Top Five Reasons Why Every Company Needs a Corporate Sustainability Strategy

National security, geopolitical instability, global economic crisis, and climate change, are few of the main issues that continue to stimulate the global drive toward sustainability. NGOs, communities, financial institutions, investors, clients, the media, and regulators, on the other hand all have high expectations on companies to examine the impact their so-called sustainable business practices have on the environment. There is however evidence that shows that corporate sustainability to a large extend creates a noteworthy competitive advantage and also high returns for companies willing to change their corporate culture and mindset to the understanding that going green makes good business sense.

Reasons

- Better management of business threats and risks – With a viable corporate sustainability strategy in place, a company can use it as a guide to prepare itself for any eventualities that may occur. This greatly helps to make sure those possible risks as well as liabilities are accounted for in the process of accounting for other valuables of the company and as a result it will reduce the severity of the risks. Additionally, it will help achieve the right financial status and take an insurance if need be.

- Today’s workforce is not only after job security, competitive salaries, safe working environment, but most of the employees prefer to be part of a company that creates a positive impact in the society. Having a corporate sustainability strategy in place therefore helps retain the best and most talented employees as well as attract the same.

- Improve on the brand image, its reputation, and recognition – a well implemented strategy will impact positively on the reputation of the company as well as the brand image by showing, through sustainable marketing that the company is taking full responsibilities for all its actions while at the same time accepting change for the betterment of the environment.

- Product and/or Service Differentiation – a company’s socially and environmentally friendly services or products can get a whole new class of faithful clients, hence increasing not only their market share but also utilizing new markets. Everyone wants to feel good about a product or service they are buying hence it is no longer enough to only provide superior quality products at competitive fair prices. To embrace this new change in the expectations of the clients, companies, through viable corporate sustainability strategies, should invent new products or re-model their existing ones to relocate themselves as leading the way in sustainable business practices.

- Cut down on manufacturing and operating costs – cutting down on water, energy, and material consumption, and reducing the generation of waste and emissions substantially reduce the operating and manufacturing costs, and in return enhance the company’s bottom line as stipulated in its sustainable marketing plan.

Any forward thinking company with a tangible corporate sustainability strategy will not only optimize the efficiency in the operating and manufacturing facilities but will equally re-model its products to be ecologically efficient, and as a result reduce any future costs and have a positive effect on not only the client but also the value of the shareholder.

Corporate Round up

World’s largest telecom operator by revenue, Vodafone Group is looking to sell its 4.39% indirect holding in Bharti Airtel, India’s largest telecom company. The British firm has bought 10% stake in Bharti in 2005, but sold nearly half of that after it entered the Indian market on its own in 2007.

The current stake could fetch up to $2 billion for Vodafone. Vodafone's chief executive Vittorio Colao confirmed that the company is looking at off-loading its minority stake. The promoters family, Mittal’s hold less than 30% stake in the company now, while Singapore Telecom company, SingTel is the largest shareholder with about 30.5%. SingTel’s stake is set to reach around 32% after a deal last month for another 1.52% indirect stake in the company.

At current valuation, Vodafone’s stake in Bharti could be worth around Rs 5,500 crore. This could be much higher going by the last month’s deal that saw SingTel buying the 1.52% stake for Rs 3,008 crore. At this rate, the stake could fetch Vodafone as much as Rs 8,700 crore.

Volkswagen buys stake in Suzuki

Europe’s largest car maker, Volkswagen has bought 20% stake in Indian carmaker Maruti’s Japanese parent Suzuki Motor Corp (SMC) for about $2.5 billion, a move aimed at enhancing its presence in small car segment in Asia. Maruti Suzuki accounts for over half the cars on Indian roads, giving Volkswagen the volumes it needs to topple Toyota Motor Company as the world’s largest carmaker with estimated sales of seven million units this year. In return, SMC would benefit from the European company’s expertise in hybrid cars.

ICICI puts 3i on block

ICICI group is in talks to sell its entire stake in 3i Infotech, its IT venture. According to sources in the investment banking circles global private equity firms Apax Partners, Carlyle and KKR have shown interest in buying ICICI’s 27% stake in 3i Infotech.

A potential acquisition would take the total investment to Rs 800-900 crore and will also require the buyer to launch a mandatory 20% open offer in the stock market.

Tiger Woods updates: Major corporate sponsors - alleged meetings to discuss fate of endorsements

Tiger Woods has admitted to infidelity via an official statement posted on his website, and now, according to a new report, 3 of his major corporate sponsors allegedly met today to discuss the fate of Woods' multi-million dollar endorsement deals.

FoxNews.com reports: "Several of Tiger Woods' corporate sponsors, including Pepsi, Proctor and Gamble, and Gillette, are in meetings Friday discussing whether or not the golf pro's actions in his personal life violated the terms of his multi-million dollar deals. Reps for Pepsi, Gillette and Proctor and Gamble did not respond for comment."

Fox also reports that a rep from Nike said their "involvement with Woods has not changed," in light of what is happening.

Among the things stated in Woods' statement was the fact that he is indeed taking a break from Golf. Woods says:

"After much soul searching, I have decided to take an indefinite break from professional golf. I need to focus my attention on being a better husband, father, and person.

Again, I ask for privacy for my family and I am especially grateful for all those who have offered compassion and concern during this difficult period."

Do you think Woods' endorsement deals should remain in tact? Shouldn't there be a separation between his personal and professional life?

Corporate leaders are second most active group at world climate conference, after official negotiators - 2nd Page

companies with higher energy costs, stunting growth.

The chamber said in a news release Friday that its message to climate delegates is "businesses are committed to continuing to improve their environmental stewardship to address climate change ... (but) any agreement must not undermine economic competitiveness or shed jobs."

When international leaders first gathered to discuss global warming, in Rio de Janeiro in 1991, only a few corporate chiefs joined them, said Norine Kennedy, vice president for energy and environment affairs for the United States Council for International Business. Last week, hundreds and perhaps thousands made the trip to Copenhagen.

"Our thinking has evolved as the treaty has evolved, as it has grown into new areas," said Kennedy, whose group represents 300 companies and is pushing for a more active business role in climate negotiations. "We see a larger and larger range of companies _ not just in terms of their sectors, but sizes and nationalities _ participating."

A combination of responsibility and opportunity has driven the shift, according to several of the executives who swung through the conference to lobby for an agreement.

"What has changed in the last 10 years is that businesses have understood that to be sustainable is a must, and there is no future without concern for the environment," said Philippe Joubert, president of Paris-based Alstom Power, which operates power plants around the globe and recently opened the world's first pilot-scale plant for capturing and storing carbon dioxide emissions from coal.

Joubert and several other business leaders here all said they want the Copenhagen talks to yield long-term rules that will set a price on greenhouse gas emissions. The sentiment, oddly enough, echoes the consensus of oil and gas executives who gathered for a conference in Houston early this year.

"There's one point which the whole energy sector agrees upon, which is, the need to make a decision on the future price of carbon," said Peter Brun, senior vice president for government relations at Vestas, the Danish wind company whose blue logo graces the giant turbine spinning outside the Bella Center.

Companies are also watching closely to see if various pledges to reduce emissions could, in the short run at least, change the dynamics of global supply chains by, say, making energy sufficiently cheaper in Cambodia than in China to lure manufacturing across borders.

U.S. companies have raised the issues of energy costs and competitiveness with Locke, the commerce secretary. On Friday morning, he sat for an hourlong chat _ over water, no coffee _ with representatives from Intel, Microsoft, GE, FedEx and two dozen other companies. Locke said the conversation revolved around the opportunities of emissions reduction.

If the world keeps cutting emissions and the United States doesn't follow suit, Locke said the executives told him, those companies "will establish plants in other countries to meet their changing (energy) needs."

Corporate leaders are second most active group at world climate conference, after official negotiators - 1st Page

COPENHAGEN, Denmark _ From the legions of environmental Cassandras gathered in Copenhagen, Denmark, for international climate negotiations, an unlikely batch of advocates has emerged to champion a new global warming agreement: businesspeople.

Corporate leaders, the rarest of commodities at the first climate talks nearly two decades ago, have staked a claim to the title of biggest player in Copenhagen outside of official negotiators themselves.

They have blanketed the host Bella Center in company logos and glossy brochures touting business efforts to reduce greenhouse gas emissions. An army of chief executives descended on the conference Friday to urge the assembled government officials to restrict emissions and thereby unleash a new wave of so-called clean energy investment. On Sunday, Coca-Cola was to co-host a business roundtable with the World Wildlife Fund.

Some of the executives, including major players in the utility and technology sectors, see massive profit potential in a worldwide shift away from fossil fuels and toward wind, solar, energy efficiencies and other low-emission energy sources.

Other companies say they're looking for uniformity in the increasingly global economy, where major markets such as Europe currently restrict emissions while the United States and most of Asia do not.

Government leaders at the conference say the increased corporate engagement has given new urgency to the negotiations and improved the chances of averting what scientists say could be the most catastrophic effects of climate change.

"This climate problem is too big, and the need for investment is too great, for government to do it alone," Commerce Secretary Gary Locke told an overflow crowd Friday.

The big-business side to the talks has angered some climate activists, who decry "green capitalism" and call for massive wealth transfers from the richest nations to developing countries struggling to cope with climate change. One Friday speech at Klimaforum09, a gathering of environmentalists running parallel to the conference, was titled "Global Warming: the Capitalist Catastrophe and the Eco-socialist Alternative."

And while increasingly vocal, business leaders remain somewhat divided on climate policy, with groups such as the U.S. Chamber of Commerce urging "realism" on global efforts and opposing emissions limits pending before Congress.

Several economic studies funded by business groups have warned this year that emissions limits would cripple U.S.

Corporate lending resumes growth in third quarter

Corporate loans extended by Korean financial firms grew at a faster pace in the third quarter from three months earlier amid signs of an economic recovery, the central bank said yesterday.

Local corporate lending stood at 718 trillion won ($611.6 billion) in the July-September period, up 12.3 trillion won or 1.7 percent from the previous quarter, according to the Bank of Korea. It was the fastest growth since the first quarter, when such loans rose 2 percent.

Total loans provided by banks and non-bank financial firms reached 1,256.7 trillion won as of the end of September, up 1.8 percent from three months earlier, the BOK said.

By industry, lending to manufacturers gained 2 percent to 217.9 trillion won during the last quarter.

The Korean economy grew 2.9 percent in the third quarter from three months earlier, the steepest quarterly expansion in more than seven years, on improving domestic demand and brisk exports.

The BOK cut its key interest rate by a total of 3.25 percentage points to a record low of 2 percent between October 2008 and February. Afterward it kept the rate unchanged for the nine straight months through this month

Corporate Governance

Effective Corporate Ethics — More Than A Code Part 1
Crises in the global economic and financial landscape reached seemingly epic proportions. Once again there is a focus on ethics
Failed Leadership Caused the Financial Crisis

We need to do more than fix the crisis; we need to fix the mindset that got us into it. …They should be authentic leaders, focused on serving their clients and all the institution’s constituents, rather than charismatic leaders seeking money, fame, and power for themselves.
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Despite lessons learned during the Enron era, government regulations, and companies’ codes of ethics, surveys indicate problems with ethics.

◦The Edelman Trust Barometer indicated that trust in business fell below those of the Enron era
◦Surveys by Integrity Interactive Corporation and Alt­man Weil, and CFO Europe Research Services (free registration required) both showed that most companies do not go much beyond issuing codes of ethics
◦Compliance Week’s 2009 Global Integrity Survey indicated “…Accord­ing to the findings, 43.3 percent of respondents don’t measure the integrity performance of management at all. Of those companies that do, 29.9 percent grade their management through an employee review process, followed by 26.8 percent that tie compensation to integrity. Only 11.5 percent of respondents said they grade integrity performance through internal benchmarking.”
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…there is a gap between the existence of explicit ethical values and principles, often expressed in the form of a code, and the attitudes and behaviour of the organization…two basic reasons appear to be at the heart of the problem: ineffective ethics programmes and deficiencies in corporate culture…corporate ethical values requires well-designed ethics policies, sustained ethical leadership and incorporation of ethics in organisational processes and strategy as part of an ethical culture at all levels of the organisation.

Corporate codes of ethics:necessary but not sufficient
Simon Webley and AndreaWernern Business Ethics: A European Review Volume 17 Number 4 October 2008
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Perhaps the key reason is that most companies don’t realize that ethics must start with “the tone at the top”. Board and C-Suite members must be visible in promoting ethical behavior and putting in place an ethics program that promotes an ethics culture. This takes considerable effort and time since it must be embedded in the existing corporate culture. Perhaps this deters most companies.

Here is an example from the Bell System (old AT&T) before the 1984 divestiture. The Long Lines unit had a culture that promoted employee safety. Some elements included–

◦Every employee had to attend a monthly safety presentation on a variety of topics
◦Employees received desk drop materials
◦Safety posters were displayed in public areas
◦If there was an accident, a report had to be completed and sent to head of the department within 24 hours
◦There was an annual event for employees and their families
◦Even at the annual off-site middle to upper management conference, there was a safety presentation before the agenda started.

This is the type of effort that is needed to ensure that all employees know that they must be ethical in all matters.

There are some current companies that do understand that ethics must be promoted every day. These companies will be profiled in future posts.

I Support a Ban on Corporate Donations in Politics

Corporations aren’t people. They don’t have the same rights. They represent a single interest – the financial well being of their shareholders. Representing the interests of shareholders isn’t necessarily a bad thing in itself. I do completely understand how capitalism works, but at the same time – corporate interests should not be able to buy their way into the political system.

I am glad Toronto City Council is going to consider a ban on corporate donations for the 2010 election and beyond. This won’t end the flow of corporate money into campaigns, as if one looks at the campaign returns of both David Miller and Karen Stintz as examples – you will find that these two ‘no corporate, no union donation’ types both took money from the CEOs of corporations with clear financial interests at the City level.

Obviously nothing can be done to stop CEOs from donating to campaigns, and I’m not necessarily saying a law should, but perhaps the lobbyist registry would be improved by adding a question ‘did any principle related to this project donate to the official being lobbied’ in addition to adding an ‘outcome’ section that shows whether the corporate entity lobbying got what they wanted out of government.

It wouldn’t be fair to say that those who take money from corporations are corrupt, or that those who donate are either – but the point is it builds a connection between the candidate and business interest that will factor into decision making – especially if the issue isn’t a live local issue and constituents aren’t expressing a strong position on the matter.

I honestly have less of a problem with union donations as unions represent people and their interests are clear and often debated in public anyways. They are being grouped into the ban, as they were in the federal ban on corporate and union donations brought in my Stephen Harper. Whether unions can donate isn’t a big deal for me, but I understand to a degree the desire to link them to corporate donations, even if it is only to make the whole thing ideologically neutral.

I hope that when City Council takes this up and that Councillors vote in the best interest of democracy, and not self interest. That being said, I don’t hold out hope that this is how this vote will be decided as many times these folks have voted out of self interest as it relates to election related matters where frankly they shouldn’t even be making the decision.

Tough times test corporate culture

Times are tough. The reality of our recession is that companies have to do more with less. To survive, business leaders must make agonizingly hard decisions that affect employees and jobs.

For a couple of years I have been working with our Michigan Economic Development Corp. to spread the proven truth that great corporate culture creates bottom-line results. I've been getting push-back and hearing things like “We can't logically focus on corporate culture when we're laying people off.”

I say: Now more than ever. Employees are even more aware of corporate culture in tough times. You learn who your friends, enemies, and detached bystanders are when things are tough, not when they're easy. Every company creates a culture — the values, traditions and the unspoken standards by which it operates. And tough times are the crucible times where their character shines or crumbles.

This is not just intuition. Research by Kim Cameron at the Ross School at the University of Michigan empirically established that companies that downsized with compassion and understanding — “cool” elevated to a sublime level — generated significantly greater gains when they came out of difficulty. And greatness in business, like in life, comes from the crucible. Half of the Fortune 500 companies were born not in up markets but in recessionary times. In his book Small Giants, author Bo Burlingham profiled Ann Arbor's iconic Zingerman's Deli, which was founded during the recession of the early 1980s. Zingerman's commitment to its service culture and values has almost as strong a reputation as the amazing food, so much so that they teach it to other companies.

The best companies identify what they want their ideal culture to be and define what that means and how to live it every day. In Southeast Michigan, we can look to business leaders such as Google, Valassis, Quicken Loans and Plante & Moran. Each of these companies has achieved national recognition for their commitment to their workforce.

Companies with great corporate cultures are not immune to hard times, but they make hard times easier to live through by not neglecting their values, but asking what those values demand of them in tough times.

This year's winners of the Cool Places in Tough Times award join an elite group of Southeast Michigan companies that create solid business results because of their great corporate cultures. Watch these companies that didn't duck this awards competition, because “we have had to ask for concessions or lay people off.” And their employees said: We're still cool, even in tough times.

Great business cultures are always important, but they become exponentially more important during downtimes. Companies need employees who feel valued. A culture of trust, respect and recognition generates employees who innovate, collaborate and produce strong business results.

There are already some rays of sunlight peeking through the clouds, but Michigan's recovery will take time, steely determination and a shared vision for the future. If we take this opportunity to invest in great cultures — based on trust and critical reflection, innovative action, and inclusion — we will emerge stronger than ever.

Dan Mulhern is Michigan's first gentleman, the author of Everyday Leadership and an advocate for Michigan's future and its next great companies.


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Self-Realization

Self Realization

We usually identify our existence with our position in society, our friends and family, the needs and desires of our body, and the emotional and intellectual expressions of our mind. But we rarely take the time to contemplate the real nature of our existence; to ask the question, "Who am I?"

We all have the feeling of existence; of "I exist". That "I am" feeling dictates our thoughts, our memories, our feelings and our actions. It defines who we are as individuals. It is our identity of our mind with our body and with the world around us.

If we take the time and the effort to look deeper into our "I am" feeling we would find a deeper sense of being: a deeper "self". The realization of that experience is not merely one of "I am", but the more profound experience of "I know that I am". That "I" of "I know" is the essence of our existence: pure consciousness. And the realization of that consciousness – our inner self – is called self-realization.


"Cosmic Consciousness abides in the very sense of existence,
in one's very heart's desire."

Shrii Shrii Anandamurti


Knowingly or unknowingly, we all want to attain self-realization, because only by attaining it can we attain what we really want at the core of our being: perfect peace; infinite and eternal happiness – bliss. The method of doing that is called spiritual practice and its core technique is meditation.

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Mind and Meditation

Relaxation Music, Mind and Meditation

The mind is composed of five layers. These five layers resemble the petals of a banana flower which has many layers of petals. The outer layers of the flower are harder and the inner layers are softer. So the layers of the mind are similar to the petals of the banana flower. The outer layers of the mind are harder or crude and the inner layers of the mind are softer or subtle.

In order to properly utilize the mind, we must be very clear about its resources. We must understand the mind by what it does, so that we can follow the best method to develop a particular layer of the mind. Yoga is an exact science which prescribes a systematic procedure for each human resource, therefore we must clearly know the function of each resource and apply the necessary technique.
First Layer of the Mind

The first layer of the mind performs three functions – sensing, desiring and acting. This layer of the mind is the link between the five senses and thought, between thought and the five motor organs. The five senses are eyes, ears, nose, tongue and skin. The five motor organs are the vocal chords, hands, feet, genital organs and anus. Because the five senses come in contact with the outside world, the first layer of the mind has desire. This mind then wants to fulfill its desires through the five motor organs.

If this layer of mind is not in contact with the senses, then no desire results. It is like a child sitting in the class-room thinking of his/her favorite TV program or imagining some fantastic thoughts of voyages to outer space. The teacher may be giving a lesson in math's or science, but because the child's first layer of mind is not in contact with the sensory organs, the child's senses do not see or hear the lesson. The first layer of the mind must be in contact with the senses so that an impression can be made.
Morality

Morality is the process to develop the first layer of the mind. Morality is the force which carries you to your destination. Obviously the mind must have a goal. In which direction should the eyes, ears, nose, tongue and skin move. Before moving you should decide where you are going. What is the goal of life? Why did you come to this planet? If you do not have a direction, then your energy is scattered, you achieve nothing.

Consider the effort football players exert in training to participate in league championships. Do you think they would have the same enthusiasm for the game if the goals on either side of the field were removed? All the practice of the team players with the help of experienced coaches is done to be able to score more goals than the opponent. If there are no goals, then what is the point of practicing days and weeks for competition. Even the thousands of football fans would never come to the game just to watch the players expertly kick the ball around the field for hours. It is the goal that makes the sport of life interesting and exciting.

Morality means the proper use of the sensory and motor organs. The eyes should see only those objects which bring the mind closer to the goal of life. The ears should hear only those sounds which carry the mind within reach of Infinite Happiness. The skin should only bring the mind in touch with those objects which remind us of His all pervading presence. Each and every sensory and motor organ should be utilized in relationship with the goal of Infinite Happiness, Love and Peace. The sensory organs should bring the mind closer to the Supreme Goal and the motor organs should inspire others to follow our example.
Second Layer of the Mind

The second layer of the mind thinks, remembers and experiences. Whatever has been received through the doors of the mind, the five senses, passes through the first layer to the second layer of the mind. The experience is held here for a short time to analyze all its qualities, to compare this thought with memories of the past and to enjoy its pleasure or pain. The most important quality of this layer of the mind is its capacity to hold the experience.

Everything in this universe is rhythmic. The brain gives a specific number of impulses per second, the heart beats regularly a number of times per minute and the body breathes a certain number of cycles per minute. Now a normal healthy human being breathes 16 to 18 times per minute or approximately 1 breath every 4 seconds. The pattern of breath is as follows: breathing in – pause – breathing out – pause – breathing in – pause – breathing out – pause – etc.

As you can see there are two times in the cycle of breathing when the breath stops or pauses. These two pause periods are important for different reasons. The pause with the breath in is important for lifting things. A weightlifter breathes in before lifting heavy weights during the Olympics. However when you are watching a very exciting program on the television, perhaps a fight between good and evil, while the struggle is going on, your mind is completely absorbed in the action on the screen. When the exciting scene is completed, your natural reaction will be to take a very deep breath and exhale. Why? Because of your complete concentration, the breath is automatically held in the pause with the breath out. Therefore it is important in the strengthening of concentration to consciously develop the pause with the breath out.
Pranayama

This process of breath control is called pranayama in yoga. Prana in Sanskrit language means vitality. Vitality is that quality of a thing that makes it alive, a living being. Yama in Sanskrit means control. The control of the vitality of the body is pranayama. The practice of pranayama in yoga means the control of the breath. Breath is the link with the prana, therefore the control of breath leads to the control of prana.

Since the practice of pranayama is for deeper concentration of mind in meditation and for greater power of will, pranayama must always be linked with ideation, the sentimental and intellectual meaning of mantra (an acoustic sound appropriate to the individual empowered by the Guru). Increasing psychic strength without proper psychic direction is dangerous. A car driving at high speed without the aid of the steering wheel will lead to disaster.

To understand clearly the relationship between the mind and the breath, we need a good analogy. The mind in thought behaves like a lake full of water. Every time we think a thought, the water of our mind-like lake reflects that thought. Perhaps you have seen in the cinema or television a drama where a beautiful princess is sitting by the side of the lake admiring her reflection in the water. Because there are no ripples, no waves in the water, she can see her reflection clearly. Meanwhile a mischievous boy or man, most likely the future husband of the princess, throws a stone in the water to tease the princess. When the stone enters the water, it breaks the calmness of the water destroying the reflection of the princess by creating ripples or waves.

The breath is like the stone entering the water. The mind wants to hold the reflection of the thought, but every breath breaks the reflection, disturbing the mind. If a person breathes 16 to 18 times per minute, the psychic reflection is broken every 3 to 4 seconds. In meditation our effort is to keep the flow of thought continuous without break or pause. Pranayama is taught to increase the holding power on thought by reducing the number of breaths per minute.

In Stanford University in California and at the University of Connecticut Medical College, the Ananda Marga meditators were monitored with the help of highly sophisticated machines to determine the heart rate, blood pressure, basal skin tension, breath rate, etc. during meditation. The average breath rate of all the participants was 2.2 times per minute. This means that the flow of concentration in thought was only broken every 30 seconds or more depending on the efficiency of the practitioner.

Since meditation is the process to increase the speed of the mind towards the Supreme Goal, pranayama is an essential ingredient and should be learned by every meditator from a competent teacher. However, without morality, proper direction of the mind toward the goal is unlikely. Pranayama practiced without a firm base of morality will lead to degeneration. Therefore the spiritual aspirant should be careful in the observance of morality.


Third Layer of the Mind

The third layer of mind is the storehouse, library of all experiences which the second layer of mind has ever held. Whenever anyone performs an action, the mind associates with the action in three ways:

1. The mind identifies the object, makes the object part of itself, it has a sense of ownership, control, domination.

2. The mind has the vanity that it is doing the action. The mind wants to take credit for acting. It looks around to see if others have noticed that it is acting now.

3. It wants to maintain its separateness, its individuality. It wants others to see that somehow it is different, unique. These three dimensions of the same action create a distortion in the mind, colors the mind. It is through this distortion or color that the mind views the world, communicates and makes decisions.

If the mind is filled with positive, good and noble experiences, then it sees the world as good and noble. However, if its experiences are negative, evil and degrading, then it sees the world as bad. It is because of these distortions that the spiritual aspirant cannot see beyond itself, gets entangled in life's ups and downs, heavens and hells. Some call this opportunity and accept the challenge, others call it fate and submit to it.


Sense Withdrawal

If mind is to go beyond this layer of distortion, it must withdraw its identity from these three conditions. At the time of learning meditation from a competent teacher, you will be told to withdraw your mind from the external influence of the society i.e. family, friends, professional associates, etc. during the 20 to 30 minutes of meditation. Our behavior is strongly influenced by the environment. Most people do not have the courage or strength to act according to their own inner voice. Society pushes and pulls the mind this way and that, demanding and expecting, emotionalizing and pressurizing until we are unsure whether the desires we have are our own or someone else's. Pass the examination very well, get into the science stream, go to the University, get married to this girl not that, have five children or have two, like these people, shun those people, this fashion, that fashion, etc. are all decisions demanding action, but based on external influences. So in developing the mind, one has to bring the mind temporarily away from these outside forces.

Then that mind, disassociated from external pressures and influences, is brought beyond identity with the body. Human mind is more attached to the body than its environment. It will save its life at the expense of others. Again it is more attached to the face than the foot. A scar on the foot, arm or leg does not disturb the mind, but a scar on the face needs to be hidden with clothing, cosmetics or removed by plastic surgery. The mind must be brought beyond body consciousness.

The mind is then brought to a point, a seat. The body has a seat, the mind also. The subtlest mind, the existential feeling of "I exist " has a seat. If someone asks you, "where are you?" Your reply will be, "I am here." But where is that "here" where "you" are? That point where "you" are is your mental seat. To withdraw the mind to that mental seat is called sense withdrawal.

This accelerates the process of reaction of all your previous actions, good and bad, which act as a barrier to the real experience of Infinite Happiness. The person who properly performs this technique of yoga finds the mind rapidly changing in attitude, emotion, rationality, conviction, compassion and motivation. The distortions of the mind are removed one by one. The world and its Creator are seen as they are and not as we imagined them to be. The mind is purified.


Fourth Layer of the Mind

Discrimination and non-attachment are the functions of the fourth layer. Decisions are based on the capacity of the mind to see the situation clearly, sharply and precisely. The greater the capacity of this layer of the mind to discriminate, the better the possibility for proper decisions, without fear or favor. However decisions must be acted on. Action is prejudiced by the attachments of mind and proper action depends on non-attachment.

The ship's captain may decide to sail away from the harbor into the vast sea, but if the ship is still tied, attached to the pier, the ship will not move. Those attachments, ropes tied to the pier must be cut or loosened so that the ship can reach its destination.


Concentration

Once we have decided on the Goal of life, all our physical and mental strength must be focused on it. The procedure for developing a precise mind, able to pierce through each attachment as it is confronted with the power of passionate love for the Supreme is called concentration. Concentration focuses power. The fine tuning of a sitar or the precise focusing of the camera gives the music or the picture its impact. The impact, the power of the mind gives speed to action, accelerates movement towards the Goal. As the mind moves nearer the Goal, as the iron filings move closer to the magnet, the speed of its movement increases. In that movement decisions must be made and acted out sacrificing whatever is necessary to achieve that Infinite Love. The process of concentration contains the elements which enhance this movement.


The Fifth Layer of the Mind

"I" feeling is the subtlest mind. It is the very edge of the mind. If one goes beyond "I" feeling, one's individuality, specialty and uniqueness merges in its Origin. It is because one identifies with the society, the body, the senses, the intellect, the past, the conscience or the ego that the "I" cannot experience its true essence. The "I" associates itself with so many limitations that its thirst for limitlessness is frustrated.


Meditation

The endeavor to associate the "I" feeling with its true Self by the use of acoustic sound, sentimental and intellectual meaning by the power of Guru is called meditation. Morality is the foundation, meditation is the means and the Supreme Entity is the Goal.

To make meditation effective, five fundamental elements are needed: morality, sense withdrawal, concentration, breath control and grace of Guru (Mantra). Each aspect of meditation develops the appropriate layer of mind unfolding tremendous mental strength and stamina leading to the real experience of the existence of God with an overwhelming devotion.

By the repetition of the proper acoustic vibration following the breath with sentimental understanding of the meaning, the power of the Guru (Mantra) awakens the spiritual potentiality in the mind and body and brings the "I" feeling in union (Yoga) with God. This is the meaning of Yoga and the motivation for the development of mind.

This is the systematic and scientific process for the realization of God and for the development of sacrifice in service to the suffering plants, animals and human beings of this entire universe.

Angel meditation

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Corporate Deal Maker

Moving the growth needle at Procter & Gamble Co. (NYSE:PG) isn't easy. Not only is the company an $80 billion-in-sales behemoth, but it is after all in the consumer products business. And in the developed world at least, growing sales of shampoo and diapers faster than GDP is tough. Mostly, it's just a brutal battle for share.

Yet trying to move that needle is what CEOs, especially new ones, are all about. So how do things stand for Bob McDonald, who just reported his first quarter of results as chief executive at the company?

The good news, duly applauded by investors who bid the shares up more than 4% Thursday,  was that price cuts on the company's premium brands and the addition of lower-cost alternatives stemmed the defection of recession-stricken consumers to store brands. Earnings were down a mere 1%, to $3.35 billion, on sales that fell 6%, to $19.8 billion. Both numbers were better than predicted, and the company revised its forecast for organic sales growth in the fiscal year ahead upward to the 2% to 4% range.

But even 4% is not going to make people start calling P&G a growth company, which they were doing a few years back when A.G. Lafley (who remains chairman) was teaching everyone about open innovation and coming up with new twists for old brands, like Mr. Clean's Magic Eraser.

So M&A comes quickly to mind. The Wall Street Journal ran a piece on Wednesday speculating about P&G putting nonstrategic brands like Pringles and Duracell on the block if they don't start performing better. Of course, if they're nonstrategic, why wouldn't P&G sell them anyway, as it did Folgers and so many assets under Lafley?

The Journal piece also mused about P&G's possible shopping list, which might include haircare company Alberto-Culver Co. (NYSE:ACV) or, say, the consumer products portfolio Pfizer Inc. (NYSE:PFE) got when it bought Wyeth.

Yet attractive though they may be, they are small compared with P&G. Alberto-Culver has about $1.4 billion in sales, and the Wyeth portfolio, which includes Advil and Chapstick, has about $2.7 billion in sales. And are they even for sale? As tax expert Robert Willens explains, even if Pfizer wants out of consumer products (again), it faces a big tax hit on the sale of Wyeth assets, since the deal structure means it inherits Wyeth's low basis in them.

Neither of these --o r for that matter, P&G's possible purchase of the air-care part of Sara Lee Corp.'s international household products unit -- would deliver the jolt that Lafley achieved when he paid $57 billion for the Gillette Co. in 2005.

It's no secret that P&G remains interested in buying. Back in March Lafley was talking about the opportunities he hoped the downturn would create. Big pharmas eschewed megadeals for a while, but when the growing got tough this year Pfizer (a past practitioner) and Merck & Co. (NYSE:MRK) (a new one) embraced them once again. Could P&G be ready to think on that scale again?

In a presentation to investors in September, McDonald touted P&G's growth prospects around the globe, especially in emerging markets. He said he wants a billion more customers, and that if P&G can get per capita spending on P&G products in India and China up from $1 and $3, respectively, to the $20 level P&G enjoys in Mexico, that will translate into $40 billion in sales.

It's a compelling vision, but not one to be realized overnight, as this piece in Livemint shows. It explains what  P&G will have to do to extend its reach from urban to rural India, where it hopes to add half those billion customers by 2014.

The Gillette deal, by contrast, added $10.5 billion in revenue in a hurry. When Clay Daley stepped down as P&G's CFO in January, the company said he'd be taking on one more big project before leaving: codifying the lessons learned in the successful Gillette integration. He was expected to finish in September, so McDonald has the playbook handy if he should need it. - Kenneth Klee

Candidates for Scrutiny Under Barney Frank's Corporate 'Death Panel'

At Thursday's House Financial Services Committee hearing on systemic regulation, Chairman Barney Frank, Democrat of Massachusetts, argued that it is time to stop using taxpayer funds to save firms that pose a systemic risk to the U.S. economy. Frank knows exactly how he wants to put this practice to an end:

"There will be 'death panels' set up by Congress to put these institutions out of business," he said.
Frank has not yet provided details about how the "death panel" would make its decisions, nor can we even say if such a panel will in fact be created. But, a discussion draft the committee released on Tuesday proposed creating a Financial Services Oversight Council that will evaluate companies posing a risk to the U.S. economy.

The council would have nine voting members. Based on their current positions, the membership would include Treasury Secretary Timothy Geithner, Chairman of the Federal Reserve Board Benjamin Bernanke, Comptroller of the Currency John Dugan and six others. The panel also would have two non-voting members from the state banking and insurance regulatory bodies.

The council's broad responsibilities would include the authority "to advise the Congress on financial regulation and make recommendations that will enhance the integrity, efficiency, orderliness, competitiveness, and stability of the United States financial markets; and to monitor the financial services marketplace to identify potential threats to the stability of the United States financial system."

The discussion draft also says that the identity of the companies would remain secret. Despite that intent, it might not be difficult to determine which companies would fall under federal scrutiny.

For reasons explained below, the council might consider the following entities as candidates.

First, to identify potential threats to the stability of the financial system, the council should take a look at the most recent quarterly report from Dugan's Office of the Comptroller of the Currency (OCC). U.S. commercial banks now hold more than $200 trillion in derivatives, or nearly double the level at the end of 2005. Just five commercial banks account for 97 percent of that amount in notional derivatives and 88 percent of net credit exposure.

While the OCC data do not cover the entire derivatives market, when just five banks control such a large percentage of a market, we should be concerned. In order of their credit exposure to risk-based capital, these five are Goldman Sachs, J.P. Morgan Chase, Citibank, Bank of America and Wells Fargo Bank.

The potential systemic risk to the global economy these institutions create is obvious. They have more than $8 trillion combined assets, with J.P. Morgan Chase leading the pack with $2.2 trillion and Goldman Sachs bringing up the rear with its $880 billion. A failure of any of these banks would dwarf the impact of the Lehman Brothers failure, which had assets of $600 billion when it filed for bankruptcy.

Some might consider the insurance giant AIG to be a candidate for panel scrutiny, and based on media coverage of the company over the past year, this belief would seem justified. Yet, as most people might not realize, nearly all of AIG's troubles stemmed from a small band of traders located in AIG's London-based Financial Products unit, known as AIG-FP. It would be detrimental to punish AIG's generally successful insurance business (though some elements of the insurance business also invested in toxic mortgage-backed securities) for the misdeeds of its "London casino," as then-Sen. Paul Sarbanes termed the operation during hearings last October before the House Oversight Committee.

As is widely known, AIG-FP had a monumental exposure in the credit default swaps (CDS) market, with more than $500 billion in CDS outstanding at the end of 2007. Defaults in this market ultimately caused the near-collapse of what was then the world's largest insurance company. But keep in mind that most of the $180 billion AIG received from the federal government largely went to cover the mistakes made by about 400 of AIG's 160,000 employees.

As AIG's then-chairman, Edward G. Liddy, noted in his March testimony before the House Financial Services subcommittee, AIG's Financial Products unit had more than $1.6 trillion in notional derivative exposure with 1,500 major corporations. Liddy, who had become CEO of the company in September 2008, acknowledged that AIG was "too complex, too unwieldy and too opaque for its component businesses to be managed as one company."

AIG-FP perhaps epitomizes the greed that ruled in this sector. As AIG highlighted in its 2007 annual report, "the most significant component of . . . operating expenses [in the FP unit] is compensation." From 2003 through 2007, that unit paid $2.56 billion total compensation to its employees. AIG-FP's leader, Joseph Cassano, received more than $240 million during his eight years leading the unit. After AIG-FP reported losses of around $20 billion, Cassano left the company in March 2008 with a $34 million bonus, a $1 million-a-month consulting package and use of company housing.

There's one other fact about AIG that is important to recognize. The Office of Thrift Supervision (OTS) was responsible for regulating AIG-FP, but it failed to recognize the problems associated with the derivatives. Moreover, additional regulation in the United States would not have prevented the unit from entering into this business, as other regulators also fell down on the job. Although European regulators had granted the OTS the authority to supervise its European operations, the United Kingdom's Financial Services Authority could have regulated the London office of the Financial Products unit, but didn't. The U.K.'s Serious Fraud Office is now investigating potential irregularities in that office.

Given its reckless behavior, it is time to put AIG-FP out of its misery and to allow AIG to return to its roots as an insurance company that in 2008 insured the property of 94 percent of the Fortune 500 companies and 77 percent of the Financial Times 500 companies; it had more than 30 million policyholders in the U.S. and 74 million policyholders worldwide.

Next on the list are the financial units of General Motors and Chrysler. Putting these two entities under surveillance would meet the requirement that the council "facilitate information sharing and coordination . . . regarding financial services policy development." General Motor's financial arm, GMAC, which converted into a bank so that it would be eligible to receive federal bailout funds, is about to receive a third bailout from the U.S. government. This money would raise the government's stake in the company to about 35 percent and bring its total government funding to more than $12 billion. As with AIG, GMAC's biggest problem lies in its mortgage unit, which was responsible for $1.8 billion of GMAC's $3.9 billion losses in the second quarter this year.

Chrysler Financial received a $1.5 billion loan from the federal government that it repaid in July. Although Chrysler Financial has plans to exit the business in two years, its demise is not certain and, by examining its books, the panel could learn why the exit strategy has been considered. Chrysler Financial, which is owned by the private equity firm Cerberus Capital, is reportedly winding down its operations and transferring its business to GMAC. Cerberus Capital has stakes in both GMAC and Chrysler.

Finally, the creation of the council provides a perfect opportunity to dismantle Fannie Mae and Freddie Mac. Doing so would meet the first objective of the council, which is to make "recommendations that will enhance the integrity . . . of the United States financial markets." Investors believed that these government-sponsored entities had the implicit backing of the federal government. Although that was not the case, when the federal government placed Fannie and Freddie in conservatorship in September 2008, the implicit guarantee became explicit. Both entities were regulated by Office of Federal Housing Enterprise Oversight (OFHEO), but this regulation was not sufficient to prevent them from providing low-quality subprime mortgages.

Fannie and Freddie have lost a combined $165 billion since July 2007. The federal government has already given them $96 billion to help shore up their loans. Unfortunately, home foreclosures are still rising, meaning that the agencies are likely to continue to drain funds from taxpayers.

If the federal government is considering putting any agencies out of taxpayers' misery, as Barney Frank suggested, Fannie Mae and Freddie Mac should be on top of the list.

Despite Recession, World`s Leading Corporate Innovators Increased R&D Spending in 2008, Finds New Booz & CompanyStudy

Nine in 10 Companies Cite Innovation as "Critical" to Preparing for Upturn

Corporations Are Getting Better at Killing Bad Projects
NEW YORK--(Business Wire)--
In the face of a severe global recession, the world`s 1,000 largest publicly
traded corporate research and development spenders increased spending on R&D in
2008, affirming the critical importance of innovation to their corporate
strategies, according to global management consulting firm Booz & Company`s
fifth annual analysis of global innovation spending, released today. R&D outlays
for these companies rose by 5.7 percent to US$532 billion, even as sales were up
only 6.5 percent. While the increase in 2008 R&D spend was less dramatic than
2007's gain of 10 percent, it was just slightly less than the 7.1 percent global
five-year compound annual growth rate (CAGR) for R&D. 

Overall, more than two thirds of companies maintained or increased their R&D
spending in 2008, despite more than a third (34 percent) reporting that net
income plummeted last year, according to the study. More than a quarter of
companies decreased their R&D allocation in 2008. 

Booz & Company analyzed the world`s top 1,000 public corporate research and
development spenders - the Booz & Company Global Innovation 1000 - in what
continues to be the most comprehensive effort to assess the link between R&D and
corporate performance. The study looked at R&D spending and its link to
corporate performance, uncovering insights into how organizations can get the
greatest return on their innovation investment. New to the study this year is an
in-depth survey of nearly 300 senior managers and R&D professionals from 250
companies around the globe that probes the impact of the downturn on innovation
spending and strategy. 

Key findings of the report include: 

Innovation is viewed as increasingly vital to corporate strategy. More than 90
percent of those surveyed say that innovation is critical as their companies
prepare for the upturn, and fully 70 percent of respondents state their
companies are either maintaining or increasing their spending on R&D in 2009,
according to Booz & Company. Furthermore, the top 100 companies in the
Innovation 1000 clearly signaled their investment priorities by increasing R&D
spending by 3.2 percent while reducing overall capital expenditures by one
percent. 

"Reducing efforts on innovation would be similar to unilateral disarmament in
wartime," said Barry Jaruzelski, Partner at Booz & Company. "Now is an opportune
time to build advantage over competitors, especially weaker ones that may have
to skimp on R&D for financial reasons. Overall, the study demonstrates an
optimistic outlook on the part of the companies in the Innovation 1000." 

Companies are spending more, but more wisely. "One result of the recession is
that it has forced companies to think more carefully about their innovation
processes and portfolios - for both good times as well as bad," observed Kevin
Dehoff, a Booz & Company Partner. "This held true through the most turbulent
quarters these companies have navigated, indicating they`re ready to make smart
bets that will pay dividends in the coming upturn." Accordingly, the survey of
senior managers and R&D directors reveals that seven in 10 companies are now
adjusting their strategies to better capture changing customer requirements.
Nearly half of the respondents report becoming more risk averse in their
approach to innovation, changing the filters they apply when green lighting new
R&D projects. More than 40 percent said their companies are focusing on process
improvements to change R&D spend during the downturn, and a similar number say
they`re getting better at killing bad projects, as well as focusing more on
newer products that have the potential to grow faster. 

The top 20 innovation spenders increased their budgets by just 3.2 percent. This
gain is less than one-third the 10.7 percent rise in 2007 and was the result of
a precipitous 35 percent drop in net income among the 20 companies, which fell
from $115 billion in 2007 to just $75 billion in 2008. Still, the top 20
spenders accounted for 26 percent of spending by the entire Innovation 1000. 

Recession`s impacts on R&D vary widely by industry. In 2008, as last year,
two-thirds of R&D spending was concentrated in three industries: computing and
electronics (28 percent), health (23 percent), and automotive (16 percent).

* No industry felt the pain more than auto with nine out of the top 10 R&D
spenders in the category cutting their innovation outlays in 2008. Overall, 60
percent of auto companies in the Global Innovation 1000 decreased R&D spending,
compared with 25 percent who decreased R&D last year. Yet the remaining 40
percent of auto companies on the list increased spending enough that the auto
sector on a net basis slightly increased R&D spending overall by 0.6 percent. 
* The Software and Internet sector, on the other hand, clearly has seen the
recession as an opportunity. Eight out of the industry`s top 10 R&D spenders
increased their R&D spending last year. 
* R&D spending in the computing and electronics industry was up more than 4
percent, though the proportion of companies that increased R&D spending was
essentially unchanged from last year. 
* Healthcare companies spent the most on R&D as a percentage of sales -- 12
percent -- followed by Software and Internet (11.4 percent). In contrast
Telecom, and Chemicals and Energy, spent the least, 1.4 percent and 0.9 percent,
respectively. 
* Aerospace and Defense was the only industry to see innovation spending sink,
down 2.3 percent.

Every global region increased its spending. North American, European, and
Japan-based companies retained their 94 percent share of the global 1000
innovation spend. Every region, including China and India, increased its
expenditures, though they did so at slower rates. Japan upped its allocations by
just 0.5 percent, Europe by 6.3 percent and North America, 6.5 percent. These
levels were below the global five-year CAGR of 7.2 percent. 

Additional study findings include:

* The top 10 global R&D spenders in 2008 were, in descending order: Toyota,
Nokia, Roche Holding, Microsoft, General Motors, Pfizer, Johnson & Johnson,
Ford, Novartis and sanofi-Aventis. 
* R&D spending among the Global Innovation 1000 ranged from just under $9
billion spent by #1 Toyota to the $58 million spent by #1000 Laird PLC, a
London-based maker of electronics equipment, a wide range that explains why the
top 100 companies account for fully 62 percent of the total R&D spend of the
Innovation 1000. 
* Sales of the Global Innovation 1000 grew 6.5 percent to $15 trillion in 2008,
a significantly smaller increase than the 10 percent increase this group
registered in 2007, and R&D spending as a percentage of sales remained the same
as the previous year, 3.6 percent. 
* North American-headquartered companies on this year`s list spent 4.6 percent
of sales on R&D, a slight decrease compared with 2007, while
Japanese-headquartered companies spent 3.7 percent of sales, significantly up
from last year, and European-headquartered companies spent 3.2 percent, a
decrease from the prior year. 
* Booz & Company estimates that the Global Innovation 1000 accounts for 81
percent of 2008 total global corporate R&D spending of $660 billion.

Booz & Company Global Innovation 1000:Study Methodology

Booz & Company identified the 1,000 public companies around the world that spent
the most on research and development in 2008 (companies for which public data on
R&D spending was available). 

Booz & Company analyzed key financial metrics for each of the top 1,000
companies for 2001 through 2008 - sales, gross profit, operating profit, net
profit, R&D expenditures, and market capitalization. All expenditure figures
were translated into U.S. dollars according to the average exchange rate for the
year. In addition, total shareholder return was gathered and adjusted for each
company`s corresponding local market total shareholder return. 

Each company was coded into one of 10 industry sectors (or "other") according to
Bloomberg`s industry designations, and into one of five regional designations
according to reported headquarters locations for each company. To enable
meaningful comparisons across industries on R&D spending levels, Booz & Company
indexed the R&D spending level and financial performance metrics for each
company against the median R&D spending level for that industry. 

Booz & Company also conducted a web-based survey of over 300 senior managers and
R&D professionals from 250 different companies around the globe in order to
better understand the recession`s impact on R&D spending and strategy. The
companies participating represented more than $230 billion in R&D spending, or
44 percent of the total Innovation 1000 R&D spending for 2008. Respondents came
from all 10 industry sectors; geographically, 49 percent came from North
America, 38 percent from Europe, 13 percent from Asia, and less than 1 percent
from the rest of the world. 

The Global Innovation 1000 study is available online at
http://www.booz.com/media/uploads/Innovation_1000-2009.pdf

About Booz & Company

Booz & Company is a leading global management consulting firm, helping the
world`s top businesses, governments, and organizations. 

Our founder, Edwin Booz, defined the profession when he established the first
management consulting firm in 1914. 

Today, with more than 3,300 people in 58 offices around the world, we bring
foresight and knowledge, deep functional expertise, and a practical approach to
building capabilities and delivering real impact. We work closely with our
clients to create and deliver essential advantage. 

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5 Steps to Sustaining Success After Stumbling Into it

Entrepreneurs always dream their business will skyrocket to success. Yet, when it happens, the experience is often bittersweet. 

It's a period of highs and lows, elation and exhaustion—with little time for reflection. And if you weren't prepared to run a business, but seized an unexpected opportunity, sudden success can quickly lead to overwhelm. The time to prepare is now. Here's how.

No. 1: Build the right team. 

related links

• Don't Make These Mistakes of Accidental Entrepreneurs

Don't stretch yourself too thin trying to handle every aspect of your business. At some point, you need to let go of at least some control to grow the company. Set aside time to assess your strengths and weaknesses, then hire people who have skills you don't. 

"You need to scale the team as the business scales," said Jon Burgstone, founding faculty chair and adjunct professor at UC Berkeley's Center for Entrepreneurship & Technology. "You can bring on a partner or employees that complement you. Bring someone you trust into the business, then you can divide and conquer."

No. 2: Search for mentors. 

You'll want to find role models who have been there, done that—so you can reach out for advice to business challenges. 

"Any entrepreneurial venture is a roller coaster," Burgstone said. "Assemble your own personal board of advisors, a group of mentors who you can rely on for very technical information, business advice and emotional support. You'll need it." 

Entrepreneurs often fall prey to many of the same pitfalls. The right mentors can help you sidestep those business minefields — and avoid a lot of unnecessary angst. 

"Look for mentors who have been in your [type of] business, and been through something very similar," said Susan Urquhart-Brown, author of "The Accidental Entrepreneur: 50 Things I Wish Someone Had Told Me About Starting a Business." 

No. 3: Monitor cash flow. 

Don't be lulled into a false sense of financial security. Keep a close eye on cash flow, which is a measure of your company's health. 

"When money is coming in, entrepreneurs are often not so busy watching expenses or unexpected expenses," said Urquhart-Brown, also a small business coach in Oakland, Calif. 

Remember, it's just as important to track what you're spending as what you're earning. 

"You might be selling a lot of product, but you still need to pay your suppliers and purchase inventory," Burgstone said. 

Bring in trusted financial advisors, and review the numbers on a consistent basis.

No. 4: Silence your inner critic. 

Accidental entrepreneurs are especially prone to persistent self-criticism, said Urquhart-Brown. Maybe you have a great business idea, but don't have the same experience or education as other business owners. That's when, she said, your inner critic can emerge, serving up doubting thoughts like: I don't know if I can do this. I'm flying by the seat of my pants. I don't want people to know what I don't know. 

And so it goes.

"Your inner critic feeds into the feeling of overwhelm," Urquhart-Brown said. 

Even if you do everything right in your entrepreneurial venture, you'll face challenges along the way. It's how you handle them that matters most. 

"When you are the company, every success and every failure feels intensely personal," Burgstone said. "It can be very emotionally tumultuous. You need to build a good personal support system to help you through those highs and lows." 

Turn to family members and trusted loved ones to help you keep your business, and your life, in perspective.

No. 5: Breathe. 

Working around the clock with no break in sight, can lead straight to burnout. At some point, you have to force yourself to step away from the stressful environment to regroup and recharge. 

"Every week, carve out a chunk of time and don't allow yourself to think about the business," Burgstone said. "Find ways to serve others. It will help you take your mind off of what you're worrying about." 

And commit to checking in with yourself at different periods throughout each year — to reflect on where you are and where you want to be. 

"Ask yourself what life do you want to be leading," Burgstone said. "Those business successes, are they contributing to or detracting from your life? If they're detracting, see what adjustments you can make to the life you want to live." 

Shifting your focus to family and other loved ones also helps keep life in perspective. 

"Connect with them," Burgstone said, "and stay deeply connected through this crazy roller-coaster ride."

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Don't Make These Mistakes of Accidental Entrepreneurs

Owning a business is no small feat. The managerial maneuvering alone can often be daunting to even the most-seasoned entrepreneur. The challenges are even greater for those who stumble into a business with no experience, training or background in running a company.

Here are the stories of two such “accidental” entrepreneurs who learned some valuable lessons the hard way. Take their advice and save yourself from some unnecessary headaches and potential business breakers.

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What Makes a State Sexy to Eager Entrepreneurs?

Apparently business owners don’t have a one-track mind when it comes to location, location and location.

According to some economists, what a state demands a business pay in taxes ranks far down its priority list of attractive qualities. Business owners, they say, look at the whole package when choosing where to locate, taking into account quality of life, school systems, public safety and other services that said taxes end up paying for. If low taxes were the only thing that mattered, economists contend, we’d see mass migration to southeastern states, where it’s dirt cheap to start up a business.

“One could argue that the more traditionally high-tax communities like Massachusetts, New York, Wisconsin, do a much better job at attracting and retaining small firms” than those states with lower taxes, explained Rutgers University finance and social policy Professor Henry A. Coleman, who has also served as senior economist in the Office of the Chief Economist at the U.S. General Accounting Office. “What are you getting for the taxes that you pay? I think businesses are a lot more sophisticated than some of the simple thinking associated” with taxes.

There are other less-obvious, tax-related measures that come into play, as well.

For example, does a state allow a business to file as a business, or pay taxes through the personal-income tax? And does it offer small businesses the option of carrying over losses from one operating period to the next?

“We need to be mindful and flexible in looking at the total picture of all of those factors that influence those locational decisions. Are there any businesses that leave because those taxes are high? Sure,” but “I just can’t believe that taxes are the pivotal issue because otherwise, they would all be leaving for Louisiana and Mississippi,” said Coleman, who has also served as executive director of the New Jersey State and Local Expenditure and Revenue Policy Commission.

“If you look around the country, many of the states, say in the southeast ... have legendary low tax rates but not all big companies and certainly not all small companies move to those states,” he said.

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Woman Accused of Offering Sex for World Series Tickets on Craigslist

A Philadelphia woman was arrested Tuesday after she allegedly posted an ad on Craigslist offering to perform sex acts in exchange for World Series tickets, MyFoxPhilly reported.

Susan Finkelstein, 43, was charged with prostitution and related offenses after police say she advertised herself as a buxom, blond, die-hard Phillies fan who was desperately seeking World Series tickets and would have sex to get them.

"I'm the creative type! Maybe we can help each other," authorities say Finkelstein's online ad read. She described herself as "gorgeous" and said her price was negotiable, according to police.

Finkelstein was busted when, authorities say, an undercover officer responded to the Craigslist posting. She allegedly offered to perform sex acts on the officer in exchange for the coveted tickets of the baseball championship between the Philadelphia Phillies and the New York Yankees.

Police in Bucks County say a woman faces prostitution charges after posting an online ad seeking World Series tickets.

Bensalem Township police said they made contact with the female after viewing her add on Craigslist.com. The woman then allegedly solicited an undercover police officer to perform various sex acts in exchange for the tickets.

Charged with soliciting prostitution and related offenses was 43-year-old Susan Finkelstein, of the 900 block of St. Bernard Street in Philadelphia.

According to police, her online ad read: "DESPERATE BLONDE NEEDS WS TIX (Philadelphia) Diehard Phillies fan--gorgeous tall buxom blonde-- in desperate need of two World Series Tickets. Price negotiable--- I'm the creative type! Maybe we can help each other!"

"Her and her husband were looking for a chance to go to the World Series and she wound up in handcuffs," says Finkelstein's attorney Bill Brennan.

Brennan says the wording on his client’s online ad does not depict her as a woman looking for a sexual encounter. He says she’s misunderstood.

"You have a die-hard Phillies fan that uses a colloquial phrase and says 'I'll do anything for tickets!' and she's arrested. It's beyond the pale," believes Brennan. "For the life of me, can't figure out how there's criminal activity here."

On Finkelstein's Facebook page, she says she dreams of being "a Phillies groupie" and her attorney says her dream of going to the World Series is still alive, reported Fox 29’s Sean Tobin.

"She hopes so! She's looking for a couple of tickets, if anyone has a few," says Brennan.

Finkelstein has a preliminary court hearing scheduled for December 3.

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Anaheim substitute teacher arrested for allegedly having sex with student

An Anaheim substitute teacher has been arrested on charges of having sex with an underage student, police said today.

Marc Silberman, 27, was arrested Saturday night after a Savanna High School student told police that she had sexual contact with Silberman two days earlier, according to the Anaheim Police Department.

The girl told investigators that she had met Silberman when he was teaching at the high school, police said. Police declined to release the girl's age.

Silberman, an Anaheim resident, was booked on charges of sexual penetration with a foreign object and child annoyance, police said.

Anyone with information is asked to call investigators at (714) 765-1623.

-- Robert J. Lopez

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Female CEOs' pay fell more than men's: survey

NEW YORK (Reuters) - Female chief executives earned just 58 percent of what their male counterparts did in 2008, and their compensation packages were slashed three times as much as their male peers, according to a survey released on Monday.

Corporate governance research firm the Corporate Library said total realized compensation -- which includes base salary, bonuses, perquisites, benefits, and the value realized on the exercise of options and vesting of other equity -- fell by a median of 18.5 percent in 2008 for female CEOs.

In the same period, the compensation of male CEOs fell 6.1 percent, the survey revealed.

Top female chief executives' median base salary was $40,000 higher than that for male CEOs, but men's' discretionary bonuses were more than 3.5 times larger than those given to females, and men's perquisite payments were nearly twice the amount received by women, the survey said.

Female CEOs earned on average 58 percent of what males earned in realized compensation, the Corporate Library said.

United Therapeutics Corp's Martine Rothblatt was the only female CEO among the top 150 earners of 2008, with total compensation worth $21.8 million.

Among female CEOs, Rothblatt was followed by Avon Products Inc's Andrea Jung, with $13.9 million in total realized compensation, and TJX Companies Inc's Carol Meyrowitz, with $12.8 million.

The survey was based on compensation data of 2,703 U.S. listed companies. Women CEOs accounted for only 3 percent of the total, the Corporate Library wrote in the report.

The survey also found that women are more likely to serve as CEOs at smaller companies.