Word: gurus
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...money down." The seminars and TV programs are teasers for the real product: packages of booklets and tape cassettes that explain in more detail how to start from scratch in real estate. At about $300 and up, these home-study courses have earned millions of dollars for the gurus and probably started a few graduates on the path to success. But many mortgage lenders and real estate brokers, irritated by shaky financing schemes proposed to them by the no-money-down graduates, think the preachers make it look much too easy. Says Mary Burton, owner of a Chicago real estate...
...gurus aim their advice at neophyte investors who lack the 10% to 20% down payments required for conventional mortgages. The no-money-down advocates tell their students to look for so-called motivated sellers, people who are so desperate to unload their property that they will go along with a highly leveraged financing deal. One such scheme is what Allen calls the Second Mortgage Crank, in which the buyer of a $100,000 house persuades the seller to take out a new bank mortgage of $75,000. The no-money-down buyer then assumes that mortgage and gives the seller...
With more factories around the world, Toyota has had to abandon its distinctive one-on-one training methods, prompting questions about whether the company can maintain its vaunted production standards. In the old days, Japanese manufacturing gurus schooled in the legendary Toyota production system would move overseas and practically live in a new plant for a few years. Classroom training is now the rule. And for the first time, Toyota's U.S. plants--not factories in Japan--are acting as the "mother ships" for new factories. A Georgetown, Ky., plant shepherded a new truck plant in Mexico...
...frothy market, the media are feeding the euphoria. TV viewers are treated to a regular CNBC program called Wizards of Dalal Street, showcasing the wisdom of local investment gurus. Another channel, NDTV Profit, offers a rival show called Big Fish (not to mention Sensex and the City). Indian business publications pile on with intoxicating headlines like THESE IPOS CAN MAKE YOU A SUPERSTAR INVESTOR...
...producers, who are arguably as important to a track’s success. Good production makes an epic difference, as can be seen in the prominent diversity on Jay-Z’s “Black Album,” where a slate of different studio gurus give each song a distinct match-up to the H.O.V.A.’s rhymes. Studio musicians in rock and pop don’t enjoy the same opportunity for fame that rap producers do, and it’s a shame: the musicians behind a huge percentage of certain radio stations...