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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“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
Center for Family Conversations
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.
THE TYCOON PLAYBOOK – How Business Empires Are Built
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.
- Brent steady below $60, heads for fourth weekly decline as oversupply persists December 18, 2014SINGAPORE (Reuters) - Brent crude held below $60 a barrel near a 5-1/2-year low on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year.
- Thai Union Frozen to buy North American tuna firm Bumble Bee for $1.5 billion December 18, 2014BANGKOK (Reuters) - Thai Union Frozen Products PCL , the world's largest canned tuna producer, said on Friday it has signed an agreement to acquire 100 percent of North American tuna company Bumble Bee Foods for $1.51 billion from a private equity firm.
- China 2013 GDP revision won't affect growth this year December 18, 2014BEIJING (Reuters) - China has revised up the estimated size of its economy for 2013 by 3.4 percent to 58.8 trillion yuan ($9.5 trillion), the National Bureau of Statistics said on Friday, but said the revision will not affect economic growth this year.
- U.S. to sell final $1.25 billion shares of Ally Financial from bailout December 18, 2014(Reuters) - The U.S. Treasury Department will sell its remaining 54.9 million shares of Ally Financial Inc acquired under the government's bailout of the auto lender, Ally said on Thursday.
- Unilever drops mayonnaise suit against Just Mayo maker December 18, 2014(Reuters) - Unilever Plc's U.S. division said it has withdrawn its lawsuit against food startup Hampton Creek over false advertising and unfair competition related to its Just Mayo product.
- China 2013 GDP revision won't affect growth this year December 18, 2014BEIJING (Reuters) - China has revised up the estimated size of its economy for 2013 by 3.4 percent to 58.8 trillion yuan ($9.5 trillion), the National Bureau of Statistics said on Friday, but said...
- BOJ stands pat, offers brighter view on economy December 18, 2014TOKYO (Reuters) - The Bank of Japan kept monetary settings unchanged on Friday and offered a more upbeat view on the economy, signaling that no immediate expansion of stimulus was on the horizon.
- Japan's Amari: weak yen, falling oil prices good for economy December 18, 2014TOKYO (Reuters) - Japanese Economics Minister Akira Amari said on Friday that a weak yen is benefiting the country's exporters and that a fall in oil prices is also good for the economy.
- Asian stocks extend bounce on Wall Street, Fed cheer December 18, 2014SYDNEY (Reuters) - Japanese stocks led Asian markets higher on Friday, after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to start...
- Russian ruble weakens as traders see no major measures in Putin speech December 18, 2014MOSCOW (Reuters) - The ruble weakened against the dollar and euro on Thursday with traders saying President Vladimir Putin had so far offered no concrete measures to pull Russia out of a crisis at...
- Alternative lenders are hot -- especially among millennials December 18, 2014With two recent IPOs and a digitally-inclined audience of entrepreneurs, non-traditional financing could finally get its big break.
- Reddit cofounder: The next Google is one visa away from leaving U.S. December 18, 2014Read full story for latest details.
- Oprah-approved startup raises $6.25 million December 17, 2014News startup The Skimm announced a new round of funding, 1 million active readers, and plans to expand into a 'lifestyle brand.'
- Cow farmers get high-tech tracking app December 17, 2014Brazilian startup BovControl is turning cows into data with a mobile app.
- Google Ventures: less Ubers, more health care December 16, 2014The venture capital investment arm of the tech giant has quadrupled its funding of life sciences and health startups this year.
- Mortgage rates hit a new low for the year December 18, 2014Amid falling gas prices and investor nervousness, the average rate for a 30-year fixed-rate loan fell to 3.8%, a rate not seen since May 2013.
- Alternative lenders are hot -- especially among millennials December 18, 2014Read full story for latest details.
- Payday lenders throw millions at powerful politicians to get their way December 18, 2014Payday lenders are spending millions of dollars in Washington in an attempt to get powerful politicians on their side as a government crackdown on the industry heats up.
- Re-gifting is fine... if you follow these rules December 18, 2014Etiquette experts say re-gifting is generally considered acceptable, as long as you follow these rules.
- Toyota has best value: Consumer Reports December 18, 2014Read full story for latest details.
- NBA confirms L.A. Clippers sale to ex-Microsoft CEO Steve Ballmer May 30, 2014Donald Sterling sues the NBA for damages and demands to be reinstated as owner.
- FBI and SEC probe into Carl Icahn and golfer Phil Mickelson May 30, 2014Authorities are looking into the potenial insider trading.
- Google launches "right to be forgotten" service in Europe May 30, 2014Now European citizens can request to have search results removed.
- Five crazy things Steve Ballmer has done May 30, 2014In light of Ballmer placing the highest bid on an NBA team in history on Thursday, here are some of his wackiest actions and greatest hits.
- Zuckerberg's latest donation reawakens concerns over mixed results in Newark May 30, 2014Facebook founder and his wife donate $120 million to Bay Area schools, claim to have learned from previous gift to Newark, N.J. schools.
- Avon fined for bribing Chinese officials with Gucci bags December 18, 2014Beauty goods company Avon has been fined $135 million by the SEC for bribing Chinese officials with luxury goods -- everything from Gucci bags to Tiffany pens.
- Russia crisis hurts these brands the most December 18, 2014Read full story for latest details.
- Uber agrees to temporarily suspend service in Portland December 18, 2014Uber is standing down for the next three months in Portland, just one of the cities where it has run into trouble.
- Top 1%: What they made, what they paid December 18, 2014Read full story for latest details.
- Toyota's futuristic, freaky fuel-cell car December 18, 2014Toyota's new Mirai hydrogen fuel cell vehicle is worth a good, serious look. It won't be easy, though. While hydrogen fuel cell cars are mired in controversy, there's one thing everyone seems to agree on about this one.
- FOREX-Yen slips vs dollar, euro as risk sentiment improves December 18, 2014* BOJ maintains massive stimulus as expected, Kuroda presser eyed
- BOJ stands pat, offers brighter view on economy December 18, 2014TOKYO, Dec 19 (Reuters) - The Bank of Japan kept monetary settings unchanged on Friday and offered a more upbeat view on the economy, signalling that no immediate expansion of stimulus was on the...
- GLOBAL MARKETS-Asian stocks extend bounce on Wall St, Fed cheer December 18, 2014* Swiss central bank imposes negative rates to restrain franc
- FOREX-Yen edges down vs dollar, euro as sentiment improves; BOJ awaited December 18, 2014* BOJ set to maintain massive stimulus, Kuroda presser eyed
- GLOBAL MARKETS-Asian stocks catch Wall St tailwind December 18, 2014* Swiss central bank imposes negative rates to restrain franc
- Dow soars more than 400 points December 18, 2014Stocks 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, 2014Sony'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, 2014Ahead 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, 2014Reputation 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, 2014Robert 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.
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.
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.
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?
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 […]
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.
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
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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- Your Personality and Your Brain | Scott Schwefel December 15, 2014
- Unleashing the Power of Philosophy | Patrick Gentempo December 15, 2014
- How to Grow Talent You Weren’t Born With | Russell Falstead December 15, 2014
- The Simple Power of One Breath | Jonathan Winn December 15, 2014
- The Most Polluted Generation | Penelope Jagessar Chaffer December 15, 2014
- Tom Petters Net Worth December 18, 2014Tom 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, 2014Martin 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, 2014Buddy 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, 2014Donald 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, 2014Brooke 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 […]
- Washington governor pushes capital gains tax in face of budget gap December 18, 2014SEATTLE (Reuters) - Washington state Governor Jay Inslee on Thursday proposed a new tax on capital gains to try to close a projected budget shortfall of more than $2 billion, rolling back on a...
- U.S.-based emerging market stock funds see $831 million outflows in week: Lipper December 18, 2014NEW YORK (Reuters) - Investors in U.S.-based funds pulled $831 million out of emerging market stock funds through the week ended Dec. 17, the third straight week of ouflows, data from Thomson...
- U.S.-based emerging market stock funds see $831 mln outflows in week -Lipper December 18, 2014NEW YORK (Reuters) - Investors in U.S.-based funds pulled $831 million out of emerging market stock funds through the week ended Dec. 17, data from Thomson Reuters' Lipper service showed on Thursday.
- Schwab's Clendening leaving with more than $5.2 mln package December 18, 2014NEW YORK (Reuters) - John Clendening, the former co-head of Charles Schwab Corp's retail brokerage business, will collect a cash payment of $5.17 million as part of a separation agreement he signed...
- Wherever you go, there you are December 18, 2014(Reuters) - Here is the thing about investing: wherever you go, there you are.
- ETF Trader: Stock market in a giving mood December 18, 2014Nothing in this week’s reports derails Jim Lowell’s view of and for slow and reasonable economic growth.
- Mutual Funds Weekly: How Colbert’s ‘truthiness’ hit home with investors December 18, 2014Stephen Colbert broadcasts his final show tonight, and viewers can only give “The Colbert Report” a tip of the hat for being the award-winning investing advice program it is.
- Personal Finance Daily: The 12 bottles of Christmas, how to avoid airline fees December 18, 2014The bottles of booze you should gift this holiday season, and how to avoid baggage fees.
- This Corvette is faster than Hellcat, Ferrari, McLaren December 18, 2014The new 2015 Chevy Corvette Stingray Z06 will come out of the box with wicked fast performance times.
- 6 industries that can’t find workers fast enough December 18, 2014Companies are looking for employees in these areas.