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🔗 Finance & Investment 🔗 Economics 🔗 Business 🔗 Cooperatives

A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operatives).

Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016.

Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative to credit unions and were two and a half times more likely to fail during the crisis. American credit unions more than doubled lending to small businesses between 2008 and 2016, from $30 billion to $60 billion, while lending to small businesses overall during the same period declined by around $100 billion. In the US, public trust in credit unions stands at 60%, compared to 30% for big banks. Furthermore, small businesses are 80% less likely to be dissatisfied with a credit union than with a big bank.

"Natural-person credit unions" (also called "retail credit unions" or "consumer credit unions") serve individuals, as distinguished from "corporate credit unions", which serve other credit unions.

🔗 Environment 🔗 Business 🔗 Politics 🔗 Sociology

In planning and policy, a wicked problem is a problem that is difficult or impossible to solve because of incomplete, contradictory, and changing requirements that are often difficult to recognize. It refers to an idea or problem that cannot be fixed, where there is no single solution to the problem; and "wicked" denotes resistance to resolution, rather than evil. Another definition is "a problem whose social complexity means that it has no determinable stopping point". Moreover, because of complex interdependencies, the effort to solve one aspect of a wicked problem may reveal or create other problems.

The phrase was originally used in social planning. Its modern sense was introduced in 1967 by C. West Churchman in a guest editorial Churchman wrote in the journal Management Science, responding to a previous use of the term by Horst Rittel. Churchman discussed the moral responsibility of operations research "to inform the manager in what respect our 'solutions' have failed to tame his wicked problems". Rittel and Melvin M. Webber formally described the concept of wicked problems in a 1973 treatise, contrasting "wicked" problems with relatively "tame", soluble problems in mathematics, chess, or puzzle solving.

🔗 United States 🔗 Business 🔗 Marketing & Advertising 🔗 Food and drink 🔗 Food and drink/Beverages

Between 1886 and 1959, the price of a 6.5-oz glass or bottle of Coca-Cola was set at five cents, or one nickel, and remained fixed with very little local fluctuation. The Coca-Cola Company was able to maintain this price for several reasons, including bottling contracts the company signed in 1899, advertising, vending machine technology, and a relatively low rate of inflation. The fact that the price of the drink was able to remain the same for over seventy years is especially significant considering the events that occurred during that period, including the founding of Pepsi, World War I, Prohibition, changing taxes, a caffeine and caramel shortage, World War II, and the company's desire to raise its prices. Much of the research on this subject comes from "The Real Thing": Nominal Price Rigidity of the Nickel Coke, 1886–1959, a 2004 paper by economists Daniel Levy and Andrew Young.

🔗 United States 🔗 Companies 🔗 Business 🔗 Philately

The American Letter Mail Company was started by Lysander Spooner in 1844, competing with the presumed legal monopoly of the United States Post Office (USPO, now the USPS).

🔗 Business 🔗 Urban studies and planning 🔗 Cities

A company town is a place where practically all stores and housing are owned by the one company that is also the main employer. Company towns are often planned with a suite of amenities such as stores, houses of worship, schools, markets and recreation facilities. They are usually bigger than a model village ("model" in the sense of an ideal to be emulated).

Some company towns have had high ideals, but many have been regarded as controlling and/or exploitative. Others developed more or less in unplanned fashion, such as Summit Hill, Pennsylvania, United States, one of the oldest, which began as an LC&N Co. mining camp and mine site nine miles (14.5 km) from the nearest outside road.

🔗 Business

Founder's syndrome (also founderitis) is the difficulty faced by organizations where one or more founders maintain disproportionate power and influence following the effective initial establishment of the project, leading to a wide range of problems for the organization. The passion and charisma of the founder(s), sources of the initial creativity and productivity of the organization, become limiting or destructive factors. The syndrome occurs in both non-profit and for-profit organizations. It may simply limit further growth and success of the project, or it may lead to bitter factionalism and divisions as the scale of demands made on the organization increases, or it may result in outright failure. There are ways in which a founder or organization can respond and grow beyond this situation.

🔗 Biography 🔗 China 🔗 Business 🔗 Women

Zhou Qunfei (Chinese: 周群飞; born 1970) is a Chinese entrepreneur who founded the major touchscreen maker Lens Technology. After the public listing of her company on the Shenzhen ChiNext market in March 2015, her net worth reached US$10 billion, making her the richest woman in China. In 2018, she was named the world's richest self-made woman, with a net worth of $9.8 billion.

🔗 Business 🔗 Psychology 🔗 Education

Linda Stone, a tech writer and consultant, coined the term continuous partial attention in 1998 to describe a modern adaptive behavior of continuously dividing one's attention. Stone has clarified that continuous partial attention is not the same as multi-tasking. Where multi-tasking is driven by a conscious desire to be productive and efficient, CPA is an automatic process motivated only by "a desire to be a live node on the network" or by the willingness to connect and stay connected, scanning and optimizing opportunities, activities and contacts in an effort to not miss anything that is going on.

Continuous partial attention is not necessarily a dysfunctional state. However, it may lead to increased stress and decreased ability to focus and concentrate on the present moment, prohibiting reflection, contemplation, and thoughtful decision making. The constant connectedness that is associated with continuous partial attention may also affect relationships, lower productivity levels, and lead to over-stimulation and a lack of fulfillment.

Linda Stone's research has focused on examples in the United States though she has posited that, "We may not all find ourselves in the same attention era at the same time. We are likely to find ourselves experiencing a flow: attraction to an ideal, taking the expression of the ideal to an extreme and experiencing unintended and less than pleasant consequences, giving birth to and launching a new ideal while integrating the best of what came before."

🔗 Computing 🔗 Systems 🔗 Business 🔗 Computing/Software 🔗 Computing/Computer science 🔗 Engineering 🔗 Systems/Systems engineering

Hofstadter's law is a self-referential adage, coined by Douglas Hofstadter in his book Gödel, Escher, Bach: An Eternal Golden Braid (1979) to describe the widely experienced difficulty of accurately estimating the time it will take to complete tasks of substantial complexity:

Hofstadter's Law: It always takes longer than you expect, even when you take into account Hofstadter's Law.

The law is often cited by programmers in discussions of techniques to improve productivity, such as The Mythical Man-Month or extreme programming.

🔗 Philosophy 🔗 Philosophy/Logic 🔗 Business 🔗 Marketing & Advertising 🔗 Linguistics 🔗 Philosophy/Philosophy of language 🔗 Linguistics/Philosophy of language 🔗 Etymology

Bullshit (also bullcrap) is a common English expletive which may be shortened to the euphemism bull or the initialism B.S. In British English, "bollocks" is a comparable expletive. It is mostly a slang term and a profanity which means "nonsense", especially as a rebuke in response to communication or actions viewed as deceptive, misleading, disingenuous, unfair or false. As with many expletives, the term can be used as an interjection, or as many other parts of speech, and can carry a wide variety of meanings. A person who communicates nonsense on a given subject may be referred to as a "bullshit artist".

In philosophy and psychology of cognition the term "bullshit" is sometimes used to specifically refer to statements produced without particular concern of truth, to distinguish from a deliberate, manipulative lie intended to subvert the truth.

While the word is generally used in a deprecatory sense, it may imply a measure of respect for language skills or frivolity, among various other benign usages. In philosophy, Harry Frankfurt, among others, analyzed the concept of bullshit as related to, but distinct from, lying.

As an exclamation, "Bullshit!" conveys a measure of dissatisfaction with something or someone, but this usage need not be a comment on the truth of the matter.