Similarities Between China’s Stock Market Crash And 1929 Are Eerie


peoples trust toronto

Submitted by Money Morning’s David Zeiler via Contra Corner blog,

For students of history, the China stock market crash looks eerily familiar.

It?s playing out much like the Wall Street stock market crash of 1929.

In case you?ve been distracted by such things as the Greek debt crisis and a bizarre glitch that shut down the New York Stock Exchange for more than three hours Wednesday, the Chinese stock market has been in a free fall lately.

Although it rebounded late last week thanks to more government intervention, the Shanghai Composite Index has shed 29% over the past month.

An equivalent loss for theDow Jones Industrial Average would be a drop of more than 5,100. Paper losses already exceed $3.25 trillion.

This follows a dramatic run-up of 150% in the 12 months leading up to mid-June.

That?s disturbing enough, given how interdependent the global economy is…

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The Price We Pay for Art


Teacups and Tyrants-Viewing today through the light of the past

Today I went to the DeYoung Museum here in San Francisco to see an exhibit of paintings by J.M.W. Turner. It seemed a good way to take my mind off the painful thoughts about the terrorism in South Carolina this week. Some subjects are too painful to think about for very long, so I needed a break and joined the people eager to see the new exhibit of paintings.

Turner’s colorful paintings fill the galleries with light and the visitors crowded around each painting seemed absorbed in soaking up the color and vibrant emotion of the works. Turner was a British landscape painter, probably the best painter

Burning of the Houses of Parliament Burning of the Houses of Parliament

England ever produced. Born in 1775, he began exhibiting his paintings early and continuing to develop and expand his talents throughout his life. His landscapes changed from being fairly straightforward presentations of natural scenes in the…

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This TV broadcaster may put its shows on Apple’s rumored cable killer


Fortune

Television broadcaster CBS [fortune-stock symbol=”CBS”] will likely sign onto Apple’s rumored streaming TV service, giving viewers access to marquee shows like Big Bang Theory and NCIS.

Speaking on-stage at the Code tech conference near Los Angeles, CBS CEO Les Moonves said that his network will “probably” sign a deal with Apple to be part of the service. Apple [fortune-stock symbol=”AAPL”] is said to be preparing a streaming TV service that will bundle shows and channels that people normally get through cable providers.

“We’re very excited about it,” he said, adding that he met last week with Apple’s VP of Internet software and services, Eddy Cue. The conversations are still ongoing, however, and nothing’s set in stone yet.

While the service is still being developed and its release has reportedly been delayed, it could become a success. Television viewers are increasingly balking at shelling out big bucks for hundreds of…

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The one perk that will guarantee employee happiness


Fortune

The Leadership Insider network is an online community where the most thoughtful and influential people in business contribute answers to timely questions about careers and leadership. Today’s answer to the question “How do you keep your best employees?” is by Ryan Harwood, CEO of PureWow.

Employee retention is vital to the success of any companybig or small. Losing key employees to the business is draining, both mentally and physically. Recruiting the right replacement can take a great deal of time, in addition to causing a huge disruption in your workflow. While there is no magic formula for keeping your best employees, you can certainly instill behaviors to increase your odds of retaining your best talent:

Be transparent
First and foremost, always be honest with yourself and your employees. If you’re making a decision or implementing a new policy, make sure you explain the rationale behind…

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Why this is the only state where unemployment is up


Fortune

A few years ago, as the U.S. unemployment rates flirted with the double digits, North Dakota bucked the trend. Its oil and gas boom kept jobless rates as low as 2.7%.

But now North Dakota is standing out for the opposite reason: it’s the only state where unemployment is rising.

The Bureau of Labor Statistics’s latest unemployment report Wednesday found that North Dakota was the only state with a significant year-over-the-year increase in joblessness. In April, unemployment there rose 0.4% from the same month in 2014.

Twenty-eight states had statistically significant unemployment rate declines in that period, with Michigan’s 2.1% being the largest. The other 21 states and the District of Columbia had rates that were not appreciably different from those of a year earlier, according to the report.

Though it’s difficult to know for sure, sinking oil prices is likely to blame for North Dakota’s increase in joblessness. The…

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Three startups that want to steal Avon’s look


Fortune

Although a fake takeover bid recently led to a spike in Avon [fortune-stock symbol=”AVP”] stock, the longtime cosmetics powerhouse built by millions of local “Avon ladies” has been slowly declining. After years as the top global direct sales company, Avon slipped out of that spot in 2014. The company’s revenue declined 20% last year to $8.85 billion, from a peak of $11.1 billion in 2011, and after a lengthy probe into corruption in its China operations, Avon agreed to pay a $135 million settlement.

So, are we looking at the end of the era in which women purchased beauty products from friends and neighbors who sold door-to-door? Not necessarily. There are a number of young, upstart companies that are trying to succeed using the Avon model—albeit with modern twists such as selling via social media.

“The idea of women sharing something they’re passionate about with other women works better…

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Target CEO (almost) says thank you to Amazon for the wake-up call


Fortune

Well, that was magnanimous.

Target [fortune-stock symbol=”TGT”] CEO Brian Cornell came close this week to thanking Amazon [fortune-stock symbol=”AMZN”] for fundamentally changing how people shop, a profound shift the discount retailer was late in seeing coming and is still scrambling to take advantage of.

Amazon’s dominance in digital retail has been a wake-up call to brick-and-mortar retailers that shoppers will shop on their own terms, but also a revelation to those traditional retailers that their stores needn’t be albatrosses in the e-commerce era.

“We almost need to say thank you to Amazon. They have taught the American consumer to shop online, but they don’t own that relationship,” Cornell said at Re/code’s Code Conference on Wednesday.

Last quarter, Target’s online sales amounted to 2.8% of revenue, up substantially from a year earlier (2.1%) but still well below what it could have been if the retailer had been more alert to e-commerce’s…

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