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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them

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“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo

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Center for Family Conversations

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The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.

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THE TYCOON PLAYBOOK – How Business Empires Are Built

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The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.

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  • Dow soars more than 400 points December 18, 2014
    Stocks soared for a second straight day with the Dow topping 400 points for the first time since November 2011 and the S&P 500 posting its biggest jump since January 2013. Leah Duncan reports.
  • Mixed reviews on Sony movie cut December 18, 2014
    Sony's controversial decision to cancel the release of "The Interview", is getting mixed reviews- some saying they had no choice- but others fearful of the broader consequences to hollywood. Bobbi Rebell reports.
  • EZ leaders grapple with economy, Russia December 18, 2014
    Ahead of the last summit of European leaders this year, German chancellor Angela Merkel warns there's no quick and simple fix to the euro zone crisis. The economy is top of a heavy agenda for the two-day meeting, as is the possibility of further sanctions against Russia. Joel Flynn reports.
  • I give Sony Pictures leadership a "D"-Mike Paul December 18, 2014
    Reputation consultant Mike Paul, President of Reputation Doctor LLC, says the current crisis at Sony is a failure of leadership, and a change is needed. Bobbi Rebell reports.
  • Breakingviews: Biotech bonanza December 18, 2014
    Robert Cyran and Reynolds Holding discuss Juno Therapeutics' IPO and the prospects for its cancer drug as well as other promising technologies in the booming sector.
 
 

Financing

 
  • Startup Company Challenges with Tomasz Tunguz

    Startup Company Challenges, Dynamics and Best Practices with Tomasz Tunguz (Redpoint Ventures)   Tomasz Tunguz is a partner at Redpoint Ventures and the author of one of the most active and insightful blogs about startups on the internet today. Tomasz speaks to some of the more salient issues that he has written about and posted. These include trends in the early-stage financial markets; best practices when building a startup including marketing tactics, sales team construction, and unit economics; and more. 

     
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  • LOYAL3 CEO Barry Schneider – We Get To Invent Every Single Day

    LOYAL3 CEO Barry Schneider: We Get To Invent Every Single Day   How do you democratize the stock market? Chairman and CEO Barry Schneider shares LOYAL3’s vision and driving principles for the five-year old startup. LOYAL3 allows companies going public to sell IPO stock to individual investors at the same price as Wall Street. Schneider explains why his company is taking risks and going beyond the status quo to disrupt the capital markets: “There has been precisely 3 IPOs that have ever been crowdsourced. We’ve done them all.” They helped AMC Theatres and Santander Consumer USA go public.Schneider also shares three important values that make up his company’s culture: integrity, innovation, and interdependence. Schneider guest lectured in JD Schramm’s Strategic Communication course on Monday May 19, 2014 where this talk was originally delivered. 

     
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  • The Importance of Picking the Right Investor with Carl Showalter

    The Importance of Picking the Right Investor with Carl Showalter   A relatively recent phenomenon has complicated the investment landscape confronting the founder of the early stage company looking for funding. There used to be a time not too long ago when a founder had only two investor categories to choose from: angels or institutional VCs. Today, it is not that simple. The ecosystem of investors in the Bay Area includes angels, super angels, incubators and accelerators, corporate VCs, the institutional VC community (which itself has fragmented into side funds and specialties), crowdfunding, “demo” days, and the like. Even private equity firms and investment banking firms are coming “down market” to invest in startups, presenting the founder with a bewildering array of choices.   Our speaker, Carl Showalter, a partner at Opus Capital and an experienced investor with a long history in Silicon Valley, offers insights and wisdom on how a founder should think about the fundraising process. When is the right time to raise funding? How much money should the founder raise? What part of the investor ecosystem should a founder go to first? Is crowdfunding as good as it looks? What business models still require bootstrapping as a first step? When is the right time to bring in an institutional VC? 

     
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  • Meshulam Riklis’s Growth Strategy by Peter Ireland

    Meshulam Riklis’s Growth Strategy by Peter Ireland

    How Did Tycoon Meshulam Riklis Make His Fortune?   Money is to look at, not to use. – Meshulam Riklis   One of the questions that I get asked on a regular basis is about the possibility of following the tycoon growth strategy without employing debt. The answer is that it is possible to do so. Over the years I have participated on the buy-side in a number of deals with debt averse buyers. One Russian transportation company comes to mind. The management team had basically been given the company for free by the Russian government shortly after the collapse of the USSR in 1991. The managers then threw themselves fully into growing the company internationally, including in the USA. However, their steadfast rule remained “no debt.” Every acquisition had to be financed with internally generated cash.   The downside to avoiding debt is that it will take longer to get started and, thereafter, growth will be slower. However, some people just prefer to avoid the use of debt. In thePlaybook we focus on those who utilize well-managed debt to grow because it’s easier to start that way and the growth rate is far higher. If you are starting out without a large war chest, it’s imperative to be creative about financing. If you wait for the heavens to drop your grubstake into your lap, you will be waiting forever. The lesson is start small and fast, then build momentum.     Tycoons are masters at the creative financing needed to get rolling. Once you learn the basics of deal-making from them and have achieved a critical mass almost any deal becomes do-able. The challenge is to get started today with what you have. Tycoons have a great deal to teach us about getting off our duffs and starting one step at a time. Let’s take a look at what I mean by this.   One of the financial tools used by tycoons is leverage. This simply means that they will use as much debt as possible to put the financing together for a deal. In many cases, for every dollar of equity they invest there are four to nine times as many dollars of debt. We could spend a great deal of time going over how this is done but today I want to leap-frog the topic to someone who took leverage to an extreme.   I refer to Meshulam Riklis who described his financing strategy as “the effective nonuse of cash.” He summed up his financing philosophy as “Money is to look at, not to use.” Recall the old joke about bankers: they will only lend you money when you can show that you don’t need it and slam the door in your face when you do need it. The joke captures the catch-22 faced by borrowers. Riklis came up with a beautiful solution to the problem which he described in the following words:   Mergers may serve several purposes, but they usually have one single aim at the start. That aim […]

     
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  • CNBC Squawk Box: Sen. Warren Leads Charge to Break Up Big Banks

    CNBC Squawk Box: Sen. Warren Leads Charge to Break Up Big Banks Senator John McCain and Elizabeth Warren are teaming up to break up the megabanks. Massachusetts Senator Elizabeth Warren joined the Squawk Box team on Friday, July 12th to discuss this new bill.  

     
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  • Financing your Family Business without Going Broke

    Financing your Family Business without Going Broke

    Financing your Family Business without Going Broke Financing is indispensable for the success and growth of your family business. But after you’ve already tapped out your personal funds, and perhaps those of friends or other family members to get your business up and going, you’re going to have to find a way to keep the lights on without going broke. That means you’re going to have to borrow money or obtain credit from a variety of institutional lenders. Business loans and lines of credit will allow you to cover expenses, buy new equipment, manage cash flow, purchase inventory, create new products or services, or expand your business when the circumstances are right. If your business is new and doesn’t have an established credit history, you may need to provide collateral to secure a loan or credit line. This could be any personal assets that you cannot otherwise monetize or afford to spend on the business, but can be utilized as security. Your best bet would be to approach a local bank or credit union where you have a personal relationship and a history of sound money management. If your business does have a positive credit history for at least a year or two, the commercial bank that issued your business credit card is a good place to go to apply for a line of credit. Make sure that you’ve paid the balance on that card promptly each month, and if necessary, let the bank know that you’ve been shopping around and intend to move any accounts to the lender that can provide credit with the best terms. Most banks will want to keep you as a customer. Regardless of the age or reputation of your family business, or where you go for financing, you’re going to have to prove to every lender that it is a financially solid concern, with the capability of long-term survival. So make sure you have all your paperwork in order, including all financial and tax statements, all profit and loss history, as well as a list of contacts for credit references. You’ll also need to provide a pro forma to each potential lender. This will be a description of how you intend to utilize your loan or line of credit, how it will affect your cash flow, and how you anticipate paying back the money you’re going to borrow. Once you’ve secured funding, make sure you stick religiously to a repayment schedule. As you continue to display credit worthiness, you will be able to increase your credit limit, borrow at more favorable rates, and most important, keep the business going without going broke. Al Krulick is an award-winning journalist with dozens of years of writing experience. He writes and blogs for Debt.org.

     
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  • Becoming Your Own Banker, The Infinite Banking Concept

    Becoming Your Own Banker, The Infinite Banking Concept

     
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  • Shark Tank: Meet the Sharks at Babson

    Shark Tank: Meet the Sharks at Babson ABC Television Shark Tank Hosts/Entrepreneurs Daymond John & Mark Cuban visited Babson College Tuesday, November 29th. The entrepreneurs held a Meet The Sharks event with Babson student businesses True Intentions and Spy Games as well as participated in a Q&A with the student audience. Daymond John is the Entrepreneur-in-Residence at Babson College 2011-2012. Daymond’s creative vision helped revolutionize the sportswear industry in the 1990s. As founder, president and chief executive officer of FUBU—”For Us, By Us”—Daymond created distinctive and fashionable sportswear and a host of other related gear. FUBU’s phenomenal success made mainstream apparel companies realize the potential for fashionable sportswear that appeals not just to trendsetting urban youth, but to mainstream teens as well. Mark Cuban is the highly successful entrepreneur and investor who founded HDNet, Broadcast.com and MicroSolutions. He has also been an investor in startups, including Mahalo, JungleCents.com, motionloft.com, Filesanywhere.com, Naked Pizza and 140Fire.com. Mark may be best known for his purchase of the Dallas Mavericks on January 4, 2000. Under his leadership, the team’s home games have become a total entertainment experience. Despite initial criticism, he added much more to the usual game-day experience by introducing original video content, advanced technology and unique entertainment options like the Mavericks ManiAACs. His successful efforts have brought a sense of pride and passion to the fans.  

     
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Family Office Newswire

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The #1 Family Office Newswire That Empowers Family Dynasties. Over 6,400 Posts and growing rapidly with relevant topics!

Learn from Billionaires How To Handle Your Family Wealth.

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UHNW Wealth Newswire

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The #1 UHNW Wealth Newswire For Living Your Dreams. Over 3,400 Posts on important topics that show you the Secrets of Accumulating and Preserving Wealth!

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The #1 Family Business Newswire That Helps You Move From Success to Significance. Over 3,200 Posts On Key Factors To Build A Profitable and Sustainable Business!

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Philanthropy Newswire

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The #1 Philanthropist Newswire For Leaving A Legacy From The Heart. Check out the latest trends in philanthropy today. Also. learn why some of the greatest philanthropists in history believe in gratitude and giving!

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Lugen Family Office Proudly Supports AIP

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The International Association of Advisors in Philanthropy is the leading charitable giving organization in the world for inspiring collaboration among professionals.

Enzo Calamo,
AIP Ambassador, Past President

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  • Tom Petters Net Worth December 18, 2014
    Tom Petters Net Worth: Tom Petters is an American businessman who has a net worth of $50 thousand. Tom Petters was born in St. Cloud, Minnesota in July 1957. He was the chairman and CEO of Petters Group Worldwide but was convicted of massive business fraud in 2009. Petters is imprisoned at the United States […]
  • Martin Cummins Net Worth December 18, 2014
    Martin Cummins Net Worth: Martin Cummins is a Canadian actor who has a net worth of $500 thousand. Martin Cummins was born in North Delta, British Columbia, Canada in November 1969. Cummins is best known for his role as Ames White in the TV series Dark Angel. Martin studied at the Vancouver Actors Studio. He […]
  • Buddy Nielsen Net Worth December 18, 2014
    Buddy Nielsen Net Worth: Buddy Nielsen is an American singer and musician who has a net worth of $300 thousand. Buddy Nielsen is best known as the lead vocalist for the post-hardcore band Senses Fail. Senses Fail formed in 2002 in Ridgewood, New Jersey. Nielsen is the only original member of the band still remaining. […]
  • Donald Goines Net Worth December 18, 2014
    Donald Goines Net Worth: Donald Goines was an African-American writer who had a net worth of $500 thousand. Donald Goines was born in Detroit, Michigan in December 1936 and passed away in October 1974. Goines wrote urban fiction and his novels were greatly influenced by the work of Iceberg Slim. Goines lied about his age […]
  • Brooke Anderson Net Worth December 18, 2014
    Brooke Anderson Net Worth and salary: Brooke Anderson is an American television correspondent who has a net worth of $2 million. Brooke Anderson was born in Savannah, Georgia in May 1978. Anderson is a correspondent for Entertainment Tonight since 2013. She was formerly a co-host of The Insider and was a culture and entertainment anchor […]
 

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