Scan Me If You Can
You may recall the hit movie “Catch Me If You Can” that recounted the exploits of teenage scammer Frank Abagnale (played by Leonardo DiCaprio) who, before being caught by an FBI agent ( played by Tom Hanks), impersonated airline pilots, doctors and lawyers in course of stealing sizeable amounts of money.
After serving prison time in Europe and the US, Abagnale was recruited to work for the FBI and subsequently has enjoyed a successful career helping people and companies from falling victim to, well, con artists like Frank Abagnale. In a recent interview, he relates that we live in “the golden age of scamming” and shares some common and surprising ways we set ourselves up to be fleeced.
Abagnale now has a regular podcast on personal security on the AARP website, but don’t think seniors are the most targeted group. In researching his new book he found that millennials are more likely to be taken in than seniors. He’s written several books advising governments and business but “Scam Me If You Can” is his first book for consumers and it might go a long way to keeping you and your money together!
Fresh Eyes
One of the best opportunities a new employee presents, at least for a while, is a pair of “fresh eyes” to look at your company while their previous employment is fresh in his or her mind and before they become inculcated into your prevailing culture. An even better opportunity is when a former employer returns. To wit: the late Steve Jobs.
You’ll recall that in 1985 Steve Jobs was fired from the company he founded and during his absence from Apple founded NEXT and Pixar. He returned as CEO to Apple in 1997 and introduced a string of ground-breaking products including the ipod and iphone.
Jobs made dramatic changes almost immediately upon his return. Check out this 1997 video of him addressing the employees about what he had done , and why, after three weeks back at the helm and the mindset change that he dubbed “Think Different” that catalyzed the company’s amazing success since.
It may not be practical to fire yourself, which is one reason why some CEOs take Sabbaticals for a few months. In some cases, this enables them to look at the company at least with “fresher” eyes upon their return.
That Disruptive Piggly Wiggly
Some businesses are so ubiquitous that it’s easy to believe they’ve always existed in their current form. Grocery stores are a prime example.
To be sure there is enormous disruption happening in the grocery sphere; witness Wal-Mart’s growing dominance, Amazon’s purchase of Whole Food and the desperate fight of well- established firms like Kroger to remain relevant through innovations like home delivery and centralized warehousing that demand significant capital expenditures.
As significant as today’s changes are, perhaps the one that may have been most disruptive was the day that a southern grocery chain dramatically cut back its service level ….and thereby unleashed unprecedented growth for itself and the industry.
Take a moment for this short article from Smithsonian Magazine and learn how sometimes “less” can end up meaning “more”… much more, as evidenced by that disruptive Piggly Wiggly. You can also learn why the founder chose its unusual name!
Dog House 2.0
The increasing importance of pets ( and what we’ll spend on them) is no secret. But a recent post on CNBC underscores just how important pets have become in the context of the most important financial decision that most of us make: the purchase of a home.
For Millennial’s in particular, the suitability of a new home is being driven by some remarkable considerations surrounding pets. Contractors, realtors and other home related businesses take note: Millennial’s put pets first when buying a home.
Econ Recon:
Labor Days: Economist Brian Wesbury spend part of his recent holiday weekend reflecting on the state of the US labor market. For a brief recap of where the labor markets currently stand, check out his recent blog posting “Labor Days.”
Battlefields in the War for Talent: Economist Richard Florida rose to fame a few years back with his analysis of the dynamics of what he calls “the creative class” , a class of workers that are truly driving the post-industrial era. (This class includes 40 million US workers, many young and all highly educated).
Dr. Florida recently authored a four part series exploring a key employment consideration for the members of this class: where they choose to live. The city you’ve chosen for your business may or may not be the city that “the creative class” would choose to live in…and according to Florida, “The Fasting Growing US Cities Aren’t What You Think” Important battlefields in the war for talent.