How Your Language Affects Your Future Choices

“To abstain from enjoyment which is in our power, or to seek distant rather than immediate results, are among the most painful exertions of the human will” -

Nassau William Senior

Have you ever put off finishing a project until the last second?  Or wondered why you're bad at saving your money for retirement?  Chances are that you have, and it may have to do with a disconnect from "your future self."  The disconnect comes from this unconscious belief that the person you are today is a separate entity from the person you are in the future.  The future you wants to retire at 55, but today you wants to take a trip to Hawaii.  The future you should be a successful CEO, but the present you doesn't want to work past 5:00.  We have these notions on how we want the future to be, and a lot of times we are incapable of reconciling our present actions with our future wants.

What does this mean?  Keith Chen , an economics professor at UCLA, proposes a rather interesting idea.  As a native English-speaking Chinese person he often wondered at the differences between the two languages, and in particular the difference in their future tenses.  Upon doing a some further research, he realized that this difference in tenses was visible across the board in many languages.  Where in English one say "it will rain tomorrow" in German one would say "Morgen regnet es" which translates literally to "It rains tomorrow."  This way requires that English speakers make an inherent distinction between the present and the future, in a way that German does not.  This leads us to distinguish the two by saying that English has a strong future-tense while German has a weak-future tense, and it is believed that this difference could be what causes the present-future disconnect.

This may seem a little far fetched, but the effects of language on perception are well known.  Keith takes this idea and applies it to economics.  He believes that the separation of present-self from future-self affects us not only on a personal scale, but influences the amount of money that whole countries save.  Not only does this apply to savings, it correlates to the amount of risk that citizens take in their daily lives. For example, those countries with a stronger future tense are statistically more likely to engage in impulse buying, smoking and engaging in unprotected sex. Hopefully by knowing this information, an individual can act more consciously in the way they make their decisions and we can all do a better job of preparing for our future.  The full TED talk by Professor Chen can be seen below.

Why You Should Hire Stakeholders, Not Employees

Let's retire the idea of an employee. These days, your company needs something different.

The Factory System gave us cool toys and a cushy life, but it also came with business diseases, and one of them is the Industrial Age concept of the employee. That version is a very new idea in the history of man, and one that needs to go away. Let's replace them with Stakeholders.

Employees Are Silent

The Industrial Age recreated people as extensions of machines. If people left the messy, creative human part at home, they fit into the Factory System much better. Sadly, people adapted, to the point that the generation that entered the work force at the very peak of the Industrial Age (1945-1965ish) was given the worst generational label in history--The Silent Generation. They understood the Factory System mantra, "Be loyal to the company. Do what you're told. Show up early, leave late. Shut up, sit down, don't make waves, live invisibly, and go out quietly. The company will take care of you, from cradle to grave." They bought the promise hook, line and sinker.

Employees Are Children

This view of work (and life) turned adults back into children. The most respected person was one who obediently took orders, did what they were told, didn't question authority, was blindly loyal to those in charge, and lived passively as others directed their life. Pretty much what we want a five-year-old to do.

To keep the children from ruining the house, the Industrial Age herded people into company day care centers, penned them in with clear and narrow rules on performance and hours, and endless limitations on being human and adult at work. Machines didn't need them to ask why, or to create, or to solve problems. Machines just needed them to "do".

Childlike Employees Are Replaced By Adult Stakeholders

The notion of an employee is a business disease which turns people back into children, and it should be eradicated. Some companies can't even use the word anymore. They don't want to hire children who need to be supervised so that they don't run into the street. They want adults. Enter the Stakeholder.

Stakeholders bring the whole, messy, creative person to work. They can think, take initiative, make decisions, carry responsibility, take ownership, be creative, and solve problems. And they incessantly ask the most human of questions, "Why?" They are self-directed and creative, and they solve problems. They don't expect the company or other adults to take care of them.

Stakeholders Are Owners

Ownership is the most powerful motivator in business. Adults own stuff. Even if they don't own a piece of the company, Stakeholders own their work. And as Stakeholders, they receive profit sharing, just like an owner should. To create ownership, Stakeholders in Participation Age companies own some of the fruit of their labor.

Stakeholders Require Leadership, Not Adult Supervision (Management)

If you hire adult Stakeholders instead of childlike employees, it changes the way you lead people. Participation Age companies with Stakeholders don't have office hours, vacation time, or personal days. They're not interested in whose car was in the parking lot first or who left last. In these companies, Stakeholders don't need adult supervision, they need leadership.

Stakeholders Make Meaning and Money At Work, and More of Both

Industrial Age employees traded time for money, and then went home to Make Meaning. Stakeholders won't settle for a j-o-b that just pays the bills. They want to be able to go home at the end of the day knowing they made a difference, not just a product. And everyone is a lot happier because they all work with adults who contribute and pull their own weight.

In the Participation Age, employees are always a bad idea. Stakeholders will replace them. There is a growing wave of companies looking to replace employees with Stakeholders. Don't settle. Find one you can join, or build one yourself.

Come join us in the Participation Age.

by Chuck Blakeman, Author of the #1 Rated Business Book of the Year, Making Money is Killing Your Business and Top 10 business book, Why Employees Are Always A Bad Idea

www.ChuckBlakeman.com

Article as seen on Inc.com

Self-Driving Trucks & Automated Transportation

What if trucks could drive themselves? As automation technology proves to be reliable, the adoption of self-driving vehicles will continue to occur. The impacts on the economy could be massive. The UK may begin testing self-driving trucks in 2015. According to The Sunday Times, UK ministers recently visited Sweden to witness the technology in action and are making plans to bring it to the UK.  Advocates say the technology could increase fuel efficiency and make better use of human time.

Some proposed systems, such as Volvo's SARTRE road train system, would have vehicles driving tightly together in a caravan using Wi-Fi, infrared cameras, and laser sensors to keep vehicles at a safe distance from each other.  Each vehicle would have a driver in it, though only the front driver would be steering. The other "drivers" could be working on administrative tasks - or eating lunch. While governments and companies are starting out slowly, the eventual result could very well be fully driverless vehicles. This could also be useful for America's economy, as the American Trucking Associations (ATA) estimates that the U.S. is short 30,000 truck drivers. 

In the United States, Google has been the most outspoken proponent of self-driving technology. Their prototype (built from the ground up) goes further and foregoes the steering wheel, mirrors, and pedals found in most of today's vehicles. Their project is focused on human transport, ostensibly so people that used to spend time driving can spend more time using Google's internet services. Uber's $17 billion valuation shows that applied innovation in human transport can be quite profitable for entrepreneurs and their investors. Now imagine automating the most expensive aspect of Uber's business model: the drivers. While some people fear the safety of such auto-mobiles, advocates of self-driving vehicles point to the current rate of human driver error (~40,000 vehicle related deaths in the US each year) and want to push for dramatic safety improvements through well-designed automation.

While the ride-sharing & taxi industry will be attractive, the real prize could be in supply chain logistics.  Global shipping is worth trillions of dollars, and margins could be improved with this new technology. The last couple decades have seen container ships greatly increase in size in order to achieve better economies of scale. The BBC talked with Matt Collette, who teaches ship design at the University of Michigan. He says, “There are two primary drivers for automation,” says Collette. “One is that human beings are not very good at long repetitive tasks. That’s when you see lapses in concentration that lead to the ship getting into a collision or running aground,” he explains.

“Automation could reduce those types of accidents significantly, because the computers have no problem paying attention for a two-month voyage.”

In the 20th century, Malcolm McLean helped adopt the standard size and shape of shipping containers. Although a simple invention, containerization drastically lowered the costs of shipping around the world. Some economists find evidence that the shipping container has done more for global trade than every trade agreement signed in the past 50 years. Now, with automated transportation, the economics of international trade may be revolutionized yet again in the 21st century. 

Life on the Oil Rigs

Life on an oil rig is no picnic, and much of what goes on on the rig is a mystery to the common man.  Workers on an oil rig can spend weeks at a time on the job, and many rigs employ a 14/21 schedule meaning 14 days on followed by 21 off.  Its a tough job, but it can be a very rewarding one.   What actually goes on out on the rig is somewhat of a mystery, but thanks to a Washington-based oil company's recent contest, we are treated to a unique look at what life on the rigs can be.  

The photos depict a side of life on the oil rigs not typically imagined by those outside of the industry.  It appears that while working on one of the most industrial settings there is a surprising amount of wildlife.  While workers in the Middle East work to save the life of a trapped sea turtle, others on a bus in Russia have to deal with overly inquisitive bears.  It's amazing to see that while working what has to be one of the most demanding jobs, workers are still able to reflect on beauty in their work.

Click the Photo for the full gallery at The Journal.

Funding for Nuclear Startup, Transatomic Power

Nuclear power is seeing growing interest.  Billionaire Peter Thiel, co-founder of Paypal and Palantir, has been investing in technology companies for years. His venture capital group, Founders Fund,  challenges the short-term mindset of many in Silicon Valley with its saying: “We wanted flying cars, instead we got 140 characters.” Thiel is now aiming to disrupt the nuclear energy industry.  As re/code reports, Founders Fund has recently made a new allocation called FF Science to "tackle hard problems" with financing for early-stage science ventures.  It recently made its first investment - $2 million into a Cambridge, Massachusetts startup called Transatomic Power.  Co-founders Leslie Dewan and Mark Massie developed the technology as graduate students at MIT. According to their website, Transatomic Power Corporation is commercializing an innovative molten salt reactor that safely burns nuclear waste to deliver vast amounts of affordable clean energy to meet the world's needs. The technical advisory board of Transatomic Power includes leading nuclear scientists and engineers with leadership experience from MIT, UNLV, University of Wisconsin-Madison, Oak Ridge National Lab, Idaho National Lab, and Westinghouse.

 "Transatomic Power's innovative nuclear reactors turn nuclear waste into a safe, clean, and scalable source of electricity."

Founders Fund says it wants to take more risks on early-stage startups tackling difficult technical problems.  “FF Science” is an allocation within its most recent billion dollar fund earmarked for seed-stage investments in areas like aeronautics, advanced computing, energy, life sciences and nanotechnology.  He said the firm wants to invest in startups attempting to solve “some of the world’s most important problems.” They’re not looking for academic science experiments, but incorporated businesses with established teams, even if there’s considerable work left on the science side.

Check out this TED Talk given by co-founders Leslie Dewan and Mark Massie where they outline their new design and how it addresses issues of safety and waste:

http://recode.net/2014/08/05/going-nuclear-founders-fund-plugs-2-million-into-transatomic/

http://www.businessinsider.com/peter-thiel-nuclear-energy-industry-2014-8

http://transatomicpower.com/

http://www.foundersfund.com/

Disputable Nutrition

Much has been made of the new nutrition requirements associated with the National School Lunch Program which has been in place for two years now. A search of stories and blog posts show musings and manifestos from parents and teachers who have seen pounds upon pounds of food thrown out by students who are required to take certain portions (fruits or vegetables) but won't eat it.  Some school officials have pointed to the problem as a source of extreme and unnecessary waste.

The underlying problem may be nutrition requirements so specific, that cafeteria kitchens can only meet them with bland, tasteless food results. Which, no matter how you slice it, does no good at all.

It's unclear whether that's the reason one Colorado school district is opting out of the national program, regardless of the financial incentive to participate.  Weeks before the start of the 2014-2015 school year, the Douglas County School District's board approved a decision to allow the districts nine high schools to drop out of the program. Students who qualify for free or reduced cost school lunches can still participate in the program, but the school district will not be reimbursed by the federal government.

The district's figures show that about 6 percent of their students qualify, and the loss in reimbursement would about to $167,000.

"We're prepared to absorb those costs," said Brent Craig, the district's director of nutrition services. "We're unique in that way. If I was managing a district with a higher number of free or reduced lunch students, I couldn't do it."

Delving deeper, the decision seems to be the result of examining what goes into meeting the NSLP requirements. In one case, the district's chef managed to get a variation of pizza to the recommended 350 calories, but only by replacing the natural cheese with modified food starch, yet it exceeded the maximum allowance of 480 mg sodium. Students didn't like the pizza, but another option, healthier than commercial pizza was well-liked. And that's what the school district would prefer investing their resources in, and ultimately feed to students.

To read more about this decision as well as the NSLP requirements, check out this story from the Denver Post or examine the Nutrition Standards.

Dealing with the Patent Trolls

Start-ups face a lot of adversity in their quest to become profitable companies and, in fact, most don't make it.  One large factor in preventing start-ups from moving forward is the intervention of the dreaded "patent troll."   Patent troll is a derogatory term for a business that produces no products or services, yet obtains patents and uses them to launch a plethora of law-suits against other companies.  A patent troll uses the threat of a lawsuit against businesses in order to extort settlement money without having to go to trial.  What set these trolls apart from companies that legitimately license out thier patented ideas, is that the trolls have no interest in developing the idea, only using it for threat purposes.  They don't want to lease the idea out, and they don't care about the benefits of the final product. Patent trolls are a pain in the butt for not just start-ups but many other businesses as well.  Adam Corolla, a comedian and owner of Lotzi Digital Inc, a podcasting company, is being sued by a company called Personal Audio, a company that claims to own the rights to the idea of a podcast.  When it realized that there wasn't much money to be made in suing podcasters, Personal Audio moved to dismiss the suit, a dismissal that Carolla refused.  Carolla wants to see the suit through to the end, in the hopes of getting Personal Audio's patent revoked, a move which would free other podcasters from the fear of an absurd suit showing up on their front doorstep.  This trend, the trend of taking the fight to the trolls, seems to finally be making some headway and others have started to follow suit.

In 2011 patent trolls were estimated to have cost businesses over $29 billion in legal fees and settlements costs, and creating legislation to curb their suits is hard to create.  Any move to abolish software patents would work, but this would also harm legitimate research companies, companies like Toyota which has software patents on the device that controls the hybrid engine in their Prius.  So what can be done?

In June of 2014 the Supreme Court gave those fighting the trolls a great new weapon for their arsenal.  The case of Alice Corp. v CLS Bank made huge waves when the supreme court ruled that “merely requiring generic computer implementation fails to transform that abstract idea into a patent-eligible invention.”  This means when dealing with computer software, simply having the idea for something is no longer patentable, and only becomes patentable when implemented.  Even then, only your particular version of the implementation is patentable, and not the idea as a whole.  For trolls, who rely on not implementing to protect them from similarly absurd suits, this is a striking blow.  Fresh on the heels of this Supreme Court decision, another trend is making the trolls take notice.

Patent Trolls make a large portion of their money from settlements outside of lawsuits.  The cost of fighting a lawsuit is high, and rather than pay giant legal fees, many companies choose to pay what amounts to blackmail, often having to close down the company to do so.  When one NYC startup was faced with a similar decision, they reached out to Brooklyn Law students for help.  The students quickly realized that this was an opportunity for the best real-world practice that they could find, and put the troll on notice.  With an unlimited number of hours of legal representation by third-year law students available to the defendant, the patent troll had no option but to tuck his tail and run.  This free legal support drastically changes the game against the trolls, and could seriously impact many companies who make their money this way.

Connect & Collaborate - Velocity Global

The world isn't as big as it used to be. If you are even considering expanding your business overseas, either to international markets or just to handle the needs of one major customer, it may not be as complicated as you think.

Of course, it is complicated. there are international employment laws and regulations to consider, payroll, international human resources issues and a whole host of considerations that prevent many businesses from pursuing overseas opportunities.  Fortunately, as with most endeavors, there's someone who will do all the hard work for you.

Ben Wright is the founder and CEO of Velocity Global, a professional employer organization which handles the overseas employment needs for small businesses and entrepreneurs. In this global market, Wright is adamant that smaller enterprises not overlook expanding into other countries when opportunities arise. In our radio interview, Wright explains the many ways Velocity Global handles the details, and can advise businesses about overseas business practices and legalities.

Tune in to hear how you can test out an international market without committing to global expansion, but seizing the opportunity that is right for you.

Listen Saturday at 10:00 AM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

How 18 Neophyte Exporters Used a Transferable Letter of Credit

Transferable Letter of Credit

For many years, I have had the privilege to teach workshops and seminars at the World Trade Center Denver. One session suits companies who have just begun exporting, or exploring the possibilities. My presentation discusses the basic methods of payment used by exporters. One morning, upon completion of my presentation, a gentleman came up to me and said, “Roy, we must have lunch today.”

I looked up to see a tall broad-shouldered man, and replied, “Yes sir. We will have lunch.”

World's Largest Aquarium

At a nearby restaurant, Norm told me his story. He anticipated bidding on a project in Taiwan. The Ministry of Education planned to build the world’s largest aquarium. Norm intended to supply the life support systems – pumps, valves, filters, etc. He was a sales representative, not a manufacturer.

He planned to purchase goods from 17 different vendors, arrange for their export and manage the installation in Taiwan. He wanted to know if any tools were available to enable him to pay the manufacturers.

Transferable Letter of Credit

When he told me he didn’t know about transferable letters of credit, I drew a flowchart on a paper napkin in the restaurant, illustrating how a bank could take a letter of credit issued to him and parcel it to vendors. He would not need to put up his own money. “I need exactly this mechanism to make this transaction work,” he remarked.

When I asked him if he had previous experience exporting, he answered, “No.”

Next I inquired if any of the 17 suppliers have had experience exporting, and he replied, “A few, but most of them haven't.”

I saved my biggest question for last, “How big will this contract be?”

Only the calmness of his voice kept me from falling off my chair as he said, “About $9,000,000!”

The transaction developed successfully and he received a letter of credit in transferable form. He requested the bank to transfer it to 17 other parties. I am pleased to report that due to cooperation among all vendors, freight forwarders and banks, they made over 100 shipments and all vendors received the payments due them.

The Disappearance of the Entry Level Job

The first job out of college is a huge learning experience that can set the tone for an individual's future.  That first taste of employment can give a first timer the determination and drive to move up in a company, while creating a safe environment to learn the basics of a trade.  This first time experience is crucial for developing the confidence in an employee to succeed in their future with the company.  Unfortunately for recent job-seeking grads, the business climate of today may not be as open as it once was.

No mom, I want to be an Art Major! Idiot...

Those seeking entry level jobs, jobs designed to ease an employee into the responsibilities of the position, are finding themselves under-qualified for even the starter positions.  These job-seekers are finding that "entry level jobs" are requiring more and more advanced and industry specific skill-sets.  Entry level jobs in finance and accounting particularly have evolved from simple data entry jobs that bring an employee up to speed over time, to requiring advanced data analysis and a professional understanding right away.  No longer do these new hires have weeks to acclimate, but more often than not have orientation day one and expect full competency day two.

In addition to your data entry, you're also responsible for growing the money tree. 

The change has been so rapid, that many universities are struggling to acclimate by offering the best available solution to their students in the form of internships.  In order to gain the necessary experience to fulfill the requirements, students are taking to internships to supplement their educations and it seems to be helping close the gap.  However, this solution only works for those able to attend college, and even then there aren't enough internship opportunities for all students interested.

First one there gets the spot, the rest of you are cleaning toilets! READY, GO!

Analysts are unsure what is causing this trend, with some citing automation in the workforce, some citing the changing economy and some say it may be due to over-competition for available spots.  Whatever the cause, the fact of the matter is that the definition of an entry level job is changing, and anyone looking to enter the workforce better be prepared for that.

For more on this topic, visit the original post here. 

Innovations for the Disabled

On July 4, 2008, I broke both feet in a freak accident that confined me in a wheelchair for six weeks. To say that was a humbling experience is an understatement. I got to experience first hand what millions of physically disabled (like my brother) contend with on a daily basis which included dealing with inconsiderate people who steal handicapped parking spaces, being stared at as I struggled, or just being treated less than human due to my “difference”. Losing a bit of my independence was also increasingly frustrating. I could go on and on but I digress. I actually want to focus on my mode of transportation, the wheelchair. While my rental wheelchair was relatively lightweight and the appropriate size for me, it still had its limits, which would soon test mine. Bald, non-inflatable tires made it nearly impossible to traverse smooth slopes without slipping. Although it was lightweight, it still required upper body strength to propel myself anywhere which was quite exhausting. I can’t complain too much, after all it was a rental. Thankfully new technology and design innovations are continuing to improve the quality of life for the disabled. Here are just some of those creations in place today.

https://www.youtube.com/watch?v=eADvDOwWGbc

https://www.youtube.com/watch?v=kDS0pevZn54

https://www.youtube.com/watch?v=O7otewMk9pc

I’m particularly interested in these modified Segways. They appear to be able to traverse a variety of terrain. https://www.youtube.com/watch?v=yYSBaHV7gGo

Leaders and Managers Have Nothing In Common

Manage Stuff. Lead People.

Managers are one of the core business diseases of the Industrial Age. They are sacred cows who have been around only for a little over a century, but who should go away as quickly as possible. Few things are as disruptive, unhelpful, and unproductive in the workplace as managers.

Solve and Decide, or Become Less Important?

The manager’s worst habits are to a) solve things and b) decide things. No other actions are as debilitating to others. When a manager solves and decides, the only thing left is to delegate tasks to be executed—“put this nut on that bolt, at this rate.” But when we delegate tasks, people feel used. Managers who solve and decide things are fundamental in the dehumanizing of the workplace, because tasks are for machines.

Leaders do it quite differently. They train others to solve problems and make decisions, and then they get out of the way. If you’re becoming less and less important in your position, you’re leading.

The Best Business Leader Makes the Fewest Decisions

The art of traditional management involves planning, organizing, staffing, controlling, and manipulating human capital. In the awful assumption of traditional management model, people are “capital” to be manipulated and controlled.

In contrast, the art of leadership is to know how few decisions the leader needs to make.

Ricardo Semler, the architect behind Semco, an $800 million Brazilian Participation Age company (with 3,000 stakeholders, but no managers), just celebrated his 10th anniversary of not making a decision. That is tremendous leadership, the kind we should all aspire to by training others to “solve and decide” and then, by getting out their way.

It works because Semler and other Semco leaders have trained others to solve problems and make decisions. Having gotten out of the way, the leaders are now free to stop solving and deciding, and instead to ask questions and think about the future. If you’re making decisions for others, you’re managing. If you’re just asking questions, you’re leading.

What Are You Delegating; Tasks or Responsibility?

We said earlier that when managers delegate tasks (“put this nut on that bolt”), people feel used, because tasks are for machines. But leaders delegate responsibility (“make a great product”)—a much broader request that requires thinking, solving, and deciding. When given responsibility, people take ownership, and ownership is the most powerful motivator in business. Are you delegating tasks, which simply require action, or delegating responsibility, which requires the whole messy, creative person to show up? Management Is Not Leadership; Leadership Is Not Management Management is a very recently invented construct, but leadership has been around for centuries. We’ve conflated the two. Here’s a simple reference for pulling them back apart:

Manage Stuff. Lead People.

The traditional business model we inherited from the factory system of the Industrial Age made the flawed assumption that people need to be managed like stuff. They don’t. They need to be led, and the difference is not semantic, it is gigantic.

Stuff needs to be managed. People don’t. The factory system reinvented people as extensions of machines, and when people are extensions of machines, they are “stuff” to be managed. But if they are fully human, they require leadership, not management.

In our company, we only manage stuff; computers, numbers, software, processes, systems, delivery of goods and services, accounting, marketing, sales, etc. These are all “things” to be managed, and everyone in our business manages stuff. But we don’t need someone with the title of “manager” to hover over any of us to ensure the stuff will get managed. People manage the stuff, and we lead each other by vision, guidance, training and support, and then, most important, by getting out of the way.

The manager’s quest is to be as helpful as possible for as long as possible. The leader’s quest is to relentlessly train others to solve and decide, and become less necessary every day.

It’s important enough to say twice: the art of leadership is to know how few decisions the leader needs to make. Become a leader—stop solving and deciding, and focus instead on asking questions. Everyone will be better off if you do.

Article as seen on Inc.com

by Chuck Blakeman, Author of the #1 Rated Business Book of the Year, Making Money is Killing Your Business and Top 10 business book, Why Employees Are Always A Bad Idea

www.ChuckBlakeman.com

Carbon County Wind Farm Moves Ahead

Carbon County, Wyoming, is the proposed site for the largest-to-date onshore wind farm in the United States.  Power Company of Wyoming  proposes to build up to 1,000 turbines in Carbon County, a proposal which has been approved by the Industrial Siting Council 7-0.  Known as the Chokecherry and Sierra Madre project, the proposed $5 billion plan could produce up to 3,000 megawatts of electricity, or 10 million megawatt hours annually. The ruling by the Industrial Siting Council moves the plan one step closer to becoming a reality, and it seems to be proceeding without much opposition.  During the two day hearing, council members noted that no one spoke in opposition to the project.  According to Richard O'Gara, a Cheyenne Democrat, "It was probably the most professional presentation I've ever seen. There was virtually no opposition."  This sentiment seems to be the same across party lines.  Siting council chairman Shawn Warner, a Powell Republican admits to entering the presentation a little apprehensive about such a large project.  It seems his fears were assuaged though, as he says "They did a first-class job in submitting what was required, they literally left no stone unturned."

The project's final aim is to sell electricity to Arizona, California and Nevada, three states that have renewable-energy standards requiring them to utilize renewables to bolster their supply of generated power.  The plan predicts an 8-year construction once the approval process is finalized.

Read more about the project here.

Adobe Expands 3D Printing in Photoshop

3D printing is exciting technology; however, to become really compelling and world-changing, designers must start creating amazing things.  So far this capability has been available to a small number of people willing to learn a whole new, multi-step process. Now, Adobe is expanding its popular photoshop software to include more options to design and print real-life 3D objects. Adobe describes the upgrades in a new blog post - full version here

The latest update – Photoshop CC (2014.1)

This latest release of 3D printing features and enhancements expands support for new 3D printers and 3D print services, broadens the range of file formats that can be read and written, and offers updates that add efficiency to your workflow. New features include:

• Support for the MakerBot Replicator 5th Generation desktop printer and DMM.com (Japan) 3D print service
• Support for additional 3D file formats including VRML, U3D, PLY, and IGES
• Streamlined 3D painting experience
• Ability to easily combine multiple print jobs into a single print bed
• 3D printing workflow improvements

As the fundamental cost of quality 3D printing goes down, this technology will become more accessible and ultimately more useful. Add in an army of creative photoshop designers and things will be getting even more interesting.

“The 3D printing features in Adobe Photoshop CC unifies what used to take us roughly 15 steps in several different programs into one easy-to-use program—condensing our workflow significantly,” said Bradley Rothenberg, co-founder, Bradley Rothenberg, a studio focused on 3D printed textiles, jewelry, and accessories. “Our experience with using Photoshop in 2D is something we can easily leverage now with 3D models, which is incredibly helpful, and these latest features and enhancements will make it even better. I can’t wait to see what Adobe does next.” – Photo by ThreeASFOUR

Connect & Collaborate - Sex Trafficking Awareness

The most horrific crimes, involving women and children are being committed under a cover of normalcy and ignorance. Human trafficking and sex trafficking victims are exploited and abused here in Denver and very few of us will ever notice. It takes place within a dirty game of manipulation, where victims pose as the girlfriends of their abusers. An incredibly organized structure pits women against women. Many "someones" are making loads of filthy, tainted money from the abuse and tears of the innocent. Denver's position at the intersection of two major interstate highways makes it a major hub for sex trafficking. Victims are found and made within a day or two of a teenager running away from home, or the moment a parent coerces their own child to perform sex acts for money, just this one time. They're hidden in plain sight, where hotels, massage businesses, even restaurants and nail salons serve as fronts for sex trafficking rings.

This week, Denver District Attorney Mitch Morrissey returns to Connect & Collaborate to discuss the troubling problem of sex trafficking, the challenges of prosecuting the criminals and assisting the victims. He introduces us to Becky Bullard, Project Director for the Denver Anti-Trafficking Alliance (DATA) who explains the complications of removing victims from their captors and exploiters.

It's an uncomfortable topic, for certain. We at ICOSA hope that by listening to this interview, our audience will be better able to identify these kinds of situations, and report suspicious circumstances to save a life or simply release a child from this horror. DATA does not suggest any citizen take these situations into their own hands, or confront the abusers. If you see something suspicious, contact the National Human Trafficking Hotline.

Training is available for businesses and organizations that may confront the effects of trafficking, such as school teachers, truck drivers, or anyone who works with children. To request training, go to www.DenverAlliance.org and click on Resources.

We thank you for taking this information seriously, and for your heart to make our community safer for everyone.

To learn more, listen Saturday at 1:00PM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

Tesla Could Upend Utilities

Morgan Stanley, a major investment bank, thinks the utility industry underestimates the potential of Tesla Motors ability to achieve dramatic reduction in battery storage costs. This breakthrough could potentially convince more people to go off-grid. In their detailed report released in late July, Solar Power & Energy Storage, Morgan Stanley says, "Energy storage, specifically Tesla’s product, could be disruptive in the US and Europe. Given the relatively high cost of the power grid, we think that customers in parts of the US and Europe may seek to avoid utility grid fees by going “off-grid” through a combination of solar power and energy storage. "

“We believe there is not sufficient appreciation of the magnitude of energy storage cost reduction that Tesla has already achieved, nor of the further cost reduction magnitude that Tesla might be able to achieve. once the company has constructed its “Gigafactory”, targeted for completion later in the decade.“

While the costs of the utility networks are fixed and rising, the costs of these new disruptive technologies will continue to fall, and they're falling quicker than the incumbents realize.

Most battery manufacturers, the report notes, have a capacity of around 40MW to 50MW per annum. Tesla is proposing one of 1,000MW – and possibly many more. This, says Morgan Stanley, will slash the capital cost of Tesla’s battery from the current $250/kWh to $150/kWh by 2020, whereas its closest competitor will be at a cost of ~$500/kWh.

Morgan Stanley canvasses three types of approach to the arrival of storage:

On the grid, but net zero grid power usage. Under this approach, a customer’s solar panels produce excess power during the day (which is sold back to the grid), and at night the customer draws power from the grid. This approach could result in low or net zero usage of power produced by large-scale power plants attached to the grid.

On the grid, partial grid power usage. This approach is often taken in Europe, where solar panel systems are not sized to fully allow customers to eliminate their net usage of power from the grid, and where economics and regulation mean moving fully off-grid is very unlikely. It is thus unlikely that such customers pursue a fully off-grid approach.

 Fully off the grid. In this approach, consumers fully depend on their on-site power generation, using storage and a power management system to provide power to the home when needed. Consumers could choose this approach for a number of reasons. For instance, in select markets, customers who choose to “net meter” as in the “on-grid” approach described above, have to pay a large non-bypassable, fixed grid charge; these consumers have an incentive to go fully off the grid.

“By 2028, we estimate Tesla’s 3.9 million units NA car population (or “park”) will have an energy storage capacity of 237 GW (443 GW globally), equal to 22% of today’s US production capacity and nearly 10x larger than the entirety of US grid storage that exists today. These figures exclude any recycled (2nd life) battery after EV use."

"Tesla Model S (85 kWh) can store enough energy to power the average US household for 3.5 days."

TIMBERLINE COVER

Have you ever seen our band's album covers...we were on CBS EPIC in 1977.

The front cover is  a C.C. Curtis photograph hand tinted...and there's quite a story behind the men pictured here.

How a Standby Letter of Credit Can be Used to Create an Earthquake

Cash, Letter of Credit, Standby Letter of Credit, Collateral, Small Business Administration (SBA), Export Working Capital Program (EWCP), Guarantee

An engineering company in Boulder, Colorado, designs and builds shake-tables used to simulate vibrations and movements. The hydraulics mounted underneath the table are operated by computers which are programmed to simulate movements ranging from minor vibrations to earthquakes. Equipment manufacturers, electric utilities, etc. buy the custom-built tables to test equipment prior to installing it in their power plants and for product qualification.

The company in Boulder received an order for a shake-table from a ship builder in Korea. The buyer wanted the shake-table to simulate the vibrations of a ship and the motion of the waves. In this way he could test the durability of the equipment prior to installation in ships.

The engineering company had to invest a considerable amount of money in engineering, parts, and labor to build the table to the buyer’s specs. In this transaction they negotiated payment terms as follows: 40% cash in advance, 50% payable by a letter of credit upon presentation of shipping documents, and 10% upon acceptance by the buyer after installation of the shake-table and completion of on-site training.

Securing the Cash Payment

The buyer in Korea had one condition for the 40% cash payment. He wanted a standby letter of credit for an amount equal to the down payment, payable to the buyer upon his certification that the exporter failed to build the shake-table. The standby letter of credit would provide assurance that the buyer could get his money back in the event the supplier never produced or shipped the goods. The supplier asked a bank to issue the standby letter of credit.

By way of a brief background, the supplier was a well established, proven, capable and well managed engineering firm. However, the de-regulation of the energy industry caused a collapse of a major market segment for this company. As a result, at the time of the Korean contract, the company’s liquid collateral had weakened. This contract to Korea proved their proactive effort to diversify into other markets.

When the bank received the request for issuing the standby letter of credit, they agreed to only do so with cash collateral. This caused a “catch 22” for the supplier. In order to get the cash payment he needed a standby letter of credit. In order to get the standby letter of credit he needed the cash. The bank partially resolved this problem by stating in the letter of credit that it would become effective upon the bank’s receipt of the cash in advance. However, this did not help the supplier’s cash flow. If the bank kept the cash to secure the standby letter of credit, the exporter would not have use of the cash and would be no better off than before issuing the standby letter of credit. Enter a government program.

Assistance from The Small Business Administration (SBA)

The Small Business Administration (SBA) of the U.S. government has a program to assist with the financing of exports. The program, “Export Working Capital Program” (EWCP), provides guarantees to banks to eliminate a major portion of the risk. In short, if an exporter has an order with an acceptable, firm means of payment and can prove ability to perform, the transaction may qualify for the guarantee.

Since this company had a proven track record of performance with many satisfied customers, SBA issued a guarantee, which enabled the bank to issue the standby letter of credit without the cash collateral. The company then had use of the cash for the purpose intended. SBA’s guarantee also allowed the bank to advance funds over and above the standby letter of credit. This enabled the company to borrow money for purchasing raw material and meeting payroll during the six months it took to build the equipment.

The company constructed the three-axis shake-table on schedule, received payment and paid off the loan, thanks to the SBA.

ESA Poised to Land Rover on Comet

Ten years ago the ESA (European Space Agency) began a chase through the stars that will be ending today (August 6, 2014).  Europe's Rosetta spacecraft is poised to orbit a comet that it has been tailing for the past decade and will soon be landing on Comet 67P/Churyumov-Gerasimenko.  Described as "the sexiest, most fantastic mission ever" by one of the ESA's lead scientists, the purpose of this mission is to ascertain if comets could have delivered the necessary elements for life in early in Earth's history.

During the angsty teen years

According to a theory, the basic building blocks of life may have been delivered by an early comet.  The theory is that comets may have crashed into Earth, creating a surplus of water, carbon and other life essential elements.  Previous missions have been drive-by missions, which collect the dust from the comet's tail, however attempting to land on a comet has never been done before.  Rosetta takes her first steps today, by pulling up along side of the comet  to begin orbiting in preparation for eventual landing on the so called "rubber duck in space."

Click here for the full story on BBC.

Companies Without Managers Do Better By Every Metric

Participate and Share

Last week we described Participation Age companies - Stakeholders, who work in self-managed teams, replace employees; Leaders replace managers; there is profit-sharing for everyone, no work hours, etc.  But how do they perform against traditional, management-centric companies with Industrial Age hierarchies?

Quite well, it turns out. They don’t just hold their own; they blow the lid off! Let’s start with tiny companies and work our way up to huge.

Crankset Group

Our little seven-year old company, Crankset Group, with 20+ full and part-time people grew 704% in the last five years, and growth is accelerating. Nobody reports to anybody; everybody is a Chief (Relationship Officer, Results Officer, Transformation Officer, Connecting Officer, etc.). Everyone leads in their area of expertise, and we all know exactly what result we are supposed to produce, and if you get the result agreed upon, nobody cares WHERE you are or WHEN you are. And everyone has the ability to grow, learn, start things, and make more money by expanding their impact.

Menlo Innovations

Menlo Innovations, a software company with over 100 Stakeholders, has a manager-less Participation Age culture, and is well known because its founder, Richard Sheridan, wrote a book called, Joy, Inc., that tells how they built a company with almost no hierarchy. They now have courses teaching other companies how to do it.

Valve Corporation

Valve, a software/game company has 300 Stakeholders. There are no managers.  People transfer to other projects without “permission,” choose what to work on, decide each other's pay, and go on vacation for a week together every year (Hawaii last year). Valve is significantly more profitable per Stakeholder than either Apple or Google.

Semco Partners

Semco, a Brazilian company with 3,000 Stakeholders, made washing machines in 1951, but is now in multiple industries including real estate, banking, and web services. In a 10-year recessionary period in Brazil, Semco’s revenues still grew 600%, profits were up 500%, productivity was up 700%, and for the last 20+ years, employee turnover remains at an incredibly low 1-2% per year. They have no managers, no HR department, no written policies (just a few written beliefs) and no office hours. Everyone works in small, self-motivated, self-managed work teams who make their own decisions regarding salary, hiring, firing, and who leads the team for the next six months. There are no managers to involve in the process.

 W. L. Gore, Inc.

W. L. Gore (Gore-Tex), with 10,000 employees has been a Participation Age pioneer, functioning without managers since the 1960’s. Stakeholders at Gore say it takes 6-12 months for new hires to believe there will be no manager looking over their shoulder. One Stakeholder said, “If anyone here ever told someone else what to do, no one would work with them again.”

Fortune 500s and Internationals

Thirty Fortune 500’s are also moving aggressively in the direction of being Participation Age companies and are growing an average of ten times faster than the average S&P 500 company over ten years. Forty-one other international companies and organizations comprise the WorldBlu list of “most democratic” manager-less companies.

A Big Duh

These examples just scratch the surface. The Participation Age company isn’t a fringe idea, but is the wave of the present. In ten years, this will all be a big “duh”. And those that don’t embrace the Participation Age will be left behind.

The results are in. If you want to make a bucket-load of money going forward, you will want to join the Participation Age, and replace managers with exponentially fewer leaders.

Next week we’ll look at the radical difference between the two, and how most companies that think they have leaders, actually have managers.

Article as seen on Inc.com