Culture Proof 13+: A Super Smart Blog Of Todays Pop Picks.

The Complacency Of “GOOD”

Our complacency with Good has segregated our first world society into an endemic under-class without even a second-thought. This is in response to Uber’s business model which is a segregation of full-time employment, that guarantees minimum wage and ‘work expenses’ (cabbies that use Uber app) and that gig economy which is fare-only and commission-only with your own expenses (Uber drivers).

The second scenario is better than ‘nothing’ but it is not a permanent solution anyone would wish on the country for their future and their kids. It might be worse than begging for spare change because the ‘business expenses’ might dig a worse money-hole than your bad dignity.

Is it any good for even a 2nd-world society? Not for real cab operators there too. It’s a 3-rd world business solution because there the supply of motorized vehicle is rare and the infrastructure is thread-bare. But in the first world, commission-only Uber drivers appear like locusts despite losing money at the end of the day and ruining the business infrastructure.

This is Uber that exists off-Wall St.

And those ‘mag crews’ in the Mid-West who sell magazine subscriptions to make spare cash, on their own expenses.

Toronto’s Fun House Mirror

Why I say Toronto is darker than it looks:
That’s Shannon Martin, a full-time major network news anchor and she is homeless for real, not for show, despite collecting a full news anchor pay-check. Here is Toronto’s funny reflection,
“5.1 – City’s unemployment rate”
“Toronto child poverty rate at ‘epidemic’ levels”
“I’m just weary of it all,” the Toronto woman says. “I’m tired of walking to food banks because I can’t afford transit and I’m tired of being on the verge of homelessness because I can’t afford rent.”
“Toronto, by contrast, is home to more than 4,100 people per square kilometre.”
“More people are frequenting shelters”
“Toronto has the second-largest income gap in Canada”
I think this case in Toronto is a bit sadistic.

Canadian Business: 1/3 Dumbed Down

The big difference between Canada and USA business is that government prop up Canadian businesses. Those that have expanded, like Magna (to China), Earls (to the USA) and Loblaw (to the USA) are innovative. Those that stay find an over-crowded market. If they do not diversify their operations, they run into a talent shortage here in Canada, like Blackberry (formerly RIM) that sinks them because their need lowers their hiring standards.
1/3 of Canadians are below the OECD average in literacy and numeracy. Out of a mere 30 million people, that’s a big drop in this pond. You can say, eventually in every company 1/3 are bad at math and literacy. Every ‘rate’ is a big drop in this pond. It becomes a rarity that a company does not have that 1/3 dumbing down effect because there are labor imbalances in different lines of work.
Immigration by and large is not based on your employer but your education. Once you get here, you might not be interested in what ‘they’ had in mind, so gaps might remain unfilled. And those companies that import skill find it hard to justify why local talent don’t want to work with them.

Oil Business: Volume To Value

LONDON, Feb. 16, 2017 /PRNewswire/ — National oil companies (NOCs) are under pressure to evolve from a volume to value business model in a lasting low oil price environment, according to the EY report From volume to value: the transformation of National Oil Companies. This is a dramatic shift in the oil and gas industry as NOCs account for 58% of global reserves and 56% of production.

Paul Navratil, EY Global Oil & Gas Emerging Markets Leader, says:

 “The NOC model of the past is no longer fit for the future. Emerging economies dependent on oil revenue were – and continue to be – hard hit by the fall in oil price. This has had far-reaching implications on government budgets, sovereign investment, economic deployment incentives and, critically, subsidy support and social welfare programs. NOCs now find themselves in a period of transformation towards a new National Company model that embraces economic diversity.”
 
The report finds that many governments around the world are now reducing subsidies on fuel and energy prices, reducing salaries for government employees across all levels, cutting capex programs, maximizing oil and gas production volumes and considering partial privatization of their NOC in response to oil price volatility.

Countries taking action to reduce deficit, raise capital or to attract new investment include Mexico, Brazil, Nigeria, Egypt, Tanzania, Angola, Kuwait, United Arab Emirates, Iran, Oman, Russia, Saudi Arabia and Indonesia.

Andy Brogan, EY Global Oil & Gas Transactions Leader, says:

“Traditional NOCs understand that to maintain the critical role they play in their countries, they must make changes to improve margins and increase capital efficiency. Generating value must take priority over generating volume.”
 
The report outlines how, for a NOC to be able to maximize the quality of its earnings and contribution to their country, it must undergo a transformation that addresses the autonomy of the NOC and role capital plays in: diversifying revenue streams; balancing national versus commercial objectives; internationalization; funding operations; capabilities and skills development; enabling technology; and vertical integration.

Brogan says: “NOC success depends on the ability to build capital and operational excellence into a new culture fit for a lower-for-longer price. Only then will NOCs maximize their potential enterprise value and, as a result, the contribution to their country.”

Notes to Editors

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

How EY’s Global Oil & Gas Sector can help your business

The oil and gas sector is constantly changing. Increasingly uncertain energy policies, geopolitical complexities, cost management and climate change all present significant challenges. EY’s Global Oil & Gas Sector supports a global network of more than 10,000 oil and gas professionals with extensive experience in providing assurance, tax, transaction and advisory services across the upstream, midstream, downstream and oil field subsectors. The Sector team works to anticipate market trends, execute the mobility of our global resources and articulate points of view on relevant sector issues. With our deep sector focus, we can help your organization drive down costs and compete more effectively.

For more information, please visit ey.com/oilandgas.

Sarah Shields
EY Global Media Relations
+1 604 891 8235
sarah.shields@ca.ey.com

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