Alex Lamnidis/ Αλεξ Λαμνίδης

9 TIMELESS LEADERSHIP LESSONS !!

Author: Alex Lamnidis

9 Timeless leadership lessons from the great King Cyrus of Persia 4th century BC.

http://www.forbes.com/sites/ryanholiday/2012/04/19/9-timeless-leadership-lessons-from-cyrus-the-great/?utm_source=twitterfeed&utm_medium=twitter

Cyrus the Great, the man that historians call “the most amiable of conquerors,” and the first king to found “his empire on generosity” instead of violence and tyranny. Consider Cyrus the antithesis to Machiavelli’s ideal Prince. The author, himself the opposite of Machiavelli, was Xenophon, a student of Socrates.

The book is a veritable classic in the art of leadership, execution, and responsibility. Adapted from Larry Hendrick’s excellent translation, here are nine lessons in leadership from Xenophon’s Cyrus the Great:

Be Self-Reliant

“Never be slow in replenishing your supplies. You’ll always bee on better terms with your allies if you can secure your own provisions…Give them all they need and your troops will follow you to the end of the earth.”

Be Generous

“Success always calls for greater generosity–though most people, lost in the darkness of their own egos, treat it as an occasion for greater greed. Collecting boot [is] not an end itself, but only a means for building [an] empire. Riches would be of little use to us now–except as a means of winning new friends.”

Be Brief

“Brevity is the soul of command. Too much talking suggests desperation on the part of the leader. Speak shortly, decisively and to the point–and couch your desires in such natural logic that no one can raise objections. Then move on.”

Be a Force for Good

“Whenever you can, act as a liberator. Freedom, dignity, wealth–these three together constitute the greatest happiness of humanity. If you bequeath all three to your people, their love for you will never die.”

Be in Control

[After punishing some renegade commanders] “Here again, I would demonstrate the truth that, in my army, discipline always brings rewards.”

Be Fun

“When I became rich, I realized that no kindness between man and man comes more naturally than sharing food and drink, especially food and drink of the ambrosial excellence that I could now provide. Accordingly, I arranged that my table be spread everyday for many invitees, all of whom would dine on the same excellent food as myself. After my guests and I were finished, I would send out any extra food to my absent friends, in token of my esteem.”

Be Loyal

[When asked how he planned to dress for a celebration] “If I can only do well by my friends, I’ll look glorious enough in whatever clothes I wear.”

Be an Example

“In my experience, men who respond to good fortune with modesty and kindness are harder to find than those who face adversity with courage.”

Be Courteous and Kind

“There is a deep–and usually frustrated–desire in the heart of everyone to act with benevolence rather than selfishness, and one fine instance of generosity can inspire dozens more. Thus I established a stately court where all my friends showed respect to each other and cultivated courtesy until it bloomed into perfect harmony.”

There’s a reason Cyrus found students and admirers in his own time as well as the ages that followed. From Thomas Jefferson and Benjamin Franklin to Julius Caesar and Alexander (and yes, even Machiavelli) great men have read his inspiring example and put it to use in the pursuit of their own endeavors.

May 4th, 2012  |  Posted in Politics / Economics  |  No Comments »

FIVE YEARS AFTER CRISIS ERUPTION, NO SOLID RECOVERY IN SIGHT

Author: Alex Lamnidis

http://www.bloomberg.com/news/2012-04-02/five-years-after-crisis-no-normal-recovery.html

Five years since the financial crisis erupted, we are still long way to full recovery.

April 5th, 2012  |  Posted in Politics / Economics  |  No Comments »

Greek Entrepreneurs to the rescue of Greece

Author: Alex Lamnidis

Greek Entrepreneurs to the Rescue

Emerging Markets

by Nasos Mihalakas | on March 13th, 2012 | 0 comments

The Greek dimension of the EU sovereign debt crisis is by now well known to all. Investor anxiety over excessive national debt throughout the EU led to demands for higher interest rates from several governments with greater debt levels and current account deficits. This in turn made it difficult for some governments to finance further budget deficits and service existing debt. Unable to pay for its public debt, the Greek government turned to the EU for financial assistance.

The first bailout package was approved on May 2010, which provided the Greek government with a three year €110 billion loan. On February 2012, the lending troika (EU, IMF and ECB) eventually agreed to provide a second bailout package worth €130 billion. This second package included an agreement with banks to “voluntarily” accept a 53.5% write-off of (some part of) Greek debt, the equivalent of €100 billion, to reduce the country’s debt level from €340bn to €240bn or 120.5% of GDP by 2020.

So far, all the reforms forced upon Greece center on how to reduce the government’s budget. These reforms include decreasing the minimum wage for public (and therefore private) sector employees by 22%, cutting benefits to pensioners and health-care recipients, reducing the government payroll by laying-off 150,000 public sector employees by 2015, privatizing government companies, and opening-up some industries that were closed to competition.

For now, Greece has been brought back from the brink of bankruptcy. Though safe for the time being, the country could find itself struggling to meet the strict conditions outlined in the second bailout agreement if key structural reforms don’t take place. It’s not too late for the crisis to serve as an opportunity.

From Crisis to Opportunity

It is obvious to all that Greece needs a new set of rules that will allow for the smooth transition from the informal to the formal economy, through the simplification of processes and the deregulation of markets. The country will need a simple and fair taxation administration system that would be more efficient and would create a friendlier business environment. Also, Greece will need to simplify judicial services and enforcement of rules and laws. Furthermore, it will need to apply quality control on goods and services, eliminate organizations with overlapping mandates and rationalize the public sector.

The most recent OECD Economy Survey of Greece for 2011 also argues that the authorities should continue this vigorous reform process and their efforts to convince markets of their capacity to implement fundamental economic adjustments. Overall, the Greek government should:

• Continue deficit reduction to halt and then reverse the rise in public debt, by strengthening tax collection and ensure fair sharing of the burden and the benefits of reforms.
• Boost privatization and the development of public assets to reduce the debt burden and associated debt-servicing costs.
• Reinforce structural reforms in the labor and products markets to enhance competitiveness and raise welfare and incomes.

What these reforms have not included was a growth strategy. The country desperately needs to switch from deficit reduction to economic growth, and pursue reforms that will promote entrepreneurship that generate new business ideas. With Greece under the continuing threat of bankruptcy, the country desperately needs to generate sustainable growth and lift competitiveness if it is to ever pay down its debt and disengage itself from a chain of international bailouts.

A New National Growth Model

According to McKinsey’s ‘Greece 10 Years Ahead’ report, published in November 2011, Greece needs a new National Growth Model. Primarily, this new growth model requires that the economy becomes much more outward, focusing on foreign markets both for producing export goods and services and for importing foreign capital. Along with traditional tradable sectors like tourism, agriculture, and manufacturing, business services should get a large share of resources and investments.

Fundamental to this new growth model, according to McKinsey, is transitioning the funding of the economy from public debt to private sector equity and debt. This will require higher levels of foreign and domestic investment. Therefore Greece needs to construct a business-friendly environment that will attract local and foreign investment to generate new jobs and the economic growth required to gradually reduce the country’s reliance on debt.

According to the World Bank, net inflows of foreign direct investment (FDI) in Greece were last reported at $2.25bn in 2010, down from $5.3bn in 2008. In 2008, when the global recession started, net inflows of FDI in Greece were 1.55% of the country’s GDP. By comparison, 2008 FDI net inflows in Israel were reported at $10.8bn (or 5.38% of Israel’s GDP), according to the World Bank.

Greece will desperately need more foreign investment if it is to achieve any meaningful economic growth. Already, foreign investors from China, Germany and elsewhere are looking for bargains in the Greek economy, including in the tourism industry (which accounts for a third of GDP) and in the shipping business (which is very lucrative and growing quickly).

However, for a country like Greece, which lacks a major export sector that would allow it to raise capital, there is only one way to get new money into the economy: direct transfers. Be it for entertainment (tourists), education, or health-care, direct transfers of money by foreigners visiting the country and spending locally could be the only way to jump-start the contracting economy.

Risk Takers Needed

In order to achieve this Greece will need risk taking entrepreneurs. According to an article by Joshua Chaffin of the Financial Times, many Greek entrepreneurs believe that the growth of the state over the past 30 years and its all-embracing nature may have blunted young people’s appetite for risk. For many students, due to their parents cuddling and risk-aversion (“every parent wants their children to be safe”), the dream remains a cushy government job with a regular pay-cheque – not a business career.

However, Greeks are not that risk-averse, and per capita they have the largest number of small and medium size enterprises (SME’s) than any other EU country. Half the economy is dominated by SME’s while the other half is ‘safely locked’ under government control. In comparison to other EU countries, Greece has the highest concentration of SME’s.

Furthermore, the Greek diaspora is prosperous and legions of Greeks have thrived working abroad. While the government may be broke, private wealth is still plentiful. Just consider that by some estimates, the Greek treasury is deprived of €50 bn each year due to tax evasion. This coincides with the estimated €60 bn that have been withdrawn from Greek banks since the crisis began at the end of 2009.

One of the positive unintended consequences of this over-protective, risk-averse, obsessed with higher education parents is that Greece has an abundance of young people with college educations – English speaking, highly educated young adults with degrees in science and technology, medicine and health-care, and of course hospitality and tourism.

The ‘Silicon Island’ of Europe

In theory, Greece should be able to duplicate at least some of the success of Israel, another small Mediterranean country that has managed to become a technology powerhouse. By investing in research and development (R&D) Israel was able to leverage its educated workforce, its financially affluent and well-connected diaspora, and its strategic location to become of the better technology exporters in the world. All of the underlying elements are present in Greece as well.

According to the ‘Invest in Greece’ Agency, Greece offers a favorable environment for Information and Communication Technologies (ICT) investment, with strong market fundamentals, availability of superb talent pool, leading R&D activity, a welcoming ITC ecosystem, and rewarding public and private sector projects. The availability of ICT talent and its required low compensation (by comparison to other places) should make Greece a particularly desirable destination for international information and communication technology firms.

The specific model is something along the lines of ‘Sophia Antipolis’, the ‘Silicon Valley of the French Riviera.’ This science park is set in the hinterlands of Nice, attracting information technology and communications companies whose researchers and engineers community from nearby hilltop villages and picturesque harbor towns. It is no coincidence that technology innovators and entrepreneurs have made California their home – location, climate, and quality of life play a major motivating factor.

On the other hand, Greece needs to restructure its higher education (currently one of the ‘closed sectors’ of the economy) and create ‘University Innovation Zones’ (modeled after Free Trade Zones). With the right regulatory reforms and with some government assistance, foreign Universities and research companies could be encouraged to set-up campuses in Greece, an ideal location for students to study and innovate. These will be University towns, where student’s innovators, venture capitalists and producers can come together and start up technology driven companies that will be protected from the rest of the market.

Of course, you need start-up capital and a government commitment to either not interfere with the information technology sector, or provide the regulatory and legal framework that would accommodate the creation, attraction, and growth of technology information/services driven companies, and international research and education institutions. Usually, the hardest part is the people, and not the infrastructure, and Greece definitely has the people.

The ‘Florida of Europe’

Another objective for Greece coming out of the sovereign debt crisis would be to cater to the health-care and retirement needs of Northern Europeans. Greece has an army of well-educated doctors and nurses, most of whom are practicing their medicine abroad (because of the closed nature of the industry at home) as well as a very pleasant environment (physical and lifestyle) for retirement.

Healthcare, like higher education, is a sector under severe government control and ‘financially’ very inefficient, thus contributing negatively to the government’s debt. However, all this government subsidization of the healthcare industry has created a large number of well-educated, well-trained doctors, nurses, professionals and academics. The challenge should not be to ‘dismantle the system’ so it’s not a financial burden to the government; rather it should be to harness the people and grow the clientele – to import patients and elderly and profit from providing services to them.

Therefore, Greece should aspire to be the ‘Florida of Europe’, where the young go to attend college and stay for the summer to enjoy the weather and the beaches, and the old go to retire and receive quality healthcare and nursing coverage. Transforming the healthcare (and education) sectors to cater to the retirement needs of other Europeans will not be easy, but the current crisis presents the once in a lifetime opportunity to fundamentally restructure the way the society and the economy operate.

If You build it They Will Come…

The next 8 years will not be easy for the Greek people. Bankruptcy might have been averted, but if the economy does not grow the government will be in need of new money in no time. Temporary solutions focusing on tourism and exports could keep the country limping for a while, but only a fundamental restructuring of the economy focusing on technology innovation, education, and healthcare services can provide lasting growth.

If the Greek government can create the necessary infrastructure for ICT start-ups, for higher education growth, and for retirement healthcare, then Europeans will come and invest in Greece. If the right conditions were present, who wouldn’t want to run their ICT firm from a Greek island, or retire by the Greek coast?

March 16th, 2012  |  Posted in Politics / Economics  |  No Comments »

THE GAP WIDENS AGAIN BETWEEN USA’s RICHEST 1% AND THE REST

Author: Alex Lamnidis

http://www.economist.com/node/21549944

March 14th, 2012  |  Posted in Politics / Economics  |  No Comments »

SOCIAL FUNDS IN GREECE OWED 11 bn EUROS

Author: Alex Lamnidis

http://www.athensnews.gr/portal/1/54032

March 14th, 2012  |  Posted in Politics / Economics  |  No Comments »

AEDs ON WORLD MAP

Author: Alex Lamnidis

http://www.aed4.us/?page=index

The University of Nijmegen in Holland has created a platform on which all good willing individuals may note the corporations, hospitals, hotels, malls, stations, or ports that have Automated External Defibrillators (AEDs) deployed. This way all individuals travelling to another destination, can view where AEDs exist in order to protect them from cardiac arrest.

I believe this is an excellent initaitve that should be commented and aided to the utmost.

Follow the link http://www.aed4.us/?page=index# and find your country.

February 22nd, 2012  |  Posted in Health  |  No Comments »

HOW WILL IT END? WITH OR WITHOUT EU AID PACKAGE GREECE’S OPTIONS ARE TRAGIC

Author: Alex Lamnidis

HOW WILL IT END? WITH OR WITHOUT EU AID PACKAGE GREECE’S OPTIONS ARE TRAGIC

The so called happy scenario is that Greece opts for the EU rescue package, following the PSI, and the country remains in the Eurozone.

Well, what happens next?

In a very recent poll 71% of Greeks are against the EU package terms that dictate various terms that are against any notion of national independence.

Thus, politicians that will vote for the EU package know full well, that they will be confronted with a huge wave of discontent. It is truly difficult to see which members of Parliament will vote for the EU package deal, when it is brought to the floor, as thousands will be furiously protesting outside the Parliament walls.

Freely elected Governments usually represent the will of the people, but in the present circumstances the 3 political Parties that support the Greek Government, are not certain at all, that they represent even the will of their own followers, as more and more independent voices shout loudly their disagreement and the electorate “moves” to the left.

The risk of the present situation is that there is widespread belief that the electorate is in majority against the EU package terms however, Greek politicians have preferred to follow a populist trend, agreeing with the average voter, yet voting for the measures to be taken. Such a discrepancy, as EU pressures become enormous, will certainly lead to an increase in the militancy of Greek protesters, since elections are not held and measures are voted, while all Members of Parliament tell citizens that they will vote them down. I am afraid that even when the measures have been voted, reactions will be violent and MPs will need to hide from their electoral, as attacks on them in the streets have increased dramatically.

In the event that an attack on some politician in the near future ends in a loss of life, we can all realize the grave repercussions such an action would have on the Greek psyche and the social and political developments it would trigger. Such developments, of course, would hardly help the economy stand on its feet, as it would plunge Greece into chaos.

The above scenario is the least welcome; however it is rather probable, given the situation Greeks are facing at present.

February 8th, 2012  |  Posted in Politics / Economics  |  No Comments »

IS STATE CAPITALISM THE ANSWER TO OUR ECONOMIC PROBLEMS?

Author: Alex Lamnidis

IS STATE CAPITALISM THE ANSWER TO OUR ECONOMIC PROBLEMS? 

Accumulating some amount of information on societal and economic trends, I tried to understand the reasons for the huge debates that have opened worldwide, placing question marks on almost everything we have based our beliefs on, in the post-World War II period.

Europe has suddenly discovered the holy grail of continuous fiscal austerity, capital is flowing to SE Asia, and corporations are investing in that region heavily, while living standards in N. America and Europe must adjust to the new set of conditions rapidly, and sometimes even brutally. Greece and Portugal as the weakest links in the Eurozone pay the price first, but make no mistake that all countries will be forced to adjust with consequent social unrest and societal repercussions that will be discovered few years later, when sovereign debt issues will start erupting.

A debate that has opened regarding the nature of capitalism that will take us successfully further, namely State capitalism or libertarian capitalism is due to the fact that the Chinese have adopted a State capitalism model that seems to work for them. However, a valid comment would be that not all systems are made for all people.

The history of Europe and USA is very different to China. Europe and USA have roots in the enlightenment and have been greatly affected by thinkers like Aristotle, Voltaire, and Jan Jacques Rousseau. Thus, they have adopted an economic system that suits them and has succeeded in providing their citizens good living conditions, until now. Can Europeans adopt a state capitalism model, after having being immersed in the above thinking for hundreds of years? Well, in my opinion certainly not. Economic systems followed, are systems accepted by the vast majority of people as fair, providing opportunities for development, and some happiness. State capitalism on the other hand is a model whereby people’s thinking is directly manipulated by the State, the economic order has no relation to any fairness criteria, as the greatness of the State and its increased influence and power -is above all other considerations.

Moving in the direction of State capitalism, in my opinion, leads us directly to military conflict, as different States will be obliged to confront other States in order to have the “upper hand” in world affairs, as they compete for natural resources and military technology. I strongly feel that State capitalism will be what mercantilism was some centuries ago, leading to repeated conflicts the then great powers of Europe.

As Arianna Huffington said in a recent interview what happens in the world today is that we privatize profits while we socialize losses.

Indeed, following the collapse of Lehman Brothers in late 2008 the US State intervened with tax payer’s money to save giants like AIG, Citi Group and Bank America. Without this helping hand from the US State the unimaginable would have happened and these giants would cease to exist, creating world economic chaos. However, we can’t avoid seeing today that some corporations owning brands we all love like Apple, IBM, Exxon Mobil have reported enormous profits in 2011, while countries are in huge debt, buying time before a financial tsunami, drowns them all. Well, in Q4 2011, Apple reported $46 billion revenues and $13 billion profits and had cash of 10 billion in Q4 alone. In 2011 Exxon Mobil earned $32.3 billion, Chevron $20 billion, Microsoft $21 billion, IBM $15.6 billion.

What happens with countries per se, and their economies that cater for millions of citizens?

Well, all developed countries are debt ridden to the utmost extent.

                                    $

USA has a debt of 14.3 trillion (101% of GDP)

Hungary 225 billion (120% of GDP)

Australia 1.23 trillion (138.9% of GDP)

Italy 2.6 trillion (146.6% of GDP)

Spain 2.46 trillion (179.4% of GDP)

Greece 579.7 billion (182.2% of GDP)

Germany 5.44 trillion (185.1% of GDP)

France 5.37 trillion (250% of GDP)

Norway 640 billion (251% of GDP)

Austria 867 billion (261% of GDP)

Netherlands 2.55 trillion (376% of GDP)

UK 8.9 trillion (413% of GDP)

and Ireland 2.3 trillion (1352% of GDP)

Ireland seems to be the most debt ridden country in the world, as a percentage of GDP, and certainly Greece is not the worst.

In 2011 the following countries had surpluses thus, servicing well their debt: Germany, Netherlands, Austria, Singapore, Malaysia, Kuwait, Qatar, China, Japan, Saudi Arabia, Norway and Venezuela. This is the successful group..

While in USA, Indiana was the most successful State as it accumulated a surplus of $1.2 billion, followed by Arkansas and S. Carolina. It is well known that major States in USA, like California are deeply in the red.

We clearly see a trend whereby corporations enjoy excellent profitability, as they apply their products and services on a world wide scale taking advantage of growing markets in SE Asia, gradually becoming more autonomous and more non country notions. Thus, as countries’ finances deteriorate, and public debts explode, major corporations grow incessantly exhibiting a more carnivorous behavior to the State that has to cater for its more vulnerable social groups. However, what is well worth noting is that countries gradually try to get rid of their “softer” duties and the debate with the “advantages” of State capitalism serves the objective of transforming the State to a “harder” apparatus that must serve a higher purpose, instead of focusing on the human needs of its more vulnerable citizens.

After all the measure of all systems is human happiness, and the blossoming of State capitalism in China, is too young to extract any firm conclusions, as we cannot say for certain whether it can produce any long term human happiness (to the contrary in my opinion), but some wealth with extremely bad marks on societal and environmental issues.

Let’s see whether it will exist in the form we see today, in one or two decades.

The libertarian system has a much longer history and certainly more people embracing its principles on a daily basis, even if they do not know it. Opting for State capitalism will lead us all to destruction, misery and most certainly unhappiness.

References: Washington Times, http://www.washingtontimes.com/news/2011/jul/17/many-states-celebrate-surpluses-as-congress-strugg/

CNBC, http://www.cnbc.com/id/30308959/The_World_s_Biggest_Debtor_Nations

New America Foundation, www.newamerica.net

February 2nd, 2012  |  Posted in Politics / Economics  |  No Comments »

THE CASE FOR URGENT AED DEPLOYMENT IN GREECE

Author: Alex Lamnidis

Health issues in Greece- The case in favor of AED deployment.

http://www.bbc.co.uk/news/uk-england-london-14588132 Video on London's efforts to protect citizens from cardiac arrest.

http://www.youtube.com/watch?v=WllE0BVjHcQ Defibrillator saves man at boat show (Germany)

http://www.youtube.com/watch?v=p__5tiq2DKc  Troubleshooting-Cardiac-Science-AED

http://www.youtube.com/watch?v=aIGSb1zxGlA AED defibrillator Powerheart G3 Plus user demo Cardiac Science

http://www.youtube.com/watch?v=kMxykn739HE AED at school saves 6-year-old | Defibrillator, cardiac arrest

http://www.youtube.com/watch?v=rMA9rCBQrn0  AED save: Defibrillator saved pensioner’s life Cardiac Science  

http://www.youtube.com/watch?v=E8t0SHAeEMU&feature=related  AED saves man in office, Cardiac Science defibrillator, Skagit

http://www.youtube.com/watch?v=NwcKTh94WVA&feature=related AED saved my life – Eric Rothenberg saved at tennis club with heart defibrillator

http://www.youtube.com/watch?v=OHSWgM91tcg&feature=related Cardiac Science Powerheart AED G3 Pro // Project StatReview

http://www.youtube.com/watch?v=UxxfjxFAcAQ&feature=related  Automated External Defibrillator

http://www.youtube.com/watch?v=1MJn5sQ9FKw&feature=related  Defibrillator: Defibrillation to save lives with cardiac defibrillators, German football Club

Taking into account the 1 million deaths annually occurring in Europe, caused by cardiac arrest, we need to pass the message around on the urgency to do something about it. In central and Northern Europe, central and local Governments seem to be moving in the right direction. However, what is happening in Southern Europe?

Well, results are very far from satisfactory. In Greece for example 10,000 deaths per annum are due to cardiac arrest. However, in Attica (where Athens is located and half the population of Greece resides), very few ambulances carry AEDs, (Automated External Defibrillators), also  very few offices are equipped with AEDs- and the ones that are, belong usually to large Multinational or Greek corporations.

What happens though, with the huge number of public sector buildings where hundreds upon hundreds work on a daily basis? What happens with Ports, Metro stations, or Railway and Bus stations?  Well, nothing!!

Local Governments have huge deficits, thus they are unwilling to move in any direction that involves spending. Central Government has passed a law, back in 2007, but since then nothing is happening. Shipping Companies are not willing to invest in carrying AEDs to protect tourists on board, and Hotels (except some multinational chains) are not investing a penny on cardiac arrest protection.

Even in tough times, like the ones Greece is passing through, we must set our priorities right. The cost of AED coverage is minimal, while the potential benefits are enormous.

We ask all consumers, tourists and media people, whenever they visit Greece to ask for AEDs in their hotels, passenger boats, offices or museums they visit. This is the only way for Greek establisments to start moving in the right direction which is to care for human lives and see deployment of AEDs as an investment, rather as a cost.

January 3rd, 2012  |  Posted in Health  |  1 Comment »