Podcasts about PMI

Justin Brady builds podcasts & DTC content for iconic brands. He has interviewed the founder of Starbucks and Hint, CEOs of Mattel and GoDaddy, Presidential candidates, Senators, US Ambassadors, #1 New York Times best-selling authors, and cable news personalities. He has written for The Washington Post, The Wall Street Journal, and Harvard Business Review, Brady started The Creativity Cultivator podcast nearly a decade ago with early guests like Matthew E. May, David Burkus, Jessica Kriegel, and Dan Pink. The show would go onto be in the Apple Podcast new and noteworthy charts and the top 1% of podcasts per iHeart Media. Today, Brady has interviewed hundreds of A-List leaders, best-selling authors, CEOs, White House cabinet members, Hollywood celebrities, and billboard performing artists. Brady has hosted numerous livestreams as an anchor/interviewer including a Soar.com stream featuring guest like Rep. Justin Amash, and The Global Peter Drucker stream live from Vienna's Hofburg Palace where he interviewed guests like author Edgar Schein, Pierre Le Manh, CEO of PMI, and Bloomberg Editor, Sarah Green Carmichael. Brady talks to groups on communication and how to use trust channels to rapidly scale relationships. He also leads workshops on content and podcasting strategy. Previous talks have been for Boston Techstars, Nashville Entrepreneur Center, the Minnesota AMA, and Knowledge Summit in Colorado Springs. Brady hosted a talk show on iHeartRadio, interviewing guests like Pauly Shore, Mike Rowe, and six USA Presidential Candidates during the Iowa Caucuses. He wrote on creativity, tech, design thinking, and workplace culture for The Wall Street Journal, The Washington Post, Quartz, The Creativity Post, and The Harvard Business Review. Brady owns Cultivate, a referral-only PR company. His clients have achieved hundreds of millions of impressions in Bloomberg, The Wall Street Journal, TIME, Axios, CNN, and through top influencers and YouTubers like Mr. Beast. To get in touch with Justin: https://justinkbrady.com/ To connect with Tyler: https://www.tylerkamerman.com/

In Build the Sidewalk Where People Already Walk, we explore what happens when project teams design based on real behavior instead of assumptions. Drawing from a Lean Coffee discussion and PMI's survey findings that the customer is the ultimate indicator of success, this episode challenges leaders to define “done” through the eyes of the end user. Kevin shares how observation, empathy, and feedback lead to better requirements, stronger outcomes, and lasting trust. Learn how to build projects that people actually use and appreciate.

In this episode, Ricardo discusses activity loops, which occur when tasks become predecessors and successors to each other, creating cycles that make schedule calculations difficult. Although schedules are designed for linear flows, engineering and innovation projects are often iterative, with constant revisions and feedback. Looping isn't a mistake, but it needs to be represented correctly. Ricardo suggests some ways to avoid this problem, such as creating successive versions (elaboration 1, 2, final), using intermediate milestones, or delayed start-start relationships. When interdependence is unavoidable, he recommends using the Design Structure Matrix (DSM), which maps circular relationships and helps plan blocks of iterative activities. The important thing is to choose the model that best represents the project's reality. Listen to the podcast to learn more!

Josh aimed to start our week with the delightful laughter of a little boy, who had just shared a funny joke about his pet's name with his mom. Jeremy, on the other hand, shares a more somber tale, while Katy wraps things up with something quite intriguing.The fun continues on our social media pages!Jeremy, Katy & Josh Facebook: CLICK HERE Jeremy, Katy & Josh Instagram: CLICK HERE

Neste episódio, Ricardo fala sobre os loops de atividades, que ocorrem quando tarefas se tornam predecessoras e sucessoras entre si, gerando ciclos que dificultam o cálculo dos cronogramas. Embora os cronogramas sejam pensados para fluxos lineares, projetos de engenharia e inovação costumam ser iterativos, com revisões e feedbacks constantes. O loop não é um erro, mas precisa ser representado corretamente. Ricardo sugere algumas formas de evitar esse problema, como criar versões sucessivas (elaboração 1, 2, final), usar marcos intermediários ou relações início-início com atraso. Quando a interdependência é inevitável, ele recomenda o uso da Design Structure Matrix (DSM), que mapeia relações circulares e ajuda a planejar blocos de atividades iterativas. O importante é escolher o modelo que melhor represente a realidade do projeto. Escute o podcast para saber mais!

Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news expectations are gyrating around the upcoming US-China leaders meeting. Markets have high expectations and are pricing in a positive outcome. For US markets, this is relatively modest and a 'relief'. For Chinese markets, and Asian markets more generally, it is very positive.A surge in market euphoria could well bring a surge in commodity prices, and in turn, inflation. This will complicate the US Fed's Thursday decision - but they won't know the final outcome of the Xi-Trump meeting when they make their decision later this week and that is awkward for them.Even before the results of the key meeting are known, Chinese industrial firms' profits rose more than +20% in September from the same month a year ago amid ongoing policy measures to revive business and consumer sentiment. Private-sector earnings strengthened markedly, while losses among state-owned enterprises narrowed quickly.Meanwhile, the stutter China had in foreign direct investment in the April to June period also seems to be over. In September, they attracted +¥68 bln in FDI, more than the +¥61 bln in the same month of 2024. But that earlier hesitation still means they are running more than -10% lower than last year, and 2024 was the weakest year they had for foreign direct investment in more than a decade. It may be improving slightly, but they are still in a serious shadow.And we should probably note that the hesitation about relationships with the US are expanding. Countries may 'engage' with the US transactionally to hold on to trade links, but China is winning. This is clear from Indonesia ordering Chinese fighter jets for its air force, and other naval equipment.In the US the data isn't quite so positive, although you wouldn't know it from the Wall Street signals today. Despite 'improving', the Dallas Fed factory survey is still reporting negative overall conditions. New orders shrank less, and manufacturing conditions remained below average. Perceptions of broader business conditions worsened somewhat in October and optimism about the next six months waned. But prices and wage pressures eased, the survey showed.Over the weekend, the US released its September CPI inflation data and it rose to 3.0%, up from 2.9% in August. This was slightly less than the expected 3.1% but it is still its highest level since June 2024. Energy costs, food and rents came in higher than that but petrol prices were lower.One factor to watch is that the rate of increase in the past two months is closer to +4% on an annualised basis. The number reported today relies on the low increases they had in 2024 and February to May. When those months work their way out of the annual calculation, the higher pressure outside those periods will come into play.Meanwhile, the University of Michigan consumer sentiment survey reported that Americans feel inflation is running at 4.6% and they downgraded their earlier confidence reading to now be -24% lower than year-ago levels.The internationally benchmarked PMI report for the US for October reported a strong start to the fourth quarter, with expansions in both the services (55.2) and factory sectors (52.2).If there is a relaxation of trade tensions after the China-US meeting, Australia could be a big beneficiary. And markets are starting to price that in.We should also probably note that the price of aluminium (or aluminum if you prefer) is rising fast again, back up to levels first reached in the pandemic spike. Causing this current surge is the price the Americans are prepared to pay because of their self-imposed tariffs, as producers avoid that market. Those American buyers are being hit twice.Also worth noting is a sudden rise in the price of sulfur (or sulphur if you prefer). Causing this spike is a fall in supply from some key oil producers (sulfur is a bi-product), when demand is rising for fertilisers.The UST 10yr yield is now at 4.00%, dipping -1 bp from yesterday. The price of gold will start today at US$3993/oz, down -US$118 overnight.American oil prices are -holding from yesterday at just over US$61.50/bbl, with the international Brent price still just on US$66/bbl.The Kiwi dollar is now at just on 57.7 USc, and up +20 bps from this time yesterday. Against the Aussie we are down -40 bps at 87.9 AUc. Against the euro we are up +10 bps at 49.5 euro cents. That all means our TWI-5 starts today at just under 62.2 and up +20 bps from yesterday.The bitcoin price starts today at USD$115,614 and up +1.8% from this time yesterday. Volatility over the past 24 hours has again been modest at just on +/- 1.3%.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Bentornati e bentornate su Azure Italia Podcast, il podcast in italiano su Microsoft Azure!Per non perderti nessun nuovo episodio clicca sul tasto FOLLOW del tuo player

In questo nuovo episodio di Punto PMI, analizziamo l'avvio dell'iter parlamentare della Legge di Bilancio 2026, con le misure chiave su fisco, lavoro e famiglia. Tra le novità, la riduzione dell'aliquota IRPEF dal 35 al 33% per il secondo scaglione, la detassazione dei premi di produttività e dei rinnovi contrattuali, e il bonus mamme lavoratrici che sale a 60 euro al mese. Focus anche sulla nuova stretta sugli affitti brevi, che porta la cedolare secca al 26% per chi utilizza piattaforme online. Nella seconda parte, parliamo della prima legge annuale sulle PMI, approvata in Senato: introduce misure per favorire il ricambio generazionale con il part time incentivato, una certificazione di conformità per la filiera della moda, agevolazioni fiscali per le reti d'impresa e nuove norme contro le false recensioni online.

Kevin Green breaks down much-needed economic data seen in today's September CPI print delayed due to the economic shutdown. He also explains how PMI reached "contractionary territory" and why the party divide in consumer sentiment is important despite a "little changed" headline number.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

Hablamos de Trump y emperadores con guiño a Napoléon, además del IPC americano y los PMI de la Eurozona y Alemania. Con Alexis Ortega, analista independiente.

Nossos sócios Luiz Eduardo Portella, Tomás Goulart, Sarah Campos e Victor Ary debatem, no episódio de hoje, os principais acontecimentos da semana no Brasil e no mundo. No cenário internacional, o CPI dos EUA veio abaixo do esperado, mostrando que o repasse das tarifas sobre bens continua fraco; enquanto os PMIs subiram, puxados por serviços. Na Europa, os PMIs também surpreenderam positivamente, com melhora puxada pela Alemanha. Já no Reino Unido, o CPI de setembro surpreendeu para baixo e o PMI também veio mais forte. A tensão geopolítica aumentou com novas sanções a empresas russas.  No Brasil, o IPCA-15 veio abaixo do esperado, com queda significativa de serviços subjacentes e melhora da dinâmica dos núcleos. O Focus trouxe melhora nas expectativas de inflação, principalmente nos vértices mais longos. O governo decidiu incorporar as despesas que constavam na MP 1.303 em outras propostas, separando a parte de redução de despesas da parte de aumento de receitas, com o primeiro apresentando maior probabilidade de aprovação. As pesquisas eleitorais mostraram resultados divergentes, com melhora e piora na avaliação do governo. No mercado de crédito, o destaque foi a reversão parcial da forte compressão dos spreads de debêntures incentivadas observada desde junho. O índice de debêntures incentivadas abriu 40 bps nos últimos 10 dias, devolvendo quase metade do fechamento acumulado anteriormente. Mesmo assim, a semana foi marcada por forte volume no primário, com R$3,5 bi em novas emissões incentivadas, além de pipeline robusto. Nos EUA, as bolsas subiram (S&P 500 +1,92%), os juros curtos abriram marginalmente, e os longos fecharam marginalmente. No Brasil, o Ibovespa subiu 1,93%, os juros fecharam (jan/31 -31 bps) e o real valorizou 0,40%. Na próxima semana será importante acompanhar os encontros do Trump com Lula e Xi Jinping; decisões do Fed, ECB, BOC e BoJ; dados de atividade e inflação na Europa e inflação no Japão; e dados de mercado de trabalho e crédito no Brasil. Não deixe de conferir!

A Host Milano la trasformazione digitale della ristorazione non è più un tema da convegno, è gestione quotidiana. Francesco Tansella, CEO di Olivia, racconta una svolta semplice quanto radicale: far "parlare" i dati del ristorante su WhatsApp. Come? Partendo dal gestionale di cassa (iPratico) e integrando fonti esterne - cassetto fiscale, costo del lavoro, recensioni - in un unico database su cui si innesta un'IA generativa "alla ChatGPT" che risponde a voce o testo come fosse il tuo consulente, ma in tempo reale . L'impatto manageriale è evidente: se ogni lunedì arriva su WhatsApp un riepilogo di fatturato, prodotti più venduti e andamento del margine, il controllo di gestione non è più un "progetto" ma un'abitudine operativa; il dato diventa leva di decisione e non più rincorsa a fine mese . La conversazione si sposta dal "quanto ho speso?" al "come ottimizzo domani?". Siamo davvero pronti a fare budgeting in chat? Il caso Olivia mostra che la semplificazione dell'interfaccia (la famosa dashboard che si riduce a un messaggio) è la scorciatoia giusta per far scalare l'uso del dato in PMI e microimprese, evitando overload informativo e investendo su visualizzazioni essenziali: pochi numeri, colori chiari, comprensione immediata . Sul piano operativo, la stessa infrastruttura abilita previsioni di magazzino: partendo dalle vendite e dalle ricette si risale alla materia prima e, sotto soglia, si può arrivare a riordinare con un semplice audio su WhatsApp . Verticalità è la parola chiave: niente avventure orizzontali, focus totale sul food per conservare precisione e velocità d'esecuzione. E la cultura? Due leve: formazione e semplicità. In Italia decine di migliaia di ristoratori stanno investendo in corsi e masterclass; quando il mercato impara a leggere EBITDA e costo del venduto con costanza, il salto di qualità diventa sistemico. Se poi l'output arriva in PDF o in chat con 4-5 KPI chiave (fatturato settimanale, coperti, costo del venduto, EBITDA), l'adozione diventa irreversibile . Ma come si convince chi "ha sempre fatto così"? Non si parte dagli scettici: si lavora con innovators ed early adopters, si crea massa critica e si lascia che i follower vedano i risultati - per esempio "vedere il margine in automatico" allo stand - prima di salire a bordo . E per disinnescare la "negazione dell'evidenza", Olivia propone una challenge: 30 giorni di confronto fra le performance del ristorante e le previsioni/ottimizzazioni dello strumento; alla fine i numeri parlano da soli. Se proprio non bastasse, Francesco rilancia: "sfida sulla previsione di fatturato di domani" e verifica a consuntivo. La domanda vera, allora, è un'altra: siamo pronti a spostare il controllo di gestione dove stanno già le conversazioni del team - in una chat - e a misurare con rigore cosa funziona ogni 30 giorni? Chi lo farà per primo, farà scuola. Gli altri seguiranno, come sempre avviene quando innovazione e ritorno economico si incontrano.

La eurozona registra en octubre una expansión más rápida de la actividad empresarial con crecimiento en los dos sectores, el servicios y el manufacturero, según el índice PMI, que aumenta de 51,2 registrado en septiembre a 52,2 en octubre, situándose por encima del nivel de ausencia de cambios de 50 por décimo mes consecutivo y señalando un aumento mensual sólido de la actividad empresarial. La Comisión Europea declara que Meta y TikTok incumplen su obligación de conceder a los investigadores un acceso adecuado a los datos públicos en virtud de la Ley de Servicios Digitales. Continúa la temporada de presentación de resultados empresariales con las cuentas de Sanofi y del grupo sueco de defensa Saab. De vuelta a la actualidad nacional, el paro sube en 60.100 personas en el tercer trimestre mientras la ocupación logra un nuevo récord de 22 millones de ocupados, según la EPA. Entrevistaremos a Oscar Soto, escritor de la novela "El ángel y la muerte", premio de Novela Ateneo de Sevilla 2025. En la tertulia de Cierre de Mercados debatiremos la actualidad con Carlos Puente, analista político.

Los tres principales índices de Bolsa estadounidenses renuevan máximos históricos intradía. Lo hacen gracias a la creciente confianza de los inversores en que la Reserva Federal bajará tipos la próxima semana y de nuevo en diciembre, y a los últimos resultados empresariales. Una lectura de los precios al consumo de septiembre ligeramente más fría de lo esperado apoya las esperanzas de recorte de tipos y anima el ambiente. Sin embargo, la Casa Blanca dice que probablemente no habrá publicación de datos de inflación el mes que viene debido al cierre del Gobierno estadounidense. Por otro lado, Trump pone fin a todas las conversaciones comerciales con Canadá después de que un anuncio político canadiense utilizara la voz del difunto presidente Ronald Reagan para criticar los aranceles. Hemos conocido más referencias. El índice flash de actividad PMI compuesto muestra que la actividad empresarial repunta en octubre, pero un deterioro de las perspectivas económicas achacado a la política comercial proteccionista limita las ganancias de empleo. El índice de semiconductores de Filadelfia sube alrededor del 2% después de alcanzar un récord intradía y superar al mercado en general. Analizamos el mercado con Ignacio Cantos, de ATL Capital.

Il calo della natalità in Italia continua: nel 2024 si contano 10.000 nati in meno e un tasso di fecondità sceso a 1,18 figli per donna. Entro il 2050 la popolazione in età da lavoro diminuirà di oltre 7 milioni di persone, mettendo a rischio la tenuta del sistema economico.Per sostenere il mercato del lavoro, l'inserimento regolare dei migranti diventa cruciale. L'immigrazione genera benefici economici: nel 2022 il saldo tra entrate e uscite è stato positivo per 3,2 miliardi di euro. Unioncamere stima un fabbisogno di 600 mila lavoratori nel 2025, ma le richieste non potranno essere soddisfatte dal mercato interno né dai paesi dell'Est Europa. Servono quindi nuovi ingressi da paesi extraeuropei, anche a bassa qualificazione, nei settori dell'agricoltura, dell'industria e dei servizi. Tuttavia, il sistema italiano è lento e inefficiente: a fronte di 680 mila richieste nel 2024, solo 9 mila permessi sono stati effettivamente rilasciati. Le grandi aziende riescono a gestire meglio i flussi, ma le Pmi restano penalizzate da burocrazia e mancanza di strumenti. Affrontiamo il tema con Tommaso Frattini, Professore di Economia all'Università Statale di Milano; Michelangelo Agrusti, Presidente Confindustria Alto Adriatico.Affitti brevi, l'extra tassa scatta per chi passa da Airbnb o BookingLa stretta sugli affitti brevi è stata parzialmente modificata: l'aumento generalizzato dal 21 al 26% della cedolare secca è stato eliminato dal testo della Legge di Bilancio, ma resta in vigore per la maggior parte dei casi. Chi affitta attraverso intermediari o portali come Airbnb o Booking dovrà comunque applicare l'aliquota del 26%. Il sistema prevede oggi un'aliquota base del 26% e la possibilità di applicare il 21% per un solo immobile, ma la nuova norma specifica che questa opzione non è ammessa se l'immobile è stato affittato tramite intermediari. In sostanza, l'aumento resta per la gran parte dei locatori, dato che circa il 90% degli affitti brevi passa dalle piattaforme online.La misura ha suscitato critiche politiche e di categoria: Forza Italia e Lega si sono dette contrarie, mentre Fratelli d'Italia ha annunciato che in Parlamento si cercherà una mediazione. Il presidente di Aigab, Marco Celani, ha parlato di "rimodulazione che non cambia nulla", definendo la misura "una patrimoniale mascherata" che aumenta la pressione fiscale su un settore ormai strutturato e fondamentale per l'offerta turistica italiana. Ne parliamo con Giovanni Parente, Il Sole 24 Ore

In this episode of The Pediatric Lounge, hosts Dr. Bravo and George discuss various topics ranging from significant healthcare events to internal policy challenges. They highlight important conferences such as the 8th Symposium on General Population Screening for Type 1 Diabetes at the Barbara Davis Center for Diabetes and the PMI conference in New Orleans. The central discussion focuses on recent changes in A CIP decisions, especially those related to vaccine recommendations and public health policies. The episode features guest experts like Dr. John Caine and Kristen Struble, who provide their insights on the implications of these policies for pediatric practice. The dialogue touches on the challenges of maintaining public trust, shared decision-making in vaccinations, and the impact of political interference in medical guidelines.00:00 Introduction to The Pediatric Lounge Podcast00:39 Upcoming Events and Symposiums02:38 Discussion on ACIP Decisions and Impact03:29 COVID-19 Vaccine Policies and Controversies09:13 Critique of Public Health Administration13:53 Debate on Vaccine Recommendations and Practices30:08 The Role of Big Pharma in Medicine40:39 Thimerosal in Vaccines: A Historical Perspective43:52 Debating the Opposition to Multi-Dose Vials45:03 Concerns Over Hepatitis B Vaccination at Birth49:29 The Role of Politics in Vaccine Recommendations56:48 Challenges in Communicating Vaccine Information59:20 Shared Decision Making in COVID-19 Vaccination01:07:02 The Impact of Anti-Vaccine Movements01:12:44 The Importance of Trust in Medical Practice01:21:46 Concluding Thoughts and ReflectionsSupport the show

Deanna Landers, founder of Project Managers Without Borders (PMWB), shares how project management can deliver more than results, it can deliver hope. Now part of PMI, PMWB unites professionals worldwide to lead sustainable, humanitarian initiatives. Deanna discusses the organization's growth, opportunities for volunteer project managers, and the parallels between navigating the open seas and managing complex projects. It's an inspiring look at how our profession can create lasting impact, one project at a time.

Welcome to Go Gaddis Real Estate Radio! I'm Cleve Gaddis—here to help you move from novice to confident pro so buying and selling a home is clear, simple, and worry-free. In this episode, we're covering three major topics that every homeowner and buyer should know: Neighborhood Spotlight: Explore Brookshire in Woodstock, a vibrant Cherokee County community known for its amenities, charm, and unbeatable location near Downtown Woodstock. Open Houses — Help or Hype? Balloons, cookies, and curious neighbors—are open houses really effective in selling homes, or just a marketing tool for agents? Listener Gloria from Peachtree Corners asks if open houses still matter in an online world. The Truth About PMI (Private Mortgage Insurance): Arthur from Atlanta wants to know if PMI is tax deductible or just another monthly cost that disappears into thin air. We'll unpack the real financial implications of those three little letters. Plus, I'll share details about our Upside program, designed to give homeowners and buyers all the flexibility and confidence they need to make smart moves in any market. Got a question, comment, or topic idea? Visit GoGaddisRadio.com to connect, push back, or subscribe so you never miss an episode.

October 20, 2025 | Season 7 | Episode 39Fear is loud, but context is louder. We open with the classic wall of worry and show why widespread crash talk can be oddly protective, then parse what actually matters now: a Fed tilting to cuts, resilient big-bank earnings, and a stealth risk that portfolios are measured in weakening dollars, not just rising prices. Along the way, we size up tech's towering influence—more than a quarter of the S&P 500 in four names—and the uncomfortable truth that many index investors are taking a bigger tech bet than they realize.From there, we get practical. If you're approaching retirement, sequence risk is the shark you can't see. We lay out a simple plan to sleep better: calculate your net annual withdrawal need and hold roughly ten years of it in short-term and intermediate high-quality bonds. That reserve lets you ride out drawdowns without selling stocks at the worst time. We also cover liquidity tactics for illiquid portfolios—think HELOCs as a safety valve—plus how to audit a household budget after 60 and why Social Security deferral can be the highest-return decision you make, with survivor benefits that can extend the upside for a spouse.We widen the lens with timely market currents: trade negotiations with China, a key CPI release, PMI updates, and a dense earnings week that can sway sentiment. Gold's powerful breakout takes center stage as central bank buying, softer real yields, and currency diversification fuel new highs, while we caution against treating any hedge as a hero. For balance, we spotlight a defensive equity idea: staples like Colgate, with global brands, entrenched distribution, and steady dividends, as a counterweight to an AI-driven market. The throughline is resilience—diversify beyond mega-cap tech, reintroduce international exposure and equal-weight strategies, fund a decade of withdrawals safely, and protect your ability to choose patience over panic.Enjoy the show, then take a moment to review your allocations, cash buffers, and income timing. If this helped, follow, share with a friend who's rethinking risk, and leave a quick review so more investors can find us.** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice. For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure **To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-formFollow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

Deze week blikt Danny Reweghs vooruit op de PMI-index, zowat de enige indicator die ons een blik gunt op de nabije economische toekomst. We bespreken ook de aankomende kwartaalresultaten van techtoppers Netflix en SAP. In Trends podcasts vind je alle podcasts van Trends en Trends Z, netjes geordend volgens publicatie.  De redactie van Trends brengt u verschillende podcasts over wat onze wereld en maatschappij beheerst.  Vanuit diverse invalshoeken en met een uitgesproken focus op economie en ondernemingen, op business, personal finance en beleggen.  Onafhankelijk, relevant, telkens constructief en toekomstgericht.  Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, Ricardo explains that projects don't really fail — they reveal the truth about an organization. Projects act as mirrors, exposing hidden cultural flaws like poor alignment, weak leadership, and political decisions. When pressure from deadlines and budgets increases, the organization's true nature surfaces: silos, egos, and fear replacing collaboration. A troubled project is not a failure but an X-ray showing what is broken and who has the courage to fix it. Crises test maturity and trust, revealing whether teams can speak honestly or stay silent. The real mistake is ignoring these lessons and repeating errors. Ricardo explains that learning from failing projects leads to real growth and invites listeners to explore his new course on recovering troubled projects. Listen to the podcast to learn more!

Neste episódio, Ricardo explica que um projeto não dá errado, mas revela a verdade sobre a organização. Projetos funcionam como espelhos: refletem a cultura da empresa, mostrando falhas escondidas, como falta de alinhamento, comunicação e propósito. Quando há pressão por prazos e orçamentos, a realidade aparece e a cultura verdadeira se expõe — se é de confiança ou de medo. Projetos em crise revelam maturidade organizacional e ensinam, ainda que com dor, quem tem coragem de enfrentar problemas e quem se esconde. O fracasso real está em não aprender com essas lições e repetir os mesmos erros. Ricardo destaca que compreender por que os projetos falham é essencial para recuperar e fortalecer tanto os projetos quanto as organizações. Escute o podcast para saber mais!

Stiamo entrando nell'era del 5G via satellite con i primi test di connettività in tutto il mondo. "Siamo il primo operatore satellitare che permette a un apparato 5G IOT di connettersi senza cambi nell'hardware anche alla rete satellitare quando non hanno la rete cellulare" dice Gianluca Redolfi, chief commercial officer della società spagnola Sateliot. Una piattaforma software per semplificare la gestione amministrativa e finanziaria delle PMI. È quella sviluppata da TOT, come ci racconta Doris Messina, co-fondatrice e ceo della startup che ha recentemente concluso un round di finanziamento del valore di 7 milioni di euro. Parliamo di intelligenza artificiale cercando di capire cosa potrebbe esserci dopo gli LLM attuali. Giotto AI è una startup svizzera sta sviluppando un'AI avanzata in grado di effettuare ragionamenti in tempo reale, in modo più efficiente, con meno dati tentando di replicare modalità simili al cervello umano. L'obiettivo è andare verso un'intelligenza artificiale generale (AGI) come ci spiega Aldo Podestà, AD e cofondatore di Giotto AI. E come sempre in Digital News le notizie di innovazione e tecnologia più importanti della settimana.

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 Thinking about refinancing but not sure if it really makes sense?

Are you defining project success the wrong way? Most project managers are — at least according to PMI's Dave Garrett. Project Management Happy Hour hosts Kim Essendrup and Kate Anderson sit down with Dave — Senior Advisor at the Project Management Institute (PMI) and co-founder of ProjectManagement.com — for a frank and real conversation about PMI's new definition of project success to talk about how realistic it is, and what it means for the future of our profession. For decades, project success was judged by the “iron triangle” — scope, schedule, and budget. But PMI has officially redefined it: “A successful project is one that delivers value worth the effort and expense.” Dave explains how this updated definition shifts the focus from checking boxes to delivering outcomes that truly matter — and how every PM can start measuring success through value creation instead of rigid constraints. The discussion digs into PMI's new M.O.R.E. framework — a practical mindset for modern project leaders: M – Manage Perceptions: Build trust and alignment with stakeholders. O – Own Success: Don't just deliver; ensure the value lands. R – Relentlessly Reassess: Constantly re-evaluate priorities and adapt to change. E – Expand Perspective: See the bigger picture across business strategy, customers, and society. Dave also shares lessons from his early startup days building Gantthead.com, the dot-com crash, and how those lessons apply in today's AI-driven project world. You'll hear how the rise of automation is making project management more human, pushing PMs to lead through empathy, influence, and strategic insight rather than process checklists. If you've ever struggled with the question, “Was my project really a success?”  this episode will give you a fresh, empowering way to answer it. Key Takeaways PMI's official definition of project success now centers on value, not just time, cost, and scope. The M.O.R.E. mindset helps PMs evolve beyond administrators into strategic leaders. AI will augment, not replace, project managers — freeing them to focus on human connection and business impact. “Success” is contextual: a delayed project that delivers exceptional value can still be a win. Guest Links Learn more about PMI's Project Success initiative: pmi.org/projectsuccess Connect with Dave Garrett on LinkedIn Explore PMI's AI resources: pmi.org/ai  Want even more? Join us at pmhappyhour.com/membership to get PDU certificates for episodes, downloadable templates, access to our PM community, and 1:1 time with Kim and Kate.      

Il governo prosegue sulla strada di un contributo straordinario dal settore bancario per finanziare la manovra. Il Documento di programmazione finanziaria prevede risorse per circa 4,5 miliardi, includendo per la prima volta anche le assicurazioni. L'ipotesi è una doppia misura: una tassa del 27,5% per l'affrancamento degli utili accantonati nel 2023 (pari a 6,2 miliardi nel complesso) e un'imposizione progressiva sugli utili futuri dal 2026 in caso di mancato affrancamento. Il gettito atteso è di 1,7 miliardi, cui si aggiungerebbero 1,1 miliardi dall'imposta del 26% sui dividendi distribuiti, arrivando a 2,8 miliardi. A questi si sommerebbero circa 900 milioni dal rinvio delle Dta residue e altri 800 milioni dalla replica della misura sull'Ifrs9 e sull'avviamento. L'Abi, riunitasi il 13 ottobre, ha ribadito la contrarietà a una nuova tassa sui profitti, giudicata retroattiva e lesiva del patrimonio, ma si è detta disponibile a un nuovo contributo volontario, purché sotto forma di anticipo di liquidità e non destinato a misure come la rottamazione delle cartelle. In studio Laura Serafini, Il Sole 24 OreModa, Urso convoca le associazioni del settore: Sistema Italia unito contro l'ultra fast fashionIncontro urgente a Palazzo Piacentini tra il ministro Adolfo Urso e i rappresentanti della filiera moda - tra cui Capasa, Sburlati, Lunelli, Marini e Vignolini - per affrontare la crisi del comparto. Urso ha annunciato un provvedimento contro l'invasione di prodotti a basso costo, completando il percorso legislativo avviato in Senato sulla trasparenza e la qualità del lavoro. Il nuovo intervento introdurrà la responsabilità estesa del produttore (EPR), imponendo anche ai marchi extra-Ue che vendono in Italia di rispettare le norme ambientali e di tracciabilità europee. Previsto anche un sistema volontario di certificazione "Filiera della moda certificata" sotto il controllo del Mimit e dell'Antitrust. L'obiettivo è difendere la concorrenza leale e valorizzare le imprese virtuose. Urso ha inoltre annunciato la convocazione del Tavolo della Moda per il 17 novembre, per definire un piano di rilancio del settore, penalizzato dal calo dell'export e dall'aumento dei costi produttivi. Ne parliamo con Luca Sburlati - Presidente Confindustria ModaCina sempre più in deflazione e aumenta l'export in Europa. Rischio invasione?La Cina è sempre più vicina a una spirale deflazionistica: a settembre i prezzi al consumo sono calati dello 0,3% su base annua e quelli alla produzione del 2,3%, confermando tre anni consecutivi di flessione. Pesano la crisi immobiliare, la domanda interna debole e la disoccupazione giovanile, mentre Pechino tenta di frenare la guerra dei prezzi con la campagna "anti-involuzione". Parallelamente, l'export cinese cresce dell'8,3% annuo, trainato da Asia e Unione Europea (+8,2%), mentre crollano le esportazioni verso gli Stati Uniti (-27%). Il rischio per l'Europa è un'invasione di merci cinesi a basso costo, effetto collaterale della guerra commerciale tra Washington e Pechino. Le tensioni si acuiscono dopo le nuove restrizioni cinesi all'export di terre rare, accusate dagli Usa di minacciare l'economia globale. Pechino replica promettendo di "combattere fino alla fine" nelle trattative commerciali. Il commento è di Fabio Scacciavillani, economista, editorialista Sole24 OreAumentano il numero e il valore dei veicoli commerciali in leasingIl mercato del leasing cresce del 5,2% nei primi nove mesi del 2025, con 26 miliardi di stipulato e quasi 559mila operazioni. Trainano i beni strumentali (+15,1%) e il comparto auto (+0,7%), grazie al balzo dei veicoli commerciali. A Milano, il 22 e 23 ottobre, si terrà la settima edizione del Salone del Leasing con 11 tavole rotonde dedicate a finanza, imprese e innovazione. Secondo Assilea, aumenta la quota di veicoli green (62,4% delle immatricolazioni leasing e noleggio) e il comparto immobiliare cresce del 3,5%, sostenuto dal segmento da costruire (+14,5%). Fortissimo il comparto aeronavale/ferroviario (+55,8%) e il leasing di impianti fotovoltaici (+24,9%). Il direttore generale Luca Ziero sottolinea che il leasing è uno strumento chiave per la crescita delle PMI: le imprese che lo utilizzano mostrano maggiore propensione all'espansione, alla digitalizzazione e all'export rispetto alla media nazionale. Interviene Luca Ziero, Direttore Generale Assilea

Anna Gregorio è un'imprenditrice e docente dell'Università di Trieste, che coordina missioni spaziali per l'Agenzia Spaziale Europea e, contemporaneamente, ha fondato un'azienda oggi riconosciuta come PMI innovativa dell'anno. La sua storia intreccia scienza, determinazione e la capacità di affrontare sfide straordinarie, spesso senza ricevere il riconoscimento che meritava.Nata e cresciuta a Trieste in una famiglia economicamente stabile, Anna sogna l'indipendenza economica ma ha il mandato di studiare: «Avrei voluto fare qualche attività per essere indipendente, però mi era praticamente vietato, perché dovevo studiare: prima l'università, poi il dottorato, ed è chiaro che è difficile essere indipendenti con la borsa di dottorato».La svolta della sua carriera scientifica arriva con la missione Planck dell'Agenzia Spaziale Europea, in cui le viene dato un ruolo di primo piano. Un'esperienza intensa e globale che le permette di acquisire competenze uniche e riconoscimenti internazionali. Tuttavia, al rientro in Italia, il meritato riconoscimento economico e professionale non arriva: «Sono passati tutti i miei colleghi davanti a me, io proprio in coda ultima». È una delusione che la segna profondamente, ma non la ferma.Da questa frustrazione nasce la decisione di fondare un'azienda nel settore spaziale. Determinata a riconoscersi da sola il merito che l'accademia non le dava, affronta anni iniziali durissimi, ma la sua esperienza e reputazione aprono porte importanti. Dopo la pandemia arrivano i primi finanziamenti, e nel 2021 l'azienda conquista il primo cliente commerciale in Europa, fino ad arrivare a lanciare tre sistemi in orbita, incluso un satellite per il 5G nel luglio 2025.Nonostante il successo imprenditoriale le abbia finalmente permesso di valorizzare il proprio lavoro, l'insoddisfazione in ambito accademico resta. Gestire un'azienda l'ha costretta a lavorare part-time all'università, ma il compromesso non si traduce in più tempo libero: «In realtà lavoro molto più dei miei colleghi e, nonostante questo, vengo pagata solo due terzi del loro stipendio». Una contraddizione che Anna affronta con pragmatismo, ma che racconta quanto spesso il riconoscimento formale non segua il vero valore del lavoro.Accanto a lei c'è suo marito, compagno di vita e di passioni, che la supporta nella gestione economica familiare. Insieme condividono l'amore per la vela e lo sci, e con lui, Anna ha imparato che il denaro non è solo un fine, ma uno strumento per coltivare i propri desideri fuori dalla sfera lavorativa. 

We have a semi PMI here. We were sidetracked by some...fascinating news regarding what occurred with Josh over the weekend.The fun continues on our social media pages!Jeremy, Katy & Josh Facebook: CLICK HERE Jeremy, Katy & Josh Instagram: CLICK HERE

In this episode, Ricardo discusses AI washing, a growing trend where organizations falsely claim to use artificial intelligence. Similar to greenwashing, AI washing occurs when companies exaggerate their AI capabilities to attract investors or appear innovative. In reality, many so-called AI systems are just basic automation or rule-based tools. This practice creates serious risks, including loss of credibility, legal issues, and project failure. Vargas highlights warning signs: flashy storytelling over science, unrealistic promises, lack of true AI experts, neglect of data quality, and poor governance. He explains that real AI projects require transparency, solid data, ethics, and humility—reminding project managers to avoid overpromising and to focus on genuine, data-driven value instead of hype. Listen to the podcast to learn more!

Neste episódio, Ricardo discute o AI washing, uma tendência crescente em que organizações alegam falsamente usar inteligência artificial. Semelhante ao greenwashing, o AI washing ocorre quando as empresas exageram suas capacidades de IA para atrair investidores ou parecer inovadoras. Na realidade, muitos dos chamados sistemas de IA são apenas ferramentas básicas de automação ou baseadas em regras. Essa prática cria sérios riscos, incluindo perda de credibilidade, questões legais e fracasso de projetos. Vargas destaca os sinais de alerta: narrativas chamativas em detrimento da ciência, promessas irrealistas, falta de verdadeiros especialistas em IA, negligência com a qualidade dos dados e governança deficiente. Ele explica que projetos reais de IA exigem transparência, dados sólidos, ética e humildade — lembrando os gerentes de projeto de evitar promessas exageradas e focar em valor genuíno, baseado em dados, em vez de exageros. Escute o podcast para saber mais!

Join me as I speak with Dana Bernstein about conflict, inner-critics, core values, getting along with co-workers and more! Dana Bernstein is a Conflict Resolution author, speaker, consultant and Principal of Dare to Live Brave. With 2,500+ coaching hours and 100+ clients, she specializes in de-escalation, negotiations, contracts, project management, and high stakes situations representing universities, government, banking and courts. She founded and manages a family-run animal hospital. Dana published 30 articles on contracts and negotiations (1995-2007). She produced 8 PMI webinars with “Mastering the Art of Human-ness in Project Management: Serving Others Through Powerful Communication,” garnering 52,500 views since March 2020. In 2025, Dana published “It's the Thought That Counts: Mastering the Art of YOU vs. you,” an interactive book helping individuals resolve internal conflict to better navigate external challenges. Dana has a Master's in Dispute Resolution from Montclair State and is a court-appointed volunteer mediator. She is an ICF NJ Board Member, Co-Director of Programs with a PCC Credential. She is a Project Management Professional (PMP) and Certified Meeting Professional (CMP). An avid volunteer, Dana has been working with the Girl Scouts and the Girl Scout Service Unit Leadership Team for 15 years. She is a strong supporter of women advocating for informed health choices for those who have breast cancer. Dana helps people to use their voice in managing conflict. Dana offers a vast portfolio of business accomplishments with a proven track record of leadership and successful outcomes. https://danalynnbernstein.com/

JKJ brings you PMI! Katy has the positive story today, Jer hits us with a Minus, and Josh brings us home with an Interesting story! The fun continues on our social media pages!Jeremy, Katy & Josh Facebook: CLICK HERE Jeremy, Katy & Josh Instagram: CLICK HERE

In questo secondo episodio di Road to Social Change siamo stati a Napoli per parlare di sostenibilità integrale nella filiera del food. Insieme a Giada Maldotti, Partner di BCG, parliamo di come questo settore rappresenti un laboratorio per la sostenibilità e di come è possibile per le PMI italiane disegnare processi produttivi sostenibili che risultano essere più competitivi e innovativi, con ritorni importanti per territorio e imprese. Firma la proposta di legge di iniziativa popolare per chiedere una legge sul voto fuorisede: https://shor.by/GcvZ Learn more about your ad choices. Visit megaphone.fm/adchoices

Today, Jeremy shares a "positive" story, while Josh presents a "negative" tale concerning Millennials and their wage disparity, and Katy concludes with an "intriguing" piece about grocery bagging.The fun continues on our social media pages!Jeremy, Katy & Josh Facebook: CLICK HERE Jeremy, Katy & Josh Instagram: CLICK HERE

Global equities have had a good run since the Liberation Day jitters in April, with Japan and South Africa being standout markets. Chris Holdsworth, Chief Investment Strategist, Investec Wealth & Investment International says markets are awaiting the next moves, but clouding the outlook has been the US government shutdown, which meant that the September jobs numbers could not be released. September inflation data could also be delayed. Meanwhile South Africa's PMI numbers are improving, which should have a positive Impact on GDP. Investec Focus Radio SA

In this episode, Ricardo announces the release of the second global research on AI in project management, co-authored with Antonio Nieto-Rodriguez. Compared to their first study two years ago, AI has moved from experimentation to mainstream adoption. The 2025 report, based on insights from 870 professionals in 97 countries, shows that AI familiarity has doubled, and over two-thirds now use AI tools daily. Nearly half of organizations report cost reductions, and 25% achieved over $250,000 ROI. The greatest benefits appear in scaling, risk management, and forecasting. Barriers have shifted from technical to cultural and ethical. By 2028, 42% of organizations expect AI copilots to manage most projects. AI won't replace humans but enhance leadership and decision-making. Download the free report at pmairevolution.com. Listen to the podcast to learn more!

Neste episódio, Ricardo anuncia o lançamento da segunda pesquisa global sobre IA em gerenciamento de projetos, em coautoria com Antonio Nieto-Rodriguez. Em comparação com o primeiro estudo, realizado há dois anos, a IA passou da experimentação para a adoção generalizada. O relatório de 2025, baseado em insights de 870 profissionais em 97 países, mostra que a familiaridade com IA dobrou e mais de dois terços agora usam ferramentas de IA diariamente. Quase metade das organizações relatam reduções de custos e 25% alcançaram um ROI superior a US$ 250.000. Os maiores benefícios aparecem em escala, gerenciamento de riscos e previsão. As barreiras deixaram de ser técnicas e passaram a ser culturais e éticas. Até 2028, 42% das organizações esperam que copilotos de IA gerenciem a maioria dos projetos. A IA não substituirá os humanos, mas aprimorará a liderança e a tomada de decisões. Baixe o relatório gratuito em pmairevolution.com. Escute o podcast para saber mais!

European bourses and US futures are firmer into a quieter than initially scheduled session on account of the gov't shutdown, ES +0.3%.DXY underpressure, down to a 97.70 trough. JPY is the relative laggard after remarks from Ueda, NZD continues to climb.USTs await ISM Services, Bunds unreactive to PMI revisions and remarks from Lagarde re. Knot. Gilts are attentive to the OBR's first forecast round.Crude saw fleeting upside on Hamas asking for more time to consult on Trump's Gaza plan, XAU pauses for breath.Looking ahead, US Final Composite PMIs (Sep), ISM Services (Sep), ECB's Schnabel, Fed's Williams, Jefferson, BoE's Bailey.Due to the US government shutdown, the following data will not be released: US NFP (Sep).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

楓葉債（Maple Bonds）熱潮指外國企業在加拿大發行、以加元計價的債券。過去一直是邊緣市場，近來卻成為跨國企業，尤其是美國企業的熱門融資門路。2025 年首九個月，楓葉債的發行規模已達 163 億加元，不僅超越去年全年，更刷新了歷史紀錄。楓葉債為何突然爆紅？首先，加拿大央行（BoC）比美國更快、更早減息。9 月 17 日，央行基準利率已降至 2.5%，而聯儲仍維持較高水平。息差直接改變了跨國企業的計算——美國公司若在加拿大發債，再透過利率掉期將加元資金換回美元，總成本比在本土融資還便宜。其次，2025年1月1日起，楓葉債正式納入 FTSE Canada Universe Bond Index。這意味著加拿大本土基金若要緊貼基準，必須買入楓葉債。被動資金的機械需求，使得發行市場瞬間「由冷轉熱」。另外，對加拿大機構投資者而言，高質而穩定回報的資產選擇不多，楓葉債亦應運而生。例如今年 6 月，美國的 NextEra Energy 一舉發行 20 億加元楓葉債，成為加拿大史上最大規模的企業楓葉債之一。對加拿大投資人來說，這是世界級信用的加元資產；對 NextEra 而言，則是一次划算的融資操作。另一個例子是 花旗銀行的回歸。沉寂多年後，花旗選擇再度進入加元市場，這不僅是套利，更是戰略性舉動，傳遞出 Maple Bonds 已經具備深度與流動性，不再是臨時性的「副線市場」。但在楓葉債熱潮的背後，整體經濟環境其實是相對惡劣；加拿大央行之所以減息，其中一個原因是經濟數據惡化：就業市場疲弱：7 月與 8 月共流失 10 萬個職位，失業率升至 7.1%。出口暴跌：第二季出口重挫 27%，貿易戰成為主要元兇。PMI 低迷：已連續八個月低於榮枯線，9 月更跌至 47.7。在這樣的背景下，維持低利率幾乎是唯一選擇，與此同時加元匯率亦受壓，加元兌美元徘徊在 1 美元兌 1.39 加元的四個月低位。對美國的債券發行人來說，弱加元帶來更划算的融資與更穩定的掉期成本；對加拿大當局而言，低匯率維持了出口競爭力，甚至吸引美國邊境消費者來加購物。更重要是，加拿大極高槓桿的地產按揭市場對息口極為敏感。所以在可見將來，加拿大有很大機會長期地維持低息和弱加元的情況。但低假以時日，弱加元的寬鬆政策，只會進一步加劇「收入停滯、生活成本上升」的滯脹格局。 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit leesimon.substack.com/subscribe

Play audio-only episode | Play video episode | Play on YouTube | Play on Spotify Click above to play either the audio-only episode or video episode in a new window. Episode Summary When stakeholders doubt the schedule, they doubt the leader behind it. Project schedules are more than a collection of dates... they are instruments of leadership that can either inspire confidence or create skepticism. In this conversation, Michael Pink, CEO of SmartPM Technologies, joins Cornelius Fichtner to explain how schedule visibility enables project leaders to see risks early, prevent overruns, and lead with credibility. Drawing from his experience in analyzing thousands of construction projects, Michael explains how transparent and data-driven schedules elevate leadership trust, keep teams aligned, and ensure projects stay on course.

PMI and ISM manufacturing showed a mixed picture, according to Kevin Green. New orders showed the biggest red mark on the report. Kevin explains why investors want to watch the numbers as Europe experiences similar weaknesses. He also takes a closer look at the ADP employment report and the "divergence" to watch between ADP and BLS.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

中國製造業面臨嚴峻挑戰 。最新的9月份採購經理指數（PMI）繼續低於50（本月為49.8），這已是連續第六個月處於榮枯線以下，反映製造業處於收縮狀態 。中國製造業和整體經濟承壓的主要原因包括：* 內需不足：中國自身無法單靠內需來消化產能 。* 去槓桿化未解：房地產泡沫爆破已四年多至五年，但去槓桿化情況仍未解決，導致內需無法提振 。* 貿易戰的衝擊 ，出口難以增加，且多國（如美國）開始有貿易防範心態 。發改委公布推出5000億人民幣政策性金融措施，旨在促進幫助地方在基建和金融服務業上「重新啟動機器」。中央政府明顯不願將地方債務負擔轉移到中央，所以資金的性質是貸款，而不是中央撥款給地方派發財政補貼。雖然發改委稱5000億人民幣政策性金融措施屬於「準財政措施」，但由於還錢的主體是地方政府而非官員個人，且權位變動不確定，地方官員傾向於看重眼前的利益，而非長遠的問責性，這使得5000億的「借款」設定難以有效制約貪腐和資金濫用，亦難免造成以下問題：* 貪腐風險：地方官員可能批專案向中央借錢，承辦商將錢放入口袋，官員收受回佣，最終地方政府還不了錢，官員卻可能已轉移資產至海外 。* 重複失敗經驗：這屬於當局最擅長但效用有限的「堆砌鋼筋水泥」的凱因斯政策，如2009年「四萬億」措施的長期效果不佳 。中國社會結構性與長期性挑戰除了經濟數據，中國經濟還面臨什麼長期結構性問題？* 城鄉差距巨大：一、二線城市先富起來，但仍有十億八億人處於相對低收入、低教育水平，在當前世界環境中缺乏競爭力 。* 中低收入群體資產被鎖死：房地產泡沫破裂後，許多在中低線城市購房的中低收入群體資產被鎖在其中 。* 「低端人口」問題：政府必須限制農村貧窮人口自由流動，因大規模流竄會被視為社會動亂的潛在因素 。* 年輕人就業艱難：大學畢業生就業情況也很有問題，社會流動性大減。* Q7：中央與地方的矛盾對經濟政策執行有何影響？中國根本困境在於社會存在嚴重的扭曲，加上中央與地方的矛盾，使得中國一直以來無法突破「內捲」的問題。 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit leesimon.substack.com/subscribe

In this episode of the RiskReversal Podcast, Guy Adami and Liz Thomas of SoFi discuss recent sports highlights, including the Milwaukee Brewers' and Green Bay Packers' performances. They delve into the potential market impact of a looming government shutdown, focusing on labor market data and how the Fed's moves might influence economic trends. The conversation also touches on key data metrics like jolts and PMI, along with the implications of AI on the market. Additionally, they explore international markets, specifically China's tech sector, and the rising gold market. They conclude with observations on market volatility and possible end-of-year trends. —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Premium This is a preview of our premium episode. Full access is available only to premium subscribers. Click here and learn about the Premium Podcast to access this interview and transcript... Play audio-only preview episode | Play video preview episode | Play on YouTube | Play on Spotify Click above to play either the audio-only preview episode or video preview episode in a new window. Episode Summary Leadership comes in many styles, and the podium of a conductor offers striking lessons for project managers. In this conversation, Itay Talgam brings his wealth of experience as a classical conductor to shed light on what leadership means when you are tasked with guiding a group of experts toward a shared goal. Using vivid stories about Riccardo Muti, Leonard Bernstein, and other legendary maestros, he shows how leadership style is not fixed but evolves with culture, context, and experience. Just as conductors must adapt to each orchestra, project leaders must adapt to the unique culture of their teams and organizations. The discussion emphasizes how authority and autonomy can coexist, why culture and leadership are inseparable, and how leaders can expand their own style without losing authenticity.

Play audio-only episode | Play video episode | Play on YouTube | Play on Spotify Click above to play either the audio-only episode or video episode in a new window. Episode Summary Managing more than one project at a time can feel like a constant balancing act, and for many project managers it is part of everyday life. In this conversation, Elizabeth Harrin joins Cornelius Fichtner to discuss the updated second edition of Managing Multiple Projects and the changes it brings. The discussion highlights how Chapter 7 has been reframed as "Practices," offering practical approaches for building sustainable success. Listeners will gain clear advice on where to start, how to set boundaries, and which methods can lighten the workload without sacrificing quality.

Our strategists Michelle Weaver and Adam Jonas join analyst Christopher Snyder to discuss the most important themes that emerged from the Morgan Stanley Annual Industrials Conference in Laguna Beach.Michelle Weaver: Welcome to Thoughts on the Market. I'm Michelle Weaver, Morgan Stanley's U.S. Thematic Strategist.Christopher Snyder: I'm Chris Snyder, Morgan Stanley's U.S. Multi-Industry Analyst. Adam Jonas: And I'm Adam Jonas, Morgan Stanley's Embodied AI Strategist.Michelle Weaver: We recently concluded Morgan Stanley's annual industrials conference in Laguna Beach, California, and wanted to share some of the biggest takeaways.It's Tuesday, September 16th at 10am in New York.I want to set the stage for our conversation. The overall tone at the conference was fairly similar to last year with many companies waiting for a broader pickup. And I'd flag three different themes that really emerged from the conference. So first, AI. AI is incredibly important. It appeared in the vast majority of fireside conversations. And companies were talking about AI from both the adopter and the enabler angle. Second theme on the macro, overall companies remain in search of a reacceleration. They pointed to consistently expansionary PMIs or a PMI above 50, a more favorable interest rate environment and greater clarity on tariffs as the key macro conditions for renewed momentum. And then the last thing that came up repeatedly was how are companies going to react to tariffs? And I would say companies overall were fairly constructive on their ability to mitigate the margin impact of tariffs with many talking about both leveraging pricing power and supply chain shifts to offset those impacts. So, Chris, considering all this, the wait for an inflection came up across a number of companies. What were some of your key takeaways on multis, on the macro front? Christopher Snyder: The commentary was stable to modestly improving, and that was really consistent across all of these companies. There are, you know, specific verticals where things are getting better. I would call out data center as one. Non-res construction, as another one, implant manufacturing as one. And there were certain categories where we are seeing deterioration – residential HVAC, energy markets, and agriculture.But we came away more constructive on the cycle because things are stable, if not modestly improving into a rate cut cycle. The concern going in was that we would hear about deteriorating trends and a rate cut would be needed just to stabilize the market. So, we do think that this backdrop is supportive for better industrial growth into 2026.We have been positive on the project or CapEx side of the house. It feels like strength there is improving. We've been more cautious on the short cycle production side of the house. But we are starting to see signs of rate of change. So, when we look into [20]26 and [20]27, we think U.S. industrials are poised for decade high growth. Michelle Weaver: You've had a thesis for a while now that U.S. reshoring is going to be incredibly important and that it's a $10 trillion opportunity. Can you unpack that number? What are some recent data points supporting that and what did you learn at the conference? Christopher Snyder: Some of the recent data points that support this view is U.S. manufacturing construction starts are up 3x post Liberation Day. So, we're seeing companies invest. This is also coming through in commercial industrial lending data, which continues to push higher almost every week and is currently at now record high levels. So, there's a lot of reasons for companies not to invest right now. There's a lot of uncertainty around policy. But seeing that willingness to invest through all of the uncertainty is a big positive because as that uncertainty lifts, we think more projects will come off the sidelines and be unlocked. So, we see positive rate of change on that. What I think is often lost in the reassuring conversation is that this has been happening for the last five years. The U.S. lost share of global CapEx from 2000 when China entered the World Trade Organization almost every year till 2019 when Trump implemented his first wave of tariffs. Since then, the U.S. has taken about 300 basis points of global CapEx share over the last five years, and that's a lot on a $30 trillion CapEx base. So, I think the debate here should be: Can this continue? And when I look at Trump policy, both the tariffs making imports more expensive, but also the incentives lowering the cost of domestic production – we do think these trends are stable. And I always want to stress that this is a game of increments. It's not that the U.S. is going to get every factory. But we simply believe the U.S. is better positioned to get the incremental factory over the next 20 years relative to the prior 20. And the best point is that the baseline growth here is effectively zero. Michelle Weaver: And how does power play into the reshoring story? AI and data centers are generating huge demand for power that well outstrip supply. Is there a risk that companies that want to reshore are not able to do so because of the power constraints?Christopher Snyder: It's a great question. I think it's part of the reason that this is moving more slowly. The companies that sell this power equipment tend to prioritize the data center customers given their scale in magnitude of buying. But ultimately, we think this is coming and it's a big opportunity for U.S. power to extend the upcycle.Manufacturing accounts for 26 percent of the electricity in the country. Data center accounts for about 5 percent. So, if the industrial economy returns to growth, there will be a huge pull on the grid; and I view it as a competitive advantage. If you think about the future of U.S. manufacturing, we're simply taking labor out and replacing it with electricity. That is a phenomenal trade off for the U.S. And a not as positive trade off for a lot of low-cost regions who essentially export labor to the world. I'm sure Adam will have more to say about that. Michelle Weaver: And Adam, I want to bring robotics and humanoid specifically into this conversation as the U.S.' technological edge is a big part of the reshoring story. So how do humanoids fit into reshoring? How much would they cost to use and how could they make American manufacturing more attractive? Adam Jonas: Humanoid robots – we're talking age agentic robots that make decisions from themselves autonomously due to the dual purpose in the military. You know, dual purpose aspect of it makes it absolutely necessary to onshore the technologies.At the same time, humanoid robots actually make it possible to onshore those technologies. Meaning you need; we're not going to be able to replicate manufacturing and onshore manufacturing the way it's currently done in China with their environmental practices and their labor – availability of affordable cheap human labor.Autonomous robots are both the cause of onshoring. And the effect of onshoring at the same time, and it's going to transform every industry. The question isn't so much as which industry will autonomous robots, including humanoids impact? It's what will it not.And we have not yet been able to find anything that it would. When you think about cost to use – we think by 2040 we get to a point where to Chris's point, the marginal cost of work will be some factor of electricity, energy, and some depreciation of that physical plant, or the physical robot itself. And we come up with a, a range of scenarios where centered on around $5 per hour. If that can replace two human workers at $25 an hour, that can NPV to around $200,000 of NPV per humanoid. That's discounting back 15 years from 2040.Michelle, there's 160 million people in the U.S. labor market, so if you just substituted 1 percent of that or 1.6 million people out of the U.S. Labor pool. 1.6 million times $200,000 NPV; that's $320 billion of value, which is worth, well, quite a lot. Quite a lot of money to a lot of companies that are working on this. So, when we get asked, what are we watching, well, in terms of the bleeding edge of the robot revolution, we're watching the Sino-U.S. competition. And I prefer to call it competition. And we're also watching the terra cap companies, the Mag 7 type companies that are quite suddenly and recently and very, very significantly going after physical AI and robotics talent. And increasingly even manufacturing talent. So again, to circle back to Chris's point, if you want evidence of reshoring and manufacturing and advanced manufacturing in this country, look at some of these TMT and tech and AI companies in California. And look at, go on their hiring website and watch all the manufacturing and robotics people that they're trying to hire; and pay a lot of money to do so. And that might be an interesting indicator of where we're going.Michelle Weaver: I want to dig in a little bit more there. We're seeing a lot of the cutting-edge tech coming out of China. Is the U.S. going to be able to catch up?Adam Jonas: Uh, I don't know. I don't know. But I would say what's our alternative. We either catch up enough to compete or we're up for grabs. OK?I would say from our reading and working closely with our team in China, that in many aspects of supply chain, manufacturing, physical AI, China is ahead. And with the passage of time, they are increasingly ahead. We estimate, and we can't be precise here, that China's lead on the U.S. would not only last three to five years, but might even widen three to five years from now. May even widen at an accelerating rate three to five years from now.And so, it brings into play is what kind of environment and what kind of regulatory, and policy decisions we made to help kind of level the playing field and encourage the right kind of manufacturing. We don't want to encourage trailing edge, Victorian era manufacturing in the U.S. We want to encourage, you know, to skate to where the puck is going technology that can help improve our world and create a sustainable abundance rather than an unsustainable one. And so, we're watching China very, very closely. It makes us a little bit; makes me a little bit kind of nervous when we – if we see the government put the thumb on the scale too much.But it's invariably going to happen. You're going to have increased involvement of whichever administration it is in order to kind of set policies that can encourage innovation, education of our young people, repurposing of labor, you know. All these people making machines in this country now. They might get, there may be a displacement over a number of years, if not a generation.But we need those human bodies to do other things in this economy as well. So, we; I don't want to give the impression at all in our scenarios that we don't need people anymore. Michelle Weaver: What are the opportunities and the risks that you see for investors as robotics converges with this broader U.S. manufacturing story? Adam Jonas: Well, Michelle, we see both opportunities and risks. There are the opportunities that you can measure in terms of what portion of global GDP of [$]115 trillion could you look at. I mean, labor alone is $40 trillion.And if you really make humanoid that can do the work of two workers, guess what? You're not going to stop at [$]40 trillion. You're going to go beyond that. You might go multiple beyond that. Talking about the world before AI, robotics and humanoid is like talking about the world before electricity. Or talking about business before the internet. We don't think we're exaggerating, but the proof will be in the capital formation. And that's where we hope we can be of assistance to our clients working together on a variety of investment ideas. But the risks will come and it is our professional responsibility, if not our moral responsibility, to work with our partners across research to talk about those risks. Michelle, if we have labor displacement, go too quickly, there's serious problems. And if you don't, if you don't believe me, go look at, look at you know, the French Revolution or the Industrial Revolution, or Age of Enlightenments. Ages of scientific enlightenment frequently cohabitate times of great social and political turmoil as well. And so, we think that these risks must be seen in parallel if we want to bring forth technologies that can make us more human rather than less human. I'm sorry if I'm coming across as a little preachy, but if you studied robots and labor all day long, it does have that effect on you. So, Michelle, how do you see innovation priorities changing for industrials and investors in this environment?Michelle Weaver: I think it's huge as we're seeing AI and technology broadly diffuse across different segments of the market, it's only becoming more important. About two-thirds of companies at the conference mentioned AI in some way, shape, or form. We know that from transcripts. And we're seeing them continue to integrate AI into their businesses. They're trying to go beyond what we've just seen at the initial edge. So, for example, if I think about what was going on within AI adoption a couple years ago, it was largely adding a chat bot to your website that's then able to handle a lot of customer service inquiries. Maybe you could reduce the labor there a little bit. Now we're starting to see a lot more business specific use cases. So, for example, with an airline, an airline company is using AI to most optimally gate different planes as they're landing to try and reduce connection times. They know which staff needs to go to another flight to connect, which passengers need to move to another flight. They're able to do that much more efficiently. You're seeing a lot on AI being adopted within manufacturing to make manufacturing processes a lot more seamless. So, I think innovation is only going to continue to become more important to not only industrials, but broadly the entire market as well.Clearly the industry is being shaped by adaptability, collaboration, and a focus on innovation. So, Chris, Adam, thank you both for taking the time to talk. Adam Jonas: Always a pleasure. Michelle.Christopher Snyder: Thank you for having us on. Michelle Weaver: And to our listeners, thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen to the show and share the podcast with a friend or colleague today.