the.world.is.flat-µÚ4²¿·Ö
°´¼üÅÌÉÏ·½Ïò¼ü ¡û »ò ¡ú ¿É¿ìËÙÉÏÏ·ҳ£¬°´¼üÅÌÉ쵀 Enter ¼ü¿É»Øµ½±¾ÊéĿ¼ҳ£¬°´¼üÅÌÉÏ·½Ïò¼ü ¡ü ¿É»Øµ½±¾Ò³¶¥²¿£¡
¡ª¡ª¡ª¡ªÎ´ÔĶÁÍꣿ¼ÓÈëÊéÇ©ÒѱãÏ´μÌÐøÔĶÁ£¡
He¡¡told¡¡me¡¡he'd¡¡been¡¡talking¡¡to¡¡an¡¡Israeli¡¡company¡¡that¡¡is¡¡making¡¡some¡¡big¡¡advances¡¡
in¡¡compression¡¡technology¡¡to¡¡allow¡¡for¡¡easier£»¡¡better¡¡transfers¡¡of¡¡CAT¡¡scans¡¡via¡¡the¡¡
Internet¡¡so¡¡you¡¡can¡¡quickly¡¡get¡¡a¡¡second¡¡opinion¡¡from¡¡a¡¡doctor¡¡half¡¡a¡¡world¡¡away¡£¡¡
A¡¡few¡¡weeks¡¡after¡¡I¡¡spoke¡¡with¡¡Rao£»¡¡the¡¡following¡¡e¡mail¡¡arrived¡¡from¡¡Bill¡¡Brody£»¡¡
the¡¡president¡¡of¡¡Johns¡¡Hopkins¡¡University£»¡¡whom¡¡I¡¡had¡¡just¡¡interviewed¡¡for¡¡this¡¡book£º¡¡
Dear¡¡Tom£»¡¡I¡¡am¡¡speaking¡¡at¡¡a¡¡Hopkins¡¡continuing¡¡education¡¡medical¡¡meeting¡¡for¡¡
radiologists¡¡£¨I¡¡used¡¡to¡¡be¡¡a¡¡radiologist£©¡¡¡£¡£¡£¡¡I¡¡
16¡¡
came¡¡upon¡¡a¡¡very¡¡fascinating¡¡situation¡¡that¡¡I¡¡thought¡¡might¡¡interest¡¡you¡£¡¡I¡¡have¡¡just¡¡
learned¡¡that¡¡in¡¡many¡¡small¡¡and¡¡some¡¡medium¡size¡¡hospitals¡¡in¡¡the¡¡US£»¡¡radiologists¡¡
are¡¡outsourcing¡¡reading¡¡of¡¡CAT¡¡scans¡¡to¡¡doctors¡¡in¡¡India¡¡and¡¡Australia£¡£¡£¡¡¡Most¡¡of¡¡
this¡¡evidently¡¡occurs¡¡at¡¡night¡¡£¨and¡¡maybe¡¡weekends£©¡¡when¡¡the¡¡radiologists¡¡do¡¡not¡¡have¡¡
sufficient¡¡staffing¡¡to¡¡provide¡¡in¡hospital¡¡coverage¡£¡¡While¡¡some¡¡radiology¡¡groups¡¡will¡¡
use¡¡teleradiology¡¡to¡¡ship¡¡images¡¡from¡¡the¡¡hospital¡¡to¡¡their¡¡home¡¡£¨or¡¡to¡¡Vail¡¡or¡¡Cape¡¡
Cod£»¡¡I¡¡suppose£©¡¡so¡¡that¡¡they¡¡can¡¡interpret¡¡images¡¡and¡¡provide¡¡a¡¡diagnosis¡¡24/7£»¡¡
apparently¡¡the¡¡smaller¡¡hospitals¡¡are¡¡shipping¡¡CAT¡¡scan¡¡images¡¡to¡¡radiologists¡¡abroad¡£¡¡
The¡¡advantage¡¡is¡¡that¡¡it¡¡is¡¡daytime¡¡in¡¡Australia¡¡or¡¡India¡¡when¡¡it¡¡is¡¡nighttime¡¡here¡so¡¡
after¡hours¡¡coverage¡¡becomes¡¡more¡¡readily¡¡done¡¡by¡¡shipping¡¡the¡¡images¡¡across¡¡the¡¡globe¡£¡¡
Since¡¡CAT¡¡£¨and¡¡MRI£©¡¡images¡¡are¡¡already¡¡in¡¡digital¡¡format¡¡and¡¡available¡¡on¡¡a¡¡network¡¡
with¡¡a¡¡standardized¡¡protocol£»¡¡it¡¡is¡¡no¡¡problem¡¡to¡¡view¡¡the¡¡images¡¡anywhere¡¡in¡¡the¡¡
world¡¡¡£¡£¡£¡¡I¡¡assume¡¡that¡¡the¡¡radiologists¡¡on¡¡the¡¡other¡¡end¡¡¡£¡¡¡£¡¡¡£¡¡must¡¡have¡¡trained¡¡
in¡¡£§the£§¡¡US¡¡and¡¡acquired¡¡the¡¡appropriate¡¡licenses¡¡and¡¡credentials¡£¡¡¡£¡¡¡£¡¡The¡¡groups¡¡
abroad¡¡that¡¡provide¡¡these¡¡after¡hours¡¡readings¡¡are¡¡called¡¡¡¨Nighthawks¡¨¡¡by¡¡the¡¡
American¡¡radiologists¡¡that¡¡employ¡¡them¡£¡¡Best£»¡¡Bill¡¡
Thank¡¡goodness¡¡I'm¡¡a¡¡journalist¡¡and¡¡not¡¡an¡¡accountant¡¡or¡¡a¡¡radiologist¡£¡¡There¡¡will¡¡
be¡¡no¡¡outsourcing¡¡for¡¡me¡even¡¡if¡¡some¡¡of¡¡my¡¡readers¡¡wish¡¡my¡¡column¡¡could¡¡be¡¡shipped¡¡
off¡¡to¡¡North¡¡Korea¡£¡¡At¡¡least¡¡that's¡¡what¡¡I¡¡thought¡£¡¡Then¡¡I¡¡heard¡¡about¡¡the¡¡Reuters¡¡
operation¡¡in¡¡India¡£¡¡I¡¡didn't¡¡have¡¡time¡¡to¡¡visit¡¡the¡¡Reuters¡¡office¡¡in¡¡Bangalore£»¡¡but¡¡
I¡¡was¡¡able¡¡to¡¡get¡¡hold¡¡of¡¡Tom¡¡Glocer£»¡¡the¡¡CEO¡¡of¡¡Reuters£»¡¡to¡¡hear¡¡what¡¡he¡¡was¡¡doing¡£¡¡
Glocer¡¡is¡¡a¡¡pioneer¡¡in¡¡the¡¡outsourcing¡¡of¡¡elements¡¡of¡¡the¡¡news¡¡supply¡¡chain¡£¡¡
With¡¡2£»300¡¡journalists¡¡around¡¡the¡¡world£»¡¡in¡¡197¡¡bureaus£»¡¡serving¡¡a¡¡
17¡¡
market¡¡including¡¡investment¡¡bankers£»¡¡derivatives¡¡traders£»¡¡stockbrokers£»¡¡newspapers£»¡¡
radio£»¡¡television£»¡¡and¡¡Internet¡¡outlets£»¡¡Reuters¡¡has¡¡always¡¡had¡¡a¡¡very¡¡complex¡¡
audience¡¡to¡¡satisfy¡£¡¡After¡¡the¡¡dot¡com¡¡bust£»¡¡though£»¡¡when¡¡many¡¡of¡¡its¡¡customers¡¡became¡¡
very¡¡cost¡conscious£»¡¡Reuters¡¡started¡¡asking¡¡itself£»¡¡for¡¡reasons¡¡of¡¡both¡¡cost¡¡and¡¡
efficiency£º¡¡Where¡¡do¡¡we¡¡actually¡¡need¡¡our¡¡people¡¡to¡¡be¡¡located¡¡to¡¡feed¡¡our¡¡global¡¡
news¡¡supply¡¡chain£¿¡¡And¡¡can¡¡we¡¡actually¡¡disaggregate¡¡the¡¡work¡¡of¡¡a¡¡journalist¡¡and¡¡keep¡¡
part¡¡in¡¡London¡¡and¡¡New¡¡York¡¡and¡¡shift¡¡part¡¡to¡¡India£¿¡¡
Glocer¡¡started¡¡by¡¡looking¡¡at¡¡the¡¡most¡¡basic¡¡bread¡and¡butter¡¡function¡¡Reuters¡¡
provides£»¡¡which¡¡is¡¡breaking¡¡news¡¡about¡¡company¡¡earnings¡¡and¡¡related¡¡business¡¡
developments£»¡¡every¡¡second¡¡of¡¡every¡¡day¡£¡¡¡¨Exxon¡¡comes¡¡out¡¡with¡¡its¡¡earnings¡¡and¡¡we¡¡
need¡¡to¡¡get¡¡that¡¡as¡¡fast¡¡possible¡¡up¡¡on¡¡screens¡¡around¡¡the¡¡world£º¡¡'Exxon¡¡earned¡¡
thirty¡nine¡¡cents¡¡this¡¡quarter¡¡as¡¡opposed¡¡to¡¡thirty¡six¡¡cents¡¡last¡¡quarter¡£'¡¡The¡¡core¡¡
competency¡¡there¡¡is¡¡speed¡¡and¡¡accuracy£»¡¨¡¡explained¡¡Glocer¡£¡¡¡¨You¡¡don't¡¡need¡¡a¡¡lot¡¡of¡¡
analysis¡£¡¡We¡¡just¡¡need¡¡to¡¡get¡¡the¡¡basic¡¡news¡¡up¡¡as¡¡fast¡¡as¡¡possible¡£¡¡The¡¡flash¡¡should¡¡
be¡¡out¡¡in¡¡seconds¡¡after¡¡the¡¡company¡¡releases£»¡¡and¡¡the¡¡table¡¡£§showing¡¡the¡¡recent¡¡history¡¡
of¡¡quarterly¡¡earnings£§¡¡a¡¡few¡¡seconds¡¡later¡£¡¨¡¡
Those¡¡sorts¡¡of¡¡earnings¡¡flashes¡¡are¡¡to¡¡the¡¡news¡¡business¡¡what¡¡vanilla¡¡is¡¡to¡¡the¡¡ice¡¡
cream¡¡business¡a¡¡basic¡¡commodity¡¡that¡¡actually¡¡can¡¡be¡¡made¡¡anywhere¡¡in¡¡the¡¡flat¡¡world¡£¡¡
The¡¡real¡¡value¡added¡¡knowledge¡¡work¡¡happens¡¡in¡¡the¡¡next¡¡five¡¡minutes¡£¡¡That¡¡is¡¡when¡¡
you¡¡need¡¡a¡¡real¡¡journalist¡¡who¡¡knows¡¡how¡¡to¡¡get¡¡a¡¡comment¡¡from¡¡the¡¡company£»¡¡a¡¡comment¡¡
from¡¡the¡¡top¡¡two¡¡analysts¡¡in¡¡the¡¡field£»¡¡and¡¡even¡¡some¡¡word¡¡from¡¡competitors¡¡to¡¡put¡¡
the¡¡earnings¡¡report¡¡in¡¡perspective¡£¡¡¡¨That¡¡needs¡¡a¡¡higher¡¡journalistic¡¡skill¡¡
set¡someone¡¡in¡¡the¡¡market¡¡with¡¡contacts£»¡¡who¡¡knows¡¡who¡¡the¡¡best¡¡industry¡¡analysts¡¡
are¡¡and¡¡has¡¡taken¡¡the¡¡right¡¡people¡¡to¡¡lunch£»¡¨¡¡said¡¡Glocer¡£¡¡
The¡¡dot¡com¡¡bust¡¡and¡¡the¡¡flattening¡¡of¡¡the¡¡world¡¡forced¡¡Glocer¡¡to¡¡rethink¡¡how¡¡Reuters¡¡
delivered¡¡news¡whether¡¡it¡¡could¡¡disaggregate¡¡the¡¡functions¡¡of¡¡a¡¡journalist¡¡and¡¡ship¡¡
the¡¡low¡value¡added¡¡functions¡¡to¡¡India¡£¡¡His¡¡primary¡¡goal¡¡was¡¡to¡¡reduce¡¡the¡¡overlap¡¡
Reuters¡¡payroll£»¡¡while¡¡preserving¡¡as¡¡many¡¡good¡¡journalism¡¡jobs¡¡as¡¡possible¡£¡¡¡¨So¡¡the¡¡
first¡¡thing¡¡we¡¡did£»¡¨¡¡said¡¡Glocer£»¡¡¡¨was¡¡hire¡¡six¡¡reporters¡¡in¡¡Bangalore¡¡as¡¡an¡¡
experiment¡£¡¡
18¡¡
We¡¡said£»¡¡'Let's¡¡let¡¡them¡¡just¡¡do¡¡the¡¡flash¡¡headlines¡¡and¡¡the¡¡tables¡¡and¡¡whatever¡¡else¡¡
we¡¡can¡¡get¡¡them¡¡to¡¡do¡¡in¡¡Bangalore¡£'¡¨¡¡
These¡¡new¡¡Indian¡¡hires¡¡had¡¡accounting¡¡backgrounds¡¡and¡¡were¡¡trained¡¡by¡¡Reuters£»¡¡but¡¡
they¡¡were¡¡paid¡¡standard¡¡local¡¡wages¡¡and¡¡vacation¡¡and¡¡health¡¡benefits¡£¡¡¡¨India¡¡is¡¡an¡¡
unbelievably¡¡rich¡¡place¡¡for¡¡recruiting¡¡people£»¡¡not¡¡only¡¡with¡¡technical¡¡skills¡¡but¡¡
also¡¡financial¡¡skills£»¡¨¡¡said¡¡Glocer¡£¡¡When¡¡a¡¡company¡¡puts¡¡out¡¡its¡¡earnings£»¡¡one¡¡of¡¡
the¡¡first¡¡things¡¡it¡¡does¡¡is¡¡hand¡¡it¡¡to¡¡the¡¡wires¡Reuters£»¡¡Dow¡¡Jones£»¡¡and¡¡Bloomberg¡for¡¡
distribution¡£¡¡¡¨We¡¡will¡¡get¡¡that¡¡raw¡¡data£»¡¨¡¡he¡¡said£»¡¡¡¨and¡¡then¡¡it's¡¡a¡¡race¡¡to¡¡see¡¡how¡¡
fast¡¡we¡¡can¡¡turn¡¡it¡¡around¡£¡¡Bangalore¡¡is¡¡one¡¡of¡¡the¡¡most¡¡wired¡¡places¡¡in¡¡the¡¡world£»¡¡
and¡¡although¡¡there's¡¡a¡¡slight¡¡delay¡one¡¡second¡¡or¡¡less¡in¡¡getting¡¡the¡¡information¡¡
over¡¡there£»¡¡it¡¡turns¡¡out¡¡you¡¡can¡¡just¡¡as¡¡easily¡¡sit¡¡in¡¡Bangalore¡¡and¡¡get¡¡the¡¡electronic¡¡
version¡¡of¡¡a¡¡press¡¡release¡¡and¡¡turn¡¡it¡¡into¡¡a¡¡story¡¡as¡¡you¡¡can¡¡in¡¡London¡¡or¡¡New¡¡York¡£¡¨¡¡
The¡¡difference£»¡¡however£»¡¡is¡¡that¡¡wages¡¡and¡¡rents¡¡in¡¡Bangalore¡¡are¡¡less¡¡than¡¡one¡fifth¡¡
what¡¡they¡¡are¡¡in¡¡those¡¡Western¡¡capitals¡£¡¡
While¡¡economics¡¡and¡¡the¡¡flattening¡¡of¡¡the¡¡world¡¡have¡¡pushed¡¡Reuters¡¡down¡¡this¡¡path£»¡¡
Glocer¡¡has¡¡tried¡¡to¡¡make¡¡a¡¡virtue¡¡of¡¡necessity¡£¡¡¡¨We¡¡think¡¡we¡¡can¡¡off¡load¡¡commoditized¡¡
reporting¡¡and¡¡get¡¡that¡¡done¡¡efficiently¡¡somewhere¡¡else¡¡in¡¡the¡¡world£»¡¨¡¡he¡¡said£»¡¡and¡¡
then¡¡give¡¡the¡¡conventional¡¡Reuters¡¡journalists£»¡¡whom¡¡the¡¡company¡¡is¡¡able¡¡to¡¡retain£»¡¡
a¡¡chance¡¡to¡¡focus¡¡on¡¡doing¡¡much¡¡higher¡value¡added¡¡and¡¡personally¡¡fulfilling¡¡
journalism¡¡and¡¡analysis¡£¡¡¡¨Let's¡¡say¡¡you¡¡were¡¡a¡¡Reuters¡¡journalist¡¡in¡¡New¡¡York¡£¡¡Do¡¡
you¡¡reach¡¡your¡¡life's¡¡fulfillment¡¡by¡¡turning¡¡press¡¡releases¡¡into¡¡boxes¡¡on¡¡the¡¡screen£»¡¡
or¡¡by¡¡doing¡¡the¡¡analysis£¿¡¨¡¡asked¡¡Glocer¡£¡¡Obviously£»¡¡it¡¡is¡¡the¡¡latter¡£¡¡Outsourcing¡¡
news¡¡bulletins¡¡to¡¡India¡¡also¡¡allows¡¡Reuters¡¡to¡¡extend¡¡the¡¡breadth¡¡of¡¡its¡¡reporting¡¡
to¡¡more¡¡small¡cap¡¡companies£»¡¡companies¡¡itwas¡¡not¡¡cost¡efficient¡¡for¡¡Reuters¡¡to¡¡follow¡¡
before¡¡with¡¡higher¡paid¡¡journalists¡¡in¡¡New¡¡York¡£¡¡But¡¡with¡¡lower¡wage¡¡Indian¡¡reporters£»¡¡
who¡¡can¡¡be¡¡hired¡¡in¡¡large¡¡numbers¡¡for¡¡the¡¡cost¡¡of¡¡one¡¡reporter¡¡in¡¡New¡¡York£»¡¡it¡¡can¡¡
now¡¡do¡¡that¡¡from¡¡Bangalore¡£¡¡By¡¡the¡¡summer¡¡of¡¡2004£»¡¡Reuters¡¡had¡¡grown¡¡its¡¡Bangalore¡¡
content¡¡operation¡¡to¡¡three¡¡hundred¡¡staff£»¡¡aiming¡¡eventually¡¡for¡¡a¡¡total¡¡of¡¡fifteen¡¡
hundred¡£¡¡Some¡¡of¡¡those¡¡are¡¡Reuters¡¡veterans¡¡sent¡¡out¡¡to¡¡train¡¡the¡¡Indian¡¡teams£»¡¡some¡¡
are¡¡reporters¡¡filing¡¡earnings¡¡flashes£»¡¡but¡¡most¡¡are¡¡journalists¡¡doing¡¡
19¡¡
slightly¡¡more¡¡specialized¡¡data¡¡analysis¡number¡¡crunching¡for¡¡securities¡¡offerings¡£¡¡
¡¨A¡¡lot¡¡of¡¡our¡¡clients¡¡are¡¡doing¡¡the¡¡same¡¡thing£»¡¨¡¡said¡¡Glocer¡£¡¡¡¨Investment¡¡research¡¡
has¡¡had¡¡to¡¡have¡¡huge¡¡amounts¡¡of¡¡cost¡¡ripped¡¡out¡¡of¡¡it£»¡¡so¡¡a¡¡lot¡¡of¡¡firms¡¡are¡¡using¡¡
shift¡¡work¡¡in¡¡Bangalore¡¡to¡¡do¡¡bread¡and¡butter¡¡company¡¡analysis¡£¡¨¡¡Until¡¡recently¡¡the¡¡
big¡¡Wall¡¡Street¡¡firms¡¡had¡¡conducted¡¡investment¡¡research¡¡by¡¡spending¡¡millions¡¡of¡¡
dollars¡¡on¡¡star¡¡analysts¡¡and¡¡then¡¡charging¡¡part¡¡of¡¡their¡¡salaries¡¡to¡¡their¡¡
stockbrokerage¡¡departments£»¡¡which¡¡shared¡¡the¡¡analysis¡¡with¡¡their¡¡best¡¡customers£»¡¡and¡¡
part¡¡to¡¡their¡¡investment¡¡banking¡¡business£»¡¡which¡¡sometimes¡¡used¡¡glowing¡¡analyses¡¡of¡¡
a¡¡company¡¡to¡¡lure¡¡its¡¡banking¡¡business¡£¡¡In¡¡the¡¡wake¡¡of¡¡New¡¡York¡¡State¡¡Attorney¡¡General¡¡
Eliot¡¡Spitzer's¡¡investigations¡¡into¡¡Wall¡¡Street¡¡practices£»¡¡following¡¡several¡¡
scandals£»¡¡investment¡¡banking¡¡and¡¡stockbrokerage¡¡have¡¡had¡¡to¡¡be¡¡distinctly¡¡
separated¡so¡¡that¡¡analysts¡¡will¡¡stop¡¡hyping¡¡companies¡¡in¡¡order¡¡to¡¡get¡¡their¡¡investment¡¡
banking¡£¡¡But¡¡as¡¡a¡¡result£»¡¡the¡¡big¡¡Wall¡¡Street¡¡investment¡¡firms¡¡have¡¡had¡¡to¡¡sharply¡¡
reduce¡¡the¡¡cost¡¡of¡¡their¡¡market¡¡research£»¡¡all¡¡of¡¡which¡¡has¡¡to¡¡be¡¡paid¡¡for¡¡now¡¡by¡¡their¡¡
brokerage¡¡departments¡¡alone¡£¡¡And¡¡this¡¡created¡¡a¡¡great¡¡incentive¡¡for¡¡them¡¡to¡¡outsource¡¡
some¡¡of¡¡this¡¡analytical¡¡work¡¡to¡¡places¡¡like¡¡Bangalore¡£¡¡In¡¡addition¡¡to¡¡being¡¡able¡¡to¡¡
pay¡¡an¡¡analyst¡¡in¡¡Bangalore¡¡about¡¡15£»000¡¡in¡¡total¡¡compensation£»¡¡as¡¡opposed¡¡to¡¡80£»000¡¡
in¡¡New¡¡York¡¡or¡¡London£»¡¡Reuters¡¡has¡¡found¡¡that¡¡its¡¡India¡¡employees¡¡tend¡¡to¡¡be¡¡
financially¡¡literate¡¡and¡¡highly¡¡motivated¡¡as¡¡well¡£¡¡Reuters¡¡also¡¡recently¡¡opened¡¡a¡¡
software¡¡development¡¡center¡¡in¡¡Bangkok¡¡because¡¡it¡¡turned¡¡out¡¡to¡¡be¡¡a¡¡good¡¡place¡¡to¡¡
recruit¡¡developers¡¡who¡¡had¡¡been¡¡overlooked¡¡by¡¡all¡¡the¡¡Western¡¡companies¡¡vying¡¡for¡¡
talent¡¡in¡¡Bangalore¡£¡¡
I¡¡find¡¡myself¡¡torn¡¡by¡¡this¡¡trend¡£¡¡Having¡¡started¡¡my¡¡career¡¡as¡¡a¡¡wire¡¡service¡¡reporter¡¡
with¡¡United¡¡Press¡¡International£»¡¡I¡¡have¡¡enormous¡¡sympathy¡¡with¡¡wire¡¡service¡¡reporters¡¡
and¡¡the¡¡pressures£»¡¡both¡¡professional¡¡and¡¡financial£»¡¡under¡¡which¡¡they¡¡toil¡£¡¡But¡¡UPI¡¡
might¡¡still¡¡be¡¡thriving¡¡today¡¡as¡¡a¡¡wire¡¡service£»¡¡which¡¡it¡¡is¡¡not£»¡¡if¡¡it¡¡had¡¡been¡¡able¡¡
to¡¡outsource¡¡some¡¡of¡¡its¡¡lower¡end¡¡business¡¡when¡¡I¡¡started¡¡as¡¡a¡¡reporter¡¡in¡¡London¡¡
twenty¡five¡¡years¡¡ago¡£¡¡
¡¨It¡¡is¡¡delicate¡¡with¡¡the¡¡staff£»¡¨¡¡said¡¡Glocer£»¡¡who¡¡has¡¡cut¡¡the¡¡entire¡¡Reuters¡¡staff¡¡
by¡¡roughly¡¡a¡¡quarter£»¡¡without¡¡deep¡¡cuts¡¡among¡¡the¡¡reporters¡£¡¡The¡¡Reuters¡¡staff£»¡¡he¡¡
said£»¡¡understand¡¡that¡¡this¡¡is¡¡being¡¡done¡¡so¡¡
that¡¡the¡¡company¡¡can¡¡survive¡¡and¡¡then¡¡thrive¡¡again¡£¡¡At¡¡the¡¡same¡¡time£»¡¡said¡¡Glocer£»¡¡
¡¨these¡¡are¡¡sophisticated¡¡people¡¡out¡¡reporting¡£¡¡They¡¡see¡¡that¡¡our¡¡clients¡¡are¡¡doing¡¡
the¡¡exact¡¡same¡¡things¡£¡¡They¡¡get¡¡the¡¡plot¡¡of¡¡the¡¡story¡¡¡£¡¡¡£¡¡¡£¡¡What¡¡is¡¡vital¡¡is¡¡to¡¡be¡¡
honest¡¡with¡¡people¡¡about¡¡what¡¡we¡¡are¡¡doing¡¡and¡¡why¡¡and¡¡not¡¡sugarcoat¡¡the¡¡message¡£¡¡
I¡¡firmly¡¡believe¡¡in¡¡the¡¡lesson¡¡of¡¡classical¡¡economists¡¡about¡¡moving¡¡work¡¡to¡¡where¡¡
it¡¡can¡¡be¡¡done¡¡best¡£¡¡However£»¡¡we¡¡must¡¡not¡¡ignore¡¡that¡¡in¡¡some¡¡case