Word: capitalists
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Hard to believe that want of B schools may be one of the most important issues facing China, but there it is. In the midst of its capitalist explosion, the country has one of the highest small-business bankruptcy rates in Asia, and only 9,000 locally trained M.B.A.s. In contrast, the U.S. churns out 70,000 M.B.A.s each year...
Take a government renowned for red tape and an infrastructure famous for inefficiency. Add to those a business culture struggling to escape its predigital mom-and-pop era--and you have a formula that is hardly likely to appeal to a tough-minded American venture capitalist at the top of his game. But there was another side to the equation that led Norman Prouty to head for India three years ago. By his calculation, 40% of all successful high-tech stock IPOs in Silicon Valley were floated by Indian entrepreneurs. Why not go to the source of all that talent...
Prouty isn't the only businessman to look at India and see untapped opportunity, but he's the only American venture capitalist who lives and works there, 24/7. And being there makes all the difference. A Yale liberal-arts graduate, Prouty spent the first 20 years of his career at Citibank as a senior credit officer lending to multinational companies, and the next 15 financing $100 billion worth of mergers and acquisitions at Lazard Freres before exiting as a general partner. Prouty could have retired. "But that was a sure way to feel like an old man on the shelf...
...more days of vacation. Those days, as frazzled human resource managers know, are long gone. In today's tight labor market, many job seekers are enticed by laundry lists of benefits, ranging from health club memberships to vacation shares in the Caribbean. And now, thanks to some clever capitalist thinking, even prospective employees' pets can profit from the competition; according to Associated Press reports, a growing number of companies are offering pet health plans to help defray, for example, the expense of a beloved parakeet's ankle surgery...
Walter Kirn hit the nail on the head in "Will Teenagers Disappear?" [VISIONS 21, Feb. 21]. Kirn noted that an adolescent with his or her own money is not a teenager but a "capitalist early bird out to get the worm." I am in the ninth grade, and I already have a yearly income of about $12,000. I own more than 20 websites and online businesses. At age 12, I was making more business decisions than many adults do. It makes me sick when my teachers treat me like an inferior who needs to be whipped into shape...