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jerryking : fees_&_commissions   29

Boom amid the bust: 10 years in a turbulent art market | Financial Times
July 27, 2018 | FT| by Georgina Adam.
September 15 2008, the date of Lehman Brothers' bankruptcy filing, was also the first day of a spectacular gamble by artist Damien Hirst, who consigned 223 new works to Sotheby’s, bypassing his powerful dealers and saving millions by cutting out their commissions........The two-day London auction raised a (stunning) total of £111m.......o the outside world, though, the Hirst auction seemed to indicate that despite the global financial turmoil, the market for high-end art was bulletproof....in the wake of the Hirst sale, the art market took a severe dive.... sales plunging about 41% by 2009, compared with a market peak of almost $66bn in 2007. Contemporary art was particularly badly hit, with sales in that category plunging almost 60 % over 2008-09. Yet to the surprise, even astonishment, of some observers, the art market soon started a rapid return to rude health...the make-up of the market has changed. The mid-level — works selling between $50,000 and $1m — has been sluggish, and a large number of medium-sized and smaller galleries have been shuttered in the past two years. However, the high-performing top end has exploded, fuelled by billionaires duelling to acquire trophy works by a few “brand name” artists....A major influence on the market has been Asia....What has changed in the past 10 yrs. is what Chinese collectors are buying. Initially Chinese works of art — scroll paintings, furniture, ceramics — represented the bulk of the market. However, there has been a rapid and sudden shift to international modern and contemporary art, as shown by Liu and other buyers, who have snapped up works by Van Gogh, Monet and Picasso — recognisable “brand names” that auction houses have been assiduously promoting......Further fuelling the high end has been the phenomenon of private museums, the playthings of billionaires....In the past decade and even more so in the past five years, a major stimulus, mainly for the high end, has been the financialization of the market. Investment in art and art-secured lending are now big business....In addition, a new layer of complexity is added with “fractional ownership” — currently touted by a multitude of online start-ups. Often using their own cryptocurrencies, companies such as Maecenas, Feral Horses, Fimart or Tend Swiss offer the small investor the chance to buy a small part of an expensive work of art, and trade in it.....A final aspect of the changes in the market in the past decade, and in my opinion a very significant one, is the blurring of the art, luxury goods and entertainment sectors — and this brings us right back to Damien Hirst....Commissions are probably also lucrative. E.g. a Hirst-designed bar called Unknown was unveiled recently in Las Vegas’s Palms Casino Resort. It is dominated by a shark chopped into three and displayed in formaldehyde tanks, and surrounded by Hirst’s signature spot paintings. Elsewhere, Hirst’s huge Sun Disc sculpture, bought from the Venice show, is displayed in the High Limit Gaming Lounge. ...So Hirst neatly bookends the decade, whether you consider him an artist — or a purveyor of entertainment and luxury goods.
art  artists  art_finance  art_market  auctions  boom-to-bust  bubbles  contemporary_art  crypto-currencies  Christie's  Damien_Hirst  dealerships  entertainment  fees_&_commissions  fractional_ownership  high-end  luxury  moguls  museums  paintings  Sotheby's  tokenization  top-tier  trophy_assets  turbulence 
july 2018 by jerryking
How Ubernomics can transform Canada’s legal diseconomy - The Globe and Mail
MICHAEL MOTALA
Contributed to The Globe and Mail
Published Friday, Jul. 10, 2015

Technologists from other industries hope Ubernomics is a generalizable business model. This month, the MaRS Discovery District launched LegalX, an industry cluster aimed at promoting local entrepreneurship, driving industry efficiency and pioneering new business models. One of its first startups is a service called LawScout. Like Uber, it offers a simple digital platform aimed at connecting small businesses with local lawyers on a fixed-rate basis. Beagle, another product launched at the event, performs rapid contract analysis using a sophisticated algorithm, while providing a platform for social media-inspired collaboration among decision-making teams....Ubernomics is not a panacea for the legal sector. Rather than disrupt it, it will transform. Big firms are here to stay if they embrace innovation. Digital technologies promise more efficient work flows and higher productivity. The shortcomings of the consensus-driven decision-making structure, exemplified by the fall of Heenan Blaikie, suggests more strategic thinking, stronger leadership and a heavier investment in R&D is needed to make legal work more efficient and cost effective......We live in an absurd legal diseconomy. There is an ever-widening gap between supply and unmet demand. Following the Ontario government's tuition deregulation in 1998, University of Toronto law led the charge, raising tuition by 320 per cent under dean Ron Daniels. Other law schools followed suit and continue to do so. This year, U of T law is unashamed to charge incoming students more than $30,000 a year. Not to be left out, the Law Society of Upper Canada recently doubled its licensing fees. The legal academy is aggravating the access to justice crisis by imposing ever-higher rents on the most vulnerable entrants to the profession. A false and parasitic empiricism has evidently burrowed itself in the minds of our country's greatest legal thinkers.

Ubernomics is not a panacea for the legal sector. Rather than disrupt it, it will transform. Big firms are here to stay if they embrace innovation. Digital technologies promise more efficient work flows and higher productivity. The shortcomings of the consensus-driven decision-making structure, exemplified by the fall of Heenan Blaikie, suggests more strategic thinking, stronger leadership and a heavier investment in R&D is needed to make legal work more efficient and cost effective.........
Businesses like fixed-cost projections. The billable-hour model introduces a lot of uncertainty into the equation. Software such as LawScout is unlikely to undermine the legal industry’s biggest players, but it signals that an economic culture shift lies ahead.
arbitrage  billing  contracts  digital_disruption  disruption  fees_&_commissions  invoicing  law  law_firms  law_schools  lawtech  legal  sharing_economy  start_ups  Uber  unmet_demand  uToronto 
july 2015 by jerryking
David Chilton’s rise from The Wealthy Barber to The Wealthy Dragon - The Globe and Mail
IAN MCGUGAN
TORONTO — The Globe and Mail
Published Friday, Jan. 23 2015,

Clips from the Wealthy Barber

On luck: “I’ve been incredibly lucky in life, and my health is my greatest gift. I don’t work out much, I love Nibs and Diet Pepsi, but I’m never sick a day, I never get a cold, I hardly ever sleep, and it’s all from my mom and dad. They’re in their early 80s and still have crazy energy.”

On the economy: “I try to be optimistic but you have to be concerned about debt levels just about anywhere in the developed world. I think governments are making promises they may not be able to keep. It would not shock me to see another financial crisis at some point over the next three to five years.”

On investing: “It’s shocking how badly many people manage their own investments. Mutual fund fees and expenses are part of that, but we also appear to have mastered the art of buying mutual funds that are just about to underperform.”

On mutual funds: “Paying 2 per cent [in mutual fund fees] doesn’t sound like much, because we still relate things to our high school marks. Losing 2 per cent off a mark of, say, 70 per cent is no big deal. But with mutual funds, you’re talking about losing two percentage points of an estimated 8 per cent or so return. That’s a quarter of your expected gain.”

On alternative investing: “If you’re going to get involved with hedge funds, don’t invest in them, run them.”

On entrepreneurship: “A lot of the people we see on Dragons’ Den have the naive idea that the biggest challenge in business is getting their product on the shelves. It’s not – it’s getting it off the shelves. Once it’s in the store, how do you create demand, how do you make it stand out among the competition?”

On perseverance: “No author in history did more interviews about a single book than I did about The Wealthy Barber. I did hundreds of interviews a year. For years and years and years.”
creating_demand  personal_finance  personal_branding  angels  entrepreneurship  luck  fees_&_commissions  perseverance  debt  investing  writers  authors  developed_countries  developing_countries 
january 2015 by jerryking
Beware The Consultant
Beware The Consultant
By
John Greathouse
– November 12, 2007
management_consulting  start_ups  fees_&_commissions 
march 2014 by jerryking
Our Fees | Kelid™
Recent studies for SR&ED services indicates that the competition is driving contingency fees down. However, many small to medium size companies still paying between 15% to 35% in contingent fee versus the large companies which pay less than 15%. Practically, many contingent arrangements cap the overall fee to a fixed amount, which is usually substantially less than the fee would have been without this cap. This would ensure that the tax benefits stay with the taxpayer, as intended by the tax policy.

Our extensive experience in consulting services and filing various business funds over the past 6 years resulted in development of an efficient and effective tool to accelerate filing procedure for full satisfaction of our clients. In 2013, Kelid™ launched this newly developed processing tool which enabled offering a highly competitive contingency fee for claiming SR&ED files. Apply now to be selected as one of our preferred clients to enjoy our highly competitive contingency fee of 12.5%*.
SR&ED  fees_&_commissions 
october 2013 by jerryking
A SRED Expert's Controversial Opinion On Contingency Fees
The size of the contingency fee is dependent upon many circumstances. The biggest one is whether or not the company hiring external consultants chooses to compare rates (opting to negotiate a lower fee). Contingency fees seem to very between 10% and 35%, though most are in the lower range. This is in-line with the cost of compliance identified in the 1996 study Measuring the Compliance Cost of Tax Expenditures: The Case of Research and Development Incentives. Further information that answers these points can be found in the 1996 Department of Finance studies (not consultations) where many of these questions were addressed.
SR&ED  fees_&_commissions 
october 2013 by jerryking
What’s an Idea Worth? - NYTimes.com
By ADAM DAVIDSON
Published: July 29, 2013 (think about this for WaudWare)

Companies like G.E., Nike and Apple learned early on that the real money was in the creative ideas that can transform simple physical products far beyond their generic or commodity value....we have no idea how to measure the financial value of ideas and the people who come up with them.
fees_&_commissions  invoicing  intangibles  billing  transformational  GE  Nike  Apple  fees  goodwill  professional_service_firms  branding  metrics  time-management  productivity  knowledge_economy  creativity  pricing  value_creation  ideas 
august 2013 by jerryking
Law Firms Raise Rates, but Ease Blow With Discounts - WSJ.com
April 9, 2013 | WSJ | By JENNIFER SMITH
On Sale: The $1,150-Per-Hour Lawyer
Lawyer Fees Keep Growing, But Don't Believe Them. Clients Are Demanding, and Getting, Discounts
law_firms  invoicing  fees_&_commissions 
april 2013 by jerryking
Suit Offers a Peek at the Practice of Inflating a Legal Bill - NYTimes.com
March 25, 2013, 3:36 pm 447 Comments
Suit Offers a Peek at the Practice of Inflating a Legal Bill
By PETER LATTMAN
law_firms  invoicing  Big_Law  fees_&_commissions  billing 
march 2013 by jerryking
Billable Hours
September 22, 2000 | Redherring.com | Rafe Needleman
management_consulting  fees_&_commissions  billing  fees 
september 2012 by jerryking
Move Over, Coke - WSJ.com
January 30, 2006 | WSJ | By GWENDOLYN BOUNDS | Staff Reporter of THE WALL STREET JOURNAL

How a small beverage maker managed to win shelf space in one of the most brutally competitive industries
Gwendolyn_Bounds  beverages  shelf_space  Coca-Cola  grocery  Pepsi  fees_&_commissions  branding  distribution_channels  water 
may 2012 by jerryking
'Billable Hour' Under Attack - WSJ.com
AUGUST 24, 2009 | WSJ | By NATHAN KOPPEL and ASHBY JONES
'Billable Hour' Under Attack
In Recession, Companies Push Law Firms for Flat-Fee Contracts
billing  contracts  fees_&_commissions  invoicing  law_firms 
november 2011 by jerryking
Avoid the shock of cellphone roaming charges - The Globe and Mail
Dakshana Bascaramurty

Globe and Mail Update Published on Sunday, Jun. 06, 2010 9:41PM EDT Last updated on Monday, Jun. 07, 2010
mobile_phones  fees_&_commissions  roaming 
june 2010 by jerryking
Freelancers Fight to Be Paid - WSJ.com
APRIL 27, 2010 | Wall Street Journal | By JOE LIGHT. More Freelancers Fight to Be Paid. Send to Freshbooks
freelancing  invoicing  billing  fees_&_commissions 
may 2010 by jerryking
uToronto starts collecting library fee from other schools
October 16, 2009| globecampus.ca | Joey Coleman. The
University of Toronto announced in September that all non-uToronto users
of their library collections must pay an annual fee of $200.
Colleges_&_Universities  libraries  fees_&_commissions  uToronto 
october 2009 by jerryking
Taking a Commission
Oct. 17, 2006 WSJ column, pg. B4, by Kelly Spors on handling referrals among consultants.
etiquette  management_consulting  Kelly_K._Spors  fees_&_commissions 
march 2009 by jerryking
Consultant Lets Clients Use 'Gut' To Set Final Fee - WSJ.com
AUGUST 21, 2006 | WSJ | by JACLYNE BADAL on how management
consultants, Trium, are allowing clients to weigh in on fees in a novel fashion.
management_consulting  pricing  novel  DIY  fees_&_commissions  billing  gut_feelings 
march 2009 by jerryking

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