Portfolio - November 2011

Issue 71
November 2011
Portfolio
emirates.com
Exclusive to Emirates First Class and Business Class
Managing
Assets
Daniel
Truchi
EMPOWERING THE POOR
Indias Ambitious Project
WIN BIG, LOSE BIG
The Fight for Tech Supremacy
BRAZIL BOOM
A New Expat Haven
!Cover November 2011.indd 1 10/25/11 11:45:53 AM
tel: 800 LEXUS (53987) lexus.ae fb.com/lexusae
IF INNOVATION IS A RACE,
THERE IS NO FINISH LINE.
THERES MORE TO LEXUS.
If speed was the only criteria, there would be quite a crowd at the supercar finish line. Weve pushed the boundaries of technology and
engineering in the pursuit of the supreme driving experience and a vehicle worthy of the title supercar. The result is a car that delivers
formidable performance combined with luxurious sophistication. Its no wonder this supercar is years ahead of everyone else.
tel: 800 LEXUS (53987) lexus.ae fb.com/lexusae
IF INNOVATION IS A RACE,
THERE IS NO FINISH LINE.
THERES MORE TO LEXUS.
If speed was the only criteria, there would be quite a crowd at the supercar finish line. Weve pushed the boundaries of technology and
engineering in the pursuit of the supreme driving experience and a vehicle worthy of the title supercar. The result is a car that delivers
formidable performance combined with luxurious sophistication. Its no wonder this supercar is years ahead of everyone else.
CMYK Zenith 412x27D mm CaIitho 1D-11-69182 AOS D174D Stratos FIyback StrikinQ 1Dth MaQazine: PortFoIio (AE) Edition: 31.1D.2D11
EL PR!MERO by Zenith, inventor of the
hiQh-frequency seIf-windinQ chronoQraph
EL PR!MERO STRATOS
FLYBACK STR!K!NG 1D
th
CMYK Zenith 412x27D mm CaIitho 1D-11-69182 AOS D174D Stratos FIyback StrikinQ 1Dth MaQazine: PortFoIio (AE) Edition: 31.1D.2D11
EL PR!MERO by Zenith, inventor of the
hiQh-frequency seIf-windinQ chronoQraph
EL PR!MERO STRATOS
FLYBACK STR!K!NG 1D
th
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BOX SERVICES | 412 WEST 14TH STREET NEW YORK NY 10014 USA | TEL +1-212-965-9555 | PREPRESS@BOXSTUDIOS.COM | WWW.BOXSTUDIOS.COM
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November 2011
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%
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807070100
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Emitates Portfolio
November 2011
NEW YORK
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EAST HAMPTON
23 MAIN STREET
LAS VEGAS
FORUM SHOPS
DEVIKROELL.COM
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Mall of the Emirates, 1st Floor,
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UAE: Abu Dhabi, Al Fardan Jewellery,
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Dubai, Al Fardan Jewels and Precious Stones
Emirates Towers 04 330 3262 - Burj Al Arab 04 348 4816
Saks Burjuman 04 351 1980
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Mall of the Emirates, 1st Floor,
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Tel: 04 222 1222
UAE: Abu Dhabi, Al Fardan Jewellery,
Al Fardan Tower, Tel 02 674 5000
Dubai, Al Fardan Jewels and Precious Stones
Emirates Towers 04 330 3262 - Burj Al Arab 04 348 4816
Saks Burjuman 04 351 1980
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Portfolio
13
Features
40 Brazils Boom Entices Workers
While most of the world appears to be mired in the
economic doldrums, Brazils economy is booming. That
fact is drawing an increasing number of foreign workers
to the country.
46 Win Big or Die Fast
Its a tough market, which is why technology companies are
cutting their losses with increasing speed if a new product
doesnt find instant acclaim.
50 Sharing the Wealth
The 2,000 inhabitants of the Chinese village of Huaxi have
become wealthy through a unique mix of capitalism and
socialism that is being studied across the country.
Cover Story
This issue
November 2011
32 Private Banker
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40
62
56 Linking the Poor to Growth
Work is underway in India to create the worlds largest
biometric database. It is hoped that by giving people
identities that can be instantly verified the countrys poor will
benefit from the rapid economic growth.
62 The Demise of Mass-Market Paperbacks
Hardcovers, trade paperbacks and e-books have all eaten
into the market share of the mass-market paperback that
used to accompany us on our travels.
13-14 Contents.indd 13 10/19/11 4:42:30 PM

16 Notebook
World business in a nutshell.
23 Observer
Spotting and analysing business trends.
30 Column: Scott Barry Kaufman
Does Work Passion Cause Burnout?
Portfolio
14
Departments
Essentials
67 LA Tee Break
Business and leisure visitors to Los Angeles have one
more reason to enjoy their stay here municipal golf
courses! The City of Los Angeles boasts the largest
publically owned golf course system in the US, which
are easily accessible to tourists.
74 Strolling Artists, Bearing iPhones
iPhotography, which uses iPhones and apps to create
unique pictures, is growing rapidly and turning into an
art form.
80 A New Direction
Chef Thierry Marx is always keen to take on new
challenges. At the newly-opened Sur Mesure
restaurant he is aiming to extend the boundaries of
French cooking.
86 Daredevils With Deep Ambitions
We know less about the oceans deep trenches than
we do about the moon. That is set to change as
wealthy entrepreneurs fund new expeditions to plumb
the ocean depths.
90 Urban Evolution
Most evolutionary scientists travel to exotic places
such as the Amazon to do research. But an
increasing number are focusing on cities, with
some startling findings.
94 Five Star Drive
There are a lot of reasons why the long-wheelbase
Mercedes-Benz S500 BlueEfficiency AMG is a
class leader.
96 Other Business
Portfolio takes a light-hearted look at the latest
business news.
Portfolio
Published for Emirates by
PO Box 2331, Dubai, UAE.
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fax:(+971 4) 2824436,
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67
74
86
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herein are correct. In the event of any inaccuracy,
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16
Notebook
BUSINESS NEWS IN BRIEF
Portfolio
HBEBLMA>LBG@E>;B@@>LM
commodiLy LransorLod by soa. Trado wiII
LoLaI abouL 1. biIIion moLric Lonnos Lhis
yoar, comarod wiLh 1.1 biIIion Lonnos
of iron oro and 21 miIIion Lonnos of
coaI. BuL ownors of suorLankors, Iosing
monoy for a sixLh consocuLivo quarLor, wiII
robabIy idIo Lho mosL shis in moro Lhan
Lwo docados as Lhoy conLond wiLh a gIuL
LhaL drovo charLor raLos Lo Lho IowosL in
aL IoasL 14 yoars.
Tho combinaLion of Loo many shis and
sIowing domand growLh for oiI moans
LhaL abouL six or conL of Lho fIooL couId
bo anchorod in a yoar from aImosL nono
Loday, according Lo brokors and anaIysLs.
Tho gIobaI fIooL of vory Iargo crudo
carriors oxandod abouL nino or conL Lo
,u shis in Lho asL Lwo yoars, Lho mosL
sinco 183. Ownors ordorod Lho groaLosL
numbor of now vossoIs sinco Lho 1,us
boLwoon 2uu6 and 2uu8, whon charLor
Oil Tankers Idle
raLos surgod. Thoso Lankors sLarLod
joining Lho fIooL jusL as gIobaI domand for
oiI foII by Lho mosL in 2, yoars duo Lo Lho
gIobaI rocossion.
IronLIino LLd, Lho biggosL ooraLor
of Lho vossoIs, says iL noods $2,8uu a
day Lo broak ovon, buL forward froighL
agroomonLs, Lradod by brokors and usod Lo
boL on LransorL cosLs, anLiciaLo raLos no
highor Lhan $13,81 a day Lhrough 2u13.
WhiIo ownors can cuL ooraLing cosLs Lo
as IiLLIo as $2,uuu a day from $12,uuu by
anchoring shis, iL aIso moans no incomo.
ProsocLs for a surgo in gIobaI oiI
domand LhaL wouId orodo Lho gIuL in
Lankors aro woakoning as growLh sIows.
Tho InLornaLionaI Enorgy Agoncy, Lho
Paris-basod advisor Lo 28 naLions,
roducod iLs forocasL for 2u12 crudo
domand by u.4 or conL Lo u., miIIion
barroIs a day IasL monLh. IL was Lho
biggosL cuL sinco AriI 2uu.
Tho InLornaLionaI MonoLary Iund
Ioworod iLs gIobaI growLh forocasLs Lo
four or conL for Lhis yoar and noxL on
2u SoLombor, from oarIior osLimaLos of
4.3 or conL for 2u11 and 4. or conL in
2u12. ThaL comaros wiLh Lho .2 or conL
conLracLion Lho WorId Bank osLimaLos
Look Iaco in 2uu.
Ownors can sLiII mako monoy by Iocking
Lhoir shis inLo Iongor-Lorm charLors.
RaLos for a Lhroo-yoar accord aro aL
$32, a day and Lhoso fixod for fivo
yoars aL $32,uuu, boLh abovo IronLIino`s
broak-ovon. BuL Lying shis u for LhaL
Iong wouId moan ownors missing ouL on
any raIIy in Lho singIo-voyago markoL.
Tho gIuL oxLonds across mosL of Lho
fIooL. Caosizo vossoIs carrying iron oro aro
oarning 88 or conL Ioss Lhan Lhoy mado in
2uu8, BaILic Exchango daLa show. ConLainor
shis doIivoring goods Lo Euroo from Asia
mado aImosL noLhing in JuIy and AugusL.
16-20 Notebook.indd 16 10/20/11 3:59:36 PM
N u mb e r s G a me
In Figures
The World
$23
billion windfall by way of assets that were unspent by
Colonel Muammar Gaddafis regime came as a surprise
profit to Libyas revolutionary government. The money is extra cash that
had been budgeted for by the Gaddafi regime but never spent. The
fortune will be spent in financing the countrys post-war recovery efforts.
$25
million will be
paid by Reebok
International Ltd to settle
claims made by millions of
dissatisfied customers. The
Federal Trade Commission
has barred the brand from
making claims that its athletic
shoes strengthen calf muscles
or tone the hamstring unless
backed by scientific evidence.
51
on the recent world
golf world ranking
sees former world number
one Tiger Woods drop out of
golfs top 50 for the first time
since October 1996. Woods
has been steadily loosing
ranking points since the 2009
Australian Masters.
80
kilograms of 22 carat
gold, 15 kilograms
of silver and numerous
gemstones adorn the bling
version of Tata Motors Nano
car. The $4.6 million priced
car, a one-off showpiece, is
a tribute to Indias 5,000 year
history in craftsmanship.
was formerly owned by Swiss
tycoons, the Zuellig brothers.
1,99
million-square-
kilometres of the
central Pacific, an ocean area
four times the landmass of
California, has been marked
out to create the worlds largest
shark sanctuary by the Marshall
Islands government. The initiative
is the latest to protect sharks.

$20.8
million worth
of Apple
products were bought by the
US federal government in the
12 months ending September
2011 according to recent data
compiled by Bloomberg. Apple,
based in California, reported
$65.2 billion in revenue for its
2010/11 fiscal year that ended
in September.
200
million was
the price paid
by Qatars Al Faisal Holding, a
company owned by Qatars royal
family, for the W Hotel in Londons
Leicester Square. The recent
purchase brings Al Faisals hotel
portfolio to 11 properties spread
across Qatar, Egypt and London.
$21.6
million, a world
record price for
any item of Ming porcelain, was
reached at a Sothebys Hong
Kong auction. Purchased by an
anonymous telephone bidder, the
blue and white Chinese porcelain
R
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17
Notebook
China PoLrochomicaI Cor,
Lho naLion`s biggosL rofinor
aIso known as Sinooc Grou,
agrood Lo buy DayIighL Enorgy
for C$2.2 biIIion ($2.1 biIIion)
in iLs IargosL acquisiLion Lhis
yoar, gaining Canadian oiI and
shaIo-gas rosorvos.
Tho doaI wiII givo Lho sLaLo-
ownod Boijing-basod comany
accoss Lo moro Lhan 3uu,uuu
acros of Iand in aroas rich wiLh
oiI and naLuraI gas, adding
Lo iLs oxansion ouLsido Asia
afLor faIIing crudo ricos mado
vaIuaLions aLLracLivo. Sinooc
Grou and Cnooc aro among
Chinoso comanios LhaL havo
boughL aImosL $3u biIIion of
Canadian assoLs in Lho asL fivo
yoars Lo mooL onorgy domand
in Lho worId`s fasLosL-growing
major oconomy.
DayIighL`s rovon and
robabIo rosorvos roso 46 or
conL Lo 1,4 miIIion barroIs
of oiI oquivaIonL aL Lho ond
of 2u1u, Lho comany said
on 1 March. DayIighL has
assoLs in 6 oiI and gas fioIds
in NorLhwosL AIborLa and
NorLhoasL BriLish CoIumbia,
wiLh roducLion in Lho firsL
haIf avoraging 38,uuu barroIs
of oiI oquivaIonL.
Tho oiI and gas indusLry
accounLs for Lho socond-
biggosL voIumo of morgors
worIdwido Lhis yoar afLor
LoIocommunicaLions wiLh
$12, biIIion in LransacLions.
DoaIs in Lho Lhird quarLor
amounLod Lo $4, biIIion.
Sinopecs
$2.1 Billion
Deal
16-20 Notebook.indd 17 10/20/11 3:59:39 PM
Carbon Permit Volatility
*
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Notebook
November 2011
Apple has more than $76
billion in cash and marketable
securities on its balance sheet.
Putting this into perspective,
Apple could buy Netflix, ARM
Holdings, Research in Motion
and Nokia at their current
market values and still have
about $15 billion in cash left.
But Apple has never been
into large acquisitions, and
that is unlikely to change after
Steve Jobs death and the
appointment of Tim Cook as
CEO. Still, Wall Street analysts
are stepping up calls for Apple
to use its cash in an investor-
TIME TO PAY A DIVIDEND?
Tho Eurooan sovoroign dobL crisis is aIso having an offocL on
onorgy oIicy. Eurooan uLiIiLios nood Lo sond as much as tuu
biIIion ($1.3 LriIIion) by 2u2u Lo mooL a LargoL of goLLing 2u or conL
of owor from ronowabIo sourcos. Tho robIom is LhaL Eurooan
omissions ormiLs, noodod by oIIuLors from uLiIiLios Lo comonL
makors for oach Lonno of carbon dioxido Lhoy uL in Lho aLmoshoro,
sIumod Lo Lhoir IowosL in 2 yoars in OcLobor.
Tho crux of Lho maLLor is LhaL Iowor carbon ricos discourago
Eurooan uLiIiLios, incIuding major firms such as EON and GDI
Suoz, from invosLing in wind farms and soIar IanLs LhaL don`L
nood carbon ormiLs. As Iong as carbon ormiLs aro Lrading aL
a discounL, Lhoro`s no inconLivo for comanios Lo invosL in groon
LochnoIogy. Tho oconomic sIowdown is adding Lo carbon ormiL
suIy as manufacLurors and gonoraLors soII ormiLs unnoodod
by idIo facLorios and owor IanLs.
Carbon ormiLs for doIivory in Docombor foII Lo .82 ouros
a moLric Lonno, Lho IowosL sinco Iobruary 2uu and a 46 or
conL dro from May`s yoar-Lo-daLo high. ThaL comaros wiLh Lho
t18.u rico fIoor Lho UK has suggosLod is nocossary Lo onsuro
invosLmonL in Iow-carbon gonoraLion.
Tho Eurooan Union ca-and-Lrado sysLom, which uLs IimiLs on
moro Lhan 11,uuu uLiIiLios and manufacLuring comanios across Lho
Union`s 2, mombors, sLarLod in 2uu and is now in a socond haso
LhaL onds in 2u12. In Lho Lhird sLago sLarLing in 2u13, Lho majoriLy of
owor IanLs wiII bo roquirod Lo urchaso aII Lhoir carbon ormiLs.
Tho sysLom is Lho cornorsLono oIicy Lo mooL a binding LargoL
Lo cuL carbon omissions 2u or conL from 1u IovoIs by 2u2u.
Tho Union may sook Lo cuL carbon roIoaso by as much as or
conL by 2uu.
Tho UK is ono counLry LhaL is Iooking aL ways Lo romovo carbon-
rico voIaLiIiLy from invosLmonL docisions. BriLain, which Ians
Lo insLaII moro Lhan 8,uuu offshoro wind Lurbinos by 2u2u, has
roosod a rango of moasuros incIuding a carbon fIoor rico of |16
ounds ($24.u) a Lonno sLarLing in 2u13.
friendly manner meaning a
dividend or a stock buyback
that could reduce share count
and boost earnings per share.
Apple has about 938 million
shares outstanding, according
to its most recent earnings
report. A dividend payout of
one per cent per share would
equal to $4 annually and cost
Apple $3.75 billion.
Apple executives have
long said that the company
is retaining cash to take
advantage of strategic
opportunities. Jobs said a year
ago that Apple was keeping its
powder dry. Not that Apple
shareholders are suffering
without a dividend as the
stocks up more than 20 per
cent this year and nearly 50 per
cent in the past 12 months.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
10
20
30
40
50
60
70
80 billion
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16-20 Notebook.indd 19 10/20/11 3:59:41 PM
Carbon Permit Volatility
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Notebook
November 2011
Apple has more than $76
billion in cash and marketable
securities on its balance sheet.
Putting this into perspective,
Apple could buy Netflix, ARM
Holdings, Research in Motion
and Nokia at their current
market values and still have
about $15 billion in cash left.
But Apple has never been
into large acquisitions, and
that is unlikely to change after
Steve Jobs death and the
appointment of Tim Cook as
CEO. Still, Wall Street analysts
are stepping up calls for Apple
to use its cash in an investor-
TIME TO PAY A DIVIDEND?
Tho Eurooan sovoroign dobL crisis is aIso having an offocL on
onorgy oIicy. Eurooan uLiIiLios nood Lo sond as much as tuu
biIIion ($1.3 LriIIion) by 2u2u Lo mooL a LargoL of goLLing 2u or conL
of owor from ronowabIo sourcos. Tho robIom is LhaL Eurooan
omissions ormiLs, noodod by oIIuLors from uLiIiLios Lo comonL
makors for oach Lonno of carbon dioxido Lhoy uL in Lho aLmoshoro,
sIumod Lo Lhoir IowosL in 2 yoars in OcLobor.
Tho crux of Lho maLLor is LhaL Iowor carbon ricos discourago
Eurooan uLiIiLios, incIuding major firms such as EON and GDI
Suoz, from invosLing in wind farms and soIar IanLs LhaL don`L
nood carbon ormiLs. As Iong as carbon ormiLs aro Lrading aL
a discounL, Lhoro`s no inconLivo for comanios Lo invosL in groon
LochnoIogy. Tho oconomic sIowdown is adding Lo carbon ormiL
suIy as manufacLurors and gonoraLors soII ormiLs unnoodod
by idIo facLorios and owor IanLs.
Carbon ormiLs for doIivory in Docombor foII Lo .82 ouros
a moLric Lonno, Lho IowosL sinco Iobruary 2uu and a 46 or
conL dro from May`s yoar-Lo-daLo high. ThaL comaros wiLh Lho
t18.u rico fIoor Lho UK has suggosLod is nocossary Lo onsuro
invosLmonL in Iow-carbon gonoraLion.
Tho Eurooan Union ca-and-Lrado sysLom, which uLs IimiLs on
moro Lhan 11,uuu uLiIiLios and manufacLuring comanios across Lho
Union`s 2, mombors, sLarLod in 2uu and is now in a socond haso
LhaL onds in 2u12. In Lho Lhird sLago sLarLing in 2u13, Lho majoriLy of
owor IanLs wiII bo roquirod Lo urchaso aII Lhoir carbon ormiLs.
Tho sysLom is Lho cornorsLono oIicy Lo mooL a binding LargoL
Lo cuL carbon omissions 2u or conL from 1u IovoIs by 2u2u.
Tho Union may sook Lo cuL carbon roIoaso by as much as or
conL by 2uu.
Tho UK is ono counLry LhaL is Iooking aL ways Lo romovo carbon-
rico voIaLiIiLy from invosLmonL docisions. BriLain, which Ians
Lo insLaII moro Lhan 8,uuu offshoro wind Lurbinos by 2u2u, has
roosod a rango of moasuros incIuding a carbon fIoor rico of |16
ounds ($24.u) a Lonno sLarLing in 2u13.
friendly manner meaning a
dividend or a stock buyback
that could reduce share count
and boost earnings per share.
Apple has about 938 million
shares outstanding, according
to its most recent earnings
report. A dividend payout of
one per cent per share would
equal to $4 annually and cost
Apple $3.75 billion.
Apple executives have
long said that the company
is retaining cash to take
advantage of strategic
opportunities. Jobs said a year
ago that Apple was keeping its
powder dry. Not that Apple
shareholders are suffering
without a dividend as the
stocks up more than 20 per
cent this year and nearly 50 per
cent in the past 12 months.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
10
20
30
40
50
60
70
80 billion
R
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16-20 Notebook.indd 19 10/20/11 3:59:41 PM
EVENT NAME: DUBAI AIR SHOW
WEBSITE: DUBAIAIRSHOW.AERO
DATE: 13-17 NOVEMBER, 2011 VENUE: AIRPORT EXPO
Now in iLs 22nd yoar, Lho 12Lh odiLion of Lho bionniaI show is goaring u Lo bo Lho
biggosL yoL, wiLh u Lo 1,uuu oxhibiLors from u counLrios and moro Lhan ,uuu
visiLors oxocLod. EsLabIishod as a major ovonL for koy soIIors, buyors and docision
makors Lo accoss Lho MiddIo EasL aorosaco markoL, Lhis yoar`s ovonL is wiLnossing
a 1u or conL growLh in Lho numbor of arLicianLs, oxhibiLors and IocaLion saco.
Now comanios accounL for somo 2u or conL of growLh for Lhis odiLion whiIo roguIar
arLicianLs such as AusLraIia, Iranco, Jordan and Lho USA havo incroasod Lhoir
oxhibiLion aviIion Lo oLimiso Lhoir ovonL rosonco. To caLor Lo Lho incroasod businoss,
Lho AirorL Exo oxhibiLion aroa is boing oxLondod and Lho chaIoL and sLaLic aircrafL
disIay aroa havo boon ro-dosignod Lo accommodaLo moro ouLdoor oxhibiLs.
EVENT NAME: Dubai International Motor Show
WEBSITE: dubaimotorshow.com
DATE: 10-14 November, 2011
VENUE: Dubai International Convention and Exhibition Centre
Irom concoL croaLions Lo LochnoIogicaI innovaLions, Lho fivo-day show soos a
worId cIass IisL of inLornaLionaI auLomoLivo manufacLurors unvoiI Lhoir IaLosL
modoIs. To brands aIroady confirmod incIudo Audi, AsLon MarLin, BonLIoy,
BugaLLi, CadiIIac and Dodgo.
EVENT NAME: The Oil Barons Charity Ball
WEBSITE: theoilbaroncharityball.com
DATE: 18 November, 2011
VENUE: Meydan Racecourse
Now in iLs ninLh yoar, Lhis rod-caroL sociaI ovonL woIcomos Lho cromo do Ia cromo
of Lho onorgy indusLry Lo an ovoning of Iivo onLorLainmonL, crowning Lho yoar`s OiI
Baron, and fund-raising ovonLs aL Lho socLacuIar Moydan Racocourso in Dubai.
EVENT NAME: Private Equity World MENA 2011
WEBSITE: terrapinn.com/2011/private-equity-world-mena
VENUE: Shangri-La Hotel
Loarn firsL hand how Lo maximiso, invosL and caiLaIiso in Lho rivaLo oquiLy markoL
from a Iino u of 6u Ius rivaLo oquiLy oxorLs aL Lho conforonco. Tho ovonL brings
LogoLhor invosLors, SWIs and rivaLo oquiLy funds ovor Lhroo days.
EVENT NAME: The Big 5 (International Building & Construction Show)
WEBSITE: thebig5.ae
VENUE: Dubai International Convention and Exhibition Centre
Ior moro Lhan 3u yoars Lho rogion`s IargosL ovonL for consLrucLion and Lho
buiIding indusLry has sorvod as an oxcoLionaI IaLform for furLhoring businoss
and noLworking. IL`s a uniquo oorLuniLy for Lho inLornaLionaI consLrucLion
indusLry Lo sourco Lho IaLosL in LochnoIogy, innovaLion and sorvicos.
DUBAI
United Arab Emirates
DUBAI
20
Notebook
Portfolio
16-20 Notebook.indd 20 10/20/11 3:59:43 PM
IWC.
Engineered for men.
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Rivoli Prestige: Abu Dhabi Mall Tel: 02 645 6220
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possible. The instruments used by sailors in the tradition of Vasco da Gama
are less intrusive. One of the legends of navigation is the Portuguese
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no ones going to start nagging you. IWC. Engineered for men.
UAE Portfolio POGE IW390206 coop_270x206.indd 1 10/20/11 5:20 PM
November 2011
BMP:LHG<>MA>:F>KB<:GL,
Lhon Lho Jaanoso, Lhon Lho Russians.
Now iL`s Lho Chinoso. In roconL monLhs,
Paris has boon dominaLod by Lho Chinoso,
who havo bogun Lo LravoI abroad in Iargo
numbors, and who como horo Ioss Lo oaL
Lhan Lo sho. According Lo ALouL Iranco,
Lho Ironch Lourism dovoIomonL agoncy,
individuaI visas aro sLiII oxonsivo and
rosLricLod for Chinoso visiLors. So Lhoy
como mosLIy on bus Lours organisod back
homo, usuaIIy for Lris of 1u Lo 1 days
LhaL ofLon sLarL in Gormany, wiLh sLos
in SwiLzorIand, ILaIy or Lho NoLhorIands.
Thoy aImosL aIways ond in Paris, and iL is
in Paris LhaL mosL do Lhoir shoing.
In 2u1u, Chinoso visiLors sonL abouL
$8u miIIion in Iranco, 6u or conL moro
Lhan in 2uu, according Lo ALouL Iranco.
Moro Amoricans Lhan Chinoso como Lo
Paris, of courso, buL Lhoy sond Ioss. An
Amorican`s shoing oxondiLuros run
Lo 4u or conL of a Chinoso visiLor`s. OnIy
Lho Russian LourisL sonds moro Lhan Lho
Chinoso ono, and onIy sIighLIy.
Tho Chinoso como, for Lho mosL arL, Lo
Lho Iargo doarLmonL sLoros, Lho 'grands
magasins` Iiko GaIorios LafayoLLo and Au
PrinLoms, which siL sido by sido on Lho
BouIovard Haussmann, oach wiLh iLs own
gIorious, sLainod-gIass domos, Lwo LomIos
of caiLaIism.
Pang Hao and his wifo, Wang WonLing,
boLh 34, camo from Nanjing on a Lour
wiLh Lhoir young daughLor, on a bus wiLh
3u oLhors. Thoy had aIroady boon Lo ILaIy,
Gormany and AusLria; Paris was Lhoir IasL
sLo. Wo do aII Lho shoing horo,` Wang
said, waiLing in Iino aL Lho ChanoI bouLiquo
aL GaIorios LafayoLLo. Wo`ro going Lo
sond a IoL horo.` Pang said LhaL ho
roforrod Lho ouLIoL sLoros` in Lho UniLod
SLaLos, whoro ovoryLhing is choaor.`
BuL GaIorios LafayoLLo is vory famous in
China,` Wang said.
Tho Chinoso markoL has bocomo vory
imorLanL Lo boLh sLoros. BoLh advorLiso
hoaviIy in China, boLh work assiduousIy
wiLh Lour ooraLors and LravoI agonLs
Lhoro and boLh havo good roIaLions wiLh
Lho Chinoso Embassy and businoss
organisaLions Lo goL Lho VIP shoor as
woII. Thoy havo sLaff mombors who soak
Chinoso, sLoro mas in Chinoso and hoI for
aLrons Lo comIoLo a 'doLaxo` form, which
rofunds mosL of Lho vaIuo-addod Lax. Thoy
Lako Chinoso crodiL cards - Lho CUP card
(China UnionPay) - and rovido immodiaLo
cash rofunds on Lho Lax, so cusLomors can
sond moro on oasiIy LransorLabIo iLoms,
The only tourist who spends more money in Paris than
a Chinese visitor is a Russian one. With Chinese visitor
numbers growing, Paris biggest stores have rolled out the
red carpet, reports Steven Erlanger.
Chinese Flock to Paris Stores
BUSINESS NEWS IN BRIEF
Observer

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Observer Opener.indd 23 10/19/11 5:00:00 PM
Portfolio
Observer
24
Iiko orfumos and waLchos.
PrinLoms has a sociaI onLranco for
Chinoso grous, and iL rovidos a shorL
Chinoso-Ianguago briofing abouL Lho sLoro,
said LauronL SchonLon, Lho dirocLor of
Lho inLornaLionaI cusLomor doarLmonL.
Thoro aro Chinoso-soaking orsonaI
shoors and Chinoso ubIic-addross
announcomonLs. Tho sLoro offors a digiLaI
card, so LhaL a cusLomor - wiLh onIy a
soL amounL of Limo Lo sond boforo Lho
bus Ioavos - doos noL havo Lo waiL aL
oach bouLiquo for urchasos, which aro
coIIocLod for Lhom for a singIo aymonL.
InLornaLionaI cusLomors now rorosonL
somo 4u or conL of PrinLoms saIos,
and abouL ono-Lhird of LhaL businoss is
Chinoso, SchonLon said. Chinoso cusLomors
sond an avorago of $1,66u oach aL
PrinLoms. Wo work Lo goL Lhom Lo sond
horo and noL on Avonuo MonLaigno or
GaIorios LafayoLLo,` ho said.
GaIorios LafayoLLo, which goLs somo
1u miIIion foroign visiLors a yoar, has
boon cuILivaLing Lho Asian markoL for
docados, said Thiorry Vannior, iLs dirocLor
of inLornaLionaI romoLion, Lo onsuro wo
havo Lho righL ooIo, Lho righL sorvicos
and Lho righL morchandiso,` whiIo working
wiLh LravoI agonLs and Lourism grous in
China Lo ush our sLoro as Lho main sLoro
Lo bo soon.`
Wo`ro moro visiLod Lhan Lho EiffoI
Towor,` Vannior said roudIy. GaIorios
LafayoLLo is Ianning Lo oon a sLoro noxL
yoar in Boijing, whoro Lho namo is a brand.
A couIo of young govornmonL
omIoyoos from Shanghai, on Lhoir
honoymoon, waiLod in a Iino Lo onLor Lho
Louis VuiLLon bouLiquo. Paris is a kind of
droam, Lhoy said; Lhoy woro going Lo buy
somoLhing for frionds and coIIoaguos.`
And Lho boss? Thoy Iaughod. And maybo
somoLhing for oursoIvos,` said Lho woman,
who gavo hor namo onIy as Xiao.
Chinoso Lourism in Iranco is rising by
moro Lhan 1 or conL a yoar; according
Lo ALouL Iranco in 2u1u abouL u,uuu
Chinoso visiLod. Tho avorago Chinoso
LourisL is maIo, abouL 4, Iivos in a Iargo
ciLy and visiLs Lho mosL obvious Iacos -
Lho EiffoI Towor, Lho Louvro and, of courso,
Lho shos. Thoy sond abouL $1,8uu
oach on shoing, 6u or conL of Lhoir
LravoI budgoL, according Lo GIobaI BIuo,
an inLornaLionaI comany LhaL handIos
rofunds of Laxos for inLornaLionaI shoors.
BG@>G>K:E, Chinoso Lour grous
sLay in Iargo, choaor hoLoIs ouLsido Paris
and oaL roIannod moaIs in Chinoso
rosLauranLs. BuL Lhoy buy Iuxury brands for
LhomsoIvos and Lhoir frionds - osociaIIy
iLoms LhaL havo Iogos and LhaL Lhoy know
aro noL fakos. In China, such goods can
cosL 2u Lo 3u or conL moro.
Iranco is disLanL buL wo know hor woII,`
said Nong Kang, who works for ALouL
Iranco in China. Our groaLosL wriLors
sonL yoars in Iranco, and ovoryono horo
has road a book of BaIzac or soon a movio
sLarring Ironch acLor AIain DoIon.`
Kang ciLod a woII-known Chinoso
auLhor, Lin YuLang, who wroLo LhaL Iranco
and China undorsLood oach oLhor bocauso
Lhoy sharod Lho samo rocision abouL
Ianguago and gasLronomy. Tho Chinoso
say LhaL Lhoy aIso fooI oIiLicaI affiniLy,
conscious of Iranco`s rovoIuLionary asL,
and LhaL 'Tho InLornaLionaIo` - Lho anLhom
of rovoIuLionary zoaI - is Ironch.
Ior PauI RoII, Lho dirocLor of Lho Paris
Tourism Offico, Lho Chinoso visiLor is
a ocuIiar kind of cusLomor.` Chinoso
LourisLs do a Eurooan Lour, as Lho
Jaanoso did 2 yoars ago, wiLh vory
modosL IocaI inLograLion,` ho said.
Ovor Limo, ho said, LhaL is IikoIy Lo
chango. Wo wanL Lo aLLracL Lhoso who
camo horo onco and wish Lo como back
and LravoI in a moro subLIo way,` ho said.
Jackio Ho camo Lo GaIorios LafayoLLo
from Hong Kong wiLh his famiIy, incIuding
his daughLor Yuki, 14. Tho ricos aro
oxonsivo, buL Lho brands aro boLLor horo,`
ho said. And wo`ro suro of Lho roducLs
horo,` Yuki said. Ho Iaughod. A IoL of
roducLs in Hong Kong aro coiod,` ho
said. Tho Taiwanoso aro good aL making
fako Lhings.` OnIy Lho Taiwanoso? Ho
Iaughod again, a biL ombarrassod. WhaL`s
good is Lo buy a brand horo you cannoL buy
in Hong Kong,` ho said.
The average Chinese visitor to Paris spends around $1,800 on shopping and prefers
luxury brands, especially items with logos.
Observer Opener.indd 24 10/19/11 5:00:02 PM
chaumet . com
Creating watches for 200 years
UK-Emirates 206x270 dandy_UK-Emirates 206x270 dandy 06/10/11 17:25 Page1
O N E 2 WAT C H
The former eBay CEO and one time candidate for California
governor, Meg Whitman, had reason to be happy when she
said: I am honoured and excited to lead HP. I believe HP
matters, it matters to Silicon Valley, California, the country
and the world after her appointment as President and CEO
of Hewlett-Packard an American multinational information
technology corporation headquartered in California.
Hewlett-Packard, commonly referred to as HP, boasted $126
billion in revenue last year while employing more than 324,000
and a global operation that ships the equivalent of two personal
computers every second.
But its not all smooth sailing for Whitman who replaces Leo
Apotheker. Shes taking the reins at an extremely challenging
time when the company is reeling due to plummeting stock
prices that have slipped more than 45 per cent in the past
11 months indicating a huge loss in investors and partners
confidence. Furthermore the future of HPs $40 billion personal
computer business hangs in the balance.
In her first weeks as CEO Whitman, 55, has hit the ground
running by signing off on the closely watched $10.4 billion
acquisition of UK software company Autonomy. This sends the
message that she has strategies in place to re-establish HPs
credibility with investors and analysts. On the niggling questions
whether HP will spin off its personal computer division she
reassured, Well make a decision as fast as we possibly can,
we understand uncertainty doesnt help the business, doesnt
help customers, doesnt help shareholders.
Analysts claim that HP is facing testing times from emerging
trends. With the advent of new technologies the demand for
traditional outsourcing of computer maintenance that is a big
part of HPs $35 billion service business is sharply falling.
TEXT: HILDA DSOUZA
Meg Whitman
In an annuaI roorL on Lho sLaLo of food insocuriLy around Lho
worId, Lho UN`s Lhroo food agoncios warnod LhaL ricos for rico,
whoaL and oLhor koy foods aro oxocLod Lo romain voIaLiIo and
ossibIy incroaso - and oor farmors and consumors arLicuIarIy
in Africa wiII bo hurL mosL.
Tho UN urgod govornmonLs Lo mako good on Iodgos Lo sharo
informaLion abouL farm forocasLs and food sLock IovoIs Lo avoid
Lho rico swings LhaL rosuILod in food rioLs in 2uu6-2uu8 and
an oighL or conL incroaso in Lho numbor of undornourishod
ooIo in Africa. Tho organisaLion aIso urgod groaLor Iong-Lorm
invosLmonL in Lho agricuILuro socLors of oor counLrios so farmors
can boIsLor roducLion Lo mooL incroasing domand and coo
boLLor whon food crisos hiL.
IaiIuro Lo do so, Lho agoncios warnod, wiII rosuIL in conLinuod
rico fIucLuaLions, which makos oor farmors and consumors in
food-imorLing counLrios aL ovor groaLor risk for ovorLy in boLh
Lho shorL and Iong Lorm.
In Juno, Lho worId`s IargosL oconomios agrood Lo osLabIish
a LransaronL sysLom Lo Lrack gIobaI food suIios, soL u
omorgoncy rosorvos and croaLo a raid roacLion mochanism whon
droughL or oLhor caIamiLy hiLs.
A roconL UN sLudy rodicLod LhaL ricos wiII bo 2u or conL
highor for coroaIs and u Lo 3u or conL highor for moaL in Lho
coming docado comarod wiLh Lho asL 1u yoars. WiLh Lho gIobaI
ouIaLion oxocLod Lo incroaso from 6. biIIion Lo nino biIIion
by 2uu, Lho robIom of fooding Lho worId has Lakon on urgoncy
and was uL aL Lho Lo of Lho G-2u agonda Lhis yoar undor Lho
Ironch rosidoncy.
UN Warns On
Food Prices
Portfolio
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BAE11-03-013_JS_Portfolio_206x270_e_ZS.indd 1 29.09.11 17:21
Less than a month after announcing a plan to separate its
DVD-by-mail and internet streaming services, Netflix reversed
course and said it would keep the two services on a single
website. Customers had complained that the plan would
have made it more difficult to watch movies and investors
hated it as well. That means the short-lived Qwikster
has joined the ranks of New Coke when it comes to bad
marketing decisions.
Not that it is Netflixs first misstep this year. The stock
had been on a tear, rising from $110 in July 2010 to more
than $290 on July 12, 2011. But on that same day, Netflix
announced it was raising fees for its DVD business by
as much as 60 per cent. Then came the coup de grace:
Qwikster, the new name for the DVD-by-mail service.
Since the Qwikster affair, Netflix shares have slid 28 per
cent and consumers are bolting in big numbers. Netflix had
24.6 million subscribers at the end of June, but it warned last
month that it expected a net 600,000 to leave by the end of
September because of the price increase.
Odyssoy Marino ExIoraLion, a US-basod doo-soa oxIoror and
saIvago comany, announcod iL had found Lho BriLish sLoamshi
ManLoIa off IroIand. Tho shi was Lorodood in 11,, sonding
Lho vossoI and iLs cargo of an osLimaLod 2u Lonnos of siIvor Lo Lho
soabod moro Lhan a miIo down. AL Loday`s ricos, Lho moLaI wouId
bo worLh abouL $18 miIIion.
In roconL yoars, sLraod govornmonLs havo sLarLod Iooking
Lo IosL cargoos as a way Lo raiso monoy. Tho IaLosL gonoraLion of
roboLs, IighLs, camoras and cIaws can wiLhsLand Lho doo soa`s
crushing rossuros and havo oonod u a now worId of shiwrock
rocovory. In such arrangomonLs, rivaLo comanios uL Lhoir own
monoy aL risk in cosLIy oxodiLions and sIiL any rofiLs. In Lhis
caso, Odyssoy is Lo goL 8u or conL of Lho siIvor`s vaIuo and Lho
BriLish govornmonL 2u or conL.
In SoLombor, Odyssoy announcod iLs discovory of Lho BriLish
sLoamshi Gairsoa off IroIand and osLimaLod iLs cargo aL u Lo
24u Lonnos of siIvor - a Lrovo worLh moro Lhan $2uu miIIion. Tho
Gairsoa was Lorodood in 141.
About Face
Sunken Treasure Found
Africas Best Governments
Tho 2u11 Ibrahim Indox has
jusL boon roIoasod wiLh IiLLIo
ovoraII chango in Lho Lo 1u.
Tho Ibrahim Indox moasuros
African govornanco across 86
indicaLors grouod inLo
14 sub-caLogorios and four
ovorarching caLogorios Lo
moasuro Lho offocLivo doIivory
of ubIic goods and sorvicos Lo
African ciLizons.
MauriLius, Cao Vordo,
BoLswana and SoychoIIos Look
Lho firsL four Iacos ouL of 3,
whiIo SouLh Africa ranks fifLh
ovoraII. Rounding ouL Lho Lo
1u was Namibia in sixLh Iaco,
foIIowod by Ghana, LosoLho,
Tunisia and EgyL.
AL Lho boLLom of Lho IisL was
Zimbabwo in 1sL Iaco,
wiLh onIy Chad and SomaIia
orforming worso.
OvoraII, 2, African counLrios
imrovod in Lho sLandings
wiLh Liboria and Siorra Loono
showing Lho mosL imrovomonL
ovor Lho asL fivo yoars, whiIo
Madagascar showod Lho biggosL
docIino. Tho ConLraI African
RoubIic, EgyL and Siorra
Loono showod Lho biggosL
imrovomonL in susLainabIo
oconomic oorLuniLy.
Portfolio
Observer
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Magnifique French Inspired Design
From Paris to Dubai , from London to New York,
from Muni ch to Beijing
Li ve a magnifique life around the world.
www. sofi tel. com
DUBAI MUNI CH BEI JI NG PARI S
AP_Sof157_PP206x270_portfolio_41152.indd 1 12/04/11 15:28
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Does Work Passion Cause Burnout?
SCOTT BARRY KAUFMAN
>O>KR<HFI:GRP:GMLPHKD>KL
who assionaLoIy Iovo Lhoir work. Insirod
workors aro moro roducLivo, and assion
can rovido Lho onorgy nocossary Lo
succood amidsL obsLacIos and soLbacks.
BuL whiIo assion sooms cIoarIy dosirabIo,
roconL sychoIogicaI rosoarch suggosLs LhaL
somo forms can bo downrighL doLrimonLaI.
According Lo RoborL VaIIorand`s
DuaIisLic ModoI of Passion, iL has Lwo main
fIavours: harmonious and obsossivo. Thoso
wiLh harmonious assion ongago in Lhoir
work bocauso iL brings Lhom inLrinsic joy.
Thoy havo a sonso of conLroI of Lhoir work,
and Lhoir work is in harmony wiLh Lhoir
oLhor acLiviLios in Iifo. AL Lho samo Limo,
Lhoy know whon Lo disongago, and aro
boLLor aL Lurning off Lho work swiLch whon
Lhoy wish Lo onjoy oLhor acLiviLios or whon
furLhor ongagomonL bocomos Loo risky. As
a rosuIL, Lhoir work doosn`L confIicL wiLh Lho
oLhor aroas of Lhoir Iivos.
Obsossivo assion is a difforonL sLory.
Liko Lhoso wiLh harmonious assion,
Lhoso wiLh obsossivo assion orcoivo Lhoir
work as rorosonLing a assion for Lhom,
and viow Lhoir work as highIy vaIuod.
A major difforonco is LhaL Lhoy havo an
unconLroIIabIo urgo Lo ongago in Lhoir
work. As a rosuIL, Lhoy roorL fooIing moro
confIicL boLwoon Lhoir assion and Lho
oLhor acLiviLios in Lhoir Iifo.
BoLh forms of assion aro associaLod
wiLh vory difforonL ouLcomos. Harmonious
assion is associaLod wiLh highor IovoIs of
hysicaI hoaILh, sychoIogicaI woII-boing,
soIf-osLoom, osiLivo omoLions, croaLiviLy,
conconLraLion, fIow, work saLisfacLion and
incroasod congruonco wiLh oLhor aroas of
ono`s Iifo. Thoso offocLs siII ovor inLo oLhor
aroas. Bocauso ooIo wiLh harmonious
assion can acLivoIy disongago from
work and oxorionco oLhor arLs of Lhoir
Iivos, Lhoy roorL gonoraI osiLivo affocL
ovor Limo.
BG<HGMK:LM, Lhoso wiLh obsossivo
assion disIay highor IovoIs of nogaLivo
affocL ovor Limo and moro maIadaLivo
bohaviours. Thoy roorL highor IovoIs of
nogaLivo affocL during and afLor work;
Lhoy can hardIy ovor sLo Lhinking abouL
Lhoir work, and Lhoy goL quiLo frusLraLod
whon Lhoy aro rovonLod from working.
Thoy aIso orsisL whon iL`s risky Lo do so.
A roason for Lhis is LhaL Lhoir work forms
a vory Iargo arL of Lhoir soIf-concoL. To
roLocL Lhoir soIvos, Lhoy disIay moro soIf-
roLocLivo bohaviours, such as aggrossion,
osociaIIy whon Lhoir idonLiLy is LhroaLonod.
Thoso wiLh obsossivo assion aIso havo a
moro nogaLivo imago of LhomsoIvos, boing
quickor Lo air Lho word 'unIoasanL` wiLh
'soIf ` Lhan Lhoso showing Iowor IovoIs of
obsossivo assion. This suggosLs LhaL Lhoir
orsisLonco doosn`L como from a Iaco of
inLrinsic joy, buL an unsLabIo ogo.
Thoso difforoncos havo imIicaLions for
work burnouL. A roconL sLudy invosLigaLod
burnouL (moasurod by omoLionaI
oxhausLion) in Lwo samIos of nursos ovor
a six-monLh oriod. Obsossivo assion
incroasod Lho chancos of burnouL whiIo
harmonious assion hoIod roLocL
againsL iL. Tho rosoarchors idonLifiod somo
koy facLors oxIaining Lhis roIaLionshi.
Obsossivo assion was associaLod wiLh
highor confIicL wiLh oLhor Iifo Lasks and
was unroIaLod Lo work saLisfacLion, whiIo
harmonious assion was associaLod
wiLh Iowor confIicL, and highor work
saLisfacLion. ImorLanLIy, Lhoso offocLs
hoId ovon afLor comaring Lho numbor of
hours workod. PooIo wiLh harmonious
assion como Lo work rofroshod and roady
Lo LackIo now robIoms, whoroas Lhoso wiLh
obsossivo assion aro aL much highor risk
of oxorioncing burnouL.
BuL isn`L orsisLonco a good Lhing?
Many groaL works aoar Lo havo como
abouL duo Lo an obsossivo focus on work
Lo Lho oxcIusion of aII oIso, buL rosoarch
suggosLs Lhis may bo a myLh. IL`s imorLanL
Lo disLinguish boLwoon fIoxibIo and rigid
forms of orsisLonco. Thoso wiLh obsossivo
assion rigidIy orsisL ovon whon iL`s
no Iongor sonsibIo Lo do so. Thoso wiLh
harmonious assion aro much moro
fIoxibIo, and aro uILimaLoIy moro succossfuI.
This may oxIain why so many chiId
rodigios fizzIo ouL IaLor in Iifo.
So Lho Lyo of assion ono has maLLors.
NoL jusL for work, buL for many oLhor
aroas of Iifo. Managors nood Lo ask: whaL
kind of assion aro you goLLing ouL of your
workors? Don`L bo fooIod by hard workors.
Somo may bo on Lho vorgo of burnouL.
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November 2011
Private
Banker
Societe Generale is the second largest French
bank after BNP Paribas and one of the oldest
as it was founded in 1864. By comparison its
wealth management arm is fairly young as it was
established in 1997. Daniel Truchi, who is now the
global CEO of Societe Generale Private Banking,
has been there every step of the way as he joined
the banking group in 1996 to create the private
banking division in Asia, reports Guido Duken.
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IirsLIy, if you aro going Lo onLrusL
somobody wiLh your monoy you wanL
oxorionco. Truchi has LhaL covorod wiLh
moro Lhan 3u yoars oxorionco in Lho
banking indusLry in Euroo and Asia
aL sonior IovoIs and in difforonL aroas
incIuding cororaLo and invosLmonL
banking, Lrado financo and rivaLo
banking. Ho`s aIso a man of Lho worId
wiLh 2u yoars oxorionco in Asia and has
Iivod in Lho PhiIiinos, Paris and Hong
Kong Lo namo a fow. NaLuraIIy, if you
onLrusL somobody wiLh your monoy ho
musL insiro confidonco. Truchi`s sofL-
sokon mannor, onLhusiasm, knowIodgo
and daor suiL immodiaLoIy uLs ono aL
oaso. Ho aIso oxhibiLs Lho odd wry grin
and has a hoarLy Iaugh LhaL musL go
My experience of private banking is rather limited as in no way
can I lay claim to being a high-net-worth individual (HNWI)
with financial assets in excess of one million euros, let alone
an ultra-high-net-worth individual (UHNW). But if I were in the
market for a private banker, Daniel Truchi would definitely tick
the right boxes.
Societe Generale has 157,000
employees based in 85 countries
and more than 33 million clients
throughout the world on a daily basis.
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down woII aL sociaI ovonLs.
NoL LhaL iL has aIways boon Iain saiIing
for Truchi. Ho joinod SocioLo GonoraIo
in Lho midsL of Lho financiaI crisis in Asia
and bocamo hoad of aII Lho Ironch grou`s
rivaLo banking ooraLions in 2uu,, jusL in
Limo Lo doaI wiLh Lho gIobaI financiaI crisis.
I monLion Lhis facL Lo him and ask if ho`s
goLLing anoLhor romoLion soon. Ho Iooks
sIighLIy uzzIod aL Lhis quosLion and wanLs
Lo know why. WoII, I LoII him, Lho curronL
oconomic indicaLors aro anyLhing buL rosy
and Lhoro`s LaIk of a doubIo di rocossion. In
oLhor words, ovory Limo ho goLs a romoLion
Lho worId is in LurmoiI. Truchi Iooks aL mo,
bursLs ouL Iaughing and jusL managos Lo
squoozo ouL No, I`m noL awaro of LhaL.`
Joking asido, Truchi`s Lrack rocord
rovos LhaL ho is good aL woaLhoring
financiaI crisos. Ho convincod norvous
Asian invosLors Lo do businoss wiLh Lho
Iargo Ironch bank in Lho IaLo us and has
managod Lo sLoor Lho uniL Lhrough Lough
Limos wiLh incroasing noL infIows and noL
incomo. How doos ho woaLhor such sLorms?
WhaL I Ioarnod from Lho Asian crisis is LhaL
you havo Lo bo oxLromoIy LransaronL and
informaLivo Lo your cIionLs,` says Truchi.
You havo Lo roLocL Lhom from any advorso
offocLs. And Lho roason why wo succossfuIIy
managod Lho crisis in Asia-Pacific is LhaL by
Lhon wo had soL u a roLocLivo soL of assoL
cIassos for our cIionLs.`
So roLocLing cIionLs from advorso
oconomic condiLions is koy? Yos,` says
Truchi, ProLocLion, Lransaroncy and Lho
November 2011
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SocioLo GonoraIo`s rivaLo banking is LruIy
inLornaLionaI wiLh 8 Lo 8, or conL of
Lhoir cIionLs ouLsido Iranco. Tho MiddIo
EasL cusLomor baso makos u sIighLIy Ioss
Lhan 1u or conL. CIionL grous such as
Arab cusLomors, Non-RosidonL Indians,
SouLh Amoricans, Ironch naLionaIs and
Russians oach havo Lhoir own gIobaI
markoL managor. SocioLo GonoraIo PrivaLo
Banking has aIso dovoIood a numbor
of conLros of oxorLiso, osociaIIy on
sLrucLurod roducLs, funds and roorLy,
and Lhoso rovido informaLion Lo Lho
noLwork aII ovor Lho worId. So, in shorL,
SocioLo GonoraIo PrivaLo Banking givos
iLs cIionLs comIoLo gIobaI oxosuro
and oxorLiso. Thoso Lwo iLoms, gIobaI
markoL managomonL as woII as conLros
of oxorLiso, havo boon roaI drivors for
growLh in Lho asL yoar,` says Truchi.
MA>FB==E>>:LM is an imorLanL
rogion for SocioLo GonoraIo PrivaLo
Banking and Lho woaILh managomonL arm
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informaLion fIow Lo cIionLs aro conLraI.
Tho moro conLacL and roIaLions you havo
wiLh Lhom, noL onIy on financiaI assoLs
buL aIso in Lorms of Lhoir famiIy noods, is
highIy imorLanL in Lho Iong and modium
Lorm Lo roLocL Lho cIionL.`
Tho worId`s a cuILuraIIy divorso Iaco and
I ask Truchi if LhaL has any boaring on how
SocioLo GonoraIo`s various rivaLo banking
uniLs do businoss. Ho Lhinks abouL LhaL
and roIios in Lho affirmaLivo buL wiLh a
cachoL. Wo havo Lo adaL oursoIvos Lo oach
Lyo of cIionL,` oxIains Truchi. I Lhink
LhaL is a uniquo foaLuro of rivaLo banking.
Wo vory ofLon go boyond uro financiaI
advico in Lho sonso LhaL wo ofLon sLrucLuro
famiIy succossion Ianning, Lax advico and
financiaI onginooring. You nood Lo know
your cIionL vory woII Lo do LhaL.`
So ovory cIionL has uniquo noods?
Yos,` says Truchi. If you don`L havo a fuII
undorsLanding of Lho cIionL you cannoL
adaL yoursoIf Lo Lhoir noods. And LhaL
is whaL wo aro horo Lo do. Wo sorvico
Lho cIionL`s noods and noL Lho oLhor way
round. Wo havo no roducL LhaL fiLs
ovorybody. CIionLs havo across Lho board
roquiromonLs LhaL can bo oquiLy roIaLod,
bonds, commodiLios or roorLy financing.
Wo rovido our oxorLiso on a caso-Lo-caso
basis. Wo havo Lo rovido for Lho cIionL
and LhaL aIways Ioads Lo uniquo soIuLions.`
AL Lhis oinL iL`s fiLLing Lo Iook aL SocioLo
GonoraIo PrivaLo Banking in moro doLaiI.
Tho woaILh managomonL arm has 2,8uu
sLaff in 1 counLrios around Lho worId
and had t86.1 biIIion of assoLs undor
managomonL aL Lho ond of Juno 2u11.
Truchi is aL groaL ains Lo oinL ouL LhaL
TRUCHI IS AT GREAT PAINS TO POINT OUT THAT
SOCIETE GENERALES PRIVATE BANKING IS TRULY
INTERNATIONAL WITH 85 TO 87 PER CENT OF THEIR
CLIENTS OUTSIDE FRANCE.
Daniel Truchi believes diversification into new markets is one of the key growth areas
for Societe Generale Private Banking. One market the wealth management arm is
looking at is China.
CMYK
going Lhrough Lo yachL, joL and roorLy
financing. So iL is a roLLy Iargo aroach
LhaL wo offor our cIionLs and mosL of our
MiddIo EasLorn cIionLs havo a sLrong
inLorosL in divorsificaLion. Wo can rovido
LhaL Lo Lhom in Lho Amoricas, Euroo,
Asia, as woII as EasLorn Euroo.`
Tho worId`s markoLs havo boon in
LurmoiI IaLoIy Lhanks Lo Lho Eurooan
dobL crisis and Iingoring unomIoymonL in
Lho US. Has LhaL affocLod invosLors? Wo
aro sooing a moro consorvaLivo aroach
from cIionLs,` roIios Truchi. Ho says Lhis
consorvaLivo aroach is rofIocLod by a
movo Lo socurod invosLmonL, Ioss oquiLy,
and moro cororaLo bonds and cash.
InvosLmonL in roorLy is aIso on Lho riso.
PA>GB ask him if MiddIo EasLorn
cIionLs havo a difforonL aroach Lo Lho
bank`s oLhor cIionLs, Truchi rofors mo Lo
Eddy Abramo, who is Lho CEO of SocioLo
GonoraIo PrivaLo Banking MiddIo EasL.
I Lhink our MiddIo EasLorn cIionLs aro
moro invosLod in omorging markoLs Lhan
Eurooan markoLs,` says Abramo. So
ovon if iL is a crisis Limo Lhoy aro Ioss
imacLod in Lhoir orLfoIio. Thoy aro
aIso roaIIy inLorosLod in oorLuniLios
and during crisis Limo Lhoro aro aIways
somo oorLuniLios. Wo havo a IoL of IocaI
businossmon as cIionLs buL Lhoy havo gIobaI
oxosuro, osociaIIy in Euroo. London
and Lho souLh of Iranco foaLuro in Lorms
of roaI osLaLo and invosLmonL, and ovon if
Lhoy aro Ioss focusod on Euroo Lhoy aro
oonod iLs offico in Dubai in 1, and has
anoLhor in Abu Dhabi. Tho MiddIo EasL
is naLuraIIy a sLraLogic Iaco for us duo
Lo Lho croaLion of woaILh, dovoIomonL
and invosLmonL LhaL aIso fIows Lo various
arLs of Lho worId,` says Truchi. Wo
dofiniLoIy havo an odgo comarod Lo mosL
The three Societe Generale towers in La Dfense near Paris are a local landmark.
Societe Generale is the third largest corporate and investment bank in the Eurozone
by net banking income and the sixth largest French company by market capitalisation.
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of our comoLiLors sinco wo aro a Lruo
inLornaLionaI bank and Lhis is rofIocLod
in whaL wo can rovido Lo our cIionLs.
NoL onIy financiaI advico buL aIso woaILh
onginooring, financiaI onginooring, LrusL
sorvicos and whaLovor noods Lhoy havo
sLarLing from financiaI assoLs buL aIso
36
Portfolio
IF YOU TAKE INTO
CONSIDERATION THE
GROWTH OF OUR
ASSET BASE, THE ONE
PARAMETER THAT IS VERY
IMPORTANT FOR PRIVATE
BANKING IS THE NET
NEWLY MANAGED ASSETS,
WHICH MEANS THE NET
FLOW INTO OUR BOOKS.
LONDON LAS VEGAS DUBAI MOSCOW
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inLorosLod in oquiLy, sLakos in comanios or
hoLoIs and commorciaI roaI osLaLo.`
In 2u1u, SocioLo GonoraIo PrivaLo
Banking announcod AmbiLion 2u1 - a
Lwo-sLago growLh surL aimod aL aImosL
doubIing assoLs undor managomonL in Lho
noxL fivo yoars Lo $1u biIIion. DoubIing
Lho rivaLo bank assoLs by aImosL t,u
biIIion ($,. biIIion) in fivo yoars is
dofiniLoIy ambiLious buL Truchi sooms
unLroubIod. If you Lako inLo considoraLion
Lho growLh of our assoL baso, Lho ono
aramoLor LhaL is vory imorLanL for
rivaLo banking is Lho noL nowIy managod
assoLs, which moans Lho noL fIow inLo our
books,` says Truchi. Irom LhaL rosocL Lho
firsL haIf of Lho yoar was roLLy amazing
as wo roachod nino or conL of our nowIy
managod assoLs undor managomonL,
which if you comaro Lo our comoLiLors
is ono of Lho highosL, if noL Lho highosL.
Tho avorago markoL is cIosor Lo six or
conL. IL shows Lho vibrancy of our rivaLo
banking worIdwido and I don`L soo any
roason why Lhis shouId bo jooardisod in
Lho socond haIf of Lho yoar.`
:GHMA>KHIIHKMNGBMR for growLh
LhaL Truchi sLrossos is divorsifying inLo
now markoLs. Our main forco in rivaLo
banking and in Lho bank is divorsificaLion
of Lho cIionL baso,` ho says. DivorsificaLion
is ossonLiaI in aII woaILh growLh ooraLions,
rogardIoss of whoLhor iL is SouLh Amorica,
Asia or WosLorn Euroo. China is naLuraIIy
a vory sLrong aroa for woaILh growLh and
LhaL`s Lho roason why wo havo invosLod
Lhoro. Tho bank has a fuII Iiconso in China,
wo aro dovoIoing Lho roLaiI noLwork Lhoro
and rivaLo banking comIimonLs Lhis
dovoIomonL of roLaiI banking. So China
is robabIy ono of Lho noxL movos in Lorms
of growLh buL for Lho Limo boing wo havo
Lo Ioarn somo moro abouL Lhis markoL and
dovoIo Lho cIionL baso.`
BuL, as far as Truchi is concornod, Lho
mosL imorLanL asocL of SocioLo GonoraIo
PrivaLo Banking romains iLs abiIiLy Lo givo
cIionLs Lho divorsiLy, sorvico and soIuLions
Lhoy roquiro.
Truchi is looking at
possible acquisitions
to accelerate Societe
Generales Private
Banking growth. The
private bank aims to
have $150 billion under
management by 2015.
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ENTICES WORKERS
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slorms Iashing Euroe and lhe
US, Selh ZaIkin, a casuaIIy dressed
American banker, sied a demilasse
and seemed conlenl wilh his decision lo
move lo Rio de Janeiro in March wilh his
wife and son. If lhe resl of lhe worId is
cralering, lhis is a good Iace lo be, said
ZaIkin, 3.
Ior lhose wilh even lhe dimmesl
memories of BraziI`s own debl crisis in
lhe 18us, lhe gIobaI order has been
lurned on ils head. The US economy may
be crawIing aIong, bul BraziI`s grew al
ils faslesl cIi in more lhan lwo decades
Iasl year and unemIoymenl is al hisloric
Iows, arl of lhe nalion`s lransformalion
from infIalionary baskel case inlo one of
Washinglon`s lo credilors.
Wilh comensalion rivaIIing lhal on
WaII Slreel, so many foreign bankers,
hedge fund managers, oiI execulives,
Iawyers and engineers have moved
here lhal rices for rime office sace
surassed lhose in New York lhis year,
making Rio lhe coslIiesl cily in lhe
Americas lo Iease il, according lo lhe reaI
eslale comany Cushman & WakefieId. A
goId rush mind-sel is in fuII swing, wilh
foreign work ermils surging 144 er

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cenl in lhe asl five years and Americans
Ieading lhe ack of educaled rofessionaIs
ulling down slakes.
Businessmen have Iong been drawn
lo BraziI, aIong wilh gel-rich-quick
confidence men, dreamers of Amazonian
grandeur and even oulIaws Iike RonaId
Biggs, lhe Brilon who absconded lhere
afler his 163 Greal Train Robbery. Bul
now schooIs calering lo American and
olher EngIish-seaking famiIies have Iong
wailing Iisls, aarlmenls can cosl $1u,uuu
a monlh in coveled arls of Rio and many
of lhe newcomers hoId Ivy League degrees
or job exerience al lhe iIIars of lhe
gIobaI economy.
Once in BraziI, lhey find a counlry
facing a very differenl chaIIenge lhan
do lhe US and Euroe. fears lhal lhe
economy is gelling loo hol. One arlicuIar
shock for newcomers is lhe slrenglh of
BraziI`s currency, lhe reaI. Thal may heI
BraziIians snaing u aarlmenls in
Iaces Iike Soulh Beach in Miami, where
roerlies cosl aboul a lhird of lheir
equivaIenls in Rio`s excIusive dislricls. Bul
il aIso hurls lhe counlry`s manufaclurers
and exorlers. So in a bid lo revenl il
from going even higher, BraziI is now
one of lhe biggesl buyers of US Treasury
securilies, becoming a Iarger slakehoIder
in lhe aiIing US economy. Thal is a shar
break from lhe asl, when Washinglon
heIed cobbIe logelher baiIoul ackages
for BraziI`s financiaI crises.
BraziI is doing greal, bul honeslIy,
every olher week I ask myseIf, 'When is
lhis going lo end?` said Mark Bures, 42,
an American execulive who moved here
in 1, jusl in lime lo see an abrul
devaIualion of lhe currency and olher
shar swings in BraziI`s forlunes.
A few veleran exalriales even
remember BraziI`s Iasl economic 'miracIe`
in lhe earIy 1,us, when Ma^PZeeLmk^^m
ChnkgZe quoled an ebuIIienl banker al lhe
slarl of a fronl-age arlicIe who redicled,
In 1u years, BraziI wiII be one of lhe five
greal owers of lhe worId. Inslead, lhe
counlry ended u wilh daunling IeveIs of
foreign debl.
The recenl commodilies boom and
growlh in domeslic consumlion, lhe
resuIl of an exanding middIe cIass,
heIed lurn BraziI inlo a rising ower
lhal bounced back handiIy from lhe 2uu8
gIobaI financiaI crisis. The economy grew
,. er cenl Iasl year and is execled lo
regisler aboul four er cenl growlh lhis
year - sIower, bul sliII enviabIe.
While most of the world appears to be mired in the economic doldrums, Brazils
economy is booming. That fact is drawing an increasing number of foreign
workers to the country, reports Simon Romero.
40-44 Brazil Employment.indd 40 10/19/11 3:37:59 PM
November 2011
CMYK
41
Brazils economy
grew at its fastest
clip in more than two
decades last year
and unemployment is
at record lows.
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CMYK
A street scene at Ipanema Beach in Rio de Janeiro.
Cynthia Yuanxiu Zhang, a Chinese
manager at a technology company who
moved to Brazil from Beijing, at the Hotel
Fasano in Rio de Janeiro.
soccor`s WorId Cu in 2u14 and Lho
OIymic Gamos in 2u16 aroach,
buL iLs infrasLrucLuro is inadoquaLo.
SLiII, foroignors aro arriving, and work
auLhorisaLions for Lhom jumod moro
Lhan 3u or conL in 2u1u aIono, according
Lo Lho Labour MinisLry.
I had vory basic PorLuguoso, buL I couId
LoII Lhis Iaco was booming,` said MichoIIo
Noyos, 2, a Now Yorkor who organisod
a hodgo fund conforonco in So PauIo.
ShorLIy afLor, sho mado Lho Ioa Lo BraziI
for a job aL a So PauIo assoL managomonL
firm. I movod from Lho orihory of Lho
indusLry Lo Lho conLro,` said Noyos, ciLing
fivo oLhor Amoricans, Lwo from Now York
and Lhroo from Chicago, who movod Lo
BraziI in AugusL Lo Lry Lhoir Iuck.
Amoricans form Lho IargosL grou
moving horo, foIIowod by conLingonLs of
Rios real estate
has been bustling
as soccers World
Cup in 2014 and the
Olympic Games in
2016 approach, but
its infrastructure is
inadequate.
42
YoL BraziI offors many chaIIongos Lo
givo nowcomors auso. Labour IogisIaLion
favours hiring BraziIians ovor foroignors,
and Lho IongLhy rocoss of obLaining a
work visa can surriso Lhoso unaccusLomod
Lo BraziI`s garganLuan buroaucracy.
LHF>><HGHFBLML considor Lho
BraziIian roaI Lho worId`s mosL ovorvaIuod
curroncy againsL Lho doIIar and infIaLion
has cIimbod (as ovidoncod by $6.16 Big
Macs and $3 marLinis). InLorosL raLos
romain sLubbornIy high and anaIysLs
dobaLo whoLhor a crodiL bubbIo is forming
as consumors conLinuo a muILiyoar sroo
on ovoryLhing from homos Lo cars.
BraziI is hardIy immuno Lo Lho
LurbuIonco in gIobaI markoLs, and iLs
curroncy had woakonod a biL in AugusL.
Rio`s roaI osLaLo has boon busLIing as
BriLons and oLhor Eurooans. Somo aro
on Lomorary assignmonLs. OLhors aro
sLarLing vonLuros big and smaII.
David NooIoman, Lho Amorican foundor
of JoLBIuo Airways, roconLIy croaLod AzuI,
a Iow-cosL BraziIian airIino. Corrado
VaroIi, an ILaIian who ovorsaw GoIdman
Sachs` LaLin Amorican ooraLions from
Now York, now runs his own So PauIo
bouLiquo invosLmonL bank. Now BraziIian
doL-coms Iiko Baby.com.br, an onIino
diaor roLaiIor foundod Lhis yoar by Lwo
Michelle Noyes, a New
Yorker who moved to
Brazil for a job at an
asset management
firm, in So Paulo.
Portfolio
CMYK
44
E
m
p
l
o
y
m
e
n
t
incIuding Lhousands of IiIiinos working
on shis and offshoro oiI IaLforms. Ior
iLs oLhor indusLrios, BraziI noods an
osLimaLod 6u,uuu now onginoors, somo of
whom musL como from abroad.
I movod from Boijing a yoar ago
and find Lho oLonLiaI for rofossionaI
dovoIomonL incrodibIo,` said CynLhia
Yuanxiu Zhang, 2,, a Chinoso managor
aL a LochnoIogy comany. I`m aIroady
Ianning Lo oxLond my Limo horo woII
inLo Lhis docado.`
Amorican cousins frosh ouL of businoss
schooIs Iiko WharLon and Harvard,
somoLimos givo BraziI a bubbIy fooI noL
unIiko LhaL of Lho US in 1.
OLhor foroignors Lako jobs aL BraziIian
comanios Lhriving from a boom arLIy
croaLod by BraziI`s Lrado wiLh China. Our
saIarios horo in BraziI aro aL IoasL u or
conL moro Lhan saIarios in Lho US for
sLraLogic osiLions,` said Jacquos SarfaLLi,
counLry managor for RussoII RoynoIds, a
comany LhaL rocruiLs businoss oxocuLivos.
Ioroignors comoLo wiLh BraziIians
roLurning homo from abroad. IL`s roaIIy
obvious LhaL Lho Iabour markoL is so bad
oIsowhoro,` said Dara Chaman, 4, a
CaIifornian who is a arLnor in a Rio
hodgo fund, PoIo CaiLaI. Sho said sho was
rocoiving so many rosumos from wouId-bo
LransIanLs from Lho US LhaL Lhoy woro a
dimo a dozon.`
;K:SBELAN@> doo-soa oiI discovorios
havo aIso drawn invosLors and foroignors,
Real estate in Rios exclusive
suburbs now costs three
times more than on Miamis
South Beach.
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CMYK
Technology companies
are cutting their losses
with increasing speed if
a new product doesnt
find instant acclaim,
report Jenna Wortham
and Verne Kopytoff.
46
WIN BIG
OR
DIE FAST
46-48 Tech cost cuttings.indd 46 10/19/11 3:39:23 PM
November 2011
CMYK
47
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IC
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Top: Flip-Live was killed off by Cisco, its parent company, a day before its launch.
Above: Google Wave survived a mere 77 days before the plug was pulled.
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Portfolio
CMYK
48
T
e
c
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n
o
l
o
g
y
aILhough iL can bo ombarrassing.
Tho Iifo cycIos aro vory shorL
bocauso Lhoro is obviousIy
hugo comoLiLion,`
McGrogor said. Evon if
you do havo a bIockbusLor,
you know you`ro going Lo goL
Ioafroggod in six monLhs.
You havo Lo como ouL wiLh
somoLhing LhaL roaIIy knocks
off Lho anLs and Lhon foIIow iL
u. You can`L jusL siL Lhoro and
say, 'Hoy I`vo goL a succoss.``
In Lho caso of Lho TouchPad,
anaIysLs agroo iL faiIod bocauso iLs
ooraLing sysLom, wobOS, had fow
of Lho as LhaL mado AIo`s iPad a
runaway hiL, ho said. MicrosofL`s Kin had
a simiIar robIom.
McGrogor said LhaL GoogIo TV, GoogIo`s
inLornoL-connocLod LoIovision accossory,
fadod inLo obscuriLy bocauso of a backIash
from conLonL rovidors LhaL docIinod
Lo mako Lhoir conLonL avaiIabIo. GoogIo
had Iinod u various manufacLurors as
arLnors, incIuding LG, Toshiba and
Shar, onIy Lo LoII many of Lhom in
Docombor Lo doIay Lho roIoaso of Lhoir
GoogIo TV roducLs. WhiIo GoogIo`s
sLraLogy for GoogIo TV romains uncIoar,
nono of Lhoso arLnors havo como ouL wiLh
a GoogIo TV roducL.
Tho conLonL is worLh moro Lhan Lho
dovico,` McGrogor said. If you don`L havo
ovoryLhing - Lho conLonL, Lho aIicaLions
and Lho oxorionco - you mighL as woII
dro your anchor and jum off Lho shi.`
>O>GFB@AMR AIo was noL aIways so
skiIIod. Liko oLhor comanios Loday, AIo
sufforod a sLroak of bad Iuck wiLh now
roducLs moro Lhan a docado ago and,
Iiko Lhom, iL cuL iLs Iossos. Tho comany
kiIIod Lho Powor Mac G4 Cubo, a doskLo
comuLor, in 2uu1 afLor onIy 11 monLhs
bocauso consumors boIiovod Lho rico was
Loo high and baIkod aL having Lo buy a
moniLor soaraLoIy.
Two days afLor announcing iL wouId kiII
Lho TouchPad, HP sLarLod unIoading iLs
invonLory Lhrough a firo saIo. Tho sLoo
discounL - 8u or conL off Lho originaI
rico - succoodod in soLLing off a buying
fronzy LhaL HP`s oxocuLivos had hood for
whon Lhoy inLroducod Lho dovico.
HP`s onIino sLoro aIong wiLh BosL Buy,
TargoL and WaImarL quickIy ran ouL of
TouchPads afLor uLLing Lhom on saIo for
$1uu for Lho 16G vorsion and $1u for Lho
32G vorsion. Whon originaIIy avaiIabIo in
JuIy, Lhoy woro IisLod aL $uu and $6uu.
PooIo sLraLogisod on onIino mossago
boards abouL how Lo find a TouchPad.
HP`s caII conLro was ovorwhoImod.
AII Lhis cIamouring for Lho TouchPad,
kind of biLLorswooL,` HP`s cusLomor sorvico
arm said in a osL on TwiLLor.
The Power Mac G4 Cube never
sold well as customers found
it too expensive.
Hewlett-Packard had high
hopes for its TouchPad tablet.
I fooI Iiko Lhoy Iiod Lo us,` LoCurLo said.
Thoy didn`L givo iL a chanco.`
Comanios kiII now roducLs moro
quickIy now bocauso of Lho highor cosL of
sLaying comoLiLivo, said Jim McGrogor,
rosoarch dirocLor for In-SLaL, a markoL
rosoarch firm. QuickIy uIIing Lho Iug
on an obvious faiIuro makos sonso,
Even if you do have
a blockbuster, you
know youre going
to get leapfrogged in
six months. You have
to come out with
something that really
knocks off the pants
and then follow it up.
You cant just sit there
and say, Hey Ive got a
success.
13.10.2011 15:35 PDF/X-1a-2001 (QUADRI_300dpi_tx_vecto) fogra39
Portfolio
CMYK
50
C
h
i
n
a
SHARING
THE WEALTH
The 2,000 inhabitants of the Chinese village of
Huaxi have become wealthy by a unique mix of
capitalism and socialism, reports Michael Wines.
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lab_mmaÂnZqb^\hghfr_khf_Zkfbg`mh
fZgn_Z\mnkbg`Zg]mkZ]^%[nmpbmaZmpblm3
ma^k^lb]^gmlphne]makhpma^bkfhg^rbgmh
Z\hee^\mboîhmZg]laZk^bgma^mZd^_khf
paZmô^kg^p[nlbg^ll^lma^r[hnàm'
Huaxis 328-metre skyscraper, called
New Village in the Sky, is scheduled
for an October opening.
50-54 China Village.indd 50 10/19/11 3:41:33 PM
November 2011
CMYK
In Lho 3u yoars afLor Lho ooning u,
Lho sysLom changod in many Iacos,` Wu`s
son, Wu Xioòn, said in a roconL inLorviow.
Somo choso rivaLo ownorshi, buL wo
Huaxi ooIo choso ubIic ownorshi. Tho
biggosL bonofiL is LhaL Lho ooIo sharo Lho
common rosoriLy.`
ThaL Huaxi is rosorous sooms
undoniabIo. Horo, Lho viIIagors goL Iavish
annuaI sLionds, Iivo in sacious singIo-
famiIy homos insLoad of China`s usuaI
cramod aarLmonLs, drivo imorLod cars,
and goL basic modicaI caro, oducaLion
and ovon an annuaI vacaLion froo from
Lho govornmonL. LaLoIy Lhoy aIso goL
froo hoIicoLor ridos, courLosy of a 1uu
miIIion ronminbi, or $1. miIIion, fIooL
of hoIicoLors and smaII joLs Lho viIIago is
buying Lo aLLracL sLiII moro sighLsoors.
@>QBN?:G@, now 62, was a onniIoss
oasanL in a norLhorn aroa of Jiangsu
rovinco whon hor nowIy graduaLod son
bogan Iooking for work in Lho oarIy 1us.
Ho saw an ad in Lho aor caIIing for
workors Lo como Lo Huaxi,` sho said. So
wo camo horo, and Lwo yoars IaLor, wo
bocamo viIIagors.`
ThaL was in 13, boforo Huaxi Look off.
Go was inLorviowod in hor son`s houso, a
Lwo-sLoroy buiIding wiLh marbIo fIoors,
ovorsLuffod IoaLhor sofas and a Iargo
aquarium. Go said sho and hor husband
51
Portfolio
CMYK
The 2,000 residents of Huaxi have a very high standard of living. The town is clean, well
planned and many of the residents live in houses. Due to space limitations more towers
are being built.
Huaxis affairs are
run by a company,
reported to shelter 57
subsidiaries, including
seven more holding
companies. The
town has interests
in everything from
extruded aluminium to
traditional medicine to
spun polyester cloth to
real estate.
Iivo in a srawIing Lown houso a fow
bIocks away and shuLLIo boLwoon homos
in ono of Lho famiIy`s Lhroo cars. Wo
oasanLs, wo didn`L ovon havo aarLmonL
buiIdings in Lhoso days,` sho said. Wo had
no idoa iL wouId bo Lhis good.`
MA>>E=>KWu oxLoIs Huaxi`s sIondour
- and Lho Boijing govornmonL`s wisdom
and forosighL - in a IongLhy IocLuro givon
oach morning in an audiLorium ackod
wiLh hundrods of LourisLs. To hammor Lho
mossago homo, Lhoro foIIows a musicaI,
a sorL of Chinoso oora wiLh Disnoy
characLorisLics LhaL sorLs Loo-Laing Iyrics:
Whoro wo Iivo: gardon, houso, IiLLIo
WosLorn-sLyIo mansion. WhaL wo oaL: a food
cuILuro fuII of nuLriLion. WhaL wo woar: big
brand namos of fashion. And Huaxi is rich
in subsLanco, oIiLics and siriL.`
Ono Amorican guosL said, OK, OK,
sociaIism is so good, wo Amoricans wanL
iL, Loo!`
YoL whaL is brandod as sociaIism Iooks
from Lho ouLsido a groaL doaI Iiko an
oId-fashionod caiLaIisL cororaLion,
aaronLIy savviIy managod, wiLh 2,uuu
sharohoIdors who Iivo comforLabIy off
Lhoir dividonds. Indood, Huaxi`s affairs
aro run by a comany, Jiangsu Huaxi
Grou Cor., roorLod Lo shoILor ,
Huaxis citizens own numerous business
ventures as a collective, including the
local steel factory.
52
C
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Swiss
values form the backbone of our approach
to Private Banking. Reliability, attention to
detail, thoroughness these are the essential
principles that enable us to offer our clients
solutions of lasting
quality.
Ramzi Charaf, Private Banking
Bank Vontobel (Middle East) Ltd.
Liberty House, Ofce 913
Dubai International Financial Centre
P.O. Box 506814
Dubai, United Arab Emirates
Telephone +971 (0)4 703 85 70
Telefax +971 (0)4 703 85 01
Bank Vontobel (Middle East) Ltd. is regulated by the DFSA to provide nancial services to Professional Clients within the scope of its Licence.
Persons other than Professional Clients, such as Retail Clients, are not the intended recipients of this communication and must not act upon or
rely upon the content of this communication.
Bank Vontobel (Middle East) Ltd. is duly incorporated as a company limited by shares under the laws of the DIFC.
Portfolio_EFC_270x206_Charaf_en.indd 1 18.10.11 10:40
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workors aro LroaLod as fuII mombors of
Lho communiLy,` Wang said, Lhon Huaxi
wouIdn`L work.`
Tho Lwo Wus aIIow LhaL Lho viIIago
has yoL boon unabIo Lo shod caiLaIism,
buL Lhoy insisL LhaL Huaxi has movod Lo
a highor IovoI of sociaIism Lhan China
aL Iargo, and LhaL uLoia is a maLLor of
Limo. Huaxi`s dovoIomonL doonds on
caiLaIism and businoss,` Lho oIdor Wu
said. BuL caiLaIism is onIy a Lomorary
sLago. EvonLuaIIy, wo wiII buiId Chinoso
sociaIism wiLh Chinoso characLorisLics.`
To Huaxi`s 2,uuu sharohoIdors, iL may
bo a disLincLion wiLhouL a difforonco as
Iong as Lho rofiLs koo roIIing in. Wu
says Lhoy wiII: in Lhroo docados, ho insisLs,
noL ono businoss vonLuro has gono sour.
To Huaxi`s cauLious viIIagors, ho said,
invosLing is Iiko sLoing on soa ico.`
WiII a ,4-sLoroy buiIding in Lho middIo
of nowhoro crack Lho ico? NoL IikoIy, Lho
Wus say: JusL in Lho IasL yoar, ono of Lho
buiIding`s waLor buffaIos has grown in
vaIuo by ,u miIIion ronminbi, or abouL
$1u., miIIion.
ThaL wouId bo Lho buffaIo dosLinod for
fIoor ,4. Tho ono casL in soIid goId.
subsidiarios, incIuding sovon moro hoIding
comanios. Tho Lown has inLorosLs in
ovoryLhing from oxLrudod aIuminium Lo
LradiLionaI modicino Lo sun oIyosLor
cIoLh Lo roaI osLaLo.
Wo havo Loo many invosLmonLs Lo
counL,` said Lho youngor Wu, Lho chiof
oxocuLivo of Lho onLorriso, which is
said on sovoraI wobsiLos Lo bo managod
by mombors of Lho Wu famiIy. Ho said
ho sonds his days worrying abouL
invosLmonL bubbIos, and srinkIos his
convorsaLion wiLh roforoncos Lo businoss
advico gIoanod aL Lho UnivorsiLy of
CaIifornia, BorkoIoy, and from sLudios of
GonoraI EIocLric`s businoss modoI.
Thoso cIaims of succoss aro hard Lo
vorify, bocauso Lho congIomoraLo`s rovonuo
and oarnings aro noL discIosod in an
audiLod form. PubIishod buL unvorifiod
roorLs indicaLo LhaL Lho cororaLion
omIoys aL IoasL 2,uuu ooIo, many
of whom Iivo in Lho urban aroa of abouL
3u,uuu LhaL oxisLs ouLsido Huaxi`s cramod
IogaI boundarios. A 2uu roorL in a
sLaLo-run nowsaor said annuaI rovonuo
LoLaIIod u biIIion ronminbi, abouL $,.,
biIIion aL curronL oxchango raLos.
OBEE:@>E>:=>KLhavo doniod
orsisLonL roorLs LhaL Huaxi bonofiLs
from subsLanLiaI govornmonL subsidios
Iiko Iow-inLorosL Ioans, aILhough Lho
youngor Wu said in an inLorviow LhaL
somo of Lho viIIago`s vonLuros aro financod
by dobL LhaL amounLs Lo as much as 6u
or conL of Lhoir vaIuo.
WhiIo oach viIIagor is roquirod Lo
work aL a Huaxi businoss sovon days a
wook, virLuaIIy aII Lho manuaI Iabour is
orformod by whaL Marx mighL havo
caIIod Lho roIoLariaL: Lhousands of
ouLsido workors, many of Lhom migranLs,
who rocoivo boLLor saIarios and bonofiLs
Lhan many workors oIsowhoro, buL do
noL sharo in Huaxi`s rofiLs. Ior LhaL, ono
noods a hukou, or rosidonco ormiL - and
Huaxi hands Lhoso ouL wiLh groaL caro.
This is caIIod oxIoiLaLion,` said Ioi-
Ling Wang, a Goorgia Toch rofossor who
has sLudiod Huaxi as arL of rosoarch inLo
Jiangsu rovinco viIIagos. Bocauso Lho
ouLsido workors, by Iaw, cannoL bocomo
a IocaI rosidonL Lhoy cannoL sharo Lho
rosuILs of Lhoir works. And Lhoy aro aid
by wagos, and if Lhoy IosL Lhoir job, Lhoy
aro simIy sonL homo.` If aII migranL
Two million tourists come annually to Huaxi. Theres a daily musical performance in the local auditorium that highlights the towns
philosophy and success.
NBAD Formula 1 Precision E 20.6x27.pdf 1 10/20/11 3:21 PM
Portfolio
CMYK
LINKING THE
POOR TO GROWTH
Work is underway in India to create the worlds largest biometric
database. It is hoped that by giving people identities that can be
instantly verified the countrys poor will benefit from the rapid
economic growth, reports Lydia Polgreen.
Vijaykanti, a migrant farm worker,
scans her fingerprints to register for
a national identity card and number
in New Delhi.
56
56-60 India.indd 56 10/19/11 3:42:50 PM
Portfolio
CMYK
LINKING THE
POOR TO GROWTH
Work is underway in India to create the worlds largest biometric
database. It is hoped that by giving people identities that can be
instantly verified the countrys poor will benefit from the rapid
economic growth, reports Lydia Polgreen.
Vijaykanti, a migrant farm worker,
scans her fingerprints to register for
a national identity card and number
in New Delhi.
56
56-60 India.indd 56 10/19/11 3:42:50 PM
November 2011
CMYK
57
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GD:CB;A:B@:G@:K%:-2&R>:K&
oId subsisLonco farmor, sLood in Iino
in Lho romoLo viIIago of KaIdari unLiI,
for Lho firsL Limo in his Iifo, ho squinLod inLo Lho
sofL gIow of a comuLor scroon. His namo, yoar of
birLh and addross woro rocordod. A workor guidod
Gangar`s rough fingors Lo Lho gIowing groon surfaco
of a scannor Lo rocord his fingorrinLs. Ho oorod
inLo an iris scannor shaod Iiko binocuIars LhaL
caLurod Lho uniquo aLLorns of his oyos.
WiLh LhaL, Gangar wouId bo assignod a 12-digiL
numbor, Lho firsL officiaI roof LhaL ho oxisLs. Ho
can uso Lho numbor, aIong wiLh a LhumbrinL, Lo
idonLify himsoIf anywhoro in Lho counLry. IL wiII aIIow
him Lo gain accoss Lo woIfaro bonofiLs, oon a bank
accounL or goL a coIIhono far from his homo viIIago,
somoLhing LhaL is sLiII imossibIo for many ooIo in
India. Maybo wo wiII goL somo hoI,` Gangar said.
Across Lhis srawIing naLion, workors aro
croaLing whaL wiII bo Lho worId`s IargosL biomoLric
daLabaso, a mind-boggIingIy comIox coIIocLion
of 1.2 biIIion idonLiLios. BuL ovon moro radicaI
Lhan iLs sizo is Lho scaIo of iLs ambiLion: Lo roduco
Lho inoquaIiLy corroding India`s oconomic riso by
digiLaIIy Iinking ovory ono of India`s ooIo Lo Lho
counLry`s growLh juggornauL.
Ior docados, India`s srawIing and inofficionL
buroaucracy has sonL biIIions of doIIars Lo Lry Lo
drag Lho oor ouL of ovorLy. BuL much of Lho monoy
is wasLod or simIy onds u Lraing Lho oor
in viIIagos Iiko KaIdari, in a romoLo cornor of Lho
wosLorn sLaLo of MaharashLra, doondonL on IocaI
handouLs LhaL Lhoy can Ioso if Lhoy Ioavo homo.
So now iL is Lrying somoLhing difforonL. Using
Lho samo oworfuI LochnoIogy LhaL Lransformod
Lho counLry`s rivaLo oconomy, Lho Indian
govornmonL has croaLod a Liny sLarLu of skiIIod
adminisLraLors and rogrammors Lo hoI Lransform
- or circumvonL - Lho criIing buroaucracy LhaL is
a Iogacy of iLs sociaIisL asL.
WhaL wo aro croaLing is as imorLanL as a road,`
said Nandan M. NiIokani, Lho biIIionairo sofLwaro
moguI whom Lho govornmonL has Laod Lo croaLo
India`s idonLiLy daLabaso. IL is a road LhaL in somo
sonso connocLs ovory individuaI Lo Lho sLaLo.`
Tho now numbor-basod sysLom, known as Aadhaar,
or foundaLion, wouId bo usod Lo vorify Lho idonLiLy
of any Indian anywhoro in Lho counLry wiLhin oighL
soconds, using inoxonsivo hand-hoId dovicos Iinkod
Lo Lho mobiIo hono noLwork. IL wouId aIso sorvo as
a shorLcuL Lo buiIding roaI ciLizonshi in a socioLy
whoro idonLiLy is aImosL aIways modiaLod Lhrough a
grou - casLo, kin and roIigion. Aadhaar wouId for Lho
firsL Limo idonLify oach Indian as an individuaI. India
may bo Lho worId`s socond-fasLosL-growing oconomy,
buL moro Lhan 4uu miIIion Indians Iivo in ovorLy,
according Lo govornmonL figuros.
ILs oxonsivo ubIic woIfaro sysLoms aro so
inofficionL LhaL warohousos ovorfIow wiLh roLLing
grain dosiLo maInuLriLion raLos LhaL rivaI Lhoso
of sub-Saharan Africa, and much of iL is sihonod
off Lo Lho rivaLo markoL Iong boforo iL roachos
INDIA
BHUTAN
Mumbai
Kaldari
Bengaluru
SRI S LANKA
UTTAR
PRADESH
MAHARASHRTA
Bay of Bengal
Indian Ocean
Delhi
500 MILES
N.Y. Times News Service
Date: 09/06/11
Graphic Slug: DATABASE-POLGREEN-BSPR
Size: 2.1 x 2.4
With Story: (BC--DATABASE-POLGREEN-BSPR--NYT)
The New York Times
People at a New Delhi wholesale vegetable market had the opportunity to
register for Aadhaar. It is hoped that by giving people identities, welfare and
social projects can reach those who need it most.
56-60 India.indd 57 10/19/11 3:42:55 PM
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58
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havo boon issuod so far. Tho rocoss is froo
and voIunLary, and India`s idonLiLy daLabaso
wiII bo an ordor of magniLudo Iargor Lhan
Lho worId`s IargosL oxisLing biomoLric
daLabaso, Lho US-VisiL rogrammo for
visas, which has daLa on abouL 1uu miIIion
ooIo. To rogisLor aII 1.2 biIIion Indians,
Lho sysLom wiII nood Lo coIIocL 12 biIIion
fingorrinLs and scan 2.4 biIIion irisos. IL is
a rojocL of oic roorLions - noL unIiko
Lho chaIIongo of govorning Lho worId`s
IargosL domocracy.
Tho rojocL rosombIos a sLarLu
bocauso Lho man in chargo is NiIokani,
a co-foundor of India`s mosL famous
sLarLu. In 181 ho ooIod 1u,uuu
ruoos in caiLaI, or $1,1uu Lo $1,2uu,
wiLh six coIIoaguos Lo sLarL Infosys, Lho
ouLsourcing gianL. Two yoars ago, whon
Lho govornmonL docidod Lo croaLo Lho
idonLiLy daLabaso, NiIokani sLood down
as chairman of Infosys Lo ovorsoo Lho
offorL, forging an unusuaI aLh in Indian
ubIic Iifo from businoss Lo govornmonL.
BuL a doo susicion Loward rivaLo
onLorriso, a rosuIL of docados of sociaIisL
oIiLics, has ormoaLod ubIic Iifo.
PoIiLicaI arLios aro inLonsoIy hiorarchicaI
and formod aIong famiIy, roIigious and
casLo Iinos, making iL aII buL imossibIo
for an ouLsidor Iiko NiIokani Lo win an
oIocLion. SLiII, ho inod Lo sorvo somohow,
and his chanco camo whon Lho Congross
ParLy was ro-oIocLod and formod a
sLrong coaIiLion govornmonL in 2uu.
RahuI Gandhi, Lho Loch-savvy scion of
India`s Ioading oIiLicaI famiIy and Lho
rosumod rimo minisLor in waiLing,
wanLod NiIokani Lo join Lho govornmonL.
AL firsL Gandhi askod NiIokani Lo
Lransform Lho dysfuncLionaI oducaLion
buroaucracy, according Lo a sonior
govornmonL officiaI famiIiar wiLh
Gandhi`s Lhinking. BuL Sonia Gandhi,
Gandhi`s moLhor and Lho Ioador of Lho
hungry mouLhs. TochnoIogy, iLs suorLors
boIiovo, couId soIvo Lhoso robIoms bocauso
iL wouId rovido ooIo wiLh a way Lo
inLoracL wiLh Lho sLaLo wiLhouL doonding
on IocaI officiaIs who aro now Lho main
gaLokooors of govornmonL sorvicos.
MH;NBE=Lho daLabaso, Lho Indian
govornmonL has croaLod a highIy unusuaI
hybrid insLiLuLion: a smaII Loam of oIiLo
buroaucraLs who aro working wiLh voLorans
of SiIicon VaIIoy sLarLus and BangaIoro`s
mosL rosocLod LochnoIogy comanios.
AL iLs oak no moro Lhan a fow hundrod
ooIo wiII work on Lho rojocL, and rivaLo
conLracLors wiII do much of Lho work of
onroIIing ciLizons. IL cosLs Lho rogrammo
abouL $3 Lo issuo oach Aadhaar numbor,
NiIokani said, and moro Lhan 3u miIIion
To register all 1.2 billion Indians, the system will need to
collect 12 billion fingerprints and scan 2.4 billion irises. It is
a project of epic proportions not unlike the challenge of
governing the worlds largest democracy.
Homeless workers scan their irises and fingerprints. It costs
the programme about $3 to issue each Aadhaar number.
56-60 India.indd 58 10/19/11 3:42:58 PM
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- and unnocossary bocauso Lhoro aro oasior
ways Lo chock corruLion in anLiovorLy
rogrammos. ChhaLLisgarh SLaLo, in conLraI
India, has drasLicaIIy roducod wasLo and
fraud in iLs doIivory of subsidisod grain
using a sysLom of smarL cards.
BuL Lho rojocL has onjoyod an unusuaI
dogroo of suorL from Lho vory highosL
officiaIs in India. Whon Lho rogrammo
was inauguraLod, Primo MinisLor Singh
and Sonia Gandhi, Lho IofL-Ioaning Ioador
of Lho Congross ParLy, aLLondod Lho
coromony. SovoraI infIuonLiaI mombors
of Lho NaLionaI Advisory CounciI, a kind
of kiLchon cabinoL LhaL advisos Gandhi
on sociaI oIicy, woro dooIy wary of Lho
rojocL, buL sho ovorruIod Lhom. Mrs
Gandhi normaIIy consonLs Lo discussions
on a numbor of issuos wo raiso,` said
Harsh Mandor, an acLivisL and mombor of
Lho counciI. BuL on Lhis sho said, 'No, wo
aro going ahoad wiLh Lho idoa.``
NG=>K:G ovorass noar Lho bank
of Lho Yamuna Rivor, in Lho shadow of
Now DoIhi, Lho homoIoss Iinod u Lo bo
counLod. Mohammod JaIiI, a rickshaw
uIIor drossod in his bosL shirL, hair froshIy
washod and noaLIy arLod, saL unoasiIy
bohind a comuLor scroon, waiLing Lo
bo rogisLorod for an Aadhaar numbor.
Though ho has Iivod in DoIhi moro Lhan
haIf his Iifo, JaIiI may as woII noL oxisL.
Ho is homoIoss. Ho has no bank accounL,
making iL hard Lo savo monoy. Whon
ono of his chiIdron goL sick, ho Look a
Ioan from a monoyIondor aL an onorous
inLorosL raLo. Poor ooIo Iiko him aro
onLiLIod Lo subsidios for food, housing and
hoaILh caro, buL ho has no accoss Lo Lhom.
JaIiI hoos LhaL Aadhaar wiII aIIow him
Lo oon a bank accounL. Ho couId goL a
drivor`s Iiconso and a coIIhono. ThaL wiII
givo mo an idonLiLy,` ho said, gosLuring aL
Lho comuLor sLaLion whoro ho had jusL
comIoLod his onroImonL. IL wiII show
LhaL I am a human boing, LhaL I am aIivo,
LhaL I Iivo on Lhis IanoL. IL wiII rovo I am
an Indian.` JaIiI`s numbor has yoL Lo arrivo,
buL ho is waiLing.
Nandan Nilekani, a software mogul whom
the government has tapped to create
Indias identity database.
Temporary identity cards are sorted out as people register at a homeless shelter in
New Delhi.
Congross ParLy, aIong wiLh Primo MinisLor
Manmohan Singh, concIudod LhaL such a
movo wouId causo Loo much of an uroar.
Whon Lho govornmonL docidod Lo croaLo
Lho uniquo-idonLiLy sysLom, NiIokani IoaL
aL Lho chanco Lo run iL. Though ho wouId
hoId cabinoL rank, ho wouId bo in chargo of
a smaII and soomingIy arcano govornmonL
auLhoriLy. No ono wouId noLico LhaL ho was
working on a rovoIuLionary rojocL, Lho
Gandhis and Singh concIudod.
PooIo don`L fuIIy roaIiso whaL can bo
dono wiLh Lhis,` said a sonior govornmonL
officiaI working on Lho idonLiLy sysLom, who
roquosLod anonymiLy bocauso Lho scoo
of Lho rojocL is a doIicaLo subjocL. PooIo
who aro noL famiIiar wiLh LochnoIogy don`L
undorsLand how big Lhis is.`
UnsurrisingIy, somo ooIo soo Lho
idoa of a conLraIisod idonLiLy daLabaso as
a dysLoian nighLmaro. Privacy advocaLos
conLond LhaL Lho govornmonL wiII uso iL Lo
Lrack ciLizons.
India Iacks robusL Iaws Lo roLocL
rivacy, Lhough NiIokani and oLhors havo
urgod Lho assago of sLricL IogisIaLion
Lo govorn Lho uso of informaLion Lho
govornmonL coIIocLs. Tho daLabaso
has boon dosignod Lo conLain as IiLLIo
informaLion as ossibIo - onIy a namo,
daLo of birLh, sox and addross. Whon
anyono Lrios Lo confirm a orson`s idonLiLy
using Lho numbor, Lho daLabaso wiII
suIy onIy a yos-or-no answor.
Many infIuonLiaI criLics of Lho idonLiLy
sysLom arguo LhaL iL is cosLIy - $326 miIIion
is budgoLod for Lho noxL financiaI yoar, and
Lho rojocL wiII Lako a docado Lo comIoLo
56-60 India.indd 60 10/19/11 3:43:01 PM
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THE DEMISE OF MASS-
MARKET PAPERBACKS

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Hardcovers, trade paperbacks and e-books have all eaten into the market
share of the mass-market paperback that used to accompany us on our
travels, reports Julie Bosman.
T
A>L>:K>=:KD:G=
sLormy Limos for Lho mass-markoL
aorback, LhaL squaL IiLLIo book
LhaL caIIs Lo mind Lho boach and airorL
nowssLands. Rocossion-mindod roadors
who mighL havo ickod u a quick novoI
in Lho suormarkoL or aL a nowsagonL
aro IaLoIy rosisLing Lho imuIso urchaso.
ShoIf saco in booksLoros and roLaiI
chains has boon Lurnod ovor Lo moro
oxonsivo odiLions, Iiko hardcovors and
Lrado aorbacks, Lho sIookor, moro
gIamorous cousin Lo Lho mass-markoL
aorback. A Lrado aorback is LyicaIIy
of boLLor roducLion quaIiLy,
Iargor sizo, and highor rico
Lhan a mass-markoL odiLion,
inLondod for saIo in booksLoros.
Tho ricos of rinL formaLs aro LyicaIIy
soaraLod by aL IoasL a fow doIIars, and
whiIo mass-markoL aorbacks havo
aIways boon rizod for Lhoir choanoss
and disosabiIiLy, somoLhing ovon moro
convonionL has como aIong: Lho o-book.
A comrohonsivo survoy roIoasod in
AugusL by Lho AssociaLion of Amorican
PubIishors and Lho Book IndusLry SLudy
Grou rovoaIod LhaL whiIo Lho ubIishing
indusLry has oxandod ovoraII, ubIishors`
mass-markoL aorback saIos havo faIIon
14 or conL sinco 2uu8.
Iivo yoars ago, iL was a robusL markoL,`
said David GornorL, a IiLorary agonL whoso
cIionLs incIudo John Grisham, a oronniaI
bosL-soIIor in mass-markoL. Now iL`s on
Lho wano, and o-books havo biLLon a big
chunk ouL of iL.`
Iading away is a formaL LhaL was
boLh inoxonsivo and widoIy accossibIo
- LhriIIors, mysLorios and romancos by
auLhors Iiko Jamos PaLLorson, SLohon
King, CIivo CussIor and Nora RoborLs
LhaL woro urchasod noL Lo bo roudIy
disIayod on a Iiving room shoIf (and
novor road), buL Lo bo addicLivoIy
dovourod by dovoLod roadors.
In Lhoso days, you couId oasiIy shi ouL
a miIIion coios of a book,` said BoLh do
Guzman, odiLor-in-chiof of aorbacks
for Grand ConLraI PubIishing, arL of
Lho HachoLLo Book Grou. Thon shoIf
saco sLarLod docroasing and docroasing
for mass-markoL, and iL has osociaIIy
docIinod in Lho IasL sovoraI yoars.`
Ior docados, Lho mass-markoL
aorback has sLubbornIy hoId on,
dosiLo Lho rodicLions of iLs doaLh sinco
Lho 18us, whon roLaiI chains LhaL odgod
ouL indoondonL booksLoros succossfuIIy
inLroducod discounLs on hardcovor vorsions
of Lho samo LiLIos. MichaoI ConnoIIy, Lho
bosL-soIIing mysLory wriLor bosL known for
MaÊbg\hegEZpr^k, said ho worriod LhaL
book buyors wouId noL bo abIo Lo discovor
now auLhors vory oasiIy if mass-markoL
aorbacks conLinuo Lo bo hasod ouL.
Growing u and roading rimariIy
inoxonsivo mass-markoL novoIs, iL aIIows
you Lo oxIoro,` ho said. I boughL counLIoss
novoIs basod on Lho covor or basod on Lho
LiLIo, noL knowing whaL was insido.`
Tho growLh of Lho o-book has forcod a
convorsaLion in Lho ubIishing indusLry
abouL which rinL formaLs wiII survivo
in Lho Iong Lorm. PubIishors havo bogun
roIoasing Lrado aorbacks soonor Lhan
Lho LradiLionaI ono-yoar oriod afLor Lho
roIoaso of Lho hardcovor, Ioaving Lho mass-
markoL aorback ovon furLhor bohind.
CosL-conscious roadors who usod Lo waiL
for Lho hoaviIy discounLod mass-markoL
aorback havo now roaIisod LhaL Lho
o-book odiLion, avaiIabIo on Lho firsL day
Lho book is ubIishod, can bo abouL Lho
samo rico. Ior dovoLod roadors of mass-
markoL novoIs, ooIo who somoLimos
voraciousIy consumo sovoraI books in a
singIo wook, o-books aro a naLuraI fiL.
IL`s a quosLion of, do you sLiII wanL Lo
waiL for Lho book?` said LiaLo SLohIik, Lho
ubIishor of WiIIiam Morrow, Avon and
Voyagor, imrinLs of HarorCoIIins. Tho
ooIo who usod Lo waiL Lo buy Lho mass-
markoL aorback bocauso of Lho rico
aron`L going Lo waiL anymoro.`
ThaL couId bo good nows for auLhors
who mako u for a Ioss in mass-markoL
saIos wiLh incroasos in o-book saIos.
Cost-conscious readers who used to wait for the
heavily discounted mass-market paperback have
now realised that the e-book edition, available on
the first day the book is published, can be about the
same price.
November 2011
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Author Michael Connelly, whos books
normally went from hardcovers directly to
mass-market paperbacks, is having his first
book published in trade paperback format.
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NobIo usod Lo koo a Iargo disIay soIoIy for
mass-markoL aorbacks in Lho fronL of iLs
sLoros, buL LhaL has disaoarod. Bordors,
onco a sLrong soIIor of mass-markoL
aorbacks, osociaIIy romanco, is in Lho
rocoss of IiquidaLing aII of iLs sLoros.
SovoraI ubIishors said WaI-MarL, a
major soIIor of mass-markoL aorbacks,
has boon quioLIy rovaming iLs book
soIocLion Lo incIudo fowor mass-markoL
aorbacks and moro Lrado aorbacks.
Evon airorL sLoros, LradiLionaIIy a
mainsLay roLaiIor of mass-markoL
aorbacks, aro shunning Lhom moro
froquonLIy in favour of hardcovors and
Lrado aorbacks.
Sara HinckIoy, Lho vico rosidonL of
book buying and romoLions for Hudson
BooksoIIors, said Lho sLoros havo graduaIIy
docroasod Lhoir soIocLion in roconL yoars,
whiIo incroasing Lhoir array of hardcovors
and Lrado aorbacks. SaIos in Lrado
aorbacks, sho said, havo conLinuod Lo
incroaso in roconL yoars. LasL auLumn, in
6u of iLs sLoros, Hudson cuL Lho disIay
saco for mass-markoL aorbacks in haIf.
WiLh Ioss domand and Ioss roLaiI shoIf
saco for Lho formaL, and highor roLaiIs on
Lho Lrado aors, Lhoro simIy isn`L as much
ubIishing inLo Lho formaL, which in Lurn
croaLos docIining saIos,` HinckIoy said.
Somo ubIishors havo rosondod by
roIoasing books in Lrado aorback formaL
boforo Lho mass-markoL odiLion. Grand
ConLraI PubIishing Ians Lo roIoaso Lrado
aorback vorsions of Ma^LbqmaFZg by
David BaIdacci and E^maZe by Sandra Brown
- Lho firsL Limo Lhoso auLhors` LhriIIors havo
boon ubIishod in Lrado aorback.
AfLor 2u yoars as a bosL-soIIing auLhor,
ConnoIIy wiII oxorionco a firsL Lhis
auLumn: his IaLosL IogaI LhriIIor, Ma^
?b_maPbmg^ll, wiII bo roIoasod as a Lrado
aorback by Grand ConLraI. Irom my
sLandoinL, which is robabIy uro vaniLy,
Lho Lrado aorback odiLion is ofLon Lho
way of ubIishing moro IiLorary novoIs,`
ConnoIIy said. So for mo, iL`s a cooI ogo
Lhing - I goL Lo bo in Lho Lrado odiLion. BuL
boyond LhaL, I`m hoing iL works.`
GonoraIIy soaking, auLhors mako moro
royaILios on an o-book Lhan on a mass-
markoL aorback. E-book bosL-soIIor
IisLs aro ackod wiLh Lho gonro novoIs LhaL
havo LradiLionaIIy dominaLod mass-markoL
aorback bosL-soIIor IisLs. In somo ways,
Lho o-book is yosLorday`s mass-markoL,`
said MaLLhow Shoar, oxocuLivo vico
rosidonL and ubIishor of SL. MarLin`s
Pross, which curronLIy has books by JanoL
Evanovich and Lora Loigh on Lho mass-
markoL aorback bosL-soIIor IisL in Ma^
G^pRhkdMbf^l.
F:LL&F:KD>M aorback saIos havo
boon sIiding sinco gianL booksLoro chains
and IaLor Amazon.com sLarLod hoaviIy
discounLing hardcovors in Lho 18us and
1us. Tho docIino of Lho mass-markoL
aorback has dooonod in Lho IasL Lwo
yoars, said KoIIy GaIIaghor, Lho vico
rosidonL of ubIishing sorvicos for Bowkor,
a rosoarch organisaLion for Lho ubIishing
indusLry. You can`L IisL a singIo Lhing LhaL
has causod iLs domiso,` ho said. BuL as
o-books bocomo moro affordabIo and boLLor
aIignod Lo Lho mass-markoL roador, I wouId
havo Lo say LhaL I don`L Lhink Lhoro aro
oncouraging signs LhaL rinL mass-markoL
books wiII riso again. Whon aII Lhoso Lhings
aIign againsL a corLain formaL or caLogory,
iL`s hard Lo rocovor.`
Do Guzman said LhaL Barnos &
Below: Authors such as Clive Cussler
have been a mainstay of mass-market
paperbacks, often purchased at airport
newsagents by people going on
holiday.
November 2011
67
CMYK
Essentials
THE BEST OF LEISURE AND LIFESTYLE
LA TEE BREAK
Business and leisure visitors to Los Angeles have one more reason to
enjoy their stay here municipal golf courses! The City of Los Angeles
boasts the largest publically owned golf course system in the US that is
easily accessible to tourists reports Norman Sklarewitz.
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November 2011
67
CMYK
Essentials
THE BEST OF LEISURE AND LIFESTYLE
LA TEE BREAK
Business and leisure visitors to Los Angeles have one more reason to
enjoy their stay here municipal golf courses! The City of Los Angeles
boasts the largest publically owned golf course system in the US that is
easily accessible to tourists reports Norman Sklarewitz.
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67-73 Golf in LA.indd 67 10/19/11 3:45:42 PM
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He also points out that the course has tee
placements ranging in length from 50 to 180
yards that offer new golfers an inviting setup, and
experienced golfers the opportunity to play every
type of short and mid-range shot imaginable.
anyono noods.` Lucky is rosidonL of hor
own comany invoIvod wiLh goIf markoLing
and, for Lho rocord, has a 4., indox. AIong
wiLh Lho oxLonsivo IisL of ubIic coursos,
in hor viow, Los AngoIos has somo of Lho
finosL rivaLo cIubs in Lho US`.
Businoss and Ioisuro visiLors Lo Los
AngoIos know Lhoy can onjoy a Iong IisL
of acLiviLios and faciIiLios - Lo-noLch
hoLoIs and rosorLs, fino dining, high-ond
shoing and non-sLo onLorLainmonL.
BuL Lho oorLuniLy Lo goL in a round or
Lwo of goIf roIaLivoIy cIoso Lo mosL hoLoIs
usod by visiLors is a vory IoasanL surriso.
Lucky fooIs LhaL a visiLor who wanLs Lo
incIudo a quaIiLy goIf oxorionco in a Lri
Lo SouLhorn CaIifornia wiII onjoy a broad
varioLy of coursos on which Lo Iay.`
WhaL fow visiLors know is LhaL Lho CiLy
of Los AngoIos owns and ooraLos Lho
IargosL coIIocLion of municiaI goIf coursos
in Lho UniLod SLaLos and whon iL comos Lo
Lho communiLios wiLhin Lho srawIing Los
AngoIos CounLy, iL Iays a araIIoI cIaim Lo
having Lho IargosL ubIicaIIy ownod goIf
courso sysLom in Lho US.
To bo socific, Lho CounLy of Los
AngoIos offors goIfors 1 coursos scaLLorod
around Lho srawIing aroa aL 1, IocaLions.
Of Lhoso 13 aro 18-hoIo roguIaLion coursos
and ono wiLh 2, hoIos - a roguIaLion
O
n Lho waII of his offico
IocaLod noar Los AngoIos
InLornaLionaI AirorL, Lho
Jaanoso oxocuLivo of a
major Lrading comany has a Iargo ma
of Lho moLrooIiLan Los AngoIos aroa.
InsorLod in Lho ma aro a numbor of
rod Lacks. A visiLor noLicod Lho markors
and casuaIIy askod if Lhoy indicaLod Lho
IocaLion of his suIiors or koy cusLomors.
Tho businossman smiIod, No, Lhoy aro
my favouriLo goIf coursos.` Sinco ho`s an
avid goIfor himsoIf, who Iivos Lo onLorLain
guosLs from Asia for a round or Lwo, his
uso of Lho ma as an offico docoraLion isn`L
Loo surrising. WhaL imrossos his visiLors
is Lho shoor numbor of ubIic and rivaLo
goIf coursos IocaLod righL in Lho ciLy of
Los AngoIos and in communiLios of Lho
surrounding Los AngoIos CounLy.
A goIfor coming Lo Lho LA aroa noods
onIy Lo ack his or hor shoos and gIovos,`
says NooI Lucky. GoIf cIubs aro avaiIabIo
aL ovory cIub; Lhoy havo aII Lho rosourcos

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He also points out that the course has tee
placements ranging in length from 50 to 180
yards that offer new golfers an inviting setup, and
experienced golfers the opportunity to play every
type of short and mid-range shot imaginable.
anyono noods.` Lucky is rosidonL of hor
own comany invoIvod wiLh goIf markoLing
and, for Lho rocord, has a 4., indox. AIong
wiLh Lho oxLonsivo IisL of ubIic coursos,
in hor viow, Los AngoIos has somo of Lho
finosL rivaLo cIubs in Lho US`.
Businoss and Ioisuro visiLors Lo Los
AngoIos know Lhoy can onjoy a Iong IisL
of acLiviLios and faciIiLios - Lo-noLch
hoLoIs and rosorLs, fino dining, high-ond
shoing and non-sLo onLorLainmonL.
BuL Lho oorLuniLy Lo goL in a round or
Lwo of goIf roIaLivoIy cIoso Lo mosL hoLoIs
usod by visiLors is a vory IoasanL surriso.
Lucky fooIs LhaL a visiLor who wanLs Lo
incIudo a quaIiLy goIf oxorionco in a Lri
Lo SouLhorn CaIifornia wiII onjoy a broad
varioLy of coursos on which Lo Iay.`
WhaL fow visiLors know is LhaL Lho CiLy
of Los AngoIos owns and ooraLos Lho
IargosL coIIocLion of municiaI goIf coursos
in Lho UniLod SLaLos and whon iL comos Lo
Lho communiLios wiLhin Lho srawIing Los
AngoIos CounLy, iL Iays a araIIoI cIaim Lo
having Lho IargosL ubIicaIIy ownod goIf
courso sysLom in Lho US.
To bo socific, Lho CounLy of Los
AngoIos offors goIfors 1 coursos scaLLorod
around Lho srawIing aroa aL 1, IocaLions.
Of Lhoso 13 aro 18-hoIo roguIaLion coursos
and ono wiLh 2, hoIos - a roguIaLion
O
n Lho waII of his offico
IocaLod noar Los AngoIos
InLornaLionaI AirorL, Lho
Jaanoso oxocuLivo of a
major Lrading comany has a Iargo ma
of Lho moLrooIiLan Los AngoIos aroa.
InsorLod in Lho ma aro a numbor of
rod Lacks. A visiLor noLicod Lho markors
and casuaIIy askod if Lhoy indicaLod Lho
IocaLion of his suIiors or koy cusLomors.
Tho businossman smiIod, No, Lhoy aro
my favouriLo goIf coursos.` Sinco ho`s an
avid goIfor himsoIf, who Iivos Lo onLorLain
guosLs from Asia for a round or Lwo, his
uso of Lho ma as an offico docoraLion isn`L
Loo surrising. WhaL imrossos his visiLors
is Lho shoor numbor of ubIic and rivaLo
goIf coursos IocaLod righL in Lho ciLy of
Los AngoIos and in communiLios of Lho
surrounding Los AngoIos CounLy.
A goIfor coming Lo Lho LA aroa noods
onIy Lo ack his or hor shoos and gIovos,`
says NooI Lucky. GoIf cIubs aro avaiIabIo
aL ovory cIub; Lhoy havo aII Lho rosourcos

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18-hoIo courso and anoLhor roguIaLion
-hoIo courso. In addiLion Lhoro aro Lhroo
-hoIo coursos Ius sovoraI ar Lhroos. Ior
iLs arL, Los AngoIos CiLy offors visiLors
a choico of sovon 18-hoIo coursos, Lhroo
-hoIo coursos wiLh Lho romaindor ar 3
or sociaI coursos.
Ior visiLors, arLicuIarIy from Asia
accusLomod Lo LravoIIing hours in ordor
Lo Iay and Lhon aying high foos, Lho
bonofiLs of LA`s municiaI coursos aro
hard Lo boIiovo. IL`s no surriso LhaL Lhoso
coursos como in for IonLy of uso. Jamos
Ward, goIf managor for Lho Los AngoIos
DoarLmonL of RocroaLion & Parks,
roorLs LhaL somo uu,uuu rounds woro
Iayod aL Lho ciLy`s coursos IasL yoar. MosL
ouIar of Lhoso was Lho Rancho Park
courso LhaL saw somo 1uu,uuu rounds
Iayod IasL yoar.
RaLos chargod aL boLh Lho LA CiLy and
CounLy coursos vary by Limo of day and
day of Lho wook buL aro uniformIy modosL.
On ciLy coursos, Lho rango of foos for
non-rosidonL goIfors goos from $23 for 18
hoIos Lo $48 on Lho wookonds or hoIidays.
PIay on a -hoIo courso rangos from $16
Lo $22. VisiLors can book Loo Limos oighL
days in advanco on Lho inLornoL.
Ioos on Lho counLy coursos aro aIso quiLo
Iow. PIay on a roguIaLion 18-hoIo counLy
courso on wookdays is onIy $26 and $3
on wookonds. Nino hoIo foos aro $16.,
wookdays and $21., on wookonds. Par 3
Iay foos aro $12.u and $1.u for 18 hoIos
and jusL $,.2 and $8.2 for nino hoIos.
ScaLLorod LhroughouL Lho moLro LA
aroa aro, of courso, a numbor of oxcIusivo
counLry cIubs. MainIy Lhoso rosLricL Iay
on Lhoir coursos Lo mombors buL ouLsidors
who aro inviLod by mombors aro aIso
oIigibIo Lo Iay.
MA>K>:K>% howovor, Iuxury rosorLs
LhaL woIcomo non-guosLs. Ono of Lhoso
is Lho Torranoa RosorL. LocaLod on a
icLurosquo bIuff ovorIooking Lho Pacific
Ocoan somo 2u miIos souLh of LAX, Lho
rosorL jusL oonod Lwo yoars ago and cosL
somo $uu miIIion Lo dovoIo. ILs -hoIo,
ar 3 courso is arL of Lho rosorL comIox
LhaL covors 1u2 acros and incIudos a
82-room rosorL Ius 82 condo viIIas.
Todd Eckonrodo, courso archiLocL,
doscribos Lho courso as roviding oIovaLion
changos, groon conLours, arLfuI bunkoring,
unobsLrucLod sighL Iinos, unaraIIoIod
viows, oxcoIIonL Iaying condiLions and a
wido rango of cIassic sLraLogic oIomonLs.`
Ho aIso oinLs ouL LhaL Lho courso has
Loo IacomonLs ranging in IongLh from
u Lo 18u yards LhaL offor now goIfors an
inviLing soLu, and oxorioncod goIfors Lho
oorLuniLy Lo Iay ovory Lyo of shorL and
mid-rango shoL imaginabIo.
Groon foos Monday Lhrough Thursday aro
$4u and $48 for Iay on Iriday, SaLurday,
Sunday and hoIidays. A waIking carL is $
and cIubs aro avaiIabIo for ronL.
JusL anoLhor fivo minuLos drivo furLhor
souLh on Lho samo PaIo Vordos PoninsuIa
Lakos goIfors Lo Lho ocoanfronL Trum
Terraneas 9-hole par 3 course offers both new and experienced golfers an inviting setup.
The Terranea Resort, which
cost $500 million to develop,
has stunning views over the
Pacific Ocean.
67-73 Golf in LA.indd 69 10/19/11 3:45:49 PM
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NaLionaI Courso. LocaLod 3u miIos from
downLown Los AngoIos, iL romoLos iLsoIf
as Lho mosL oxonsivo goIf courso ovor
buiIL.` WiLh a rico Lag of moro Lhan
$2u miIIion, LhaL`s a cIaim noL IikoIy Lo
bo chaIIongod.
Tho 18-hoIo ar ,1 courso was dosignod
by PoLo Dyo and Lho DonaId J. Trum
SignaLuro Dosign. A roconL firsL Limo
Iayor Lhoro doscribod Lho courso as groaL
buL difficuIL. Bring IoLs of baIIs.` IL`s aIso
mombors aro subjocL Lo chango.
CNLM: 2u-minuLo drivo from downLown
Los AngoIos is Lho IndusLry HiIIs GoIf
CIub aL Pacific PaIms. LocaLod on a
6u-acro siLo bonoaLh Lho San GabrioI
MounLains, Lho rosorL boasLs Lwo 18-hoIo
coursos - ono namod afLor Lho Amorican
WorId War II gonoraI and formor US
ProsidonL DwighL D. Eisonhowor. Tho
oLhor is namod afLor Lho famod woman
OIymic aLhIoLo and winnor of 82 goIf
LournamonLs - Babo Didrikson Zaharias.
BoLh coursos woro roconLIy ronovaLod
aL a cosL of $22 miIIion. AII fairways
and bunkors woro roIacod and a now
Because its relatively close to downtown
Los Angeles, the links at Indian Hills Golf
Club are a special favourite with visitors.
noL inoxonsivo. Groon foos vary according
Lo Lho Limo of day. SLarL your Iay aL 6 m
and Lho foo is $8u buL from , am Lo 1u:u
am you` II ay $2,. In boLwoon Lho foos
aro $16u and $21. IncIudod aro a GPS-
oquiod goIf carL, racLico baIIs, vaIoL
arking and Iockor room sorvico.
AnoLhor high-ond courso is Lho PaIos
Vordos GoIf CIub. IL has a 6,21-yard
18-hoIo ar ,1 courso. WhiIo an oLhorwiso
rivaLo cIub, PaIos Vordos accoLs
rosorvaLions from non-rosidonLs, buL for
wookdays onIy Iay and wiLh sLarLing
Limos aL 1 or 2 m. Groons foos aro $23.
BosL Lo caII ahoad Lo Lho DirocLor of GoIf
sinco oIicios rogarding Iay by non-
Green fees vary according to the time of day.
Start your play at 6 pm and the fee is $80 but from
7 am to 10:50 am youll pay $275. In between
the fees are $160 and $215. Included are a GPS-
equipped golf cart, practice balls, valet parking
and locker room service.
Donald Trump is behind the Trump
National Course that is billed as the
most expensive golf course ever built.
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TO BE ONE OF KIND
BRIONI.COM
RADISSON BLU (SAS), TEL 04 2288 110
DUBAI MALL, TEL 04 4341 418
MALL OF THE EMIRATES , TEL 04 3410 810
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irrigaLion sysLom insLaIIod. Tho 'Iko`
courso is ,,2uu yards and a ar ,2. Tho
'Babo` courso is 6,826 yards and ar ,1.
Tho IndusLry HiIIs GoIf CIub considors
iLsoIf a comIoLo dosLinaLion conforonco
& goIf rosorL` considoring Lho facL LhaL iL
incIudos a 22-room hoLoI, 4,uuu squaro
fooL of mooLing and ovonL saco, Lwo
rosLauranLs and a sa aIong wiLh a shorL
gamo aroa, four uLLing groons, a 64 sLaII
IighLod driving rango Ius, of courso, a ro
sho, goIf roIaLod amoniLios and Iockor
rooms. NoL surrisingIy, boLwoon Lhom
Lho Lwo coursos soo somo u,uuu rounds
of Iay a yoar.
Groons foos aL IndusLry HiIIs GoIf CIub
incIudo goIf carLs and aro aLLracLivo. Thoy
ask your hoLoI conciorgo. AL Lho HyaLL
Rogoncy ConLury PIaza, iLs Los CIofs
dÒr conciorgo, AIdon MiIikon roguIarIy
accommodaLos inLornaLionaI guosLs
oagor Lo goL in somo goIf buL aL a Ioss
as whoro Lo go.
Ono suggosLion ho makos is Lho ciLy`s
Rancho Park, which is Ioss Lhan fivo
minuLos away from his roorLy. BuL
for somoono sooking a moro oIoganL
soLLing, ho ofLon rocommonds Robinson
Ranch GoIf CIub. IL`s somo 2 miIos Lo
Lho norLh in Lho AngoIos NaLionaI IorosL
and foaLuros Lwo 18-hoIo coursos. Tho
conciorgo can, of courso, arrango for
LransorLaLion Lo any aroa courso.
Whon iL comos Lo a favouriLo ubIic LA
courso, Brian KoiLh, a financiaI consuILanL,
icks Rancho Park. IL`s cIoso in and raroIy
goLs Loo crowdod,` ho says.
In his work, ho comos in conLacL wiLh
visiLors Lo LA from Asia and Euroo
and, wiLhouL oxcoLion, Lho goIfors
among Lhom aro highIy imrossod wiLh
Rancho Park. Thoy aro so surrisod
aL how oxansivo Lho ark is, how woII
mainLainod Lho courso is and how officionL
Lho sLaff is in kooing Iayors moving
aIong.` WhiIo mosL aron`L LhaL concornod
abouL groons foos, Lhoy aro aIso Ioasod Lo
roaIiso how Iow Lhoy aro. SLiII, Iiko mosL
goIfors, KoiLh has ono comIainL: iL`s sLiII a
chaIIongo Lo broak 1uu.
The Palo Verde area is home to three of
LAs best and most scenic golf courses.
The $450-million Trump National Course
runs along a bluff.
Among the seven 18-hole courses owned and operated by the City of Los Angeles is
the Balboa Golf Course in the San Fernando Valley community of Encino.
rango from $u for Lho Babo courso and
$ for Lho Iko courso on Moga Monday
and $,u and $8u Tuosday Lhrough Iriday
wiLh a $4 Suor TwiIighL raLo afLor 4
m on u Lo wookond and hoIiday raLos
of $1uu and $1u rosocLivoIy. DiscounLs
for soniors ovor u yoars aro avaiIabIo
Monday Lo Thursday and non-mombors
may rosorvo Loo Limos u Lo sovon days in
advanco. Tho CIub ovon has Chinoso and
Koroan soaking ooraLors avaiIabIo Lo
Lako rosorvaLions.
?HKOBLBMHKLwanLing Lo goL in a fow
rounds during a Los AngoIos visiL buL
LoLaIIy unfamiIiar wiLh whaL coursos aro
avaiIabIo, IocaIs havo a suggosLion: jusL
67-73 Golf in LA.indd 73 10/19/11 3:45:53 PM
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74-78 Instagram.indd 74 10/19/11 3:47:52 PM
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STROLLING ARTISTS,
BEARING iPHONES

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iPhotography, which uses iPhones and apps to create
unique pictures, is growing rapidly and turning into an art
form, reports Todd Lappin.
A
M?BKLM@E:G<>%BMEHHD>=
Iiko anoLhor Lhrong of LourisLs
assing Lhrough San Irancisco`s
ChinaLown. YoL ono Lhing mado Lhis grou
sLand ouL: Evoryono was Laking icLuros, buL
no ono was using a LradiLionaI camora. No
hoavy DSLRs woighod down nock sLras. No
oinL-and-shooL camoras dangIod from wrisLs.
InsLoad, ovoryono carriod an iPhono and
snaod hoLos wiLh giddy onLhusiasm.
MosL woro San Irancisco rosidonLs who had
gaLhorod in ChinaLown on a warm SaLurday
morning Lo Lako arL in an 'InsLawaIk,` an
ad hoc gaLhoring of iPhono hoLograhy
onLhusiasLs who sharo Lhoir icLuros via
InsLagram, Lho ouIar iPhono hoLo sorvico]
sociaI noLwork LhaL has moro Lhan sovon
miIIion usors.
Tho Lours aro Iod by Brian RoborLs, boLLor
known Lo his InsLagram fans as DocLor
PouIar. WiLh hoI from Lho InsLagram a,
DocLor PouIar`s romarkabIo hoLograhs
havo quickIy osLabIishod him as an innovaLor
who usos Lho iPhono as a oworfuI LooI for
croaLivo oxrossion, raLhor Lhan as a ockoL-
sizo IayLhing.
Tho mosL imorLanL arL of Lho Lours ho
organisos occurs afLorward, whon arLicianLs
gaLhor aL a ChinaLown ub Lo roviow Lho
hoLos. Havo you Lriod Lho SynLhcam a?`
askod DocLor PouIar, 34, a communiLy
managor aL PosLagram, an iPhono a
dovoIoor. IL was mado by a bunch of
SLanford rofossors. IL`s groaL for croaLing
shaIIow doLh of fioId.` ThaL soLs off a froo-
for-aII discussion comaring Lho bosL as for
odiLing hoLos on Lho hono.
Thoro`s a now arL form omorging,` ho said
IaLor in an inLorviow. I usod Lo roacL badIy
whon ooIo wouId caII iL 'iPhoLograhy,`
bocauso LhaL soomod Loo conLrivod. YoL moro
and moro, I fooI LhaL Lhis Lyo of hoLograhy
is roaIIy iLs own Lhing.`
Tho growLh of iPhoLograhy has boon
fuoIIod by Lho Lhousands of inoxonsivo
hoLograhy as offorod on AIo`s A
SLoro. Android sLoros aIso havo hoLo as.
A dovoIoors havo roIoasod an imrossivo
array of LooIs LhaL can do basic roLouching
Lasks Iiko onhancing brighLnoss, cIariLy and
conLrasL, or sLrangor Lricks Iiko morging
imagos or doconsLrucLing a hoLo inLo
aLLorns and coIours. PorcoIaLor, ($1.),
for insLanco, convorLs imagos inLo coIourfuI
mosaics LhaL Iook aImosL Iiko sLainod gIass.
AnoLhor a, caIIod InLorIacor ($u.) Lhroads
Lwo imagos LogoLhor, Iino by Iino, Lo croaLo
imagos LhaL aoar as if Lhoy woro disIayod
on a vinLago coIour LoIovision in nood of roair.
AmaLour iPhoLograhy ovangoIisLs Iiko
DocLor PouIar havo channoIIod Lhoir
onLhusiasm for such as inLo ovonLs
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bring ouL moro of a cross socLion of
AusLin. Thoy aro moro sociaI, and somo
ooIo ovon bring Lhoir kids.`
Tyson WhoaLIoy, an Amorican nows
odiLor who Iivos in Hong Kong and has
organisod sovoraI hoLo waIks Lhoro, said,
IL`s abouL having fun and Laking hoLos.
Wo Lry Lo ick soLs whoro a Iargo grou
can oxIoro aL Ioisuro and hoofuIIy noL
goL IosL,` ho said. Thoro`s no curricuIum,
buL Lho convorsaLion is usuaIIy dominaLod
by Lis, LacLics and favouriLo a. Wo
aIways ond wiLh dinnor or drinks.`
LBFBE:KER%LH<B:E noLworking
combinod wiLh somo hoLo fiILors and
imago-onhancomonL LooIs mako iL oasy
Lo sharo smarLhono hoLograhs. SociaI
hoLo-sharing aIso has a viraI offocL by
oxosing a wido rango of ooIo Lo Lho
kinds of imagos LhaL can bo croaLod using
noLhing moro Lhan Lho iPhono many
aIroady havo in Lhoir ockoLs.
Ior somo smarLhono usors, Lho 'Aha!`
momonL comos whon Lhoy roaIiso Lho
dovico can do moro Lhan jusL caLuro
crudo snashoLs of caLs or icLuros of
dinnor. Tho big shifL haons whon you
go from using Lho camora Lo documonL
daiIy Iifo Lo Lhinking of iL as a LooI for
hoLograhy,` DocLor PouIar said.
His oihany occurrod whon ho bogan
odiLing hoLos on his iPhono Lo ass Lho
Limo during an hour-Iong ubIic Lrain
commuLo boLwoon San Irancisco and
SiIicon VaIIoy, whoro ho was a vidoo
gamo dosignor. WhiIo oxorimonLing
wiLh dozons of hoLo as, ho dovoIood
his signaLuro aroach Lo iPhono
hoLograhy: InsLoad of jusL odiLing
an imago wiLh ono a, ho ofLon runs
LhaL oncourago boginnor and voLoran
hoLograhors Lo comaro noLos, sharo
Lochniquos and sociaIiso whiIo Laking
icLuros. Ad hoc iPhono hoLo waIks,
ubIicisod using TwiLLor, Iacobook, bIogs
and InsLagram, havo Lakon Iaco in Hong
Kong, Now York, SoaLLIo and AusLin,
Toxas, among oLhor Iacos.
AIox Suaroz, an informaLion LochnoIogy
Lochnician in AusLin, has Iod hoLo waIks
for LradiLionaI hoLograhors for yoars,
buL afLor organising his firsL iPhoLograhy
waIk in JuIy, ho noLicod LhaL iL aLLracLod a
vory difforonL crowd.
RoguIar hoLo waIks Lond Lo bo
sorious,` Suaroz said. BuL iPhono waIks
For some smartphone users, the Aha! moment
comes when they realise the device can do more
than just capture crude snapshots of cats or pictures
of dinner. The big shift happens when you go from
using the camera to document daily life to thinking
of it as a tool for photography.
Brian Roberts, aka Doctor Popular, takes a picture using his iPhone during an Instawalk tour. The tour is an ad hoc gathering of
iPhone photography enthusiasts who share their pictures via Instagram, the popular iPhone photo service/social network that has
more than seven million users.
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Iiko sociaIisod Ionsos, fiILors and IighLing.
Throw in a orsonaI comuLor and
shrink-wraod imago odiLing sofLwaro
LhaL can cosL woII ovor $6uu, and DSLR
hoLograhy quickIy bocomos a vory
oxonsivo hobby.
Tho iPhono, by conLrasL, is a IovoI
and affordabIo Iaying fioId for asiring
hoLograhors bocauso ovoryono
sLarLs wiLh Lho samo dovico and mosL
hoLograhy as cosL jusL a doIIar or Lwo.
Of courso, LhaL aIso soLs u iPhoLograhy
for Lho criLicism LhaL iL is noL hoLograhy
aL aII buL ossonLiaIIy Iiko a vidoo gamo.
DocLor PouIar brushod LhaL criLiquo off.
Iivo yoars ago, you ofLon hoard
ooIo say LhaL digiLaI hoLograhy
wasn`L roaIIy arL,` ho said. Thoro wiII
aIways bo roacLion couIod wiLh cycIos of
LradiLionaIism and rovivaI.`
iL Lhrough sovoraI as, ono afLor Lho
oLhor, in a socific soquonco. His rocoss
gonoraLos unusuaI hoLograhs LhaL
boLray IiLLIo ovidonco LhaL Lhoy woro
croaLod onLiroIy on a mobiIo hono.
In ono roconL imago, ho Look Lwo
icLuros of Lho high-riso skyIino of
downLown San Irancisco. Ho Lhon usod
Lho Docim8 a ($u.) Lo broak u Lho
aLLorn of Lho imagos, and Lho SLrioCam
a ($u.) Lo onhanco Lho vorLicaI Iinos
of Lho buiIdings. IinaIIy, ho usod Lho
TruoHDR a ($u.) Lo combino Lho Lwo
imagos and croaLo a 'ghosLing` offocL.
This soriaI-odiLing Lochniquo was a
naLuraI oxLonsion of his oxorionco wiLh
yo-yos, DocLor PouIar said. Ho has usod
Lho samo soudonym for yoars as a worId-
rankod yo-yo masLor. I Londod Lo soo
as as a sorios of Lricks LhaL you sLring
LogoLhor Lo croaLo a combinaLion,` ho
oxIainod. Ho ofLon incIudos roducLion
noLos wiLh his hoLos on InsLagram as
guidanco for fans and wouId-bo imiLaLors.
ShoL wiLh Lho roguIar camora a,
Lhon run Lhrough Docim8, Lhon morgod
wiLhTruoHDR,` is a LyicaI oxamIo.
LN<A:II rocommondaLions aro
invaIuabIo, bocauso in a aradoxicaI way
Lho oxonsivo iPhono, which sLarLs aL
$1 (wiLh a Lwo-yoar wiroIoss conLracL),
is a vory ogaIiLarian hoLograhy dovico.
WiLh LradiLionaI camoras, advancod
Lochniquos ofLon roquiro oxonsivo goar
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Instead of just editing an image with one app, he
often runs it through several apps, one after the
other, in a specific sequence. His process generates
unusual photographs that betray little evidence that
they were created entirely on a mobile phone.
74-78 Instagram.indd 78 10/21/11 11:21:14 AM
DUBAI UAE

WAFI CITY, +971 4 3244223 DUBAI MALL, +971 4 4341406
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A NEW
DIRECTION

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Chef Thierry Marx is
always keen to take on
new challenges. At the
newly-opened Sur Mesure
restaurant he is aiming to
extend the boundaries of
French cooking, reports
Scott Adams.
T
A:GDLMHABLK>LI><M?HK
Asian cuisino, combinod wiLh his Ironch
rooLs and mounLing inLornaLionaI famo,
iL is no wondor LhaL Lho Mandarin OrionLaI HoLoI
Grou had Thiorry Marx firmIy in iLs sighLs whon
Iooking for a chof Lo hoad Lho kiLchon and Lho
fino dining rosLauranL Sur Mosuro aL Lhoir nowIy-
oonod Paris hoLoI on Ruo SainL Honor.
Tho aoinLmonL camo dirocLIy from
Edouard ELLodgui - grou chiof oxocuLivo of Lho
inLornaLionaI hoLoI grou LhaL has iLs hoadquarLors
in Hong Kong. NoLhing aL Mandarin OrionLaI
haons by chanco,` says GiIIos Humoau, vico
rosidonL of saIos for SouLhorn Euroo. Chof
Thiorry was choson socificaIIy for Sur Mosuro
bocauso of his innovaLivo Ironch cuisino combinod
wiLh a Iovo of Lho cuILuraI and gasLronomic vaIuos
of Asia, which aro a cornor sLono of Mandarin
OrionLaI`s manifosLo.`
Chof Thiorry had IiLLIo hosiLaLion in making Lho
movo Lo Paris and soL u a kiLchon. I`vo known
Lho Mandarin OrionLaI brand for many yoars, buL
I am arLicuIarIy famiIiar wiLh Lho hoLoIs in Hong
Kong and Bangkok,` ho says as wo siL in Lho Iush
gardon of Lho hoLoI`s conLraI courLyard jusL moLros
from Sur Mosuro. WhaL has aIways doIighLod
and insirod mo during my sLays in any of Lho
Mandarin OrionLaI hoLoIs is Lho human aroach
Lhoy havo. PooIo aro LroaLod as ooIo and Lhoro
is a groaL doaI of rosocL for oach individuaI.`
Asian vaIuos aro imorLanL Lo Chof Thiorry.
As a racLicing BuddhisL ho visiLs a monasLory
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Lo Lho norLh of KyoLo in Jaan oach yoar.
Buddhism has infIuoncod my cooking
in subLIo buL imorLanL ways. I now Iook
moro Lo naLuro and havo groaLor rosocL
for Lho ingrodionLs I uso,` ho oxIains. I
havo an incroasod sonso of soIf-awaronoss
which aIIows mo Lo inLorroL my dishos
in a 'cIoanor` way`.` Whon ho`s noL in
Lho kiLchon, chof aIso Iooks Lo Asia for
roIaxaLion. I`vo boon racLicing Kondo
and Judo for many yoars now,` ho rovoaIs.
Thoso Lwo Jaanoso marLiaI arLs rovido
mo wiLh a sourco of siriLuaI oaco and
inLornaI baIanco.`
NoLwiLhsLanding chof `s oisod and
LranquiI oxLorior, Lhoro is a bubbIing
cauIdron of croaLiviLy insido him. AL
aImosL u, and wiLh ruggod good Iooks
- many ooIo say LhaL ho couId bo a
IookaIiko for Amorican acLor Bruco WiIIis
- ho has bocomo ono of Lho Lo chofs in
Iranco and has boon givon Lho monikor
of 'Tho GaIIic HosLon BIumonLhaI` duo
Lo his inLorosL in, whaL Lho ross Iovos Lo
doscribo as, MoIocuIar GasLronomy.
I havo a groaL doaI of rosocL and
admiraLion for HosLon BIumonLhaI. Ho
is a groaL chof and vory oon mindod,`
ho admiLs whon askod abouL Lho EngIish
chof who oonod Dinnor by HosLon
BIumonLhaI in Lho Mandarin OrionLaI
in London oarIior Lhis yoar. His succoss
comos from his rosocL for boLh modorn
and cIassic cooking sLyIos and ho finds no
confIicL boLwoon Lhom, or in combining
Lho Lwo,` ho adds omhaLicaIIy. Chof
Thiorry sharos Lhis samo hiIosohy and
boIiovos LhaL kooing an oon mind whon
cooking is aramounL. QuoLing ono of
Iranco`s groaLosL chofs, PauI Bocuso II
n`ya quùno souIo cuisino, Ia bonno` (Thoro
is onIy ono sLyIo of cooking, Lho good ono)
ho roiLoraLos Lho imorLanco of fIoxibiIiLy
in cooking and unrojudicod idoaIs whon
iL comos Lo croaLing now dishos.
PA>GJN>LMBHG>= abouL his
arLiciaLion in Lho MoIocuIar GasLronomy
movomonL, ho is quick Lo oinL ouL LhaL
no chof has ovor signod a MoIocuIar
GasLronomy monu. I don`L Iiko Lhis Lorm
or Lho markoLing nonsonso LhaL Lho ross
has invonLod,` ho oxIains. Cooking is
moIocuIar, jusL Lho samo as ovoryLhing oIso
in Lhis worId.` Howovor Chof Thiorry has
choson Lo caII his smaII rosoarch kiLchon
in PauiIIac a 'IaboraLory` and now has a
'foodIab` in Ruo BouIoi in Paris. Thoso Lwo
conLros aro whoro my Loam and I work on
roducL comosiLion, cooking honomona
and Iay wiLh food LoxLuros,` ho divuIgos.
Ho has aIso soughL Lho oxorL advico of
hysicisL RahaoI HaumonL Lo hoI him
undorsLand how Lho Iaws of hysics and
scionco can onhanco whaL goos on in Lho
kiLchon and is rosonLod on Lho IaLo.
IL`s boon a Iong road for Lhis gIoboLroLLing
chof Lo arrivo in Lho Ironch caiLaI and soL
u a rosLauranL boaring his signaLuro. His
journoy has Lakon him Lhrough Hong Kong,
Singaoro, ThaiIand, Jaan, AusLraIia and
Lho Bordoaux rogion whoro ho was roconLIy
chof aL Lho Lwo MichoIin sLarrod rosLauranL
in Lho ChaLoau CordoiIIan-Bagos.
My LravoIs around Lho worId havo givon
mo groaL insiraLion Lo croaLo 'IanoLary
Chef Thierry made sure that Sur
Mesures dining room is a totally
white space to create an oasis
of calm without a notion of time.
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wanLod Lo bo arL of LhaL worId,` ho rocaIIs.
Chof Thiorry wonL on Lo sLudy broad and
asLry making boforo moving inLo Lho
kiLchons of Lho famod rosLauranLs Lodoyon,
Jamin, TaiIIovonL and AIain ChaoI. Ho
roso u Lhrough Lho ranks Lo Chof do
Cuisino and his work was firsL rocognisod
wiLh a MichoIin sLar in 188 aL VaI Roc
in Tours. AfLor moving Lo ChovaI BIanc
in Nimos ho achiovod anoLhor sLar. Onco
again on Lho movo, ho soL u a kiLchon in
CordoiIIan Bagos jusL a shorL drivo from
Bordoaux. His firsL sLar Lhoro camo in
16 and Lho socond in 2uuu, which ho
mainLainod unLiI ho IofL for Paris Lhis yoar.
Whon askod if Sur Mosuro wiII aIso
bo garIandod wiLh a sLar, chof is quick
Lo oinL ouL Lho obsLacIos ho facos. Wo
havo Lo convinco Lho vory domanding
Parisian cIionLoIo,` ho oxIains. Thoro
is aIroady a hugo offoring of MichoIin
sLarrod rosLauranLs in Paris, and iL`s
imorLanL LhaL wo find our own ubIic
and Iaco in Lho ciLy.` Chof Thiorry hoos
Lo aLLracL Lho advonLurous gourmoL who
is wiIIing Lo oxorimonL and discovor
Sur Mesure offers a choice of set menus with either five or nine dishes. Each menu has a carefully planned flavour and text progression.
cooking`,` ho says. Evory cuILuro and
counLry has somoLhing Lo offor a good
cook. You jusL havo Lo oon your oyos
and oars and Lako noLico.` His fascinaLion
wiLh Lho oxoLic is noLhing now. As a chiId,
Iiving in Paris in Lho IaLo 16us, ho was
inLroducod Lo a vasL rango of cuIinary
sonsaLions. I grow u in BoIIoviIIo, a
working cIass aroa of norLh-oasL Paris,`
ho says. On my way homo from schooI
I`d waIk asL, and inoviLabIy Iingor, noar
Lho Tunisian kobab shos and Lho Thai
rosLauranLs LhaL Iinod Lho sLrooL, ausing
Lo broaLho in Lho oxoLic aromas.`
<A>?MAB>KKR aIso romombors how
Lho Parisian bakor, Bornard Ganachaud,
insirod him Lo goL invoIvod in cooking.
I usod Lo waIk asL his bakory ovory day
wiLh such yoarning. Tho smoIIs from Lho
ovons soomod Lo onoLraLo my mind and I
We have to convince the very demanding Parisian
clientele, he explains. There is already a huge
offering of Michelin starred restaurants in Paris, and
its important that we find our own public and place
in the city.
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Telepresence 27 x 20.6 cm.pdf 1 10/20/2011 2:10:30 PM
Portfolio
CMYK
84
Essentials
Cuisine
roundod oxorionco whoro Lho fIavour and
LoxLuro rogrossion is carofuIIy LhoughL
ouL for maximum Ioasuro.`
Among Lho many cuIinary doIighLs
is ono of Chof Thiorry`s cIassic dishos,
Lho RisoLLo do Soya. I adoro soy boans,
bocauso, aradoxicaIIy, iLs nouLraI LasLo
aIIows for innovaLion,` ho oxIains. In my
soy boan risoLLo, Lho wondorfuI LoxLuro
comos from Lho soy boan, buL Lho fIavours
of Lho oysLor juico and LruffIo, which I add,
aro acconLuaLod.` Thoso Iooking Lo Lry a
LoLaIIy now dish shouId ordor Lho Oouf
cIaL, a IayfuI ogg dish. WhaL Iooks Iiko
friod ogg has boon in facL bakod sIowIy
aL rocisoIy 62C Lo achiovo a sofL voIvoLy
LoxLuro and gIossy oxLorior.
Thiorry Marx and his now rosLauranL in
Paris aro boLh rovoIuLionary. His incossanL
soarch for now cuIinary oxorioncos
and abiIiLy Lo succossfuIIy oxLond Lho
boundarios of Ironch cooking mako Sur
Mosuro an ossonLiaI orL of caII for Lhoso
who aro koon Lo soo in which dirocLion
modorn Ironch cooking is hoading.
The choices I have
made provide a
rounded experience
where the flavour and
texture progression is
carefully thought out
for maximum pleasure.
innovaLivo cooking Lhrough avanL-
gardo LoxLuros and LomoraLuros and
whoro Lho confIicL boLwoon LradiLion
and innovaLion aro non-oxisLonL.`
LNKF>LNK> is osiLionod discroLoIy
off Lho bar aroa on Lho ground fIoor of Lho
Iuxurious, conLomorary-sLyIod Mandarin
OrionLaI hoLoI, and rovidos maximum
rivacy for Lho 4u riviIogod dinors. I
wanLod a LoLaIIy whiLo saco for Lho dining
room, ono which is dominaLod by caIm
and whoro Lhoro is no noLion of Limo,`
oxIains chof. Tho inLorior is Lho work
of PaLrick Jouin and SanjiL Manku who
croaLod gonLIo curvos and LoxLuros using
foIdod, Iayorod and cuL cIoLh on Lho waIIs
Lo docoraLo ono of Paris` mosL boauLifuI
conLomorary dining rooms.
AL Sur Mosuro Chof Thiorry offors
Lho dinor a choico of soL monus wiLh
oiLhor fivo or nino dishos ricod aL t,
and t18u. I wanLod ooIo Lo bo abIo Lo
LasLo a soIocLion of my work,` ho oxIains.
And Lho choicos I havo mado rovido a
The newly-opened
Mandarin Oriental Hotel
in Paris is situated at a
prime location on Rue
St Honor.
Innovation is key at Sur Mesure. Here
veal is served between toasted bread and
accompanied by green apple fritters.
Chef Thierry was awarded his first Michelin
star in 1988 at Roc en Val in Tours, and
another at Cheval Blanc in Nmes in 1991.
At Chteau Cordeillan-Bages he held two
Michelin stars since 1999.
A R A C I N G M A C H I N E O N T H E W R I S T
www.richardmille.com
CALIBER RM 028
DIVERS WATCH
Automatic winding movement
Adjustable rotor geometry
Power reserve 55 h
Bottom plate, bridges & balance cock made of titanium
Double barrel system
Eight-point-star-shaped torque and spline screws
in grade 5 titanium for the bridges and case
Date display at 7 oclock
Unique tripartite case
Bezel turning unidirectionally following ISO 6425 norm
Interior flanges in carbon fiber
Water resistant to 300 meters
Available in titanium with screwed titanium lugs
and a rubber strap
Portfolio
CMYK
86
Essentials
Science
DAREDEVILS
WITH DEEP AMBITIONS

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daredeviIs is seeking lo Iunge
lhrough nearIy 11 kiIomelres
of seawaler lo lhe bollom of a rocky
chasm in lhe weslern Pacific lhal is
veiIed in ereluaI darkness. Il is lhe
ocean`s deeesl sol. The forbidding
Iace, known as lhe ChaIIenger Dee, is
so far removed from lhe warming rays
of lhe sun lhal ils lemeralure hovers
near freezing.
When I was a kid, I Ioved nol onIy
amazing ocean exIoralion bul sace,
loo, James Cameron, lhe direclor of
:oZmZk, MbmZgb\ and Ma^:[rll, said in
an inlerview. I can lhink of no grealer
fanlasy lhan lo be an exIorer and see
whal no human eye has seen before.
The wouId-be exIorers can afford
lo Iive lheir dreams because of
lheir exlraordinariIy dee ockels.
SignificanlIy, lheir ambilions far
exceed lhose of lhe worId`s seafaring
nalions, which have no Ians lo send
eoIe so dee.
The biIIionaires and miIIionaires
incIude Cameron, airIine moguI
Richard Branson and inlernel guru Eric
Schmidl. Each is buiIding, Ianning lo
buiId or financing lhe conslruclion of
minisubmarines meanl lo lransorl lhem,
lheir friends and scienlisls inlo lhe delhs.
Enlrereneurs laIk of laking lourisls
down as weII. The vehicIes, meanl lo hoId
one lo lhree eoIe, are eslimaled lo cosl
anywhere from $, miIIion lo $4u miIIion.
The firsl dive is scheduIed for Ialer
lhis year. Since secrecy and lechnicaI
uncerlainly surround many of lhe
venlures, oceanograhers say lhe
scheduIes may weII change.
The rush is haening now in arl
because of advances in maleriaIs, balleries
and eIeclronics, which are Iowering
lhe cosl and raising lhe caabiIilies of
submersibIes. SliII, lhe chaIIenges are
formidabIe. Hardesl lo buiId are lhe crew
comarlmenls, whose waIIs musl be very
lhick, slrong and reciseIy manufaclured
lo wilhsland lonnes of crushing ressure.
Designers are using nol onIy lradilionaI
sleeI bul such unexecled maleriaIs as
sheres of ressure-resislanl gIass.
Humans have Iaid eyes on lhe
ChaIIenger Dee jusl once, haIf a cenlury
ago, in a US Navy vesseI. A window
cracked on lhe way down. The Ianding on
lhe bollom slirred u so much ooze lhal
lhe lwo divers couId see IillIe and look no
iclures. They slayed jusl 2u minules.
Iorays lo Iesser delhs have
muIliIied. Since lhe discovery of lhe
MbmZgb\ al lhe bollom of lhe Norlh
AlIanlic in 18, hundreds of exIorers,
lourisls and moviemakers (incIuding
Cameron) have visiled lhe worId`s mosl
famous shiwreck. Il Iies more lhan
3.21 kiIomelres down.
The ChaIIenger Dee and simiIar
recesses are arl of a vasl syslem of
seabed lrenches lhal crisscross lhe
gIobe. The deeesl are found in lhe
weslern Pacific. Over lhe decades,
bioIogisls have gIimsed lheir
inhabilanls by Iowering dredges on
Iong Iines. U have come lhousands of
bizarre-Iooking worms, cruslaceans and
sea cucumbers. More recenlIy, undersea
We know less about the oceans deep trenches than we do about the moon. That is
set to change as wealthy entrepreneurs fund new expeditions to plumb the ocean
depths, reports William Broad.
86-89 Challenger Deep.indd 86 10/19/11 3:49:57 PM
November 2011
87
CMYK
Chris Welsh (left) and Richard
Branson at the Virgin Media Group
announcement at the Newport
Harbour Yacht Club in California.
Welsh will pilot the submersible
during the attempt to reach the
bottom of the Challenger Deep.
Graham Hawkes is a veteran designer and
maker of undersea vehicles. His winged
craft is financed by Richard Branson and
is scheduled for tests later this year.
roboLs havo fiImod swarms of ooIs and
ghosLIy fish, Lhoir LaiIs Iong and sinuous.
In oarIy AriI, Branson hoId a nows
conforonco in NoworL Boach, CaIifornia,
Lo unvoiI his submorsibIo. Tho IasL groaL
chaIIongo for humans,` said Branson, Lho
foundor of Virgin ALIanLic and Virgin
GaIacLic, is Lo oxIoro Lho doLhs of our
IanoL`s ocoans.`
His soIo crafL, noarIy . moLros Iong,
Iookod Iiko a whiLo-and-bIuo airIano wiLh
sLubby wings and a cockiL. Tho curvo of
Lho wings is moanL Lo drivo Lho vohicIo
downward as iL soods Lhrough Lho waLor,
raLhor Lhan uward, as wiLh an airIano.
Graham Hawkos, Lho crafL`s dosignor
and a voLoran makor of undorsoa
vohicIos, said in an inLorviow LhaL moro
consorvaLivo dosigns woro ossibIo buL
LhaL his goaI was Lo advanco Lho sLaLo of
Lho arL.` Tho wingod crafL and iLs moLhor
shi cosL an osLimaLod $1, miIIion. Tho
submorsibIo is schoduIod Lo Iungo doo
Lhis yoar, iLs iIoL a coIIoaguo of Branson.
:?>Pwooks IaLor, in IaLo AriI, anoLhor
Loam wonL ubIic. IL unvoiIod Ians,
raLhor Lhan a noarIy comIoLo vohicIo. Tho
comany, TriLon Submarinos, basod in Voro
Boach, IIorida, makos Liny submorsibIos
wiLh acryIic orsonnoI shoros LhaL
carry Lwo ooIo down moro Lhan haIf
a kiIomoLro or moro. Tho cIoar shoros
rovido much boLLor viowing Lhan Lho Liny
orLhoIos of LradiLionaI submorsibIos.
Tho comany announcod LhaL iL was
roady Lo buiId a submorsibIo Lo carry Lhroo
ooIo inLo Lho ChaIIongor Doo. Tho
vohicIo`s orsonnoI shoro - 2.28 moLros
in diamoLor - wouId bo mado onLiroIy of
gIass and oon Iiko a cIamshoII Lo admiL
assongors. GIass mighL soom fragiIo. BuL
as rossuros riso, said L. Bruco Jonos, Lho
comany`s chiof oxocuLivo, iL goLs sLrongor.`
Ho said Lwo ooIo - a biIIionairo and a
noar biIIionairo - woro LaIking soaraLoIy
abouL buying ono or Lwo of Lho crafL, oach
cosLing $1 miIIion.
A comany brochuro says invosLors can
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Essentials
Science
shoro was jusL 1.2 moLors wido and wouId
accommodaLo jusL ono orson.
Tho shoro undorwonL a succossfuI
rossuro LosL in SoLombor 2uu,
Camoron said. Ho said his Loam had
ovorcomo major robIoms wiLh foam
moanL Lo buoy Lho hoavy shoro: EarIy
foam crumbIod undor rossuro LosLs,
LhroaLoning Lo rob Lho submorsibIo of
88
buoyancy and maroon iL on Lho boLLom.
IL`s noL Iiko you can caII u AA Lo como
goL you,` ho said.
Tho Loam is buiIding camoras for 3-D
fiIming, Camoron said. DosiLo roorLs
LhaL Lho vohicIo mighL bo invoIvod in an
ocoanic soquoI Lo :oZmZk, ho insisLod LhaL
Lho doo crafL had noLhing Lo do wiLh my
foaLuro Iifo` - Lhough a documonLary or
oxocL Lo chargo $2u,uuu a soaL for Lours
of Lho ChaIIongor Doo.
Camoron, Lho makor of HoIIywood
bIockbusLors, has koL a Iow rofiIo and
basod his offorL in AusLraIia. AbouL fivo
yoars ago, ho formod a Loam LhaL has
boon quioLIy buiIding a submorsibIo
aIong LradiLionaI Iinos, onIy smaIIor. In
an inLorviow, ho said iLs sLooI orsonnoI
November 2011
89
CMYK
financod Lho dovoIomonL of an advancod
submorsibIo dosignod by Doo Ocoan
ExIoraLion and Rosoarch, a comany on
AIamoda IsIand in San Irancisco Bay. ILs
foundor, SyIvia EarIo, is an ocoanograhor
and a formor chiof scionLisL of Lho
NaLionaI Ocoanic and ALmoshoric
AdminisLraLion. Wo woro roud Lo hoI
hor Iaunch Lho rojocL,` ho said. Now
LochnoIogios aro noodod Lo oxIoro, ma,
moasuro and roorL on Lho ocoans and
marino Iifo.` Tho advancos, ho addod, wiII
hoI ovoryono and ovoryLhing on oarLh.`
Tho crafL, Doosoarch, is Iargo and
sIook by submorsibIo sLandards. IL
Iooks Iiko a fish or a Lorodo. HoIding
u Lo Lhroo ooIo, iL wouId Iungo 11
kiIomoLros in IiLLIo moro Lhan an hour.
ILs orsonnoI shoro, Iiko LhaL of Lho
TriLon modoI, is Lo bo mado of gIass for
boLLor viowing.
Tho goaI,` says a comany wobsiLo, is
noL a sLunL divo` Lo Lho ChaIIongor Doo
buL a worId assoL caabIo of roviding
scionLisLs wiLh unIimiLod accoss Lo Lho
doo ocoan.`
addod, ho and his Loam wiII divo in Lho
wosLorn Pacific 12 Lo 1 Limos. Tho goaI
is Lo Iumb noL onIy Lho ChaIIongor
Doo buL aIso Lho Tonga and Kormadoc
Tronchos, which Iio norLh of Now ZoaIand.
Tho fiImmakor addod LhaL ho was LaIking
Lo ocoanic insLiLuLos abouL dovoIoing
Iong-Lorm roIaLionshis for uso of Lho
submorsibIo. Wo`vo goLLon a roLLy
rosounding rosonso from Lho scionco
communiLy,` ho said, bocauso Lhoy havo
such IimiLod funding and accoss Lo
Lhoso doo onvironmonLs.`
I>KA:ILMA> IoasL visibIo of
Lho onLroronours is SchmidL,
Lho oxocuLivo chairman of
GoogIo - and Lho foundor of
Lho SchmidL Ocoan InsLiLuLo
and Lho SchmidL Rosoarch
VossoI IoundaLion.
Tho insLiLuLo`s Lwo
ocoangoing shis aro
quiLo Iargo, ,, and 83
moLros Iong.
SchmidL has aIso
Lwo mighL bo forLhcoming. Tho onIy Lhing
iL has Lo do wiLh AvaLar,` ho said of Lho
vohicIo, is LhaL iL`s sIowing mo down.` Ho
said Lho crafL cosL $, miIIion Lo $8 miIIion,
and LhaL charLoring a moLhor shi for Lho
oxodiLion wouId run from $3u,uuu Lo
$4u,uuu a day.
Camoron said LosL divos woro schoduIod
for oarIy noxL yoar. NoxL summor, ho
Triton
Submarines
is building a
$15 million
submersible
that can seat
two people.
James Cameron is also financing an attempt to reach the bottom of the Challenger Deep. Cameron made extensive use of
submersibles while filming the wreck of the Titanic at 3,800 metres depth.
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CMYK
90
Essentials
Environment
URBAN EVOLUTION

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Jason Munshi-South, a field biologist and assistant professor at Baruch College, checks
a trap that was set in New Yorks Highbridge Park for white-footed deer mouse.
Most evolutionary scientists travel to exotic places such as the Amazon to do research.
But an increasing number are focusing on cities with some startling findings, reports
Carl Zimmer.
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90-92 NY Evolution 3-pages.indd 90 10/20/11 3:58:44 PM
November 2011
CMYK
Essentials
Environment
New Yorks isolated parks
are home to some unique
evolutionary adaptations.
aLchos of woods. (Houso mico, which
Now Yorkors baLLIo in Lhoir aarLmonLs,
arrivod wiLh Eurooan soLLIors.) Rosoarch
by Munshi-SouLh and his coIIoaguos
suggosLs LhaL Now York`s whiLo-fooLod
mico, which occuy isoIaLod aLchos, aro
adaLing Lo Iifo in Lho ciLy.
Whon Munshi-SouLh oonod Lho finaI
Lra, Lho sovonLh mouso had run ouL of
aLionco. IL shoL ouL of iLs box and racod
off inLo Lho brush. Cocco shruggod. Thoy
aro Now Yorkors, afLor aII,` ho said.
>OHENMBHGBL ono of Iifo`s consLanLs.
Now socios omorgo; oId onos bocomo
oxLincL. EnvironmonLaI changos havo
ofLon sLoorod ovoIuLion in now dirocLions.
And modorn ciLios Iiko Now York havo
broughL arLicuIarIy swifL changos Lo Lho
onvironmonL. Eurooan soLLIors cuL down
mosL of Now York`s originaI forosL; Lowns
grow and Lhon morgod inLo a srawIing
moLrooIiLan rogion. Tho chomicaI
onvironmonL changod as woII, as facLorios
dumod chomicaI oIIuLion inLo Lho
waLor and soiI.
PoIIuLion has drivon somo of Lho sLarkosL
oxamIos of ovoIuLion around Now York.
Hudson Rivor fish facod a dangorous
LhroaL from PCBs, which GonoraI EIocLric
roIoasod from 14, Lo 1,,. PCBs causo
doformiLios in fish Iarvao.
Thoso aro imorLanL changos,` said
Isaac Wirgin of Now York UnivorsiLy
ModicaI ConLro. If you`ro missing your
jaw, you`ro noL going Lo bo abIo Lo oaL.`
Wirgin and his coIIoaguos woro
inLriguod Lo discovor LhaL Lho Hudson`s
ouIaLion of Lomcod, a boLLom-dwoIIing
fish, Lurnod ouL Lo bo rosisLanL Lo PCBs.
In March, ho and his coIIoaguos roorLod
LhaL aImosL aII Lho Lomcod in Lho Hudson
sharo Lho samo muLaLion in a gono
caIIod AHR2. PCBs musL firsL bind Lo
Lho roLoin oncodod by AHR2 Lo causo
damago. Tho Hudson Rivor muLaLion
makos iL difficuIL for PCBs Lo grab onLo
Lho rocoLor, shioIding Lho fish from Lho
chomicaI`s harm.
Tho AHR2 muLaLion is onLiroIy missing
from Lomcod LhaL Iivo in norLhorn Now
EngIand and Canada. A smaII orconLago
of Lomcod in Long IsIand and ConnocLicuL
carry Lho muLaLion. Wirgin and his
coIIoaguos concIudod LhaL onco PCBs
onLorod Lho Hudson, Lho muLanL gono
sroad quickIy. Whon Lhoso chomicaIs
firsL sLarLod goLLing roIoasod, if you had
Lho normaI form of Lho gono, you robabIy
woron`L going Lo mako iL,` Wirgin said.
Today, scionLisLs can scan Lho onLiro
gonomos of Now York`s animaIs and
IanLs Lo Iook for ovoIuLionary changos.
In Juno, Harris rosonLod now daLa on
whiLo-fooLod mico aL Lho annuaI mooLing
Highbridge Park
Brooklyn
Botanic
Garden
Broadway
N.J.
MANHATTAN
BRONX
BROOKLYN
QUEENS
Central
Park
H
u
d
s
o
n

R
i
v
e
r
THE NEWYORK TIMES
N.J.
N.Y.C.
Foundry Cove
Harriman
State Park
Jamaica Bay
N.Y.
1 mile 20 miles
N.Y. Times News Service
Date: 08/02/11
Graphic Slug: EVOLUTION ZIMMER NSPR
Size: 2.2 X 3.1
With Story: (BC-EVOLUTION-ZIMMER-NSPR-NYT)
The New York Times
91
Portfolio
CMYK
92
Essentials
Environment
of a Jaanoso maIo. Now ono! Now ono!`
Dunn shouLod ovor Lho Lraffic.
Ho and Danoff-Burg woro survoying
Lho modian for socios of anLs. Dunn
had soLLod <k^fZmh`Zlm^kebg^heZmZ,
an anL socios LhaL ho and Danoff-
Burg had novor found boforo in
Lhis arLicuIar urban habiLaL.
Danoff-Burg, Dunn and Lhoir coIIoaguos
choso Lo sLudy Lho modians of Broadway
Lo soo how human acLiviLy aILors
biodivorsiLy. In Lhis arLificiaI ciLy, Lhoro is
no onvironmonL moro arLificiaI Lhan Lhoso
modians, which siL on fiII LhaL was ourod
on Lo of subway LunnoIs. Tho scionLisLs
havo found a bIond of anL socios, somo
LhaL havo boon horo sinco boforo Lho ciLy
oxisLod, and oLhors LhaL havo arrivod
moro roconLIy, hiLching ridos on shis,
Ianos and Lrucks. Tho mosL common anL
Danoff-Burg and Dunn oncounLor is Lho
avomonL anL (M^mkZfhkbnf\Z^libmnf),
which camo from somowhoro in Euroo.
BioIogisLs find a mixLuro of naLivo and
nonnaLivo in aII Lho Iifo forms Lhoy sLudy
in Now York, from Lho Lroos in ConLraI
Park Lo Lho birds of Jamaica Bay. Tho
biodivorsiLy of Now York Loday is Lho rosuIL
of oxLincLions, invasions and adaLaLions.
Danoff-Burg and Dunn aro Lrying Lo
figuro ouL whaL conLroIs Lho baIanco of
naLivo and now socios in Now York. Thoy
don`L undorsLand why somo modians havo
moro biodivorsiLy Lhan oLhors, for oxamIo.
On naLuraI isIands, biodivorsiLy Londs
Lo incroaso wiLh Lho sizo of Lho isIands.
Danoff-Burg and Dunn find no such
corroIaLion in Lho modians on Broadway.
Thoy aIso havo Lo doLormino how naLivo
socios of anLs aro cooxisLing in such cIoso
quarLors wiLh invasivo socios.
Now York, in oLhor words, is an
ovoIuLionary oxorimonL - ono LhaL
somo scionLisLs find fascinaLing Lo obsorvo.
IL`s a now Lhing omorging around us,`
Dunn said.
New York has a blend of ant species.
Some are native while the nonnative
species have arrived more recently thanks
to human intervention.
Ellen Pehek, a senior ecologist with the
New York City Parks Department, holds a
northern dusky salamander found in a small
creek running through Highbridge Park.
of Lho SocioLy for Lho SLudy of EvoIuLion.
Harris and his coIIoaguos havo idonLifiod
muLaLions in moro Lhan 1,uuu gonos LhaL
aro rosonL in aII Now York CiLy mico,
buL missing from mico in Harriman SLaLo
Park, ,2 kiIomoLros norLh of Lho ciLy.
Tho scionLisLs aro invosLigaLing whoLhor
Lhoso muLaLions havo hoIod Lho mico
adaL Lo Iifo in Now York CiLy. CIuos LhaL
somo of Lhom do aro found in Lho
funcLions of Lho muLaLod gonos. Many of
Lho gonos aro invoIvod in fighLing bacLoria,
whiIo oLhors aro for roroducLion and sLiII
oLhors for coing wiLh sLross from oxosuro
Lo chomicaIs. IL`s ossibIo LhaL Lhoso now
muLaLions aro sroading indoondonLIy in
oach of Lho arks in Lho ciLy.
CiLios aLLracL onIy a smaII fracLion of
ovoIuLionary bioIogisLs, who ofLon work in
Iushor Iacos Iiko Lho Amazon. BuL urban
ovoIuLion is aLLracLing moro rosoarch Lhoso
days, bocauso ciLios aro fasL-growing, and
Lho urban onvironmonL is quickIy Laking
ovor Iargo aroas of Lho EarLh`s surfaco.
HG: roconL afLornoon, Jamos Danoff-Burg
and Rob Dunn woro cIamboring around in
a narrow Broadway modian on Lho Uor
WosL Sido. Danoff-Burg, a bioIogisL aL
CoIumbia UnivorsiLy, was digging u IasLic
cus from Lho ivy. Dunn, a bioIogisL from
NorLh CaroIina SLaLo UnivorsiLy, was 1.
moLros in Lho air, crouchod on Lho bough
Rob Dunn, who is working with James
Danoff-Burg, a field biologist from
Columbia University, looks around the
base of a tree for diverse ant species on a
median in New York.
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IMAGES (TOP) YAS MARINA
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COME VISIT COME ENJOY
C&N_Yas_Advert_Portfolio_270x206_AW.indd 1 17/10/2011 11:27
Portfolio
CMYK
94
I
GMA>HE=;EN>L <E:LLB< ;R
WiIIio Dixon Lho Iyrics go I`m buiIL for
comforL, I ain`L buiIL for sood`. Now
Lho Lwo mighL bo muLuaIIy oxcIusivo whon
iL comos Lo human hysioIogy, buL iL
corLainIy isn`L Lruo for cars.
Tho Iong-whooIbaso Suu BIuoEfficioncy
AMG is a caso in oinL. This ,22-moLro-
Iong Iuxury Iimousino woighs in aL 2,u,
kiIograms and iL`s mosL dofiniLoIy buiIL
for comforL. YoL iL is aIso fIooL of fooL Iiko
Mohammod AIi in his rimo and has Lho
owor Lo Iand a rosounding knockouL
unch. Tho cham`s moLLo of IIoaL Iiko
a buLLorfIy, sLing Iiko a boo` sums u Lho
Suu nicoIy.
AfLor sonding four days wiLh Lho Suu
I can aLLosL Lo Lho facL LhaL Lhis soIidIy-
buiIL vohicIo doos indood fIoaL Iiko a
buLLorfIy on iLs AIRMATIC air susonsion.
In Lho 'ComforL` modo iL doos oxacLIy
LhaL, buL wiLhouL fooIing songy or aL Lho
oxonso of normaI handIing. Tho 'SorL`
soLLing dofiniLoIy givos Lho Suu boLLor
handIing in LighL cornors, buL you don`L
Ioso much in Lho way of comforL. My wifo,
who has had Lho Ioasuro of samIing
noarIy aII Lho vohicIos I`vo broughL homo,
was imrossod by hor firsL Morcodos
S-CIass oxorionco. ILs Iiko fIoaLing on an
oidordown,` was hor oinion.
Tho V8 -IiLro ongino boasLs Lwin
Lurbochargors and inLorcooIing LhaL
roduco 32u kW of owor and ,uu Nm
of Lorquo, which dofiniLoIy givos Lho Suu
a sLing in Lho LaiI. And iL doos LhaL whiIo
using 1 or conL Ioss fuoI. According Lo
Morcodos Lhis Iong-whooIbaso vorsion
roachos u-1uu km]h in fivo soconds.
Now I`vo drivon somo bruLaIIy oworfuI
cars Lhis yoar, and I moan bruLaI in Lho
bosL ossibIo sonso of Lho word. Tho Suu
is dofiniLoIy no sIouch, yoL iL somohow
usos iLs owor in a vory rofinod way. Whon
you hiL Lho accoIoraLor iL gonoraIIy os
down a goar and givos you a sIiL socond
of Lurbo Iag Lo roconsidor your oLions.
And Lhon off iL goos wiLh a vory Ioasing
growI from Lho V8. Lay down Lho owor
in Iow goar and Lho back acLuaIIy kicks
ouL sIighLIy, jusL onough for an adronaIino
surgo boforo Lho oIocLronics uL you
sLraighL back on courso.
So yos, Lho Suu has Lho owor Lo roach
iLs Lo ond of 2u km]h in a way LhaL wiII
Ioaso orformanco fans. BuL somohow
you don`L roaIIy wanL Lo drivo Lho Suu in
Lhis mannor. This is a Iuxury Iimousino
LhaL is moro abouL comforL, safoLy and
sLaLus Lhan Loaring down EmiraLos Road.
AL 12u km]h Lho Suu is whisor quioL
oxcoL for Lho occasionaI Lyro noiso on
roughor roads, whiIo Lho ,G-Tronic PIus
Essentials
Test Drive
There are a lot of reasons why the long-wheelbase
Mercedes-Benz S500 BlueEfficiency AMG is a class
leader, reports Guido Duken.
FIVE STAR DRIVE
Motoring-Mercedes-Benz .indd 94 10/19/11 5:01:24 PM
November 2011
CMYK
95
The interior is typically Mercedes with a simple yet stylish look and everything at
your fingertips.
The V8 5-litre engine boasts twin turbochargers and an intercooler that propels the S500
from 0-100 km/h in five seconds.
bIind soL and can hoI mainLain a rosoL
disLanco boLwoon you and Lho car in fronL.
Thoro aro IonLy moro safoLy foaLuros buL
wo`ro running ouL of saco.
ExLornaIIy, Lho Suu goLs somo addod
korb aoaI from Lho AMG SorLs
ackago. Tho AMG fronL aron and sido
skirLs add somo owor and monaco Lo Lho
Iook LhaL is roundod off by Lho disLincLivo
roar aron. ThaL`s comIomonLod by Lho
fivo-soko IighL-aIIoy whooIs, which noaLIy
show off Lho ainLod brako caIIiors.
Insido, Lho AMG Lhomo conLinuos wiLh
Lho wood]IoaLhor sLooring whooI, Lrim in
high-gIoss bIack ash and sorLs odaIs in
brushod sLainIoss sLooI.
Combino ovoryLhing and you goL a
Iuxurious Iimousino LhaL fooIs good, Iooks
good and has Lho orformanco and safoLy
oquimonL Lo maLch. Driving aIong Lho
highway I LaughL a LaiIgaLing drivor a
Iosson whon I accoIoraLod hard Lo goL ouL
of his way. Tho Suu IoaL forward so fasL
LhaL by Lho Limo Lho road hog had Limo Lo
roacL I was aIroady safoIy in Lho noxL Iano.
Tho Suu AMG, sockod as mino was, wiII
soL you back $11,,3. Tho Iook on Lho
road hog`s faco? PricoIoss!
imorcoLibIy usos iLs sovon forward
goars Lo koo you aL oLimum ongino
sood. SwiLch Lho Harmon Kardon
surround-soundsysLom on, soLLIo back
in Lho IuxurianL IoaLhor soaLs and you
goL Lho fooIing LhaL you`ro aL homo in
your favouriLo Ioungor. My Suu was
oquiod wiLh Lho oLionaI IronL SoaL
ComforL ackago LhaL has a sorios of
air chambors for Iumbar and shouIdor
suorL and sovon massago chambors
wiLh four massago rogrammos. BuL Lho
noaLosL Lrick is Lho soaL`s sido boIsLors LhaL
adjusL dynamicaIIy in Luno wiLh Lho car`s
movomonLs. So as you go around a cornor
youÌI suddonIy find somo vory woIcomo
suorL kooing you in Iaco. BasicaIIy
you havo a sLandard and a sorL soaL roIIod
inLo ono.
Roar assongors don`L Ioso ouL oiLhor
wiLh Lho Iong-whooIbaso vorsion adding
13 conLimoLros Lo Lho aIroady sacious
Iogroom. PoLonLiaI S-CIass ownors who
rofor boing chauffourod around havo a
hugo IisL of oxLras Lo chooso from incIuding
muILi-conLour soaLs wiLh massago
funcLion, foIding LabIos, a cIovorIy hiddon
fridgo and an onLorLainmonL ackago.
?:EEBG@:LE>>I is a roaI dangor in
my favouriLo Ioungor, which is whoro
Lho ALLonLion AssisL sysLom comos inLo
Iay. AL soods boLwoon 8u and 18u
km]h iL can warn Lho drivor as soon as iL
doLocLs signs of inaLLonLion Lhanks Lo iLs
conLinuous anaIysis of driving bohaviour.
IiLLingIy onough iLs icon is in Lho form of a
sLoaming coffoo cu. AL nighL Lho AdaLivo
Highboam AssisL consLanLIy oLimisos Lho
hoadIam rango Lo givo you a cIoar viow
wiLhouL bIinding oLhor moLorisLs. BuL if
you wanL 2u]2u nighL vision youÌI havo Lo
oL for Lho NighL Viow AssisL PIus LhaL usos
an infrarod camora Lo covor Lho samo aroa
as Lho hoadIighLs and disIays Lho imago
in Lho form of a groy-scaIo icLuro on Lho
disIay. AnoLhor oLionaI safoLy foaLuro is
Lho Drivor AssisLanco PIus Packago LhaL
warns you whon you Ioavo a markod Iano
uninLonLionaIIy, indicaLos vohicIos in your
Motoring-Mercedes-Benz .indd 95 10/19/11 5:01:29 PM
Por tfolio
96
Essentials
Other Business
A young fashion designer from Hanover,
Germany, is revolutionising high fashion by
designing clothes with a staple she can
find in her fridge milk.
Anke Domaske, 28, has developed a
fabric called QMilch made from high
concentrations of the milk protein casein.
It is also the first man-made fibre
produced entirely without chemicals.
The QMilch fabric is ecological but also
has many health benefits according to
Domaske. She also said the amino acids
in the protein are antibacterial, anti-aging
and can help regulate both blood
circulation and body temperature.
Domaskes fashion label Mademoiselle
Chi Chi a favourite among the likes of
Mischa Barton and Ashlee Simpson has
now started weaving the milk fibre into
its collection.
Milk fabric has been around since the
1930s but was always produced in
unecological ways. Unlike earlier
prototypes, QMilch is made almost entirely
from casein. The fibre comes out in
strands and is then spun into yarn on a
spinning machine.
Domaske said it would take about six
litres of milk to produce an entire dress,
which costs about 150 euros ($199)
to 200.
Two AIabama gamo wardons havo dovisod
a fiLLing sond-off for avid hunLors and gun
onLhusiasLs. Thad HoImos and CIom ParnoII, Lho
rorioLors of Lho aLIy namod HoIy Smoko LLC,
wiII Lurn cromaLod ashos inLo ammuniLion LhaL
Lho docoasod`s Iovod onos can firo aL wiII.
CosLs sLarL aL $8u. In addiLion Lo handIing
Lho ashos of ono cIionL oach from KonLucky and
IIorida so far, Lho SLockLon, AIabama, comany
has rocoivod inquirios from mombors of Iaw
onforcomonL, firo doarLmonLs and Lho miIiLary
who wish Lo havo Lhoir sorvico honourod in LhaL
way whon Lho Limo comos. PooIo Lako ashos
and sroad Lhom across Iakos or forosLs or Lhrow
Lhom in rivors. This is no difforonL," said HoImos.
Milking It
Going Out With a Bang
Sony, Lho sLudio bohind Oscar-nominaLod
Iacobook fiIm Tho SociaI NoLwork, is Ianning a
bioic abouL SLovo Jobs, basod on Lho auLhorisod
biograhy of Lho IaLo co-foundor of AIo.
Sony PicLuros is soL Lo acquiro righLs Lo Lho
book by formor Timo Magazino managing odiLor
WaILor Isaacson, LiLIod simIy SLovo Jobs, for
a sovon-figuro sum. IL wiII bo Lho firsL fiIm Lo
LoII Lho AIo foundor`s sLory on Lho big scroon,
Lhough a mado-for-TV docudrama, PiraLos of
SiIicon VaIIoy, roviousIy immorLaIisod Jobs
in 1.
Tho roIoaso of Isaacson's biograhy was
rushod forward Lo 24 OcLobor foIIowing iLs
subjocL`s doaLh from a raro form of ancroaLic
cancor aL Lho ago of 6. IL is basod on moro Lhan
Steve Jobs The Movie
4u inLorviows wiLh Jobs conducLod ovor Lwo yoars -
as woII as inLorviows wiLh moro Lhan 1uu famiIy
mombors, frionds, advorsarios, comoLiLors and
coIIoaguos. In oarIy OcLobor Lho book hiL
No 1 on Amazon`s bosLsoIIor IisL, basod
on ro-ordors aIono.
Isaacson has roviousIy wriLLon
bosLsoIIing biograhios of AIborL
EinsLoin, Honry Kissingor and
Bonjamin IrankIin. Ho was roorLodIy
givon comIoLo accoss Lo Jobs,
incIuding a orsonaI Lour of his subjocL's
chiIdhood homo.
Mark Gordon, Lho man bohind fiIms such
as Sood, Saving PrivaLo Ryan and Sourco
Codo, wiII roduco Lho fiIm vorsion for Sony.
R
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Other business.indd 96 10/19/11 5:02:56 PM
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