Monday, January 28, 2013
It's Time to Cut Back on Social Media
As I constantly deal with business associates and students looking down at a cellular phone instead of concentrating on the tasks at hand, it has become obvious to me that social media needs to be cut back. One consultant friend recently chided me for not being on Pinterest or Instagram – and like her, many worry they’ll fall behind if they’re not hard-core super users of social media.
But as I advise my clients to do, I believe everyone needs to think about which platforms best speak to your strengths. We are now reaching a point where having a scattered focus could truly be deleterious to your goals, because you’re only able to half-engage or create mediocre content or performance.
It is become increasingly clear that with the proliferation of new platforms, no person or company can become the master of them all. Nor should they. The harder decision is figuring out which ones you should prioritize – or jettison. To use a business term, establishing ROI (return on investment) should be your goal in social media. We may still have a ways to go before we can quantify its objective, dollars-and-cents impact. Bet there are some good operating theories out there. If you target women, Pinterest is a great bet, if it’s males, Google+ is currently the stomping ground.
The “best” platforms will be different for every person or brand. But in 2013, think hard about how you can cut back, so you can focus on what matters.
JPM CUTS DIMON'S PAY - JPMorgan Chase directors cut Chief Executive James Dimon's pay by 50 percent for 2013, as the board took management to task for a trading debacle that cost the nation's largest bank more than $6 billion. The move came as the New York company posted record 2012 net income of $21.3 billion. The pay cut ends Mr. Dimon's reign as king of Wall Street CEO compensation. Mr. Dimon's pay was set at $11.5 million, down from $23.1 million the year before. ...
"'I respect their decision,' Mr. Dimon told reporters Wednesday. When asked for his gut reaction to the pay cut, he said, 'Nope, you're not going to get it.' ... Regulators this week issued enforcement orders citing lax risk management at the bank, and at least half a dozen other regulatory or law-enforcement agencies are conducting inquiries into the trades, internal accounting and risk controls at the bank and the adequacy of its public disclosures."
FORMER TREASURY SEC’Y GEITHNER, BY THE NUMBERS : "made 99 official trips ... 62 to domestic destinations and 37 internationally ... 45 cities in the United States and 38 cities abroad ... logged more than 600,000 miles on international trips, taking him from Sao Paulo, Brazil to Sylt, German ... spent more than 167 hours testifying before Congress, appearing at 67 hearings ... made 24 appearances on Sunday morning talk shows, including one 'full Ginsburg,' when he represented the Administration on all five Sunday programs during December's fiscal talks ... the only Treasury Secretary who previously served Treasury as a career civil service employee. He has served more than 17 years at the Treasury Department."
BREAKING - "Sports are a civil right for disabled, US says, the U.S. Education Department is telling schools they must include students with disabilities in sports programs or provide equal alternative options. The directive, reminiscent of the Title IX expansion of athletic opportunities for women, could bring sweeping changes to school budgets and locker rooms ... Schools would be required to make 'reasonable modifications' for students with disabilities or create parallel athletic programs that have comparable standing as mainstream programs. ... 'This guidance will help schools ensure that students with disabilities have an equal opportunity to benefit from the life lessons they can learn on the playing field or on the court,' Education Secretary Arne Duncan said in a statement announcing the new guidance on Friday. ... Education Department officials emphasized they did not intend to change sports' traditions dramatically or guarantee students with disabilities a spot on competitive teams. Instead, they insisted schools cannot exclude students based on their disabilities if they can keep up with their classmates."
BUSINESS WATCH: "Losing the Crown: Apple was unseated Friday by Exxon Mobil as the world's largest company after losing $245 billion in market value since September."
SMALL INVESTORS PROPEL MARKETS: S.&P. PASSES MILESTONE - Money Floods Back Into Mutual Funds, but Rally May Fade: Americans seem to be falling in love with stocks again. ... People who got out as stocks plummeted in 2008 and early 2009 have already missed a remarkable rally. The Standard & Poor's 500-stock index has soared 120 percent since March 2009, passing the 1,500 milestone. This year alone, the main indexes are up 5 percent."
JACK ASS OF THE MONTH – Gary Bettman, National Hockey League Commissioner. A position Mr. Bettman has held since February 1, 1993. Mr. Bettman is a graduate of Cornell University and New York University School of Law. Under Gary Bettman, the NHL has grown from $400 million to $3.0 billion annual revenues, with six new teams added to bring the NHL to 30.
However, Mr. Bettman’s tenure has had three labor stoppages, including one full season cancelled. He has often been criticized as attempting to Americanize the game and being anti-Canadian. Like many University development officers, it is time for Mr. Bettman to just go away. The NHL needs new leadership. Mr. Bettman, a former general counsel to the National Basketball Association. The NHL needs a “hockey man” to now run the league.
BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to: Barbi Benton (63), Christie Brinkley (59), Edward Burns (45), Sarah McLachlan (45), Rosamund Pike (34), Lisa Marie Presley (45), Katharine Ross (73).
COLLEGE HOCKEY PICK OF THE WEEK – Friday February 1, 7:00 PM ET, OWN – St. Lawrence Women Saints (14-10-2) vs. #7 ranked Clarkson Women Golden Knights (20-6-0). It is a battle of #4 in the east vs. #2. Chris Wells will have his Lady Saints up for this one. St. Lawrence 4 Clarkson 3. (Season to date (4-1)
NFL FOOTBALL PICK OF THE WEEK – Sunday February 3, 6:30 PM ET, CBS – Baltimore Ravens (13-6-0) vs. San Francisco 49ers (13-4-1) in this years’ Super Bowl in New Orleans. Vegas says the point spread is four for SF, we agree – San Francisco 28 Baltimore 24. Season to date (13-7)
THE SWAMI’S TOP PICKS – St. Lawrence Women 4 Clarkson Women 3, St. Lawrence Men 5 Cornell Men 3, San Francisco 28 Baltimore 24. Season to date (51-26)
WORDS OF THE MONTH –
intrapreneur \in-truh-pruh-NUR\, noun:
An employee of a large corporation who is given freedom and financial support to create new products, services, systems, etc., and does not have to follow the corporation's usual routines or protocols.
“Furthermore, the distinction between entrepreneur and intrapreneur reflects a difference in both attitude of mind, and ability between individuals.”
caro, adjective, adverb
expensive - Caro is the basic word to describe something which costs a lot of money
“un coche carísimo”
a very expensive automobile
DRIVING THE WEEK - Huge week for economic data. Case-Shiller home prices at 9 a.m. on Tuesday expected to grow 0.7 percent. Consumer confidence at 10 a.m. on Tuesday expected to dip to 64.0 from 65.1 ... ADP private employment at 8:15 a.m. on Wednesday expected to show gain of 165,000 ... First look at fourth-quarter GDP at 8:30 a.m. on Wednesday expected to show a gain of just 1.2 percent ... FOMC announcement at 2:15 p.m. on Wednesday expected to reaffirm the central bank has no end in mind for QE3 ... January BLS jobs report on Friday at 8:30 a.m. expected to show a gain of 160,000 with no change to 7.8 percent jobless rate ... Automakers report January sales on Friday.
Next week; Mid winter movie and restaurant reviews.
Until Next Monday, Adios!
January 28, 2013