Monday, January 30, 2012

The Stupid Things You Do Online (and How to Fix Them)


The Stupid Things You Do Online (and How to Fix Them)The internet can bring you a lot of joy, but it can also turn into a world of pain the moment you make one stupid mistake. Perhaps you've been feeding the trolls, using "password" as your password, or selling your soul for access to a "free" web app. Your dumb mistakes can come back to bite you in the ass if you aren't careful. Here's how you can save yourself from yourself online.

Title image remixed from an original by Konstantin Maslak (Shutterstock).

Stupid Thing #1: You Undervalue Your Personal Data

The Stupid Things You Do Online (and How to Fix Them)Most of the web has the appearance of being free, but when you sign up for Google services or a Facebook account you're potentially handing over a much more valuable commodity: your personal information. Companies want this information because it can be used to target more relevant ads to you. The more relevant the ads, the more likely you're going to buy. Although advertisements aren't necessarily all bad, because it's often preferable to see ads for things we actually want, it can be a little disconcerting and embarrassing when you do a search for herpes treatments and see nothing but Valtrex ads for a week. You shouldn't stop using the services you love just because they have a hidden cost, but it's important to understand that free services aren't really free. You are paying with your right to privacy, and that can feel a little invasive.

Fortunately, you can have your cake and eat it too. If you don't like targeted ads based on your search history, you can just utilize your browser's Do Not Track options (read this to learn how to enable them). Facebook now offers lots of ways to set the level of privacy you want to maintain, which is great, but with all the options it can be tough to learn and get just the way you want. Our always up-to-date guide to managing your Facebook privacy can get you up to speed. One of the first things you should do with Facebook is prevent apps from using your personal data as much as possible. Signing up for an app can provide the developers with much more information than you may realize as the apps will take information they don't necessarily need. To find out what each app is doing and limit its reach, just click the downward-facing triangle in the upper-right hand corner of your Facebook page and choose "Account Settings." From there click the Apps tab and click the "Edit" link next to any app. You'll see a list of what it is allowed to do plus the information it can access. Some stuff will be required for the app to function, but you'll almost always find something that isn't. Click the "Remove" link to revoke the app's permission to access that information.

Stupid Thing #2: You Submit Sensitive Information Over an Insecure Connection

The Stupid Things You Do Online (and How to Fix Them)When you submit sensitive information—like, say, your credit card number or login credentials—over an insecure connection, it's not necessarily your fault. Web sites worth their salt need to use HTTPS, rather than HTTP, in order to transfer data securely between your computer and their servers. That said, you have to be diligent and look for https:// in the URL bar in your browser (see the image to the right for an example). If you don't see this, chances are you're just using standard HTTP.

This isn't a big deal if you're just reading or watching something, but if you don't see https:// you should avoid sending sensitive information like your credit card number or address. If you'd like to know more about HTTPS, read our guide. Also, the insecurity of HTTP isn't as big of a deal when you're on your password-protected home network, but when you're on a public Wi-Fi connection, anyone can snoop on what you're doing.

Stupid Thing #3: You Feed the Trolls

The Stupid Things You Do Online (and How to Fix Them)When you feed the trolls—that is, the moment when you engage a malicious idiot in their hateful, annoying, and pointless discourse—you do everyone a disservice. You not only involve yourself in an almost endless, useless, and anger-filled debate, but you pollute the internet with hateful threads of garbage along with the trolls who start them. The internet is never going to vomit rainbows (at least not all of the time), but we can attempt to create happier, more pleasant communities by avoiding unwarranted fights and flame wars. Unfortunately, it's tough for a lot of people to get past a statement that incites anger but there are a few things that can help.

First, it's important to remember that trolls are not attacking you—they're attacking boredom. They have nothing better to do than say something mean so that's how they've unfortunately chosen to spend their time. If what they're saying isn't going to have much of an impact on anyone, just remember that they're bored, loathsome people and let it go. On the other hand, if they're promoting hate speech and potentially causing harm to others, it's best to avoid engaging them and instead report them to the site's administrator. Many sites offer a means of flagging harmful posts, and commenting systems offer ways for an administrator to ban problematic users. A simple email is often sufficient to take care of a bad person. Engaging with a troll-ish thread is just going to make you angry and potentially get you in trouble, too. If you do fall into the trap of feeding a troll, however, using the principles of cognitive therapy can be a worthy solution. This means responding positively and calmly, while accepting their different opinion. The trolls will likely find it frustrating and even condescending, but it's hard to argue with someone who is accepting your point of view (or even agreeing with you).

For more tips on de-trolling your internet, read this.

Stupid Thing #4: You Leave Private Information in Your Web Browser

The Stupid Things You Do Online (and How to Fix Them)Nowadays we spend a lot of time in our web browser and that makes it a potential source for embarrassing personal information. If you keep yourself logged into accounts on your computer, anyone casually borrowing your browser for a quick search can stumble onto some pretty personal stuff without even trying. For anyone actually interested in snooping, your web browsing history is a prime target. Even a visit to Amazon can dig up weird products you looked at or even bought.

Keeping your browser activity private can be a lot of work, but there are a couple of things you can do to take the pain out of it. First of all, if you're doing anything particularly private on your computer you can just log out or lock people out with a password. Enabling a guest account can be very useful so when anyone wants to use your computer they won't be entrenched in your embarrassing web activity. If you don't want to password-protect anything, the next best thing you can do is just quit your browser whenever you're done using it and set it to clear your history when you do. On top of that, make sure you log yourself out of any accounts or your browser handles that for you. For the super paranoid, clear your cookies as well. One of our favorite tools for the job is CCleaner (the first 'C' stands for Crap), available for Windows and Mac.

CCleaner will give you a good start, but the fact of the matter is that a determined snoop has a ton of ways to spy on your browsing behavior. To subvert even the most clever snoop, check out our guide to really browsing the web without leaving a trace. For more tips and tricks, read how to protect your privacy when others have access to your computer.

Stupid Thing #5: You Don't Keep a Backup of Online Data

The Stupid Things You Do Online (and How to Fix Them)You know backing up your computer is important because it's been hammered into your head by us and virtually everyone who knows a thing or two about computers, but somehow we tend to ignore the importance of online backup. Web services go offline all the time. Most recently, MegaUpload was seized by the U.S. government and now many people have lost their uploaded files. They may be filing a lawsuit to regain access, but the reality is they no longer have their data. You never know what's going to happen to your data, especially when it's out of your possession, so always keep at least one backup.

Some data, like photos and videos, can simply remain backed up on a local hard drive. If you lose your content online, you can always access a local copy and upload it elsewhere. That's all well and good if you create your content locally on your computer, but there is plenty you create online as well and that data is only saved on the server. In the case of Facebook, you can simply download all of your data in one big chunk. All you have to do is go into your account settings and look for the "Download a copy of your Facebook data" link at the bottom of the page. Not all web apps allow a full data download like Facebook, however, and you'll need to employ other services. InSync will handle your Google Docs. Backupify can back up multiple web services like Google Apps, Twitter, Facebook, and more. If you keep any vital data online, be sure you use something to back it up. If you don't, it could be gone tomorrow with no way to get it back.

Stupid Thing #6: Assuming Your Posts and Comments Are Anonymous

The Stupid Things You Do Online (and How to Fix Them)What you say online is going to be around for a long time, and when you do as much as post a comment on a popular site it's likely going to surface when someone does a web search for your name. I've commented on an article maybe three or four times in my life (prior to working at Lifehacker) and this Steve Ballmer hate rant has managed to stick to my name since the day I was apparently so offended (which was over seven years ago).

It's not that it's impossible to comment anonymously online—and we've offered some tips for doing just that—but most of us don't follow a strict enough set of rules to remain anonymous. Even if you don't use your real name, comments stick. You'll probably use that pseudonym down the line and it will gain its own reputation. Your name may be tied to that pseudonym on as little as one web site and people will be able to find out who you are with a simple search. Additionally, you may post a comment on a blog or other page without realizing that you're already logged in via your Facebook account. There are a lot of ways your name can be tied to what you say online, so it's important to remember that your reputation is riding on every post to some extent. Remember to think about what you're going to say before you say it or it may follow you around for much longer than you expect.

Stupid Thing #7: You Let People Track Your Whereabouts

The Stupid Things You Do Online (and How to Fix Them)Checking in to sites like Foursquare, Gowalla, and Facebook is all fun and games until somebody loses an eye—or, well, any personal belongings that a thief can snatch while s/he knows you're out of the house. A web app called Please Rob Me demonstrates (with humor) how your check-ins can provide too much information regarding your whereabouts when you share publicly. All you really have to do to solve this problems is share privately. Most check-in sites have this option. Follow these instructions for Foursquare, simply become a private user on Gowalla, and if you're using Facebook you can just tag yourself at a location after the fact so your location isn't disclosed in real-time. That's really all there is to it. Be careful who you share your location with and you've fixed the potential damage.

Stupid Thing #8: You Use an Insecure Password That You Rarely (or Never) Change

The Stupid Things You Do Online (and How to Fix Them)If you read Lifehacker with any regularity you know we love a good, strong password. That said, most people seem pretty reluctant to let go of their simple passwords in favor of something more complex. But you can have strong yet memorable passwords or just use a multiword phrase to decrease the chances of anyone ever hacking your password. Or better, yet, you can let a password manager like LastPass pick and remember your complex password for you. But anyone who's using a weak password at this point is likely doing it because they don't want to bother changing every password for every online service they've ever used. While that's understandable, you really just have to get off your butt and take care of it. Using a service like LastPass is a good option because it can save your existing passwords and automatically detect updates when your passwords change. This way you can change them at your leisure, whenever you log into a site with an old password, and make sure everything is still up-to-date and remembered by a password manager. (Consult this infographic for a condensed look at nearly every tip and method we've posted.)


Nigeria’s Oil and gas probe programmed to fail – ACN | P.M. NEWS Nigeria



Nigeria's Oil and gas probe programmed to fail – ACN  

Published on January 30, 2012 by   

The Action Congress of Nigeria (ACN) has said the federal government-ordered audit of all government institutions in the oil and gas sector, as well as the solid minerals resources sector, is programmed to fail because the government's decision to oversee the probe is akin to a man being a judge in his own case.

In a statement issued in Lagos on Monday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said the principle of fairness and the doctrine of separation of powers meant that any probe of institutions under the executive arm of government should be carried out by the
National Assembly, in line with its oversight functions.

"It is therefore the National Assembly, rather than the executive, that should probe this revenue generating agencies in the oil and gas industry, as well as in the solid minerals sector,
and we call on the National Assembly to be alive to its responsibilities," it said.

ACN said while the party does not intend to cast aspersion on any person or organization, "we are constrained to raise issues concerning the two audit firms that have been named by the federal government to carry out the audit (Sada, Idris & Co for oil and gas, and Haruna, Yahaya & Co for solid minerals). What antecedents prepare them for such a massive task? And what similar audit have they successfully carried out that will give Nigerians the assurance that they will carry out an independent and credible audit this time."

The party also called for the immediate implementation of the recommendations contained in the audit of the NNPC by KPMG, at least to convince Nigerians that the outcome of the new audit on the oil and gas sector as well as the solid minerals sector will not be ignored.

Meanwhile ACN has criticized federal government officials who have continued to sing discordant tunes and misinform Nigerians on the entire fuel subsidy scam, in order – it seems – to justify its desperate act of forcing the citizenry to pay for the waste and fraud of a few fat cats in the oil industry.

"The revelations at the ongoing fuel subsidy probe by the House of Representatives have been shocking, to say the least. For example, While the Petroleum Resources Minister put Nigeria's
daily fuel consumption at 52 million litres, NNPC said it is 35 million, Finance Minister said it is 40 million while DPR put it at 43 million.

"The same inconsistency was noted on the issue of fuel subsidy. The Petroleum Resources Minister put the figure at 1.4 trillion naira; Finance Minister put it at 1.3 trillion naira while the CBN
said it is 1.7 trillion naira. Different figures were also given for the current production capacity of the local refineries by the NNPC (30%); PPPRA (20%), DPR (13%) and Petroleum Resources Minister (15%).

"How then can a government that does not have accurate basic facts about the oil industry and fuel subsidy determine the cost of a litre of petrol, diesel or kerosene? How can it determine the level of subsidy when it does not even know how much is being spent on the so-called subsidy? These revelations have confirmed what our party and other patriotic Nigerians have been saying all along, that the government is making Nigerians to pay for the inefficiency and corruption in the downstream oil sector and that there is indeed no subsidy," ACN said.

Posted by 4 hours ago on January 30, 2012, 4:21 pm. Filed under Business, Business News, Oil and Gas

General Ibrahim Babangida And The ‘’Doctrine of Settled Issues’’ —Femi Fani-Kayode




General Ibrahim Babangida And The ''Doctrine of Settled Issues'' —Femi Fani-Kayode  

Published on January 30, 2012 by  

"I can go back to fight a war to keep this country together even at 71…..some people are saying that should anything happen to President Jonathan, forget about Nigeria and so on. I know those who are saying this. Yes, they are supporters of the President. But I know the President is a sensible person so don't waste your time saying that the world would come to an end if something happens to your son. Of course he is your son but he is our President. I have always respected these people but these things that they say amaze me. These are the same people that went to school, people who went to universities, people that are educated and people who have held positions of responsibility. There is a doctrine known as the "Doctrine of Nigeria's Settled Issues" and nobody should attempt to tamper with them. Number one, I don't want anyone of us to tamper with anything to do with Nigerian unity. Number two, the republican constitution is also a settled issue, more or less. Number three, the states are the federating units of this country and number four we are a capitalist country. Anybody that wants to talk about this country must make sure that he doesn't do anything that will disrupt these basic settled issues in our political life. Anyone that is talking about dismembering this country you should not listen to him. If we see such things as "christian south" and "muslim north" we should disregard it. Even if such people say it the media should ignore it because you know it is not the truth, so you should not even write it"- GENERAL IBRAHIM BABANGIDA, The Daily Trust Annual Dialogue, Abuja, 26th January 2012.

I have nothing but the deepest respect and affection for General Ibrahim Babangida and those that know me can attest to this. He is not only a great and profoundly good man that has sacrificed so much for our nation but he is also one of the very few truly detribalised leaders who genuinely and honestly loves Nigeria and who passionately believes that the interest of every Nigerian is better served if our country remains as one. I do not for one minute doubt General Babangida's sincerity of purpose or his deep sense of partiotism. Anyone that can take a bullet to keep Nigeria one must always be given his due respect and honour. Yet despite my personal feelings and affection for the general I am afraid that, from an intellectual and political perspective, I have to respectfully and humbly disagree with him on this issue. I do not believe that there is any such thing as a "Doctrine of Settled Issues" in our body politic and neither, in my view, is Nigeria as we know it today a sacrosanct, unbreakable or unchangeable union. It is trite that the only thing that is certain in the life of men and nations is change. Whether we like it or not change is like an irresistable tide and, when it's time comes, it is like a moving train and a raging wind which crushes or blows away anyone or anything that stands in its way.

You either bend with it or you break. I am a student of history and it may interest those that subscribe to this rather arcane and anachronistic theory known as the "Doctrine Of Settled Issues" to know that Nigeria remains the only mega-nation and forced union of incompatibles that the British colonial masters cobbled together at the beginning of the 20th century that still remains together today. There were actually three in all and the other two, namely the Sudan and India, have broken into two and three pieces respectively over the years. Why should Nigeria be any different? More importantly why should we be told that Nigeria MUST be different? Would this have been so if there was oil in the north?

Again when one considers the delightful and miraculous "crumbling" of the almighty Soviet Union (another forced artificial union) or the breaking up of the old Yugoslavia and the emancipation and creation of numerous new countries in the Balkans and eastern Europe which came as a consequence of that magnificent change, I ask again, why should Nigeria be any different? The words of the Iron Lady Margaret Thatcher are instructive here. In the September 2, 1991 edition of Newsweek she said, "the lesson of this century is that countries put together artificially will fall apart. National identities will not be suppressed". Twenty years after these famous words were spoken we are beginning to witness their relevance and veracity in Nigeria. The right to self-determination and to forcefully resist what many feel is an internal colonial system is a legitimate and inalienable right of all free men and women. You cannot hold me down and keep me in your house on your own terms and deny me the right to be free or to say or do as I please. If you do not treat me fairly and if you continue to make me feel worthless and full of fear of your terror and ability to inflict violence on me and mine, then eventually, whether you like it or not, I will leave. No one signed their life or their future away to bondage and none of us subscribed to the view that decisions about our country and our furure can and have been made by our past leaders and heroes and that they can no longer be changed or altered. I say that they can if the circumstances determine that this must be so. And if you do not give us our rights eventually we will exercise them by force and regardless of how you feel.

As much as I am amongst those that have criticised the Goodluck Jonathan administration forcefully, objectively and vigorously over some of their policies in the last few months let me make two things clear. Firstly my criticisms are borne out of my concern for our country and nothing else. I have nothing against Mr. President personally other than the fact that by not getting it right he is playing into the hands of the "born to rule" northern cabal who believe that he does not have a right to be President simply because he is an Ijaw man. The overwhelming majority of the Hausa- Hulani intelligentsia and elite do NOT belong to this cabal and are indeed decent, law-abiding, rational and patriotic Nigerians. However there is a small, powerful and strategically-placed cabal that do espouse this Hitlerite philosophy and do believe that no southerner should have the right to rule in peace without being told what to do and without being teleguided and controlled by them. This small but strategically-placed group have sworn to make the country ungovernable for Jonathan and we are now seeing the results of that threat. For the record let us just warn these ethnic supremacists that they must not misconstrue the position that some of us have taken when it comes to this government and its policies as an endorsement of their deeply conspiratorial and despicable ethnic agenda. I should also add that Jonathan must not die under any mysterious circumstances. If this were to happen there would be no Nigeria left afterwards and by the time it is all over they will know that it is only when you kill a madman that you will know that he has friends and family. The new Nigeria has no place and no room for those that believe in the "born to rule" philosophy or those that subscribe to any form of Boko Harm or Taliban-style islamic fundamentalism. We will not tolerate it, we will not bow to it and we will resist it with every fibre of our being.

I have said it before and I will say it again- if Nigeria is not a place that every ethnic nationality is regarded as being equal and is treated as such then let there be no more Nigeria. There is nothing that is sacrosanct about a forced union of incompatibles. If you are in a bad marriage you get out of it before you kill each other. The Lugardian "poor husband of the north" cannot force the "rich wife of the south" to remain in this unholy and iniquitous union for much longer unless the terms are right and unless there is equity and justice for all. The mistake we made in 1967 by not standing on Aburi will not be repeated. The days of the master/servant relationship that we have witnessed between the north and the south for 51 years of our national existence are long over and they shall never return again. This country is moving forward and she is not going back and if Presdent Goodluck Jonathan can just get his act together and vigorously resist the hegemonist giants in the land he would have my full support and that of millions of others. This is the time for a new vision for our country. It is the time for new leaders who are ready to stand up and speak the truth about our precarious state of affairs and about the direction in which our nation must go. It is the time to talk about the convening of a Sovereign National Conference and to answer the Nationality Question. It is the time for courage. Let us not take our unity for granted or treat it as "a given". Nigeria must change, she must be restructured, she must be reformed and she must make every single "Nigerian" believe that he or she can get to the top regardless of their nationality or faith.

On a final note permit me to point out the fact that it does not help when you have a northern Governor of Central Bank who seeks to create a subtle but clear intellectual justification for the existence and activities of Boko Haram by telling the Financial Times of London that "there is clearly a direct link between the very uneven nature of distribution of resources and the rising level of violence. When you look at the figures and you look at the size of the population of the north you can see that there is a structural imbalance of enormous proportions. Those states simply do not have enough money to meet their basic needs whilst some states have too much money". The subliminal message and signals are clear to the discerning. Yet it does not stop there. Thisday newspaper (28th Jan. 2012) reported that that same individual said that "attempts to redress historic grievances in Nigeria's oil-rich south may inadvertantly have helped create the conditions for the islamic insurgency spreading from the impoverished north-eastern region of the country". I am astounded by this contribution and having read it, it is now very clear to me that President Goodluck Jonathan was absolutely right when he told us that there were secret members and sympathisers of Boko Haram at the highest levels of his government. The Governor of Central Bank's rationalisation and attempted justification of the shameful and unacceptable activities of the murderous islamist sect Boko Haram are an eloquent testimony to that fact. Yet he is not alone. The northern Speaker of the Federal House added insult to injury by saying that Boko Haram should be "forgiven" for their sins and called to the table for "dialogue and negotiations". And this was just a day after the Kano bombings. Mr. President apparantly took his advice because just a few days later he reached out to Boko Haram on CNN, BBC and Al Jazeera, asked them to identify themselves and attempted to open a dialogue with them. In return, and predictably in my view, he was rebuked, spurned, treated with contempt and disdain and told to "repent and become a muslim" before any form of dialogue could begin. So much for the advice, counsel and rationalisations of the "insiders" and secret members of Boko Haram within our government. My advice to Mr. President is to identify these fifth columnists, name and shame them publicly and weed them out of his government before it is too late. The longer he waits the more dangeous it will be for him and for a united Nigeria. Let us pray for our country.

•Fani is former Aviation Minister.


Oando denies benefiting from oil subsidy, claims N4bn outstanding



Mon 30 Jan

Oando denies benefiting from oil subsidy, claims N4bn outstanding

On January 30, 2012 · In Energy
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BY PETER EGWUATU

The Group Chief Executive Officer of Oando Plc, a quoted company on the Nigerian Stock Exchange (NSE), Mr. Wale Tinubu, has denied alleged reports that his company was a beneficiary of fuel subsidy, just as he disclosed that the company has outstanding N4 billion of unpaid subsidy in 2011.

Tinubu noted that Oando Plc is the largest publicly quoted energy company in Nigeria and sub-Saharan Africa's largest indigenous energy company, based on revenues, with primary listing on the NSE with a secondary listing on the Johannesburg Stock Exchange.

Speaking at the public hearing on the management of subsidy being organised by an ad–hoc committee of the House of Representatives, the Oando boss noted that the money paid to marketers as subsidy was not a profit or windfall but under-recovery, arising from the differentials between the landing cost of petroleum products and the official pump price.

He stated that the use of the word 'beneficiary' was a misconception as the money was not a special favour from the government but a refund of the actual cost incurred by marketers in the importation of petrol.

Tinubu stated that the marketers spent an average of $30 million to import a 30,000 metric tonnes cargo of petrol but sold the products at almost $15 million; while the balance was paid to marketers as subsidy.

"The Petroleum Support Fund (PSF) expected that there would be under-recovery. For example, when the landing cost was higher than the pump price, the government owed us money, which is paid as subsidy. When there is over-recovery, that is, when the landing cost is less than the pump price, we pay back to the government. For example, during the Yar'Adua administration, when the petrol price was N65 and the crude oil price dropped to $50 per barrel, the marketers paid back to the fund. I remember that Oando paid  N1.6 billion back to the Federal Government," he said.

Tinubu stated that when the subsidy regime was introduced in 2006, three major marketers, including Oando Plc, participated in the scheme, along with NIPCO Plc and the Nigerian National Petroleum Corporation (NNPC).

According to him, Oando accounted for 53 per cent of petrol importation in 2006 and 47 per cent of subsidy payment. He, however, stated that the company's market share in terms of subsidy receipts and petrol importation dropped to 11 per cent in 2011 due to proliferation of companies that participated in the PSF scheme.

Tinubu stated that when the subsidy regime was introduced in 2006, only companies that had at least 25 petrol stations and 5,000MT storage capacity were allowed to participate, according to the PSF guidelines. He said the scheme was abused when companies that did not have retail outlets and storage facilities were allowed to participate in the importation business, at the detriment of companies that built capacity.

"In terms of summary of our subsidy payment, we collected approximately N120 billion by the end of 2011 and we imported well in excess of one billion litres or about 700,000 metric tonnes as at August 2011. By the end of 2011, we had imported about 1.3 million MT into the country," he said.


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Hot tips for making business sales (2)


Mon 30 Jan

By Yinka Bolarinwa

Clean up the business — In the months (or even years) before the sale process begins, it is essential to take a long, hard, look at all aspects of the business. In the interests of boosting profitability: Consider whether margins could be lifted; Can non-business expenses be reduced at the expense of long term relationships? Can expenditure with a long term payback, such as advertising, be deferred? Non-business or surplus assets should be disposed of.

Purchasers will not want these so realise some cash and consider paying a pre-sale dividend (this is a standard tax-efficient method of receiving part of the sales proceeds). Look closely at the management structure. A purchaser will not want to have to draft in a new management team if you can demonstrate that your second line management is capable of taking executive decisions. Consider a reorganisation and issue formal job descriptions and titles.

Prepare an excellent 'sales memorandum' — This is often the only piece of information available to the purchaser after the first enquiry and it is the deciding one. Presentation is extremely important. Product literature, charts and tables are much more relevant than pages of management accounts. They may need to be carefully drawn up for the particular purchaser in mind depending on how the business may go and how diverse its offerings are, but bear in mind that the due diligence process will find you out if you are trying to conceal something.

Identify interested parties — The process you have gone through to date may well point the way to the likely buyer profile. If you want cash from a deal it may rule out buyers below a certain size. If you are looking for a friendly purchaser who will safeguard future employment of staff and management there is little point talking to known 'asset strippers'.You may well hold market information about prospective trade buyers, but do not rule out prospective new entrants to the sector.

Keep running the business — You still need to concentrate on this month's sales targets and the usual stress. Consider getting an interim manager to help. A purchaser will appreciate this and take comfort in the knowledge that they can keep them if needed. Also the performance of the business will not suffer. Be prepared for some downward pressure at the end of the negotiations; the cost of due diligence has to be paid somehow!

Staff morale can suffer badly during this period if they are not kept reasonably informed, or offered the chance to buy. Even if you believe in, and practice, the mushroom theory of management, the attitude of your employees will be picked up by the buyer during pre-acquisition contact. No buyer will be particularly keen to take on a demoralised workforce.

Good project management — Keeping control of the events is the role of a professional advisor who is aware of the deadlines and issues. By keeping in line with expectations, goals will be achieved and your business will be sold for the right money and in an acceptable time period. For smaller businesses you may wish to take on this role yourself, in which case, your advisor can brief you. Keep one step ahead and you will achieve your objectives.


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The Basic Guide to Starting Your Business Part 5



Mon 30 Jan

The Basic Guide to Starting Your Business Part 5

On January 30, 2012 · In Business
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By Peter Osalor

WHO IS AN ENTREPRENEUR?

There are many differing views on what makes someone an entrepreneur and what an entrepreneurial venture is. The term itself is believed to have originated from French, coined by a French economist, Jean-Baptiste Say, in about 1800, who defined an entrepreneur as "one who undertakes an enterprise , especially a contractor, acting as intermediary between capital and labour".

But it was first defined in English by the Irish economist Richard Cantillon, as" a term applied to the type of personality who is willing to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome".   The definition of entrepreneur is not limited, as various writers and world renowned entrepreneurs have given it various meanings.

For instance, one of the great motivational speakers and writers of our time Robert Kiyosaki, in his book "Retire Young, Retire Rich" defined an entrepreneur as "someone that sees an opportunity, puts together a team, and builds a business that profit from the opportunity". As you can already see, the word entrepreneur is inexhaustible.

According to the Merriam-Webster online an entrepreneur is "one who organizes, manages, and assumes the risks of a business or enterprise". A more detailed definition given by Daile Tucker, an entrepreneur herself, who in her own words describes an entrepreneur as "a person who has decided to take control of his future and become self employed whether by creating his own unique business or working as a member of a team".

Something that keeps coming up about entrepreneurs is their ability to see opportunities and make the most of it, not minding the risks they will undertake. Entrepreneurs are generally in competition with themselves and believe that success or failure lies within their personal control or influence.

So it is very important for you, when starting a business, to be sure that you can identify opportunities, make the most of them and have the wherewithal to thrive even in the midst of risks and unforeseen circumstances and that is why carrying out a self analysis cannot be over emphasized.
Entrepreneurs are leaders, prime movers, authors, pacesetters, investors and risk bearers.

They are usually pioneers who strategize and formulate the rules for the general interest of the enterprise for others to follow. An entrepreneur conceives an idea and brings it to life through systematic and well-articulated planning, driven by the passion and the need to achieve uncommon things.

An entrepreneur not only assumes responsibility and the risk for a business operation with the expectation of making a profit, the entrepreneur also generally decides on the product, acquires the facilities, and brings together the labour force, the capital and production materials. Simply put entrepreneurs are people who choose to see positivity where negativity abounds. Bear it in mind, however, that if a business succeeds, the entrepreneur reaps the reward of profits; on the other hand, if it fails, he or she takes the loss.

Successful entrepreneurs are not perfect people but are brilliant, productive, and articulate; it takes both the heart and the head to successfully run an entrepreneurship. Also note that an entrepreneur is an inspirer, a motivator, a coach, a great listener, attentive, consistent and enthusiastic.

A lot of people go into business for the sole reason of making money; this is not a good idea. It's not a good idea because the main ingredient for success is missing. The main ingredient for success is passion, and it's virtually impossible to maintain high-levels of energy when you're doing something you don't love. There will always be challenges in owning a business.  Your love and passion is what takes you through those challenges.  Without that passion, you probably won't make it.

Let me stop and ask; are you ready to start a business now? I can bet your     answer is in the affirmative, so be my guest as I take you through the basic steps in starting your business.

START UP OPTIONS What are your options? 1.    Start a new business 2.    Buy an existing business 3.    Buying a franchise 4.    Start an online business
5.    Starting a partial business
6.    Start a home-based business.


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Sunday, January 29, 2012

SaharaReporters Replies Reuben Abati: RE: Sahara Reporters on “Culture of Waste and Insensitivity” and the 18th AU Summit – 247ureports


Published On: Sun, Jan 29th, 2012

SaharaReporters Replies Reuben Abati: RE: Sahara Reporters on "Culture of Waste and Insensitivity" and the 18th AU Summit

 

Dear Reuben Abati, I read your cleverly written letter to me regarding our latest report on President Goodluck Jonathan's junket to Ethiopia. In writing what purports to be a rejoinder, you deliberately left out details of our sms exchanges on the same issue. That omission, I suggest, was an attempt to evade the central issue raised in our report. Instead of confronting that issue – the list of delegates invited and sponsored by the Jonathan administration and his wife to Ethiopia – you chose to play a semantic game over what is a straight forward issue. I'll respond to your rejoinder pointedly. 1. You sent me a text message on Friday claiming that our report on the Ethiopia trip was false and malicious because, according to you, there was a "mix up" somewhere. I quickly responded, telling you that a truthful report could never be malicious. Thereafter, you sent another text saying you didn't mean to criticize the report, but wanted to put matters straight. You proceeded to explain that there was only "one delegation" led by the president to Addis Ababa and that the number of people on the list was far lower than we reported. I quickly requested for the list. You responded by claiming that it was in your bag at your hotel room. However, you curiously sent another text claiming you couldn't reach some people involved in getting the list as it was "past midnight" in Addis Ababa. My last text to you was a reminder that I would be waiting for your response regarding the list and size of the delegation. That response never came; instead, you released this letter that pretends to be a refutation, but is rather an attempt at obfuscation. 2. You claimed that there was a single list of delegates to Ethiopia. That claim amounts to a puerile effort to conceal the fact that Mrs. Patience Jonathan was attending a program of African First Ladies which was different from the AU summit being attended by President Jonathan. This meant that the "First Lady" was traveling with a retinue of staff, associates and hangers-on to aid or support her "official" activities at a separate event from that of President Jonathan. 3. As the president's chief spokesman, you ought to have the delegate list. I challenge you then to provide the public with a breakdown of Mr. Jonathan's "one delegation entourage" to Addis Ababa, categorized in order of designation of officials, their date of travel, mode of travel, and explanation of whether they were part of the advance party or arrived in Addis Ababa in the same aircraft as the President – or in an extra aircraft that was deployed. 4. From your letter, it is clear that you concede that some "Nigerians" may have traveled with the delegation "unofficially." Does this technical admission not defeat your initial insistence that there was only "one delegation"?
5. SaharaReporters has a history of documenting the culture of waste occasioned by the profligate junkets by the Presidency. We are glad that your principal appears to have realized that wasteful trips need to be eliminated and the size of delegations cut – especially after the president's scandalous outing in Perth, Australia where an out-of-control delegation engaged in waste, corruption and even broke Australian laws.

6. We maintain that "First Lady" Patience Jonathan traveled with a retinue of aides, friends and associates to the tune of 32 people. Their travels and accommodation were arranged and paid for by the Nigerian government. What you owe the public is an obligation to be transparent. In this event, that entails releasing your official delegates' list as well as  names of associates, contractors, friends and "other Nigerians" the government gave a nod to visit along with the president and his wife on this trip to Addis Ababa. In other words, we await the release of that list that you claimed was in your bag in the hotel room in Addis Ababa.

 Thank you
Sincerely,
 Omoyele Sowore

On Sun, Jan 29, 2012 at 1:19 AM, Reuben Abati <abati1990@gmail.com> wrote:

Dear Omoyele Sowore,

RE: Sahara Reporters on "Culture of Waste and Insensitivity" and the 18th AU Summit

I observe that you have made no effort, following my earlier explanations, to amend your story titled "Culture of Waste And Insensitivity Continues As Mrs. Jonathan Arrives Addis Ababa With 32 Aides" (Sahara Reporters), and have allowed your readers to rely on deliberate misinformation. The story in question does not reflect the true state of affairs with regard to the President's delegation to the 18th annual African Union (AU) Summit in Addis Ababa, Ethiopia. I therefore want to set the records straight by making the following observations:

1.       There is only one Nigerian Delegation to this summit not two as your report suggests. Specifically, the First Lady, Dame Patience Jonathan, has no delegation, official or unofficial, to this summit, and she did not arrive in Addis Ababa with "32 aides."

 

2.       You correctly reported that Mr. President travelled with a "25-person delegation to Addis Ababa for the 18th African Union Summit" but after salting your story with a dash of hype and peppering it with innuendo you have managed to cook up the impression that there are 57 Nigerian delegates in Addis Ababa. This is not fair.

 

3.       The Nigerian Entourage list contains 35 names in total, however three of those whose names are listed did not join the delegation and the total number of delegates in Addis Ababa is not more than 32. This includes two Senators (the Chair of the Senate committee on NEPAD and another member), a member of the House of Representatives (NEPAD House of Reps), essential aides of the First couple, and Foreign Ministry Officials.  Mr. President meant every word of it when he said that only persons who have work to do will be allowed to travel, officially.

 

4.       As you well know, Nigeria is a free country; President Jonathan cannot prevent Nigerians from travelling to Ethiopia or anywhere else without good reason, legal sanction or authority. If there are other Nigerians in Addis Ababa, they are certainly not official delegates, and they have nothing to do with the First Lady.

 

5.       It has become Sahara Reporters' favourite sport to taint and bait President Jonathan with hooks and details that are inconvenient with the truth. You do your readers and Nigeria no favours by this shrill and deliberate misrepresentation of information.

 

6.       President Jonathan remains committed to the Constitution he swore to protect and defend.  You have a responsibility to report the truth.

 

Reuben Abati

Special Adviser to the President

(Media and Publicity)

January 29, 2012



What to Write Down During a Class Lecture


What to Write Down During a Class LectureYour professor says an awful lot of things during class. You can't possibly write it all down, nor should you. To take the best notes (and ace your exams), pay attention to your professor's cues—conscious and subconscious.

Part of a great guide on note-taking strategies by Brett and Kate McKay on The Art of Manliness, these are the tell-tale signs that you should be writing down what your professor is saying:

  • Anytime the professor says, "You need to know this," or "This will be on the test." Duh.
  • Anytime the professor repeats himself.
  • Anything the professor writes on the board or includes in a Powerpoint slide.
  • Anything the professor repeats very slowly so that it can be taken down word for word.
  • If your professor starts talking more quickly, or loudly, or with more emphasis.
  • Watch for language that shows relationships between ideas. These sorts of points are often where professors get their exam questions from:
    • first, second, third
    • especially, most significant, most important
    • however, on the other hand
    • because, so, therefore, consequently

Another great tip is to write down any examples or hypotheticals the professor offers, because you'll probably see a similar one on your final, especially if you're taking math or science classes or are in law school. Examples are also key in computer science/programming classes.

Sometimes, depending on the professor, paying attention is the hardest part. But keep your ears perked for these keywords and points and you might find yourself with more effective notes. Photo by Columbia Admissions


Corruption petition: EFCC goes after Sylva, Imoke, Idris, Wamakko, Nyako


Corruption petition: EFCC goes after Sylva, Imoke, Idris, Wamakko, Nyako

January 29, 2012 by Toyosi Ogunseye

Less than 48 hours after five governors were ordered to vacate their seats by the Supreme Court, the Economic and Financial Crimes Commission has launched an investigation into the corruption claims against them.

SUNDAY PUNCH learnt that the acting Chairman of the Commission, Mr. Ibrahim Lamorde, has instructed EFCC operatives to invite the ex-governors of Kogi, Adamawa, Sokoto, Cross River and Bayelsa for interrogation.

Some of the former governors had petitions written against them when they were in government but they could not be invited for questioning because of the immunity clause that shielded them while in office.

The immunity clause which is spelt out in Section 308 of the 1999 Constitution provides that, "No civil or criminal proceedings shall be instituted or continued against a person to whom this section applies during his period of office; A person to whom this section applies shall not be arrested or imprisoned during that period either in pursuance of the process of any court or otherwise;

"And no process of any court requiring or compelling the appearance of a person to whom this section applies, shall be applied for or issued: Provided that in ascertaining whether any period of limitation has expired for the purposes of any proceedings against a person to whom this section applies, no account shall be taken of his period of office."

The clause applies to a person holding the office of president or vice-president, governor or deputy governor.

A very reliable source within the EFCC who pleaded anonymity told our correspondent that already letters of invitation had been prepared to be dispatched to the ex-governors.

"The letters are going out next week. The petitions have been with us for some time. We need them to answer all the allegations. If we are not satisfied, we are going to court. We will ensure we do thorough investigations.

"This is not a case of witch-hunting anybody. The petitions have been with us for a while and now that they don't have the immunity, we have to do our work," she said.

SUNDAY PUNCH authoritatively gathered that the former governor of Kogi State, Ibrahim Idris, would be one of the first governors to get his letter.

Last year, a group, Kogi Patriots, had accused Idris and his son-in-law Idris Wada, of contract fraud and urged the EFCC to probe the allegations.

In a petition signed by Mohammed Idris and sent to the anti-graft agency, the group said, "We are the leaders of Kogi Patriots, Kogi State. Our mission, among others, is to expose all forms of anti-people activities, fraud, economic and financial crimes, and to ensure that people of questionable character with self-seeking mission do not ride on the crest of any of the political parties to Lugard House as governor or to any elective office in Kogi State.

"We are very passionate about this and will not spare any efforts to ensure that only credible people with clean records and unblemished antecedents get to public office in Kogi State, our own dear father land.

"The Governor of Kogi State in connivance with Wada have looted Kogi State treasury under the guise of payment for contracts not executed and or payments for contracts in excess and far above the extent of job done."

The source said there was little the agency could do about the petition when it was first sent in because Idris, as governor then, enjoyed some constitutional privileges.

Also to be interrogated is ex-governor Murtala Nyako of Adamawa State. In October 2011, the EFCC had said it was going to probe Nyako and some top government officials for an alleged N6.8bn fraud in respect of inflated contracts.

Just last month, workers in Adamawa State called on the EFCC to probe the recent donation of 21 vehicles and N5m by Adamawa State Secretary to the State Government, Mr. Kobis Thimnu, to Nyako's campaign organisation.

The workers who decried the non-payment of their salaries for several months expressed shock on how the SSG got such huge number of vehicles and cash to donate to the governor's campaign body.

Similarly, a group, Initiative For Restoration of Accountability, last November, had urged the EFCC to investigate former governor Timipre Sylva of Bayelsa State.

The IRA led by Miebi Macdonald and Timitimi Telema said, "It has become obvious that most of the ill- gotten property of Governor Silva were not included in the asset declaration form. We appeal to the anti-graft agencies to get to the root of these matters to help Bayelsa State recover her stolen wealth to at least complete all the on-going projects in the state."

Not left out of the investigations is Governor Liyel Imoke of Cross River State. The anti-graft commission had earlier said it was investigating Imoke for unspecified petitions and allegations.

SUNDAY PUNCH further gathered that Imoke's name was allegedly mentioned in the long-awaited report of the controversial House of Representatives Committee on Power.

It was learnt that at least N242.6bn was allegedly lost by the nation in the execution of the $13bn (N2tn) power projects during the administration of former President Olusegun Obasanjo and that if members of the House of Representatives accept recommendations of the committee, prosecution may soon commence against Obasasnjo and Imoke for their alleged shoddy handling of electricity projects across the country.

The report had also reportedly called for the prosecution of the former Governor of Ondo State, Olusegun Agagu; the former Managing Director of the Power Holding Company of Nigeria, Joseph Makoju; a former Minister of Energy, Abdulhamid Ahmed; and National Integrated Power Project officials.

The source further told our correspondent that apart from Idris and Nyako, Sylva and Imoke, ex-governor Aliyu Magatakarda Wamakko of Sokoto State also had a pending case before the commission.

Confirming this latest move, the spokesman for the commission, Mr. Wilson Uwujaren, said, "Some of the governors have pending cases against them and we are going to invite them to make statements."

Uwujaren was however reluctant to disclose the nature and number of petitions against the ex-governors.

"It won't be proper for me to start giving that information out now because they have yet to tell their own sides of the story. We need to hear from them first before we start saying all of that."

When pressed further on when the former state executives will report at the headquarters of the commission, the spokesman said, "very soon."

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Why they call it Master Bedroom



Why they call it Master Bedroom

January 29, 2012
master-bedroom

Features of a master bedroom

Spaces that are often large enough to include more than a standard bed, dresser, and chest of drawers.

A master bedroom often includes a vanity, a small conversation area, or a chaise that is ideal for taking a nap or reading a book.

In many homes, the master bedroom will include space for one large closet or two ample closets.

In a master bedroom where a private bath is included, a dressing room often acts as the connecting space between the bedroom proper and the bath and shower space.

The size could be at least 70s square feet of floor space in the main body of the room. Also, the single largest bedroom in the home could serve as master bedroom for some families.

 

Decorating Tips

De-clutter and organise.

Nothing should be on your floors except furniture. Use storage boxes if you must keep things under your bed.

Dress up the bed.

Your bed is the focal point of the room. Allow yourself the luxury of good sheets. Don't feel you have to commit to a 'bed set'; mix and match. Just stay in the same colour tones.

No need for matching sets of furniture.

Buy interesting individual pieces of furniture. Again, stay within the basics — bed, nightstands, dresser, chest, and if room allows, a comfortable reading chair.

Stay with the basic 'three' rule.

The rule says when accessorising, use only three items to decorate with, but keep them in scale with the furniture.

Curtain fabrics must blend with bedding. The door and window curtains must blend well with your beddings.

Keep wall art simple and well proportioned. If you have a larger wall, don't be afraid to hang one large piece of artwork.

Choose appropriate paint colours.

White, neutral, or soft pale hues tend to create a more restful ambiance.

House your TV.

If you decide you cannot live without a TV in your bedroom, keep it inside a cabinet that conceals it. That way, you maintain a restful look in the room.