Friday, January 29, 2016

Forty Years After: The Fortune 500, 1976

Forty years ago, the 1976 version of the Fortune 500 appeared in Fortune's nearly-2 lb., 350-page May issue.  The list itself turned 21 that year, and along  with its ads and articles, painted a vivid picture of business in a long ago world.  

Just how far back was 1976?  Well, young entrepreneurial hotshots like Jack Dorsey (Twitter and Square) and Travis Kalanick (Uber) were both born that year, but so too was old, decrepit  Peyton Manning.  That contrast, I think, defines 1976 as "early middle age."

Those of you alive then might remember the Bicentennial celebration, held in the midst of a pretty rough decade.  The elite 500 itself had taken a beating in 1975; “gripped by recession,” the editors wrote, “the 500 suffered the most severe earnings drop in seventeen years.”  

Exxon ($44.8B) was the largest industrial in America in 1976, followed by General Motors, Texaco, Ford Motor, Mobil Oil and Standard Oil of California.  This was the fossil fuel economy in living color.  Tech first appeared in 7th position with International Business Machines ($14.4B) followed by Gulf Oil, General Electric and Chrysler.  Of the next five positions, three were also oil companies.  

Incidentally, the top 10 Fortune 500 companies last year included three oil companies and two automotive—perhaps not so different 40 years later.  Apple had replaced IBM as the only tech.

Thursday, December 31, 2015

A Modest New Year’s Resolution: Opening the Shower Door

About a month ago we had our shower door repaired.  In the process, we reversed the door so that it now swings into the shower instead of swinging out and dripping onto the bathroom floor.  I should note that we moved into our home on July 21, 2000, so I’ve walked in and out of that shower--give or take for travel and vacations—some 5,651 times.

I’ve just been through my morning news feed of New Year’s Resolution articles.  There’s a rich harvest this year.  It turns out Carli Lloyd makes resolutions everyday.  Donté Stallworth is trying for the 10th year in a row to stop cursing.  Laurene Powell Jobs is going to practice mindfulness.  Barney Frank says coming out of the closet in 1987 was his best and last resolution.  

But back to my shower door.  I get three tries to swing it in the right direction every morning: once when I open it to turn the shower on, once about a minute later to get in, and once to get out.  The first morning after the repair I did it wrong all three times: pushed when I should have pulled, pulled when I should have pushed.  0-for-3.  It made me laugh.  That wouldn’t happen again.

Wednesday, December 9, 2015

Things I Learned in 2015, A Very Hot Year

The head of the Senate Environment Committee:
If climate is changing, it's because of God, not man.
These are some of the things I learned in the year 2015.

It was the warmest on record, and by a staggering margin.  As of November, no one under 29 years of age had ever lived through a single month that was cooler than its 20th-century average.  

The rainforest in Washington state’s Olympic National Park caught fire for the first time in living memory.  London reached 98F during the hottest July day ever recorded in the U.K.  Miami Beach may have less than 50 years to go before it's completely underwater.  Poison ivy under high carbon conditions is now growing bigger and more toxic.  Warmer temperatures are helping bark beetles destroy thousands of acres of Western pine forest in the US.  In America's Southwest, evergreen trees may virtually disappear in the next century.  Cranberry farmers in Massachusetts are facing warmer springs, higher incidents of fungus and pests and warmer falls; Ocean Spray has begun growing cranberries in New Brunswick, Canada.  Meanwhile, Canadians are losing their reputation as winter people.  

A blue marlin was caught near Catalina Island--1,000 miles north of its typical range.  The shells of pteropods are dissolving due to ocean pH.  Six percent of the world's reefs could disappear before the end of the decade.  Mount Everest’s glaciers are turning into lakes.   If the Quelccaya ice cap in Peru continues to melt at its current rate, it will be gone by 2100.  Snowpack in the Sierra Nevada is at its lowest level in 500 years.  There is a“high probability” that the planet’s 26,000 polar bears will suffer a 30% decline in population by 2050 due to the loss of their habitat, which is disappearing at a faster rate than predicted by climate models. (As a small consolation, they can now at least mate with grizzly bears.)  China released a detailed scientific report on climate change that predicted disastrous consequences for its 1.4 billion people, including rising sea levels and the likelihood that more than 80 percent of the permafrost on the Tibet-Qinghai Plateau could disappear by the next century.  Glacier retreat in western Asia now threatens China’s water supply.  The International Energy Agency recently reported that the global energy sector emitted as much CO2 in the last 27 years as in all previous years of the Industrial Revolution.  Climate change is slowing down the rate of the earth's rotation.

Meanwhile, the chairman of the Senate Environment Committee brought a snowball into the chamber as evidence that climate change is a hoax.  He noted, "It's very, very cold out.  Very unseasonable."  Chris Christie announced, “Hell no,” America shouldn’t lead on climate change.  Ted Cruz said, “If you look at satellite data for the last 18 years, there’s been zero recorded warming.”  Donald Trump said, “I believe in clean air, immaculate air, but I don’t believe in climate change.”  Ben Carson said, “There’s always going to be either cooling or warming going on,” and that “as far as I’m concerned that’s irrelevant.” Marco Rubio said, “I believe climate is changing because there’s never been a moment when the climate is not changing,” but “we’re not going to destroy our economy the way the left-wing government we’re under wants to do.”  And Carly Fiorina added, “Here we have a bunch of liberals and people in the EPA who are willing to sacrifice other people’s lives, other people’s livelihoods at the altar of their ideology.”  

Mark Twain (or maybe Robert Heinlein) once said, “Climate is what you expect. Weather is what you get.”  Perhaps they meant that weather is what you get but climate is what you deserve.

Sunday, November 29, 2015

From Both Sides Now: A Note on Whack-a-Mole Leadership

I was fed in the 1980s on a diet heavy in strategy.  It was the heyday of GE’s Reginald Jones, who had introduced something called strategic planning into one of America’s great companies (and would later introduce a successor by the name of Jack Welch).  And just up the coast, the Boston Consulting Group was organizing the world into growth-share matrices. 

When I graduated from business school I believed it was a mortal sin to run a company without a strategic plan: Envision an End State 3-5 years out.  Decide where you wanted to compete.  Decide how you wanted to compete.  Write it all down, carve it all up, and make it all so.

This was how the world ran, or ought to run.  Leading a business without a strategic plan was like driving blindfolded on the interstate.

I have since learned that the way we wish the world to work and the way it actually works are two entirely different things.  I would guess, in fact, that far more businesses lack strategic plans than have them.  Many that have plans don’t read them.  Some that read them don’t follow them.  Some that follow them execute so badly that the plan might as well not exist.

In other words, the world I was taught to create might represent the smallest share of all global business activity.  Subtracting, say, the Fortune 1000, I would be almost certain of that.

Monday, November 23, 2015

Food Foolish #5: Some Lessons from the Field at Thanksgiving

Thanks to Gettysburg College and the Gettysburg Foundation
for hosting an evening of Food Foolish discussion.
Since we published Food Foolish in July, my co-author John Mandyck and I have been on a variety of calls, Webex’s and in-person lectures to talk about the issues of food waste and climate change.  John has been especially busy, so if you have an interest in these topics, you should be sure to connect with him on Twitter (@JohnMandyck).  (And I'm on Twitter here.)

As I meet with folks, I get asked a lot of questions that, frankly, I can’t answer.  So I've been studying up on everything from food security, ugly fruits and vegetables, drought, precision farming and composting, to agroecology, urban gardens, food banks and even so-called Frankenfish.  I have found Twitter to be especially helpful in channeling the daily flood of material being generated.  Food + Tech Connect in particular is a terrific feed for entrepreneurial news, and the Guardian in London seems to have the broadest coverage of food and climate change news.

Now, as the season of food (and thanks) is upon us here in the States, I thought I might share just a few of my many lessons from the field.

Getting Mom to Waste Less.  Let’s begin with the very nice woman in Gettysburg, Pennsylvania, who asked me how she should deal with her mother, who refuses to eat the dark meat from the turkey.  I am still formulating my answer, which might require as much Dr. Phil as Michael Pollan.  (My own dear mother hated parsnips, though it never came to a crisis stage.)  

It’s worth noting, however, that Americans toss out 204 million pounds of turkey annually, worth nearly $300 million and containing about 105 billion gallons of embedded water.  In fact, if we start counting embedded water on our Thanksgiving plate, we’ll find that a can of cranberry sauce has 1,559 gallons, a gallon of apple cider nearly 1,500, and a bowl of mashed potatoes some 2,528 gallons.

So, as I think about how to motivate Mom, let's all plan and shop wisely.  And once the big event is over, work on those leftovers.  I discovered in my travels that many folks now plan “Leftover Parties” on the Friday after Thanksgiving to insure that they reduce things down to the carcass.  This, along with the budding “Meatless Mondays” movement, are small signs that there is a fundamental change in the way Americans are thinking about their food.  (See “The War on Big Food” from Fortune here.) 

Friday, November 6, 2015

Ages Matter

What Ages do we live in?

It seems like a silly question, but think of it this way:  How many people can you name who lived between 500 AD and 1000 AD?  Yes, Charlemagne; everybody gets Charlemagne. 

Joan of Arc?  Sorry; off by 400 years. 

Venerable Bede?  Well yes, but now you’re Googling.

There were maybe 200 million human beings alive in 500 AD and 300 million alive in 1000 AD.  If we figure on a good 30-year life span, my HP-38C says several billion were born and died across those 500 years. 

This period is traditionally called the Dark Ages.  It’s a half-a-millennium stretch in which most of us can remember the name of exactly two people who lived--and on one we had to cheat.  This was not mankind's happiest moment.

Ages matter.

Wednesday, October 28, 2015

4 Takeaways from One Day University

One Day University was back in Boston this month with four terrific lectures--or, to be more precise, three terrific lectures and an interesting, slightly disorganized chat.

First up was Anna Celenza, Professor of Music at Georgetown University.  Her presentation focused on "the American sound," a concept which arose in the years following WWI.  She told its story by highlighting George Gershwin's Rhapsody in Blue and Duke Ellington's Symphony in Black, and closed with one of the most spectacular pieces of American music I had never heard.

Takeaway 1: Download Ellington's 1964 version of Gershwin's Rhapsody in Blue.  Put your headphones on.  Turn it up (a little).

Tuesday, October 20, 2015

Treasures of Innovation at the Smithsonian

We had the opportunity last weekend to visit the Smithsonian's current exhibit on innovation and enterprise.  What a treat!   Below are just some of the items on display.

This is the 1837 prototype receiver for Samuel B. Morse's telegraph.  By sending electric pulses, Morse was able to record a message as a wavy line on a strip of paper.  Morse was an excellent artist, so it's no surprise the frame is an artist's canvas stretcher.

Monday, October 12, 2015

A Thin Slice of the Industrial Revolution: The Rowley Village Forge Site

I've made it my hobby these last few years to visit historic sites related to the Industrial Revolution in New England.  Some of the locations I've written about on this blog include the Saugus Iron Works, Slater Mill, Mount Hope Finishing CompanyAmes Shovel Collection, the entrepreneurs buried at Mount Auburn here and hereLowell mills, and homage to the steam age at the Waltham Watch Company and the Yankee Steam-Up. With a perfect Columbus Day weekend upon us, it seemed like a good time to organize yet another great Industrial Revolution adventure--but this one only about 2.5 miles from home.

Lockwood Forest is a conservation area of 100 acres which abuts Fish Brook, a tributary of the Ipswich River, and some 2,000 additional acres of conversation land in my hometown of Boxford.  There are miles of trails and, depending on the season, hikers and horses or snow-shoe-ers and x-country skiers.  This weekend the horse-and-riders were out and about.

In 1670, local entrepreneurs constructed the Bromingum Iron Forge on Fish Brook.  Better known as the Rowley Village Forge, it was run by Henry Leonard, a skilled English ironworker who also played an important role at the ironworks in Braintree, and at the the Saugus Iron Works.

Here's the trail in to the forge site.

Thursday, September 10, 2015

Food Foolish Files #4: Can AgTech Really Save the World?

Earlier this week, a Silicon Valley investor wrote an excellent article entitled “The Next Food Frontier: How AgTech Can Save the World.”  (See here.)

In it, he discussed some of the problems facing Big Agriculture in America.  For example, corn farmers in Iowa are feeling the effects of increased costs for seeds, fertilizer and herbicides.  Environmental costs are also growing, especially greenhouse gas emissions.
The solution, we’re told, lies in low cost sensors, improved computational capabilities and advanced machine learning techniques.  “The advancements,” the author wrote, “are enabling farming to be run as efficiently as a Silicon Valley tech company—with precision, data-driven decisions and automation.”

Some of you may have gulped hard thinking the standard of excellence for efficiency is a “Silicon Valley tech company,” but we get the point.  Efficiency can and should be improved on corn farms in Iowa.  Precision farming is one good solution.

Others problems the article noted are a decrease in yields, and improving options for more health conscious Americans.  Solutions include genetically engineered microbes for improving seeds and soil, computational biology, tissue engineering, and automation.  From this we can create things like biofabricated meats to replace traditional, often inefficient animal-based proteins.

Again, all promising and cool ideas.  (Though when it comes to cutting into a big slab of biofabricated beef—you first.)

“Technology is the answer,” the author concludes.

As I said, it's a thoughtful article and features a number of real companies working on real problems.  It's not a surprise, of course, that a Silicon Valley investor would conclude that technology was the answer--in TechCrunch's hyperbolic, clickbait title--to saving the world.   

But we also might just chew on that for a moment.  Could it be that Silicon Valley’s vision is far too U.S.-centric, far too BigAg-based, far too driven by the sexy technology at hand, far too influenced by the valley next door--and because of this, likely to have only a limited impact on the problem of global hunger?

As Einstein said (or not, as the case may be), if he had an hour to save the world, he'd spend 55 minutes defining the problem.  I propose we spend just 90 seconds reframing how we might save the world, or at least try to feed it.

Tuesday, August 25, 2015

Chicka Chicka Boom Boom: The ABC’s of Google

Readers with children of a certain age know Chicka Chicka Boom Boom.  In fact, if you’ve read it once, you’ve probably read it a million times.  Even now, some 15 years after my final heartfelt performance, I can still recite the book (mostly) by heart.  

Chicka is designed to teach young children the alphabet.  The plot (spoiler alert!) is thus: The letter “a” challenges “b” and “c” to meet him “at the top of the coconut tree.”  That’s followed by a stampede of the other 23 letters racing up the tree.  Soon, as you might expect, they all come crashing down.  Consonants are bruised.  Vowels are maimed.  Many phonemes will never be the same.

On August 10 Google unexpectedly announced that it was reorganizing itself under an umbrella company called Alphabet.  Mind you, this was an act that involved moving boxes around on a piece of paper and assigning new names to old projects.  It wasn’t quite the invention of a time machine, or even a Romulan cloaking device. 

Though, given the stampede up the coconut tree, it might have been.

Friday, August 14, 2015

Food Foolish Files #3: Summer 2015 Update

I call it the "Diaper Syndrome." It works like this.

You get married and are going along just fine when one day your wife announces she's pregnant.  On your drive to work the next day you see a billboard for diapers.  First time everMust have been erected the night before.  Then a bus goes by and it has a diaper ad on its side.  Weird.  And then there's a lady at the park who is diapering her baby.  Do people diaper babies outside? 

Then, of course, you make the mistake of typing “we’re going to have a baby” in a Gmail to a friend and you are inundated with on-line ads for diapers.

Been there?  Who knew anyone thought about diapers that much?

Well that's exactly what’s happened with Food Foolish.  John Mandyck and I researched and wrote about food waste and its connection to hunger and climate change.  Now, everywhere I look, I see, well--food waste.  Or more importantly, people, organizations and countries trying to solve the issue of waste food. 

I've been keeping a log of clippings, and here's just a few you might find interesting.

Wednesday, August 5, 2015

What Really Makes an Entrepreneur Successful?

I've channeled my inner-Galileo over on Ascent's "Investing Edge" blog here.  Thanks to Matt and the guys for their support.

Food Foolish has been getting some nice press here, and we've added guest posts from chef Barton Seaver and explorer Philippe Cousteau here.

Tuesday, July 21, 2015

Food Foolish Files #2: The Magnificent 7th Banana (A Parable)

In chapter 4 of Food Foolish, John and I write about the magnificent banana.  It happens to be the world’s favorite fruit.  Americans eat 27 lbs. of bananas on average each year.

Me, I eat a banana most every morning.  I talked myself into thinking that bananas stop my legs from cramping after I run or bike, but the truth is I just like them.   I figure at 300 a year, I eat about 936 ounces (@ 4 ounces each less 22% for the peel), or about 58 lbs. of banana.  That makes me very close to an expert on the topic.  A 58-Pound-Gorilla, so to speak.

Bananas come in bunches.  (You can quote me on that.)  So when I buy a bunch I might get, say, seven bananas.  (Remember, this is a parable.)  The first banana on the first morning is kind of hard and not real sweet.  The third and fourth morning’s bananas are perfect.  And the last morning?   Well, sometimes it’s not pretty.

But first, skip ahead in Food Foolish to page 125.  (What?  No copy yet?  See here!)  A study done in 1939—in the midst of the Great Depression—determined that the average UK household wasted about 3% of its weekly groceries. 

A recent study pegged the average weekly UK household food waste at about 25%.  What happened?

Friday, July 17, 2015

Modern Air Conditioning 113 Years Later: It Smells Like a Spring Day

Brooklyn, NY.  Now an artist co-op.  In 1902 it housed
the printing presses of Sackett & Wilhelms--ground zero of
modern air conditioning.
July 17 is the day we celebrate the invention of modern air conditioning, courtesy of entrepreneur Willis Haviland Carrier (1876-1950).  His first installation was at a Sackett & Wilhelms printing facility in Brooklyn, New York, in 1902.  

Our story of this seminal event and the extraordinary impact of modern air conditioning appeared in 2012’s Weathermakers to the World, part of the 110th anniversary celebration of modern air conditioning.   See Amazon for the book, or here for an interesting timeline and samples from the book.  I also wrote blog posts called Behind the Scenes, Visiting Ground Zero, and Taking Weathermakers to Basel.  And this is the video we did with CBS This Morning back in 2012.

Meanwhile, my Food Foolish co-author, John Mandyck, posted some thoughts on the 113th here.

It’s hard for most of us navigating through air-conditioned homes, cars and offices to comprehend just how miserable life was before a/c, even in temperate regions of the world.  And it’s also a measure of the pigheadedness of our ancestral grandparents that they were perfectly willing to cool a textile mill or bakery--but a front office or their home?  Never.  After all, what was life without a little suffering?

How Did We Cope?

Friday, July 10, 2015

Food Foolish Files #1: It's a Panacea

A panacea.  Not.
In Food Foolish we try to deliver two simple messages.

First, when we waste food, we harm people, damage the environment, deplete our land and water resources, reduce national security and slow the growth of livable, sustainable cities.  That's the bad news--and we spend considerable time in Food Foolish detailing where and how some of this harm is occurring.  (As Einstein said, or should have said, "If I had 60 minutes to save the world, I'd spend 55 minutes defining the problem.")  

But the second message, and the really good news is this: We don't have to waste food--at least not at the astonishing rate of one-third of everything we produce today.  Food Foolish profiles work being done by good people all around the world to improve harvests, enhance distribution, and change buying and eating habits.  

In a world where 800 million people are hungry and millions malnourished, food waste is one of the truly "big problems" facing humankind.  What makes it an especially compelling issue, however, is that reducing food waste is a panacea.

Panacea.  That's a word we don't get to use that often.  It means universal cure.  Elixir.  Wonder drug.  Magic bullet.

Sunday, July 5, 2015

I Thought I Heard Buddy Bolden Say. . .(July 4, 2015)


Here's one hour and nine minutes of history, music and virtuosity to extend your July 4th holiday.  And it's worth every second.  Walter Isaacson interviews Jon Batiste and Wynton Marsalis at the Aspen Institute 2015 Ideas Festival.

I've written about Wynton Marsalis here--one of my favorite stories about how improvisation applies to life.  I also keep Marsalis's Moving to Higher Ground around for a little inspiration on those days when I've forgotten to order King of Joe for the Tassimo.

If you're interested in the history of New Orleans Jazz, there's an abundance of outstanding material.  One of my favorites is Samuel Charters's beautifully written A Trumpet Around the Corner.  And don't miss Donald Marquis's In Search of Buddy Bolden.  As for Louis Armstrong, just listen to the first 15 seconds of West End Blues.  (Yes, you can make it your ringtone; nobody will mind.)  And then listen to (the controversial) Livery Stable Blues and tell me you don't hear a bass drum.

But first, watch Marsalis and Batiste.

Happy 4th+!

Thursday, June 18, 2015

A Sonnet to the Cold Chain: Shakespeare Doeth Sensitech

I've written over 400 posts for The Occasional CEO and don't believe I've ever made more than a passing reference to Sensitech, a company with which I've been happily associated for 20 years.

Sensitech monitors and tracks perishable products as they move around the world--everything from tomatoes and ice cream to vaccines and biologicals.  It's the kind of business that does both good--by protecting the stuff that feeds us and keeps us healthy--and well by protecting customers' brands and profits.

In 2006 Sensitech was acquired by Carrier Corporation, part of United Technologies.  Here's how it all looks on the web:

Knowing this, you'll now fully appreciate the startling discovery made by our oldest daughter (who just happened to graduate college recently with a degree in English and Creative Writing).  She's been helping out around Sensitech doing some rewrites of corporate literature and the website while networking for a publishing job in NYC.

Much to my surprise, she stumbled upon--in the 16th-century archives of the company, no doubt--a sonnet composed by William Shakespeare celebrating Sensitech and the cold chain.  She emailed it to me today and I wanted to share it with you fans of the Bard, especially those of you with a true appreciation for the beauty of the cold chain.  Herewith, Shakespeare:

Tuesday, June 9, 2015

The Tao of Dress Shoes (or, How Did Marketing Get This Complicated?)

In my world there are three kinds of black shoes: black high-top Keds I used to wear as a kid, black wingtips I wear with suits, and black dress loafers for everything else.  The biggest decision I face around the issue of black shoes is whether to get tassels on my loafers, which some years seems wild and crazy and others not so much.

That is the sum total of thinking I do about black shoes.

I found the other day that my old black loafers were looking shabby so I ordered a new pair online from Johnston & Murphy.  The shoes arrived on schedule, looked great and fit fine.  Good on you, Johnston & Murphy.  Finding my mind-share for black shoes fully exhausted, I chanced to glance at the cover of the shoe box.  Stuck underneath was a black billboard, or bumper sticker, or broadside; I think it was supposed to be sitting on top of the shoes when I opened the box.  Anyway, I pried it out and this is what I read: