Global Briefing: May 20, 2002

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Banking for Illegals

Undocumented Mexican workers in the U.S., who often pay as much as 25% in surcharges to wire money to family and friends across the border, now have a less expensive option. At Wells Fargo, Bank of America and other institutions in the Western U.S., Mexicans no longer need proof of legal residency to open an account but can instead present an identification card issued by the Mexican consulate. This month B. of A. launched a money-transfer system called SafeSend, in which customers can use a phone or the Internet to transfer money into an escrow account. The recipient in Mexico--who would have been mailed a SafeSend card--can then access the account from any ATM. Remittances to Mexico topped $9 billion last year, and the banks hope to capture some of that business. Says Jeffrey Bierer, project manager for SafeSend: "In order for Bank of America to meet its goals, we need to be the bank of choice in the Hispanic community."

Business as a Jazz Band

If the metaphor for old-economy companies is a symphony with musicians who never deviate from the parts their conductor assigns, then today's successful corporation is more like a jazz ensemble: from the CEO down, everyone needs to learn to improvise and play off one another. That's the lesson of Jazz Impact, a business-improvement seminar created by Minneapolis, Minn., bassist Michael Gold for clients that include General Mills and Starbucks. "In jazz improv there is a specific tune that we use as the common ground, yet someone can present a unique version of the tune," says Gold. "This type of thinking has to be able to happen for companies to be innovative." During a 90-minute presentation with a live ensemble, Gold shows, with words and music, how jazz players trade the roles of leader and accompanist, sending one another body cues to signal change.

FROM OUR READERS

--MAKE MINE A MARTINI

Our story about high-end tequilas in the Feb. 25 issue inspired this spirited response:

As a charter, and perhaps last, standing member of the Lower Montgomery Street Olive or Onion Society, established in 1956 in search of the perfect civilized martini, I cannot believe San Franciscans have come to embrace a cactus distillate requiring several buffering additives to become palatable. Herb would never have allowed it. BRUCE A. STEELE, Scottsdale, Ariz.

Executive Fashion --The rag trade gets some high-tech help