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🔗 Technology 🔗 Business 🔗 Electronics 🔗 Energy 🔗 Home Living

The Phoebus cartel existed to control the manufacture and sale of incandescent light bulbs. They appropriated market territories and fixed the useful life of such bulbs. Corporations based in Europe and America founded the cartel on January 15, 1925 in Geneva. They had intended the cartel to last for thirty years (1925 to 1955). The cartel ceased operations in 1939 owing to the outbreak of World War II. The cartel included manufacturers Osram, General Electric, Associated Electrical Industries, and Philips, among others.

The Phoebus cartel created a notable landmark in the history of the global economy because it engaged in large-scale planned obsolescence to generate repeated sales and maximize profit. It also reduced competition in the light bulb industry for almost fifteen years. Critics accused the cartel of preventing technological advances that would produce longer-lasting light bulbs. Phoebus based itself in Switzerland. The corporation named itself Phœbus S.A. Compagnie Industrielle pour le Développement de l'Éclairage (French for "Phoebus, Inc. Industrial Company for the Development of Lighting").

🔗 Lists 🔗 Philosophy 🔗 Philosophy/Logic 🔗 Business 🔗 Psychology 🔗 Cognitive science

Cognitive biases are systematic patterns of deviation from norm or rationality in judgment, and are often studied in psychology and behavioral economics.

Although the reality of most of these biases is confirmed by reproducible research, there are often controversies about how to classify these biases or how to explain them. Some are effects of information-processing rules (i.e., mental shortcuts), called heuristics, that the brain uses to produce decisions or judgments. Biases have a variety of forms and appear as cognitive ("cold") bias, such as mental noise, or motivational ("hot") bias, such as when beliefs are distorted by wishful thinking. Both effects can be present at the same time.

There are also controversies over some of these biases as to whether they count as useless or irrational, or whether they result in useful attitudes or behavior. For example, when getting to know others, people tend to ask leading questions which seem biased towards confirming their assumptions about the person. However, this kind of confirmation bias has also been argued to be an example of social skill: a way to establish a connection with the other person.

Although this research overwhelmingly involves human subjects, some findings that demonstrate bias have been found in non-human animals as well. For example, loss aversion has been shown in monkeys and hyperbolic discounting has been observed in rats, pigeons, and monkeys.

🔗 Economics 🔗 Statistics 🔗 Business 🔗 Politics

Goodhart's law is an adage named after economist Charles Goodhart, which has been phrased by Marilyn Strathern as "When a measure becomes a target, it ceases to be a good measure." One way in which this can occur is individuals trying to anticipate the effect of a policy and then taking actions that alter its outcome.

🔗 Business 🔗 Automobiles

The Toyota Way is a set of principles and behaviors that underlie the Toyota Motor Corporation's managerial approach and production system. Toyota first summed up its philosophy, values and manufacturing ideals in 2001, calling it "The Toyota Way 2001". It consists of principles in two key areas: continuous improvement, and respect for people.

🔗 Economics 🔗 Business 🔗 Sociology 🔗 Occupations

This is a category of jobs that have been rendered obsolete due to advances in technology and/or social conditions.

🔗 California 🔗 Business 🔗 Politics 🔗 Trains 🔗 Politics/American politics 🔗 Trains/Rapid transit 🔗 Buses 🔗 Trains/Streetcars

The notion of a General Motors streetcar conspiracy emerged after General Motors (GM) and other companies were convicted of monopolizing the sale of buses and supplies to National City Lines (NCL) and its subsidiaries. In the same case, the defendants were accused of conspiring to own or control transit systems, in violation of Section 1 of the Sherman Antitrust act. The suit created lingering suspicions that the defendants had in fact plotted to dismantle streetcar systems in many cities in the United States as an attempt to monopolize surface transportation.

Between 1938 and 1950, National City Lines and its subsidiaries, American City Lines and Pacific City Lines—with investment from GM, Firestone Tire, Standard Oil of California (through a subsidiary), Federal Engineering, Phillips Petroleum, and Mack Trucks—gained control of additional transit systems in about 25 cities. Systems included St. Louis, Baltimore, Los Angeles, and Oakland. NCL often converted streetcars to bus operations in that period, although electric traction was preserved or expanded in some locations. Other systems, such as San Diego's, were converted by outgrowths of the City Lines. Most of the companies involved were convicted in 1949 of conspiracy to monopolize interstate commerce in the sale of buses, fuel, and supplies to NCL subsidiaries, but were acquitted of conspiring to monopolize the transit industry.

The story as an urban legend has been written about by Martha Bianco, Scott Bottles, Sy Adler, Jonathan Richmond, and Robert Post. It has been explored several times in print, film, and other media, notably in Who Framed Roger Rabbit, Taken for a Ride, Internal Combustion, and The End of Suburbia.

Only a handful of U.S. cities, including San Francisco, New Orleans, Newark, Cleveland, Philadelphia, Pittsburgh, and Boston, have surviving legacy rail urban transport systems based on streetcars, although their systems are significantly smaller than they once were. Other cities are re-introducing streetcars. In some cases, the streetcars do not actually ride on the street. Boston had all of its downtown lines elevated or buried by the mid-1920s, and most of the surviving lines at grade operate on their own right of way. However, San Francisco's and Philadelphia's lines do have large portions of the route that ride on the street as well as using tunnels.

🔗 Biography 🔗 Business 🔗 New York (state) 🔗 India 🔗 New York (state)/Cornell University 🔗 Zoroastrianism 🔗 India/Mumbai 🔗 India/Maharashtra

Ratan Tata (28 December 1937 – 9 October 2024) was an Indian industrialist and philanthropist who served as chairman of Tata Group and Tata Sons from 1990 to 2012, and then as interim chairman from October 2016 through February 2017. In 2008, he received the Padma Vibhushan, the second highest civilian honour in India. Ratan had previously received the Padma Bhushan, the third highest civilian honour, in 2000. He passed away on October 9, 2024, following a prolonged illness related to his age.

Ratan Tata was the son of Naval Tata, who was adopted by Ratanji Tata. Ratanji Tata was the son of Jamshedji Tata, the founder of the Tata Group. He graduated from the Cornell University College of Architecture with a bachelor's degree in architecture. He joined Tata in 1961, where he worked on the shop floor of Tata Steel. He later succeeded J. R. D. Tata as chairman of Tata Sons upon the latter's retirement in 1991. During his tenure, the Tata Group acquired Tetley, Jaguar Land Rover, and Corus, in an attempt to turn Tata from a largely India-centric group into a global business. Tata was also a philanthropist.

Tata was a prolific investor and invested in over 30 start-ups, most in a personal capacity and some via his investment company.

🔗 Books 🔗 Business 🔗 Psychology 🔗 Organizations

The Peter principle is a concept in management developed by Laurence J. Peter, which observes that people in a hierarchy tend to rise to their "level of incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another. The concept was elucidated in the book The Peter Principle (William Morrow and Company, 1969) by Dr Peter and Raymond Hull.

Peter and Hull intended the book to be satire, but it became popular as it was seen to make a serious point about the shortcomings of how people are promoted within hierarchical organizations. Hull wrote the text, based on Peter's research. The Peter principle has been the subject of much subsequent commentary and research.

🔗 Business 🔗 Engineering 🔗 Japan 🔗 Japan/Science and technology 🔗 Japan/Business and economy

Poka-yoke (ポカヨケ, [poka yoke]) is a Japanese term that means "mistake-proofing" or "inadvertent error prevention". A poka-yoke is any mechanism in any process that helps an equipment operator avoid (yokeru) mistakes (poka). Its purpose is to eliminate product defects by preventing, correcting, or drawing attention to human errors as they occur. The concept was formalised, and the term adopted, by Shigeo Shingo as part of the Toyota Production System. It was originally described as baka-yoke, but as this means "fool-proofing" (or "idiot-proofing") the name was changed to the milder poka-yoke.

🔗 History 🔗 Ancient Near East 🔗 Business 🔗 Iraq

The complaint tablet to Ea-nasir is a clay tablet from ancient Babylon written c. 1750 BC. It is a complaint to a merchant named Ea-Nasir from a customer named Nanni. Written in cuneiform, it is considered to be the oldest known written complaint. It is currently kept in the British Museum.

Ea-Nasir travelled to the Persian Gulf to buy copper and return to sell it in Mesopotamia. On one particular occasion, he had agreed to sell copper ingots to Nanni. Nanni sent his servant with the money to complete the transaction. The copper was sub-standard and not accepted. In response, Nanni created the cuneiform letter for delivery to Ea-nasir. Inscribed on it is a complaint to Ea-nasir about a copper ore delivery of the incorrect grade, and issues with another delivery. He also complained that his servant (who handled the transaction) had been treated rudely. He stated that, at the time of writing, he had not accepted the copper but had paid the money.

The tablet is 11.6 centimetres (4.6 in) high, 5 centimetres (2.0 in) wide, 2.6 centimetres (1.0 in) thick, and slightly damaged. Translated from Akkadian, it reads:

Tell Ea-nasir: Nanni sends the following message:

When you came, you said to me as follows : "I will give Gimil-Sin (when he comes) fine quality copper ingots." You left then but you did not do what you promised me. You put ingots which were not good before my messenger (Sit-Sin) and said: "If you want to take them, take them; if you do not want to take them, go away!"

What do you take me for, that you treat somebody like me with such contempt? I have sent as messengers gentlemen like ourselves to collect the bag with my money (deposited with you) but you have treated me with contempt by sending them back to me empty-handed several times, and that through enemy territory. Is there anyone among the merchants who trade with Telmun who has treated me in this way? You alone treat my messenger with contempt! On account of that one (trifling) mina of silver which I owe(?) you, you feel free to speak in such a way, while I have given to the palace on your behalf 1,080 pounds of copper, and Šumi-abum has likewise given 1,080 pounds of copper, apart from what we both have had written on a sealed tablet to be kept in the temple of Shamash.

How have you treated me for that copper? You have withheld my money bag from me in enemy territory; it is now up to you to restore (my money) to me in full.

Take cognizance that (from now on) I will not accept here any copper from you that is not of fine quality. I shall (from now on) select and take the ingots individually in my own yard, and I shall exercise against you my right of rejection because you have treated me with contempt.

The tablet was acquired by the British Museum in 1953. It was originally found in the ruins of Ur.