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Oct 26, 2011
@ 10:20 am
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Has the African Union got Libya wrong?


The joke always used to be that the ‘U’ in the African Union’s predecessor, the OAU, stood for useless. After the hopeless failure of African diplomatic efforts to bring a peaceful end to Libya’s rebellion against Muammar Gaddafi, and even more since the bloc held back on recognising the new Libyan rulers, critics suggest the African Union could be making itself irrelevant. But is the African Union wrong to treat the anti-Gaddafi forces with more caution than their Western allies and the Arab world has done even if the former rebels seem to have widespread support for ending an autocrat’s rule? There are plenty of reasons why the African Union would be reluctant to recognise the rebels who overthrew a man who did as much as anyone to found the African Union in place of the ineffectual club called the Organisation of African Unity. Many individuals African rulers benefited from Gaddafi’s largesse – particularly when they were in trouble – allowing them to get over any queasiness at his comic theatre at African summits and his coronation as Africa’s “King of Kings” as well as to humour his quest for a “United States of Africa”. For South Africa’s ruling ANC, Gaddafi was a friend during the struggle against apartheid. For Zimbabwe’s President Robert Mugabe, who expelled the Libyan ambassador after he switched sides this week, help has been much more recent. Some autocrats may also fear that the example set by the overthrow of Gaddafi could inspire opponents in their own countries. For the African Union – and South Africa in particular – there was the embarrassment of seeing peace efforts (no matter how well intended) dismissed internationally while the rebels fought towards Tripoli under the NATO air cover which made their war possible. It’s not that there is a fully united front in Africa. Increasingly assertive giant Nigeria, striving to set itself out as a champion of democracy, was quick to recognise Libya’s new rulers. West Africans have not forgotten the hundreds of thousands who perished in Gaddafi-fuelled wars in Liberia, Sierra Leone and elsewhere either. But might there be sound reasons less tied to history and emotional links for African countries to be wary of leaping to recognise the rebels? First may be the treatment of black Libyans and Africans from south of the Sahara, reported by Amnesty International this week, but evident since the start of the rebellion. While there certainly seems to be truth that some African mercenaries fought for Gaddafi, there have been plenty of reports of black Africans being killed or tortured when it wasn’t really clear whether they were fighters or just part of the army of hundreds of thousands of Africans who made their way to Libya to do hard jobs that Libyans didn’t want. For some, as explained in this Reuters report on Algeria, there is the suspicion of Islamist links among the anti-Gaddafi forces. The African Union’s Democracy Charter is also clear that those who takes power by force should be sanctioned not welcomed (although it could be interpreted that this applies to democratically elected governments, which Gaddafi’s certainly wasn’t). Hypocritical it may be for those African leaders who first took power by force to now insist that others should not do so, but the African Union has condemned coups and rebellions elsewhere and suspended countries until they held elections. That has undoubtedly helped make clear that taking power by force should not be the workaday means of changing government that it once was in Africa. Should the African Union treat the Libyans differently to forces that took power elsewhere even if they appear to have popular support and promise democracy? The African Union will probably recognise Libya’s new leadership in the end, if only because it would be impractical to do otherwise, but is the caution justified? Is it just holding off because of wounded pride over failed peace efforts and ties to old friend Gaddafi?


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Oct 13, 2011
@ 9:16 am
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Management Tip of the Day: The three networks you need


“The old adage ‘It’s not what you know, it’s who you know’ is truer than ever in today’s organizations. But how do you know whom to know?Here are three types of networks it pays to have:1. Personal support. Form relationships with people who help you get back on track during a bad day. These may be friends or colleagues with whom you can just be yourself.2. Purpose. Include in your network bosses and customers who validate your work, and family members and other stakeholders who remind you that your work has a broader meaning.3. Work/life balance. Seek out people who will hold you accountable for activities that improve your physical health, mental engagement, or spiritual well-being.”- Today’s management tip was adapted from “A Smarter Way to Network” by Rob Cross and Robert Thomas.(For the full post, see: here).


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Oct 12, 2011
@ 3:55 am
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Wall St Journal Europe publisher quits over ethics


Dow Jones said Langhoff had ultimate responsibility and opted to resign.”We no longer have a relationship with ELP. Because Dow Jones has zero tolerance for even the appearance of a breach of ethical standards,” Dow Jones said in a statement.It said the paper has posted a clarification on two WSJ Europe Special Report articles related to the matter.The clarification says that the articles were written in connection with a now-expired agreement between the Circulation Department of The Wall Street Journal Europe and Executive Learning Partnership that wasn’t disclosed to readers.A Dow Jones spokeswoman did not immediately respond to requests for further details.News Corp and Dow Jones are especially sensitive to any appearance of impropriety or ethical missteps following the fallout from the phone hacking at its UK tabloid News of the World, which was closed down in July.Langhoff, who became publisher of WSJ Europe in January 2009, based in London, had previously been the chief executive of newspaper publisher Ottaway.Dow Jones is a competitor to Thomson Reuters .


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Oct 12, 2011
@ 3:55 am
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Wall St Journal Europe publisher quits over ethics


Dow Jones said Langhoff had ultimate responsibility and opted to resign.”We no longer have a relationship with ELP. Because Dow Jones has zero tolerance for even the appearance of a breach of ethical standards,” Dow Jones said in a statement.It said the paper has posted a clarification on two WSJ Europe Special Report articles related to the matter.The clarification says that the articles were written in connection with a now-expired agreement between the Circulation Department of The Wall Street Journal Europe and Executive Learning Partnership that wasn’t disclosed to readers.A Dow Jones spokeswoman did not immediately respond to requests for further details.News Corp and Dow Jones are especially sensitive to any appearance of impropriety or ethical missteps following the fallout from the phone hacking at its UK tabloid News of the World, which was closed down in July.Langhoff, who became publisher of WSJ Europe in January 2009, based in London, had previously been the chief executive of newspaper publisher Ottaway.Dow Jones is a competitor to Thomson Reuters .


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Oct 11, 2011
@ 1:12 pm
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UPDATE 1-Market Chatter — Corporate finance press digest


* The administrator in charge of Saab’s restructuring under court protection could pull the plug on the process as early as Tuesday, paving the way for declaring the auto maker bankrupt, daily newspaper Svenska Dagbladet said.* U.S. hedge fund Longacre Fund Management LLC is shutting down its main funds after investors pulled out their cash, in a sign that market turmoil is having an impact on some hedge funds, media reports said.* Influential oil trader Gunvor has cut its share of Russia’s seaborne oil exports to less than 20 percent, one of the firm’s founders told business daily Vedomosti.* A bid by Chinese firm Hanlong Mining to take over Australia’s Sundance Resources will be held up by Australia’s Foreign Investment Review Board (FIRB) until an insider-trading probe is completed, the Sydney Morning Herald said.


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Oct 11, 2011
@ 12:56 pm
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Day after wedding, McCartney announces tour dates


McCartney then travels to Italy, France and Germany, heads back to Britain for a night at London’s O2 Arena on December 5, takes in Sweden, Finland and Russia before ending the year with a concert in Manchester on December 19 and Liverpool the next day.”Playing live is one of the most exciting parts of my job,” the musician said in a statement released Monday.”My audiences seem to get better each year and the band and I love the buzz and feedback that they give us. I can’t wait to see you all for some wild nights of rock n’ roll and partying.”McCartney married Shevell, 51, Sunday in London and the newlyweds celebrated with a low-key reception at his home in the city.The “Hey Jude” singer also recently unveiled his first ever ballet score, “Ocean’s Kingdom,” in New York.