Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Saturday, March 25, 2017

Biz: JBDC Workshop Unlocks "a Hill of Beans"

Jamaica Business Development Corporation (JBDC) executives were witnesses to the launch of the National Grow Castor Bean Project on Wednesday March 22, 2017 at the Terra Nova Hotel in Kingston. The Project is being managed by the Urban and Rural Ministry of the Jamaica Baptist Union Mission Agency, which used the occasion to announce the start of the project being funded by an overseas donor to the tune of US198,000 or approximately J$25 million, bringing the total grants approved under the JBDC’s Tapping into Donor Funds Proposal Writing Workshop® to $127 million.
“This project has been over three years in the making and JBDC played a significant role in helping us to get to this point. I was a participant of the inaugural Proposal Writing Workshop in 2013. The Mandeville representative, Mrs. Terry-Ann Clahar-Weir has also worked closely with members of our church in business planning,” explained Dr. Judith A. Johnston, Community Development Specialist & Social Entrepreneur.
Dr. Johnston says the funding will enable the organization to put the first 400 acres (of the 1000 acre target) of castor bean into production. So far, 80 farmers have signed on to participate in the project which is being implemented in ten (10) parishes. Dr. Johnston estimates that there will be approximately 200 participants when the remaining acres are used.
“Often times, we see other produce failing because there’s no market. They invest and it comes to nothing. What we want to do is engage our farmers in things that have a value-added component, so whether it’s the castor beans, breadfruit or cassava there are value-added products to be derived such as oil and flour,” she said.
Castor-5
Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Daryl Vaz ( 2nd left), examines a bag of castor beans being shown to him by Project Director of the Jamaica Baptist Union’s (JBU) Grow Castor Bean Project, Dr Judith Johnston (2nd right). Occasion was the official launch of the initiative at the Terra Nova All-Suite Hotel in St Andrew on Wednesday. Others looking on (from left): are Chief of Operations at the Jamaica National Bank, Janice Robinson Longmore; and JBU General Secretary, Karl Johnson. (Photo: JIS)
Dr. Johnston says with the help of the Ministry of Investment, Commerce, Agriculture & Fisheries the organization has also been approved for technical assistance by the Mexican Agency for International Development Co-operation (AMEXCID), details of which they await.
“This is a major achievement for the Workshop, as it indicates that our primary objective is being met. Access to funding is a major challenge for entrepreneurs and social enterprises. As a result, the JBDC has been developing and implementing programmes that will build our clients’ capacity to succeed. Proposal writing can be an intimidating task for the applicant and that proposal once submitted will undergo intense scrutiny by the potential donor. So we developed a product to address that need,” explained Lisa Taylor-Stone, Project Management & Research Development Manager – JBDC.
To date, close to 300 participants representing SMEs, public sector entities and social groups have been trained.

The methodology that guides the implementation of the Workshop comprises: 20 hours of learning delivered over three days and eight (8) hours of post-workshop coaching and mentoring delivered over two weeks.
Last year, the Workshop was officially trademarked by the Jamaica Intellectual Property Organization (JIPO) and accredited by UK-based awarding body, Institute of Leadership and Management (ILM). ILM is the leading provider of leadership and management qualifications in the UK and part of the wider City and Guilds Group: a global leader in skills development.

Thursday, October 27, 2016

Music: The "Twin Towers" of the Record Biz

- from Quartz
Lyor Cohen and Jimmy Iovine.

Cohen, who’s about to take over a crucial part of YouTube’s business, and Iovine, now Apple’s music guru, by all accounts should have crashed to the ground alongside the music industry’s antiquated business model—the way the executives who ran Nokia and Blackberry have been tossed aside by the smartphone revolution. But they did the opposite. So who are these two men, and how’d they pull off the near-impossible?

Apple’s true music genius

In-House Mentor Jimmy Iovine takes part in a panel discussion for the show "American Idol" at the Fox Broadcasting Company Winter Press Tour 2011 for the Television Critics Association in Pasadena, California January 11, 2011.  REUTERS/Lucy Nicholson (UNITED STATES - Tags: ENTERTAINMENT) - RTXWG5M
“Pharrell even told me go with the safest bet, Jimmy Iovine offered a safety net.” (Reuters/Lucy Nicholson)
Jimmy Iovine’s name is instantly recognizable to most hardcore music fans—and not just for its oddly off-beat catchiness.

The record-producer-turned-executive began his career as a recording engineer back in the 1970s, occasionally getting to work with acts like Bruce Springsteen, Patti Smith, and John Lennon. He collected enough cred to eventually found the label Interscope Records in 1990, which was about to go under until it decided to release an album by a small-time producer named Dr. Dre. Soon, Interscope would have acts like Snoop Doggy Dogg and Tupac Shakur on its books.

Along the way, the words “Jimmy Iovine” became somewhat synonymous with the music industry itself. (In 2012, Macklemore and Ryan Lewis recorded a song about record labels and artist exploitation that was literally titled “Jimmy Iovine.”)

But Iovine didn’t sit contently as the head of Interscope, watching the traditional industry’s profits crumble. In 2008, Iovine made his next big move—forming the designer headphones brand Beats with Dr. Dre, selling oversized headphones when minimal earphones were the trend.

Beats, by selling its products as trendy fashion statements, promptly took over nearly half of the entire headphone industry’s market share, and it also pushed into the online music space in 2013. Then, the company—headphones and nascent streaming service and all—was swallowed up by Apple in 2014 in its biggest-ever acquisition.

And that’s when Iovine took his most significant career leap.

Apple didn’t just snag a headphones business; the tech giant scored Iovine’s special knack for making smart bets in the business as a whole. For it was years prior—way before Beats was even put together—that Iovine had already started trying to convince Apple founder Steve Jobs to move into the relatively new field of all-you-can-eat music streaming, where players like Swedish service Spotify (but not many others) had nestled in. Said Iovine in a 2013 interview:

I was always trying to push Steve into subscription. And he wasn’t keen on it right away. [Beats co-founder] Luke Wood and I spent about three years trying to talk him into it.
Iovine’s hunch proved solid. Streaming is now the biggest revenue-driver in the US music industry, and globally, profits from digital platforms have officially overtaken physical ones for the first time. It was last summer that Apple finally took Iovine’s long-nagging advice, unveiling its own subscription streaming service Apple Music–headed, of course, by Iovine, who is now one of the company’s top executives.

Monday, October 17, 2016

Business: Through trademark, Tecg Gants keep Jamaica ahead of the product curve

Apple’s product launches are notoriously secretive, but the Cupertino, California tech giant is sure to do one thing ahead of a big reveal: file trademark paperwork in Jamaica.
It did this for Siri, the Apple Watch, macOS, and dozens of its major products months before the equivalent paperwork was lodged in the United States. Likewise, Google, Amazon, and Microsoft routinely file trademarks for their most important products in locales far flung from Silicon Valley and Seattle. These include Jamaica, Tonga, Iceland, South Africa, and Trinidad and Tobago—places where trademark authorities don’t maintain easily searchable databases.

The tech giants are exploiting a US trademark-law provision that lets them effectively claim a trademark in secret. Under this provision, once a mark is lodged with an intellectual property office outside the US, the firm has six months to file it with the US Patent and Trademark Office (USPTO). When the firm does file in the US, it can point to its original application made abroad to show that it has a priority claim on the mark.

In the meantime, though, the provision prevents competitors from guessing at a firm’s product plans from public filings. “Competitors could search, ‘What has Apple filed for? What are they thinking about?'” says Nehal Madhani of legal-software provider Alt Legal, who has researched the issue. Think of it as arbitraging global intellectual-property laws.

The filings made overseas aren’t, of course, actually secret—they’re just not easy to access if you can’t go in person. For instance, the Jamaica Intellectual Property Office allows visitors to search filings in person at its office in Kingston. People can also ask the office to search filings for them, but a Jamaican address is required to receive the results, and the process takes three weeks. A lawyer in Jamaica, however, can be appointed to perform the search, the office told Quartz. It said it has no current plans to put its filings database online. Alt Legal compiled a list of 65 other countries with offline trademark databases like Jamaica’s.

Each tech company seems to prefer a particular country for its trademark applications. We compiled registration data going back to 2010 on Amazon, Apple, Google, and Microsoft, and charted the countries where they first filed trademarks:

Friday, September 9, 2016

Business: at FLOW, Good News Quickly Becomes Bad News

apologies to the band, Modest mouse, for the headline



"wish me luck"

FLOW CEO Garfield "Garry" Sinclair was heard to appeal for fortune and providence via his staffers.

he knew he was going to need them.

indeed, Sinclair was not even  through his famously polished annual summary before the heckling started.

What started as sporadic 'fire" turned into an all-out assault on the telecoms giant. ironic, since the CEO's spiel included news of a profit - the first in a decade (nine AGMs exactly) and, at a billion-and-change, quite a sprucy performance.

but the shareholders, punch-drunk from the "long winter of discontent" were in no mood to cut the CEO and the Board (with new Chairman mark Kerr-Jarrett at the helm) any slack in the face of the classic "fightin' words" : No Dividend.

Noted minority shareholder activist orett Staple flatly told the directors that he did NOT believe there was a profit, raising the unsavoury (and, in my view unfounded) implication that the Board had signed off on a cooking of the books.

After a near three-hour shellacking, culminating in a rejection of the company motion to retain auditors KPMG and set Auditors' remuneration, it was clear that Sinclair's wish was not going to be granted, except to say that he was lucky to have survived.

With darkness descending on Kingston's Knutsfoed Court, the much-anticipated raffle brought some sorely needed levity to a nightthat none on the head table will be anxious to repeat, especially with the fresh spectre of a first-quarter loss now hanging over the enterprise.

We have high hopes for a FLOW rebound (subject to the revealed intentions of new corporate parent, Liberty Global), but we can't resist going out with another Modest Mouse title (look them up  http://modestmouse.com/):



We Were Doomed Even Before the Ship Even Sank

Wednesday, July 20, 2016

Where WorDs WandEr, an etymology hit

The origin of the phrase is unknown.[1] It has been attributed to Warren Buffett[2] since in Buffett's first fund he raised $105,000 from 11 doctors, himself placing a token sum of $100.00 as his "skin in the game";Legendary etymologist  William Safire dispelled the Buffett origin.[5]
Another possible - and more palatable -  explanation is that the phrase draws its origins from William Shakespeare's The Merchant of Venice, in which the antagonist, Shylock, stipulates that the protagonist, Antonio, must promise a pound of his own flesh as collateral, to be exacted by Shylock in the event that Antonio's friend Bassanio defaults on the loan to which Antonio is guarantor.

Tuesday, July 19, 2016

Business: Joe's Holdings, Bogdanovich partners with Evan Williams to build Renfrew in New Kingston


Entertainment mogul Joe Bogdanovich may not speak much, but when he does, he certainly gets attention.

And so it was yesterday evening that the DownSound Records founder-CEO, who's recently added Usain Bolt's Tracks and Records and the Reggae Sumfest brand to his growing portfolio, pulled Government ministers, business interests and the merely curious to his latest foray,

poised to rise on one of the last undeveloped tracts of land in New Kingston   (it formerly housed the street art collective Trafalgar Artists), the Renfrew (see model photo) is being pitched as Kingston's first true Extended stay hotel.

Bogdnaovich and the equally reticent Evan Williams, design chief and project partner took guests, including Tourist Board Director Paul Pennicooke and commercial security trail blazer Kenny Benjamin, as well as Ministers Vaz, Shaw and Chuck through the nuts and bolts of the development.

Expected completion date of October 2017 puts the Renfrew right a the crest of the winter tourist season, although their clientele won't in the main be recreational.


Tuesday, July 5, 2016

Music: A long, data-driven and ultimately essential examination of the pop album


The Long Play: The Death and Resurrection of the Pop Album

The Long Play: The Death and Resurrection of the Pop Album

For the past decade, the usual cadre of music industry prognosticators—critics, label chiefs, technologists—have been predicting that the album format would go the way of the pocket calculator. The digital music services’ retail model, where songs can be purchased a la carte, put emphasis on individual tracks, while the rise of streaming services such as Spotify ensured that future music fans would discover music via algorithmically engineered, mood-based playlists based on weather patterns, the time of day, or perhaps the region, varietal, and vintage of whatever wine they’re sipping on.
This was going to be awesome. Consumers would not only get to listen only to what they wanted—foregoing the meddling non-single tracks that frequently pad out pop albums—but they wouldn’t even have to decide what they wanted. Music would be more than a mere cultural/artistic artifact and serve a greater utilitarian good as we all schlepped towards the great tomorrow.
This was also going to be a boon for artists. Creating an album is hard work, and counter-intuitive to our test/learn/iterate millennial mindset. In the new world, creators would release music as they made it—probably sometime between a late brunch and an early tea time—and distribute it directly to their fans, thus satisfying the needs of their tech masters with a steady stream of content for both Facebook’s feed and Youtube’s anarchic sea of audio. There are even those who’ve advised artists to stop releasing albums altogether.
But something funny happened on our way to this new utopia: The album refused to die. Sure, artists like Taylor Swift and Justin Beiber continued to exemplify the traditional, singles-oriented methodology, but there also emerged a new path: releasing thematically cohesive, aesthetically ambitious albums that were a callback to the the long-players of bygones eras, but are distributed in a way that plays into the strengths of the digital marketplace.
This year, pop music’s own rapping, purring super friends, Drake, Rihanna, Kanye, Chance, and Beyonce, all released major “statement” albums—cohesive, oftentimes challenging bodies of work—that have not only succeeded commercially but have also set the hearts of critics, fans, and general well-wishers aflutter. Though these artists still occasionally release proper “singles,” many of the top tracks on streaming services are their album tracks, and their primary focus is creating bold bodies of work. Collectively, these releases demonstrate that the album format is not only alive, but more viable than it’s been in years, and for reasons that no one could have predicted.
mainchart (2)
***
A number of factors have contributed to the reemergence of the album format, but one of the most important is the consolidation of pop music. For the week of June 18th, Drake alone had four songs in top 50 Billboard’s songs chart, and only one of these, “One Dance,” was a traditional single. The charts for individual streaming services are even more extreme. As of June 12th, 2016, eight of the top 10 songs on Apple Music belonged to Drake, and there was a grand total of 18 artists in the service’s top 50. The idea that streaming music would engender the long tail model—with the democratization of digital distribution and consumption providing the death knell to pop’s Illuminati—was grossly overstated. In 2013, the last year this data was available, the top 1% of the artists accounted for 77% of the profits.
Turns out that when offered unlimited access to the entire corpus of recorded music, we really just want to listen to that new Kanye jam. This, of course, has further emboldened Kanye. For him, and artists like him, there’s no need for gatekeepers, or even the traditional media apparatus. Collectively, Kanye, Beyonce, Drake, Kendrick, and Rihanna have 444 million followers on social media. If these fans decided to band together to create their own Popland, they’d be the third largest nation in the world (and probably the most fun, though also definitely the most dysfunctional).
Another key factor is the emergence of the surprise album as the dominant release strategy for pop’s elite. In the past year alone, David Bowie, Chance the Rapper, Beyoncé, Kanye West, Kendrick Lamar, James Blake, Rihanna, and Radiohead have all issued albums with little to no warning. Of the top 50 tracks in Apple Music, 36 of those came from albums that had non-traditional release strategies.
For our ancestors living in the year 2006, the surprise release would’ve been unthinkable (it’d be like trying to imagine leaders who didn’t obsessively tweet). In those days, the more diffuse distribution channels ensured that keeping a major album release secret would’ve been nearly impossible, and the success of a given album depended on the marketing apparatus behind it, the infrastructure provided by the radio, press, and more traditional, consumer-facing marketing. These are the institutional equivalents of the flip-phone: The basic services they provide still exist, but they’ve been transformed to the point where they are indistinguishable from their previous incarnations. Add to this social media users’ dwindling attention spans, and the ease of release that the digital music service’s offer, and it’s clear to see why this has been the default strategy for superstars.
A lot has been written about what all the above means for the business of music, for the artists who create these albums, the labels who distribute them, and the services that sell them, but very little has been offered on what this means for the music that these artists create. As a vessel for the music, the album format has its own requirements, and a model that emphasizes the sudden appearance of an album, sometimes sans singles, puts even more pressure on this format.
Artists are adapting to this new reality, and this is a good thing. All of the artists mentioned above—Rihanna, Beyonce, Kendrick Lamar, Kanye West and Drake—are responding to these market forces, as well as perhaps their own internal muse, and releasing albums that are more holistic, and frequently more sonically adventurous and thematically complex. If anyone needed proof that the Death of the Album narrative is itself dead, he or she need only look at how the above five artists have been rewarded—both commercially and critically—by embracing full length albums.
chart2 (1)
***
It’s still only June, but an inarguable frontrunner for album-of-the-year contention is Beyonce’s Lemonade. It also may end up being one of the year’s most commercially successful, albeit not according to traditional metrics like album sales.  
Like many albums these days, Lemonade took an unusual path to the listener. After the airing of the movie that inspired the album on HBO, the record was released exclusively on Tidal on April 23rd. The street date was unannounced, but it was not a complete surprise for the Beyhive. Beyonce released a lead-off single, “Formation,” a few weeks before, and had even performed the track at the Superbowl.
What was surprising was the music itself. The album was “of a piece,” as they say, and many of the mechanisms she used deftly recalled what, until recently, seemed like a bygone era. The accompanying movie called to mind The Beatles Hard Day’s Night or Michael Jackson’s Moonwalker, while the album’s narrative thread, with its details of a romantic dissolution, resembled autobiographical, confessional works such as Marvin Gaye’s Here, My Dear or Fleetwood Mac’s Rumors. Politics also served as a thematic undercurrent. Tracks such as “Formation” and “Freedom” updated black nationalist rhetoric with themes of police brutality and female empowerment.  
However, the album’s production was perhaps the most startling element. As where her first few albums drew almost entirely from pop, hip-hop, and R&B, Lemonadewas broader, more worldly, and included contributions from James Blake, The Weeknd, Kendrick Lamar, Diplo, Jack White, and MNEK, as well as samples or interpolations from Led Zeppelin, Yeah Yeah Yeahs, Animal Collective, and the great Puerto Rican psych band Kaleidoscope. All told, the album’s 3,105 word liner notes listed 60 writers and 22 producers over the course of its 11 tracks. As a point of comparison, her 2003 debut, B-Day, included 32 writers and 11 producers over its 15 tracks. Of course, using a wide range of talent, spread over multiple genres, does not ensure success. In fact, it could’ve just as easily been a horrible mess (see:Chinese Democracy). But Beyonce was able to craft an album where the whole felt much greater than the sum of its parts. It was the latest pop release with novelistic ambitions, which was evidenced by the fact that there were only two singles, as where her previous five albums averaged four apiece.
But did this approach work? It’s tricky to measure the commercial success ofLemonade; the goalposts have moved a bit. As where the main objective of previous releases was strictly album sales—the traditional approach—the primary business goal for Lemonade was to increase the number of subscribers to Tidal, which is owned by Bey’s husband Jay-Z. According to Tidal, Lemonade brought in 1.2 million new subscribers to the service. These numbers are tricky as they include free trailers, but Tidal has claimed that a whopping 70% of these users converted to the paying tier. This number seems inflated, but even it it were half that, it would mean the addition of 420,000 subscribers, with an Average Revenue Per User of $118 (check the math here). According to these calculations, Beyonce brought $49,560,0009 in additional value to the service. These are back-of-the-napkin numbers, and only a fraction of this will go into either Jay-Z or Beyonce’s pockets, but they’re impressive nevertheless.
BEY copy
Meanwhile, the critical acclaim for that album has been clear and nearly universal. Among the 19 publications we surveyed, the album received a median score of 90, which is not only the highest score of any major pop release of this year, but also the highest of her career, registering at nearly 50% higher than the score of her debut, 2003’sDangerously In Love.
There are a lot of possible explanations for this: Music criticism has become more pop-oriented in the last 13 years, and it’s also come to celebrate the themes of female empowerment that Beyonce so wholeheartedly embraces. But it’s also hard to ignore the obvious: Beyonce released the most artistically ambitious and thematically cohesive work of her career. She not only did this because she’s a dynamic, evolving artist, but because market forces allowed her to release this type of album and still remain commercially viable.
Beyonce wasn’t the only one to figure this out. Rihanna, Drake, Kendrick Lamar, and Kanye also recently put out albums that defied expectations for what pop music is supposed to sound like. They’re all very different artists, with different aesthetic goals and thematic palettes, but there are a few through-lines that echo with what we saw from Beyonce. Each of their recent albums have been wildly ambitious and shattered the idea of genre; they delve into deeper, more personal themes that evolve over the course of the album; and, most notably, each represents a holistic collection of work, rather than a smorgasbord of singles and potential singles (a configuration that largely dominated pop albums of the ‘00s).
Each of these four albums was also released via nontraditional means. It’s hard to succinctly sum up Kanye’s release strategy, or even to verify that there was a strategy, but it’s accurate to say that the release date was in constant flux and that his album, like Lemonade, was also released exclusively to Tidal. Similarly, Drake’s album was initially an Apple exclusive, and Kendrick Lamar and Rihanna’s albums were both surprise releases. All of them also rejected the notion that singles are the primary driver for album sales. For these four artists historically, they averaged around three top-40 singles per album, as where, collectively, their four recent albums produced only five top 40 singles.
Rihanna scored the highest critical scores of her career with the prickly yet addictiveAnti. Her median score of 78.5 represented an 18% increase from her previous album, and over a 50% increase from her debut. Similar to Lemonade, many critics noted that Anti represented a departure from the sounds and subjects of her previous work. It’s charm, according to Entertainment Weekly, resided in its ability to eschew the “soaring, Grey-Goose-and-glowstick anthems that constitute her career’s foundation.”
Kendrick copy
Similarly, both of Kendrick Lamar’s most recent albums, 2015 To Pimp A Butterfly and this year’sUntitlted.Unmastered received exceptionally high marks (90 and 84.13, respectively), and where both met with broad commercial success without a hit song. Kendrick is an interesting example as perhaps no other mainstream album of the past 15 years feels as cohesive, complicated and ultimately satisfying as the surprise-release To Pimp a Butterfly, but, unlike Rihanna, Beyonce, or Kanye, this wasn’t a release by a seasoned vet who had earned the commercial success to experiment. His previous major label effort, 2013’s good kid, m.a.a.d. city, was also a wildly ambitious, conceptually experimental album. Kendrick came of age in the era of the surprise release and has perhaps internalized these new rules.
Drake, however, received more mixed reviews for his latest album Views. With a median score of 70, it was the poorest showing of his career. On the surface, that album was also very ambitious. With a rich, sonic palette that swung between lush strings and the more skeletal ambience of alternative R&B, it largely rejected the notion of genre, while its lyrics painted a portrait of romantic desolation amidst material excess. But these were themes that Drake had been mining for quite some time, and the backlash was not a result of critics rejecting Drake’s ambition, but rather a rejection of him slavishly revisiting the same themes on release after release. Sequels in pop music are acceptable and even cool (The Carter III was one of the best albums of its generation), but our Canadian lothario can’t continue to blow up his own Death Star at the end of every album and get critical daps.
This  re-emphasis on the album format may be  a temporary aberration — certainly the single format isn’t going anywhere, nor should it; pop music has always been about songs, and it will continue to be so. Still, success begets success, and albums such as Lemonade and Anti have broadened the possibilities of the genre. Artists, if the chose, now have a larger canvas to work on, and more room to explore their creative visions. For artists such as Beyonce or Kanye, this is a liberating. And, for fans of these artists, it will result in richer listening experience.

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