Archive for September, 2006

“a thousand tiny shackles on innovation”

Tuesday, September 5th, 2006

The NY Times has a good portrait of another industry fighting innovation; this time, it’s real estate.

In February, [Redfin] introduced a Web site that automates the bidding process — and the commission rebates. The sale of a $500,000 house, for example, typically yields a 3 percent commission of $15,000 for the buyer’s agent. A Redfin customer would get $10,000 back.

“At that point we became a true pariah to the industry,” said Rob McGarty, Redfin’s director of West Coast operations.

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A consummate listener

Monday, September 4th, 2006

From the Economist’s obituary of Naguib Mahfouz:

He was a perfect gentleman: self-effacing, tolerant to a fault, and a consummate listener. Into his 70s he prowled far across the city on solitary early-morning walks, typically ending up in one of the many cafés where he was greeted as a returning son of the quartier. Into his 90s he rarely missed his weekly gathering of intimates at some public watering hole. There he soaked up the endless tales of woe, the political gossip and wicked jokes that provide the spice of Egyptian life.

I don’t read many novels lately, but his Cairo Trilogy is back on my shortlist.