YourMoney June 2013
-
Upload
emedia-interactive-limited -
Category
Documents
-
view
217 -
download
1
description
Transcript of YourMoney June 2013
[ i n s i g h t s ]
[t e c h 3]
[ C O N T E N T S ]6 toon into kingstoon The first event of its kind to ever hit Jamaica Kingstoon is a two day animation conference and festival being held at the Mona Visitors Lodge and Conference Centre
6 On your marks get set goJune 30 marks the date of the CARICOM Youth Ambassadorrsquos (CYA) Twitter Relay A regional initiative to get the Caribbeanrsquos youth talking about issues that are relevant to them and looking at ways in which these can be solved
[ N e w s ]
[ c o v e r s t o ry ]
7 Web Entrepreneurship BootcampThe Scotia Bank Chair in Entrepreneurship and Development the Sapna Initiative in the School of Computing and Information Technology at Utech Internet Income Jamaica and the Institute of Law and Economics have come together to hold a series of Web Entrepreneurship Bootcamps (WEB) promote renewable energy energy efficiency and energy access in rural areas
9 g e t u p s ta rt u pJulian Robinson isnrsquot your average politrician ndash tall dark handsome and brimming with promises As State Minister in the Ministry of Science amp Technology Energy amp Mining (MSTEM) Member of Parliament and Deputy General for the Peoplersquos National Party his plate is full and his ambitions grandiose
12 google sony and apple
11 the ldquosay on payrdquo debate
[ d o g o o d ]13 windows to the world
[ e d i t o r rsquo s n o t e ]
Itrsquos tech time
Itrsquos 2013 and technology is more accessible than ever almost anything you want to know you can Google it This issue of YourMoney
looks at the tech scene in Jamaica and what wersquore doing to leverage it
In Business Lounge we sit with Julian Robinson and hear his take on where Jamaica has the potential to go and grow with ICTs Not your average politician this State Minister is up to date and in the know about technology and hersquos looking to leverage his know how and bring Jamaica to the 21st century and beyond
Starting out by targeting youngsters so that they grow and learn with the technologies around them is one way to go and the One Laptop Per Child initiative does exactly that The Jamaican arm of the project has been in operation since 2008 and has distributed more than 100 laptops
In an ideal world all our problems would be solved overnight but reality is far from ideal but with a little bit of patience and a lot of perseverance the goals we seek are achievable
[ s ta rt u p s ]
18 habits thatrsquoll help you look on the bright side
[ s ta rt u p s ]
[ 1 o t h i n g s ]
14 Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them
[ a p p t i t u d e ]16 3 apps for techies
June 30 marks the date of the CARICOM Youth Ambassadorrsquos (CYA) Twitter Relay A regional initiative to get the Caribbeanrsquos youth talking about issues that are relevant to them and
looking at ways in which these can be solved The relay will begin with Angullia and Antigua amp Barbuda leading the discussion and then the baton will be passed on to The Bahamas and Barbados The day will continue in this fashion ending with Surimane and Trinidad amp Toago
The CYA celebrates its 20th anniversary this year while CARICOM celebrates its 40th As such the Caribbean Youth Ambassador Programme will be hosting several events of which this is a part
Toon in To KingsToon
on your marKs geT seT go
read more
TThe first event of its kind to ever hit Jamaica Kingstoon was a two day animation conference and festival held at the Mona Visitors Lodge and Conference Centre The animation
industry generated more than US$100 billion last year and Jamaica is looking to become the next big thing in this burgeoning industry
The festivalrsquos aims to highlight the prodigious talent that can be found in Jamaica and to expose them to the rest of the world The interactive dialogue that took place will also help to identify the potential setbacks in developing this industry to its fullest and provide solutions for them The festival was put on by the Government of Jamaica in collaboration with the World Bank the Government of Canada and Toon Boom Inc
read more
6
wwwezinesreadercom Your Money eZine
[news]
The Scotia Bank Chair in Entrepreneurship and Development the Sapna Initiative in the School of Computing and Information Technology at Utech Internet Income Jamaica
and the Institute of Law and Economics have come together to hold a series of Web Entrepreneurship Bootcamps (WEB) Participants
will learn about using social media in business how to monetize blogging website development freelancing among other things The
WEBs will be held over the period of June 2013-May 2014
With the IMF 2013 arrangement local entrepreneurial development is a key goal of the nation to spur on economic development Because of the nature of technology and the speed at which
technologies evolve web entrepreneurship is the next frontier for entrepreneurs to tackle
wwwezinesreadercom Your Money eZine
7
julian Robinson isnrsquot your average politician ndash tall dark handsome and brimming with promises As State Minister in the Ministry of
Science amp Technology Energy amp Mining (MSTEM) Member of Parliament and Deputy General for the Peoplersquos National Party his plate is full and his ambitions grandiose
If wersquore to go by the speed with which Your Moneyrsquos emails to were answered ease of access via phone and social media the regular updating of his website and the fact that he turned off an undoubtedly scintillating match between West Indies and India to facilitate this interview --- we can cursorily say hersquos a new age politician and wersquore hopeful sorta
Perched like the star of David in Bethlehemrsquos night sky is an ICT Road Map of action-oriented initiatives stretching into March 2014 which he will be implementing and by which his tenure will ultimately be judged Just so you know (and this is the point where you make notes) they span four major pillars which includes strengthening of the ICT governance and administrative framework building out Jamaicarsquos ICT infrastructure solidifying the capacity of public institutions and stimulating new business opportunities innovation and entrepreneurship in
our ICT sector ICTs have become engines for social and economic growth globally and
the vision for Jamaica is to utilise ICTs to attain developed country status
by 2030
Get Up Start Up
business lounge
wwwezinesreadercom Your Money eZine
9
five questions with minister robinson
Enchanted by the green green grass that is the flip side of $1021 what reason does the impressive talent and creativity of Jamaicans as acknowledged by foreign investors have to stay Be still and know that according to the Minister the primary goal of our Administration is the facilitation of an environment for the harnessing and growth of our talent How will this be achieved Via systems to fund creative ideas and start-up businesses as well as making available mentorship and business support geared towards educating entrepreneurs
The Kingstoon Animation Festival is one notable project facilitating the exposure of local talent to a global industry with an output value of US$2228 billion On the horizon too is Start Up Jamaica for which a physical space will be erected or determined and play host to local early stage innovators and entrepreneurs who are utilising ICTs to create their businesses SrsquoUp Jamaica (we just came up with that catchy right) is envisioned as a public-private partnership that would see entrepreneurs networking and participating in activities within communities whilst being provided with coaching and mentoring The raft of National ICT Strategy Policy amp Legislation delves into the ambitious portfolio of initiatives and deliverables of his Ministry
what do you want to be when you grow upI wanted to play cricket for the West Indies cricket team I even made the national under-19 junior squad growing up
whatrsquos on your iPodI donrsquot own an iPod I am not much of a music fan I only listen to soothing music at nights before bed
Do you have a daily routineI am an early morning person In the mornings after I wake up I have devotion and read the Daily Bread Then I exercise which normally includes pilates running and riding
what are your weekends likeMost of my weekends are working weekends --- government meetings launches corporate lunches or tending to other ministry affairs My ideal weekend would involve rest Irsquod like to stay at home or enjoy the scenery while riding on a Sunday and chill by a river
Apple Android or CrackberryI have all three and thatrsquos the problem with being so in tune with digital and new media technology However I prefer the iPhone
ICTs have beCome enGIneS for SoCIal and eConomIC GrowTh Globally and The vISIon for JamaICa IS To UTIlISe ICTS To aTTaIn developed CoUnTry STaTUS by 2030
10
wwwezinesreadercom Your Money eZine
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
[ e d i t o r rsquo s n o t e ]
Itrsquos tech time
Itrsquos 2013 and technology is more accessible than ever almost anything you want to know you can Google it This issue of YourMoney
looks at the tech scene in Jamaica and what wersquore doing to leverage it
In Business Lounge we sit with Julian Robinson and hear his take on where Jamaica has the potential to go and grow with ICTs Not your average politician this State Minister is up to date and in the know about technology and hersquos looking to leverage his know how and bring Jamaica to the 21st century and beyond
Starting out by targeting youngsters so that they grow and learn with the technologies around them is one way to go and the One Laptop Per Child initiative does exactly that The Jamaican arm of the project has been in operation since 2008 and has distributed more than 100 laptops
In an ideal world all our problems would be solved overnight but reality is far from ideal but with a little bit of patience and a lot of perseverance the goals we seek are achievable
[ s ta rt u p s ]
18 habits thatrsquoll help you look on the bright side
[ s ta rt u p s ]
[ 1 o t h i n g s ]
14 Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them
[ a p p t i t u d e ]16 3 apps for techies
June 30 marks the date of the CARICOM Youth Ambassadorrsquos (CYA) Twitter Relay A regional initiative to get the Caribbeanrsquos youth talking about issues that are relevant to them and
looking at ways in which these can be solved The relay will begin with Angullia and Antigua amp Barbuda leading the discussion and then the baton will be passed on to The Bahamas and Barbados The day will continue in this fashion ending with Surimane and Trinidad amp Toago
The CYA celebrates its 20th anniversary this year while CARICOM celebrates its 40th As such the Caribbean Youth Ambassador Programme will be hosting several events of which this is a part
Toon in To KingsToon
on your marKs geT seT go
read more
TThe first event of its kind to ever hit Jamaica Kingstoon was a two day animation conference and festival held at the Mona Visitors Lodge and Conference Centre The animation
industry generated more than US$100 billion last year and Jamaica is looking to become the next big thing in this burgeoning industry
The festivalrsquos aims to highlight the prodigious talent that can be found in Jamaica and to expose them to the rest of the world The interactive dialogue that took place will also help to identify the potential setbacks in developing this industry to its fullest and provide solutions for them The festival was put on by the Government of Jamaica in collaboration with the World Bank the Government of Canada and Toon Boom Inc
read more
6
wwwezinesreadercom Your Money eZine
[news]
The Scotia Bank Chair in Entrepreneurship and Development the Sapna Initiative in the School of Computing and Information Technology at Utech Internet Income Jamaica
and the Institute of Law and Economics have come together to hold a series of Web Entrepreneurship Bootcamps (WEB) Participants
will learn about using social media in business how to monetize blogging website development freelancing among other things The
WEBs will be held over the period of June 2013-May 2014
With the IMF 2013 arrangement local entrepreneurial development is a key goal of the nation to spur on economic development Because of the nature of technology and the speed at which
technologies evolve web entrepreneurship is the next frontier for entrepreneurs to tackle
wwwezinesreadercom Your Money eZine
7
julian Robinson isnrsquot your average politician ndash tall dark handsome and brimming with promises As State Minister in the Ministry of
Science amp Technology Energy amp Mining (MSTEM) Member of Parliament and Deputy General for the Peoplersquos National Party his plate is full and his ambitions grandiose
If wersquore to go by the speed with which Your Moneyrsquos emails to were answered ease of access via phone and social media the regular updating of his website and the fact that he turned off an undoubtedly scintillating match between West Indies and India to facilitate this interview --- we can cursorily say hersquos a new age politician and wersquore hopeful sorta
Perched like the star of David in Bethlehemrsquos night sky is an ICT Road Map of action-oriented initiatives stretching into March 2014 which he will be implementing and by which his tenure will ultimately be judged Just so you know (and this is the point where you make notes) they span four major pillars which includes strengthening of the ICT governance and administrative framework building out Jamaicarsquos ICT infrastructure solidifying the capacity of public institutions and stimulating new business opportunities innovation and entrepreneurship in
our ICT sector ICTs have become engines for social and economic growth globally and
the vision for Jamaica is to utilise ICTs to attain developed country status
by 2030
Get Up Start Up
business lounge
wwwezinesreadercom Your Money eZine
9
five questions with minister robinson
Enchanted by the green green grass that is the flip side of $1021 what reason does the impressive talent and creativity of Jamaicans as acknowledged by foreign investors have to stay Be still and know that according to the Minister the primary goal of our Administration is the facilitation of an environment for the harnessing and growth of our talent How will this be achieved Via systems to fund creative ideas and start-up businesses as well as making available mentorship and business support geared towards educating entrepreneurs
The Kingstoon Animation Festival is one notable project facilitating the exposure of local talent to a global industry with an output value of US$2228 billion On the horizon too is Start Up Jamaica for which a physical space will be erected or determined and play host to local early stage innovators and entrepreneurs who are utilising ICTs to create their businesses SrsquoUp Jamaica (we just came up with that catchy right) is envisioned as a public-private partnership that would see entrepreneurs networking and participating in activities within communities whilst being provided with coaching and mentoring The raft of National ICT Strategy Policy amp Legislation delves into the ambitious portfolio of initiatives and deliverables of his Ministry
what do you want to be when you grow upI wanted to play cricket for the West Indies cricket team I even made the national under-19 junior squad growing up
whatrsquos on your iPodI donrsquot own an iPod I am not much of a music fan I only listen to soothing music at nights before bed
Do you have a daily routineI am an early morning person In the mornings after I wake up I have devotion and read the Daily Bread Then I exercise which normally includes pilates running and riding
what are your weekends likeMost of my weekends are working weekends --- government meetings launches corporate lunches or tending to other ministry affairs My ideal weekend would involve rest Irsquod like to stay at home or enjoy the scenery while riding on a Sunday and chill by a river
Apple Android or CrackberryI have all three and thatrsquos the problem with being so in tune with digital and new media technology However I prefer the iPhone
ICTs have beCome enGIneS for SoCIal and eConomIC GrowTh Globally and The vISIon for JamaICa IS To UTIlISe ICTS To aTTaIn developed CoUnTry STaTUS by 2030
10
wwwezinesreadercom Your Money eZine
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
June 30 marks the date of the CARICOM Youth Ambassadorrsquos (CYA) Twitter Relay A regional initiative to get the Caribbeanrsquos youth talking about issues that are relevant to them and
looking at ways in which these can be solved The relay will begin with Angullia and Antigua amp Barbuda leading the discussion and then the baton will be passed on to The Bahamas and Barbados The day will continue in this fashion ending with Surimane and Trinidad amp Toago
The CYA celebrates its 20th anniversary this year while CARICOM celebrates its 40th As such the Caribbean Youth Ambassador Programme will be hosting several events of which this is a part
Toon in To KingsToon
on your marKs geT seT go
read more
TThe first event of its kind to ever hit Jamaica Kingstoon was a two day animation conference and festival held at the Mona Visitors Lodge and Conference Centre The animation
industry generated more than US$100 billion last year and Jamaica is looking to become the next big thing in this burgeoning industry
The festivalrsquos aims to highlight the prodigious talent that can be found in Jamaica and to expose them to the rest of the world The interactive dialogue that took place will also help to identify the potential setbacks in developing this industry to its fullest and provide solutions for them The festival was put on by the Government of Jamaica in collaboration with the World Bank the Government of Canada and Toon Boom Inc
read more
6
wwwezinesreadercom Your Money eZine
[news]
The Scotia Bank Chair in Entrepreneurship and Development the Sapna Initiative in the School of Computing and Information Technology at Utech Internet Income Jamaica
and the Institute of Law and Economics have come together to hold a series of Web Entrepreneurship Bootcamps (WEB) Participants
will learn about using social media in business how to monetize blogging website development freelancing among other things The
WEBs will be held over the period of June 2013-May 2014
With the IMF 2013 arrangement local entrepreneurial development is a key goal of the nation to spur on economic development Because of the nature of technology and the speed at which
technologies evolve web entrepreneurship is the next frontier for entrepreneurs to tackle
wwwezinesreadercom Your Money eZine
7
julian Robinson isnrsquot your average politician ndash tall dark handsome and brimming with promises As State Minister in the Ministry of
Science amp Technology Energy amp Mining (MSTEM) Member of Parliament and Deputy General for the Peoplersquos National Party his plate is full and his ambitions grandiose
If wersquore to go by the speed with which Your Moneyrsquos emails to were answered ease of access via phone and social media the regular updating of his website and the fact that he turned off an undoubtedly scintillating match between West Indies and India to facilitate this interview --- we can cursorily say hersquos a new age politician and wersquore hopeful sorta
Perched like the star of David in Bethlehemrsquos night sky is an ICT Road Map of action-oriented initiatives stretching into March 2014 which he will be implementing and by which his tenure will ultimately be judged Just so you know (and this is the point where you make notes) they span four major pillars which includes strengthening of the ICT governance and administrative framework building out Jamaicarsquos ICT infrastructure solidifying the capacity of public institutions and stimulating new business opportunities innovation and entrepreneurship in
our ICT sector ICTs have become engines for social and economic growth globally and
the vision for Jamaica is to utilise ICTs to attain developed country status
by 2030
Get Up Start Up
business lounge
wwwezinesreadercom Your Money eZine
9
five questions with minister robinson
Enchanted by the green green grass that is the flip side of $1021 what reason does the impressive talent and creativity of Jamaicans as acknowledged by foreign investors have to stay Be still and know that according to the Minister the primary goal of our Administration is the facilitation of an environment for the harnessing and growth of our talent How will this be achieved Via systems to fund creative ideas and start-up businesses as well as making available mentorship and business support geared towards educating entrepreneurs
The Kingstoon Animation Festival is one notable project facilitating the exposure of local talent to a global industry with an output value of US$2228 billion On the horizon too is Start Up Jamaica for which a physical space will be erected or determined and play host to local early stage innovators and entrepreneurs who are utilising ICTs to create their businesses SrsquoUp Jamaica (we just came up with that catchy right) is envisioned as a public-private partnership that would see entrepreneurs networking and participating in activities within communities whilst being provided with coaching and mentoring The raft of National ICT Strategy Policy amp Legislation delves into the ambitious portfolio of initiatives and deliverables of his Ministry
what do you want to be when you grow upI wanted to play cricket for the West Indies cricket team I even made the national under-19 junior squad growing up
whatrsquos on your iPodI donrsquot own an iPod I am not much of a music fan I only listen to soothing music at nights before bed
Do you have a daily routineI am an early morning person In the mornings after I wake up I have devotion and read the Daily Bread Then I exercise which normally includes pilates running and riding
what are your weekends likeMost of my weekends are working weekends --- government meetings launches corporate lunches or tending to other ministry affairs My ideal weekend would involve rest Irsquod like to stay at home or enjoy the scenery while riding on a Sunday and chill by a river
Apple Android or CrackberryI have all three and thatrsquos the problem with being so in tune with digital and new media technology However I prefer the iPhone
ICTs have beCome enGIneS for SoCIal and eConomIC GrowTh Globally and The vISIon for JamaICa IS To UTIlISe ICTS To aTTaIn developed CoUnTry STaTUS by 2030
10
wwwezinesreadercom Your Money eZine
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
The Scotia Bank Chair in Entrepreneurship and Development the Sapna Initiative in the School of Computing and Information Technology at Utech Internet Income Jamaica
and the Institute of Law and Economics have come together to hold a series of Web Entrepreneurship Bootcamps (WEB) Participants
will learn about using social media in business how to monetize blogging website development freelancing among other things The
WEBs will be held over the period of June 2013-May 2014
With the IMF 2013 arrangement local entrepreneurial development is a key goal of the nation to spur on economic development Because of the nature of technology and the speed at which
technologies evolve web entrepreneurship is the next frontier for entrepreneurs to tackle
wwwezinesreadercom Your Money eZine
7
julian Robinson isnrsquot your average politician ndash tall dark handsome and brimming with promises As State Minister in the Ministry of
Science amp Technology Energy amp Mining (MSTEM) Member of Parliament and Deputy General for the Peoplersquos National Party his plate is full and his ambitions grandiose
If wersquore to go by the speed with which Your Moneyrsquos emails to were answered ease of access via phone and social media the regular updating of his website and the fact that he turned off an undoubtedly scintillating match between West Indies and India to facilitate this interview --- we can cursorily say hersquos a new age politician and wersquore hopeful sorta
Perched like the star of David in Bethlehemrsquos night sky is an ICT Road Map of action-oriented initiatives stretching into March 2014 which he will be implementing and by which his tenure will ultimately be judged Just so you know (and this is the point where you make notes) they span four major pillars which includes strengthening of the ICT governance and administrative framework building out Jamaicarsquos ICT infrastructure solidifying the capacity of public institutions and stimulating new business opportunities innovation and entrepreneurship in
our ICT sector ICTs have become engines for social and economic growth globally and
the vision for Jamaica is to utilise ICTs to attain developed country status
by 2030
Get Up Start Up
business lounge
wwwezinesreadercom Your Money eZine
9
five questions with minister robinson
Enchanted by the green green grass that is the flip side of $1021 what reason does the impressive talent and creativity of Jamaicans as acknowledged by foreign investors have to stay Be still and know that according to the Minister the primary goal of our Administration is the facilitation of an environment for the harnessing and growth of our talent How will this be achieved Via systems to fund creative ideas and start-up businesses as well as making available mentorship and business support geared towards educating entrepreneurs
The Kingstoon Animation Festival is one notable project facilitating the exposure of local talent to a global industry with an output value of US$2228 billion On the horizon too is Start Up Jamaica for which a physical space will be erected or determined and play host to local early stage innovators and entrepreneurs who are utilising ICTs to create their businesses SrsquoUp Jamaica (we just came up with that catchy right) is envisioned as a public-private partnership that would see entrepreneurs networking and participating in activities within communities whilst being provided with coaching and mentoring The raft of National ICT Strategy Policy amp Legislation delves into the ambitious portfolio of initiatives and deliverables of his Ministry
what do you want to be when you grow upI wanted to play cricket for the West Indies cricket team I even made the national under-19 junior squad growing up
whatrsquos on your iPodI donrsquot own an iPod I am not much of a music fan I only listen to soothing music at nights before bed
Do you have a daily routineI am an early morning person In the mornings after I wake up I have devotion and read the Daily Bread Then I exercise which normally includes pilates running and riding
what are your weekends likeMost of my weekends are working weekends --- government meetings launches corporate lunches or tending to other ministry affairs My ideal weekend would involve rest Irsquod like to stay at home or enjoy the scenery while riding on a Sunday and chill by a river
Apple Android or CrackberryI have all three and thatrsquos the problem with being so in tune with digital and new media technology However I prefer the iPhone
ICTs have beCome enGIneS for SoCIal and eConomIC GrowTh Globally and The vISIon for JamaICa IS To UTIlISe ICTS To aTTaIn developed CoUnTry STaTUS by 2030
10
wwwezinesreadercom Your Money eZine
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
julian Robinson isnrsquot your average politician ndash tall dark handsome and brimming with promises As State Minister in the Ministry of
Science amp Technology Energy amp Mining (MSTEM) Member of Parliament and Deputy General for the Peoplersquos National Party his plate is full and his ambitions grandiose
If wersquore to go by the speed with which Your Moneyrsquos emails to were answered ease of access via phone and social media the regular updating of his website and the fact that he turned off an undoubtedly scintillating match between West Indies and India to facilitate this interview --- we can cursorily say hersquos a new age politician and wersquore hopeful sorta
Perched like the star of David in Bethlehemrsquos night sky is an ICT Road Map of action-oriented initiatives stretching into March 2014 which he will be implementing and by which his tenure will ultimately be judged Just so you know (and this is the point where you make notes) they span four major pillars which includes strengthening of the ICT governance and administrative framework building out Jamaicarsquos ICT infrastructure solidifying the capacity of public institutions and stimulating new business opportunities innovation and entrepreneurship in
our ICT sector ICTs have become engines for social and economic growth globally and
the vision for Jamaica is to utilise ICTs to attain developed country status
by 2030
Get Up Start Up
business lounge
wwwezinesreadercom Your Money eZine
9
five questions with minister robinson
Enchanted by the green green grass that is the flip side of $1021 what reason does the impressive talent and creativity of Jamaicans as acknowledged by foreign investors have to stay Be still and know that according to the Minister the primary goal of our Administration is the facilitation of an environment for the harnessing and growth of our talent How will this be achieved Via systems to fund creative ideas and start-up businesses as well as making available mentorship and business support geared towards educating entrepreneurs
The Kingstoon Animation Festival is one notable project facilitating the exposure of local talent to a global industry with an output value of US$2228 billion On the horizon too is Start Up Jamaica for which a physical space will be erected or determined and play host to local early stage innovators and entrepreneurs who are utilising ICTs to create their businesses SrsquoUp Jamaica (we just came up with that catchy right) is envisioned as a public-private partnership that would see entrepreneurs networking and participating in activities within communities whilst being provided with coaching and mentoring The raft of National ICT Strategy Policy amp Legislation delves into the ambitious portfolio of initiatives and deliverables of his Ministry
what do you want to be when you grow upI wanted to play cricket for the West Indies cricket team I even made the national under-19 junior squad growing up
whatrsquos on your iPodI donrsquot own an iPod I am not much of a music fan I only listen to soothing music at nights before bed
Do you have a daily routineI am an early morning person In the mornings after I wake up I have devotion and read the Daily Bread Then I exercise which normally includes pilates running and riding
what are your weekends likeMost of my weekends are working weekends --- government meetings launches corporate lunches or tending to other ministry affairs My ideal weekend would involve rest Irsquod like to stay at home or enjoy the scenery while riding on a Sunday and chill by a river
Apple Android or CrackberryI have all three and thatrsquos the problem with being so in tune with digital and new media technology However I prefer the iPhone
ICTs have beCome enGIneS for SoCIal and eConomIC GrowTh Globally and The vISIon for JamaICa IS To UTIlISe ICTS To aTTaIn developed CoUnTry STaTUS by 2030
10
wwwezinesreadercom Your Money eZine
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
five questions with minister robinson
Enchanted by the green green grass that is the flip side of $1021 what reason does the impressive talent and creativity of Jamaicans as acknowledged by foreign investors have to stay Be still and know that according to the Minister the primary goal of our Administration is the facilitation of an environment for the harnessing and growth of our talent How will this be achieved Via systems to fund creative ideas and start-up businesses as well as making available mentorship and business support geared towards educating entrepreneurs
The Kingstoon Animation Festival is one notable project facilitating the exposure of local talent to a global industry with an output value of US$2228 billion On the horizon too is Start Up Jamaica for which a physical space will be erected or determined and play host to local early stage innovators and entrepreneurs who are utilising ICTs to create their businesses SrsquoUp Jamaica (we just came up with that catchy right) is envisioned as a public-private partnership that would see entrepreneurs networking and participating in activities within communities whilst being provided with coaching and mentoring The raft of National ICT Strategy Policy amp Legislation delves into the ambitious portfolio of initiatives and deliverables of his Ministry
what do you want to be when you grow upI wanted to play cricket for the West Indies cricket team I even made the national under-19 junior squad growing up
whatrsquos on your iPodI donrsquot own an iPod I am not much of a music fan I only listen to soothing music at nights before bed
Do you have a daily routineI am an early morning person In the mornings after I wake up I have devotion and read the Daily Bread Then I exercise which normally includes pilates running and riding
what are your weekends likeMost of my weekends are working weekends --- government meetings launches corporate lunches or tending to other ministry affairs My ideal weekend would involve rest Irsquod like to stay at home or enjoy the scenery while riding on a Sunday and chill by a river
Apple Android or CrackberryI have all three and thatrsquos the problem with being so in tune with digital and new media technology However I prefer the iPhone
ICTs have beCome enGIneS for SoCIal and eConomIC GrowTh Globally and The vISIon for JamaICa IS To UTIlISe ICTS To aTTaIn developed CoUnTry STaTUS by 2030
10
wwwezinesreadercom Your Money eZine
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
11
wwwezinesreadercom Your Money eZine
ldquoSay on Payrdquoby Andrew Raymore
Debate
The
[insights]
Recently local press has been inundated with sensational pieces regarding executive com-pensation among some of the nationrsquos corpo-
rate leaders - one glaring headline highlighted that at one financial titan three executives ldquoshare $172 mil-lion dollar salaryrdquo
The disparity between top executive and general staff compensation in the average Jamaican company has been brought to light and leads to a few differing argu-ments
Argument for CompensAting tAlentThe New York Timesrsquo Gretchen Morgenson in her article ldquoCEOrsquos and the Pay-rsquoEm-or-Lose-rsquoEm Mythrdquo Morgenson explains the lsquobrain-drain defensersquo She cites research by Charles M Elson director of the John L Weinberg Centre for Corporate Governance at the University of Delaware whose research shows ldquoit is a false paradoxhellipthe peer group is based on the theory of transferability of talentrdquo But we found that CEO skills are very firm-specific CEOrsquos donrsquot move very often but when they do theyrsquore flopsrdquo
Now theoretically compensation should be kept in check by corporate boards ndash but a cursory glance of some of Jamaicarsquos top firms reveals that almost all have a number of executive board members ndash in essence persons on the board voting on their own their peersrsquo or in some cases their bossrsquos compensa-tion Follow with me and Irsquom sure you can see a con-flict of interest developing here
Argument AgAinst CompensAting tAlentAt the heart of the matter is the rather contentious idea in corporate governance or management theory as an agency problem a corporationrsquos directors are likely to overpay themselves because directly or in-directly they are allowed to pay themselves as a mat-ter of general management power As is expected Jamaican statistics on this topic remains elusive but stats for the US indicate that from 1978 - 2011 CEO compensation increased more than 725 (no that wasnrsquot a typo) substantially higher than stock market growth and 127 times higher than the 57 growth in worker compensation
Some argue that lower level employee compensa-tion is linked to productivity ndash another fallacy ndash de-spite substantial gains in productivity since the 1970s worker pay has remained flat According to US La-bour Department data cited by the Huffington Post inflation-adjusted wages fell 2 in 2011
shAreholder rights And the ACtivist shAreholder lsquoThe activist shareholderrsquo remains a thorn in the side of any company board but the fact is the phenomenon is likely to grow An increased access to in-formation and sense of entitlement to said information is seeing the advent of shareholders not content to simply reap benefits ndash or ride out rough patches but wanting demonstrable input in the affairs of the firms in which they invest And one cause most recently championed by activist share-holders is a crusade against self-determined executive pay scales
the internAtionAl trendThe European Unionrsquos Financial Services Chief recently announced he will seek to give shareholders more power to veto compensation packages including payouts to exiting managers in a draft law later this year Execu-tive pay is trending downwardsjust not in Jamaica In the beginning of June the Israel Securities Authority released the results of a study showing that in 2011 and 2012 there was a substantial decline in the salaries that the top people at publicly traded companies received A decline attributed to social protests against massive executive compensation packages and is also in contrast to the period from 2003 to 2010 when salary costs were on a steady rise The fact is in austere times investors are a lot less forgiving of perceived waste and who can blame them Business leaders need to develop equi-table and engaging corporate cultures if they ever hope to motivate their staff and increase productivity ndash setting a golden egg in the top floor corner office that average Joe knows he wonrsquot reach ndash isnrsquot going to cut it
Itrsquos yet to be seen if Jamaican executives will get the message but Your Money looks forward to the debate
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
Sony tacklingcompetition witha more convenientPlayStation 4 Multinational tech corporation Sony dropped the bomb with the release of specs and information about their latest next generation game console PlayStation 4 The new console is said to be both more liberated and affordable than the Xbox One No online restrictions no required check-ins just virtual epicness
Read more
GoogleformulatedpersonalizedmapsGoogle announced the launch of personalized maps for its users through the use of data from their friends on social media The initial version features only restaurant recommendations but will eventually lead to a transformed navigation experience based on the collection and analysis of data representing the emotions movements and actions of other people
Recommendations are based on ratings given by the userrsquos friends on Googlersquos social network Google+
Read more
ThrowbackPhilippe Kahn French technologist took the first cameraphone photograph in June 1997 He then wirelessly transmitted the photo to more than 2000 people around the world after combining a digital camera and a phone
Apple unveiled cleaner iOS 7 with 3D icon displayApple revealed their revamped operating system with several significant changes to display navigation and radio The home screen of your iPhone will now have a flat interface and a new ldquoparallaxrdquo effect paired with 3D icon display Navigation is made easier with a centralized control interface with a new flashlight feature and a scroll interface for tabs in the Safari browser
Read more
tech news
wwwezinesreadercom Your Money eZine
12
[tech now]
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
13
wwwezinesreadercom Your Money eZine
One Laptop Per Child (OLPC) is a non-profit international organisation providing children from all walks of life access to a computer ldquoTo empower the worldrsquos poorest children
through educationrdquo is the mission and that is exactly what they have been doing The computers made by OLPC are inexpensive child-friendly and designed for all kinds of environments
OLPC Jamaica handles OLPC initiatives locally since September 2008 and have since distributed more than 100 laptops After seeing the potential that OLPC has for improving early childhood education the local group saw where this could be an effective way of enhancing the education experience of Jamaicarsquos children The laptops have a marked difference on the lives of students Many have never even used a computer prior to their exposure to XO laptops but in no time they are navigating their devices like professionals
Windows To The World
The first programme in Jamaica was launched at the August Town Primary School in Mona and began in 2011 This looked at the grade four students being given laptops which would guide them over the next three years whereupon the impact would be shown in the results of the GSAT exam Over the three year period there would be consistent project monitoring and evaluation to see the overall effectiveness of the project
Since then two other programmes have been launched at the Providence Basic School in Liguanea and the Mission Home Basic School in Gordon Town Partnerships with companies and organisations such as LIME PACE Canada UWI Township Project PACT Western Union Foundation Moneague College Centre of Excellence Mona School of Business OLPC San Francisco and the Early Childhood Commission have contributed to making this all possible
OLPCrsquos impacts more than 40 countries and over 2 million individuals across the world have benefitted from the XO laptops The XO is a connected linux based device with two display modes one that is full-colour and transmissive and one that is black and white reflective and sun readable at all times The importance of these features is that the device should be usable in all conditions In some developing countries this is the first time there has been any interaction with an electronic device of this nature And they prove to be learning tools not just for the child but also for the communityWhen laptops are disseminated like textbooks and the child can carry it home a family that was previously ignorant and unexposed finds that they now have a window to the world
[DO GOOD]
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
trAnsCelmaking mobile money accessible
wwwezinesreadercom Your Money eZine
14
[start-ups]
Transcel is not a household name in fact unless yoursquore involved in the tech or financial sector you might not have ever heard of them Donrsquot let that fool you they are currently poised on
the brink of changing the way Jamaican companies do business
This software technology company was started in 2010 Hugo Daley Chairman and CEO says ldquoWe are the first mobile money solution for Jamaica In Jamaica our focus is to providing a simple yet effective method for Microfinance Institutions (MFIs) to provide and manage loans to Jamaicarsquos vast unbanked population and for those customers to receive loans transfer funds or buy goods using a mobile phone accountrdquo
A novel idea and one that has gained traction all over the world In developing nations mobile banking targets the unbanked population these are adults who for one reason or another do not have bank accounts It has been estimated that half of the worldrsquos adult population falls into this category
Transcel was started by a group of techies with an entrepreneurial mind all looking to make a difference in Jamaica Presently the company is made up of the best as Daley tells us wherever they saw the best talent they went after it and wooed them to the team The team at Transcel is made up of members who have
varying levels of experience from those with more than 30 years in the tech industry to Aston Hamilton who just finished his first degree in computer science and electronics at the University of the West Indies Aston was approached by Dr Ashley Hamilton-Taylor a founding member of Transcel who lectured him in his first year After meeting the Transcel team Aston was inspired by the team and the work that they were doing and decided to join in 2011
What sets Transcel apart however is the innovation behind what they are doing ldquoIn Jamaica we are the first mobile Money solution and our focus and approach to Microfinance organizations is unique Globally there is no mobile money gateway that exists that connects the various players in the reasonably young mobile money market together Doing so will enable greater movement of money across borders and facilitate remittance payments which is not available via mobile money yet Finally we have built a very unique feature in our product called the lsquoConversation Managerrsquo which simplifies and reduces the cost of delivering customer service while simultaneously improving it All of these together make us quite a formidable force in the mobile money marketrdquo said Chief Commercial Officer of Transcel Racquel Moses
wwwtranscelcom
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
Your Money eZine wwwezinesreadercom
15
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
wwwezinesreadercom Your Money eZine
16
GooGle Sky MapIf yoursquore a science geek or freak you can proudly embrace it with this app
from Google for Android devices Through simply launching the app
and positioning your phonersquos camera towards the night sky Sky Map shows
you the star or constellation yoursquore seeing
The app uses GPS and compass data to derive astronomical
locations You can also search for specific celestial objects and the app will provide the position of that object based on your time
zone and position
Sky Map is free to download from the Google Play Store
SaverThis is an Apple app
for iPhone iPad and iPod touch
devices that allows you to track your
expenses and control your budget For
entrepreneurs managers and workers alike
Saver offers the mobile
digitizing and personalizing
of your funds while making budgeting a
whole lot easier
autoCaD 360For the more advanced techies AutoCAD allows you to share view
and edit design files Created for the fields of architecture construction and technology this app for MacBook is
made specifically for the modification and transferal of DWG (drawing) and DXF
(drawing interchange file) two and three dimensional design data
Users are able to upload files to your account for sharing or save files locally for future
modification offline
The app can be download from both the Mac App Store and the Google Play Store
apps for techies
[Apptitude]
These days apps are everywhere You go into the App Store app and
yoursquore overwhelmed with their top 25 or the newest ones to hit the virtual shelves Here we cull through and select the ones we
think are best for you
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
17
wwwezinesreadercom Your Money eZine
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
ten Habits tHatrsquoll Help You look on tHe brigHt side
18
wwwezinesreadercom Your Money eZine
Have Gratitude Be grateful by counting the
blessings you have been bestowed with for from this comes true personal
satisfaction Also have equal gratitude for your hardships
because they improve your strength perseverance and
resilience
Share Your Stories Sharing our experiences inclusive of our successes and our failures
allows us to take comfort in the fact that others share our trials and
adventures Itrsquos a symbiotic process through which we build evolve and
move forward
Forgive Forgiving allows us to move past
indiscretions and have a better chance of
living a happier life The easiest way to
forgive is to remember that the past is the
past and we have the opportunity to
prevent spoiling the present
Be A Better Listener Being a better listener
improves your ability to take in more knowledge
This also portrays confidence and respect
which alludes to self assurance and
optimism
Turn Envy And Jealousy Into
Energy Transform your ldquohaterismrdquo into positive energy
and productivity Use other peoplersquos
success as encouragement to achieve your own
2
53
4
[10 things]
1
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more
wwwezinesreadercom Your Money eZine
19
910
6 7
8
Smile More Frown LessSmiles generate a happy environment that encourages those around you to adopt the same attitude Sporting a
frown might disintegrate relationships and result in less productivity in the
office and within your personal space
Be A Positive Forward ThinkerFinding optimism in the face of gloom is a great
way to think forward and move on Itrsquos better to utilize that energy yoursquod waste worrying over
disappointment on an activity that contributes to and facilitates your progression
Understand That The Past Is Not A
Blueprint For The Future
Adversity experienced in the past will not affect your present success if
you donrsquot allow it to Itrsquos important to concentrate
and build on the opportunities you possess
today rather than hide behind the negativity in
your past
Stop Blaming OthersInstead of attributing your
trials to external factors such as the economy politicians bosses or whatever take
control of your will Once you stop placing blame take full
control of your actions and milk all opportunities presented to you success comes naturally
Exercise Eat A Healthy Diet And Take In Vitamin D
Daily exercise is pertinent to your health and attitude whether through 15 minutes of routine exercise or from
natural light therapy If yoursquore a workaholic or just donrsquot have enough free time
include exercise in daily activities such as using the staircase instead of
the elevator and practice healthy eating habits with a balanced diet filled with
fruits vegetables and nuts
Read more