Nearly three years after completing my Bosch Fellowship year, I feel it is appropriate to provide a status update that reflects on the activities in the months and years after returning from Germany. How did my Bosch experience shape my present?
Please stay tuned for in-depth reports and insights.
Monday, December 12, 2011
Wednesday, March 18, 2009
Understanding Deutsche Bank Credit Risk Management
This afternoon, after receiving a most-generous invitation, I attended an in-house workshop titled, Credit Risk Management - Foundations of Risk Management. Along with 6 other young Deutsche Bank trainees/employees, I made myself comfortable in the plush black leather chairs of a small conference room on the top floor of the historic Deutsche Bank building located on the famous boulevard in Berlin: Unter den Linden.
After introducing ourselves, we brainstormed about what factors should be considered when compiling a credit rating for an organization. There were categorized by "hard" and "soft" factors. Hard factors were the quantifyable and objective measures such as financial data, ratios, historic data, forecasts, and account information. These constitute the core of ratings. Also of importance were the soft factors such as management, legal forms, market position, peer benchmarking, industry branch, and information from customers and suppliers.
Deutsche Bank, like other financial institutions, have their own credit rating system similar to the big credit rating agencies such as Fitch, Moody's, and S&P. These are comparable in that they are in part derived from the statistical likelihood of the organization's default within the year. After learning what offices use these ratings and for what they are used for, we looked at how the EBITDA (earnings before interest, taxes, depreciation, and amortization) is a key number for creditors because it represents the earnings that need to doled out to creditors, the tax authorities, and depreciation and amortization expenses. The question is, "is there sufficient cash flow to finance working capital (especially for high-growth or high-investment orgs) AND have enough left over for the creditor banks?" Further, we discussed the main drivers of income statement forecasting. (Thankfully, my Financial Statement Analysis class at GWU with Professor Kang was still more or less fresh in my mind. Thanks Prof. Kang!) Then we delved into the types of collateral and security can be negotiated to protect against the very sad and devastating consequences of forced liquidation at bankruptcy. Finally, we learned about the communication and cooperation between the risk management team and the corporate relationship managers as well as how the ratings are updated.
To do: learn more about the following topics:
- Asset trading clause
- Hedging credit risk using capital markets
- Disputing credit ratings
- Financing working capital
Along with the deeper understanding of credit risk management, I was excited about learning in this kind of format. Even though we stayed in the conference room until 8:30 pm, I felt like this interaction was so stimulating that I could have gone on for another 3 hours. I feel really lucky to be able to be looped into this great organization and get all this training in transaction banking, cash management, trade finance, mid-cap corporate relationship management, and special debt finance. Thank you Deutsche Bank and the whole Corporate and Investment Banking team in Berlin!
Sunday, March 15, 2009
A weekend in Lübeck "the queen of the Hansa" and Hamburg
The weekend of March 14-15 was an ideal time to leave Berlin and the state of Schleswig Holstein was the ideal destination for a quick trip. After meeting up with Mike and taking a quick detour we left on the ICE train from the central train in Berlin, the Hauptbahnhof. The quiet train ride in the comfortable Deutsche Bahn is always a good time to leaf through travel guides and review material describing the destination city, especially when traveling the flat, dull, and uninteresting landscape of northern Germany around Berlin and Brandenburg. We had to change trains in Hamburg and we took advantage of the 20 free minutes to walk though the downtown and grab some lunch. To my surprise, looking out of the windows regional train, there were actually rolling hills! A quick stop in a suburb of Reinfeld (Holst) was all between us and the destination city of Lübeck. Upon arrival, we checked into the small but clean hotel just around the corner of the train station and immediately headed into the city of Lübeck.
Stops included the tourist information center, the Holstentor Museum, Marienkirche, Salzspeicher, and the Cafe Niederegger. For dinner, we found a traditional Lübecker kitchen named the Kartoffelkeller (potato cellar).
The next morning got started with an astoundingly-prosperous buffet breakfast in the hotel and picking up audio guides. These were the best decision so far: the narrators of the audio guide were posing as Heinrich and Thomas Mann, the two famous novelists who grew up in the city and the tour was dotted with short stories and dialogue between the two brothers. This amusing guide was very thorough in that we hit all the main sights in the city as well as hidden nooks and crannies. Stops included the Rathaus Markt, St Jakobi church, St Marienkirche, devil on stone, Buddenbrook Haus, Schabbelhaus, Hellgrüner Gang, Schiffergesellschaft, Heiligen-Geist Hospital, and Burgtor. Walking around for three hours was tiring, so we had lunch at the Fisch-Hütte on the waterfront before hopping on the train.
In Hamburg, Mike and I met up with a fellow Boschie named Arrus who is working in this city for his second stage. We had some beverages on the Alter Lake in the center of Hamburg and caught up before returning to Berlin.
It was a good weekend with lots of history and getting to know northern Germany and the state of Scchleswig Holstein. I like Germany.
Listening: The audio guides were a great resource. I highly recommend them. Here I am hearning the Mann brothers talking about the neighborhood streets i am walking through.
Lübecker Rathaus / Town Hall : Mike and I in front of this famous architectual gem.
The Lübeck waterfront: this city is completely surrounded by a river and canal, making it a picture-perfect, densely populated, medieval city. The architectual trademark of this region are the crow-stepped gables that consist of a flat facade in front of the building that extends above the roof, making the house look bigger than it really is. Very cool.
Hello Helga!: On our quick layover in Hamburg on the way to Lübeck, Helga was created in the Legoland store and joined us on our trip. She was a great companion but did not talk too much.
The Devil and I: Here is the story of the devil's figure on the devil's stone (from a placard on the wall). "When the first stones of St. Mary were laid, the devil believed that this building would become a wine bar. He liked the idea, because many souls had already found their way to him after frequently visiting such a place. So he mixed with the crowd and started to help the workers. No wonder that the building grew higher and higher amazingly fast. But one day the devil had to realize what the building would really be. Full of anger he grabbed a huge boulder to smash the walls that were already standing. He was just flying near through the air when a bold fellow shouted at him: "Just stop it, Mr. Devil! Leave what has already been erected! For you we will build a wine bar just here in the neighborhood!" The devil was very pleased with this idea. He dropped the boulder beside the wall, where it is still lying until this day. One can still see the devil's claws on the stone. And just opposite the church the workers built the wine cellar of the Town Hall." - I found this amusing. Too bad we had no time to visit this infamous wine hall!
The vehicles of wealth: model ships in the Holstentor Museum.
All white: Mike in the St Petri church.
What is meant by "hansa"? The Hanseatic League (also known as the Hansa) was an alliance of trading cities and their guilds that established and maintained trade monopoly along the coast of Northern Europe, from the Baltic to the North Sea and inland, during the Late Middle Ages and Early modern period (c.13th–17th centuries). The Hanseatic cities had their own law system and furnished their own protection and mutual aid. Hansa cities such as Lübeck and Hamburg became fabulously wealthy from trading and built amazing monuments to show off their status. This resonates with my trade in trade and investment and reinforces the power of trade.
Dinner at Kartoffelkeller: delicious baked herring in rustic cellar restaurant.
Eerie and probably haunted: the Lübeck Dome at night.
"Allen zu gefallen ist unmöglich": this motto is written on the columns in front of the "Schiffergesellschaft", the lavish seaman's guild house. It means, "it is impossible to please everyone".
Organ at St Jakobs church.
Hotel Stadt Lübeck: our modest hotel just steps from the train station.
The light green passage: during the boom years, the city made use of the spacious backyards of the townhouses to build small, 1 story homes. Remember that since the city was physically restricted from expansion because it was an island, it burst at the seams when the population boomed. To access these backyards, small tunnels were made through the front house. This Hellgrüner Gang was almost impossible to find. But I'm glad we did because it opened a small world hidden from the streets.
Backyard house clusters: Lübeck's small houses behind the front townhomes are quaint and well maintained.
Buddenbrook Haus
Lachsbrötchen: a delicious lunch on the waterfront.
Stops included the tourist information center, the Holstentor Museum, Marienkirche, Salzspeicher, and the Cafe Niederegger. For dinner, we found a traditional Lübecker kitchen named the Kartoffelkeller (potato cellar).
The next morning got started with an astoundingly-prosperous buffet breakfast in the hotel and picking up audio guides. These were the best decision so far: the narrators of the audio guide were posing as Heinrich and Thomas Mann, the two famous novelists who grew up in the city and the tour was dotted with short stories and dialogue between the two brothers. This amusing guide was very thorough in that we hit all the main sights in the city as well as hidden nooks and crannies. Stops included the Rathaus Markt, St Jakobi church, St Marienkirche, devil on stone, Buddenbrook Haus, Schabbelhaus, Hellgrüner Gang, Schiffergesellschaft, Heiligen-Geist Hospital, and Burgtor. Walking around for three hours was tiring, so we had lunch at the Fisch-Hütte on the waterfront before hopping on the train.
In Hamburg, Mike and I met up with a fellow Boschie named Arrus who is working in this city for his second stage. We had some beverages on the Alter Lake in the center of Hamburg and caught up before returning to Berlin.
It was a good weekend with lots of history and getting to know northern Germany and the state of Scchleswig Holstein. I like Germany.
Listening: The audio guides were a great resource. I highly recommend them. Here I am hearning the Mann brothers talking about the neighborhood streets i am walking through.
Lübecker Rathaus / Town Hall : Mike and I in front of this famous architectual gem.
The Lübeck waterfront: this city is completely surrounded by a river and canal, making it a picture-perfect, densely populated, medieval city. The architectual trademark of this region are the crow-stepped gables that consist of a flat facade in front of the building that extends above the roof, making the house look bigger than it really is. Very cool.
Hello Helga!: On our quick layover in Hamburg on the way to Lübeck, Helga was created in the Legoland store and joined us on our trip. She was a great companion but did not talk too much.
The Devil and I: Here is the story of the devil's figure on the devil's stone (from a placard on the wall). "When the first stones of St. Mary were laid, the devil believed that this building would become a wine bar. He liked the idea, because many souls had already found their way to him after frequently visiting such a place. So he mixed with the crowd and started to help the workers. No wonder that the building grew higher and higher amazingly fast. But one day the devil had to realize what the building would really be. Full of anger he grabbed a huge boulder to smash the walls that were already standing. He was just flying near through the air when a bold fellow shouted at him: "Just stop it, Mr. Devil! Leave what has already been erected! For you we will build a wine bar just here in the neighborhood!" The devil was very pleased with this idea. He dropped the boulder beside the wall, where it is still lying until this day. One can still see the devil's claws on the stone. And just opposite the church the workers built the wine cellar of the Town Hall." - I found this amusing. Too bad we had no time to visit this infamous wine hall!
The vehicles of wealth: model ships in the Holstentor Museum.
All white: Mike in the St Petri church.
What is meant by "hansa"? The Hanseatic League (also known as the Hansa) was an alliance of trading cities and their guilds that established and maintained trade monopoly along the coast of Northern Europe, from the Baltic to the North Sea and inland, during the Late Middle Ages and Early modern period (c.13th–17th centuries). The Hanseatic cities had their own law system and furnished their own protection and mutual aid. Hansa cities such as Lübeck and Hamburg became fabulously wealthy from trading and built amazing monuments to show off their status. This resonates with my trade in trade and investment and reinforces the power of trade.
Dinner at Kartoffelkeller: delicious baked herring in rustic cellar restaurant.
Eerie and probably haunted: the Lübeck Dome at night.
"Allen zu gefallen ist unmöglich": this motto is written on the columns in front of the "Schiffergesellschaft", the lavish seaman's guild house. It means, "it is impossible to please everyone".
Organ at St Jakobs church.
Hotel Stadt Lübeck: our modest hotel just steps from the train station.
The light green passage: during the boom years, the city made use of the spacious backyards of the townhouses to build small, 1 story homes. Remember that since the city was physically restricted from expansion because it was an island, it burst at the seams when the population boomed. To access these backyards, small tunnels were made through the front house. This Hellgrüner Gang was almost impossible to find. But I'm glad we did because it opened a small world hidden from the streets.
Backyard house clusters: Lübeck's small houses behind the front townhomes are quaint and well maintained.
Buddenbrook Haus
Lachsbrötchen: a delicious lunch on the waterfront.
Thursday, March 5, 2009
Where I work
On a side note, the Deutsche Bank building on Unter den Linden is likely the most intriguing building I have ever worked at. It is an elegant combination between a modern art exhibit (the walls are decorated with a rotating exhibit consisting of unconventional photography), high tech (with sophisticated security intallations and indirect, full spectrum lighting), and palace (with a generous atrium, spacious covered courtyard, and a marvelous staircase with differnt marble types on the walls). As a connoisseur of interior design, it is a real joy every day to be in this building. Because of my obvious enthusiam of my workplace, I felt the need to share this with you.
Some information about the artworks hanging just outside my office. I literally walk past these artworks every day. Really cool!: http://www.db.com/csr/en/content/6889.htm
View from across Unter den Linden: I like it. The office building consists of two formerly seperate buildings "connected". Inside, you have to use a small set of stairs on the same floor to get from one side to the other. On-the-job exercise is always good.
The courtyard: A good source of light for the offices facing inside. By the way, there is German / European law that dictates that employees must sit near a window. Wished we had that in the States. For my friends in Washington D.C., this courtyard reminds me alot of the courtyard at the National Portrait Gallery at Gallery Place.
The Deutsche Guggenheim: Yes, there is actually a museum inside the building! How great is that?
The Deutsche Guggenheim: http://www.deutsche-guggenheim.de/
Deutsche Bank: On the corner of Unter Den Linden and Charlottenstrasse.
Some information about the artworks hanging just outside my office. I literally walk past these artworks every day. Really cool!: http://www.db.com/csr/en/content/6889.htm
View from across Unter den Linden: I like it. The office building consists of two formerly seperate buildings "connected". Inside, you have to use a small set of stairs on the same floor to get from one side to the other. On-the-job exercise is always good.
The courtyard: A good source of light for the offices facing inside. By the way, there is German / European law that dictates that employees must sit near a window. Wished we had that in the States. For my friends in Washington D.C., this courtyard reminds me alot of the courtyard at the National Portrait Gallery at Gallery Place.
The Deutsche Guggenheim: Yes, there is actually a museum inside the building! How great is that?
The Deutsche Guggenheim: http://www.deutsche-guggenheim.de/
Deutsche Bank: On the corner of Unter Den Linden and Charlottenstrasse.
Sunday, February 8, 2009
Day 4: Voting in Hessen, exploring Wiesbaden, Kloster Eberbach
On January 14 we left the state of Nordrhein-Westfalen and drove southeast from Köln to Wiesbaden, the capital of the state of Hessen. In Wiesbaden we learned about the upcoming state elections by hearing first-hand from a television reporter and then from the top election official in Hessen. After exploring Wiesbaden on our own, we spent the evening at a nearby monastery.
"The Hessian Situation - Insight into State Politics"
Upon arrival at our hotel (located above the capital city on the hillside), we assembled in a conference room and the head of the Hessen office of the German television station ZDF explained the upcoming state elections in Hessen. This election in Hessen, to be held that Sunday on January 18, was necessary to form the state government because the two main parties, the Social Democrats (SPD) and the Christian Democrats (CDU), were unable to form a coalition government comprising of CDU/Liberals or SPD/Greens since the 2008 elections.
I can describe the situation in Hessian state politics as a muddle. The SPD party was disadvantaged, in part, because its leader up to now, Andrea Ypsilanti, made a last minute decision to form a coalition with the Left party in a clear contradiction to the previous campaign promise to ally with the Greens. This blunder made her very unpopular with both her party and the voters and led to her retreat from politics. Although the SPD installed Thorsten Schäfer-Gümbel, the party was doomed by Ypsilanti.
A unique attribute of politics in Hessen is that the parties are unusually polarized - the CDU is considered faaar right while the SPD is considered faaar left. This, combined with the highly-personified politics with vicious personal attacks makes Hessen politics unique for Germany.
Results from the January 18 election (in % votes):
CDU: 37.2
SPD: 23.7
FDP: 16.2
Greens: 13.7
Left: 5.4
The ruling coalition in Hessen is now CDU and the Liberal FDP.
"The Hessen Election: A Perspective from the State Election Officials"
The next stop within Wiesbaden was the Interior Ministry of Hessen, which contained the election office. Entering this modern building from the biting January cold was a relief and we were ushered to a sleek conference room. Mr. Hannappel, the chief state election official who oversees all voting and counting, welcomed us and presented us with the nuts and bolts of democracy in Hessen. His presentation explained the voting system in Hessen, how a ballot works, his job as top official, the 55 election districts, election structure, preparations for the election by districts, absentee ballots, reporting and communication channels of results, calculation of state seats, and quality assurance.
Entering the Ministry: the presentation was held in the Ministry of Interior and Sport in Wiesbaden, Hessen's capital.
Fine infrastructure: the conference room where the presentation was held.
"Wiesbaden on foot"
Afterwards we had a few hours on our own before our next date. I spent this time walking around the city of Wiesbaden with some fellow Fellows. Wiesbaden became popular as one of Europe's oldest spa towns, boasting 27 hot springs at one point in history (sadly our schedule did not allow a visit to the baths). It is located at the border between Hessen and its neighboring state of Rheinland Pfalz and is 23 miles west of Frankfurt. In 1900, there were more millionaires living in Wiesbaden than anywhere else in Germany. This was made clear to me by the posh villa neighborhoods in the surrounding hills (spared by WWII bombing). We strolled the city's center and visited the St. Bonifatius church, some stores, and finally stopped at a small Bavarian-themed restaurant for some warm drinks and Kaiserschmarrn.
Wiesbaden cityscape in January: A view towards the sky from the city plaza. From left to right: Hessian Parliament building, the neogothic Marktkirche, and a city building.
"More than 100 Years of Tradition - the Kloster Eberbach (Eberbach Monastery)"
As evening approached, we set forth to the Kloster Eberbach. Mr. Blach, a friend of one of the Bosch Fellows and the Executive Director of the foundation that maintains and manages the monastery, generously offered to give us a private tour with wine tasting and a dinner this evening. We walked through the snowy grounds of the 12th century Cistercian abbey towards the wine cellars while learning about the place's long history. The founding Cistercian monks, part of the reform movement, chose to live with no comforts, sleeping on hard stone floors, waking up a few times at night to pray, and walking around barefoot year-round. These monks made a fortune, however, in wine production and export because the surrounding hills were optimal for grapes and their affiliation with the church made them exempt from tariffs and taxes on their export wine. We tasted several varieties of this wine and it was delicious. Chamber after chamber of wine barrels, wine presses, and storage rooms! The magnitude of the wine operations back then was astounding. Then we had a fantastic dinner at the monastery's restaurant. Superb!
The compound: the Kloster Eberbach is a sprawling campus.
The Name of the Rose: parts of the 1986 film based on Umberto Eco's 1980 novel were filmed at the Kloster Eberbach. Here we look at a room that was used for scenes in the movie.
Wine tasting: here the guide explains the fine wine we are about to enjoy. Notice we are all wearing hats, coats, and gloves. This is because it was freezing! Thankfully, the candles on top of the barrels warmed the atmosphere.
Ancient wine casks
One of the many rooms with wine casks.
A feast worthy for monks: I doubt the Cistercian monks would eat such a fine meal :)
"The Hessian Situation - Insight into State Politics"
Upon arrival at our hotel (located above the capital city on the hillside), we assembled in a conference room and the head of the Hessen office of the German television station ZDF explained the upcoming state elections in Hessen. This election in Hessen, to be held that Sunday on January 18, was necessary to form the state government because the two main parties, the Social Democrats (SPD) and the Christian Democrats (CDU), were unable to form a coalition government comprising of CDU/Liberals or SPD/Greens since the 2008 elections.
I can describe the situation in Hessian state politics as a muddle. The SPD party was disadvantaged, in part, because its leader up to now, Andrea Ypsilanti, made a last minute decision to form a coalition with the Left party in a clear contradiction to the previous campaign promise to ally with the Greens. This blunder made her very unpopular with both her party and the voters and led to her retreat from politics. Although the SPD installed Thorsten Schäfer-Gümbel, the party was doomed by Ypsilanti.
A unique attribute of politics in Hessen is that the parties are unusually polarized - the CDU is considered faaar right while the SPD is considered faaar left. This, combined with the highly-personified politics with vicious personal attacks makes Hessen politics unique for Germany.
Results from the January 18 election (in % votes):
CDU: 37.2
SPD: 23.7
FDP: 16.2
Greens: 13.7
Left: 5.4
The ruling coalition in Hessen is now CDU and the Liberal FDP.
"The Hessen Election: A Perspective from the State Election Officials"
The next stop within Wiesbaden was the Interior Ministry of Hessen, which contained the election office. Entering this modern building from the biting January cold was a relief and we were ushered to a sleek conference room. Mr. Hannappel, the chief state election official who oversees all voting and counting, welcomed us and presented us with the nuts and bolts of democracy in Hessen. His presentation explained the voting system in Hessen, how a ballot works, his job as top official, the 55 election districts, election structure, preparations for the election by districts, absentee ballots, reporting and communication channels of results, calculation of state seats, and quality assurance.
Entering the Ministry: the presentation was held in the Ministry of Interior and Sport in Wiesbaden, Hessen's capital.
Fine infrastructure: the conference room where the presentation was held.
"Wiesbaden on foot"
Afterwards we had a few hours on our own before our next date. I spent this time walking around the city of Wiesbaden with some fellow Fellows. Wiesbaden became popular as one of Europe's oldest spa towns, boasting 27 hot springs at one point in history (sadly our schedule did not allow a visit to the baths). It is located at the border between Hessen and its neighboring state of Rheinland Pfalz and is 23 miles west of Frankfurt. In 1900, there were more millionaires living in Wiesbaden than anywhere else in Germany. This was made clear to me by the posh villa neighborhoods in the surrounding hills (spared by WWII bombing). We strolled the city's center and visited the St. Bonifatius church, some stores, and finally stopped at a small Bavarian-themed restaurant for some warm drinks and Kaiserschmarrn.
Wiesbaden cityscape in January: A view towards the sky from the city plaza. From left to right: Hessian Parliament building, the neogothic Marktkirche, and a city building.
"More than 100 Years of Tradition - the Kloster Eberbach (Eberbach Monastery)"
As evening approached, we set forth to the Kloster Eberbach. Mr. Blach, a friend of one of the Bosch Fellows and the Executive Director of the foundation that maintains and manages the monastery, generously offered to give us a private tour with wine tasting and a dinner this evening. We walked through the snowy grounds of the 12th century Cistercian abbey towards the wine cellars while learning about the place's long history. The founding Cistercian monks, part of the reform movement, chose to live with no comforts, sleeping on hard stone floors, waking up a few times at night to pray, and walking around barefoot year-round. These monks made a fortune, however, in wine production and export because the surrounding hills were optimal for grapes and their affiliation with the church made them exempt from tariffs and taxes on their export wine. We tasted several varieties of this wine and it was delicious. Chamber after chamber of wine barrels, wine presses, and storage rooms! The magnitude of the wine operations back then was astounding. Then we had a fantastic dinner at the monastery's restaurant. Superb!
The compound: the Kloster Eberbach is a sprawling campus.
The Name of the Rose: parts of the 1986 film based on Umberto Eco's 1980 novel were filmed at the Kloster Eberbach. Here we look at a room that was used for scenes in the movie.
Wine tasting: here the guide explains the fine wine we are about to enjoy. Notice we are all wearing hats, coats, and gloves. This is because it was freezing! Thankfully, the candles on top of the barrels warmed the atmosphere.
Ancient wine casks
One of the many rooms with wine casks.
A feast worthy for monks: I doubt the Cistercian monks would eat such a fine meal :)
Tuesday, January 13, 2009
Day 3: Duisburg and the Ruhr Region, The Duisburg-Marxloh Mosque
"Structural Change in the Ruhr Region"
After a swift breakfast at our Hotel Hopper in Köln, we boarded a chartered bus and drove an hour through the rainy and gray Ruhr region to Duisburg. Duisburg on the Rhine River, the largest inland harbor in Europe, looked to me alot like Newark or Port Elizabeth in New Jersey! Upon arrival, we were received by the head of the Strategic City Planning for Duisburg and entered the City Hall. Another Patre Nostre elevator! These unique elevators never fail to entertain! The presentation by the city planner focused on how the industrial city of Duisburg redefining itself by redoing its infrastructure and urban planning.
Why was all this necessary for Duisburg? Duisburg's city planning after WWII was fraught with bad decisions: clearing city areas to make space for wide roads (to accomodate the boom in auto ownership, reflecting the "freie Fahrt, freie Bürger" mentality), building a major road that cuts through the historic downtown, scaring off investors by backing out of a retail zone project at the last minute, spending lots of money building a U-Bahn that is not used, building pedestrian paths too wide, building too many surface parking lots, etc. These issues were to be dealt with by awarding the city planning contract, Innenhafen Rebuilding & Development, to Foster & Partner, a British firm.
The solution? A master plan from this world-renowned firm that would regain investor trust and give the project political support and momentum. The speaker gave us Foster's presentation which went into great detail and supported its ideas with interesting research and data. Some suggestions include rebuilding the pedestrian Innenstadt (core part of town), developing the waterfront property, diverting commuter traffic, promoting multifunctional services, attracting artists, and focusing recreation and resources to the waterfront.
Duisburg on the Rhein River
Patre Nostra: these elevators are constantly moving and you have to jump on and off them. Nothing like a little risk dimension to a workplace!
Getting seated: our group is getting assembled in the conference room where we will learn about the city planning project in Duisburg. Notice the large map on the back wall. Much of the area is covered with steel processing and other industrial business.
the Alte Rathaus: we toured this beautiful municipal building after the presentation.
Walking tour: on this tour we saw first hand how the city is in the process of getting a face lift. Here we are in the mall and noticing its unique construction.
The "core competency": the Duisburg waterfront was identified as the key unique selling point of the city and thus became the destination for investment.
Looks like New Jersey!: here cars are awaiting further transport to dealerships.
Realwirtschaft: here we see the "real economy" in action. This Ruhr region is home to steel manufacturers such as Thyssen-Krupp and many logistics firms. Mr Thyssen built his empire on grand visions of capitalist value-added and some of the world's largest smelters and steel ovens.
Forlorn: mothballed mansions of the industrial elite of the days gone by. The tour guide on the bus told us these homes are on sale for cheap. Anyone interested in industry-front property?
"Coexistence of faiths - the DiTiB Mosque and religious meeting place in Duisburg-Marxloh"
Spectacular: the interior artwork of the mosque dome.
Following the tour of the industry parks of Duisburg, we bussed to a quiet residential part of town where Germany's largest mosque was just completed on October 2008. On first impression, the mosque did not seem that large at all. Once inside, we discussed the role of a mosque in the Muslim faith and how this mosque was a model institution for religious tolerance. The mosque, in addition to being a traditional prayer house and meeting place, extended beyond its religion and embraced Jewish and Catholic citizens in dialogue. The scholar showing us around was very informative and even showed us where the prayers took place. Amazing!
The mosque sign.
The mosque exterior.
Sitting in the prayer room: here we sat and learned about the religion and how its members integrate into the Western-European societies. The highlight was when he sang us a prayer and it revereberated beautifully in the dome.
After a swift breakfast at our Hotel Hopper in Köln, we boarded a chartered bus and drove an hour through the rainy and gray Ruhr region to Duisburg. Duisburg on the Rhine River, the largest inland harbor in Europe, looked to me alot like Newark or Port Elizabeth in New Jersey! Upon arrival, we were received by the head of the Strategic City Planning for Duisburg and entered the City Hall. Another Patre Nostre elevator! These unique elevators never fail to entertain! The presentation by the city planner focused on how the industrial city of Duisburg redefining itself by redoing its infrastructure and urban planning.
Why was all this necessary for Duisburg? Duisburg's city planning after WWII was fraught with bad decisions: clearing city areas to make space for wide roads (to accomodate the boom in auto ownership, reflecting the "freie Fahrt, freie Bürger" mentality), building a major road that cuts through the historic downtown, scaring off investors by backing out of a retail zone project at the last minute, spending lots of money building a U-Bahn that is not used, building pedestrian paths too wide, building too many surface parking lots, etc. These issues were to be dealt with by awarding the city planning contract, Innenhafen Rebuilding & Development, to Foster & Partner, a British firm.
The solution? A master plan from this world-renowned firm that would regain investor trust and give the project political support and momentum. The speaker gave us Foster's presentation which went into great detail and supported its ideas with interesting research and data. Some suggestions include rebuilding the pedestrian Innenstadt (core part of town), developing the waterfront property, diverting commuter traffic, promoting multifunctional services, attracting artists, and focusing recreation and resources to the waterfront.
Duisburg on the Rhein River
Patre Nostra: these elevators are constantly moving and you have to jump on and off them. Nothing like a little risk dimension to a workplace!
Getting seated: our group is getting assembled in the conference room where we will learn about the city planning project in Duisburg. Notice the large map on the back wall. Much of the area is covered with steel processing and other industrial business.
the Alte Rathaus: we toured this beautiful municipal building after the presentation.
Walking tour: on this tour we saw first hand how the city is in the process of getting a face lift. Here we are in the mall and noticing its unique construction.
The "core competency": the Duisburg waterfront was identified as the key unique selling point of the city and thus became the destination for investment.
Looks like New Jersey!: here cars are awaiting further transport to dealerships.
Realwirtschaft: here we see the "real economy" in action. This Ruhr region is home to steel manufacturers such as Thyssen-Krupp and many logistics firms. Mr Thyssen built his empire on grand visions of capitalist value-added and some of the world's largest smelters and steel ovens.
Forlorn: mothballed mansions of the industrial elite of the days gone by. The tour guide on the bus told us these homes are on sale for cheap. Anyone interested in industry-front property?
"Coexistence of faiths - the DiTiB Mosque and religious meeting place in Duisburg-Marxloh"
Spectacular: the interior artwork of the mosque dome.
Following the tour of the industry parks of Duisburg, we bussed to a quiet residential part of town where Germany's largest mosque was just completed on October 2008. On first impression, the mosque did not seem that large at all. Once inside, we discussed the role of a mosque in the Muslim faith and how this mosque was a model institution for religious tolerance. The mosque, in addition to being a traditional prayer house and meeting place, extended beyond its religion and embraced Jewish and Catholic citizens in dialogue. The scholar showing us around was very informative and even showed us where the prayers took place. Amazing!
The mosque sign.
The mosque exterior.
Sitting in the prayer room: here we sat and learned about the religion and how its members integrate into the Western-European societies. The highlight was when he sang us a prayer and it revereberated beautifully in the dome.
Monday, January 12, 2009
Day 2: Köln as media location and RTL Studios
"Köln - Der Medienstandort in Profil"
Köln (Cologne) can be considered the most important media cluster in Germany. Interconnections between IT software and services, telecommunications, and media are built on the foundation of qualified labor, presence of leading companies, and a favorable growth climate in this region of Nordrhein-Westfalen.
Fueled by increasing demand and financed by mandatory fees from German television viewers (as well as advertising revenues), the German public television system began to emerge after WWII. In 1954, regional stations came together to form ARD, a supra-regional cooperation where programming could be shared and coordinated. Nine years later, after criticism that ARD was too fragmented and not all that government-friendly to the policies coming from Bonn, ZDF ("Zweites Deutsches Fernsehen") was broadcast to provide a conservative counterpart to the liberal ARD. Private television station like RTL and SAT-1 emerged in the 1980's. Along with the rapid increase in TV stations came debate and legislation about how much advertising is allowed per hour, mandatory TV fees, and private vs. public television. Needless to say, the combination of public (well-financed with fees) TV and private (advertising revenue-based) TV in Germany is not without its issues.
At the city hall in Köln, we discussed this and other topics that the city and region was facing. Köln's strategy for the future of its media-dominance is based on retaining quality talent from its University and other places of higher learning, tap into the potentials arising from its diverse population (up to 30% of people living in Köln are foreign), provide fast-track communication with current and potential investors, and continue creating a favorable regulatory and infrastructure climte for businesses.
The crest of Köln: this emblem of the city hangs in the city hall building. If you look closely, you'll see three crowns over 11 tear drops. The three crowns represent the 3 Magi (Three Kings) whose remains are resting in the Cathedral. "The eleven tears are a reminder of Cologne's patron, Saint Ursula, a Britannic princess, and her legendary 11,000 virgin companions who were supposedly martyred by Attila the Hun at Cologne for their Christian faith in 383. The entourage of Ursula and the number of victims was significantly smaller; according to one source, the original legend referred to only eleven companions and the number was later inflated by relic traders"(Wikipedia).
Surveying a model of Köln: here city officials showed us of new and upcoming development projects for the city.
Arrival at RTL Television GmbH, located a bit away from the city center at Aachenerstrasse.
Approaching the RTL compound: here we entered the RTL building and were ushered to a room where we spent an hour speaking with Peter Kloeppel, one of Germany's most famous journalists and chief editor of RTL Television. 2009 is RTL's 25th anniversary year and he gave a fantastic presentation about his station's market share dominance, genre and content management, production cycle of shows, RTL's multimedia platforms, and quality of news. RTL has a 32.9% market share and caters to a considerably younger audience than the public stations.
Scott and I in the studio: following the presentation, we took a walking tour of the studios. Here we are sitting at a studio desk in front of a green screen. Cool!
Learning the ins and outs of the studio: here a broadcast worker is showing us how a studio works. The desk seemed a little shabby and cluttered to me. Apparently, as we were told, with the emergence of High Definition TV, studios need to be updated and cleaned up because all little imperfections will be visible to viewers!
Funny guy: the studio worker showing us around was mixing in english to his tour and making us laugh. He is holding a green-colored tie to show us what would happen if a reporter wears green: the green would show the background and it would appear that the reporter has a hole in him/her!
A real teleprompter: the speed at which the text flows can be adjusted by the reader with a foot pedal hidden under the desk.
Köln (Cologne) can be considered the most important media cluster in Germany. Interconnections between IT software and services, telecommunications, and media are built on the foundation of qualified labor, presence of leading companies, and a favorable growth climate in this region of Nordrhein-Westfalen.
Fueled by increasing demand and financed by mandatory fees from German television viewers (as well as advertising revenues), the German public television system began to emerge after WWII. In 1954, regional stations came together to form ARD, a supra-regional cooperation where programming could be shared and coordinated. Nine years later, after criticism that ARD was too fragmented and not all that government-friendly to the policies coming from Bonn, ZDF ("Zweites Deutsches Fernsehen") was broadcast to provide a conservative counterpart to the liberal ARD. Private television station like RTL and SAT-1 emerged in the 1980's. Along with the rapid increase in TV stations came debate and legislation about how much advertising is allowed per hour, mandatory TV fees, and private vs. public television. Needless to say, the combination of public (well-financed with fees) TV and private (advertising revenue-based) TV in Germany is not without its issues.
At the city hall in Köln, we discussed this and other topics that the city and region was facing. Köln's strategy for the future of its media-dominance is based on retaining quality talent from its University and other places of higher learning, tap into the potentials arising from its diverse population (up to 30% of people living in Köln are foreign), provide fast-track communication with current and potential investors, and continue creating a favorable regulatory and infrastructure climte for businesses.
The crest of Köln: this emblem of the city hangs in the city hall building. If you look closely, you'll see three crowns over 11 tear drops. The three crowns represent the 3 Magi (Three Kings) whose remains are resting in the Cathedral. "The eleven tears are a reminder of Cologne's patron, Saint Ursula, a Britannic princess, and her legendary 11,000 virgin companions who were supposedly martyred by Attila the Hun at Cologne for their Christian faith in 383. The entourage of Ursula and the number of victims was significantly smaller; according to one source, the original legend referred to only eleven companions and the number was later inflated by relic traders"(Wikipedia).
Surveying a model of Köln: here city officials showed us of new and upcoming development projects for the city.
Arrival at RTL Television GmbH, located a bit away from the city center at Aachenerstrasse.
Approaching the RTL compound: here we entered the RTL building and were ushered to a room where we spent an hour speaking with Peter Kloeppel, one of Germany's most famous journalists and chief editor of RTL Television. 2009 is RTL's 25th anniversary year and he gave a fantastic presentation about his station's market share dominance, genre and content management, production cycle of shows, RTL's multimedia platforms, and quality of news. RTL has a 32.9% market share and caters to a considerably younger audience than the public stations.
Scott and I in the studio: following the presentation, we took a walking tour of the studios. Here we are sitting at a studio desk in front of a green screen. Cool!
Learning the ins and outs of the studio: here a broadcast worker is showing us how a studio works. The desk seemed a little shabby and cluttered to me. Apparently, as we were told, with the emergence of High Definition TV, studios need to be updated and cleaned up because all little imperfections will be visible to viewers!
Funny guy: the studio worker showing us around was mixing in english to his tour and making us laugh. He is holding a green-colored tie to show us what would happen if a reporter wears green: the green would show the background and it would appear that the reporter has a hole in him/her!
A real teleprompter: the speed at which the text flows can be adjusted by the reader with a foot pedal hidden under the desk.
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