Cell Phones set for Subway!

This appeared on the Reuters News Wire on Febuary 3, 2006:

Welcome or not, cell phones set for subway, by Ellen Wulfhorst

One of life's ironic oases of solitude – the peace people find amid the roar of a New York City subway – could soon be gone. As New York plans to make cell phones work in subway stations, experts say Americans eventually could be connected everywhere, underground or in the air.

"It's technically feasible, both for airplanes and subways," said James Katz, director of the Center for Mobile Communication Studies at Rutgers University in New Brunswick, New Jersey. "It's the social aspect that's really the most intractable."

People fall into two camps, one that defends the right to make calls no matter the inconvenience to others and the other that likes an undisturbed atmosphere, he said. Business people tend to belong to first camp, and leisure travelers to the second, he added.

Focusing on the Wrong Things?

I couldn’t help but be amused when I came across this Forbes article on the dangers to a company when top executives are distracted by opportunities for “adulation.”

“Cancel That Cover Shoot”
by Dana Wechsler Linden, Forbes, January, 31, 2005

Everyone knows about the Sports Illustrated cover jinx. Does the same misfortune happen to executives who become celebrities? Anecdotally, to be sure. FORBES picked the Charles Schwab Corp. as the company of the year in 2001. Within two years the stock dropped to $7 from $30, and 35% of the employees were on the street.

Now two economists--Ulrike Malmendier of Stanford and Geoffrey Tate of Wharton--have gone beyond anecdotes. As specialists in "behavioral corporate finance," they studied the performance of more than 500 chief executives from 1975 to 2002. Half won media awards, such as best manager or
entrepreneur of the year, and became pseudo-celebrities. The other half didn't win awards but had company performances and profiles remarkably similar to the ones who did.

Guess what? Celebrity leads to hubris--and lower returns for shareholders. Malmendier and Tate don't name names, but here's some of what they found.

* Return on assets at companies with "celebrity" executives deteriorated steadily for at least three years after a big award, while those without did consistently better than the superstars.

* Award-winners write more books than nonwinners--autobiographies, collections of self-help advice and homespun philosophy. Ghostwritten or not, they're distractions from the bottom line.

* The more awards chief executives win, the more likely they are to sit on three or more boards, leaving less time for their own directors.

None of this surprises Jeffrey Sonnenfeld, head of the Yale School of Management's Chief Executive Leadership Institute. "The truth is, people do get distracted. You can almost see them start to grow weary of the business and thrilled with the adulation."

Jeff to Speak to IMC on 5/22

The Carolinas Chapter of the Institute of Management Consultants is presenting a program on Monday, May 22 that will cover two important topics; how to enhance your consulting website to generate more business, and how to manage your growing consulting practice in ways that maximize your personal enjoyment and benefit.

PRWEB -- The Carolinas Chapter of the Institute of Management Consultants is presenting a program on Monday, May 22 that will cover two important topics: how to enhance your consulting website to generate more business, and how to manage your growing consulting practice in ways that maximize your personal enjoyment and benefit.

The May 22nd program will be held at the Grandover Resort in Greensboro beginning at 1:30pm, including an afternoon workshop, dinner and a keynote speaker. Anyone involved in or interested in consulting as a practice is encouraged to attend.

The afternoon workshop features Paul Halas of Halas & Associates creator of the "Halas Business Valuation System," and Judi Wallace of Wallace Consulting, experienced consultants who know first-hand the power of online marketing.

The keynote dinner speaker is Jeff Davidson, founder of the Breathing Space Institute and a noted author and speaker. Mr. Davidson will focus on how you can truly master the information and communication overload you face every day in your practice. You’ll learn simple but powerful techniques to help you better manage information, control your environment, generate energy from your success and gain some real breathing space more often. So you can manage your pace with greater grace.

The program on Monday, May 22 begins with registration at 1:30pm, continuing with the Workshop at 2:00pm, a Networking Social at 5:00pm and a Dinner featuring the keynote speaker at 6:00pm. Fees are $40 for IMC Members and $50 for non-IMC Members, and information about IMC Membership will be available at the event. For more information, call 704-364-4440