All posts by James Cannon

James Cannon

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com

New President Inaugurated in Mexico

Andrés Manuel López Obrador, Mexico’s new president. Photo courtesy of Flickr.

Within only 48 hours of his inauguration as the new president of Mexico, Andres Manuel Lopez Obrador held his first news conference, confirming that he will be running things very differently than his predecessor, Enrique Pena Nieto.

The first news conference is only the opening of what Obrador promises will be a weekly event. Taking questions from the press was not Nieto’s strong suit, preferring to inform the public with highly prepared speeches.

During the press conference, the 65-year old emphasized his goal to end drug-related violence in Mexico instigated by cartels that have left over 200,000 people dead.

“It is so important to guarantee peace and tranquility in the country that I am not going to delegate this responsibility, I am going to attend to it directly,” Obrador announced.

He also said that he will pursue commitments from the US and Canada to invest in Mexico to reduce immigration, and to talk about ways the US can help Mexico deal with the drug cartels.

The former mayor of Mexico City also discussed his plan to stop building a new airport there at a cost of $13 billion. Obrador said the country will protect investments.

After the news conference Obrador put Nieto’s nearly new luxury Dreamliner presidential jet up for sale. He is also planning on selling the majority of the federal government’s planes and helicopters. When Obrador flies for work, he prefers to travel coach. He is also turning the ostentatious Los Pinos residence, used by all of Mexico’s presidents since the 1930s, into a cultural center. Obrador says he will find a more modest living space.

J. Crew Head Departing

James Brett, an experienced executive who has been the CEO of J. Crew Group since summer 2017, is leaving the retail clothing company.

The decision for Brett to leave was mutual and pointed to the fact that the parties were “unable to bridge (their) beliefs on how to continue to evolve all aspects of the company.”

The Departure comes in the wake of a brand relaunch which has already proven to show some improvement in the company’s bottom line.

Representatives of J.Crew said four senior internal executives will take over Brett’s responsibilities, including Michael Nicholson, the company’s current president and chief operating officer.

Brett replaced Mickey Drexler in 2017 when he left the company after a long tenure there. Previous to his stint at J.Crew Brett was the head of the furniture chain West Elm.

In a statement the company declared that Brett had boosted the energy level at J.Crew and “enhanced (their) ability to relate to a broad range of consumers.”

In the statement that Brett released he said, “Returning J.Crew to its iconic status required reinventing the brand to reflect the America of today with a more expansive, more inclusive fashion concept.”

Plan Your Business Trip to Be Convenient and Efficient

Despite the fact that communication over vast distances has never been so easy, businesses can still accomplish more during face to face meetings than over Skype, emails, or telephone. That means businessmen/women are called on to move their real-life bodies to distant locations, and when they get there, they need to be in tip top condition for those intense negotiations and hard-won agreements.

Rule number one is to plan your trip as in advance as possible. You can lock-in on airfares and hotel prices, choose your seating and accommodations, while reducing the pressure from deadlines and competing events such as conventions.

Once your flights are arranged, now you are free to book accommodations. We always look for centrally located, comfortable and reasonably priced hotels with the best possible ratings and reputations. Among our favorites is the Crowne Plaza Rosemont Chicago Hotel and Conference Center. The Crowne Plaza Rosemont is near O’Hare International Airport; has spacious rooms; great service; and easy access to the rest of the city. Heading for Hong Kong? One of the many hotels to choose from for a great business experience is the Crowne Plaza Causeway Bay. Have an important meeting coming up in London? Consider staying in style at the Four Seasons Hotel at Ten Trinity Square. This hotel is rated exceptional and is the perfect balance of luxury and convenience.

Once you have your itinerary and accommodations, now you are free to plan your meetings and get to know the best way to travel about in the city you are heading to. Don’t forget to bring all your necessities like your tablet, laptop, phone, and all the various chargers and cases to keep you running at full speed ahead during your entire stay.

Prepare for you meetings worry-free, knowing that you have planned a great trip which will no doubt contribute to its, and your, success.

David Michery and Clean Transportation

Clean transportation provides a solution to the challenges of air pollution and unhealthy vehicular emissions. It’s a cause that many car companies are making a priority. David Michery, CEO of Mullen Technologies, a company that manufactures and distributes eco-friendly cars, is a leader in the field of clean transportation.

“The congestion and pollution we have been experiencing have been issues across the globe, it is not our problem only,” says David Michery.  “We have therefore prioritized studying innovation overseas in order to develop high quality and efficient solutions.” Cutting-edge, holistic solutions to the clean air crisis include manufacturing electric vehicles that use state of the art battery and energy technologies.

Although many consumers feel strongly about clean transportation, they find themselves bound by their budgets: many electric vehicles cost an upwards of 100,000 dollars. Electric vehicles tend to be luxury cars; driving an electric car is often viewed as a status symbol, reserved for the wealthy.

David Michery recognizes this reality and is pioneering a novel concept: affordable, clean transportation. “We are uniquely focusing on clean tech at an affordable price,” says Michery. “Clean transportation is good for everyone and should not become a luxury.”

David Michery, with his strong background of success, is uniquely poised to champion the cause of clean transportation. After working in the music industry for 27 years and producing more than a dozen gold or platinum records, Michery now channels his energies into the cause of clean transportation.

As the affordability of electric vehicles increases, clean transportation can become a reality.

 

China’s Singles’ Day Breaks Records Again

In the United States online consumers let loose on Cyber Monday; and in China shoppers

An illustration for the Chinese e-commerce holiday Singles’ Day. Courtesy Chrionexfleckeri1350.

run wild on what is known there as “Singles’ Day.” This year Singles’ Day saw online shoppers shell out over $14 billion within only the first two hours of commencement, flying past last year’s record of $25 billion in sales for the entire 24 hours.

Singles’ Day began ten years ago as a bit of a joke when unmarried students honored  choose November 11, the eleventh day of the eleventh month, or also known as “Double 11” day to celebrate their own single status. The ad hoc holiday was co-opted by retailers, creating a day of online buying and sales.

China’s own version of Twitter, Weibo, was swarming wit

h posts about Singles’ Day; some saying how proud they were to have resisted the temptation to make a purchase, while others bragged about the great deals they got.

Jack Ma, the founder of Alibaba, the platform where the crazy commerce took place, said that Singles Day is “not a day of discounts, but rather a day of gratitude. Speaking in a video which was shown at the start of the party celebrating the event he added, “It’s when retailers use the best products and best prices to show their gratitude to our consumers.”

Not everyone agrees that Singles’ Day is a day of gratitude. One economics professor, Hong Tao of Beijing Technology and Business University, said that the event encourages consumers to prefer cheap prices over high quality, causing them to buy things they definitely do not need.

“People are swept up in the festivities,” Hong said in a phone interview. “This burst of consumption, confined to just one day, can be exhausting for both buyers and sellers.”

There is also a negative environmental impact to all the unneeded buying. Although Alibaba and its close competitor JD.com have both promised to use packaging that is recyclable, research done by Greenpeace East Asia said much of the plastic that is marked as biodegradable and used by Chinese online sellers, really needs extremely high temperatures in order to fully break down. Those recycling facilities are scattered across China, and in small numbers. Greenpeace said that they are forecasting that within just two years this so-called “biodegradable” packaging might account for about 721 truckloads of garbage produced every single day in China.