Benefits of having a broad network

But in today’s world, networking is a necessity. A mountain of research shows that professional networks lead to more job and business opportunities, broader and deeper knowledge, improved capacity to innovate, faster advancement, and greater status and authority. Building and nurturing professional relationships also improves the quality of work and increases job satisfaction.

• If you are an introvert, you can’t simply will yourself to be extroverted, of course. But everyone can choose which motivational focus to bring to networking. Concentrate on the positives—how it’s going to help you boost the knowledge and skills that are needed in your job—and the activity will begin to seem much more worthwhile
• Another factor that affects people’s interest in and effectiveness at networking is the primary purpose they have in mind when they do it. In the law firm we studied, we found that attorneys who focused on the collective benefits of making connections (“support my firm” and “help my clients”) rather than on personal ones (“support or help my career”) felt more authentic and less dirty while networking, were more likely to network, and had more billable hours as a result.

https://hbr.org/2016/05/learn-to-love-networking?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

Reading habits of highly successful people

https://medium.com/life-learning/the-reading-habits-of-ultra-successful-people-d565b26f15f5#.yyrk9gcdm

In fact, when Warren Buffett was once asked about the key to success, he pointed to a stack of nearby books and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”

Buffett takes this habit to the extreme — he read between 600 and 1000 pagesper day when he was beginning his investing career, and still devotes about 80% of each day to reading.

And he’s not alone. Here are just a few top business leaders and entrepreneurs who make reading a major part of their daily lifestyle:

• Bill Gates reads about 50 books per year, which breaks down to 1 per week
• Mark Cuban reads more than 3 hours every day
• Elon Musk is an avid reader and when asked how he learned to build rockets, he said “I read books.”
• Mark Zuckerberg resolved to read a book every 2 weeks throughout 2015
• Oprah Winfrey selects one of her favorite books every month for her Book Club members to read and discuss

And these aren’t just isolated examples. A study of 1200 wealthy people found that they all have reading as a pastime in common.

But successful people don’t just read anything. They are highly selective about what they read, opting to be educated over being entertained. They believe that books are a gateway to learning and knowledge.

In fact, there is a notable difference between the reading habits of the wealthy and the not-so-wealthy. According to Tom Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals, rich people (annual income of $160,000 or more and a liquid net worth of $3.2 million-plus) read for self-improvement, education, and success. Whereas poor people (annual income of $35,000 or less and a liquid net worth of $5,000 or less) read primarily to be entertained.

Successful people tend to choose educational books and publications over novels, tabloids, and magazines. And in particular they obsess over biographies and autobiographies of other successful people for guidance and inspiration.

There are many examples of successful people dropping out of school or foregoing a formal education, but it is clear that they never stop learning. And reading is a key part of their success.

If reading as a pathway to success isn’t enough to get you motivated, consider these health benefits of reading: Reading has been shown to help prevent stress, depression, and dementia, while enhancing confidence, empathy, decision-making, and overall life satisfaction.

Use of derivatives for speculation, not hedging

American regulators refuse to challenge the financial-services industry’s claim that derivatives are used primarily for legitimate hedging and arbitrage. In truth, as the 2009 report by the U.K.’s FSA concluded, derivatives trading is mainly used for speculation, meaning creating risk and leverage.

Read more: http://www.politico.com/magazine/story/2016/04/new-york-primary-financial-crisis-wall-street-213822#ixzz46USuxhPO 
Follow us: @politico on Twitter | Politico on Facebook

Problems with big banks and their regulation

Public dissatisfaction with the failure to prosecute bank executives has only increased as stories of bank lawlessness—ranging from the manipulation of Libor (the London Interbank Offered Rate, which is the average of interest rates estimated by each of the leading London banks that they would be charged were they to borrow from other banks), foreign exchange and Treasury market manipulation, money laundering, and, with the Panama Papers, facilitation of tax evasion—have become almost a daily staple. Another vote of no confidence comes from new Minneapolis Fed President Neal Kashkari, who is hosting a series of high-profile conferences and soliciting a wide range of ideas as input for presenting the Minneapolis Fed’s own plan for solving the too-big-to-fail problem toward the end of the year.

Read more: http://www.politico.com/magazine/story/2016/04/new-york-primary-financial-crisis-wall-street-213822#ixzz46USOpnNa 
Follow us: @politico on Twitter | Politico on Facebook

lots of stores = energy

Key takeaway: "I knew I needed to create lots of energy, and the way you do that is by having lots of small stores."

Commuters walking through Columbus Circle will have a multitude of new shopping options whenTurnStyle, an underground retail complex four years in the making, opens for business Tuesday. A long, hallway-style mall that features over a dozen boutique stores decked out in warm lighting and industrial fixtures, the space was designed with the intent of getting New Yorkers to slow down, open their eyes, and, of course, shop.

TurnStyle's lead developer Susan Fine worked on the remodeling of Grand Central Market, and used that space as a reference point for her new Columbus Circle project. "I knew I needed to create lots of energy, and the way you do that is by having lots of small stores," Fine said Tuesday.

A dingy, 325-foot-long subway passageway between 57th Street and 59th Street along 8th Avenue has been transformed to create the space, which boasts 30,000-square-feet of food and retail. All together, there are 39 different vendors in the space, including 20 food service establishments, 12 boutiques and other rotating vendors.

"These shops understood what we're trying to do, and they're into it," says Fine. "Our eyes are deadened in a lot of ways. Screens deaden them, and I think we'll open your eyes. I hope we do."

Boutiques are the defining feature of TurnStyle, and its stores offer just about everything from high-end dog toys to fine menswear to artisanal hats to books to wine. In terms of food, sweets from Chelsea Market fixtures Doughnuttery and The Nut Box complement a host of coffee options including FIKA and Starbucks. A Melt Kraft grilled cheese stand is tucked near the space's entrance. The space is geared toward the urban gourmand on the go, but Fine also hopes TurnStyle will become a destination itself. A late evening program of live music is currently in the works.

"It was hard to figure out how to be subversive and cool and industrial, but warm. You have to be inviting," Fine said as she oversaw the last stages of construction before Tuesday evening's opening. Each boutique is required to be open for 12 hours each day, but opening and closing times will be in flux for the next few weeks.

"Luxury can't be fast, delivered in every corner of the world and loved by all"

Since founding his namesake brand in 2013 after stints at Miu Miu, Yves Saint Laurent and Dior, Mr. [Francesco] Russo has concentrated on gaining an intimate relationship with his clients, inspired by the designer-client experience common in the 1950s.

A staunch believer that “luxury just can’t be fast, delivered in every corner of the world and loved by all,” Mr. Russo said the time it takes for him to work with a client and to fabricate a customized shoe, however labor intensive, produces both a desirable investment piece meant to last and an enduring customer relationship.

http://www.nytimes.com/2016/04/05/fashion/luxury-goods-retail.html

Martha Graham says to Agnes de Mille