How Bear Stearns Lost Its Way

By all rights, this should be a Bear Stearns moment. Investors are skittish, and Wall Street players are unsure what to do next — precisely the conditions under which the scrappy independent has traditionally thrived.Its bare-knuckle approach to the mundane business of trading, especially complicated debt securities, made it the classic countercyclical play — successful in up markets, stellar in downturns. Bear is a link to Wall Street’s past, when brokerages survived more on their moxie than on their spreadsheets.

Read the full article in CnnMoney.com

Economy Sound – Despite Housing Risk

The nation’s budget deficit will shrink to $158 billion this fiscal year, the Congressional Budget Office said Thursday, much lower than a March estimate of $177 billion, due mainly to strong economic growth.In its latest review of the budget, the nonpartisan agency forecast the deficit for fiscal 2008, which begins Oct. 1, at $155 billion, up from its March estimate of $113 billion.

Read the full article in CnnMoney.com

Are Americans Too Lazy?

We Americans pride ourselves on being a hard-working bunch, so here’s a thought to spoil your Labor Day rest: By global standards, we’re lazy. We’ve been getting lazier. And the days of the American dolce vita may be numbered.The surprising report of our relative sloth arrives in new research from the UN’s International Labor Organization, which looks at working hours around the world. When it comes to what we might call hard work, meaning the proportion of workers who put in more than 48 hours a week, America is near the bottom of the heap. About 18% of our employed people work that much

Read the full article in CnnMoney.com

Courts Gone Wild

Any American who watches TV or reads a newspaper has probably heard about the Washington, D.C., dry cleaner who allegedly lost Roy Pearson’s suit pants and was sued by Pearson–a D.C. judge–for $67 million, including $500,000 for “emotional damages.”

While bizarre, to be sure, stories like this are increasingly common. A rampaging squirrel, for example, allegedly attacked Marcy Meckler in the courtyard of a Chicago mall. Did Meckler call animal control? No. She sued the mall for $50,000.

Read the full article in Forbes.com

Do You Have A Chindia Strategy?

There is no hotter topic in the high-tech industry than the impact of China and India on the industry and the world at large. If you are a strategist or a decision maker in almost any enterprise, anywhere in the world, you see the impact of India and China in new waves of technology products and services in events, decisions and strategies featured on corporate Web sites and in international news coverage.

Read the full article in Forbes.com

International Intelligence

American companies seeking to expand internationally ought to do a better job of placing non-Americans on their boards to help guide them, says J. Frank Brown, newly appointed dean of INSEAD, the international business school, with campuses in France and Singapore.

Directorship’s editor in chief, William J. Holstein, recently spoke with Brown about the need for international perspectives and why there are so few Chinese and Indian directors on American corporate boards.

Read the full article in Forbes.com

Driving Growth In Consumer Goods

A study of 480 product launches by North American consumer goods makers highlights the ability of certain marketing tactics to help spur revenue growth. The findings suggest that manufacturers should take a harder look at repositioning products toward new consumer segments, uses and occasions–particularly at times when truly innovative, or breakthrough, products seem few and far between.

Read the full article in Forbes.com

Linux Boom Ahead?

The SCO Group frightened potential business users away from Linux with lawsuits demanding billions in royalties. But the litigious company’s claims were shot down in a ruling that will likely boost uptake of the operating system.

U.S. District Judge Dale Kimball ruled late Friday that Novell (nasdaq: NOVL – news – people ) owns copyrights covering Unix, a computer operating system. In 1995, Novell licensed Unix source code to Santa Cruz Operation, which later became SCO. SCO argued it had also picked up Unix copyrights from the transaction. (See: “Big ‘No’ To SCO”)

The ruling is a huge setback to SCO’s claim it should be paid billions in royalties by International Business Machines. SCO says that International Business Machines (nyse: IBM – news – people ) took code from Unix for use in Linux, another operating system. Shares of SCO Group (nasdaq: SCOX – news – people ) plummeted 72.8%, or $1.13, to 43 cents. Practically all of SCO’s business is Unix-related.

Read the full article in Forbes.com

Will Growth Slow Corruption In India?

Now that India is playing an ever larger role in the world economy, the issue of corruption, in both the private and public sectors, is coming into sharper focus. Two scenarios are possible: As India’s multinational corporations develop both economic and political muscle, they may act as a broom, sweeping corruption from the economic sphere.

On the other hand, entrenched practices may prove the stronger force, and corruption could end up being a significant brake on India’s economic rise.

Read the full article in Forbes.com

Find Free Wifi Hotspots

User this tool on Forbes.com to find free wifi hot spots in your area!

http://forbes.anchorfree.com

The Best States For Business

You use its products every day–when you take a cross-country flight on a Boeing jet, when you sip your morning Starbucks coffee, when you order the latest Harry Potter book from Amazon.com and when you use the Microsoft operating system on your PC. Washington state is home to these companies and more, befitting the state’s tagline, “Innovation is in our nature.”

In Forbes.com’s second annual Top States for Business, Virginia may be the top-ranked state for the second straight year, but Washington is the big story. The biggest mover (tied with Tennessee), rising from 12th to fifth place, Washington is also the only state to finish in the top five in three main categories (labor, regulatory environment and growth). And Washington’s numbers are up across the board when you look both backward and at projections into the future.

http://www.forbes.com/leadership/2007/07/10/washington-virginia-utah-biz-cz_kb_0711bizstates.html

Craigslist CEO

Watch the video live on Forbes.com

From Emerging To Surging

As India celebrates 60 years of independence, it is appropriate to reflect upon our national direction, how business operates in a rapidly growing economy and some future challenges.

India is moving from the chrysalis of an “emerging” economy to a “surging” economy and becoming a center of innovation, the critical differentiator to ensure future growth for any nation today. India is working to transform its longstanding tradition of innovation into an engine of economic and social progress to create a better tomorrow for its citizens.

Read the full article in BusinessWeek.com

The Indian Media Mela

If the words “print” and “media” conjure up images of plummeting profits, shrinking readership and editors tearing their hair out as they attempt to staunch the exodus to the online universe, you clearly aren’t thinking of India.

As the country celebrates the 60th anniversary of its independence from Britain, newspapers are flourishing, with growth projections that would impress even the savviest of investors. And unlike rival market favorite China, the world’s largest democracy can boast a free press that is truly able to speak its mind, and the largest English-language speaking audience in Asia.

Read the full article in BusinessWeek.com

Russia, China or Beyond

For the past five years, Russia and China, as superpowers, seemed on the verge of winning the power and respect that had eluded them over the past century. But lately, they have discovered that they are far from immune from the troubles that have swept around the globe in the wake of America’s credit crisis.

With 10% annual economic growth rates compounding each year, and their markets doubling annually, it seemed there was no stopping them. But suddenly, the real integration of the global economy became painfully apparent. There were new questions about the continued ability of the U.S.–the world’s largest and most developed economy–to continue absorbing Chinese exports, and about America’s continued ability to continue to sop up excess quantities of crude that Russia might pour into international oil pipelines. As result, these two markets began to look somewhat less lustrous.

Read the full article in BusinessWeek.com

Big Banks, Big Bucks

In a joint statement, JPMorgan, Wachovia and Bank of America characterized the move as intended to “display the effectiveness” of the Fed’s discount window–in other words to prove there’s no stigma to borrowing from it as opposed to raising cash elsewhere, or in each of their cases, just pulling it out of a drawer.

Read the full article in BusinessWeek.com

A Permanent Ban on Internet Taxes

By all accounts, it’s fairly safe to say that Congress is not going to allow state and local taxes on Internet service, at least for the next several years.

A bill proposed by Sens. Tom Carper, D-Del., Lamar Alexander, R-Tenn., and others would extend the current tax ban until at least 2011. Other bills in both the House of Representatives and Senate, including a measure sponsored by Sen. Ron Wyden, D-Ore., would make the moratorium permanent. Previously, there had been some speculation that Congress would let the current ban expire on Nov. 1, but with so many bills in play, that no longer seems to be the case.

Read the full article in BusinessWeek.com

Want to Make Customers Stay? Talk To Them

It may sound simplistic and inefficient, especially in an age when we’d like to eliminate people from the equation, at least the high cost factor of having people involved. Yet, all the enrollment programs will not work if once your new customers are in they find no reason to stay. And there is eventually a finite number of customers to woo.

I worked alongside customer service professionals I wanted to have as friends – courteous, prompt, and with seemingly an over abundant reservoir of smarts and empathy. In B2B, customer service may either be a key component of your supply chain — taking orders and following up with your customers when billing — or an important team that supports your ongoing sales efforts — making sure people know about current programs they may need and want.

What about B2C? At least one company is bucking the trend towards automation and email by placing importance on talk. As The New York Times reported recently, Netflix has set out to provide its customers a friendly and personal experience by phone and gain loyalty while staunching potential defections. In this case, service representatives have the ability to reach out and help retain that customer.

Read the full article in FastCompany.com

Bank of America Bails Out Countrywide

Bank of America knows when it’s time to buy.

The Charlotte, N.C.-based bank is making a $2 billion equity investment in the beleaguered Countrywide Financial (nyse: CFC – news – people ), the companies said Wednesday evening.

Bank of America (nyse: BAC – news – people ) will purchase $2 billion worth of preferred Countrywide stock yielding 7.3%, and that can be converted into common stock at $18 per share, giving the mortgage lender a much-needed cash infusion amid a crippling credit crunch.

Read the full article in BusinessWeek.com

Forget Manga. Here’s Manwha

American comics connoisseurs, add this to your personal lexicon: manhwa. It’s the Korean term for comics, just as manga denotes comics from Japan, and with a host of publishers bringing new manhwa titles to the States for the first time, it’s poised to become a household word among fanboys and pop culture mavens alike.

Read the full article in BusinessWeek.com

No Housing Turn Around For Two Years?

First, it was the second half of 2007. Then it was 2008. Now analysts are saying the national housing market may not rebound until 2009

On July 25, the National Association of Realtors reported that sales of existing homes fell 3.8% in June to a seasonally adjusted annual rate of 5.75 million units, contributing to the bleak-and-getting-bleaker outlook.

Read the full article in BusinessWeek.com 

How To Hire An Ad Agency

Here’s a staggering statistic: In the month of June alone, accounts worth over $1.7 billion changed advertising agencies. And that’s only among the six largest advertising agency holding companies. It doesn’t include any of the brands that shifted their accounts to thousands of independent agencies across America.

Why so much turnover? One reason is the diminishing tenure of the chief marketing officers who hire agencies—an average of less than two years, according to one recent study. But even in companies where the marketing staff is stable, the temptation to shop for a new agency can be strong.

Read the full article in BusinessWeek.com

A Season For Cassandras

For 16 years, Stephen Roach served as chief economist at Morgan Stanley (MS) and proved to be one of the gloomiest voices on Wall Street. Take for example his July, 2005, critique of incoming Federal Reserve chairman, Ben Bernanke. Roach wrote of “the mounting pitfalls of yet another post-bubble shakeout—this one dominated by the downside of overvalued property markets and the concomitant unwinding of a potentially lethal debt cycle.”

Read the full article in BusinessWeek.com

Healthiest Housing Markets 2007

View a slideshow of the healthiest housing markets in 2007

No Stopping Chinese Stocks

Seems like nothing can cool Chinese investors’ ardor for local stocks. Despite market meltdowns in the rest of the world and moves by Beijing to dampen demand for equities, China’s stock markets are at a record high. On Aug. 22, China’s benchmark CSI 300 stock index blasted through the all-important 5000 level, shrugging off an interest-rate hike by the central government announced the previous day, to close up 78.98 points, to 5051.69. The index, which tracks the 300 most important companies listed in Shanghai and Shenzhen, has jumped 147% this year.

Read the full article in BusinessWeek.com

Wallmart Offers DRM Music Downloads

Wal-Mart‘s online music store started selling songs free of copy-protection technology Tuesday for 94 cents per tune.

The songs from the Rolling Stones, Coldplay and Maroon 5, among others, will play on most portable media devices, including Apple Inc.‘s iPod.

Although many independent music labels have for years sold their tunes without copy restrictions, major recording companies have insisted on digital-rights management, or DRM, technology in hopes of curbing online piracy.

Read the full article in Yahoo News

Economists – No Rate Cut Till September

The Federal Reserve will cut its key interest rate, probably by a quarter percentage point, but will wait until next month to do so, a news report citing a survey of economists said Wednesday.USA Today said that a majority of 37 economists surveyed Monday and Tuesday said they expected the central bank will cut its fed funds rate, which affects rates on consumer loans, by a quarter point next month. Some on Wall Street have been clamoring for more aggressive action, calling for a rate cut of a half a point before the Fed’s next meeting on Sept. 18.

Read the full article in Yahoo News

The Globalization of Giving

It’s a big world, and as Chicago’s largest businesses go global, their charitable giving is following them. Tapping new markets like China, India and Eastern Europe, many firms are expanding their community involvement to include all the places where they do business. Simply put, giving makes for good business.

Read the full article in Crains

The Teachings of India

Read this full section on Crains about doing business in India.

Ameritech, eTrade Discuss Merge

Online brokerage giants TD Ameritrade Holding Corp. and E-Trade Financial Corp. have been holding talks for weeks about a possible merger, The Wall Street Journal reported Wednesday.The discussions currently are focused on making sure both companies agree on strategy, and the companies aren’t yet close to a deal, the Journal reported, citing unnamed people familiar with the matter.

Read the full article in Yahoo Finance

FDA To Study TV Drug Advertising Methods

Federal regulators plan to study whether relaxing, upbeat images featured in TV drug ads distract consumers from warnings about the drugs’ risks.

The announcement, posted Tuesday to the Food and Drug Administration’s Web site, comes a week after a study published in the New England Journal of Medicine suggested the agency’s drug-ad enforcement has steadily declined.

Read the full article in BusinessWeek.com

Retailers Report Not So Bad

There may be a slowdown coming but somebody forgot to tell the American consumer in the second-quarter.

Target kicked off the day on Tuesday morning by telling traders that its second-quarter earnings jumped 12.6%, landing inline with analyst expectations. The company also reaffirmed its full-year guidance.

Read the full article in Forbes.com

How to Fix Walmart? Ask Its Managers

H. Lee Scott Jr., chief executive officer of Wal-Mart Stores (WMT), has been tirelessly upbeat in recent quarters even as the retailing giant has floundered through two of the most difficult years in its history. But on Aug. 14, Scott sounded downright glum as he reported financial results for the second quarter. He lowered the company’s profit forecast for the rest of the year and made no effort to conceal his disappointment with its performance. “[This] was not what we expected of ourselves,” he said (see BusinessWeek.com, 8/14/07, “Wal-Mart’s Earnings Warning”), and 8/14/07, “The Implications of Wal-Mart’s Warning”).

Read the full article in BusinessWeek.com

Now Playing On YouTube: Ads

Fifteen seconds into a rock music video on YouTube, a large pink-frosted donut rolls across the bottom of the screen, obscuring the image of the musician’s girlfriend. A beat later, a bright yellow Homer Simpson chases after the cartoon confection. The ad for an animated movie based on the popular Fox (NWS) television show contrasts sharply with the tone of the somber emo video, but it gets the message across: The Simpsons Movie is playing in theaters now.

There’s an even bigger message conveyed by Homer and his donut: For the first time, ads are playing in videos posted on Google’s (GOOG) video site, and watching clips on the world’s most popular video-sharing site may never be the same. The move to include ads with videos was expected. Ever since Google bought YouTube for $1.65 billion last October, it has said new forms of advertising were on the way (see BusinessWeek.com, 10/10/06, “YouTube’s New Deep Pockets”). Analysts say it’s a smart way to generate greater revenue from online video, but viewers may nevertheless balk at having ads clutter an in-progress clip.

Read the full article in BusinessWeek.com

So You Need A Financial Planner

After years of just scraping by, you finally have some cash to invest. You certainly have plenty of choices. A few hours online will net thousands of stock tips, fund pitches, get-rich-quick schemes, investing gimmicks, and philosophies. Offline, everyone has their own advice, including friends and family who’d love some seed money for their (probably bad) business ideas.

Read the full article in BusinessWeek.com

China Cracking The Mobile Ad Business

Advertising to the world’s largest mobile phone user-base should be a marketer’s dream. Yet China’s mobile advertising market was valued at just US$17 million last year, well below the US$40 billion spent on ads in total.

A new kind of mobile advertising technology, however, could be the key that unlocks the country’s 461 million mobile phone screens to advertisers.

Read the full article in BusinessWeek.com

Drug Advertising Debate

If Representative Henry Waxman (D-Calif.) had his way, the little butterfly used to advertise the insomnia remedy Lunesta might not be allowed to flutter all over our TV screens, as it has incessantly since the drug was approved in late 2004. Waxman believes the U.S. Food & Drug Administration should be able to forbid companies from advertising directly to consumers until new drugs have been on the market for at least three years. He tried to mandate such a restriction by attaching it to a drug-safety bill. But on July 11 he came up short. After a debate centered on drug companies’ right to free speech, the bill passed with virtually all restrictions on drug advertising stripped out (see BusinessWeek.com, 8/6/07, “Dispense with TV Drug Ads”).

Read the full article in BusinessWeek.com

How To Hire An Ad Agency

Here’s a staggering statistic: In the month of June alone, accounts worth over $1.7 billion changed advertising agencies. And that’s only among the six largest advertising agency holding companies. It doesn’t include any of the brands that shifted their accounts to thousands of independent agencies across America.

Why so much turnover? One reason is the diminishing tenure of the chief marketing officers who hire agencies—an average of less than two years, according to one recent study. But even in companies where the marketing staff is stable, the temptation to shop for a new agency can be strong.

Advertising is an exciting, visible business, and when another brand’s agency is making news, it can make their grass appear greener. Plus, it’s a business based on experience, confidence and trust. When trust breaks down, relationships end.

Read the full article in BusinessWeek.com

Resolution Better Advertising

You’ve hung a different calendar on the wall and now it’s time to think about things you might do differently this year. Whatever your personal resolutions, allow me to suggest a dozen of my own that might serve your company’s advertising well.

Read the full article in BusinessWeek.com

Advertising Goes Off The Radio

The radio industry won’t want to hear this. Advertising dollars are shifting online faster than analysts anticipated. In fact, advertisers will soon spend as much money on the Internet as they do on the airwaves, according to a newly released eMarketer study. On Dec. 6, the New York research firm increased its estimate for 2006 online advertising spending by $500 million, to $16.4 billion.

Read the full article in BusinessWeek.com

Social Networking Hits Investing

For most equity investors, the wild market volatility of the past few weeks has been cause for gritted teeth and palpitating hearts. But a few who have become active in online trading communities took some solace in the fact that they at least had found a place where they can see how other investors are riding out the storm.

Read the full article in BusinessWeek.com

Burnt Fingers, Red Faces & Bernanke

Wall Street shot itself in the foot, and Ben Bernanke came on, sirens wailing.

There are dozens of money managers in both the fixed-income and equities sectors who’ve self-destructed. Not conventional money managers, who grew up as practicing security analysts, analyzing companies and industries, performing sharp-penciled credit analysis of corporate debt instruments.

Read the full article in Forbes.com

Business Organization In Thailand

Basic Business Organization

By Ekkapon Yuangnark

There are many kinds of business organization for person who would like to do business in Thailand. However, the basic and most favorable are as followings:

1. Sole Proprietorship :

The Sole Proprietorship is an unincorporated business owned by one person. All the proprietor’s assets, both business and personal, are subject to attachment or other legal action which may be brought with respect to the business.

2. Partnership :

According to Thai law, there are three different types of partnership. They are (1) unregistered ordinary partnership, (2) registered ordinary partnership, and (3) limited partnership. A joint venture or consortium is deemed as kind of unregistered ordinary partnership but may be treated differently under the Revenue Code.

(A) Unregistered Ordinary Partnership

An unregistered ordinary partnership is one in which all partners are, without limit, jointly liable for all the obligations and debts of the partnership. The partnership cannot be regarded as a juristic entity separate from each partner, who must make a contribution in the form of money, properties or services.

(B) Registered Ordinary Partnership

If an ordinary partnership is registered, it becomes a separate juristic entity from each partner, who thereby gains the following advantages:

(1) The assets of the partnership have to be examined before creditors can claim debt payment from the partners. This is unlike an unregistered ordinary partnership, in which each partner is directly liable for debts incurred by the partnership.
(2) The liability of a partner for debts incurred is limited to two years from the date he ceased to be a member.

(A) Limited Partnership

(1) A limited partnership consists of two types of partner:
(a) one whose liability is limited to the specific amount which he has contributed to the partnership, and
(b) one whose has unlimited liability for all debts incurred by the partnership.
(2) A limited partnership must be registered and is regarded as a separate entity.
(3) It should only be managed by a partner who has unlimited liability.
(4) If the business of the partnership is managed by a partner whose liability is limited, that partner will become unlimitedly liable for all debts incurred by the partnership.
(5) Partners with limited liability are entitled to carry on business of the same nature as that of the partnership and are free to transfer their shares without prior consent of the other partners.
(6) Creditors of the partnership are not entitled to sue partners with limited liability unless the partnership is dissolved. Even then, creditor can claim only the following amounts:
(i) part of the undelivered contribution,
(ii) part of the contribution which has been withdrawn,
(iii) divined or interest received in bad faith or contrary to the law.
(7) New partners cannot be introduced into the partnership without the consent of all other partners. A new partner is liable for any of the partnership’s debts from time of his becoming a partner. Similarly, an ex-partner is liable for debts incurred by the partnership up to the termination of his right as a partner.

An ordinary partnership is dissolved if :

(i) Terms of contract of partnership provide for it.
(ii) A definite period of time descried in the terms of partnership has expired.
(iii) The partnership was formed for a single undertaking, which has been completed.
(iv) Any of the partners gives due notice to the others
(v) Upon death, bankruptcy or incapacity of a partner.
In (iv) and (v) above, the partnership can continue to exist if the remaining partners buy the shares of the withdrawing partner.

An agreement on how the profits and losses of the partnership are to be divided should be made between the partners of the partnership. In the event that no such agreement has been made, each partner’s share in the profits and losses will be calculated in accordance with the proportion of his contribution.

The partner should also make an agreement concerning the manner in which the business of the partnership should be managed. In the absence of such an agreement, the business of the partnership may be managed by each of the partners, who are jointly responsible for the acts of any other partner in the ordinary course of business. Relations between the managing partners and the other partners are governed by the laws of agency.

Unless consent is given by other partners, each partner is prohibited from carrying on any competitive business of the same nature as that of the partnership. If this does occur, the other partners are entitled to claim back any profits made, and/or compensation for any injury suffered by the partnership in consequence.

If the partnership is dissolved, liquidation shall take place unless ;

(a) some other method of property adjustment has been agreed upon by the partners,
(b) The partnership is adjudicated bankrupt.

Liquidation of a partnership must be done in accordance with the following procedure:

(i) Repayment of debts to third party.
(ii) Reimbursement of advances made and expenses incurred to the partners in managing the business of the partnership.
(iii) Return of each partner contribution.
(iv) Division of any remaining balance between the partners, as profit.

3. Limited Company :

Under Thai law, there are two types of limited companies, private company and public company. In this brief shall mention to private company only.

Limited company is a company which is formed with a capital divided into equal shares. The advantage of conducting business in the form of a limited company is that people can participate in large-scale business activities with their liability being limited to the amount unpaid on the shares held by them.

The procedure for forming a limited private company is as follows:

(1) The promoters of the company must file a memorandum of association. The memorandum of association shall contain the following information:
– the full name and intended location of the company,
– the objectives of the company,
– the intended location of the head office of the company,
– a declaration of the shareholder’s limited liability,
– the amount of share capital, and the value of each share,
– the name, address, occupation, and signature of each of the promoters together with the number of shares subscribed to by each.
(2) The official in charge of company registration will review the memorandum of association, especially the company objectives, to determine whether it is (a) against the law, or (b) detrimental to public morals. Once satisfied, registration will be granted.
(3) After registration, the company promoters will try to have all shares subscribed to. A private company is not permit to invite the public to subscribe to the shares.
(4) After all shares have been subscribed to, the promoters of the company must immediately call a general meeting of subscribers. This meeting is the statutory meeting, which should call :
(a) adoption of the company regulations,
(b) rectification of any transactions or expenses made by the company promoters during the formation of the company,
(c) determining and fixing the amount to be paid to promoters,
(d) fixing the number of preference shares, if any,
(e) fixing the number of ordinary and preference shares to be allocated as fully or partly paid up in place of money, and determining the amount at which they shall be considered as paid up, and
(f) appointment of directors and auditors and establishment of their respective power.
(5) After the statutory meeting, the promoters shall hand the business over to the directors.
(6) The directors shall cause the promoters and subscribers to pay up each share in money at an amount of not less than twenty-five prevent of the par value.
(7) When the above mentioned amount has been paid, and within three months of the statutory meeting, the directors must apply for registration of the company.

Regulation of the Company :
Shareholders will normally adopt company registrations. These regulations will be registered. They are deemed as the law governing the company’s business and binding the director, shareholders and outsiders in accordance with the company’s resolutions which require approval of the shareholders.

Management of the Company’s Business :
The company’s business is to be managed by the directors of the company as appointed at the meeting of the shareholders. The first group of directors are appointed at the statutory meeting and thereafter at the ordinary meetings. The directors have to manage the company’s business in accordance with the regulations passed at the first general meeting of shareholders. The regulations will usually specify which director(s) are to conduct transactions with outsiders. However, if other directors have an agency relationship with the company, they may conduct transactions which bind the company to outsiders. In this case, these directors will also be responsible to the company and the shareholders.

Although the directors have the authority to conduct all types of legitimate business on behalf of the company, there are some things for which they must obtain the approval of the shareholders at the shareholder’s meeting. These are :
(1) appointment and removal of directors(s),
(2) appointment of auditor(s),
(3) declaration regarding distribution of dividends,
(4) conducting business involving capital, fully or partly paid up in any form other than money,
(5) dissolution of the company,
(6) amalgamation with other company(ies),
(7) other matters recorded in the regulations of the Company.

4. Joint Venture :

A contractual unincorporated joint venture or consortium is not recognized as a unique legal entity under the Civil and Commercial Code, except, perhaps as a form of partnership, but these forms of organization are recognized under the Revenue Code.

5. Branches of Foreign Company :

There is no special requirement for foreign company to register its branch in order to do business in Thailand. However, most businesses fall within the scope of one or more laws or regulations which require a registration, either before or after commencement of activities and foreign business must follow the generally applicable procedures.

6. Representative Office :

By a regulation of the Prime Minister’s Office, special procedures were establishes for those companies that wish to establish branches in Thailand to engage in limited “non-trading” activities. These procedures are optional but may be beneficial in certain circumstances. If the business activities of a foreign company are limited to the search for Thai products to be exported to other organs of the company or to do quality control work associated with such purchase or to engage in market survey activities, it is recommended to register as representative office. If a company is accepted for this representative office, expedited visas and wok permits for up to two foreigners to work in the branch are available.

Amgen’s Crisis Play

The perils of pushing some drugs too hard and too broadly came home to roost Wednesday as Amgen announced a restructuring that includes laying off as many as 2,600 people and cutting spending by $1.9 billion. Amgen, long regarded as one of the kings of the biotech world, has been under intense scrutiny from the Food and Drug Administration and the Centers for Medicare and Medicaid Services in recent months regarding one of its top-selling drugs, Aranesp, used to treat anemia in patients undergoing chemotherapy.Read the full article in Forbes.com

Make The Most Of Every Marketing Dollar

The most crucial time in the marketing of a new product or service is the initial rollout. Because “first impressions last,” it is essential for an entrepreneurial venture to successfully launch its product. In fact, in the world of Internet mania, the difference between an initial rollout being a success or a dud can mean literally billions of dollars in market capitalization. Much can be learned even before the launch of a new idea, using the “beta test” process to gather feedback and jump-start the customer acquisition process. This means choosing the most appropriate reference accounts, gaining those reference accounts, getting the press on board and ironing out the bugs in the several months, weeks or, in Internet time, days before a formal product launch. Most importantly, it means getting great referrals from delighted, influential reference accounts.

Read the full article in Forbes.com

Same Old Imus?

Four months after his much-publicized canning, veteran talk show host Don Imus is back in the spotlight, this time for his expected return. But should audiences expect a softer Imus? Or will the cantankerous host return to his regular fare?

Read the full article in Forbes.com

Investment Advice From Buffet & Monger

The following is an excerpt of notes taken by Whitney Tilson, co-editor of Value Investor Insight at Berkshire Hathaway‘s annual meeting in May 2007. For a more complete account of Berkshire’s recent annual meeting, click here .

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Ways of The Advertising Warrior

A seminar called “Mental Resilience” led by Kamal Sarma, director of an institute by the same name, was sold out Wednesday morning at th e 54th annual Cannes Lions International Advertising Festival . Turns out only about 35 creatives looking to “tap into the elusive ‘white space’ often associated with creative genius” got up early enough (10 a.m.) to make it out to the event.

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Billboards Go Digital

Newspaper advertising is already under siege from sliding circulation, the loss of key department store advertisers and online competitors like Craigslist. But now there’s another daunting challenge lurking on the horizon: billboard companies.

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Living To Work Or Working To Live?

Retiring to a golf community and living the easy life has long been one version of the American Dream.

But how many years can one person play golf for?

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