Is the credit union movement harnessing the power of cooperation?

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr I’ve been catching up on my reading and ran across two articles in the August 2015 issue of Scientific American that touched on the concept of cooperation. Of course, cooperation is at the heart of the credit union movement — people joining together to help each other. Cooperation extends far beyond the individual credit union — credit unions join together in many different ways to help each other advance. This has enabled credit unions to compete and prosper in an intensely competitive marketplace that many predicted would see the end of credit unions.The first article I read was “The Most Invasive Species of All.” It asked the question of how homo sapiens was able to expand out of Africa to all regions of the worlds. Was it bigger brains? Better weapons? Sheer luck? The answer of anthropologist Chris W. Marean is “a genetically encoded penchant for cooperation with unrelated individuals.”“The joining of this unique proclivity to our ancestors’ advanced cognitive abilities enabled them to uniquely adapt to new environments,” Marean writes. “It also fostered innovation, giving rise to a game-changing technology: advanced projectile weapons. Thus equipped, our ancestors set forth out of Africa, ready to bend the whole world to their will.”The second article in the same issue that caught my attention was “Planet Hard Drive,” a discussion of information theory as it applies to people. The author, César A. Hidalgo, sees each of us as an organic, information-generating computer, transforming ideas into useful products or activities. The problem, Hidalgo says, is that each of us is limited. To transcend our own limitations, we need to form social and professional networks. This generates ever richer stores of information that lead to economic and social progress. He envisions ever faster progress ahead as technology and trade break down barriers of language, culture, and nationality and bring people of the world into closer collaboration. continue reading »last_img read more

Chuo Shinkansen will be ‘a national project’

first_imgAs JR Central prepares for a stock market listing in October, President Yoshiyuki Kasai tells Murray Hughes that the Chuo Shinkansen superconducting maglev line will only be built as a strategic national project,WHEN THE Great Hanshin earthquake struck the Kobe region of Japan on January 17 1995, services on the Tokaido and Sanyo Shinkansen were badly disrupted. While JR Central’s Tokaido Shinkansen did not suffer serious damage to its structures, services were affected because of the disruption to through operation on the Sanyo Shinkansen. One result was serious disruption to the government’s plans to list both JR West and JR Central on the Tokyo stock market. While JR West has now passed that milestone (p307), JR Central is the last of the three JR companies on Honshu to remain state-owned.When I asked JR Central President Yoshiyuki Kasai how far preparations had progressed towards privatisation, it was clear that a firm timetable has been set: ‘We believe that we shall be listed in October’, he said. ‘We have top priority among all the government corporations to be moved into the private sector.’ Kasai felt ‘that the stock market in Tokyo will not improve, but I understand that listing will take place as scheduled.’Kasai had no regrets about being third in the queue of the mainland JR companies. ‘It is very fortunate that the others were ahead of us – they have experienced big fluctuations in the stock market, and we are lucky we don’t have that problem.’Kasai said that listing would not produce great advantages to his company: ‘any profit that we could make would all be used to pay off the debts of the former national railway through JNR Settlement Corp.’ But he felt that there would be some positive benefits: ‘we can prove to the general public that JR Central is sound and healthy in terms of its management foundations, that we are sound enough to be listed. Generally speaking, there will be a financial improvement, but JR Central is so well known that it will be hard to improve our reputation.’Maglev plansWhile preparations move ahead for the transfer to the private sector, Kasai has under his control what is arguably Japan’s most ambitious infrastructure project – the superconducting maglev line that he believes will one day form the Chuo Shinkansen over the inland route between Tokyo and Osaka.Kasai expects to receive confirmation that magnetic levitation is technically feasible as a passenger-carrying mode in 1999. Assuming that the engineers at the Yamanashi test site (p299) agree, I asked Kasai what the likely cost of the Chuo Shinkansen would be if it were built as a maglev line, and how that would compare with the price of a conventional steel-wheel steel-rail shinkansen.’The construction cost of the experimental maglev line is a kind of development cost’, said Kasai. ‘It is slightly higher than the cost of building an experimental steel-wheel shinkansen line, but we expect that the price of building a line for commercial operation will fall as development progresses. There are significant benefits in operating at the speed of 500 km/h, and in terms of maintenance we believe that maglev has advantages because of its non-contact nature. The steel-wheel steel-rail railway has reached a state of near perfection, so I do not think that a major breakthrough is possible.’Kasai said that ‘with the Nozomi and Series 500 we can of course make improvements in peripheral technologies, but a real breakthrough can only come through novel technology. So we believe it is important to use our resources to allow the budding of new technologies which will grow, flower and bear fruit in the 21st century.’Kasai believes that the Chuo Shinkansen is ‘strategically important – if we rely solely on the Tokaido Shinkansen, which is an essential tool of the Japanese economy, it remains highly vulnerable, as proved by the Great Hanshin earthquake.’Pointing out that ‘the Tokaido Shinkansen cost about ´400bn to build’ (at the time of construction), and that ‘revenue has covered costs from the earliest days’, Kasai describes the line as ‘unprecedentedly profitable’, but warns that ‘all the benefits and profit we can enjoy are used up repaying JNR’s debt’ – currently ´5500bn.Kasai suggests that JR Central’s managerial freedom in constructing the Chuo Shinkansen will be minimal. Warning that completion of the route ‘would not generate a dramatic rise in the number of passengers for JR Central’, he says ‘supply capacity will increase, so there will be little internal benefit – the Chuo Shinkansen cannot be a profit centre for JR Central.’ This is why he believes the line ‘should be constructed based on national economic perspectives as a national project.’Kasai says that ‘half the passengers now using the Tokaido Shinkansen will transfer to the Chuo Shinkansen, and they will represent two-thirds of all the Chuo Shinkansen traffic.’ He feels it is vital that ‘both corridors need to be managed together in such a way that both are in black figures.’So there is no question of making construction of the Chuo Shinkansen a commercial proposition in strict profit terms? ‘That’s right’, said Kasai. ‘When we look at the world’s infrastructure – airports, ports, highways – there are no profitable infrastructure investments so far apart from the Tokaido Shinkansen. They are all national projects.’If the Chuo project was being treated as one of national importance, had a target date been set for the line to be built? ‘No’, came the reply, ‘construction would depend on future economic growth, budget constraints and the decision-making capability of a future government. Although the project is important for national economic security, my understanding is that we are not in a very favourable state at the moment.’Kasai cited the history of the Tokaido Shinkansen. It was approved by the Diet in 1939, and construction work continued until 1942 before the war caused it to be abandoned. ‘Work resumed in 1959, and because so much was done pre-war, the line took less than five years to complete. A major project may take 10 to 20 years to plan, another 10 to build, and 20 to 30 more years may be needed to recover the cost. So we have to have a long-term perspective for railway projects – and I cannot give you a precise answer.’I asked Kasai when the remaining 25 km of the experimental Yamanashi test guideway would be completed. He believed that ‘confirmation of the practicality of using maglev for regular operation can be obtained on the 18·4 km priority section, but the remaining 25 km is necessary for long-term endurance tests, and a decision to build it will be made after considering the results of the experiments on the priority section.’ CAPTION: The 18·4 km priority section of the 42·8 km experimental maglev line in Yamanashi prefecture has been completed. Kasai says that the remaining 25 km will be needed for long-term endurance tests, and a decision to build it ‘will be made in consideration of the results of the experiments on the priority section’CAPTION: JR Central President Yoshiyuki Kasai with Railway Gazette International Editor Murray Hughes after a test ride on the Series 300XCAPTION: Experience gained with JR Central’s record-holding 300X experimental train will be translated into the design of the future Series 700 units. A Series 100 set passes the test train at MaibaraChuo Shinkansen sera un ‘projet national’Alors que JR Central se prépare à être coté en bourse en octobre, le Président, Yoshiyuki Kasai, explique à Murray Hughes que la ligne supraconductrice à sustentation magnétique Chuo Shinkansen sera construite un jour comme un projet stratégique national, apportant avec elle la sécurité économique d’une artère de transport autre que le Tokaido Shinkansen entre Tokyo et Osaka. Kasai pense que tous les essais nécessaires pour confirmer la faisabilité technique du projet peuvent être effectués sur le tronçon prioritaire de 18·4 km de la voie expérimentale dans la préfecture de YamanashiChuo Shinkansen wird ein ‘staatliches Projekt’ seinNun, da JR Central die Zulassung an der B?€?rse im Oktober vorbereitet, teilt Präsident Yoshiyuki Kasai Murray Hughes mit, daß die Chuo Shinkansen als Magnetbahn eines Tages als ein strategisches staatliches Projekt gebaut wird, das zur Tokaido Shinkansen die wirtschaftliche Sicherheit einer alternativen Verkehrsader zwischen Tokio und Osaka gewährleisten soll. Kasai ist der Ansicht, daß alle notwendigen Tests zur Erstellung der technischen Machbarkeit auf dem bereits fertiggestellten 18·4 km langen Abschnitt der Versuchsstrecke in der Yamanashi-Präfektur durchgeführt werden k?€?nnenChuo Shinkansen ser? un ‘proyecto nacional’JR Central se prepara para su salida a la bolsa en Octubre. Su presidente Yoshiyuki Kasai conversa con Murray Hughes sobre la línea de superconducción por levitación magnética Chuo Shinkansen, la cual ser? construida como proyecto nacional estratégico, suministrando la seguridad económica que proporciona gozar de una segunda arteria de transporte alternativa al Tokaido Shinkansen entre Tokyo y Osaka. Kasai cree que todas las pruebas necesarias para confirmer la viabilidad técnica del proyecto se podr? n realizar en la sección prioritaria de 18·4 km ya completada de la vía experimental en la prefactura de Yamanashilast_img read more

Carragher: Minamino gives Klopp a problem after Timo Werner miss

first_img Promoted ContentThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreWho Is The Most Powerful Woman On Earth?Couples Who Celebrated Their Union In A Unique, Unforgettable WayWhat Women Find The Most Attractive In Men From The 60-sWhy Do So Many Digital Assistants Have Feminine Names & Voices?Best Car Manufacturers In The World10 Inventions That Prove Humanity Is Failing Badly6 Incredibly Strange Facts About Hurricanes15 Celebs You Probably Didn’t Expect To Be Cheerleaders6 Interesting Ways To Make Money With A DroneBirds Enjoy Living In A Gallery Space Created For ThemPlaying Games For Hours Can Do This To Your Body “He’s gone with Minamino who’s a different type of player. “So in that front three you’ve got two who prefer to come towards the ball rather than run in-behind. Klopp blamed Liverpool’s finances for the decision not sign Werner. read also:Ranieri: ‘Sampdoria too timorous’ But Carragher also thinks the fact Salah and Sadio Mane won’t leave for African Cup of Nations duty mid-season is also a factor. He added: “I think [finances] was something to do with it, maybe also the situation that we’re in. Perhaps also maybe competitions getting moved. The Olympics and the Africa Cup of Nations which have been moved until [the end of] next season. “So Liverpool still have the front players with them.” FacebookTwitterWhatsAppEmail分享 Loading… Jamie Carragher believes the decision not to sign Timo Werner could come back to haunt Liverpool after assessing Takumi Minamino’s contribution. The Japan forward was handed a rare start against Everton as Mohamed Salah was left on the bench. But Minamino struggled to make an impression and was replaced at half-time. Liverpool had the chance to sign Werner this summer but walked away from the deal over the costs involved. That allowed Chelsea to nip in and seal a £47.5m deal – but Carragher feels this will be a big mistake. And the Sky Sports pundit doesn’t think Minamino can play in an advanced attacking role after the 0-0 draw. “You mentioned the Werner situation, Martin [Tyler],” Carragher said. “It’s interesting without someone who provides that pace and penetration like Salah.Advertisementlast_img read more