The World Business

Archive for December, 2010

A judge granted the request of the Mexican consortium Vitro, the largest glass producer in the country to start a bankruptcy process to negotiate debt restructuring with foreign creditors for a thousand 500 million dollars, the company reported today .

“The Fourth District Court in civil matters and work in Monterrey, Nuevo Leon, consented to the application of insolvency prior to the restructuring plan submitted by Vitro,” the company said in a statement sent to the Mexican Stock Exchange.  At the end of the third quarter of this year, Vitro had gross borrowings per thousand 706 million dollars, of which 90% is denominated in dollars, yet 86% are contracted at fixed rates.  According to various media, now seeks to restructure debt Vitro by a thousand $ 515 million to foreign creditors and a thousand other $ 900 million and its subsidiaries.

He added that this measure can go directly to the conciliation stage and that soon be given the stage of having credit and then vote on the agreement” proposed.  Sanchez said the restructuring plan submitted by Vitro debt helps the company move ahead as soon as possible and opens a more expeditious than some funds intended for minority whose interests differ from the majority. He indicated that the process will help the company to raise the value of the investment of greater value to the new debt and give the company more viable. The company, founded in 1909, is the leading manufacturer of glass products for industrial, domestic construction and Mexico and has facilities and distribution centers in 10 countries in America and Europe, and exports to 50 nations.

Social networking has become part of everyday life most of World’s population. Site Facebook, Twitter, Foursquare and the others are already so familiar in the ears of active Internet. Social networking was not only a means of socializing in virtual but extended to other aspects, such as business, society, environment and so forth. The focus of each social networking service providers also varies. Among the wilderness of the social networking site, comes Planely. This site is based in Denmark. What is different from Planely when compared with sites of other social networking? Planely give air travelers who use the path an alternative way to travel.

Planely service users will be offered in order to become acquainted with each other during the trip, especially with visitors who have traveled the exact same route. Users only have to enter for free, or simply by connecting the site with the account up it has.

To use this free service, users must enter details of flight schedule. Planely will then process the data and provide information about anyone other Planely users who boarded the same flight with your airline, or other Planely users who come or go in the same time at the airport the same (although different plane). From there, users can choose someone they find attractive to be a friend during the trip. After that, they can contact each other to meet and get acquainted. Planely are developing a new feature that allows users to find out whether they will travel together with people who know or not that user.

Malaysia has a rich man by Forbes Magazine Malaysia 2010, Robert Kuok. The magazine noted, Robert wealth reached U.S. $ 14.5 billion this year. Malaysian tycoon was a business in various fields, ranging from enterprise rice, sugar, shipping services, real estate and media. In 2007, he also went into palm oil companies resulting from the merger of Indonesia and Singapore, Wilmar International which carried his nephew.

Robert who is now aged 86 has a fascinating story how he pioneered the business from the bottom. Robert Kuok began life by working at Mitsubishi for 3 years in the shipping division of rice. After his father died in 1948, three brothers founded the company with the name of the Kuok Bros Sdn Bhd. The company specialized in selling agricultural products, and success in 1961 when he bought a cheap sugar from India, where the price is then inflated.

He then founded the Malaysia Sugar Manufacturing, the company’s first sugar refinery in Malaysia. It made Robert has many relationships with big players and refined sugar. In the same year, he built the first hotel in Singapore, Shangri-La Hotel, and after that he built Shanri-La Kowloon in Hong Kong. Not stopping there, Robert also acquired 30 percent stake Sucden Kerry International, a French company that controls much of the world sugar trade.

Then get into the business of oil trading, by buying 67 percent shares of oil trading company of Hamburg. Not only that money was also invested into the media business, by buying 18 percent shares of TVB, which publishes the South China Morning Star.

Strategic management is not just a course that is taught in most business majors at many colleges. This is a method used by the entrepreneur or business owner to plan and execute its business success. Strategic management class include the conception and use of marketing, personnel arrangements, outsourcing, public awareness of social programs, and many other factors that are part of good business management.

Vision. This vision includes the hope for the company in the market in the short and long term, as well as what role taken by the company in society or even in the nation. Keeping your business vision in mind will determine how you manage other aspects of the company.

Methods to Achieve Vision. Once you have a vision in your company, you must find a way to achieve it. This included introducing the company to as many people, driving sales, retain customers or build locations or other franchises. Finding an appropriate method and suitable for your business is a difficult aspect of strategic management. Easy to find what you want, but it’s very difficult to know how to achieve that desire. The methods can be used the change in personnel, outsourcing, marketing and advertising, and investment.

Execution Method. Strategic management not only includes planning and brainstorming, but also implements the ideas and methods that you currently have. For example, once you decide the best method would you use to boost sales in your business, such as advertising or marketing plan, good management also requires the implementation of the plan. This could be a principle that is difficult because often require capital investment or changes in the company.

Adjusting Vision. Other strategic management principle is to adjust the vision with the circumstances that surround your business. Because market conditions can affect your business, it is necessary to adjust the vision. Similarly, market conditions, technology is also constantly changing. Your business requires a periodic adjustment for the company remain competitive in the market in which he moves.