Sun brings us light, moon brings us inspiration, looking at the sun without keeping out of the sunshine, you will become a blindman, looking at the moon without covering your eyes, you will become a poet.
Alcohole is a liquid of this type: it can preserve everything except for privacy.
Bachel0rs are those who can go to bed from both side of the bed.
A friend of mine sent me the 2007 horoscopes the other day. I found it very amusing not only because of its stylish expression and all the fine words to me, precisely speaking, to all Taurus people, but its somehow veracious description of my character. That is why I was kind of believe in what it says, and therefore chuckled to myself at its conclusion–Lucky Taurus is going to experience a happy piggy`s year.
Taurus` 2007 overview: “Optimism will help you break out of any routines that you want to be free of this year. Focusing on your idealistic approach to life will afford you exciting new opportunities in education and travel. “
As a journalist-to-be with her critical eyes, potimism will help everybody break out of any routines, not only the Taurus people, so basically the first sentence is sort of cliche but should be bear in mind anytime. What interests me is the second one. It says Taurus people tend to be idealistic in their lives. According to Collins Cobuild dictionary, if you describe someone as idealistic, you mean that they have ideals, and based on their behaviour on these ideals, even though this may be impractical. So how can I be afforded “exciting new opportunities in education and travel” when I live my life based on “impractical ideals”? I am very confused. Anyone can give me an convincing explanation??
Taurus 2007 Career: “This is an ideal year for you to excel in a service occupation, most likely healthcare. You make a significant contribution toward creating a more loving world, based on humanitarian ideals.” It also said: “Your work must be spiritually satisfying to be interesting and motivating, and this is a promising time to make that a daily reality.”
I could not help laughing when I saw the fist two sentence. Am I really the sister Teresa type of person? I show sympathy to those homeless dying people in Kolkata, but I will not bring them home and take care of them myself, as many people will not do. This is why I am not sister Teresa, and why there is only one sister Teresa in this world and she deserves the admiration from all of us.
Yet the third sentense is quite true to me. The reason I study journalism is not necessary because that I can change the world with my pen, but that I can be “spiritually satisfied” by knowing the world better. How does the globalisation affect the world economy and our daily lives? How do the politicians fool us around by playing dirty games? How can we be worldly wise and make ourselves safe in this world of unrest? All these questions are journalists` concern and by knowing which better, we may understand how the world runs better.
That is the reason I am excited about the courses in MAIJ, and can`t wait the coming of next semester. Although I may not be qualified enough to be a journalist after the courses, but I believe that I will definitely be smarter to understand the world better. “This is a promising time to make that a daily reality”, said the astrology. I should have a liitle faith that I will have an Lucky piggy`s year!
See your piggy`s year astrology prediction here.
Thai Salad 
Roasted Pork
Roasted Gigot
This is the big dinner that takes 8 hours.
My fisrt real Christmas, bye bye….
There is none a businessman who doesn`t want to adventure in nowadays China, one of the world`s fastest-growing markets. So does Diageo, the world`s leading spirits company who owns famous brands like Guinness, Johnnie Walker, Smirnoff vodka etc..
I know nothing about Diageo plc before I was allocated to write an report about it for Gary. However, I do know the brand Johnnie Walker. Its ad in China impressed me much. “You are young and sucessful. Why not enjoy them?” “Them” refers to luxuary saloon car, gorgeous, premium drinks…Pure persuasion of splashing money for luxury goods.
The ad exposed human being`s desire of money and social status without hesitation. Indeed, more and more Chinese people are striving to earn more money and climing up for higher social status. But the ad`s unveiling our inner desire is still hardly accepted by most of us, at least not by me. “The ad is of sheer capitalism,” I thought.
It is a brand coming from a UK company called Diageo, who is itching to enter China, one of the world`s fast-growing whisky market. “Tailored for the Chinese market, the campaign relied on the idea that Chinese people are not content simply with the fact of their achievements but often seek the acknowledgment of their peers…Chinese consumers like to signal their success more overtly than those in many other countries,” said the company.
Is that ture? I believe it is true to a certain extent. We are so eager to become stronger that sometimes we crave for greatness and success too much. From leaders in government to staffs in company, they tend to boast of their achievements by druming up in media and of course, splashing wines on table–the greater success they achieve, the more expensive wine they splash.
Interestingly enough, Diageo does know Chinese consumers very well! The first, and most strategically important consumers for Diageo are “Guanxi men”–status-driven 35 to 45-year-olds for whom business entertainning plays a big role. The second are “strong independent women” aged 35 to 45-year-olds. The third group is “upward mobiles”–25 to 35-year-olds men and women who want to be seen at the cutting edge. The last group, the “choice generation”, are early twentysomethings who are eager to explore and experence something new.
Diageo introduced its strategy for expanding in China two years ago. Now Johnnie Walker has 34% of the Chinese whisky market. And there is definitely much for it to play for. According to the Scotch Whisky Association, whisky exports to China rose from 1.5m pounds in 2001 to 46m last year–almost 40 times more!!
I can`t help thinking: China is indeed a huge market!!!
But, another naive thought flashed into my mind: where do Chinese people earn that much money to afford the luxuary drinks like Johnnie Walker? It must be somewhere. I hope the day that most of us can afford Johnnie Walker is coming, rather than enjoyed exclusively by the “guanxi men”.
PS. All facts coming from FT Nov. 14 2006
It is time to write something to memorize my several “first times” in UK: my first Christmas in UK, my fist New Year in UK and my first long-distance journey in
UK.
The way UK people spend their Christmas reminds me of the way we spend in Chinese New Year, and what is more interesting, reminds me of how different people in West and East express love.
Experience in London leaves me an impressive memory of this city–having a taste of red wine under the moon near Tower bridge, damn romantic despite the freezing cold wind.
I`ve got more to say about my Scotland journey. Acting like a real backpacker, hit by the fabulous old architectures in Edinburgh, immersed in the grand lanscape in Highland and met some interesting people in hostel, I got to fall in love with travelling.
“Home”
Micheal Buble
Another summer day
Has come and gone away
In Paris and Rome
But I wanna go home
MmmmmmmmMaybe surrounded by
A million people I
Still feel all alone
I just wanna go home
Babe I miss you, you know And I`ve been keeping all the letters that I wrote to you
Each one a line or two
I`m fine baby, how are you??but Well I would send them but I know that it`s just not enough
My words were cold and flat
And you deserve more than that
Another aeroplane
Another sunny place
I`m lucky I know
But I wanna go home
Mmmm, I`ve got to go home
Let me go home
‘Cause I`m just too far from where you are
I wanna come home
And I feel just like I`m living someone else`s life
It`s like I just stepped outside
When everything was going right
And I know just why you could not
Come along with me
That this is not your dream
But you always believed in me
Another winter day has come
And gone away
In even Paris and Rome
And I wanna go home
Let me go home
And I`m surrounded by
A million people I
Still feel all alone
Oh, let me go home
Oh, I miss you, you know
Let me go home
I`ve had my run
Baby, I`m done
I gotta go home
Let me go home
It will all be all right
I`ll be home tonight
I`m coming back home
Today my friend asked me if we are too stressful. I couldn`t quite understand why she suddenly asked me a question like that. But I do feel a little bit depressed, not because that I can not follow the courses but I didn`t manage to do it better when I can. Yes. I caught myself that the reason for me to feel stressful is that I am not working hard enough.
To be honest, I don`t think I am a desperate-to-work-hard type from the first day of school, not until the legendary last year in senior middle school when I prepared for the university entrance exam. As you may know, the university entrance exam is such a big deal for the young people in China that many of us see it as the first turning point in our lives–key university is a guarantee of smart brains, better capability and therefore decent jobs.
My memory of that year is somewhat vague now–it was such an torturous experience that my mind choose to forget it. Get up at 6 am and go to bed at 1 am everyday; all we do in a day is study, study and study; all (nearly all) of the spare time is contributed to memorizing, exercise and tests; our only aim and solitary goal at that year is higher score. I feel like exhausting all my buget of hard working in my whole life in that year.
It is absolutely not a pleasant experience, but strangely, I am now kind of miss the desperate me at that time. I blame myself for not working hard enough sometime. I don`t know if it is because of I am a Chinese, I feel very guilty for not studying hard, especially when I study here, overseas. I am study for nobody but myself. I should have taken more responsibility on my shoulder and done better.
Human beings are prone to live a comfortable life, we spontaneously avoid the pressure in front of us. Shamfully, I often indulge myself of not working hard with an excuse of “no need to push yourself to be excellent”. True. I may feel better with such an excuse when I fail, but sounds more like a loser. So why not work hard and fail honorablely?
Luckily, there are almost ten days for me to think about how to work hard and work smartly in the future. I felt sad to stay here for Christmas a minute ago, but now I am stuffed of plans for study. Sometimes study is one man job, you need to be calm and “lonelyness-proof” to absorb knowledge, like what I did in the last year of senior middle school.
Working hard or not? We all know the answer.
Diageo’s heroes remain cautious due to the multiple challenges in the “uncertain world” even when its investors are cheering for the company’s impressive performance this year.
Since formed from the merger of Guinness and Grand Metropolitan in 1997, Diageo has been committing itself to building up premium brands and enlarging its size by setting foot in food industry.
With the successful operations on the top lines like Smirnoff, Johnnie Walker and Guinness, Diageo’s venture in Burger King, however, turned out to be its heartburn, rather than exhilarant. The world leading distiller didn’t really impressed the City until two years ago when the company, under the leadership of new CEO Paul Walsh, disposed of non-core businesses such as Burger King and Pillsbury and refocused on quality alcohol brands.
Chart 1: Diageo five years share price changes
This shift is clearly depicted in the company`s five year share price changes. (see chart one) Diageo`s share price climbed up by one third over the last five years, from 750p per share in 2002 to about 1000p now.
The year of 2005 is an obvious turning point. Before that, the share price experienced a significant fall by 40% in the first quarter of 2002 and reached a trough of around 575p in spring 2003. The company then spent two years recovering. Not until at the beginning of 2005 did the share price managed to regain the same level in 2002. After that, the share price grew remarkably by 30% in two years time and hit a three-and-half-year high of nearly 1000p in November 2006.
If the considerable trading volume in 2002 means that shareholders can not wait to sell Diageo`s shares in their hands, the enormous trading volumes in 2005 and 2006 may suggest that the investors have faith in making good money by means of buying and selling Diageo`s value-increasing shares.
This rebound of share price is largely because of Burger King’s sale in 2004. The share price change tells the story that the company’s decision of focusing spirits business has doubtlessly earned the respect of many City followers who admire its size and ambition.
Generally speaking, Diageo has outpaced the market quite nicely in the past five years despite all the ups and downs. As chart one shows, the company’s shares have been trading at a price that is roughly 5% or more higher than that of FTSE 100`s, which strongly indicates that Diageo is likely to be a buy.
Chart 2: Diageo Turnover[1] and Operating Profit[2] Growth Rate
Again, Diageo`s turnover and operating profit growth in the last five years reflect the investors` behaviors in capitalist market.
The total turnover declined dramatically by 18% from ￡10900 million in 2002 to ￡8891 million in 2004. In the following 2005 and 2006 fiscal year, the revenue pick up by 2% and 7% relatively. The revenue decreased by 11% in the last five years.
This is partly due to Diageo`s transformation into a pure drinks company by means of selling its food sections like Pillsbury and Burger King in 2000. Despite the sales made the company’s share price bullish, the overall revenue were in downward tendency due to the lack of food section’s contribution in 2001 to 2004.
However, this did not bother the distiller to increase its turnover of premium drinks in that period, up moderately by 1% to 3% each year. Growth soared by 7% to ￡9704 million in the year ended 30 June 2006, compared to that of ￡9036 million in 2005,[3] thanks to the company’s strong sales in North America and International markets.
Likewise, 2005 is also the key fiscal year for Diageo to turn the table of its operating profit. The company’s operating profit (before exceptional items) had been decreasing for three successive years from ￡2000 million in 2002 to ￡1911 million in 2004. But the figure then increased by 2% and 5% relatively in 2005 and 2006.
This rebound attributes to the significant rises in operating profit of Diageo`s three markets—North America, Europe and International market. In 2006 fiscal year, the profits of both the North America and Europe grow 6% and the figure of International market is 9%. Notably, the profit of the worsening European market rises by 6% while the revenue of this region falls by 1% in 2006, as the result of 4% down in marketing investment.
Besides, Diageo achieves profit growth through successful operating cost control, through which 7% of employees are dismissed in three years time.[4]
The earnings per share show similar changes to the revenue and profit ups and downs. Diageo`s EPS enjoys a rocket rise in 2006 fiscal years through its buy backs programme, increasing by 45% from 46.3p in 2005 to 67.2p in 2006.
While investors have largely chased shares in high-growth companies for the last year or so, the mood is now shifting in favor of steady companies with strong cash flows.[5] Diageo produced free cash flow in 2003, as well as paying out a very responsible dividend through its buy backs scheme. Hence, even though earnings growth is not impressive enough in the last five year, the group can still attract the City followers` attention.
The company is likely to continue fueling its buy backs scheme through strong cash flow. Paul Walsh, the chief executive officer of the company, promised to increase shareholders benefits with￡1.4 billion buy backs in 2007 fiscal year.[6]
Chart 3: Geography Sales Comparison
Despite the good news from buy back programme, the investors should bear in mind of a variety of factors that may influence the company’s performance, such as economic and political conditions of different markets (terrorism, airport, Lebanon), substantial competitors, consumer preferences, changes in the legal and regulatory environment and so on. Geographic revenue growth and brands strength, among others, are the keys to boost Diageo`s capitalist market.
Diageo`s shareholders may be somewhat disappointed by the 7% organic sales growth forecast of 2007 fiscal year, which is in line of this years performance, announced by Mr. Walsh in August.[7] But the cautious estimate comes for reasons.
North America has been Diageo`s single profit growth contributor for the last five years. However, the profits from this market were hit by rising oil prices and the impact of last year’s hurricanes in the southern states.[8] What’s worse, the slowdown of America’s economy and weak greenback hit revenue and profit growth and are likely to post serious threat to the company in the future.
European and Ireland, in contrast to North American market, has long been Diageo`s hard nut to crack. Ireland is suffering due to the combined pressures of a smoking ban in bars, increases in duty and a shift in drinkers` tastes away from Guinness. Continental Europe is also difficult. Sluggish economic growth, weak consumer spending power and stiff competition from cheap own-label spirits is holding back consumption. The group had also been hit by the downturn in ready-to-drink volumes.
Duty-free sales of International market, which were showing strong double-digit growth before, are hit by terror alerts in August and new airport security measures. Its sales are not better than flat now.
Besides, the company suffers from changes in legislation and fierce competition. In recent years, there has been increased social and political attention directed to the beverage alcohol industry. At least nine nearly identical putative class actions are pending in state and federal courts in the
United States against Diageo. Pernod Ricard, its major rival, took over Allied Domecq last year, which has brought together two rivals.
Although all these downsides make Diageo`s leaders tread on eggs, there are optimistic aspects for its shareholders to hold on to. Turnover of International market, as chart 3 shows, contributes 29% of the distiller’s premium drinks revenue in 2006, 3% increase in contrast to that of 2004, offsetting the 3% decline of share in Europe. The fast-growing BRIC regions become Diageo`s increasingly significant growth engines. It is benefiting from its investment in emerging markets such as Russia and China, where its sales increased 80%. Mr. Paul Walsh expects sales to those countries to be“extremely profitable in the future”, sales volumes in the BRIC markets could double over the next few years.
To be fair, as in a mature, low-growth consumer goods industry, Diageo is performing pretty impressive in 2006 fiscal year. Taking into account its incomparable market capitalization, dividend yield, the industry-leading position, and the well-known brands, such as Smirnoff, Johnnie Walker and Guinness, Diageo is likely to be the investors` way to go.
For the fist time after it shed excessive fat and craving for a focused spirits business, Diageo finally shows some signs of strong growth and outpaces its rival Pernod in recent two years. Facing the same extrinsic uncertainty such as political and economic conditions, the drinks giant seems to outperform others a little bit due to its big size and spadeful of world famous brands. It is now just about to get back on the track of world leading distiller that is worthy of its name.(1526 words)
[1] Total turnover comprises of continuing operations (incomes from premium drinks), and discontinued operations (incomes from other investments).
[2] Operating profit here is total operating profit before exceptional items.
[3] Facts come from 2005 Annual report P.4 Five year information.
[4] 2005 Annual Report.
[5] Investors Chronicle—September 10 2004
[6] Press release—February 1 2006
[7] The Independent—September 1 2006
[8] BBC: Diageo warns over hurricane woes—November 15 2005
[9] The Times—September 1 2006
[10] 2006 Annual Report P. 20
Don’t even expect Islamic women will take off their veils and burn their bras.
Harold Gafo, has recently suggested that women from the developing world, in particular Islamic countries, have a lot to learn from women in liberal western democracies. Here comes another Jack Straw to provoke yet another intense debate on Islamic women. The question this time is, in essence, whether the western women’s formula of feminism suits women in developing countries, especially those in Islamic ones?
Women in most developing countries are no longer excluded legally from education, employment or female suffrage nowadays, but to what extend do they actually achieve the equal rights?
It has long been challenged by western feminists for some developing countries, notably Islamic ones, for their rigid restrictions of female domesticity, sexual purity and chastity towards women, not to mention western condemnation of female enslavement, such as harem, veil and polygamy[1]. There are still some Muslim girls abused by their brothers because they are not submissive enough; some others are pressed into marrying virtual strangers because it suits their parents. Even after hundreds of years of fighting for equal rights, women in the third world can still hardly be powerful enough to have their voices heard.
Women in western society, in contrast, seem to enjoy far more liberty. But they pay a high price for it. Western women, under the two-tier pressure of poor economy and oppression of religion, spontaneously launched feminism without main stream society’s support. They demonstrated, fasted, burnt their bras, and released themselves from sexuality. It is their perseverance and bitter fight against inequality for hundreds of years that enable them to enjoy abundant fruit now.
Compared to their counterparts in West, feminists in developing countries are passive and moderate, which is denounced by some radical western feminists as the root of making less progress in women liberation. Feminism in the Islamic world was initiated and led by liberal male gurus, rather than by Muslim women themselves. Likewise, women in China also fight for their rights under the lead of the communist party.
Here comes the sticking point. True. Feminism of developing countries dose not bear as much fruit as that of the West due to its mild countermeasures against governors. But the problem is, to be critical, that would it be possible for women in developing nations learn identically from western women to fight for their rights?
To Islamic women, Islam is not only a political and social system but a culture they experience in daily life. They have a deep-rooted concept that exposing their body and engaging in homosexuality are irresponsible to themselves and their family—which in turn are signs of sexual liberty in the eyes of western women. Mr. Gafo should not forget the veil issue. People in western democracies view the veil as an indication of sexual oppression, while Islam women themselves see it as identity of nationality—how can they abandon their nationality and culture just for not being confined in kitchen?
Similarly, eastern developing countries, influenced by Confucianism, share the same ideas that random sex and single parent families are far from being acceptable. Women in Confucianism countries emphasize the importance of close family ties and complete family, and they believe those values are the assurance of the society’s stability.
Conversely, western societies are suffering somewhat from serious social problems caused by too much indulgence in the name of freedom, such as breakdown of family values, high youth pregnancy rate due to causal sexuality and drug and drink abuse.
Feminism is bound to develop under certain economic political and cultural circumstance. Without the sparkplug of liberal leaders in Islamic countries, the gender revolution could not even happen due to the hard-handed hierarchy. There is definitely not a formula suits every country.
There is no denying that women in western democracies play a leading role in women’s liberation. However, it does not mean that women from developing countries or Islamic countries should follow exactly their western counterparts` path in fighting for their rights—they will never strive for liberty by burning their bras. Mr. Gafo and Jake Straw, as well as people living in liberal democracies, shall not forget to take cultural and social context into consideration when they make judgments.
[1] Haideh Moghissi. 1999. Feminism and Islamic fundamentalism: the limits of postmodern analysis. P. 36
