Category: economy

art, books, creativity, economy, education, jazz, music, New York City, politics, society

Moving to Higher Ground: How Jazz Can Change Your Life

Christa Avampato

I gave up my horn about 10 years ago because truth be told I wasn’t even mediocre, and even if I practiced for hours a day I’d never be great. I want to be a lot things, but I have no intention of getting in the habit of spending my time being mediocre. I love jazz, but I couldn’t play it. I just don’t have that ability. My creativity is in my writing. 


So for years now I have socked away all of the academic knowledge I built up around the music. (I studied it for a year in college and played in a few different bands.) People ask me if I miss playing, and truth be told I don’t. I never even think about it. Playing music doesn’t hold any kind of magic for me, but I still very much enjoy listening to it, and really what I enjoy is the history, all of the stories that come along with musicians. And there are plenty of stories to go around. 


My brother is a trumpet player and because he is 6 years older than me, I learned about Wynton Marsalis and the Marsalis family at a very young age. When I saw that Wynton would be at my local Barnes and Noble I decided to go hear some of his stories. He was so engaging and charming that I bought his book on sight, which I never do at author readings. And once I started reading Moving to High Ground: How Jazz Can Change Your Life, I couldn’t put it down. (And it helps that his co-author is the brilliant and well-spoken historian, Geoffrey Ward.)


For me the genius of this book is not to tell you about all the drugs that musicians have done, or all the women they’ve had or how down and out and poor they were. It talks about what the music has to teach us about living other aspects of our lives. How we treat each other. It teaches us about acceptance and nurturing and compassion. Wynton lays out the value is studying jazz not to be great, but to realize a certain aspect of humanity that comes through generosity.  Its is a living, breathing thing that connects the generations. It allows us to learn from generations of people who were long gone before we were every a twinkle in our parents’ eyes.  


Wynton goes on to talk about how we all hear something different in the music. He talks about arrogance and greed and the darker sides of our personalities that the music uncovers. But mostly he talks about how musicians with disparate styles can come together, should come together, to create something wholly different than they could ever make on their own. Nobody gets through this world alone in the same way that no jazz musician builds a career alone. Jazz is a way of capturing what it means to be out and about in this world. It’s a way of sharing that experience with others whom we will never meet but for whom our music could be a beacon of freedom if we are strong enough to tell our own stories, look them in the eye, and harvest the very best of what they have to teach us.


Wynton’s thoughts on community come at a particularly poignant time. Throughout the book I thought a lot of about the state of our world. How scary all these moving parts are – the economy, our national security, our political systems, health care, education. There is a lot to be afraid, maybe even more to be afraid of than at any other time in our history. What jazz, and musicians like Wynton teach us, is that the only way we can be safe is to let go of that fear with the confidence that those around us will support us. Their harmonies will carry us through. And if all else fails at least the swingin’ will give us enough encouragement to keep our chins up and the rest of us moving forward with grace.  

China, economy, friendship, Olympics, simplicity

What no one tells us about China

Christa Avampato

Last night, my friend Allan and I had dinner at Barbuto, an Italian place in the West Village that I have been meaning to try for a year. Allan is going away for 6 months – off to Singapore for work. I’m a little jealous of Allan – part of me misses flying off to a new place every week. And then I remind myself that I should be careful what I wish for.


Allan is one of my dearest friends from business school. If you had to 5 people from your life who were cheering for you, you’d want Allan there. His loyalty to his friends is something to be admired. And his work ethic would leave any American student in disbelief. He got an MBA and a half out of Darden; he put the rest of us to shame. Usually Allan and I talk about books and work ad what every crazy little projects that are taking my time these days. But last night turned to the topic of romantic relationships. Allan is confused by women. I smiled. 

Allan explained to me that in China, things are not complicated. Love included. People live a simple and diligent life. In a planned economy, there isn’t all this choice that we have here in the U.S. Nothing is really all that trying. An absence of angst.

And now when I reflect back on those Olympics Games and those inspiring, creative beyond measure, ceremonies that preceded and closed them, I understand how they came to be so precise, so perfect. They were singularly focused, the entire nation. They are unencumbered by a multitude of choices and complications. 

Now, I’m not advocating for a planned economy. I’m saying that we have more to learn from the Chinese people than we ever imagined. Their creativity and their passion is built around simplicity. And the question I’m left with is I wonder if we, as Americans, could get out of our own and get focused. It might be out only hope out of so many problems that are plaguing us.  
corporation, economy, magazine, money, The Economist

A By-product of a Tough Economy: Enemies as Friends, or at Least as Willing Partners

Christa Avampato

I don’t know anyone who says, “Thank God the economy is tanking!” That doesn’t mean there aren’t some positive, and unexpected, side effects of our latest economic decline. With dollars scarce, investors leery, and earnings expectations scrutinized like never before, companies previously considered bitter enemies are sharing marketing dollars, cross-promoting one another, and sharing best practices.


And we’re not just talking about retailers like Bed, Bath, and Beyond and The Container Store who have a very small amount of overlap in product. This week in The Economist there is an article detailing that even bitter rivals like the New York Post and the Daily News are discussing ways to share distribution; car companies are considering the co-production of common parts. 

These kinds of previously unheard of collaborations beg the question about competition: Is the competition level to the extent that we have it in the U.S. necessary, or even sustainable? Is it good for us? I don’t doubt that healthy competition is the basis of a stable free economy; it is the corner stone of a capitalistic society. But is too much competition, well, too much?

I think about all the choices that we have in grocery stores, big box retailers, car lots, and the endless supply of different brands of products available on-line that do essentially the same thing. Look at all our choices of social networks and on-line communities. My friend, Jon, and I were discussing the likelihood that at some point some of them have to die out or merge. Maybe the same is true for companies like newspapers, retailers, and car manufacturers. Tough times can make strange, though perhaps necessary, bedfellows. And maybe they’ll even persist once we come out the other side of this latest downturn. In difficult times, maybe we learn to mend fences and see their value even when we don’t have our backs against the wall.             
business, Business Week, economy, environment, money, recycle

Cash for Trash

Christa Avampato

Who doesn’t need a little extra money these days? Pretty soon you may need to look no further than your trash can. This week, Business Week ran an article on the recycling and waste – an area of our economy that is booming despite the loses being felt in many other industries. Green collar jobs and green collar crime are on the rise, mostly in the area of how to use trash. VC and PE firms are tripping over themselves to invest in new trash technologies, throwing a million ideas at the wall and hoping that a couple of them stick. 


You really want to make some money in trash? Figure out the most efficient way to sort it. As with so many other projects that require a clear, concise reason for being, the value of trash is in the edit. And there isn’t a top of the line sorting system out there that does away with ever form of human sorting. What we need is a WALL-E. Actually, we need thousands of them. And some people still think that cartoons are only for entertaining kids! Who knew those folks over at Pixar were moonlighting environmental engineers? 

career, economy, job, money

Advice for Young People in Tough Economic Times

Christa Avampato

Money concerns and economic worries are top of mind for nearly everyone in my life at the moment. Front page news, top of the evening nightly news broadcasts, and the subject of blog post after blog post. As an econ major and MBA, I’m fascinated by the psychology of money and it’s ability to shape the quality of our lives just by the very perception we have of it. Feelings and emotions move markets at a mad pace.

For young people, these tough economic times are particularly worrisome. High debt from school, fewer job prospects, trepidation about their very lengthy futures. It can be discouraging, though I think there is reason for hope. This week, CNN Money offered up advice from a variety of people from money managers to authors. I didn’t agree with all of the advice, but wanted to add my own anecdote and advice about money in the hopes that it’s helpful in these troubled times. 

1.) Regardless of the economic situations, there are jobs out there for people who are diligent, ambitious, and optimistic. In a bad economy, many people assume they can’t find a job and don’t even bother to look. Take advantage of that and cast a wide net. 

2.) Use new technology to control your spending, especially on your credit cards. Sites like Mint.com and AmericanExpress.com offer text messaging and emails of balances to help you keep tabs of where you are in your spending so you aren’t surprised at the end of the month when you receive your bills. American Express also offers a myriad of on-line consumer resources with tips and advice to help you manage your financial life.

3.) Stay diversified – and not just in your portfolio, but in your career, too! Most people I know work hard at their day job without having anything other source of income. As you get further in your career, think about how your skills can be utilized in a freelance capacity that you enjoy. It gives you extra money to sock away when times get tough or unexpected expenses arise (case in point – my recent car troubles), you’ll be more in control of your career and finances as opposed to the company you work for having all of that control, you’ll build your network, and if you are the subject of a layoff, cut in salary, etc. during a downturn in the economy, you’ll have a bit of a cushion to tide you through a job search or switch. You’re the CEO of your career – make sure you’re watching out for it. 

Would welcome any comments an other suggestions. Times like this require group action and efforts – a rising tide lifts all boats. 

career, economy, education, money, Real Simple, relationships, travel

A framework for getting through tough times, economic or otherwise

Christa Avampato

With the current state of the economy, every news cast, newspaper, magazine, and radio station has been offering a nightly segment on making our money go further by cutting expenses, shifting our investments, and finding places with bargains. Money experts like Jean Chatzky and Suze Orman are encouraging us to live within or below our means, pay down bad debt, and save, save, save. While a lot of these tips are very helpful, they are just that – suggestions and tips. I haven’t seen a consistent, customizable framework to help us cope with specific, difficult challenges we’re facing on so many fronts. Until yesterday.


I’ve been a loyal subscriber to Real Simple Magazine for several years. I look forward to its arrival each month and it’s one of the few publications I read cover to cover every time. This month, their resident motivator, Gail Blanke, wrote a column entitled “How to Thrive in Tough Times.” I expected another set of high quality tips and hints on personal cost cutting. What I found instead was much more valuable. 


A personal and executive coach, Gail offered exactly the kind of framework I have been looking for when evaluating a challenge and formulating a way to overcome it. A fun five-step process takes us through naming and evaluating the challenge, considering possibilities, and then taking action. 


Step 1 involves naming the problem in a discrete way and then asking, “can we do anything about our situation to quickly make the problem disappear?” If no, proceed to step 2. Gail’s example in the article talks about a family who can’t afford to take vacation this year because of the tough economy. 


Step 2 we consider all of the things we’re missing out on or losing as a result of the problem. This can be an emotional coming to terms so take your time going through this step, face each fear and loss head-on, and then keep going. 


Step 3 now that we have faced what we’re losing, consider a new possibility. This can be the most difficult step because we now have to let go of what we are losing and imagine a new reality. Eventually, the family Gail was working with formulated the big idea of having a vacation at home. 


Step 4 now the fun begins. It’s time for imagining impossible things in the hope that we can make some of them possible. This is a free-for-all brainstorm. No idea is a bad idea in step 3 – get it all out there without considering limitations. This is your license to get completely carried away. The family in Gail’s example came up with ideas like taking Latin dance lessons together, cooking classes, and visiting all of the local museums in town.


Step 5 leads us on the path to reflection. We put the best of the ideas from step 4 into action, and put our best foot forward in making them a reality. No half-hearted efforts here. And then carefully consider how this new found possibility is different and even better than the opportunity we had to miss out on in these tough times. Step 5 will be a work in progress for some time, and it may teach us that while the hard times are tough to initially confront, they end up creating the circumstances for which we are most grateful. 


I hope this framework helps us all consider new realities that we must create in order to move forward, even in the toughest of times. It’s valid for personal matters, as well as professional, and can be used by anyone regardless of circumstances. It has enough structure to serve as a gentle guide and enough flexibility to make it valid in a myriad of situations. It can be used by individuals, families, and companies. Many thanks to Gail and Real Simple for finally offering up a tool that we’ll be able to use for many years to come. 

economy, environment, happiness, travel

Gross National Happiness (GNH)

Christa Avampato

I’m starting to feel panic at the pump. In Rhode Island this past weekend, I paid $3.99 for a gallon of gas. When I arrived home, I found this week’s issue of Business Week waiting for me. Some energy sector analysts are predicting $200 / barrel oil by the fall of this year. Wal-mart and Costco are placing limits on the amount of rice any one customer can buy. Food bills, air fares, electricity prices are all climbing. And then there’s the real estate market.


On my long drive home from work, I often consider whether or not we did this to ourselves. Our consumption level is frighteningly high. In this country we seem unable to be happy with what we’ve got – it’s embedded in us, as Americans, that we always strive for more. 


While we are obsessed with measuring GDP, other nations in the world have different benchmarks. The country of Bhutan considers GNH, Gross National Happiness, an indicator of societal well-being. A while back I found the following definition and history of the term GNH:


“Coined by Bhutan’s King Jigme Singye Wangchuck, Gross National Happiness (GNH) measures actual well-being of a country’s citizens rather than consumption, accounting more fully for social, human and environmental realities. Its premise is that basic happiness can be measured since it pertains to quality of nutrition, housing, education, health care and community life. By contrast, the conventional concept of Gross National Product (GNP) measures only the sum total of material production and exchange in any country:


Promotion of equitable and sustainable socio-economic development

Preservation and promotion of cultural values

Conservation of the natural environment

Establishment of good governance    


At the GNH International Conference in 2004, participants adopted a declaration that said that the facilitation of GNH should be accompanied by “the development of indicators that address human physical and emotional well-being. They must be capable of use for self-evaluation, so that individuals and groups may gauge their progress in the attainment of happiness. In addition, indicators should facilitate full accountability, good governance, and socially constructive business practices, both in day-to-day life and in long-range policies and activities.”   


So while we weather this latest economic situation, the consideration of alternate indicators is at least worth a few moments of time. After all, if you’re going to wait out a storm, you might as well have some reading material that gives you hope for a better tomorrow. Learn more at http://www.grossinternationalhappiness.org


The images above can be found at http://www.transitionsabroad.com/publications/magazine/0411/Bhutan_Monastery.jpg

economy, politics, writing

A Topic for Controversy

Christa Avampato

When a thing ceases to be a subject of controversy, it ceases to be a subject of interest.
~ William Hazlitt, English essayist and literary critic

Another milestone for this blog- my 200th post in less than 9 months. Not too bad. Constantly writing leads me to constantly think about topics of interest, and as a result of topics of controversy. At work, we always seem to be shoulder-deep in the later. And while it’s all well-intentioned, it can on occassion be tiresome. However, the controversy is necessary if we are to move forward.

I freely admit that I have a distinct reluctance to engage in controversy. Not that I have a problem with carving my own path, considering and re-considering emotional and complicated issues, or speaking my mind. On the contrary, I excel at all three of those things. What I have a tough time with is belaboring number after number with no consideration of the information contained within those numbers. I have little tolerance for the constant rehashing of the same material over and over again. I can’t stand constant controversy over a single topic. I am a firm believer in the “get on board this ship or find a new one” when it comes to the strategic direction of a company. And some times I get on board, and some times I bail. But I never get on board if I don’t fully believe that the ship is being steered by an able navigator. Once the controversy is settled, the real work of moving down the chosen path begins. A company can’t move forward while the seas of controversy rage.

This time of year there is plenty of controversy to go around – what to do about the economy, the next Presidential administration, our own foreign relations, the war in Iraq, our environment, and the list goes on. No matter what side of the fence we fall on with these issues, the interest and passion has yet to wane. And for that, I’m grateful. We don’t have the best answers yet. We have huge problems in this world, and we need the controversy and its companion, interest, to unearth the the best solutions. However, at some point soon, on many if not all of these topics, we will have to make a choice. As one co-worker said to me recently as we left a particularly heated meeting “it’s amazing how quickly something gets done when it absolutely has to get done.” At that point, the topic of controversy has to shift to resolution, as does the interest of those involved.

economy, election, environment, green, politics, worry

Control the controllable

Christa Avampato

“I kept myself calm by making sure I didn’t concentrate on anything I couldn’t control.”
–B.J. Bedford, Olympic swimmer

BJ Bedford barely made the U.S. Olympic swim team in 1996 and then went on to win the gold at Sydney just four years later. If this mantra worked for her, I believe it can work for all of us. A lot of our anxiety as a society, and as individuals, is driven off the unknown fed by a focus on things we cannot control.

I worry a lot, as I have written about several times on this site. I worry about the economy, our environment, terrorism, about the states of education and healthcare. I worry that George Bush has damaged our nation so badly on so many levels that it may take all of the effort of the next administration, Democrat, Republican, or otherwise, four years just to get us back to where we were at the end of Bill Clinton’s Presidency. What do I control in these situations? What can I actually do to contribute?

The economy: I am an ardent saver. I live within my means, and most often below them. I do my best to make smart investments. I show up every day at my desk at work and do the very best I can in every moment. I look to buy products that make a difference, be that they are more environmentally friendly, healthier, or provide a benefit to those who manufacture them such as fair trade farmers. I watch the market, and I educate myself on the actions of the Fed and policy makers that can move the needle.

I try to propagate peace and tolerance in the environments I make my life in, hoping that I can inspire other people to do the same. I recycle, and I make every effort to always use less, whether it’s energy, paper, water, or any other natural resource.

And as far as George Bush – I do my best. I voted for the other candidates both times, mostly because I refuse to vote for anyone who is incapable of stringing five correctly pronounced words together to make a coherent sentence. Plus, I fundamentally disagree with his stance on nearly every issue. I control what I can control.

My politics aside, there is a lesson for all of us in BJ Bedford’s quote. What I do to maintain control is nothing extraordinary. They are choices I simply make by being aware of the world around me. It may be worth it to make a list of what’s in our control and what’s not in any given situation in which we feel stressed. The list can serve as a visual cue to help us refocus our energies and efforts so that we can generate a sense of calm both within ourselves and for those around us.

The photo above can be found at: http://www.colly.com/images/uploads/control_poster_420.jpg