoming interview is not such a bad idea.

Although the use of colour is encour-aged, there are a few tones to avoid in or-der to be taken seriously in the business realm. Yellow and orange are informal co-

lours that may come across as juvenile in the workplace. Although a yellow acces-sory may add some pizzazz to an outfit, a yellow suit is a bit much. Bold colours such as these must be worn in careful moderation.

It is also important to find the delicate balance between professional and fash-ionable. Red is a great bold color that attracts attention; the colour quickly ap-peals to all eyes. However, it must be used with caution. Red is fabulous when doing presentations and speeches. It is however,

Colour your world

strongly associated with independence, which does not project the team-player mentality that most companies require.

In conclusion, the Spice Girls said it best years ago when they advised us all to spice up our lives. I encourage everyone to consider these words of wisdom and apply them to our rather monochromatic current business wardrobes. The chal-lenge is to stand out in a crowd and some colour in your wardrobe might be just the way to do it. -Izabella Lukow

Being the bold business leaders that we Schulich students like to consider ourselves, is it not fair to assume that our sense

of style would showcase a little bit more risk?

Jorg

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How many of us remember life be-fore Google, when we needed to get books from the library? Aside

from just books, how many of us remem-ber going to the library simply to be in a peaceful environment and escape the hustle and bustle of life? Though it may seem overly sentimental, recent events show that many Torontonians have not lost faith in the city’s public library system.

A highlight of the past few months has been the controversy surrounding the public spending cuts proposed by mayor Rob Ford. With Toronto battling a huge $774 million deficit, the city’s team of KPMG consultants suggested city-wide cuts ranging from selling the Toronto Zoo to cancelling student nutrition pro-grams. Despite these, the proposition to cut spending on libraries and close down many branches has sparked the biggest backlash and fiercest anger.

Mr. Ford’s brother, Doug Ford, first ig-nited the debate when he attacked pub-lic libraries, stating that he would shut a branch “in a heartbeat”. He also claimed that he did not know who Margaret At-wood (an internationally renowned Ca-nadian author) was and would not recog-nize her if she walked right past him. Ms. Atwood hit back by supporting an online

Having fun is not hard when you’ve got a library card

The question though, becomes: despite the support, are To-

ronto’s libraries actually used enough to justify the signifi-

cant government spending on them?

petition to save Toronto libraries. A simple mention of the petitions crashed the host website, which within hours had up to 23, 000 signatures. Similarly, a Toronto-wide “Why My Library Matters to Me” cam-paign received an influx of entries show-ing further support.

The widespread opposition and a drop in the polls have prompted Mayor Ford to retract his words. He recently issued a statement stating that, as for now the city would not close any branches. The ques-tion though, becomes: despite the sup-port, are Toronto’s libraries actually used enough to justify the significant govern-ment spending on them?

With the ease of access offered by the likes of Google and Yahoo!, the availabil-ity of scholarly journals and news sources with the click of a mouse, increasing e-book sales and a decline in overall read-

ership trends have shown a decline in li-brary visitation.

On the other hand, many branches located in low-income areas have noted that the recent economic hardships have increased library visitors. As more people seek employment, they rely on their lo-cal library for information on training, job opportunities and literacy programs. Youth also rely on their year-round tutor-ing services and summer recreational ac-tivities.

The significant city deficit does indi-cate that spending cuts are necessary in order to avoid a buildup of debt. Cuts need to be made and libraries must share the burden along with other programs. It is excessive to completely shut down branches but action must be taken. This may include closing branches in areas where an alternative branch is acces-sible and decreasing library hours. With variations of library usage across the city further research has to be conducted to determine which branches are used more often.

Take it from someone who spent a large portion of her childhood at the li-brary: it is hard to argue that libraries are not an important asset to any community. -Soobia Haider

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Arriving at York U, York U station

Fall 2011 has brought several new changes to the York campus – not all of which are equally welcome. Aside

from the long-anticipated news of a Star-bucks opening on campus, York students were greeted with a detour to class due to the construction of the new TTC sub-way station. Having a subway station on the school campus is expected to simplify transportation for commuting students who currently have to transfer to a bus to get to school … but will it?

The Toronto-York Spadina Subway Ex-tension project (TYSSE) will provide a TTC subway line across the municipal bound-ary between the City of Toronto and the Regional Municipality of York. Costing about $2.6 billion, the TYSSE is fully fund-ed by the federal, provincial and municipal governments. It is anticipated to bring im-provements in transportation for not only students within the York community, but individuals living in York Region as well.

This project will be an extension of the Toronto-York Spadina Subway line, extending the system from Downsview Station to the city of Vaughan. As a re-sult, two stations are to be built directly on or near campus (one at the main en-trance next to the Schulich building and the other on Steeles Avenue West near Calumet Residence); along with four other new stations.

The subway extension will bring ma-jor changes, especially to those students who use TTC services every day to get to school. Waiting lines for TTC buses will be reduced and the need for certain routes eliminated altogether, which will help ease

campus traffic congestion. Many students believe that the new TTC subway stations will definitely improve transportation, especially since York University is a com-muter school.

“With the subway extension, students will find it easier to transport to differ-ent places and not wait for the TTC buses that usually don’t come on time. Too bad I won’t be around by the time the station opens,” says Michael Yoo, a fourth-year Schulich student who has been using the TTC’s services to commute over the past three years. Even those who are not frequent users of the TTC welcome the subway construc-tion. “I don’t really use TTC that much, but the new station would be a time-saver when I go downtown,” stated Sunmin Lee, a commuter who uses GO transit to come to school.

On the other hand, certain Viva and Züm users were less than happy with the construction. When asked about the con-struction, Cindy Yoon (a third-year iBBA) expressed her opinion on the matter: “I hate it. It now takes me ten minutes more than usual to go to my classes. So, now I have to leave 30 minutes earlier than usu-al to get to class on time. The subway will start operating in 2015 and I won’t even be in school then. I wish they could find advanced technology so they could finish all of this in two years. Also, the Bronfman Library is no longer a quiet place to study, because with all this construction going on it’s really difficult to study and focus with all that noise. It’s really loud during classes too, because the construction is

right next to the Schulich building.” Jin Kim, a Viva user, shared her

thoughts as well. “Every day I come to school, I have to fight against the dirt from the construction that always gets into my eyes. It takes double the time to get to my classes. I just hate this detour right now. The Viva station has moved further away from the buildings now and it’s really frustrating in many ways. I don’t even use TTC and I won’t get any benefit from it anyways. I feel like the Viva users are the ones who are faced with all these negative impacts of the construction.”

Although it is evident that the new subway stations will definitely ease trans-portation for the majority of students, many are concerned with the changes and discomfort they have to face during their construction. The relocation of Viva, YRT and Züm bus stops and the inten-sity of construction is likely to continue frustrating and discomforting non-TTC commuters. Are all of these problems and the $2.6 billion put into the TYSSE worth the project’s future benefits? We can only wait and see when the subway begins to operate in 2015. -Jenny Kim

“I don’t even use TTC and I won’t get any benefit from it

anyways. I feel like the Viva us-ers are the ones who are faced with all these negative impacts

of the construction.”

York University

There is no question that in today’s society flattery, will assist in maximiz-ing opportunity; the question is, how

many of us are truly willing to swallow our pride?From a relatively young age, it is possible to identify those who will go to great lengths to get ahead. Whether it is influenced by their parents who brought their elementary school teachers coffee everyday or their ability to suck up may be self-learned; these individuals are easy to spot and their knack for brown-nosing only gets more intense with age.

As we get older, the stakes get higher and we have a greater desire to obtain the upper hand. Most of us would like to be-lieve that we have too much self-respect and would never use this means for per-sonal advancement; but the fact is that it is only a matter of time until we eventually resort to this method.

Whether it is a feeling of inadequacy, a need to overcompensate for low self-esteem, or just an ambitious longing to succeed, there is no doubt that the reasons behind the need to brownnose are varied and usually unhealthy. Often, helicopter parents and their unachievable standards

Brown-nosing blues

drive those who possess this level of ex-treme ambition to turn to brownnosing. In these situations, it is no wonder people resort to more creative ways of getting ahead.

When a professor is responsible for 20% of your mark via a participation grade, or a recruiter is in charge of hiring for the most coveted summer internships, some-times it just makes sense to take more drastic measures in order to ensure suc-cess. If you know you are not particularly qualified, is it wrong to try an alternate means to get ahead? We often hear claims that other people “paid for their marks in high school”, or that someone has “paid their way”, into a school or onto a team – sometimes it is the truth. However, is it truly wrong for someone to pay their way into a school or befriend the dean of ad-missions?

If an action cannot be quantified, can it still be deemed unethical? When some-one commits a crime, lawyers and judges try and determine the appropriate pun-ishment. How can one determine if and to what extent the consequences should be for an action that more often than not can only be identified by people exterior to the situation? It is not as though you are always aware someone is trying to use you or manipulate your emotions for some type of personal gain. The fact that brown-nosing is so dependent on the feelings of the individual being brownnosed makes it almost impossible to condemn. The only

person who could truly identify it would most often have positive feelings toward the perpetrator and not see their actions as brownnosing but simply as gestures of good nature.

Perhaps it is simple human nature to be susceptible to flattery and that is not always a bad thing. When someone pays us a compliment, we feel good and that personal satisfaction in turn leads us to develop positive feelings toward the per-son who paid us that compliment. It only seems practical to be using this flattery as a tool to help build relationships with fel-low colleagues and even superiors; but is there an invisible line and if there is how do we know when or if we cross it?

Whether we consider it ethical or un-ethical, fair or unfair, it is a known fact that flattery works. It is never shocking when brownnosers succeed. Qualified or not, there is no doubt that their brownnosing is what ultimately brought upon the success.

Politicians get elected on their likeabil-ity, if they had the choice they would not talk to every person with crazy opinions that stops them on the street – but they do. Most often they even go a step further to try and gain that person’s trust and in turn, their vote. Maybe the acceptability of brown nosing is situation-dependant. However, there is no way to be certain and surely no way to steer entirely clear of the perpetrators, the victims, or the effects of this phenomenon.

-Joelle Fricot

Most of us would like to be-lieve that we have too much self-respect and would never use this means for personal

advancement.

26 27

Along with the vast majority of the world’s developed countries, Canada is struggling to address

numerous social and environmental challenges. Tackling issues such as Ab-original unemployment, immigration settlement and sustainable power gen-eration is a daunting task; especially amidst an economy teetering on the brink of another recession. Both the public and non-profit sectors are pri-marily responsible for undertaking such philanthropic initiatives and have made considerable strides over the past few decades in doing so. Yet these sectors have lagged substantially when com-pared to the ability of the private sector, particularly capital markets efforts to raise funds quickly and on a large scale.

Enter social finance, a concept that successfully aligns the incentives of the private investor with the public good. Commonly referred to as “impact in-vesting”, social finance mobilizes pri-vate capital and uses financial tools to support initiatives; these create social gains in conjunction with a strong fi-nancial bottom line. It builds upon the patient capital model, where investors assume an active role in supporting the growth of a socially responsible com-pany.

One of the most successful and commonly used instruments in this branch of finance is the social impact bond (SIB), which represents a partner-ship between the government, private sector and an agency providing a so-cial service. Despite the name, SIBs are more similar to equity investments than bonds; as those who invest in a social initiative are entitled to a share of the savings that a government yields if the social outcome target is reached. Following the success of a pilot proj-ect launched in the United Kingdom last year, social impact bonds are gain-ing enthusiastic support from govern-ments worldwide. In this project, the UK Ministry of Justice paired with a prison rehabilitation program that had been successful in reducing the likelihood of prisoners reoffending.

The costs associated with reoffend-

Social Finance: Where doing good meets great returns

ers total close to £10 billion annually. Over £5 million pounds were raised through social impact bonds; whose in-vestors can expect a rate of return any-where from 7.5 to 13 percent on their investment if reoffender target reduc-tion rates are achieved. By transferring some of the risk associated with proj-ects such as this one from the govern-ment to investors, the non-profit sector is granted access to far more capital while fostering a more innovative en-vironment.

The American government has fol-lowed the United Kingdom’s lead on the social finance front, with a $100 million investment into researching and developing its own financial mecha-nism similar to the social impact bond. Australia also plans on launching a pilot SIB program.

Last month the Canadian govern-ment, hoping to emulate the success of this project, announced plans to launch the Centre for Impact Investing here in Toronto. Within days of this announce-ment, the Ontario government, along with numerous other partners, publi-cized the creation of the Social Venture Exchange (SVX). The SVX will act as a market for socially-minded small and medium-sized businesses seeking up to $10 million in financing through debt products and private equity. Though currently a pilot project, the SVX intends to raise at least $1 million in new capital for upwards of ten social ventures in its first year. Canada’s nascent impact-in-vesting market thus presents numerous opportunities, as it is currently valued at $2 billion and is expected to grow to $30 billion over the coming ten years.

The recent flurry of interest in social entrepreneurship here in Canada fol-lowing these plans presents the perfect opportunity for Canada to overcome its reputation of lagging innovation. Per-haps Prime Minster Harper’s declara-tion that 2011 is the Year of the Entre-preneur may come to fruition after all and the perception of capitalism solely as a catalyst for greed finally be put to rest. -Sara Bartolomeo

By transferring some of the risk associated with projects

such as this one from the government to investors, the non-profit sector is granted

access to far more capital while fostering a more innovative

environment.

barchestergreen.co.uk

The importance of making a mutual effort within a group setting has almost certainly been impressed

upon you multiple times throughout your academic career. For good reason, seeing as how almost every job involves some type of collaboration with, or de-pendence upon, one or more colleagues. Unfortunately, one common element in most teams is the existence of a slacker. As defined by Merriam-Webster, a slack-er is “a person who shirks work or obliga-tion.” Dealing with these individuals can become a real problem in the workplace, one that brings a fair share of resent-ment, aggravation, and stress.

There is a difference between em-ployees who get their work done and use their remaining time to relax,and those who do nothing but relax. There is probably criticism to be found with the former if you subscribe to the “there is always something more than can be done” school of thought. The real diffi-culty though, is with the latter, particular-ly when the slackers get away with their lack of productivity. The very fact that al-

most everyone has had some experience with a colleague who does not pull his or her weight leads to the conclusion that slacking in the workplace is a common phenomenon. So, they must be doing something properly to get away with it, right?

There are a few factors that lead to the continued existence of slackers. Some slackers are opportunists so instead of being productive all the time, they turn on their charm when a manager or senior employee is looking over their shoulder. This is the man or woman who will do nothing but tweet at their desk all day, yet is somehow full of hollow insights during meetings whenever a manager is present. Other slackers can only be de-scribed as incompetent in the sense that they refuse to understand the task at hand, but are lucky enough to never be called out on it. Finally, some slackers are just well- liked – which matters, when the one who likes them is the boss.

What can be done about these unpro-ductive workers, who take credit where it is not due, increase your workload, and raise your blood pressure a few notches? A good starting point is to ensure that they really are aware of their assigned task and the relevant deadline - a firm reminder is better than an order. Get to know them, make them feel part of the team and find outwhat motivates them, and use it to the team’s advantage. Fi-

nally, stop saying “yes” to them. If you al-ways take on their responsibilities, there is little incentive for them to pick up their slack. There is a fine line between feeling obligated to get the job done, and allow-ing the slacker to continue in their ways.

Instead of losing the time, energy, and taking on the opportunity cost associ-ated with doing a slacker’s share of the work, do your best to communicate with them, create accountability, and clarify the goals of your team. Motivation, not intimidation, can strengthen even the weakest link. -Amy Dhillon

There is a fine line between feeling obligated to get the job done, and allowing the slacker

to continue in their ways.

hikingartist

Caution: slackers at work

28 29

As another school year begins, you are probably thinking about your future – well, hopefully you are. If

you are graduating, you might also be sharing in my feelings of panic as you try to figure out your next steps, praying that some magical messenger will show up on the doorstep to present a promising fu-ture. It is more likely though that you are scurrying around, distributing resumes and hoping that someone will call for an interview.

My phone has yet to ring but I am sure that for all of us, that exciting call will come at any moment. Once the initial thrill wears off though, it is time to think. How to prepare? What will they ask? What to wear? This sounds awfully famil-iar. While I have done a few interviews in the past, this familiarity stems mostly from the fact that these are essentially the same questions I have asked and that you should be asking yourself before a first date.

Before proceeding, let me take a step back. You are probably wondering, “Who is this crazy person writing about dating in my business school’s paper? Has this girl lost her mind?” While I cannot make any promises of sanity, I did spend a year writing several articles about dating and maintaining a successful dating blog. So I do know a thing or two about the topic (which needless to say is my favourite).

We are all running around ensuring that we get interviews that will start our careers, which will lead to success and happiness. But what about dating? My conversations with many single friends at school have led me to believe that too many people are just waiting for the right person to appear in their lives. While they want to find Mr. or Mrs. Right incredibly badly, there is no effort being put into the task of searching. Do people really believe that a life partner is going to fall from the sky? That is about as likely to happen as the CEO of PricewaterhouseC-oopers knocking on your door tomorrow morning.

Yes, people do meet by chance and live happily ever after. I dated someone for eight months whom I had met wait-ing in line at the LCBO; but even in those situations at least some effort is required. Many of my single friends ponder, “Why

does it not happen to me? What is wrong with me? When is it my turn?” An unfor-tunate amount of those single friends do not put themselves out there. They make no special effort for a first date and they never call people back. They are just sad and mopey; waiting and waiting and waiting… for what, I am unsure.

As Schulich students, we have stamina. We wear stiff business suits with uncom-fortable shoes, join a million clubs and study until all hours of the night – all to succeed professionally. I see this amaz-ing effort every day at school; can we not put some of this energy into our personal lives as well?

To wrap this up and leave you with a piece of advice, I will say this: If you are in the same boat as these single friends of mine hoping that you will meet someone, begging for personal introductions to po-tential partners, praying that you will fall in love – then you have to put in the ef-fort too. The next time you are in a dating situation, think about the effort that you put into school. You persist, you com-municate, you dress up, you impress. Call me crazy but in order to have a fulfilling personal life, you need to put in this level of effort. In turn, if this is indeed what you are looking for good things will happen and you will find that magical happiness both in your career and your dating life.

Do people really believe that a life partner is going to fall

from the sky? That is about as likely to happen as the CEO of PricewaterhouseCoopers

knocking on your door tomor-row morning.

- Sky Mitchell

Danny G

uy

Someday, my prince will come? The importance of effort

StockWatch

Hercules Offshore, Inc. (Nasdaq: HERO)Like many companies in the industry, Hercules has seen its market capital-ization diminish significantly in light of recent market instability. After a strong price rally earlier in the year, its mo-mentum has turned and the stock has been in a strong downtrend since June. With a negative operating margin and an inability to keep pace with industry-level revenue growth, HERO does not seem to be a strong long-term value play. The company’s current operating margin of -18.62% trails similar-sized market participants such as Approach Resources (AREX) and Venoco (VQ) (at 20.58% and 4.49%, respectively), while industry revenue growth rates of 29.1% greatly outpace Hercules’ 7.8% growth. One positive aspect of the company that investors may want to consider is its low price-to-book ratio of 0.46 times. While not a perfect mea-sure, it may represent an undervalua-tion of the stock by the market.

Research in Motion Ltd. (Nasdaq: RIMM)RIM used to be the dominant player in its industry, as the Blackberry essen-tially controlled the business-phone space and was well ahead of the com-petition. At this time, both the Droid and iPhone had yet to be established as market leaders. However, the Black-berry is quickly losing relevance in

Amazon.com, Inc. (Nasdaq: AMZN)Amazon is the world’s largest on-line retailer, a growth story marked by operational and logistical innova-tion. Financially speaking, the com-pany’s management team focuses on long-term, sustainable growth in free-cash-flow per share. It also seeks to efficiently manage shareholder di-lution, in order to issue shares with greater flexibility. The company is a leader across the industry-wide capi-talization, growth and stock yield met-rics. For strategic purposes, Amazon’s business model is built on near-term investments in fulfilment and technol-ogy. Furthermore, its financial risk pro-file will remain minimal over the next few months, as the company maintains modest debt leverage, a strong cash cushion and above-average cash flow protection ratios. The three-month outlook for this stock is very positive.

eBay, Inc. (Nasdaq: EBAY)eBay’s business model redefined the online trading community. It has grown in terms of user and merchandise vol-ume quite substantially over the past few quarters; and following recent ac-quisitions, it has taken over the likes of Bill Me Later (online payments), GSI Commerce (enterprise commerce and marketing solutions), PayPal (online payments), as well as 30% of Skype (internet communications). Apart from the diversification of its activities, eBay will also benefit from the removal of state legislation and the subsequent influx of users in the emerging Chinese

Interoil Corp. (NYSE: IOC)Shares of Interoil Corporation have been increasingly volatile over the past few months. The last month re-corded upward and downward move-ments of more than 10% at times on a daily timeframe; while the yearly range indicates that it has traded as low as $47.29 and as high as $81.98. Multiple moving averages (technical indicators on a daily chart) highlight the shares’ downward momentum, but the area itself is precarious enough for a rever-sal to redraw these lines – particularly the 200-day moving average. Thus, keeping track of Interoil’s activity can be an expensive risk and it is best fol-lowed from the sidelines.

Accuride Corp. (NYSE: ACW)Accuride Corporation’s stock fell by 20.66% in late September, while the past year’s range revealed a low of $6.80 and a high of $16.34. Similar to IOC above, the 50-day and 200-day moving averages of this stock indicate a distinctive downward trend over the past quarter. It is likely the stock will remain in this area for an extended period of time, due to the company’s corrective intervention; however, it could face selling pressure upon a brief move up to $7.00 (its major re-sistance level). With great volatility comes great responsibility.

Benchwarmers

Can you BULL-ieve it?!

Doom and Gloom comparison to these two smartphone types. Moreover, the future looks drea-ry for RIM with earnings and growth shrinking over consecutive quarters. The stock is currently at $20.50, no-where near its $148.13 June 2008 peak. In addition, it has lost two-thirds of its value this year alone. Failed in-novations and a distant management team have derailed RIM’s attempts at resurgence; while its main competitors have long surpassed its scale of opera-tions.

e-retail market. Its stock has also prov-en to consistently outperform others from an industrial standpoint.

30 31

UBC Financial Report UBC Financial Report

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