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Boss Divvies Up $15M to Surprised Employees

Owner of bus company in Australia sells firm, feels generous

(Newser) - The boss of an Australian bus company dished out $15 million in bonuses to his employees. Ken Grenda sold his company and used the proceeds to give an average $8,500 to every one of his 1,800 workers. Grenda, 79, attributed his generosity to the typically enormous gap between... More »

Rolls-Royce Hires in—Get This— High-Wage Countries

Industrial giant ignores wisdom of rivals

(Newser) - The British industrial behemoth Rolls-Royce is increasing its revenue by way of an unorthodox strategy: moving operations into high-wage countries with highly skilled workers. The plan contradicts the wisdom of rivals, who are moving production into low-wage areas in Asia and Latin America, reports the Wall Street Journal . The tactic... More »

Online Apartment-Hunter Finds Pads With Facebook

'ApartmentList' scans your activities to find the right place

(Newser) - Your mind-numbing hunt for an apartment may have gotten a little bit easier. A new apartment-matching engine called ApartmentList personalizes listings by connecting to your Facebook page and scanning your activities and those of your friends, TechCrunch reports. It also asks questions like, "Do you have money in the... More »

Many Succeed in Business School Without Really Trying

Both students, teachers to blame

(Newser) - A senior accounting major at one Virginia university only goes to class to take tests or give presentations. On weeks he doesn't have a test, he may not crack open a textbook. If he has a take-home test, he can usually Google the answers. In a typical day, he says,... More »

10 Industries the US No Longer Rules

We're No. 2! We're No. 2!

(Newser) - When it comes to business, Americans have long been used to being on top—but oh, how the mighty have fallen in some arenas. 24/7 Wall Street breaks down the top 10 industries in which "Made in the USA" doesn't dominate as it once did:
  • Autos—High labor costs
... More »

Latest Korean Crisis: Cheap Fried Chicken

Big supermarket tried to price little guys out of the market

(Newser) - One of South Korea's biggest supermarkets began selling a bucket of fried chicken for about four bucks this week, which wouldn't ordinarily seem like a big deal. But "few food products have left so much turbulence in their greasy wake, or revealed so clearly the insecurities that haunt Asia's... More »

Trader Joe's: The Biggest Small Store

Inside the company that's winning over customers

(Newser) - Green eaters will probably be dismayed to hear that Trader Joe’s, that enclave of cage-free eggs and organic veggies, also sells pita chips…made by FritoLay. But that’s the most damning revelation in Fortune ’s look at the company, which has managed to maintain its “neighborhood... More »

Japan Cultivates 'Rice Farm' Bra

Grow your own

(Newser) - Japan is drawing abreast of cutting-edge green design with a bizarre "rice farm" bra that doubles as a field of dreams. The bra cups (presumably bigger than A's) double as recyclable plastic pots that can be filled with soil and rice seedlings. The wearer waters the crop with a... More »

Hypocrisy Keeps Other Firms From Doing as Google Did

They choose to work in a country that undervalues human rights

(Newser) - Why is Google alone in its stand against China? "Bald hypocrisy," argues Richard Cohen in the Washington Post . America wanted to believe the Internet would change China. Bill Clinton, no fool, once said that China's attempt to censor the Web was as fruitless as nailing Jell-O to the... More »

Business Leaders Find Success as GOP Candidates

Rich ex-execs present Tea Party alternative

(Newser) - Business leaders crossing over to politics are finding success as GOP candidates, using their experience and personal fortunes to challenge established Republicans in Senate and gubernatorial races. In California, Meg Whitman has earmarked $39 million for her campaign for governor. In Michigan, Connecticut, and Massachusetts, former executives are making waves... More »

Asian Billionaires Storm Forbes Richest List

China adds remarkable share of world's newly minted billionaires

(Newser) - Asian magnates are the huge scorers in the annual Forbes list of the world’s billionaires, with 234 making the cut this year, compared to 130 last year. That's 23% of the 1,011 people worldwide on the list, up from 16%. And Asia is minting new billionaires like mad:... More »

When Expanding Abroad, Mind the Gaffe

Businesses warned cultural blunders can be costly

(Newser) - If you're a business owner who thinks smiling will win over Russian clients, you may be in need of one of the growing number of firms offering crash courses in international business etiquette. American firms have been stepping up overseas expansion despite the recession, but misunderstandings—like not realizing the... More »

Rise of the One-Day Biz Trip

Even long-distance travelers avoiding hotel stays

(Newser) - As businesses cut costs, more employees are traveling—even overseas—without staying overnight. “I'm not sure everybody has the stamina to get up at 4 AM for a 6 AM flight and get home at 9," said one traveler—who totaled 100,000 miles last year but only... More »

Best Business Books of '09

Housing bust, social networking among the top subjects

(Newser) - If ever there were a year in which we needed cogent business books, this is it. David Lidsky offers his 2009 favorites at Fast Company. Here's a sampling from the full list :
  • Busted, Edmund Andrews: The author's personal story about getting burned in the housing bust makes abstract problems tangible.
... More »

10 Worst Office Phrases

There's always something better to say than gross, redundant cliches

(Newser) - Frances Cole Jones has had just about enough of certain phrases at the office, he writes for CNN. Some are cliches, some are needlessly gross, and some use just plain bad grammar:
  • "Pick your brain."
  • "Throw it against the wall and see what sticks."
  • "
... More »

Facebook Edges Closer to Going Public

It revamps stock but says it has no IPO plans 'at this time'

(Newser) - Facebook revamped its stock structure today in a move sure to heat up speculation that it's going public. The company will have two classes of shares, A and B, reports the Wall Street Journal . Everyone currently on board will hold B shares, with 10 times the voting power of A... More »

Health Care Reform Foes Outspend Friends 2:1

Biz groups lavish $24M in last month on derailing Dem bill

(AP) - Business foes of health care overhaul legislation are outspending supporters at a rate of 2-to-1 for TV ads as they grow increasingly nervous over a final bill. Led by the US Chamber of Commerce, opponents of the Democratic health care drive have dropped $24 million on TV commercials over the... More »

Some Like it Haute— and Cheap

'Netflix rental scheme' delivers high-fashion frocks

(Newser) - Budget-minded entrepreneurs are utilizing the strategy of Netflix in high fashion. Now working girls can afford some of the priciest haute couture frocks by renting them on the Internet. The new mail-order service, Rent the Runway , allows shop-aholics to rent top designer fashions for a tenth of their retail cost.... More »

Bartering Turns Into $10B Recession-Buster

More businesses signing on to trend of exchanging services

(Newser) - The global recession has made bartering hot, but don’t go thinking it’s all a backrub for a plumbing fix. Big money—though no cash—is changing hands through the world’s largest barter service, Bartercard. The worldwide service’s transactions are valued at $2 billion this year, up... More »

Disney Grumpy About 'Ho White' Ads

Aussie ale company rewrites fairy tale

(Newser) - Once upon a time an Aussie ale company ad turned Snow White into "Ho White," and made Disney officials as angry as wicked witches. The not-so-virginal disheveled beauty blows smoke rings in bed with her little naked buddies including Filthy, Smarmy and Randy in the controversial ad for... More »

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