Afternoon Coffee: Monitor Group’s Bankruptcy, US Oil, Pilot Shortages, Con Edison and NYC

"too elite to fail..."
Monitor Group Goes Bankrupt: Why Services Procurement and Risk Management Best Practices Matter -- Did you know Michael Porter had an unpublished sixth force – bankruptcy? While we say this in jest, the recently announced bankruptcy of the consultancy that he founded, Monitor Group, is no laughing matter. At the time of the filing, Monitor had approximately 1,500 employees, making it smaller than some of its peers in the top-tier strategy consultancy league (including Bain, BCG and McKinsey), but still a highly influential firm on the global management consulting stage due to the senior relationships that it had.

Look out, Saudi...
Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says -- "By around 2020, the United States is projected to become the largest global oil producer" and overtake Saudi Arabia for a time, the agency said. "The result is a continued fall in U.S. oil imports (currently at 20% of its needs) to the extent that North America becomes a net oil exporter around 2030." This major shift will be driven by the faster-than-expected development of hydrocarbon resources locked in shale and other tight rock that have just started to be unlocked by a new combination of technologies called hydraulic fracturing.

"U.S. airlines are facing what threatens to be their most serious pilot shortage since the 1960s..."
Airlines Face Acute Shortage of Pilots -- Federal mandates taking effect next summer will require all newly hired pilots to have at least 1,500 hours of prior flight experience--six times the current minimum--raising the cost and time to train new fliers in an era when pay cuts and more-demanding schedules already have made the profession less attractive. Meanwhile, thousands of senior pilots at major airlines soon will start hitting the mandatory retirement age of 65.

"one of the world's most reliable 'energy delivery systems'"?
Brave New World for Big Apple's Power Grid -- Con Edison, which supplies over 3 million customers electric power in an area spanning 1,564 square kilometers, serves the densest load pocket on the planet. Con Edison is thus not the normal utility and the system it oversees is anything but simple. Con Edison has championed the basic network design of its electric system as the key to delivering highly reliable electric service in New York City.

- Sheena Moore

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