eclaire, december 2010
DESCRIPTION
The EFR-Eclaire Christmas Edition of 2011TRANSCRIPT
FOOTBALL TRANSFERS
BLOWING BILLIONS TO-BITS
HOLIDAY TRADITIONS
BLACK FRIDAY
INTERNATIONAL EXCHANGE
REPORTS
JAARGANG 31 > DECEMBER 2010 > NUMMER 2
MORE INFO INSIDE ÑÑ
WIN ACAMERA!
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Fax. 010 408 9021
E-mail: [email protected]
Editor in Chief:Kim van Adrichem
Writers:Timothy Langstraat
Youvale van Dijk
Madina Ismailova
Katharina Dees
Nadia Zafirah
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Copyright ©2010, EFR
SCHIPHOL GROUP >25
CHRISTMAS TREE, OH CHRISTMAS TREE >36
10 WAYS TO… >38
DUISENBERG SCHOOL OF FINANCE >24
TRANSFERS IN FOOTBALL >34
A COCA COLA CHRISTMAS >21
BUSINESS WEEK REPORT >18
ERD >33
INTERNATIONAL EXCHANGE >16
EFR PICTURE PAGE >31
BLOWING BILLIONS TO BITS >14
THE CRISIS TODAY! >26
Colofon Index
C O L O F O N & I N D E X
EDITOR IN CHIEF LETTER >04
PRESIDENTIAL >05
BLACK FRIDAY >06
ADS: EVIL TOOL OF MARKETING >13
NIGHT OF THE NEW YEAR >10
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Kim
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I N T R O D U C T I O N
What have I gotten myself into? That is one of the questions
many of us seem to have on repeat then we enter the holiday
season. There is a range of end of the year activities set up
especially for you; from the family dinners to the Christmas
social drinks and white elephant parties. The stress of the
holidays accumulates with the need to buy the best gifts in
town for all your family and friends along with the desire
to look fabulous for all the social events. And on top of that
there are the exams. Just a little distraction from all the
holiday madness. Sometimes it can seem seriously difficult
to manage all the priorities you have, but fear not: in this
letter I shall give some quick pointers on how to de-stress
yourself! No, I will not advise you to watch one of those po-
wer nap videos on YouTube. Instead, I’ll be the person to tell
you that sometimes, it’s good to go with the flow.
Organize yourself: remove clutter from your immediate
living space and force yourself to focus on things that are
important. Exams come first, family second, and drinks are
optional. Once you are done with exams, you can go all out
during the two weeks of vacation and do all those things you
have been yearning to do during the last two blocks.
Dare to say ‘no’: your priorities are obvious and sometimes
having too much on your plate can be just plain disorienting.
Plan one night a week just for you-time so that you can get
important things done and have a break afterwards in which
you take the time to really enjoy (tip: this in combination with
chocolate usually works well).
Stay positive: the weather is too cold, the printer doesn’t
work, and assignments are stacking up while there are still
so many things that have to be done. Sure, there are some
negatives. But how many positives outnumber the negatives?
There are VIBES parties, Vie parties, social drinks aplenty.
And sometimes you just need some time with close friends
to relax and remember all the amazing/crazy things that are
going on in your busy student lifestyle. After all student life is
not just studying, there are loads of other things going on that
allow you to take your mind off of stressful events.
Now I would like to share one of my favorite quotes from the
TV show “Big Bang Theory” for some comic relief before you
continue reading this Eclaire:
“Penny: Sheldon, what about you, did you have a Christmas tree?
Sheldon: Oh yes. We had a tree, we had a manger, we had an
inflatable Santa Claus with plastic reindeer on the front lawn.
And to make things even jollier, there were so many blinking
lights on the house they induced neighborhood wide seizures.
Penny: So I take it you don't wanna help us trim the tree?
Sheldon: I do not, but if you insist on decorating a spider infe-
sted fire-hazard in my home go ahead.”
Happy holidays and enjoy your much deserved vacation,
Kim van Adrichem
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Editor-in-Chief
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Have you ever felt a little bit of jealousy when one of your
friends had just bought the latest iPhone or laptop? Or when
one of them came to class with a totally new outfit? It can
give you the feeling that you need a new phone or outfit too,
in spite of the fact that it might not be necessary. You ex-
perience the desire to purchase goods or services in ever
greater amounts: consumerism. This experience gives you
the idea that personal happiness can be obtained through
consumption. The movement of consumerism is typical for
the western, capitalized world that most of us are used to.
However, this movement is spreading further around the
globe. In upcoming economies such as China, India and Bra-
zil a whole new middle class of consumers is on the rise.
McDonalds and skyscrapers are filling up the cities and
more and more people are buying their own car(s).
This movement of consumerism can be pretty dangerous. We
are already using too much of the world’s resources and with
the population growth and increased consumerism this will
only worsen. And there’s one thing we can agree on: earth
provides enough to satisfy every man’s need, but not every
man’s greed. So before we start continuing this trend of ‘you-
can-never-get-enough-of-what-you-don’t-need-to-make-
yourself-happy’, we have to start asking ourselves: does it re-
ally make us happy? It may seem like a suggestive question,
because most of you would immediately say ‘no’. We’ve all
learned in our early childhood that money doesn’t make you
happy. You have succeeded in life when all you really want is
only what you really need. But then we keep going back to the
same problem: why do we keep buying so much?
I think one of the hardest things in life is to take less when
you can get more. The gap in our economy is between what
we have and what we think we ought to have – and that’s a
moral problem, not an economic one. In order to prevent the
world’s resources from running out on a short term, we have
to change our mindset.
So before you run to the store to get the same iPhone or outfit
as your friend, there’s only one advice we can give: think of
what really makes you happy.
Myrthe van Dieijen
President of the 47th EFR-Board
5
Presidential
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Friday, Black Friday:. Valuing.
Discounts.
and.
Discounting.
Values.
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By: Timothy Langstraat
THE UNITED STATES HAS NEVER BEEN KNOWN FOR ITS RELUCTANCE TO INDULGE IN CONSUMERISM. WHETHER IT IS THE OPULENCE OF CHRISTMAS, OR EVEN SIMPLER HOLIDAYS,
SUCH AS FATHER’S DAY, AMERICAN SOCIETY NEVER LEAVES A CHANCE UNUSED TO SPEND MONEY, AND GO TO EXTREMES TO DO SO. BUT THERE IS NO DAY WHERE THIS IS CLEARER THAN BLACK FRIDAY, THE DAY AFTER THANKSGIVING.
The Birth of a TraditionBlack Friday is the endearing term gi-
ven to the first Friday after Thanksgiving,
which, since the 1920’s, has heralded in
the start of the unofficial holiday season
in the United States. Ever since then, the
Macy’s Thanksgiving Day Parade has gone
through the streets of New York year after
year, entertaining children and adults alike
with their elaborate floats and performan-
ces. However, the massive crowds here
were not the origin of the name ‘Black Fri-
day’. This name only came about 40 years
later, in the city of Philadelphia.
While the name might’ve only come about
in the sixties, the shopping associated with
Thanksgiving Day had taken the country by
storm from day one. By the time the sixties
began, and the US truly began its rise to
the top of the economic food chain, it had
grown from a few secluded Thanksgiving
Day Parades to a nationwide phenomenon,
with starting to line up for the various shops
from the early hours of the day onwards.
And in 1966, 42 years after the first parade
by Macy’s, the crowds had reached such
a massive size that in Philadelphia, the
streets were swarmed with people, traffic
slowed to a crawl and stores were packed
with people, and the local policemen had
given the day the ominous name ‘Black
Friday’.
But that isn’t the end of the line for this
name. While it first reared its head in 1966,
it took another 9 years before the name
caught on in the major media, showing up
for the first time in national newspapers in
1975. Before long, the entire nation knew of
the term Black Friday, and of the madness
associated with it. But, as expected, the
retailers were not happy with this turn of
events. And so, to divert the attention from
the bad connotations of the first meaning,
another explanation was brought into the
world: Black Friday was the day that stores
made a profit for the first time, operating
on a loss from January to November. The
meaning stuck and, with that, a modern-
day holiday was born.
War of the Wal-MartsBut why are people willing to stand in line
for hours on end, just to get that one bar-
gain that they had waited for? What drives
people to storm stores and mob malls just
for the sake of Christmas shopping? The
answer to that question lies in the question
itself. Ever since the first Macy’s Thanksgi-
ving Day Parade, people have been coming
out on to the streets to witness the parade,
and also to do the first bit of Christmas
shopping. As people were drawn more and
more to the parade, stores tried to make
the most of the customers that came into
their stores; they started offering lower
and lower discounts, to attract more cus-
tomers. Later, this escalated into earlier
opening times as well, in response to peo-
ple forming queues to get into the store.
But, in a bid to be the first into the store,
again people started waiting in line earlier
to get into the store. The need for sales and
the need for bargains created a veritable
shopping arms race.
Unfortunately, this lust to buy can also
turn to madness. To draw in the custo-
mers, shops turned to lower prices and
earlier opening times. But while this would
be fine if it remained like that, the situation
turned to disaster when discounts became
only valid on Black Friday itself, and was
only valid for very limited stocks. As crowds
get drawn towards the stores, and people
start queuing up in the early hours of the
day, slowly a recipe for disaster forms.
“Clean up on Aisle 1”As the ingredients in this recipe come to
a boil, so do the moods in stores around
the country. The stampedes that happen
every year when people storm the stores
in the best case only cause a few injuries,
but in the worst, they kill. In 2008, a young
man from Long Island was trampled in the
Wal-Mart he worked at, when a group of
people broke through the door he was vali-
antly guarding, and without any regard for
human life, ran into the store, trying to get
the best deal and the highest discount. As
emergency workers tried to revive the man,
who had suffered a heart attack under the
stress of so many people walking all over
him, even they were trampled still by the
massive amounts of people that were trying
to get into the store.
But while this is a severe case, violence is not
uncommon. Every year, there are countless
people getting injured, trampled underfoot,
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shoved aside or even shot
at. As the injuries began
getting more frequent,
and more severe, stores
decided they could no
longer sit by. Measures
had to be taken, and af-
ter the deadly incident in
2008, stores slowly began
to instate security mea-
sures. Instead of the un-
bridled shopping stam-
pedes that were common
before, in 2009 queues
were instated in stores all
around the country, and
stubs were handed out
to those in line, ensuring
that only the true first
100 got certain especially
wanted gifts.
A New HopeBut for some, that was-
n’t enough. Counter-
movements, such as the
‘Buy Nothing Day’ and
‘Buy More Stuff’, started
popping up around the
country. But while ‘Buy
Nothing Day’ flat-out
preaches that the behaviour of senseless buying is bad, ‘Buy
More Stuff’ is more creative. Their only message is to buy
more stuff. As their website puts it: “We're here to encourage
people to buy more stuff. If you don't hurry, they'll run out
of stuff or you'll run out
of time.” They attempt to
put a mirror to society,
and show it exactly what
they are doing: rampant
consumerism. And so
far, they’re successful.
What started as an art
project by Michael Hol-
den, has quickly grown
to be a movement that’s
now spreading across the
globe.
In the last few years,
Black Friday, and holiday
spending in general, has
spiraled out of control.
Even in times of economic
downturn, a time when
traditionally people go
back to basics, spending
keeps increasing. But the
question is whether this
will continue. Already,
countermovements have
taken to the streets to
protest the twist big cor-
porations have given the
holiday season. Others
are trying to mold the
days of Christmas into a controlled form. The only question
now is whether the people will truly listen, or if consumerism
will eventually devour the United States.
The meaning
stuck and,
with that, a
modern-day
holiday was
born.
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Nightof the New Year
By Madina Ismailova
THE NEW YEAR IS A MAGICAL TIME. ONE YEAR FOLLOWS THE OTHER. IT FEELS LIKE THERE WILL BE A CHANGE. NO ONE KNOWS WHAT KIND OF CHANGE, BUT EVERYBODY IS ANXIOUS IN ANTICIPATION.
IT IS OFTEN SAID THAT IT DEPENDS SOLELY ON THE PERSON HOW HIS NEXT YEAR WILL BE. IT ALL DEPENDS ON HOW ONE SPENDS THE NIGHT OF DECEMBER THE 31ST. MANY PEOPLE HAVE A GATHERING WITH FAMILY OR FRIENDS, WHILE SOME CHOOSE TO SPEND IT ALONE. THERE ARE THOSE WHO DON’T EVEN CARE ABOUT THIS SPECIAL TIME OF THE YEAR AND JUST CHANGE A CALENDAR ON THEIR WALL. MOST PEOPLE SPEND THIS HOLIDAY THE SAME WAY EACH YEAR, ACCORDING TO THE FAMILY OR CULTURE TRADITIONS. HOWEVER, IT ALL SOUNDS TOO BORING. HOW ABOUT TRYING SOMETHING NEW THIS YEAR? HAVE YOU EVER ASKED YOURSELF HOW OTHER PEOPLE SPEND THE NEW YEAR’S EVE?
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RussiaWell, first of all, the main motto is:
“How you spend the New Year’s night
will determine the next year for you”. It
means that the house has to be clean
and neat, a table set for celebration,
new clothes on you and people dear to
your heart around you. A festive menu
includes champagne, vodka, tangerines
and salad with herring. Celebrations
start with turning on a TV. Each chan-
nel during this season, and particular
this day, has a special show to enter-
tain you. But you don’t want to spend
your next year in front of the TV, right?
Since the programs are quite interes-
ting, you just turn it on with low sound
volume and keep the conversation
going. TV has another important role:
around ten minutes to midnight the
president will make a speech to tell his
citizens about the success of the pre-
vious year and expectations of the co-
ming one. Exactly at midnight you see
the Red Square and hear the chiming
clock declaring the beginning of the
New Year. Wishes made while the clock
is striking twelve will definitely come
true, or so people say. It is believed to
be a time full of magic, so some girls
practice New Years fortune telling.
Sometimes people continue their cele-
bration outdoor in Snow cities, where
they can observe elaborate, sparkling
and often dangerous fireworks. Snow
cities are attractions made entirely of
ice, filled with high beautiful slides for
both children and adults. The slides
are often in the shape of a castle and
surrounded by ice figures featuring
mystical Chinese dragons, cartoon
characters and animals representing
zodiac of the Chinese calendar.
ChinaThe times when Chinese celebrated
New Years only by lunar calendar are in
the past. Nowadays on the December
31 nuns ring bells in and streets are
filled with amazing creatures – huge
long dragons and lions, locals giving
New Year performances. You can ob-
serve tourists enjoying riding ships and
doors of all little tea restaurants are
open welcoming guests with the smell
of the freshly fried fish. That’s how tra-
vel agencies try to persuade people vi-
sit China for their New Year’s vacation.
However, it is still way more fun to visit
it during the Spring Festival, traditional
Chinese New Year, celebrated accor-
ding to the lunar calendar. That is the
time when children receive money in
red envelopes. Notice, that if you re-
ceive a present, it would be nice of you
to return a favor. During this time Chi-
nese people watch a special TV show
called “Spring Festival Gala Evening”,
which is an amazing show of singers,
dancers and performances with magic
tricks and comic dialogues. Usually this
entertainment show lasts five hours,
and while watching it you can enjoy a
special New Year’s menu consisting
of rice cakes, fish and rice wine. Even
though these meals are on the tables
throughout the year, during the Spring
Festival there is a special meaning to
it. For example, word “fish” has the
same pronunciation as Chinese “some-
thing left”. So eating fish for New Years
means you will have a lot to eat next
year. The celebration lasts ten days,
but, of course, the first days are the
most important ones. After the eighth
of the first month, according to the lu-
nar calendar, Chinese citizens usually
return to work. But there is still an en-
ding festival, called Lantern. People en-
joy the celebration with visual fireworks
and aural fireworks, called firecrackers
for all ten days. And even after the ce-
lebration is over, you can have fun put-
ting special Spring Festival Couplets on
your doors. There are two small ones,
traditionally put upside down and mean
“fortune” or “luck”, and two long ones.
People try to show their creativity crea-
ting those following the rule that words
should match in their meanings.
BrazilNew Year in Brazil is a summer holiday,
because it starts in the middle of sum-
mer, while it is winter in Europe. The
official name of the holiday is “Confra-
ternização”. It can be translated in En-
glish as translated as “fraternization”,
but its French name –Reveillon, is more
popular. It is a custom during this time
to be dressed in white clothes and give
small presents packed in pretty wrap-
ping paper with a ribbon. Still the main
presents are given on Christmas.
There is a tradition in Brazil to count
down the last seconds of the ending
year aloud, wish each other “Feliz Ano
Novo!” - “Happy New Year!” and drink
champagne during the festive fire-
works. New Year is especially beautiful
in Rio de Janeiro, where it is common to
throw white flowers in the ocean. Those
flowers often make the entire seashore
white. Imagine thousands of people,
dressed in white, watching grandiose
fireworks on the seashore. They wel-
come New Year as the sparkles of fire-
works melt away in the Atlantic Ocean.
They
welcome
New Year as
the sparkles
of fireworks
melt away in
the Atlantic
Ocean.
W.we k nbijm zars.
Mazars is ontstaan uit een fusie tussen Mazars en Paardekooper&Hoffman
Ga verder met Mazars.
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13By Katharina Dees
Chuck Blore, the founder of a famous radio advertising com-
pany in the US once said ”Advertising is the art of arresting
the human intelligence just long enough to get money from
it. “ Since Mr. Blore is an expert in the field of advertising he
must have had a point.
As a matter of fact, the world of today is full of advertising; we
are confronted with big billboards in modern cities, especially
in shopping malls and of course in the media, in particular
on the internet. All the ads no matter in which form they are
presented to us, follow only one aim; to persuade us to buy
the solicited product, service or... But if we look for instance
at the ad for the newest edition of a smartphone, it is questi-
onable if people do really need a new phone although they al-
ready have a pretty new one. The same applies to other kinds
of products. The question that always remains here is: did
people actually intended to purchase the product or was it
actually palmed on to them by the advertising campaign? Do
they actually make use of it or is it just another dust catcher
in the junk room?
It also happens that we watch a TV commercial in the after-
noon which is promoting, for example, food, making it more li-
kely that we purchase the desert or pasta, as food sells better
when the people who see the commercial are actually hungry.
Similar techniques are also being used in supermarkets.
The time period when the advertising campaigns addres-
sing the consumers turn aggressive is before Christmas. As
people are gift shopping, it offers an ideal possibility to lure
them to buy pointless gifts, which often times nobody wants
let alone needs. Most people have had similar experiences,
receiving presents to which the above applied.
If consumers were aware of the tricks of advertising com-
panies, they might be more inclined to think twice before
making an impulsive buy. Moreover, they should not give the
companies the power to lure them into unnecessary buying
decisions. In the end it is always still the customer’s own de-
cision to purchase something or not.
Advertising, the evil tool of Marketing
P S Y C H O L O G Y
”Advertising
is the art of
arresting the
human
intelligence
just long enough
to get money
from it."“
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By Youvale van Dijk
FIRECRACKERS, SKYROC-KETS, GROUND SPIN-NERS, SPARKLERS AND
HELICOPTERS. YOU ALL KNOW THEM FROM NEW YEAR’S EVE, OR ANY OTHER CELEBRATION THAT IS HELD IN YOUR COUN-TRY. IN THE NETHERLANDS AROUND 65 MILLION EUROS ARE SPENT ON FIREWORKS EACH YEAR, AT LEAST IN THE LEGAL MARKET. THE POLICE SEIZED 240,000 KG OF ILLE-GAL FIREWORKS LAST YEAR. ILLEGAL FIREWORKS ARE MORE ATTRACTIVE; THEY ARE OFTEN NOISIER, BRIGHTER AND SMOKIER. BUT THEY ARE ALSO RISKIER.
The Netherlands is ‘tough’ on people
trading illegal fireworks, probably due
to our recent past. The police forms
‘fireworks-teams’ in the months lea-
ding up to New Year’s Eve. Their task
is to check whether people possess
illegal fireworks and whether they are
using them. Getting caught using fire-
works before 10 am December 31st will
cost you 250 Euros. But there is also
good news for you all; you are allowed
to have not 10 kg, but 25 kg of fireworks
from next year on! And even “better”,
you can buy it at your local gas station!
Evil spiritsThe exact origin of fireworks is not
clear. Clear is though that two impor-
tant ingredients of fireworks, gunpow-
der and paper, are inventions from Chi-
na. The Chinese developed the popular
boomers with the intention to scare off
evil spirits. People started to use it for
all kinds of celebrations and it slowly
became a commercial good. A couple
of centuries later fireworks reached
Europe. Here it was mainly used as a
weapon of war.
Today China is still the main producer
and exporter of fireworks, as 90% of the
world’s fireworks come from China. Es-
pecially the city of Liuyang has a high
concentration of fireworks manufac-
turers (an industrial cluster). Chinese
firms probably benefit from an early-
mover advantage. As they were the
first to enter the commercial market of
fireworks, they have been able to gain
leadership and establish a name as re-
liable producers.
The good and the badThe Olympic Games of 2008 were a per-
fect opportunity for China to strengthen
their name as fireworks producers, and
they succeeded. All over the world peo-
ple were impressed by the enormous
fireworks show during the opening ce-
remony. Although it was later revealed
that some of it was digitally animated!
Still, it is a good example of the fun and
beautiful sides to fireworks.
However, there are not only good sides
to fireworks, as you all know. At the
last turn of the year around 770 peo-
ple were victim of incidents with fire-
works (in the Netherlands). Therefore,
commercials are broadcasted in the
month leading up to the New Year, to
warn people about the dangers of using
fireworks. In 2009 the government con-
tributed 225,000 Euros to such a cam-
paign. Body parts that suffer most from
fireworks are fingers, hands, eyes and
heads. Last year the amount of people
suffering (serious) ocular lesion incre-
ased by 10%.
However these commercials do not
warn against the risks of stocking
fireworks. For households this might
not be necessary, as households have
relatively low amounts of fireworks in
their possession. However, retailers
of fireworks are often handling large
amounts. The government has strict
rules as to how fireworks should be
stored, and which requirements ware-
houses need to meet. The last couple
of years the restrictions concerning
warehousing of fireworks have been
tightened in the Netherlands. This was
a consequence of a big tragedy.
On May 13th 2000 a warehouse of S.E.
Fireworks caught fire in Enschede.
This warehouse contained 900 kg of
fireworks. After some chain reactions
the fire reached the central bunkers,
containing 177 ton of fireworks, which
all exploded. A whole district vanished;
23 people lost their lives that day and
another 950 were injured. The damages
eventually surpassed 450 million Eu-
ros. The existence of some illegal con-
tainers on the premises intensified the
heated debate about illegal fireworks. It
was not much later that the regulations
were sharpened.
DebateWe are now a decade further and the
debate about fireworks is at a crossing.
On the one hand, the government is
loosening up regulations (liberalization
of the fireworks market). For example
households are allowed to buy more
fireworks, up to 25 kg from next year
on. And gas stations are going to be al-
lowed as a new distribution channel.
On the other hand, we have the ongoing
debate whether households should be
allowed to keep using fireworks or hire
professionals to give fireworks shows,
as many other countries already do.
Proponents of the latter emphasize
that it will be safer, and hence medical
costs will be lower, as will other costs.
Opponents emphasize tradition. Sur-
veys have revealed that only 10-15% of
Dutch citizens are proponents of a ban
on fireworks.
This year we can still buy fireworks.
Last year it was thought that the crisis
would have a big impact on the sales of
fireworks, as it is a luxury good. Howe-
ver the numbers show that people did
not spent less. They substituted expen-
sive fireworks for higher quantities of
cheaper kinds.
If you want to make some money out of
it, you should open a brick-store, which
specializes in fireworks, as numbers
show that just 5% of the people buy fire-
works on the Internet and 44% (most) of
fireworks is sold at stores, which speci-
alize in fireworks.
So this year there will again be victims
of fireworks, retailers who are stocking
illegal fireworks and people who are
going to buy illegal fireworks. Lets just
hope we are all really careful, enjoy the
tradition and blow some billions to bits!
“If you want to make money: open a brick-store.”
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U N I V E R S I T Y
Denise Embregts, Erasmus Universiteit Rotterdam, NetherlandsDeciding whether or not to go on exchange was an easy choice. Of course the idea of living in a foreign
(hopefully warmer!) country for a few months seemed appealing, but after having lived abroad for most
of my life already, I chose to stay at the EUR. While my grades would have allowed me to apply, I decided
that, while moving around is great, finishing three years in one place didn’t sound so bad either. Add to
that the fact that I was offered a job as a mentor and student assistant at the ESE, and my decision was
final. A very interesting minor and a great student life have been a wonderful start to my final bachelor
year, and I am already looking forward to the electives in the next block. Staying at the EUR is definitely
not an inferior option to the exchange: I still do not regret my choice.
Chiamaka Odikanwa, University of Western Ontario, CanadaWhen I made the decision to go on exchange, I really wanted to ‘go out, see more and know more’
about anything and everything. Coming to Canada and attending University of Western Ontario
has done just that for me. The exchange program, although centrally academic, has allowed me
to test my limits: what more can I do, where else can I go? I have had no drawbacks with this
experience, thus far. The city London is vibrant, teeming with students, and is two hours away
from Toronto. The city also has a close proximity to the United States. I can say without a doubt
that is a highly rewarding experience.
Phoebe Huurdeman, National Chengchi University, TaiwanIn the summer of 2009 I left Rotterdam to spent an exchange semester in Taipei. It was
an amazing experience; I learned how to pronounce the name of my school to cab drivers
(Cheng DA, CHENGda?, sjenda?), took all my pictures ‘Taiwanese style’, slept in a dorm
room with 5 other girls, overcame nasty encounters with cockroaches in the bathrooms,
traveled around Asia, partied every other night and ate local specialties like thousand year
old eggs and stinky tofu. I wouldn’t have missed these four months for the world and in the
end I can definitely say: wo juede Taiwan hen hao!
Exchange Report
Boris Konovalov, Moscow State University, RussiaExactly one year ago I was on a one semester exchange to the State University – Higher
School of Economics in Moscow, Russia. I am happy to tell you that this was an amazing
experience; probably one of the best times in my life. The metropolis is a young-spirited,
vibrant, and challenging place where one can enjoy nightlife, theatre, museums, and histo-
rical as well as modern sights to the fullest. At the University I attended classes in English
at the International College of Economics and Finance. At this faculty, which teaches a
double degree in cooperation with LSE, I met fellow students who know how to party but
are also some of the brightest minds around. Four of them are currently my classmates at
the London Business School and other people I met are now spread around the worlds’ top
graduate institutions. I can recommend an exchange to Moscow to anyone who is open-
minded, interested in Russian culture and language, loves big and crowded cities, has plenty
of energy, and prefers strong liquors and fancy clubbing. If you’re thinking about going there
feel free to contact me for some great tips and contacts.
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Bertram Flesch, Universidad Carlos III de Madrid, SpainAfter living in Northern Europe for about 22 years I thought that it was time
for something else, for a new experience, a different lifestyle. So I decided to
spend the first semester of my third year in Madrid, the vibrant capital of Spain.
What I found was a city tremendous in size and densely populated by an incre-
dibly diverse crowd. While almost deserted during siesta time the city virtually
explodes with life at night; especially during summer – which extends to the
middle of October here – when all the little Streets and Piazzas are filled with
Madrileños having a chat with their neighbors or going out to one of the many,
many clubs and bars with their friends. Most of them will not return before 6
o’clock in the morning. But of course there is more than just vibrant nightlife.
Every exchange semester offers different things to learn and provides new per-
spectives. What I really like about Spain, for instance, is their relaxed attitude.
Even if there is an endless cue behind you the people at the desk would take the
time to have a little chat with you and to joke around. They never get stressed
out. Of course it is not always very efficient. But I think it is one of the reasons
why their life expectancy ranks among the highest in Europe. Maybe this is the
most important thing I have learned here so far: Life is not all about efficiency.
In fact you can be perfectly fine without it from time to time.
U N I V E R S I T Y
If y
ou
wo
uld
lik
e t
o c
on
tact
an
y o
f th
ese
exc
ha
ng
e s
tud
en
ts f
or
mo
re i
nfo
rma
tio
n,
fee
l fr
ee
to
se
nd
a m
ail
to
: e
cla
ire
@e
fr.n
l.
Daniella Klauser, Universidade de Sao Paulo, BrazilBesides having the 5th largest population in the world, Brazil has one of the fas-
test growing economies in the world. On exchange in São Paulo, at the USP, I ex-
perienced the vibrant and manifold city of São Paulo. From the historic city centre
with its market hall and (black) market, to the beaches and famous night life
where you are introduced to sexy bikinis and tasty cocktails (caipirinhas are really
made with white sugar!!), there is so much to do! The university with all its faculty
buildings at one location is huge, comparable with a small city where buses take
you from one side to the other, and that is why it is even called 'cidade universi-
taria'; university city. The courses are easy to follow if you speak some Spanish or
Portuguese, otherwise you can also take Portuguese classes. On weekends and
holidays we had enough time to travel and got to know the country better. Public
transport is an easy way to travel, for sure!! As the national currency 'Real' got
stronger, many things are just as cheap/expensive as in Holland, although food is
certainly cheaper. In the coming years Brazil will host the FIFA World Cup in 2014
and the Olympic Games in Rio de Janeiro in 2016, and be assured, Brazilians
know how to party and celebrate! Don’t miss that experience!
Martin Sulistio, Keio University, JapanTaking the opportunity for an exchange program at Keio University, Japan, gave me a magni-
ficent experience, because for a few months I got to live in one of the most famous metropo-
lis’ in the world; Tokyo. Tokyo is an energetic and busy city and has a unique culture. Traveling
in Tokyo takes some time to get used to with the intricate metro and train lines and although
trains within Tokyo district come every two minutes during rush hour, the trains are always
packed. A culture shock will be inevitable for Non-Asians. Often times non-Asians will be sta-
red at in public. In Tokyo, Keio University is known as an elite school and its education system
is completely different than the Dutch variant. Although the workload is lower, we learn a lot
during the classes which are small and have more interaction.
Robin Vogelaar, Hong KongIn my preparation for exchange programs, I mostly aimed to have an enriching cultural ex-
perience. Hence, I decided that I wanted to go to Asia and more specifically to Hong Kong.
Until now, I have not regretted that decision! The educational experience provided is of very
high-level, the cultural experience taught me many useful intercultural skills, and the loca-
tion allowed me to get to know more about possible careers in Asia. In short, I would highly
recommend anyone to choose for Hong Kong. The location is exotic enough to have a very
interesting cultural experience, Western enough to be able to cope with daily life, and it will
definitely offer you a lasting experience!
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A R T I C L E
ON THE 15TH OF NOVEMBER, THE DEPUTY PRI-ME MINISTER OF THE UNITED KINGDOM, NICK CLEGG, VISITED THE EFR. THE MOST SURPRI-
SING PART OF HIS VISIT WAS THAT HE WISHED TO SPEAK IN DUTCH.
Clegg came to the EUR, to speak at the very first Pre-Event
of the EFR-Business. With a Dutch mother, a half-Russian
father and a Spanish wife, Nick Clegg is one of the most cos-
mopolitan politicians in the world. A part of his family still
lives in our country, and therefore this was a good moment
for Clegg to visit them as well.
Traditionally, the EFR-Business Week (which takes place
from March 30th to April 7th) consists of five components:
the Opening Day, Company Days, Conference Day, Busi-
ness Week on Location, and EFR-Business Week Party.
This year, the Pre-Event was a new addition to this list,
providing an opportunity to add an extra dimension to the
EFR-Business Week and to make a lasting impression on
the students and guests.
The day started off with a short opening speech from the De-
puty Prime Minister. His speech, in fluent Dutch, about trade
and economics was followed up by critical questions from
students and other guests. Amongst other things, questions
referred to the British education system, the Dutch political
climate and Geert Wilders. Frans Weisglas, former chairman
of the Dutch House of Representatives, was the host of the
day and lead the discussions.
After Clegg left the Erasmus University under police escort,
the day continued with a presentation by Wout Korving, direc-
tor and co-founder of the Rebel Group, about the applicable
economic instruments and calculations for the Dutch bid for
the Olympic Games of 2028. Beginning with a description of
historical Olympic Games, he ended with an interesting com-
parison about what made Olympic Games profitable in the
past – or not. Consider, for instance, the re-utilisation of buil-
dings, the development of underdeveloped urban neighbour-
hoods, and the increase in the flow of tourists.
This presentation was followed by a panel discussion
about the Dutch Olympic Bid, with Antoinette Laan (city
councillor of Sports and Recreation), Erik Braun (assistant
professor Urban Development at the Erasmus University)
and Coert Beerman (President of the Board of Rabobank
Rotterdam). Together with the students, they discussed
issues such as the development of infrastructure before
entering the bidding procedure in 2016, and whether long-
term investments in the Netherlands will increase due to
hosting the Olympic Games 2028.
In all, we are proud to say that the Pre-Event was a huge
success and we are looking forward to the EFR-Business
Week itself.
Is he Dutch!?
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Sometimes while I'm driving I struggle to keep my eyes on the
road because the clouds are playing with the mountains and
weaving in and out between them in a way that mesmerizes me.
When it rains I just want to stop everything and listen.
It is moments like these I want to take out my book, and read.
This, however is not interesting. We want to know where YOU
read the EFR-Eclaire!
We would like to receive photos of where you read the EFR-
Eclaire, may it be on holidays, at university, or in the train.
We would like to invite you to send your photos to eclaire@
efr.nl before January 25th, at which point we will be selecting
a winner.
Where do you read the
EFR-Eclaire?
Our winner will receive a Canon Ixus
105, as so to better participate with
our competitions in the future! Your
fotos will be judged on originality, so
shows us what you got!
E N T E R T A I N M E N T
By Hubert W. de Nie
WATCHING THE HUMMINGBIRDS AROUND A YELLOW FLOWERED BUSH THROUGH MY KITCHEN WINDOW WHILE I'M HAVING LUNCH... SAMPLING THE HOMEMADE FROSTING FROM THE BOWL AFTER ICING A CAKE... CIRCLING A FIRE PIT WITH FRIENDS AND WARMING MY HANDS... AHHH,
SWEET MOMENTS IN LIFE!
We bouwen bij de gemeente Rotterdam aan de
stad én aan de samenleving. We houden de regie
goed in handen, maar geven veel ruimte voor
initiatieven. Met 13.500 medewerkers zijn we een
grote werk gever in het Rijnmondgebied. En met
een paar duizend uiteen lopende functies ook een
veelzijdige. Samen werken wij voor bijna 600.000
Rotterdammers aan de stad.
“Na mijn studie wilde ik graag bij een grote gemeente
aan de slag, waar ik aan uitdagende, gedurfde projecten
kan werken. In Rotterdam zijn die er, hier worden ook
nieuwe creatieve oplossingen verwelkomt. Momenteel
werk ik als adviseur bij Gemeentewerken mee aan de
ontwikkeling van een kwaliteitsfi losofi e voor de dienst.
Ik organiseer themasessies waarbij ik procesbegeleider
ben. Uit deze sessies komt een discussienotitie voor
de directie voort. Daarnaast heb ik een dag per week
training met de andere trainees. Je krijgt dan
bijvoorbeeld een bedrijfsvoeringscasus met de vraag:
‘Hoe zou jij de gemeente inrichten?’ Dé kans om ‘out of
the box’ te denken en je eigen ideeën aan te dragen.
Of je bereidt tijdens een training adviesvaardigheden
met een acteur een lastige werksituatie voor en ontvangt
tools die je daarbij helpen. Erg waardevol!
Het traineeprogramma is superleuk. Ik heb hier de
mogelijkheid om mezelf te ontwikkelen, krijg heel veel
feedback. Het traineeship helpt me m’n plek te vinden
en te ontdekken waar mijn kracht zit. Zo kom je erachter
waar je in de organisatie het beste functioneert. Ik vind
dat ik in een bevoorrechte positie zit. Het programma
zorgt dat ik me bezig kan houden met dat waar ik in
geloof. Met een frisse blik, een dosis lef en idealen
werken aan onze samenleving. Ik kan het iedereen
aanraden!”
Wat bieden wij je? Een veelzijdig trainee programma
in een interessante stad die durft! Het traineeprogramma
start jaarlijks op 1 november en 1 mei met elke keer tien
trainees. In twee jaar tijd werk je aan vier projecten bij
vier verschillende diensten of deelgemeenten.
Afhankelijk van je leeftijd en opleiding ligt het aanvang-
salaris tussen 2.300,- en 3.000,- bruto per maand bij
een 36-urige werkweek.
Durf jij? Ben je geïnteresseerd en heb je een (bijna)
afgeronde universitaire of HBO-opleiding? Solliciteer
dan via de website www.rotterdam.nl/werkenbij.
Meer informatie over het traineeprogramma vind je op
www.rotterdam.nl/rotterdamse_traineeprogramma.
Rotterdam is in veel
opzichten een
voorloper, een stad die
durft. Zonder durf had
de modernste haven ter
wereld niet in
Rotterdam gelegen.
Zonder durf was
Rotterdam de wolken
minder dicht genaderd.
Zonder durf waren
veel debatten over
grootstedelijke
problemen niet in
Rotterdam gestart.
Rotterdam zoekt
medewerkers met
bezieling, die hun
verant woordelijkheid
nemen en ook de min-
der gebaande paden
durven te betreden.
rotterdam.nl/werkenbij
De stad die durft, geeft initiatief de ruimte.
Tanja Oosterveld, 28 jaar, trainee bij de
gemeente Rotterdam
“Het programma zorgt dat ik me bezig kan houden met dat waar ik in geloof.”
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E N T E R T A I N M E N T
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Merry Marketing: A Coca Cola Christmas
By Timothy Langstraat
THE COCA COLA COMPANY IS NOT MUCH OF A MYSTERY TO MOST PEOPLE. THEY KNOW
OF THE BRAND, HAVE SEEN THE ADS, AND THERE’S A DECENT CHANCE THAT YOU ACTUALLY HAVE ONE OF THEIR PRODUCTS IN YOUR HOME RIGHT NOW, OR EVEN RIGHT BESIDE YOU AS YOU READ THIS ARTICLE. MOST PEOPLE WOULD SAY THEY KNOW IT QUITE WELL; THEY KNOW THE BOTTLE, THE DRINKS, AND EVEN THE ADS. BUT WHERE DID THOSE ADS COME FROM? AND WHY IS IT THAT, EVERY YEAR, WE SEE ADS ON TV FOR COCA COLA, FEATURING SANTA CLAUS? TO KNOW THE ANSWER TO THAT QUESTION, I INVITE YOU TO READ ON.
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E N T E R T A I N M E N T
Humble BeginningsIt all started in 1868, in the United States
of America, with a pharmacist called
John Stith Pemberton. While his name
might not be important, what is all the
more important is the drink he crea-
ted: Pemberton’s French Wine Cola,
what was later to become Coca Cola.
Originally marketed as a headache to-
nic, and actually including both wine
and coca, Pemberton’s drink quickly
became one of the most popular in At-
lanta. However, the prohibition of 1886
prompted Pemberton to get creative.
He remade the drink with sugar instead
of wine, renamed it to Coca Cola, and
created the formula that would be the
basis of all modern Coca Cola drinks.
When Pemberton passed away in 1888,
he sold his stake in the store to Asa
Candler, the man who made Coca Cola
into the juggernaut that it is today. Wit-
hin three years of buying Coca Cola,
he had increased sales tenfold, and
he wanted more. He started a massive
advertising campaign, handing out cou-
pons, giving out free gifts, and promo-
ting Coca Cola in any way possible. He
was so effective at this, that only 6 years
after Pemberton’s death, Coca Cola
was not just limited to Atlanta, but was
sold from coast to coast, and consumed
in every state in between.
Marketing MadnessAs the Coca Cola company began ga-
thering power, so did their marketing
prowess. Their massive marketing
campaigns quickly made the company
an instant classic with the American
market. The skimpy clothing featured
in earlier ads, where women would be
seen walking along beaches, was a
great success. Soon coasters, serving
plates and outdoor ads featured the
women as well, and an entire league of
women would soon follow, creating a
collector’s club just for the apparel por-
traying Coca Cola’s women. The repu-
tation of Coca Cola had started to grow,
and their marketing cemented them as
a solid choice for a hot summer’s day.
However, the Coca Cola company’s big-
gest problem was exactly that: their
drink was drunk only in summer. To re-
medy this, the Coca Cola company had
to find the one thing people associate
with winter. Up until then, Santa Claus
existed in a variety of forms and ways
in the United States. Whether it was as
the small-statured Father Christmas
amalgam from Britain, the tall, white-
haired bishop from the Netherlands,
Sinterklaas, or the German-born Chris-
tkindl, they all existed simultaneously.
Over the years, the forms had started
to merge into one figure, Santa Claus, a
bastardization of the name Sinterklaas,
but there had never been a clear con-
sensus on what he looked like.
The Santa SolutionThat all changed when one smart exe-
cutive at the Coca Cola Company de-
cided to latch Coca Cola on to Santa
Claus’ growing popularity and fame,
and let the company use the fame for
their own benefit. It all started in the
1920’s, with the depiction of a stern
Santa Claus in his now traditional red
and white. He resembled more the old
Sinterklaas of Dutch traditions, with his
demeanor and looks. While the general
populace took to him, Coca Cola deci-
ded they wanted a more human Santa,
one that people would relate to.
And so Haddon Sundblom came to
fame. In 1931, he was commissioned
to reinvent Santa: make him believa-
ble, relatable, and symbolic, all at the
same time. And so, Santa Claus was
born. Instead of having a man portray
Santa, Sundblom created a man that
was Santa himself; a bearded, jolly old
man, with a big belly and rosy cheeks,
that hid a great smile. And the gene-
ral population took to him fast. Soon,
Santa became synonymous with Coca
Cola, and people started drinking Coca
Cola even in winter. The campaign had
worked, and Coca Cola had created a
modern-day legend.
Coca Cola went on to become a house-
hold name, a drink that people drank
at all times of the year. And the image
of Santa Claus, with the big, red, rosy
cheeks, became the man we now know
all around the globe. And while many
might know Coca Cola, and Santa Claus
too, not many know of the pivotal role
that a company famed for soft drinks
played in the creation of a man more
famous than the pope. One thing is for
sure, though: no matter how famous
you are, anyone might benefit from a
little marketing.
A Coca Cola Christmas [continued]
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U N I V E R S I T Y
Duisenberg school of finance
By Kim van Adrichem
THE DUISENBERG SCHOOL OF FINANCE (DSF) OFFERS SOME OF THE MOST COMPREHENSIVE BUSINESS AND CORPORATE LAW MASTERS IN THE NETHERLANDS AND THE REST OF EUROPE AND GRADUATES FROM ALL OVER THE WORLD OPT TO FOLLOW ONE OF THEIR CHALLENGING PROGRAMMES IN AM-
STERDAM. TO GET SOME INSIDE INFORMATION AND FIND OUT WHAT THE DSF IS REALLY LIKE, I INTERVIE-WED SANNE BLOM (26), A GRADUATE FROM EUR AND MORE RECENTLY FROM DSF. SOME MAY REMEMBER SANNE FOR HER HARD WORK, LEADERSHIP AND ACTIONS AS PRESIDENT OF THE 43TH EFR BOARD.
1. What did you study at the EUR?“When I started at the Erasmus Uni-
versity, I studied Dutch economics, but
soon realized that I wanted to bridge the
gap between theoretical economics and
real life business situations. This meant
learning the juridical part of business.
I decided to compliment my previous
studies with a law degree. Six and a half
years after the start of my studies I had
received both a Bachelor in Economics
and a Bachelor in Law, and I had star-
ted some Master courses at the EUR.
After that, I was President of the EFR
for a year, and then chose to study LLM
(Master in Finance and Law) at DSF.
2. You were at DSF. How did you find out about this school? And why did you choose to study LLM?“I was looking for a Master in the Ne-
therlands, because abroad it’s impos-
sible to obtain the ‘civil effect’ which
you need to become a court-approved
Dutch lawyer. Knowing I needed to con-
tinue my studies in the Netherlands, I
followed the advice of a personal con-
tact who was familiar with the school
and decided to grab this opportunity. I
studied at DSF in the study year 2009-
2010 which was actually only the se-
cond year that they were in existence.
The whole idea behind DSF is that clas-
ses are small and interactive. Classes
did not exceed 20 participants unless
you do common courses with students
from all the other programmes at DSF. I
know that they will not admit more than
30 students per programme because
they want to stay small, exclusive and
they want to offer the students a con-
centrated environment where the focus
is completely on the theoretical aspect
and practical cases.”
3. Is the school exclusive? “Yes, I would say that it’s exclusive. Not
only because it’s small and there are
strict preliminaries, but also because
of the opportunities that it offers. All
my fellow students had achieved good
marks at their previous universities and
several had already followed a Master
elsewhere. The tuition fees are also
higher (around €26 000) since it is a
private school, but you get what you
pay for. You get taught by several high-
quality professors. DSF is really able to
get some top-notch professors from
all over the world to teach lectures so
you are in surroundings where theory
truly meets practice. Perhaps it is be-
cause of the school’s exclusivity that so
many company recruiters are attracted
to DSF students. It really gives you an
edge when looking for a job.
4. How is DSF different from the EUR?“DSF is smaller and the students that
attend are very ambitious. The results
which are achieved and expected are
very high and the study load is quite in-
tense. All lectures are in fact mandatory
and there are many case studies which
you have to do in small groups. I spent
around 50-60 hours a week on studying
to constantly keep up with the material,
because if you fall behind it’s hard to
catch up. One of the things I like is that
you can choose the subjects you want
to specialize in; if you prefer corporate
law then you can choose to focus on EU
based law or US based law and deve-
lop a deeper knowledge of the systems.
There is also a mandatory requirement
that you finish the Master within one
year. And you have to write your the-
sis and do a summer internship at the
same time in May/June. An internship
is a very important part of the program
and will grant you ECTS. DSF can help
you get an internship with companies
such as Philips, RBS, Goldman Sachs,
ING, Aegon, to name a few. ”
5. What are your career options after gaining a Master at DSF?“Actually, many students end up wor-
king for the company they did an in-
ternship with. My co students are
currently employed by top- tier banks
like Goldman Sachs, Morgan Stanley,
JP Morgan and BarCap. Others are
working for companies like Aegon or
APG and some are pursuing a PhD at
renowned schools like LSE. It’s inte-
resting, because most international
students decide to stay in Amsterdam
while the Dutch students aspire to
work abroad. I am currently finishing
up my two Master theses at EUR and
then will try to get a job at a high-pro-
file investment bank.”
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While for some of us the start
of our career is still very far
away, others are slowly ne-
aring the end of their Ba-
chelor’s or Master’s Degree.
To give students an idea of
the possibilities after their
university degree, we’ve
decided to interview young
professionals, who have just
started their career, because
in five years’ time, this could
be you. For this Eclaire, we
have chosen Julie Cook, trai-
nee at the Schiphol Group. A
company that honers being
Netherlands mainport and is
thereby orientated within an
international nature.
Thank you for the interview.
First off, would you like to
introduce yourself?
My name is Julie Cook and
since September trainee at
Schiphol Group. As a former
student of RSM, I studied
Business Administration in
Rotterdam. After my intern-
ship for ABN AMRO in London
and Heineken in Congo, I
decided that I wanted to work
in a dynamic environment for
an internationally-oriented
Dutch company. Since Schip-
hol fit this bill perfectly, I de-
cided to apply for their trai-
neeship.
That’s quite a resume. Why
did you choose to work for
Schiphol Group?
Schiphol has always fascina-
ted me. Every time while pas-
sing by Schiphol, I marveled
at the dynamic environment.
It made me wonder how they
got people to their travel des-
tinations, as smooth and fast
as they did. Schiphol is a real
AirportCity, it has the same
size as Utrecht, with so many
different operational areas.
Which will make my work
and career multidimensio-
nal. Another aspect that trig-
gered me is the question how
Schiphol can grow and make
an economic profit, while ha-
ving so many social responsi-
bilities and stakeholders.
When I finished my Master’s
degree, I decided to inform
after jobs at Schiphol, and
that’s how I found out about
the trainee program that they
started just this year. The trai-
neeship was a perfect way to
get to know the company: you
work on 4 projects over the
course of 2 years, in various
departments of Schiphol. A
trainee is responsible for ac-
quiring a minimum of 2 pro-
jects, as Schiphol stimulates
self-sufficiency among its
newly recruited employees.
So you started the trai-
neeship last September. How
is it so far, and what projects
are you working on now?
The first project I was assig-
ned to is involved with Schip-
hol’s Asset Management.
Schiphol’s strategy is to focus
on our core competences,
therefore our Board decided
to focus on managing on a
strategic and tactical level,
and to outsource the activi-
ties on the operational level.
In parallel this means that
we will work more in a Part-
nership with our contrac-
tors. We’re used to manage
our assets on operational
level partly in-house. This
means that Schiphol did all
the planning for the routine
maintenance, and then out-
sourced the job, telling the
cleaners and workmen when
and how to repair travelators,
runways and other assets.
However, Schiphol decided to
outsource the complete ope-
rational level, and have the
planning done by external
organizations as well. And
that is where I come in: my
team is responsible for the
public tender, the reorgani-
zation and a successful start
on the 1st of April 2011. This
also entitles we are respon-
sible that employees whose
jobs would be outsourced,
got jobs at our maincontrac-
tors. This illustrates the hu-
man factor in our job as well:
with every step we take, we
have to consider all our sta-
keholders. And that is what
seperates Schiphol from
other companies. We need
to mind not just associated
companies, but also govern-
ments, nearby residents and
of course our employees. To
work here, you need to have
more than one perspective
on every case.
And are there people sup-
porting you in that task? It
seems like a lot to do, es-
pecially if you just joined the
company.
Yes. My team is not the only
team working on this project,
the whole department As-
set Management is involved
in the process. Besides the
department, Schiphol provi-
des all the trainees with a lot
of resources as well. Within
the company, we have three
reference points: a mentor,
who helps you develop your
career, a team supervisor,
who helps you with questions
about your work, and a buddy.
The buddy is usually in your
team, and helps you with your
personal development. On top
of that, there are extensive
seminars and trainings, and
so Schiphol helps you deve-
lop yourself, both individually
as well as in a team.
Talking about the trainees,
what is the culture?
As group of trainees we are
very tight. Before we started,
Schiphol organized two weeks
of introduction for us. They
showed us around Schiphol,
familiarizing us with every
department (Bagage, Se-
curity, Passenger Services,
etc.) in Schiphol, especially
on operational level, before
starting work. We just came
back from a holiday together,
and soon we’ll celebrate Sin-
terklaas together as well. So
there is a lot of interaction,
and we stay in touch outside
of work as well.
So you are really close. Is
the company culture compa-
rable?
The company culture is simi-
lar. People are friendly, and
there is little competition.
People are very involved with
Schiphol. They are very pas-
sionate about what they do,
and aviation in general. But,
like in all big organizations,
you do need perseverance
to get things done. But when
they do, it gives you an im-
mense sense of accomplish-
ment, knowing that you do
your part for the organization
you love. Changing things is a
challenge. But it’s an interes-
ting challenge, and I gladly
take it up. I can say with full
conviction that Schiphol is a
world of opportunities.
U N I V E R S I T Y
Trainee at… Schiphol Group
“It’s an interesting challenge, and I gladly take it up.”
NAME: Julie CookUNIVERSITY: Erasmus UniversityBACHELOR’S DEGREE: Business Administration MASTER’S DEGREE: Innovation Management and Finance & InvestmentsAGE: 26WORKING AS: Trainee
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Joy to the World, the Crisis has Come.
By Nadia Zafirah
IT’S STILL FRESH ON OUR MINDS WHEN THE US WAS HIT BY THE FINANCIAL CRISIS IN 2008. TRADING OF-FICES WENT INTO A PANIC, STOCKBROKERS WATCHED IN HORROR AS THE STOCK PRICES PLUMMETED, ECONOMISTS WORLDWIDE STARTED SPECULATING AND PREPARING FOR WHAT WAS GOING TO HAPPEN
NEXT. THE EFFECT WAS WIDELY FELT ALL THE WAY ACROSS THE ATLANTIC. NOT LONG AFTER, GREECE HAD A DEBT CRISIS AND CAUSED THE EURO TO DEPRECIATE AGAINST THE US DOLLAR, LEADING TO A CRISIS FOR THE EURO ZONE. THE ECONOMY HAS YET TO RECOVER FROM THE CRISIS AND CHRISTMAS IS ALREADY ON ITS WAY. NOW WE ARE WONDERING HOW IT IS AFFECTING THE ANNUAL BIG SHOPPING NOW AFTER MORE THAN A YEAR. WITH CHRISTMAS GIFT SHOPPING PLANS MADE EVERYWHERE LET US LOOK BACK ON THE NIGHTMARISH EVENTS AND THE EFFECTS TODAY.
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W O R L D
The CrisisTo refresh our minds, let us revisit the
causes and consequences of the 2008
financial crisis in the US. To sum it up
simply, what happened in the US in
2008 was that banks lent more money
than they could afford. Instead of ta-
king a traditional fixed-rate loan, many
Americans asked for loans that could
be repaid after a period of time without
penalty. The real estate brokers liked to
extend the penalties, the final due date
of the payment, encouraging more peo-
ple to borrow money to buy or renovate
houses. In February 2008, only a third
of American homeowners had paid
their mortgage completely. Lenders
extended credit to people without veri-
fying their incomes and allowed them
to make little to no down payments. As
a result, more amount of money was
loaned than what could be returned by
the consumers.
We would blame the banks and greedy
consumers who would like to consume
more than what they are able to. Howe-
ver, other people who are deemed well
off also fell victims to this situation.
This is because the incident, collapsed
housing prices and tightened lending
standards, happened just as they nee-
ded to refinance. The allowed credit-ex-
tend led people to refinance their spen-
ding to allocate the money to a college
fund instead of mortgage payments. In
a normal situation this might have wor-
ked out but in this case the refinancing
only caused the problem to worsen.
The other recent financial crisis is the
Greece credit default swap in 2009. A
credit default swap is a swap designed
to transfer the credit exposure of fixed
income products between parties. For
example, an insurance company with
higher rated bonds insures the debts of
a company with low rated bonds so that
the company can borrow money from
an institution. The problem starts when
there are too many low ratings bonds
insured by the insurance company
that the company’s own bonds start to
downgrade (losing their value). With no
investors interested in their low rated
bonds, the insurance company could
not pay back the insured companies
should the borrower not be able to pay
the debts. This is probably what happe-
ned in Greece. The value of the nation’s
bonds fell 12.6 percent in yield this year,
according to Bloomberg/EFFAS indices,
while the debt crisis has pushed the
euro down almost 7 percent against the
dollar since the end of 2009. A 750 bil-
lion euro loan was released in May 2010
by the European commission and the
IMF to finance the debt-laden Greece,
saving the currency and preventing
another global crisis from happening.
Nevertheless, the damage was already
done for the Euro, affecting the consu-
mer spending power in the euro-zone.
In February
2008, only
a third of
American
homeowners
had paid their
mortgage
completely
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The ConsequencesThe unemployment rate is probably the
one affected most by the 2008 finan-
cial crisis. Many European countries
are trading partners of the US; we are
export-dependent on them. The subpri-
me mortgage crisis caused the prices
of the house market and investment
portfolios to fall. The decreased wealth
among the Americans led them to save
more, in anticipation of more lay-offs
due to the uncertainties. Since then,
the US banks cut back on lending due
to fear of bad debts. The fall in domestic
spending affected the demand for im-
port including from the Europe expor-
ters. With the big fall in output demand,
many European companies and Europe
based companies cut their number of
employees to be able to continue busi-
ness. Based on the eurostat, the em-
ployment rate in the eurozone countries
fell from 66% in 2008 to 64.7% in 2009.
The effect was felt worldwide due to the
ripple effect brought by this unemploy-
ment situation.
Unless you are directly affected by the
unemployment, or living in Greece, the
buying power will not be altered greatly
by the circumstances. The economy is
in fact, getting better. Germany, Eu-
rope’s largest economy, claims that the
country’s unemployment rate will fall
from 7.7 percent in 2010 to 7 percent in
2011. The number of people looking for
jobs is expected to fall from 3.2 million
in 2010 to 2.9 million in 2011. Consu-
mers may want to put the worries away
and spend more because companies
will start hiring again.
Besides that, the more pressing is-
sue that affects the purchasing power
is the general price level. According to
Bloomberg, the European Central Bank
Governing Council member Patrick
Honohan said he sees that the Euro-
pean economy will be stronger and that
there is no urgent worry about the in-
flationary pressure. “There is every in-
dication that inflation expectations are
steady, are not moving around, and the
projection of actual inflation is still well
within where we would like it to be,”
he said. Such an assurance is a relief
due to the current circumstances and
moreover, the economy is improving.
Also, the improved consumer spending
in Germany will lead the economy to
grow more than double of the expected
rate of this year, the country’s leading
institutes said. This fast growth will aid
the region’s economic to recovery. The
European Commission also increased
its growth estimation for Germany this
year, saying that the GDP will increase
from the initially expected 1.2 percent
to 3.4 percent. Fortunately, the inflation
rate is still under control as in July, the
consumer prices increased for a mere
1.7 percent of the last year prices. As
the healthy level of inflation is main-
tained, the buying action of most of the
euro-zone countries will remain or fall
slightly.
The unemployment rate is improving
in the coming years and the inflation
will fall to the desired level. These two
conditions show that after two years
of US subprime mortgage financial
crisis, the euro-zone consumers can
stop worrying and spend more to help
make the economy better. Lightning
does not strike the same place twice
and no economy institute would allow
such crisis to happen again. Go ahead
with your shopping list and have a joy-
ful Christmas.
Audit Course Barcelona
werkenbijpwc.nl
Of weet jij een mooiere plek om aan je carrière te bouwen?
Je zit in de laatste fase van je studie Accountancy, Bedrijfseconomie of Bedrijfskunde. Of je volgt een andere studie en je hebt affi niteit met accountancy. Wil je PwC beter leren kennen, en heb je zin om je tanden in een auditcase te zetten en zo lekker aan je carrière te bouwen? Zorg dan dat je deelneemt aan onze Audit Course in Barcelona. Meld je vóór 3 januari 2011 aan door je cv en een motivatie achter te laten op werkenbijpwc.nl/auditcoursebarcelona
Audit Course Barcelona24 - 27 februari 2011
Lisa Ruizeveld de Winter088 792 61 [email protected]
Accountancy - Belastingen - Advies
Wat belangrijk is, laat je niet los.
Ik wil ruimte om te groeien. Waar zet ik de volgende stap?
Waar je ook bent, belangrijke beslissingen zijn nooit ver weg. In je rol als accountant en bij het bepalen van je volgende carrièrestap. Bij Grant Thornton begrijpen we dat je voortdurend bezig bent met je groei. Sterker nog, wij zijn er zelf ook mee bezig. Onder andere door jouw ambities alle ruimte te geven en door je talent te versterken met een goed doortimmerde opleidingsaanpak. Meer over ons op onze website.
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Grant Thornton bij jou in de buurt:Alphen aan den Rijn - Amsterdam - Boskoop - Gouda - Leiden - Rijswijk - Rotterdam - Woerden
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33
E R D
The Erasmus Recruitment Days 2011; Innovate. Succeed. Invent your career!
Theme.An important addition to this year’s
event is the theme; Technology &
Innovation. During the promotional
period, but also during the event,
there will be special activities that are
in line with the theme. For example,
we will use Ipad’s, ride on Segways
and we will have a Greenscreen. Not
sure what a Greenscreen is? Come
visit the stand in the C-hall in the
first week of January! During the Off
Campusday you have the possibility
to visit Google and Microsoft. Also,
there is a grand opening on February
2nd, where very interesting speakers
will discuss the theme. However, the
event’s main focus still is the contact
between students and companies.
CO2 Neutral.
The Erasmus Recruitment Days 2011
will be climate neutral. Particularly
when the theme is about innovation,
it is important to consider the
climate as well. Not every student is
aware of the impact a big event, like
the Erasmus Recruitment Days,
has on the environment. Companies
are considering the environment
in the choices they make and are
thinking of innovative ways to make
the way we work more climate
friendly. As an event that aspires to
connect companies and students,
we feel that we can achieve more
awareness for the environment
by setting a good example. In
cooperation with Eneco, together
with ING the main sponsor of the
event, all CO2 emissions created by
the Erasmus Recruitment Days will
be fully compensated. Interested in
what this exactly means?
Visit the website:
www.erasmusrecruitmentdays.nl.
The Erasmus Recruitment Days; open for everyone!The Erasmus Recruitment Days are
open for all studies! Also it doesn’t
matter what year of study you are
in, there are activities for everyone!
Please visit the stands in the
C-hall and T3 and visit the website:
www.erasmusrecruitmentdays.nl
for more infor mation. If you want to
be updated regularly, follow us on
Twitter; www.twitter.com/erd2011
or become a member on Facebook.
And don’t forget: Innovate. Succeed.
Invent your career!
EVERY FEBRUARY THE ERASMUS UNIVERSITY GIVES HOME TO THE BIGGEST ON CAMPUS RECRUITMENT EVENT IN THE BENELUX; THE ERASMUS RECRUITMENT DAYS. FEBRUARY 2ND TILL FEBRUARY 16TH AROUND 100 COMPANIES WILL VISIT THE CAMPUS FOR COMPANY
PRESENTATIONS, WORKSHOPS, INTERVIEWS, INFORMAL RECRUITMENT EVENTS, LUNCHES AND DINNERS. IT IS A GREAT OPPORTUNITY TO GET IN TOUCH WITH DIFFERENT COMPANIES, BOTH FORMAL AND INFORMAL, TO LOOK FOR A JOB OR INTERNSHIP AND TO ORIENT YOURSELF ON THE LABOR MARKET. ALTHOUGH THE WORD “RECRUITMENT” IS ASSOCIATED WITH 3RD YEAR BA-CHELOR- AND MASTER STUDENTS, THERE ARE POSSIBILITIES FOR 1ST AND 2ND YEAR STUDENTS AS WELL. OUR PROMOTIONAL PERIOD STARTS DECEMBER 6TH, AND ENDS JANUARY 7TH. INTERE-STED IN MEETING TOP COMPANIES? WANT TO KNOW WHAT BIG COMPANIES ACTUALLY DO? VISIT THE STANDS IN THE C-HALL AND T3 AND SIGN UP!
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E N T E R T A I N M E N T
Football is a sport of the people, of little kids with big dreams
and die-hard fans. Without those people, those fans, foot-
ball would not be the most popular sport in the world. It is
a sport in which billions of Euros are circulating (e.g. Real
Madrid has a budget of 450m Euros), and for which masses
of people tune in to see top teams like FC Barcelona play
on the weekends. But even though there is so much money
circulating, clubs are having problems to break even.
The income of clubs comes from the sales of all kind of
‘related’ articles, from t-shirts to towels, and of course the
tickets. But the income is mainly derived from television
rights and sponsors. Sponsors are willing to pay high fees,
since a live match will expose their brand to lots of people
at once. Performing at a bigger stage, like the Champions
League (for anti-football-readers who are still reading this
article: yearly European competition for top clubs), will
therefore raise a clubs income. By securing a spot in this
year’s Champions League, AFC Ajax increased its income
by at least 15 million Euros.
So clubs have a lot of income, however the greater part is still
having problems staying out of the red numbers. A problem
Michel Platini, president of the UEFA (European federation),
is trying to solve through ‘financial fair play’ regulations that
have to control the financial books of clubs. The ‘financial
fair play’ regulations contain eleven values. The main con-
cepts are that clubs have to finance their business activities
from their own generated revenue (not spend more than
their income), should be stricter and more punctual when
it comes to liabilities to others and have to show their fu-
ture plans with regard to financing their business activities.
SHOOTING MILLIONS: Transfers in the
football market
By Youvale van Dijk
94 MILLION EUROS, THE AMOUNT PAID BY REAL MADRID TO MANCHESTER UNITED FOR ONE SINGLE FOOTBALL PLAYER: CRISTIANO RONALDO. IT IS AN AMOUNT FEW OF US CAN GRASP. THIS TRANSFER IN THE SUMMER OF 2009 WAS A RECORD, HOWEVER IT IS PART OF A TREND
EMERGING OVER THE LAST COUPLE OF YEARS. A TREND IN WHICH STAR PLAYERS AND YOUNG TALENTS ARE HANDLED LIKE CATTLE FOR HIGHER AND HIGHER PRICES. WHY ARE CLUBS TRADING PLAYERS FOR EXCESSIVE PRICES WHEN MOST OF THEM ARE HAVING PROBLEMS KEEPING THEIR NUMBERS BLACK? AND WHAT SHOULD FIFA DO TO PROTECT THE PLAYERS?
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At the moment the expenses of a lot
of clubs are higher than their income,
hence the debt. Clubs pay high wages
and bonuses to both players and staff.
Furthermore, clubs are always looking
for players to add to their personnel.
And they acquire those new players for
outrageous fees.
Buying new players is a risky invest-
ment. At the end of the day you are
dealing with human beings. You can-
not predict any injuries or how a player
will adjust to a new country, club and
team. Despite these risks clubs are
willing to pay millions of Euros for pro-
mising players. Why? Well, they want
to increase their chances of winning!
A new player can strengthen the team
and can have a higher value, as there
is more money at stake. But not only
that, a star player will also generate
income with merchandising. However,
do these reasons justify the large ex-
penses and hence the debts so many
clubs have? No it does not, especially
since it does not fit the ‘financial fair
play’ regulations, which have to solve
problems like debt and unequal com-
petition.
The transfer market raises more is-
sues. One of them: talented players
are traded at younger ages, when they
are still relatively ‘cheap’. But these
promising youngsters are not always
ready. Like the eleven-year-old Micha-
el Gyasi who transferred to Chelsea
last October. He has become a subject
of contracts and transfer sums, while
his chances of becoming a star are
still small.
Other issues in the transfer market are
money laundering and unfair competi-
tion, as some countries allow clubs to
have debt while others do not.
FIFA (international federation) is trying
to regulate this transfer market.
In October FIFA launched the Transfer
Matching System (TMS), which must
be used for all international football
transfers. TMS is an online system,
which asks selling and buying clubs
for around thirty details about the
player and the clubs. Copies of con-
tracts and related papers have to be
handed in as well. This information
has to be the same for both clubs;
otherwise the transfer will be blocked.
“The most important thing is that it in-
creases the transparency of individual
transactions and helps us to tackle is-
sues such as the fight against money
laundering and the protection of mi-
nors in transfers,” said FIFA president
Joseph S. Blatter.
But only the future will tell how effec-
tive the Transfer Matching System is
and whether clubs will take any notice
of the ‘financial fair play’ regulations
of Platini. So when the new transfer
window opens in January 2011, we
will see which clubs have the balls for
risky, but financially fair play, invest-
ments.
“A trend in which
star players and
young talents are
handled like cat-
tle for higher and
higher prices.”
35
Top 5 Transfer sums
Name Year From ToAmount in
Euros
Cristiano Ronaldo 2009 Manchester United Real Madrid 94 m
Zinedine Zidane 2001 Juventus Real Madrid 75 m
Zlatan Ibrahimovic 2009 Internazionale Barcelona 66 m
Kaka 2009 AC Milan Real Madrid 65.1 m
Luis Figo 2000 Barcelona Real Madrid 58.5 m
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E N T E R T A I N M E N T
Christmas tree, oh Christmas tree
But the cost of real pine trees is exceptionally
high- almost as high as the tree itself. Whilst it
might seem rather ordinary for those countries
that actually have a white seasonal time, it is a
different tale for those where the sun blazes on
through December.
For some pagans the evergreens that survived
the frigid winter were a sign of magic. These
trees survived while all others froze and hiber-
nated. For the Romans the tree was in honor of
the God Saturn who was the god of agriculture.
For the Celtic Druids from the north it symbo-
lized life in the darkest day of the year through
the Winter Solstice. These same trees are the
tinsel clad Christmas trees of today.
What is so good about a real Christmas tree? To
many the smell of pine cones alone brings the
special touch of nature into their living rooms.
The naturalistic droop of the branches, the rich
intoxicating smell placing emphasis on things
other than puffy cheeked, overweight Santas,
who almost always seems to be laden with gifts
ranging from your most basic kitchen utensils
to the bling diamonds in tiny velvety boxes.
It’s the nostalgia that the smell brings that lin-
gers around. How many times as a child have
you woken up on the morning of the 25th to go
scramble under the tree for your presents?
How many hours have you spent all those years
hanging all that tinsel, fairy lights, stars, an-
gels and Santas across the branches?
A Christmas tree is something one can hold on
to, like a memory. Like a graduation day photo.
Like a particularly rewarding Easter egg hunt.
A wedding day kiss. The tree is what every me-
mory makes of it, that rich intoxicating smell
arousing the memory, and somehow as we
grow older, the unwanted memories fade- the
fights between the siblings, harsh words, for-
gotten expectations and voids, and we are left
with the good times that the scent of the trees
conjures for us. This same nostalgia will make
us spend those extra dollars more, to drive tho-
se many miles more, regardless of whether we
celebrate from the tropics where the summer
sun shines throughout the year to December or
to wintery Europe, to get the “real” thing.
To some families it’s the importance of tradi-
tion. A birthday is never really complete without
the cake with lit candles. A Christmas is never
Christmas without that tree. That tree is the
image of home and family. Most families still
want a “traditional Christmas” despite the still
dark economic times. The quantity of gift wrap-
ped parcels will diminish but not so the num-
ber of trees.
By Manavi Mendis
THERE IS SOMETHING RICH AND ALLURING ABOUT THE SMELL OF FRESH PINE LEAVES ACROSS THE CORNER OF YOUR LIVING ROOM. AND WHEN IT’S DRAPED IN TINSEL,
FAIRY LIGHTS AND CANDY CANES IT’S A PRETTY SIGHT.
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E N T E R T A I N M E N T
A real Christmas tree brings with it that special “touch
of nature” that, to many, cannot be replaced by the syn-
thetic, almost symmetrical branches of either the too-
green or too-white trees that get churned up from
factories. Even whilst we are all still on the rebound
road from the global financial meltdown, the
sales of real Christmas trees look as bright as
the fairy lights.
Besides, the evergreens from the forest
depths have higher green ratings –
almost five stars. They decompose
fast enough, while the plastics,
as we have all being made well aware, will
take a couple of lifetimes multiplied. Gary
Chastanger, a Washington State Univer-
sity professor of plant pathology points
out that “these plants we are talking
about…they are grown as crop,” not
axed off from nature. So to all
those green people, make this
is the choice for a gift laden, tinseled clad tree.
So this year when Santa with Rudolph starts his slip-
pery sleighing journey across the polar caps via a
dizzying array of advertisements displayed from
YouTube to News at 7 from the start of October
right till 24th eve, what will be your tree choice?
A tall green from nature? A symmetrical
white from a production line? Or some-
thing less elaborate all together, but
just as Christmassy in a trendy style-
simple branch with a few feathers
and a star?
Whichever way your festivities will lead
you to decorate your living room, make
it one that a) fits your budget b) brings
back the memories of Christmas’
past c) you can lade with lots of gift
wrapped boxes. After all what is
Christmas without a tall tree,
and taller tales?
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E N T E R T A I N M E N T
1 In bed with your 11 cats
2 Drunk under or on the bar
3 In a plane
4 Hitting on the on-duty police officer
5 Giving birth to octoplets
6 Playing World of War Craft at a
cyberspace party
7 Sending naughty New Year’s texts to
the wrong person
8 In the hospital holding 7 fingers
9 Stuck in an elevator with a walking
biohazard
10 In jail for stealing lawn gnomes
10 ways to…10 worst (best?) ways to spend New Year’s…
A world of OPPORTUNITIES
AU D I T TA X A DV I S O RY
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DE JA ARREKENING VAN EEN GROOT RECL AMEBURE AU
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