Yutz Place – an expensive Bali steakhouse

I was talked into going to Yutz Place, this is a Balinese steakhouse in Legian that I must admit that I wasn\’t much interested in. I was forced to head in because of online recommendations and my protests went unanswered.

There are many good quality restaurants in Bali that are very reasonably priced, why go to an expensive over-rated restaurant? From now on, maybe I should be insisting the person pushing to go to such an establishment should be picking up the bill. You have to very careful what you order, the bill will escalate very quickly. Whatever you do, don’t get caught out on happy hour, it only applies to beer despite what they actually tell you – they will charge you extra for the mixer too, it is not inclusive.

The next round of drinks you order, when you inquire, they then tell you happy hour is over for spirits, beer only. Not a lot of goodwill either when you question the bill, no discussion at all – not a great strategy to build customer goodwill. The steak is great, I asked for rare and that is what I got. Naturally, you pay for it, be ready for a dent in the plastic. The service was only so so; despite obvious failings, even if you have communication issues, a compromise goes a long way in the eyes of the consumer. There are no issues with the food or the quality of presentation.

The advantage of blogs is you are able to air your grievance in public, no longer do you just have to just take it and silently vow to never return. The onus is on the vendor, within reason to keep the customer happy; after all, the customer does pay the bill. If the plan is churn and burn as opposed to generating repeat customers, then the strategy worked. When your query is for less than 10% of the bill total, it at least warrants a discussion instead of being left feeling that you have just been done over.

Hay Shed Hill – 2013 cabernet sauvignon

I have been a long time drinker of Hay Shed Hill so you can imagine my disappointment with the 2013 cabernet sauvignon. Hay Shed Hill has always been a softer style and I have always liked their product, my first bottle of 2013 left me less than impressed.

This vintage was awarded 95 points by James Halliday, so I’m guessing it is just my tastes that didn’t appreciate their work. The blend of 86/10/4 percent of cabernet sauvignon would usually be to my tastes. The blend of malbec and cabernet franc was laid down in French oak for 13 months to improve complexity, yet for me – this wine was left wanting. Maybe I will try another bottle sooner rather than later to see if it was just a bad day for me.

A national innovation strategy

One of my colleges at work is more politically left of centre than me; he is a union member and supports the left side of politics. Conversely, my political views are more right of centre; I more of a capitalist than a socialist but I believe in regulation as a balance of power is required.

I also believe in social safety nets such as government welfare to assist those less fortunate within reason; naturally this assistance is short term only to help people get back on their feet. One area we did agree on was when the Abbott government came to power, he slashed budgets across all departments; this was required after the budget disaster he was bequeathed but the scientific budget needed to be expanded.

But the science and innovation portfolio was largely ignored in order to derive budget savings; to my way of thinking, this is short-term thinking that has long-term ramifications. Some of their leading innovations and scientific discovery from the CSIRO include WiFi, plastic banknotes, the Hendra virus vaccine, extended wear contact lenses, Aerogard insect repellent, the total wellbeing diet, RAFT polymerisation, BARLEYmax, self twisting yarn and softly washing liquid.

The Abbott government pretty much slashed the CSIRO budget, that is the Commonwealth Scientific and Industrial Research Organisation that employs scientists, engineers and research technicians – the whole reason why we need to better utilise PhDs. We ran the real risk of losing top notch talent to overseas organisations where our leading scientific minds defected to international organisations – our country loses the benefits of their knowledge and work.

Since the Prime Ministerial coup, the first real change of policy is to inject $100 million back into the CSIRO with over twenty individual measures running across eleven ministerial portfolios. The funding forms the ­national innovation and science agenda focusing on four key outcomes of commercialising research, raising capital and ­effective risk management, providing government leadership as model of innovative practices and boosting talent and skills across the economy – great stuff.

Notwithstanding, such research requires funding to attain commercial success and that requires venture capitalists investing scarce resources to projects that hold commercial capabilities. The top international universities of the world such as Harvard University, the Massachusetts Institute of Technology, Stanford University, Chicago Booth and Wharton University all generate significant interest and funding opportunities through venture capitalists.

The strategy supports science, mathematics and technology at schools across the country to provide the foundations of the program. Now we have the tools and government support to compete at the highest level to attract the best talent worldwide. While Abbott stated Australia is once again open for business, Turnbull is creating the environment to attract science and innovation back to Australia.

Furthermore, tax advantages will now drive investment in ventures that may have not received venture capital funding in the past, one hopes scarce capital is attracted to entrepreneurial business enterprises leading to jobs and investment. Naturally, some business ventures will fail with such risk allowing tax deductions of capital lost.

We have discussed at length the advantages and disadvantages of a Prime Minister with his real world commercial experience. Malcolm Turnbull is a business success, he has extensive merchant banking experience where he made his fortune in technology innovation. He is now reversing the regressive policy of his predecessor – I think we will both agree that this is a positive outcome.

The value of Ronald McDonald House

Say what you want about McDonald’s fast food outlets, their work with Ronald McDonald House is exemplary – this is a fantastic community service. As the old Princess Margaret Hospital is closed down, the new children’s hospital at the redeveloped Sir Charles Gardner Hospital site means the residential facility had to be moved as well as it is imperative that the facilities are close to the medical facilities.

When families have to travel to Perth for their child’s hospital treatment, they have the opportunity to stay at this outstanding residential facility. The new building has the capability to house 180 people each night with Lotterywest contributing $8 million. BHP kicked in $5 million and Fortescue Metals Group also contributing $2 million to the construction. West Australians donated $22 million and was raised in just 9 months.

The state government providing the land adjacent to the hospital – an outstanding contribution all round. The facility is staffed by volunteers who work to provide services for families stressed with sick children. The original Ronald McDonald House in Philadelphia came about after football player Fred Hill organised a housing facility when he was forced to sleep in corridors after his daughter was diagnosed with leukemia.

The local McDonald’s franchise owners organised special milkshakes with the funds collected used to renovate the house. McDonald’s Australia pays all management and administration costs so all donations benefits the families. The relationship began in 1981 with 15 Ronald McDonald Houses operating throughout Australia – a noble cause.

John Mellencamp back at Sandalford winery

Back in 2008, I was lucky enough to head out to Sandalford winery in the Swan Valley to attend an outdoor concert on the grounds. This was my first time to see John Mellencamp in concert and it was a fantastic evening – I loved it.

Now 8 years later, John Mellencamp will be back for a concert under the stars and I immediately snapped up tickets. I will have to wait until February 2016, this will be a hot summer’s night in an ideal setting sipping the excellent fine wines of Sandalford – really looking forward to reliving this concert.

Islamophobia – real or imagined?

On one hand, we have Islamic apologists trying to shout down everyone asking questions regarding Islamic extremists views calling people who oppose their views as racists, bigots or Islamophobic.

Then on the other hand, we have a bunch of people calling for every Muslim person to be deported and flung from the country; the answer seems to be somewhere in between. Islamic extremists are generally drawn from the ranks of mainstream Muslim followers; for anyone to argue IS, ISIS, ISIL or Daesh is not about Islam deluding themselves.

Quite possibly, the name of the organisation Islamic State may offer some clues to their intentions. However, for people to blame every Muslim for the deeds of Islamic State Iraq Syria is also misguided and wrong. Yet, the recruiting of young followers and jihadists from mosques is real; the issue requires leadership from within the Muslim community – so far, this is sadly lacking.

So where are we at? People are concerned about the Muslim community, it is a fair call, there are serious integration issues. For the Islamic community to integrate, the leadership needs to address the wider community in both conversation and deeds. The Christian community provides essential public services.

If the Islamic community wants to be taken seriously then community services such as feeding and housing homeless people, meals on wheels, aged care and disadvantaged people and groups would enhance their image. The Muslim community has an image problem, one of only taking – not giving; hands out for as much money as they can milk it for without providing any community service. Until the Muslim leadership can address these issues – they will continue to suffer from their own abilities to effectively integrate in the country they now live.

Where is Yahoo! headed?

Is Yahoo! Inc a business with a future? Founded by David Filo and Jerry Yang in 1994 when the internet was really kicking off; the question is, are they going to survive?

Current CEO Marissa Mayer is considering selling out of the internet business to concentrate on its investment in Chinese technology giant Alibaba. The two major assets of Yahoo! are the Alibaba stake and Yahoo Japan with the 15% in Alibaba valued around $32 billion USD and 35% stake in Yahoo Japan valued around $8.5 billion USD.

Following a line of short-term CEOs, Mayer is feeling the pressure to stem the bleeding and arrest the flow of top executives leaving the corporation. Despite the Asian assets performing well, the rest of the business seems to be sinking after being a leading internet business. Whilst remaining a big deal, the search engine is losing ground to rival Google although the email and news functions still drive people to the site allowing advertising to remain a cash cow for the business. Is this the end of Yahoo! as we know it?

If plan A fails

Interestingly, contradicting Susanna Kass at Stanford’s Graduate School of Business is Elizabeth Holmes CEO of Theranos, the privately held health technology and medical laboratory company suggesting “The minute you have a back-up plan, you’re admitted you’re not going to succeed.”

Both of them can’t be incorrect, so the question is – “Is contingency planning an admission of impending failure or prudent risk management?” I tend to support Susanna’s views believing strategic planning is fluid and responsive insofar as correct methodology and processes are undertaken to achieve desired results.

As a sailor, you need to steer to the course and keep the endgame in mind, but the best tactical decisions are based on current conditions and strategy. The old adage of defending your position when you are in the lead and engaging in offensive tactics when you are challenging for the lead holds true – you can’t just sail your own race. You need to account for the other competitors and respond accordingly.

American Express – don’t leave home without it

When you think of American Express, people immediately identify the company as a financial services business, namely the distribution of charge and credit cards – the company reach extends far beyond the traditional credit business.

I began with some basic research and found the company was founded as an express mail business in 1850 by Henry Wells and William Fargo, the founders of Wells Fargo bank that was incorporated in 1854. As a non-American, I was aware of the Wells Fargo brand but didn’t really know much about the bank apart from the fact that it was a pretty big deal. I think of DHL Express and TNT Express as logistics business and Amex as purely a financial business, so that part of the story was very interesting to me.

Interestingly, the financial services arm began in 1882 with the introduction of the travelers cheque after dissatisfaction with the traditional letter of credit created difficulty in obtaining local currency for international travelers. American Express entered the charge card business in 1958 following the success of Diners Club and then entered the credit card business in 1987.

What I am tending to find is Amex isn’t the first company to enter a business, but when it does, the business becomes a serious competitor. Amex still hasn’t conquered the Visa and Mastercard market share yet, but I’m guessing they will build market share at the expense of these two credit card providers.

A business like Diner’s Club suffers an identity crisis based on its history as a restaurant charge card, patrons wrongly associate the card with purely a restaurant charge card competing against Visa and Mastercard credit cards and the Amex charge card. As a competing charge card, American Express displays better advertising, a name now associated with finance and a strong branding. American Express does not suffer from such an identity crisis despite its logistics history and name.

In Australia, the American Express isn’t as readily accepted as one might think due to the excessive fees for vendors charged by the company. Plenty of times I have been told I will be charged an extra fee for Amex, around the 2% mark but if I use Visa or Mastercard – the transaction interchange fee is lower and usually won’t be passed on to consumers.

American Express charges an annual fee to issue the card, this can be very high as opposed to competing cards, then comes the merchant fees – the benefits to consumers better be pretty good to justify such costs to the consumer. If Amex was to lower fees to build both market share among consumers and gain stronger acceptance with vendors, I am guessing they will soon displace Mastercard and seriously challenge Visa as the dominant credit card. 

Is this the end of Chrome?

I read on The Wall Street Journal that Google was intending to merge Chrome into Android and I was more than a little concerned, I\’m very disappointed. I had become accustomed to Chrome; I don’t really use my tab much except when on holiday and I don’t own a smartphone, so I would prefer if they didn’t mess with an excellent operating system.

According to The Wall Street Journal article, Google will now merge its Chrome operating system built for personal computers into the Android mobile operating platform. Furthermore, the article hinted there would be a significant change to Chromebooks – that can’t be good. I got stuck with that dog of an operating system Windows 8 that was built for mobile devices on my notebook computer – I don’t want to see a repeat of that episode.